Posts Tagged ‘Taxes’

President Obama doesn’t understand what taxes are!!!

Monday, September 21st, 2009

This weekend on the pundit shows (except FOX) President Obama pitched the same spiel on health care reform which is chalk full of inaccuracies. For example, a revenue neutral bill. How can you give 30-50 million people health insurance or health care without it costing money? The neutral part comes in taxes or mandates.  A tax is defined as: noun

1. a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc.
2. a burdensome charge, obligation, duty, or demand.

–verb (used with object)

3. (of a government)

a. to demand a tax from (a person, business, etc.).
b. to demand a tax in consideration of the possession or occurrence of (income, goods, sales, etc.), usually in proportion to the value of money involved.
4. to lay a burden on; make serious demands on: to tax one’s resources.
5. to take to task; censure; reprove; accuse: to tax one with laziness.
6. Informal. to charge: What did he tax you for that?
7. Archaic. to estimate or determine the amount or value of.

http://dictionary.reference.com/browse/tax

Thus, forcing people to purchase insurance is a tax. These type of taxes are referred to as mandates. Mandates are the same as forcing someone to purchase insurance and thus is a tax.

On Sunday George Stephanopolus ask President Obama about forcing people who  don’t want to buy insurance if they were being taxed. The President was caught off guard and in typical socialistic fashion debated whether this was a tax or not!!! When you force people to pay for something they don’t choose it is a tax.

Huge middle-class tax increase:

http://www.youtube.com/watch?v=lgBzmoo9izw

How can we trust this president?

House Health Plan Bold On Benefits, Quiet On Cost Issue

Tuesday, June 23rd, 2009

June 19, 2009

By DAVID HOGBERG
Investor’s Business Daily

Even as health care reform slows in the Senate over huge program costs, House Democrats doubled down Friday, betting on a more-expansive plan while offering few clues on how to pay for it.

Members from the House Ways and Means; Education and Labor; and Energy and Commerce committees released a “discussion draft” bill that reads like a reform wish list that will appeal to the Democrats’ base. It includes a public plan, a Medicaid expansion, subsidies for those up to 400% of the federal poverty level, and individual and employer mandates. Democrats expect it to cover about 95% of Americans.

It also might prove more costly than those of Sen. Ted Kennedy, D-Mass., and Sen. Max Baucus, D-Mont. The Congressional Budget Office estimated that those bills would each cost over $1 trillion, while leaving tens of millions of people without coverage.

That sent Baucus back to the drawing board, announcing his Finance Committee would delay its hearings until after July 4.

He isn’t the only one pushing dates back. President Obama has backed off his July 31 deadline for getting a reform bill to his desk.

“I don’t think it’s a surprise that this is going to take some time to do. It’s an issue that we’ve been discussing for 40 years,” said White House spokesman Robert Gibbs. “The president isn’t pessimistic about being able to get this through Congress this year.”

House Bill’s Cost Unknown

The CBO has yet to score the cost of a public plan or increasing Medicaid eligibility to 133% of the federal poverty level, as the House Democrat plan proposes.

Energy and Commerce Chairman Henry Waxman, D-Calif., said, “We’re going to pay for this bill. We’re going to pay for it by cutting down on expenditures in public programs like Medicare and Medicaid, and by reforms in the system that will hold down costs for everyone. And we’re going to pay for it with revenues.”

On the latter point, Ways and Means and other House panels are mulling a variety of tax hikes to pay for health care, including a value-added tax and a soda levy.

Tax hikes could be politically poisonous and cut the legs out from a tentative economic recovery. But the public also is increasingly worried about soaring budget deficits.

Also, a health plan would need 51 Senate votes if it’s fully paid for — but 60 if it’s not.

A previous CBO report concluded that some Democrat reforms would save money. The employer mandate and community rating would increase federal revenues by $48 billion and $5 billion, respectively, over 10 years. Requiring drugmakers to give the same rebate to Medicare Part D that they give to Medicaid would save $110 billion.

But the Democrats’ plan increases costs by closing the “donut hole” in Medicare Part D and eliminating annual Medicare physician payment cuts. CBO estimated that doing the latter would cost at least $318 billion over 10 years.

Rep. Frank Pallone, D-N.J., chairman of the Energy and Commerce health subcommittee, was noncommittal on the cost of reform.

“We haven’t figured out exactly where we want that line to be,” he said when asked if the House would have to keep the cost at about $1 trillion. “A lot may depend on the level of cuts and savings. We don’t have CBO scores, so we really can’t say at this point.”

Baucus Balks

CBO scoring compelled Sen. Baucus to rework his plan. A new draft leaked to the media showed he had cut subsidies from 400% of poverty to 300% and Medicaid’s expansion from 150% of poverty to 133%.

Liberal Washington Post blogger Ezra Klein took the CBO score of the Baucus plan as a bad sign. “(H)ealth reform has just gotten harder. The hope that we could expand the current system while holding costs down appears to have been just that: a hope.”

At least one key House lawmaker seems unfazed.

“Everything is on the table. Nothing is locked in cement,” said Ways and Means Chairman Charles Rangel, D-N.Y. “I’ve been here a long time. We’ve got momentum.”

Neo Comms

Thursday, October 30th, 2008

I remember when conservatives were deemed by the left… neo-cons. I had to research what this meant.

What do neoconservatives believe?

“Neo-cons” believe that the United States should not be ashamed to use its unrivaled power – forcefully if necessary – to promote its values around the world. Some even speak of the need to cultivate a US empire. Neoconservatives believe modern threats facing the US can no longer be reliably contained and therefore must be prevented, sometimes through preemptive military action. Source Christian Science Monitor downloaded today at 10:03pm http://www.csmonitor.com/specials/neocon/neocon101.html

I have come up with the left wing Democrats version of neo con. Neo Comms aka Neo Communists.

What do Neo Comms believe:

“We want our country to be liked by Europe, and thus we want to model our society after the government-run societies of Europe which are built on fairness. Since Americans don’t really understand socialism we can create government programs that will “take care of people”, and make them beholden to us thus Americans will elect our philosophies, and thus move American toward communism instead of consumerism”.  Our tag line is: “You deserve more taxes because we say so.”

Scary…

Obama Welfare Calculator

Wednesday, October 29th, 2008

I went to the Obama web site and used the tax refund calculator. This showed with my income that I would receive about $1340 tax cut. First, this is not a tax cut. Second, this is a refund check. I will promptly return this to the government from whence it came because I didn’t earn it, and it came out of someone else’s pocket who did earn it.

Is Obama buying votes?

Tuesday, October 28th, 2008

By Ric Joyner

Yes. How? By giving a tax break to people who don’t pay taxes now. This is buying votes. This is putting people on welfare. This is socialism.

McCain has it right. Give businesses a tax break and they will put people to work. Smart.

Barack gives money away which isn’t his to give.

I found this comment on the web which is funny and sad:

The Democratic Party: We do everything for the children, including aborting them

The Democratic Party - We’re so compassionate, we give YOUR money to the poor (er, whatever’s left)!

The Democrat Party - Give us your tired, your weak, and your poor, we’ll make ‘em worse off.

Redistribution of Wealth Funny—Sad

Thursday, October 23rd, 2008

Today on my way to lunch I passed a homeless guy with a sign that read “Vote Obama, I need the money.” I laughed.

Once in the restaurant my server had on an “Obama 08″ tie, again I laughed
as he had given away his political preference–just imagine the coincidence.

When the bill came I decided not to tip the server and explained to him that
I was exploring the Obama redistribution of wealth concept. He stood there
in disbelief while I told him that I was going to redistribute his tip to
someone who I deemed more in need–the homeless guy outside. The server
angrily stormed from my sight.

I went outside, gave the homeless guy $10 and told him to thank the server
inside as I’ve decided he could use the money more. The homeless guy was
grateful.

At the end of my rather unscientific redistribution experiment I realized
the homeless guy was grateful for the money he did not earn, but the waiter
was pretty angry that I gave away the money he did earn even though the
actual recipient deserved money more.

I guess redistribution of wealth is an easier thing to swallow in concept
than in practical application.

(author unknown)

Family Discussion Regarding Politics…Whew!

Sunday, October 12th, 2008

By Ric Joyner

We had an excellent time at the confirmation celebration of my niece. Lot’s of family, lots of singing, and lot’s of politics. My brother-in-law has been a farmer all of his life, and knows farming inside and out. He is also a democrat from WAY back. What I found interesting is the forceful conviction of his ideas. I also appreciated his angst toward how Bush has run the government. But in the same instance I am also concerned with the shallowness of his arguments. They point to one person at fault whereas both democrats and republicans are at fault in many cases. His conclusion was plain…if you don’t beleive his point of view…you lack common sense. I already stated the harmful myopic “small town” view of blaming one individual…the president…for all of America’s ill. That thought process in my opinion, lacks common sense.

Here is how I will sum his comments from my point of view. My comments are based in what I perceive he was saying.

1. What good happened during the Bush Administration? This question came out of the blue, and he eventually answered it himself. He cited how terrible things were in general such as the war, the economy (which wasn’t an issue until one month ago except the housing crisis. The housing crisis was started by pressure on banks to give credit to those that had poor credit and could not afford the house). His “Bush terrible list” list are the current democratic talking points. But what was good? Here is a small list I created.

The US was not attacked after 911.

The economy was good considering the 911 terrorist attacks until it was RECENTLY discovered mortgage bailout. The Democrats such as Barney Frank were protecting the sub prime loans Fannie Mae and Freddie Mac were making. The economy did slow down during the last half of 06 in certain areas such as housing but not commercial. But for the most part the economy added 10,000,000 jobs under Bush. Also there is a ton of money that went to Barack Obama’s campaign from both lenders, and to key democrats.

Terrorism around the world is being hunted down. I agree that the war in IRAQ was not necessary, but the war in Afghanistan was prudent. However  hindsight is easy. The issue with IRAQ is how Sadaam went to great lengths to deceive the world that he did have weapons of mass destruction. Would it be an unjust war if we found the weapons? What if they were moved to Syria or Russia? Easy for everyone to arm chair quarterback…including Obama.

Unemployment is around 6%. This is one of the lowest levels in the history of this country. The unemployment rate increased right after 9-11 but then dropped with the tax cuts.

Lower taxes. Under W, we have the lowest tax rates (almost half of what it was under Clinton) which keeps the money in the hands of families and gets the economy moving. Carter years were 17% unemployment with high tax rates. Reagan slashed taxes and  the economy started moving again. Bill Clinton inherited the economy from Reagan and Bush 1. Toward the end of the Clinton term he instituted nearly twice the taxes that Reagan and Bush 1 had, and that sent the stock market tanking! Remember the DOT COM bust? It also slowed the economy from 98-2002. Bush 2 had to deal with a rough economy, and he got it rolling again with tax cuts. The stock market and the economy improved dramatically from late 2002-2008. (There were certain sectors that experienced slow down, and that was primarily the housing market)

W got medicare part D for the aged because prescription drugs were a real cause of poverty for the seniors.

Education on the “no child left behind act” which is an attempt to bring up the education in our schools.

Stimulous payments. While I disagree with stimulous payments this was a benefit under Bush. I didn’t ask my brother-in-law if he cashed  his check. Perhaps if Bush/Reagan is to blame for everyone’s problems, that he should send back the money? Isn’t it hypocritcal to take someone’s money you hate?

2. He feels that the $700 Billion is a Wall Street bailout even though nothing has been spent yet, so it is too early to say whether it is a bailout of Wall Street or a rescue plan. The Dems and Republicans both voted against it two weeks ago because they heard from the public to stop supporting a bailout of Wall Street. However, I heard this dem talking point from another democrat supporting Obama this same weekend… that it was a Wall Street bailout. I finally got him to admit that since nothing was paid out we can’t be sure which it is yet. What you will see happen and is happening now is the slow movement of the money. When the government does anything it is slow and nearly always too late. Remember Katrina?

3. Give every household the money instead of Wall Street. The issue here is that giving roughly $740,000 to each household WOULD grind the economy to a halt because no one would need to work any longer. The $700 Billion is designed to be used by the government to help instill confidence back into the banking system not Wall Street. Here is an overview of the bill: http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008 Feel free to read and let me know where the focus is bailing out Wall Street? Didn’t find it? Didn’t think so.

4. The republicans stole the election in 2000 and 2004. First, Al Gore is the one that decided to contest the hanging chads in Florida, not George Bush  (he had already won the state). Yet this is considered stealing the election? What if it went Al Gore’s way? Would he believe that the election was stolen? Probably not. And this is the problem with all of politics. The farther left or right it gets, the less middle ground we can find. Second, no one stole the election in either year. Either George or Al could have won. I brought this up because of the voter registration fraud with a group that is tied to Obama. My brother-in-law shot back that McCain gave money to ACORN, and yet I find no solid information to back up his comment, so I will dismiss this comment as not factual.  Either way, Obama supported, trained, gave money to ACORN and ACORN is falsifying voter registration. Is my brother-in-law saying it is ok to be dishonest with voter registration records when the democrats feel shafted at the election of 2000? The progressives believe that “by any means necessary” (Saul Alinsky the father of radicalism) to win the election because their “cause” is the correct one. My brother-in-law may not have said it, but excusing Barack for his association with this group is stamping their tactics with “ok” to cheat.

5. Failing businesses. He brought this up because his view is that businesses are failing i.e. “look at downtown Ladysmith”. At first, I thought he was kidding because small businesses come, and go for an endless list of reasons. Most don’t last 2 years  because of the start up costs and mismanagement of the business (mismanagement is not meant to suggest criminal activity, but is designed to say that making mistakes, and miscalculations of risk is mismanagement which leads to the business closing). There are several coffee shops that have gone out of business around Madison, and this should be no surprise by the high level success or failure of any business. But his view was that the failures were because of George Bush. I found this comment incredible… defying any logic because where is personal responsibility? Didn’t he know that a tornado ravaged Ladysmith? That slowed commerce. The oil prices this year slowed tourism which is another risk business must navigate. But if you are looking for a boogie man to blame… George will do! But I have no evidence that I can cite that shows businesses are failing faster or worse under W. So this argument lacks factual statistics. That does nothing to help the people that lost their businesses under social engineering democrats. Another example of democrats savaging business, is the push by progressives to stop smoking in bars, and restaurants statewide. They are attempting this at the local level, and have pushed businesses to close with little regard for the welfare of the people affected. Is this progressive thinking? Is this caring for the people that had the business? Many went bankrupt. No, it is government interfering with people’s choices. I don’t smoke thus I don’t go the restaurants that allow it.

6. He espoused isolationism. Meaning that he wanted us to close off our country to trading with other countries etc. He said George Bush sent jobs overseas. I asked him why President Clinton signed NAFTA and the unions warned him that jobs would go overseas and they did. So why is this Bush’s fault and not President Clinton? The type of isolationism that he would like us to see under “Woodrow Wilson” (it was Hoover but Ia am assuming he made a mistake) actually helped prolong the great depression. Our country started trade and tariff wars with the rest of the world which stopped trade and caused our goods to stop flowing out of the country and with the isolationism came lost jobs and suffering especially in the ag market. Our global trade has been a bright spot for our economy during the financial crisis. Again, when people pull into isolationism, it is due to fear, ignorance of basic economics, and a negative outlook.

What I discovered in my talk with him was how little outrage he had over the democrats protecting Fannie Mae and Freddie Mac lending practices after an audit was done in 04 that alerted the auditors to serious issues with them. Even Alan Greenspan appeared before Congress after the democrats took over in 04, and attempted to show them how a coming crisis could seriously affect the economy if they didn’t act. What did Senator Chris Dodd and Barney Frank do who are both democrats? Take money from the lenders!!!! Where was his outrage that these democrats directly attributed to the crisis we now are experiencing…by doing nothing and stopping any changes to their lending practices? And where was his outrage that Obama took millions from the lenders, and his top advisors stole $100,000,000 from them while they worked at Freddie and Fannie? He didn’t say a word. He is not even outraged that the democrats loaded the first bailout or rescue bill with money to ACORN!!! That is democratic graft by any other name. Hypocrisy is rampant!

The final ironic conversation today, was while he said that I shouldn’t talk politics in the family, that was the majority of his discussion throughout the day!

Our last conversation (again my interpretation of what was said) was that I was on the wrong track, and that I should embrace more regulation and Obama. I oppose regulation, higher taxes, and a candidate who is very left leaning (socialistic in thinking). I also don’t want to put my trust, as he does in a candidate that wants to rob my wallet to give to Barack to distribute wealth, and who has  fake centrist ideas to get elected. I think I will stick to McCain who is what you see is what you get. No thanks on Obama. I will still take my chances with my conservative roots.

The last issue for me with him was  noteworthy. He works for the school district thus has no problem if our company has to pay more taxes, even though it stops us from hiring people who support their families and pay taxes. Yet my goal is to put people to work and paying more taxes will slow us down. Many of my fellow business people are not hiring now for two reasons. First to wait and see what new taxes we will have to pay and how long the slow down will last. We are also holding off on a retirement plan contribution for employees, which was our goal this year because we aren’t  sure if we will pay taxes under Obama’s plan. As a side note, I also experience the risk and burden of owning a company, and he just shows up at a job. Thus it is easy for him to spend other people’s money just like Barack.

FACT SHEET: Proposed Treasury Authority to Purchase Troubled Assets

Saturday, September 20th, 2008

September 20, 2008
hp-1150

FACT SHEET:
Proposed Treasury Authority to Purchase Troubled Assets

Washington – The Treasury Department has submitted legislation to the Congress requesting authority to purchase troubled assets from financial institutions in order to promote market stability, and help protect American families and the US economy. This program is intended to fundamentally and comprehensively address the root cause of our financial system’s stresses by removing distressed assets from the financial system. When the financial system works as it should, money and capital flow to and from households and businesses to pay for home loans, school loans and investments that create jobs.  As illiquid mortgage assets block the system, the clogging of our financial markets has the potential to significantly damage our financial system and our economy, undermining job creation and income growth.  The following description reflects Treasury’s proposal as of Saturday afternoon.

Scale and Timing of Asset Purchases. Treasury will have authority to issue up to $700 billion of Treasury securities to finance the purchase of troubled assets. The purchases are intended to be residential and commercial mortgage-related assets, which may include mortgage-backed securities and whole loans. The Secretary will have the discretion, in consultation with the Chairman of the Federal Reserve, to purchase other assets, as deemed necessary to effectively stabilize financial markets.  Removing troubled assets will begin to restore the strength of our financial system so it can again finance economic growth. The timing and scale of any purchases will be at the discretion of Treasury and its agents, subject to this total cap. The price of assets purchases will be established through market mechanisms where possible, such as reverse auctions. The dollar cap will be measured by the purchase price of the assets. The authority to purchase expires two years from date of enactment.

Asset and Institutional Eligibility for the Program. To qualify for the program, assets must have been originated or issued on or before September 17, 2008. Participating financial institutions must have significant operations in the U.S., unless the Secretary makes a determination, in consultation with the Chairman of the Federal Reserve, that broader eligibility is necessary to effectively stabilize financial markets.

Management and Disposition of the Assets. The assets will be managed by private asset managers at the direction of Treasury to meet program objectives. Treasury will have full discretion over the management of the assets as well as the exercise of any rights received in connection with the purchase of the assets. Treasury may sell the assets at its discretion or may hold assets to maturity. Cash received from liquidating the assets, including any additional returns, will be returned to Treasury’s general fund for the benefit of American taxpayers.

Funding. Funding for the program will be provided directly by Treasury from its general fund.  Borrowing in support of this program will be subject to the debt limit, which will be increased by $700 billion accordingly.  As with other Treasury borrowing, information on any borrowing related to this program will be publicly reported at the end of the following day in the Daily Treasury Statement. (http://www.fms.treas.gov/dts/)

Reporting. Within three months of the first asset purchases under the program, and semi-annually thereafter, Treasury will provide the appropriate Congressional committees with regular updates on the program. 

Why are gas prices so high? Blame the liberal Congress!

Monday, May 19th, 2008

By Ric Joyner

I listen to the Bush haters rant, and rave about how George Bush is cashing in on the high gas prices. I sit back and wonder what happened to their common sense, and lack of understanding of basic economics. So what is causing the high oil prices? Simple: Demand. When demand goes up, and supply is down, prices go up for any good or service. There is an old saying, “I believe in the golden rule…he who has the gold rules”. Who has the gold…in this case the black gold of oil? Several countries that are keeping the output down to increase prices.

But could these large price increases be prevented? Yes, by drilling in our own back yard. Have we? No for several reasons. Environmental groups, and the liberal democratic congress who won’t let us drill in our own oil reserves.

The facts are as follows:

Environmental groups:

“Environmental concerns militate against drilling, but improvements in technology have greatly reduced both the above-ground footprint and the risk of offshore spills. Any new drilling would be subject to the world’s strictest standards.”  —Ben Lieberman is Senior Policy Analyst for Energy and Environment in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.

To understand why enviromental groups create crisis, follow the money. They artificially create “environmental causes” to get donations, and “feed the monster”. EGs are like any business. They need money to survive. For example, EGs were successful in CA by filing lawsuits to stop new refineries, off shore drilling, and nuclear power plants. They advocated for renewable energies. Last year I was watching CNN, and the Sierra Club was protesting more wind farms due to the hazard to birds! I did an OMG! They got what they wanted… renewable energy, and now they are protesting the very thing they were advocating? But why? If you follow the protest, the young media respresentative of the Sierra Club was seeking money donations! This is what feeds their monster…creating crisis to collect more donations! For more information and reading on wind energy: http://www.wind-works.org/articles/SCSCRCWind.html

Democratic Congress:

Passed a bill that would tax the companies producing energy which the companies will pass on to consumers! That bill was passed in 2007 vetoed by Bush. Look at the gas prices now! For more reading on this bill: http://www.conservative.org/pressroom/2007/070808pr.htm

The Dems in the Senate stopped any potential drilling in a wasteland called ANWR. (Arctic National Wildlife Refuge) The problem with ANWR is that there is little “life” in the tundra, but it holds untold billions of gallons of oil! Why won’t the democrats allow us to be energy independent? Gas is .12  in Venezuela and Mexico who produce their own energy! http://money.cnn.com/pf/features/lists/global_gasprices/

Here is a terrific conclusion in an article from the Heritage Foundation:

“Conclusion. It is no coincidence that, despite the massive 2005 and 2007 energy bills, the price at the pump continues upward. Both measures did little to create new oil and gasoline supplies or to untangle the red tape afflicting existing supplies. America needs fewer laws, regulations, taxes, and other government-created impediments to a more affordable gasoline supply. Most of the provisions in the American Energy Production Act are intended to liberate Americans from that morass. In contrast, the Consumer-First Energy Act of 2008 contains just about everything we don’t want or need.”
—Ben Lieberman is Senior Policy Analyst for Energy and Environment in the Thomas A. Roe Institute for Economic Policy Studies at The Heritage Foundation.\

George Bush doesn’t have his hand in the pocket of oil companies, the democratic congress has its hands in the pockets of environmentalists, and special interest groups that are opposed to energy freedom!

But the Democrats answer is to tax the people who produce the energy because of profits! This actually drives up the prices for everyone. Why? The example is my wife’s coffee shop. The CAM (a form of moveable rent cost) increased 22% in one year! She has to decide where to make up this cost increase. The only recourse is to pass on to the consumer. But can she raise prices on a cup of coffee to almost $2.00 per cup and expect people to continue to buy? No. So she has to raise prices by 10%, but must cut expenses in other areas. One option is to cut worker pay or lay off employees. I just don’t think the Democrats understand basic economics. They use slogans like “tax the rich” and “windfall profits tax on oil companies” to get people’s blood boiling to pass this economic terrorism by enacting taxes (they love taxes). But is it the right answer? No, for the reasons stated above.

Another famous democrat who wrecked havoc on our economy was Jimmy (the I negotiate with terrorists) Carter in the 70s. Jimmy imposed a windfall tax on oil company profits to help the poor afford gas. What happened? National oil rationing and higher prices! The producers of gas lowered their output, and the result is we all paid for this dumb approach to energy.

Write your congressional representative today, and tell them you want energy freedom which will increase supply, and for the US to become self sustaining in energy. And another approach is to ignore the enviromental groups.

Tell your respresentative to stop the economic terrorists (enviromental groups and liberal democrats)!