Tag Archives: Economy

Economy, Fair Tax, Politics

The Right Way To Tax

If there is one thing in Washington for which there is bi-partisan support, it is the necessity to fund the government by taxing businesses and people. Here’s the question. Could there be a way to fund the government by bringing in the same dollar amount as the current tax code, ie revenue neutral, in a way that would stimulate, not depress, economic activity?

Here are seven informative FairTax videos that answer that question. Each one shows the benefits of the FairTax compared to the current IRS tax code. The last one features Secretary of the Treasury Timothy Geithner. Continue reading The Right Way To Tax →

China, Economy, Politics

aSide Order

Isn’t it amazing how the politicos in Washington get their shorts in a wad over uniforms for the U.S. olympic team being made in China? Too bad they aren’t as concerned when it comes to borrowing their money.

While the economy slows down, and unemployment is at record levels for a record amount of time, President Obama’s message is revealing more and more of his Marxist philosophy and fascist economic model tendencies when he says  that small business owners did not make their business or make them grow. “If you’re successful in business, you didn’t get there on your own,” he said. That “someone else” he suggests is the government. A defeatist attitude for free-market capitalism and, for America as we know it. And particularly dangerous coming from our president.

As an aside from the debate in Washington about whether or not to raise the debt ceiling, spend less, or balance the budget, there is something else just as ominous to the country and future generations that you should know about.

We all understand that borrowing money has a direct cost to it, the interest rate. Interest rates now are at all-time lows. No problem. When interest rates go back up, big problem.

http://www.youtube.com/watch?v=MdbqjiIiQLQ

Sen. Tom Coburn expounds on the “Debt Bomb.” “The problem isn’t that we haven’t agreed, the problem is that we’ve agreed way too much,” explained Senator Tom Coburn (R-OK) in a recent interview with The Heritage Foundation. “Otherwise we wouldn’t have trillion-dollar deficits, $16 trillion in debt, and unfunded liabilities of $113-131 trillion.”

 

 

Economy, Immigration, Media, Politics, Race Relations

Obama’s Imperial Presidency Dissolves Welfare Reform

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Amongst the class warfare tax rhetoric, repeating (known) debunked stories about Bain and Romney, was this most unreported story on Friday . . .Obama just gutted the welfare reform act of 1996 by eliminating the work requirement. No debate or involvement of congress.

The Ruler Barack Hussien Kardashian Obama makes laws by himself, illegal immigration, welfare. And decides which law he doesn’t want to follow, AZ v United States.

This reform was very successful. TANF became the only welfare program (out of more than 70) that promoted greater self-reliance. It moved 2.8 million families off the welfare rolls and into jobs so that they were providing for themselves. Child poverty fell, and single-parent employment rose. Recipients were required to perform at least 20–30 hours per week of work or job preparation activities in exchange for the cash benefit.

Now, Obama’s HHS is claiming that it can waive those work requirements that are at the heart of the law, and without Congress’s consent.

Who knew there was a groundswell of opinion to define watching TV or sleeping as ‘work?’ Working hard to grow a population dependent on the government? Check. It also shows that Obama is not restrained by the law and, is no advocate for the poor. Taking steps to help dismantle a productive family is not helpful. It’s disgraceful. Screw the constitution.

Link: Morning Bell: Obama’s Imperial Presidency Dissolves Welfare Reform.

2010 Election, 2012 Election, Economy, Media, Politics

Obama Raising Taxes

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In 2010, the last time “the Bush tax cuts” were scheduled to expire (remember the Democrat-controlled congress wouldn’t pass those tax rates into law unless they were ‘temporary?’) President Obama said that raising taxes during a recession would be counter-productive to any recovery. A correct statement. So the bill was extended two years. Notice too how tax cuts expire and tax increases don’t.

Now two years later and in another campaign season, his stump speech is that it was those “Bush tax cuts for the rich” that caused our economic trouble. That, and his claiming ignorance. Ignorance that the economy was so bad that he and his advisers did not know how bad things were. You’ve heard it. It’s all Bush’s fault.

Today Obama wants to keep the tax rates for the ‘middle class.’ Have you noticed how this president calls the Bush tax cuts as “tax cuts for the rich?” The fraud he is perpetrating on the American people is that the Bush tax cuts were tax cuts for EVERYONE, including the middle class. Sans the class warfare.

The ‘class warfare tactic’ demands that they be called tax cuts for the rich, and, it is Obama who is going to give the middle class a tax cut. The reality is the tax rates that Bush signed were tax cuts for the middle class too! Obama likes those, and wants to own them.

The only way Barack Obama can get away with this fraud is the legacy media will allow him to get away with it.

How’s this explanation work for you? ‘It was those tax cuts that caused the economy and jobs to tank. That’s why I want to extend them.’

I don’t know how President Obama sleeps at night when he continues to lie to us to advance his agenda. He does it because it works on the ‘less informed.’ Or as Boortz refers to them, the ‘dumb masses.’ It’s unfortunate for America that Community Organizer Barack Obama can’t be honest about it. And he deserves to be re-elected for that?

Economy, Politics

Wrong And Right Direction In Job Growth

Picture a swimmer flailing away to keep his head above water to keep from drowning. Now picture President Obama bragging about creating 80,000 jobs last month as “a step in the right direction.”

All he has to brag about is the economy is not dead yet.

Considering that, to keep up with population growth, a break-even number for job creation is 150,000 to 250,000 new jobs per month (depending on whose estimation you want to believe), any number below that means the employment picture is worsening. Not getting better and, contrary to the administration’s spin, is going in the wrong direction.

Links: Obama’s Magic Number? 150,000 Jobs Per Month  |  Demand More than ‘New Normal’  |  Obama on job numbers: ‘It’s still tough out there’

Economy, Energy, Politics

Falling Gas Prices, Who’s To Blame?

When we see the price of a gallon of gasoline coming down, is there anyone giving credit to those oil speculators? According to the Obama administration, they unfairly control the cost of gasoline at the pump because they unfairly control the cost of crude oil. That’s their story and they’re sticking to it. So how’s that investigation into the speculators going?

Absent the chorus of salutations to the oil speculators (part of that market), one can only assume that Obama deserves the credit, or blame, for the gas prices falling. And in this case, that would be correct.

As usual, it is the market that affects the price of crude. And in this case, and you’ve heard Obama brag about how Americans are conserving by using less gas, this decrease in demand is causing the price to come down. He apparently believes in free-market economics only when it suits him. He is only half right in his analysis. Gas prices are coming down due to the falling demand for gas. But it’s not because Americans have suddenly turned into a bunch of conservationists, as he suggests. It is due to the depressed economy, rising unemployment, and generally less business, or any, activity overall. People, and businesses in general, are hunkered down and/or out of work. That’s why the demand is down.

Depressing the economy is not the way to lower prices at the pump.

Economy, Media

Consumer Prices Rising

The Consumer Price Index report for May 2012 was released today. As the mainstream media reports that the prices have fallen .3 percent, know that they are deliberately deceiving you. They are comparing apples to oranges to make it look like things are getting better. You know whether that is true. You live it every day.

Including energy, the total CPI score does show a .3 percent decrease in consumer prices. That is due primarily because of the falling price of gas. That is due to the falling demand for gas. And that is due to the depressed economy, rising unemployment, and generally less business, or any, activity overall.  Depressing the economy is not the way to achieve lower prices at the pump.

The CPI that gets the media attention, because the BLS publishes it every month, is the one that does not include Food and Energy. It is called “All items less food and energy”.  (After all, who needs to eat or get anywhere? ) You will find it near the bottom of page two.

It is there that you will see, comparing apples to apples, that the Consumer Price Index for May 2012 increased 2.3 percent over May of 2011. It also increased .2 percent, each month, over the last two months, March and April of 2012.

The full detailed report is below.

[scribd id=97169339 key=key-20l9ql0t2g3dp26025ey mode=list]

Look a little deeper and you’ll see even more news. You know this to be true, even though you’re not reading about it. The BLS also tracks “Medical Care.” All sub-categories under Medical Care are up from 1.8 to 3.9 percent from May of last year. It is up .4 percent for March and up .5 percent for April of this year.The category “Hospital and related services” shows a 5.2 percent increase. And under Obamacare, it’s only going to get worse. Much worse.

2012 Election, Economy, Energy, Europe, Politics

EPA, High Mileage Cars Not Permitted In U.S.

If there are only three or four cars capable of 70 mpg, the gas tax revenue shortfall angle is negligible. But not necessarily a limitation. There’s nothing stopping Washington from coming up with a new tax to replace half the gas tax revenue that would be lost by doubling the gas mileage (presuming every car in the country also doubles their mileage.) Or, just double the existing excise tax. Either way, the working poor will be hit the hardest.

The reason why a Volkswagen that gets 70 miles per gallon can not be sold in the United States is because of government regulation. The real reason is the emission standards as dictated by the EPA and the Obama administration. The penny-pincher on gas emits more ‘pollution’ than what the EPA allows. And the reason for that is the farcical man-made global warming BS coming from what is now known as the environmental movement. Wholly embraced by the Obama administration.

The EPA is one government agency that needs to be reduced to an advisory agency, not a regulatory agency. Congress is our regulatory agency. Or better yet, just eliminate the Environmental Protection Agency and save $8.3 billion a year without them. In ten years time, and without the idiotic baseline budgeting scheme, that represents a saving of $83 billion dollars.

Economy, Politics

Obama Shadows Past Presidents

It is fitting that President Obama compared himself and his Affordable Health Care Act (aka Obamacare) to President Lyndon Johnson and his Medicare legislation. As if that is something for the narcissist to be proud of, President Obama has inserted himself in former Presidents’ biographies on The White House website.

It is appropriate for a few reasons. Both represent socialized medicine. Both cost more than was  sold to the public. Both are financially unsustainable. And both presidents deceived the American people as to its likely real cost in order to get their legislation passed.

Before Medicare was passed in 1965, LBJ became aware that its cost was way more than promised.  He knew that his government health care program would not pass if the people knew what it would really cost.

Johnson maneuvered every step of the way getting this bill through Congress, and one of the things he did — and this is a little dicey in today’s climate — was suppress the costs. So this young kid gets elected from Massachusetts, Ted Kennedy, in 1962, and Johnson is explaining to him [over the phone] how you get a health bill through. And what he tells him is don’t let them get the costs projected too far out because it will scare other people:

“A health program yesterday runs $300 million, but the fools had to go to projecting it down the road five or six years, and when you project it the first year, it runs $900 million. Now I don’t know whether I would approve $900 million second year or not. I might approve 450 or 500. But the first thing Dick Russell comes running in saying, ‘My God, you’ve got a billion-dollar program for next year on health, therefore I’m against any of it now.’ Do you follow me?”


His solution was to lie about it. Just like Obama and his political party did with Obamacare. Where Liberals, Progressives, Socialists, Marxists, and Communists are concerned, the end always justifies the mean.