An Ol' Broad's Ramblings
Apparently, the Obamas need another vacation, on our dime of course.
3 Trillion Reasons Not to Raise Taxes Again
Amy Payne – The Foundry
Do you know how much President Obama has raised taxes?
Oh, by about $3 trillion.
In a new paper, Heritage expert Curtis Dubay reminds us:
President Obama has already raised taxes substantially twice—first as part of Obamacare and then as part of the “fiscal cliff” deal earlier this year. Together, those increases raised taxes by more than $1.3 trillion over 10 years. Including the payroll tax increase that was also part of the fiscal cliff deal, taxes have risen by almost $3 trillion during President Obama’s tenure.
That’s right: Taxes have risen by almost $3 trillion during President Obama’s tenure.
I have to ask again…where in the Constitution does it grant the federal government the authority to take from one state to give to another? It doesn’t. Just as the states have no authority to levy taxes on other states themselves. Someone really needs to set these people straight!
Internet Sales Tax Is a State Money Grab
Amy Payne – The Foundry
Why are states so eager to collect taxes on Internet sales?
In short, because they could grab money from other states.
Heritage legal expert David Addington lays it out:
Like the money-hungry federal government, many state governments have financial and political interests in getting their hands on more and more money to grow their governments. It is not surprising that many of those state governments find out-of-state businesses to be lucrative and politically easy targets for tax legislation.
Addington explains how this would work. Take, for example, a company whose workforce and warehouses are in New Hampshire. This company has no contacts with Illinois other than taking remote sales orders over the Internet.
I really detest that term, “fair share”. It sounds like a couple of kids squabbling over the last piece of cake. What would be fair? Dividing the cake evenly…both kids get the same size piece! The older one doesn’t get a bigger piece cuz he’s older. The same goes for paying taxes. Just because you make more money that victim B, doesn’t mean you should have to shoulder the bigger burden. What would be “fair” in this scenario? In my opinion, BOTH should pay an equal percentage.
I’ll use 10%. Why? Well, if God doesn’t expect you to tithe more than that, why should you be coughing up more and more of your hard earned money just to support victim B, who, in reality, pays NOTHING! If you make a million dollars, you pay 10%. If you make 20 thousand, you pay 10%. Now THAT is a fair share!
Unfortunately, the government doesn’t see that money as yours, even though you worked to earn it. No, they see it as THEIRS, and they want a WHOLE lot more than a fair share of YOUR earnings, if you are more than ‘comfortable’. What do they do with that money? Well, we know that they waste a HUGE amount on failed programs. It doesn’t work? End it, and use that money where it is truly needed, like on national security.
Do you spend more than you make? You probably learned that bad habit, subconsciously, from the government. They are really lousy at managing money, and should be fired. If your accountant for your business was blowing the companies money on useless items, like say, lavish parties on a regular basis, wouldn’t you give them a very large pink slip? The same goes for the mismanagement of OUR money on the federal level.
If things keep going in the direction they have been for the last few years, it will be darn near impossible for our economy to grow. If you hadn’t noticed, there is a tax on EVERYTHING. Our so called representatives are not doing the job they were hired to do, as laid out in the U.S. Constitution, which, by the way, LIMITS their power. It is not their job to take money from you, to create, and spend trillions on “social programs”. Article I, Section 8, clauses 1-16, lays out exactly what Congress is ALLOWED to do. It’s not all that complicated. Article I, known as the Spending Clause, lays out exactly what Congress is enacted to carry out. Unfortunately for the nation, somewhere along the line, some clown decided the “general welfare” term meant that they could suck the life out of you, and give it to someone who is “in need”. Hence, we have Social Security and Medicare, a MASSIVE drain on the country as a whole. If you want more information on the Enumerated Powers of Congress, I suggest you read, links and all, P/H’s paper.
Our government is busy doing the job of charities, to the detriment of the charities that actually accomplish what they set out to do, getting folks back on their feet. The government doesn’t do that. No, they create a ‘dependent’ class, who contribute nothing to the general well being of their community.
I don’t mind helping those in need. It’s our duty! It is NOT the duty of the government. 100 years ago, there was no income tax, yet our country had all the needed infrastructure. Today? Well, let’s just say we’ve created a monster that must be fed more and more, but more is never enough. We need to put that monster out of our misery, and reform it to a more manageable size. We must return it to the box the Constitution sets forth. No more hand outs. No more supporting countries that don’t like us anyway. No more feeding the beast!
It is beyond past time to reform Social Security and Medicare. It’s time for the younger generation to learn they have to prepare for their own retirement and old age. It is time for the government to do the job it was created to do, instead of what the individual members THINK they should do.
Where Did Your Tax Dollar Go?
Romina Boccia & Curtis Dubay – The Foundry
Americans are waking up today to the worst “case of the Mondays” they’ll have all year: It’s Tax Day.
Most Americans dread Tax Day, and for good reasons. Beyond the huge tab Americans pay to the government, the tax code is so complex that it’s difficult to figure out what we owe to the IRS. This is a pain for taxpayers and a huge drain on the economy.
According to the federal Taxpayer Advocate in its 2012 report, Americans’ cost of complying with today’s complex tax code totaled $168 billion in 2010. That’s almost as large as the impact of the Obama tax hikes in fiscal year 2013, and twice the size of sequestration this year [see chart].
It takes taxpayers 6.1 billion hours—or 51 hours per household—to complete all the required filings. That’s more than six full eight-hour working days per household!
A record-breaking 47.8 million Americans are on food stamps, an increase of about 1.3 million from a year earlier. The official unemployment rate is 7.7 percent, a number that obscures the reality that millions of Americans who have given up looking for work aren’t counted, and that the labor force participation rate of 63.6 percent measured in December 2012, is the lowest in 32 years. The national debt is $16.7 trillion and growing. White House tours have been cancelled due to sequestration. And amidst it all, Barack Obama and his family have taken four lavish vacations in three months.
Every president deserves time off. Yet the unabashed luxuriousness of the Obamas’ lifestyle reflects a genuine tone-deafness with regard to the pressing concerns of millions of Americans, as well as the president’s priorities. Even as he blamed sequestration for the decision to cancel White House tours that would have cost a total of $2 million for the rest of the year, it was revealed that the known cost of Obama’s Christmas vacation in Hawaii last year was at least $4 million. That vacation was also the fourth one taken in Hawaii in four years, three of which involved separate flights First Lady Michelle Obama took to get there ahead of her husband. This year’s separate flight, necessitated by the president’s trip back to Washington to complete the fiscal cliff deal before returning to Honolulu, cost taxpayers an additional $3.24, and ran the total tab for the 2012-13 trip to more than $7 million.
The total for the four trips combined? More than $20 million.
There are many on the left, one in particular comes to mind, that believe it doesn’t matter how much the Obamas spend on vacations, or that they even take such vacations. I read with amusement, and disgust, a person making comments on the Breitbart piece about the White House induced scrubbed news story. I’m sure you can figure out which “person” I’m referring to as you read.
The issue is not whether or not the Obamas take some time off now and then. All presidents need some down time. However, let me ask the obvious question: Do you think if the Bush’s had taken as many vacations, together and separately, to such lavish locales, that the media, and the left (but I repeat myself), would be silent? That it would be just honky dory that the family spent and exorbitant amount of taxpayer dollars while the economy is damn near in the tank, and so many have given up even looking for a job, living on handouts from their fellow taxpayers? Aw HELL no! They’d be screaming bloody murder! Yet, when the right asks what right do the Obamas have to continue their lavish lifestyle at the expense of the taxpayers, WE are the bad guys? I don’t FREAKIN’ think so! Bush gave up golf during a time of war. What has Obama given up during these extremely tough economic times? Not a DAMN thing. As a matter of fact, I actually he is spending even MORE on himself and his family, than the Bushes would ever have dreamed of doing.
When President Bush took a vacation, he went to a property he owned, and did physical labor. He spent a few hours, or days, at Camp David, working. The job is 24/7, and we all know that. The Obamas spend our money to have their freakin’ dog groomed to the tune of 100K a year, plus have him flown separately at the cost of several hundred thousand more. What? His kids are too good to give a dog a bath, and blow dry him? Seriously?
If the American people weren’t hurting, I’m sure there’d be nothing more than a few raised eyebrows. However, when President Pantywaist cancels all White House tours, for kids on Spring Break, run by volunteers, yet sends his kids to a few days in the Bahamas, and a few to go skiing, what does that say about HIS priorities? We KNOW they don’t include the American people. That much has been proven time and time again!
I have no problem with the Obama girls attending Sidwell. Public school would be a security nightmare! Yet he doesn’t want YOUR kids to have the same opportunities for a decent education by denying them school vouchers, which would allow parents to choose a successful school over a failing school.
Why don’t the Obamas ever go spend time at that house they bought in Chicago? Maybe spend some time with some REAL people, ask them how THEY are doing, instead of sucking the life out of the country and her citizens in their own selfish pursuits?
Nope…not one……MANY!!! A WHOLE lot of dimes! Well now, I don’t know about you, but I believe that makes him a LIAR! Wha’cha think?
It could be considered the first vote of the 2016 presidential primary, and Sen. Marco Rubio defied most of his party by voting against the “fiscal cliff” deal GOP leader Sen. Mitch McConnell and Vice President Joseph R. Biden struck.
Mr. Rubio was one of just eight senators to vote against the legislation, which cleared in an easy 89-8 vote just after 2 a.m. on New Year’s Day.
“Thousands of small businesses, not just the wealthy, will now be forced to decide how they’ll pay this new tax and, chances are, they’ll do it by firing employees, cutting back their hours and benefits, or postponing the new hire they were looking to make,” he said. “And to make matters worse, it does nothing to bring our dangerous debt under control.”
Sen. Rand Paul, a Kentucky Republican whose father, Rep. Ron Paul, shook up the GOP’s nomination race in 2012, also voted against the deal.
To be honest, I don’t think these two men voted against it because they were thinking of 2016. I believe they did it because it was the RIGHT thing to do. Isn’t it a shame that so many others with that R behind their names are incapable of standing on principle?
Many of the GOP’s staunchest fiscal conservatives voted for the agreement, including Sen. Tom Coburn of Oklahoma and Sen. Jeff Sessions of Alabama, the ranking Republican on the Senate Budget Committee.
In other cases, my respect level went down. Didn’t have much for TN senators anymore anyway. I have NO respect for Democrat>liberal>progressive>socialist>communist anyway, so that’s not an issue.
Wouldn’t it be nice if the House of Representatives remember they are the ones who hold the purse strings, and can flat out say NO to all these destructive taxes? Wouldn’t it be nice if the whole lot would remember just how they got their jobs, and how they can, quite easily lose them? Yeah…I know… fantasy land.
Same sh*t, different day. The only thing that has changed…the year. Either we have the most selfish, feckless, incompetent weasels running the show, or they are all complete morons. I’m betting they are both. Congratulations to the leftard Democrats! Your intent was to destroy the country? You sent us well down that path in 2006, 2008, and 2012. You allow the government to steal from those who would provide jobs. Yep! Makes a whole boatload of sense, doesn’t it.
Tax Hikes to Start the New Year
While you were sleeping—or ringing in 2013—the Senate voted to raise taxes.
After missing the midnight deadline, Congress and the President have technically sent the nation over the fiscal cliff, meaning higher tax rates are already in effect for all income tax brackets. But the Senate’s deal, brokered by Senate Republican Leader Mitch McConnell (KY) and Vice President Joe Biden, would target the tax increases on those making more than $250,000.
The Senate voted 89-8 to limit deductions for taxpayers making more than $250,000, which would raise their taxes, and to hike tax rates for those making more than $400,000.
Tax rich liberals
by Ann Coulter
Republicans have been forced into a Hobson’s choice of either letting the Bush tax cuts expire for everyone or agreeing to a tax hike on the top 2 percent of income earners (not to be confused with “the rich,” who have already made, inherited or married their money).
If Republicans object to the Democrats’ hitting job creators with a tax hike, three things will happen: Taxes will go up for everyone; Republicans will be seen as the “party of the rich”; and the inevitable economic collapse will be blamed on Republicans.
If Democrats were merely trying to raise taxes on the rich in a vacuum, it would be easier for Republicans to oppose raising anyone’s taxes. But because the Bush tax cuts are only temporary, unless the high-income earners’ taxes go up, everyone’s taxes revert to pre-Bush tax rates.
Republicans cannot be the party that raised everyone’s tax rates to prove that they can’t be pushed around by the Democratic Senate and Democratic president. You don’t want job-killing tax hikes on producers? Vote Republican next time.
It is not helpful to complain, “But Republicans will be blamed no matter what they do!” Yes — true. When has that not been true? It’s not a novel insight, and it’s certainly not an argument for handing our enemies a baseball bat to bludgeon us with.
Well, he did say he wanted to ‘fundamentally transform’ this country. Through deceit, he is succeeding, and it ain’t purdy! We have the most destructive administration the country has ever known.
After reading this, a Proverbs 29:13 popped into my head:
If a ruler pays attention to lies, All his servants become wicked.
Honestly, I can’t think of better scenario to describe what we have witnessed. The supposed re-election of Barack Hussein Obama shows that the lies he learned from his mentors have increased the number of ‘the wicked’. The wicked would be the willfully ignorant, the selfish, the entitlement ‘class’, who all fell for his lies like a middle school girl with the ‘I’ll die’ crush on the captain of the football team.
To say the Obama, and his minions don’t understand the economy, or how to make it thrive would be an understatement. All the little tricks and schemes haven’t worked, yet they want to continue down that same road of destruction, and even more so? There is no logic in the Dim/liberal/progressive/socialist/commie mind.
What IS the Fiscal Cliff?
With just a few weeks left in 2012, all eyes in Washington are on Capitol Hill and the “fiscal cliff” negotiations. As usual, Congress and the President are taking highly contentious issues down to the wire before cutting a deal—never a situation that ends well for taxpayers.
Federal Reserve Chairman Ben Bernanke coined the term “fiscal cliff” while urging Congress to avoid a steep dropoff for the economy at the end of the year thanks to tax increases and automatic budget cuts.
There is no agreement right now on how to avoid it, however. When Treasury Secretary Tim Geithner presented the White House’s plan to House Speaker John Boehner (R-OH) last week, Boehner said, “You can’t be serious.” Thus far, President Obama’s answer to the fiscal cliff is a proposed $1.6 trillion in tax hikes plus new stimulus spending—and expanded power for himself to raise the debt ceiling without congressional approval. He suggests only magnifying the policies that brought us to the fiscal cliff in the first place.
I’m rather fond of my Congresscritter, Marsha Blackburn. I think she does the best she can with what she has to work with…*chibber*…the likes of Nancy Pelosi. I don’t think I’d be able to deal with that creature on a regular basis. Here is her latest message to her constituents…like ME!
I’ve heard from many of you these past few days as you’ve shared your concerns on the Fiscal Cliff. I wanted to take a moment and let you know where we’ve been, where we are, and where we’re going.
It’s important to remember we did not get here overnight. In fact, this train has been a long time coming. Since I first took office in 2003, my colleagues and I have worked to make serious cuts into the budget. Every year, I went to the Floor and offered 1, 2, and 5 percent across-the-board cuts. In 2005, we passed the Deficit Reduction Act to reduce the annual growth of mandatory spending. Just last year, we presented the President and his party’s leaders in the Senate an opportunity to cut $61 billion as a first step to resolving our spending crisis.
It is a spending crisis. Washington has a spending problem, not a revenue problem. No amount of revenue will address the spending addiction of Washington’s bureaucrats. The problems we face will be solved not by raising taxes, but by drastically reducing spending.
Listed here are 4 of the many bills House Republicans have passed this year to help avoid the Fiscal Cliff:
• Sequester Reconciliation Act of 2012, H.R. 5652. The legislation would provide mandatory spending reductions in order to replace automatic cuts to discretionary spending (primarily from defense accounts) in 2013 under the Budget Control Act and to reduce the deficit. The savings generated from these reforms to mandatory programs would first be used to offset the approximately $78 billion cost of replacing the automatic across-the-board discretionary spending cuts that are scheduled to occur on January 2, 2013, under what is known as sequestration. The amount of $78 billion reflects the remainder of the FY 2013 discretionary sequester after accounting for lowering the FY 2013 discretionary cap from $1.047 to $1.028 as provided for in the House-approved Budget Resolution. The additional savings achieved through reconciliation beyond the $78 billion (over $180 billion in the next ten years) would further reduce the deficit.
• National Security and Jobs Protection Act, H.R. 6365. H.R. 6365 would repeal the across-the-board defense and non-defense discretionary spending cuts scheduled to occur on January 2, 2013, upon the enactment of H.R. 5652, the Sequester Replacement Reconciliation Act of 2012, or any legislation that offsets the automatic sequester with equal or greater spending reductions over the next five years. The bill in and of itself would not repeal the sequester. However, it would ensure that if any legislation to replace the sequester with alternative spending reductions were enacted, the sequester would be shut off. In the event that the sequestration is replaced, the bill would lower the discretionary spending cap for FY 2013 from $1.047 trillion to $1.028 trillion.
• Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012, H.R. 6169. H.R. 6169 would provide an expedited pathway to pro-growth tax reform in 2013. H.R. 6169, the Pathway to Job Creation through a Simpler, Fairer Tax Code Act of 2012, would require the House and Senate to consider tax reform legislation according to an expedited timeline.
• Job Protection and Recession Prevention Act of 2012, H.R. 8. H.R. 8 would provide a one year extension of all current individual tax rates, as well as the 15 percent top rate on capital gains and dividends. The proposal would also extend for one year the estate tax rates at their current levels, the $1,000 child tax credit, marriage penalty relief and certain educational tax credits. The bill would also provide higher small business expensing limits for one year and would repeal the personal exemption phase-out and the “Pease” limitations in 2013. Finally, the bill would provide a two-year AMT patch which would be adjusted for inflation. Coupled with H.R. 6169, H.R. 8 will ensure that individual tax rates will not increase while comprehensive, pro-growth tax reform is crafter under expedited procedures in 2013.
As we move forward, I wanted to remind you of the promise I made to you not to raise taxes. Our problem is not that Washington taxes too little, it’s that we spend too much. I am opposed to raising tax rates. Instead, Congress needs to focus on solutions such as cleaning up the tax code, closing loopholes, addressing meaningful entitlement reform, and making real spending cuts. If we don’t change course, we’re headed toward a bleak fiscal and economic future.
As you can tell, it’s not the Republicans that are blocking anything. They put forth bill after bill with the same results. The Democrats (socialists), both in the Senate and the White House, don’t want to solve the problem. They want to spend, spend, spend…and tax, tax, tax so they can spend, spend, spend. So, when we fall off that ‘fiscal cliff’, no matter what is put forth, remember just who it is that prevent anything from getting accomplished.
One thing though…it’s the House that controls the purse strings. The House can refuse to fund the Democrats stupidity. I’d suggest they take that purse, and put a lock on it, until they Dims learn how to balance a checkbook. Stop funding the alphabets that are pushing crippling regulations.
House Republican leaders said Wednesday they’ve done their job in negotiations to solve the looming fiscal crisis, while President Obama is returning to the campaign trail to sell tax hikes that studies show won’t have much, if any, effect on solving the problem.
Psst! HEY!!! OBAMA!!! The election is over. Your droolers stole it for ya. You can stop campaigning now, and pretend like you have a clue! Well, dang! I forgot! You don’t HAVE ONE!
“We have done our part by putting revenue on the table,” said House Majority Leader Eric Cantor.
Cantor and fellow House leaders have agreed to close tax loopholes to generate revenue to reduce the $1.1 trillion annual deficit. But they argue the president has yet to say publicly what cuts he will make to the federal budget — specifically to costly entitlement programs such as Medicare, Medicaid and Social Security — to reduce the deficit.
They also say the president’s plan to extend tax cuts only to middle-class Americans will not generate enough revenue to significantly reduce the deficit.
Now, I don’t mean to be tacky, but it’s not the middle class that creates the jobs. How about you dipwads up there in that cesspool we call the nation’s capital stop spending OUR money. You wanna spend? USE YOUR OWN MONEY! We don’t have anymore! Y’all have royally screwed us, and not even a kiss or an offer of dinner! WE, The People are pretty fed up with all of y’all’s shenanigans, and if ya don’t watch out, ya might find yourselves riding on a rail!
Sperling told House Democrats that failing to extend Bush-era tax cuts to the top 2 percent of income earners could trickle down to hit the middle class, sources tell Fox News.
It never ceases to amaze me just how utterly stupid Dims truly are! Honestly, I don’t a one of them could pass a third grade math test! To put it simply, if you tax ‘the rich’, which, according to those fools, is anyone who makes more than $250K a year, you will be killing more small businesses. When you kill business, you don’t have jobs. When there are no jobs, you don’t have taxpayers. Is it really that freakin’ complicated for them to grasp?
On Wednesday, the president will ramp up his public pitch amid a backdrop of hand-picked, middle-class voters at the White House.
Hand picked, eh? I’d like to pick…. Never mind. In other words, he’s gonna have the SEIU and the like surrounding him, giving him adoring glances, praising his name. (GAG!) Here’s a thought… how about you get out here and talk to REAL PEOPLE, instead of your droolers? Naw. You couldn’t do that, because then you’d find out…you are NOT ‘the messiah’.
I came to the conclusion quite a while ago that Warren Buffet is either an idiot, senile, oblivious, or barking mad. Perhaps a combination of all four? Typically, an idiot could have become as successful as he has, but that’s not always the case. At his age, the dude is 82 fer cryin’ out loud, senility is a possibility. I suppose when you are cocooned in your billions, you don’t have much contact with the REAL world, so his being completely oblivious to what is going on in OUR reality doesn’t affect him. Then, he just might be stark raving mad…ready for the rubber room and straight jacket.
What is apparent is that he, Obama, and their ilk, have a total lack of common sense!
4 Reasons Warren Buffett Is Wrong on Tax Hikes
Let’s talk taxes. In a New York Times op-ed yesterday, famed investor and Berkshire Hathaway CEO Warren Buffett once again argued that the wealthy should be taxed more.
This isn’t the first time Buffett has made the case for higher taxes, and it’s not the first time he’s been wrong. Here are four reasons he is wrong to push for tax hikes.
1. Buffett says tax hikes won’t hurt jobs.
Fact: Tax hikes, especially those he espouses, hurt jobs.
Buffett cites periods when tax rates were high and says that “Under those burdensome rates,” employment “increased at a rapid clip.”
This country has an employment problem right now, and tax rates aren’t even as high as Buffett wants. The tax increases President Obama champions would hit small businesses that create jobs. According to Treasury figures, 1.2 million Americans who employ people are paying their taxes through the individual income tax, and they would be hit head-on. The amount that their taxes would go up could be roughly equivalent to one employee’s salary, meaning that’s one person they can’t hire in the new year. A study by Ernst and Young estimates that these tax hikes would kill 710,000 jobs.
To be perfectly honest, I don’t think we ever came out of the first one! When Obama continues to spout how he inherited a mess, in a way, he’s right. A mess that HE, as a senator, is partly responsible for, under the two years of complete Democrat control of BOTH houses, starting in 2007. Yep…they made a mess alright!
And what has Obama done to rectify this problem? Well, not a damn thing….unless you consider how much WORSE he has made it. In Obama’s world, the unicorns are the government, farting rainbows that gives everyone a pot of gold. Problem is, there are no unicorns, and that pot of gold is being stolen from someone who actually EARNED it, and is given to those who don’t. Everyone has the same opportunity to succeed, or fail, but when you add the government into the mix, the odds of succeeding decreases a great deal! Regulations, taxes, roadblocks at every turn. THAT is Obama’s America! And we will NOT survive another four years. But then, that’s his intent, isn’t it.
People talk about the Greatest Generation, those who stood up for their country, and the world, during WWII, which included my dad, and ALL my uncles….all 11 of them. Will that be our LAST great generation? I pray not!
Another Recession Is Imminent
Yesterday, the Congressional Budget Office (CBO) reported that without a doubt, America will have a fresh recession next year unless Congress and the President prevent it.
We are facing the largest tax increase in history—Taxmageddon, scheduled to take effect January 1—and what experts are calling a “fiscal cliff” of sharp and unforgiving budget changes that will send the country spiraling downward. Congress and the President have the power to prevent this, and when the August congressional recess is over, that is exactly what they should do.
Ok, let’s call it like it is….WE GOT SCREWED! This administration took OUR money, and gave to thug organizations who have done little more than ramp up the cost of living over the last 40 or so years. His criminal activity, free spending of money that doesn’t belong to him, and his pettiness should be an good indication as to what type of person he truly is! He has violated his oath of office at every turn, and has turned this country into a laughing stock. He has put more people on the public dole thanks, in LARGE part, to his worthless, and work-less, policies. Yet, he knows better than we peons, cuz he’s so smart! Riiiiiiiiiiiiiight! My great grandson has more intelligence than the man/child currently occupying the White House, and he’s only 5 months old!
Way past time for him to go! And hopefully, we’ll be seeing charges brought against him, and his administration in the not too distant future!
Taxpayers’ Auto Bailout Losses Mounting
Taxpayers will lose even more on the auto bailout than previously thought, as the Treasury has just revised its estimate upward to $25 billion. This may still underestimate the losses to come—yet President Obama plans to tout the auto bailout as a key accomplishment of his Administration.
Politico recently obtained a draft of planning documents for the Democratic National Convention, finding a repeated focus on the auto bailout. The draft described the convention’s objectives:
Tell the story of the President’s accomplishments—the auto rescue, manufacturing, ending the war, health care, energy—as central to his fight for the middle class and America’s long-term economic strength.
As the losses continue to grow, will the President acknowledge that the only people truly “rescued” were unions? The President could have kept the automakers running without losing money—if he had restricted his Administration’s involvement to only providing bankruptcy financing. Instead, the Obama Administration involved itself heavily in the bankruptcy process, picking winners and losers instead of following normal bankruptcy law.
President Obama tells a group of donors that “we tried our” economic plan “and it worked.” Even in politics, where exaggeration is a way of life, that statement stands out as a lie for the ages. (source)
An Indiana-based medical equipment manufacturer says it’s scrapping plans to open five new plants in the coming years because of a looming tax tied to President Obama’s health care overhaul law.
Cook Medical claims the tax on medical devices, set to take effect next year, will cost the company roughly $20 million a year, cutting into money that would otherwise go toward expanding into new facilities over the next five years.
“This is the equivalent of about a plant a year that we’re not going to be able to build,” a company spokesman told FoxNews.com.
He said the original plan was to build factories in “hard-pressed” Midwestern communities, each employing up to 300 people. But those factories cost roughly the same amount as the projected cost of the new tax.
“In reality, we’re not looking at the U.S. to build factories anymore as long as this tax is in place. We can’t, to be competitive,” he said.
Oh yeah….it’s working alright! /snark
When people complain that companies are moving overseas, they don’t need to look any farther than their own reflections in the mirror. Between the taxes, the regulations, and the unions, there’s NO way I’d build, or expand a business in my own country. Unless, or until, we can get a grip on the utter stupidity coming out of Washington, D.C., we will NOT see any business growth, or economic recovery. It’s just that simple!