An Ol' Broad's Ramblings
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!
More proof that the Democrats have NO clue how the economy works! Destroy is the name of their game, and they’re doing a mighty fine job of it! I wonder just which part of the clown in chief’s plan has worked? The part that put millions out of work? The part that has killed hundreds, if not thousands of small businesses? Or was it the part that has MORE people on food stamps, and taking some kind of aid, making them dependent on the government. I’m thinking THAT was the most important part of HIS plan. If that’s the case…then, YEP, it’s working alright!
Senate Votes to Raise Taxes on Small Businesses
Yesterday, the Senate narrowly voted (51-48) to raise taxes on 1.2 million small businesses, which will likely kill more than 700,000 jobs at a time when nearly 13 million Americans are out of work. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) joined all Republicans in bipartisan opposition to the tax hike.
This is President Obama’s economic plan. This is what he asked Congress to do. And he recently told a fundraising crowd that his economic plan has been working.
“Just like we’ve tried [Republicans'] plan, we tried our plan—and it worked,” he said.
But Obama’s Treasury Secretary, Timothy Geithner, said yesterday that “the economy is not growing fast enough,” acknowledging that “unemployment is very high.” “The institutions with authority should be doing everything they can to try to make economic growth stronger,” he said.
The President’s plan, now endorsed by the Democratic majority in the Senate, has little chance of going anywhere in the House of Representatives. But it has put the 51 Senators who want to raise taxes on record.
Ok, let’s face a few facts here. The first being….that clown in the White House has NO idea what goes on in the REAL world. He’s never lived out here with us peons, and contrary to what his fake ‘biography’ says, he was NOT an under privileged kid! Upper middle class isn’t exactly deprived…I should know! Yep…spoiled rotten I was! Then, reality stepped in. UGH! I learned a LOT, and fast. If I hadn’t, I would be one of those who was dependent on the gubmint…..pretty much like D’Bama has turned out to be. The difference is….he’ll never have to work. Not that he has for the last 3 years, or any year prior. Oh, wait a minute…didn’t he work at Baskin-Robbins for a short time one summer. Yeah…like that’s real life experience. He’ll never know how to run a business, balance a check book, which obviously isn’t one of those skills he gained while organizing communities to suck off the taxpayer teat.
Now, once again, he’s thinking that punishing the earners, those who actually CREATE jobs, is going to give him a boost in the polls. What a total maroon! When those who drool over him, realize he’s lost them their jobs, they MIGHT snap out of their stupor, but I kind of doubt it. It’s like some weird Jim Jones/David Koresch cult thing. Extremely spooky! They’ll decide that’s ok…Obama will ‘put gas in their cars, and pay their mortgage’. Sorry, folks, but D’Bama doesn’t, and won’t be, crapping gold bricks for y’all!
If there is anyway possible, this clown MUST be stopped before he totally destroys what few private sector jobs are left. Oh, there’s plenty of gubmint jobs, but once you lose those private sector jobs, and business, there will be no one to pay the taxes that pay for those overpaid gumbint jobs! And then what? No more welfare checks either, because there will be no money. Oh, I’m sure someone will think printing more money will ‘help’. *snicker* It’s a shame those idjits haven’t learned from history. Check out what happened when Confederate money became worthless…pretty much like that paper crap we got stuck with, and nothing to back it. It’s just paper. For a visual closer to our own timeline, think Zimbabwe:
And THIS is what Obama wants for our nation. Total destruction, a complete remake, and something totally alien to liberty loving Americans!
Obama’s Tax Hike on Job Creators
“The last thing you want to do is to raise taxes in the middle of a recession, because that would just suck up—take more demand out of the economy and put businesses in a further hole.”
That was President Obama in 2009, trying to reassure Americans that he was going to wait until after the recession to raise taxes. Yesterday, he began pushing again for higher taxes on the “wealthy“—which would actually hit 1.2 million of the country’s most successful job creators.
The tax increase du jour is a recycled one: The President’s long-held plan to raise taxes on incomes over $200,000 ($250,000 for families). Interestingly, President Obama is to the left of his liberal allies in Congress such as Senator Charles Schumer (D–NY) and House Minority Leader Nancy Pelosi (D–CA) on the definition of the “rich.” Schumer and Pelosi set the mark at as those making more than $1 million annually. That is five times higher than President Obama’s $200,000 mark. Apparently even they recognize the President’s plan would be too punitive on job creators (although they are still willing to stick it to the most successful job creators for the sake of class warfare).
Too Many Broken Promises in Obamacare
Yesterday, House Minority Leader Nancy Pelosi (D-CA) almost called Obamacare’s individual mandate a tax, stopping mid-word to call it a “penalty”. White House Chief of Staff Jack Lew and other spokespersons echoed this talking point. This is in spite of last week’s Supreme Court ruling that deemed the mandate unconstitutional under both the Commerce Clause and the Necessary and Proper Clause, but ruled that it could stand as part of Congress’s authority to “lay and collect taxes.”
Dubbing the individual mandate a tax saved the President’s health care law, but it’s a concept that President Obama himself has strongly denied. In a 2009 interview, President Obama argued that his individual mandate was not a tax increase, stating, “I absolutely reject that notion.”
But after last week, President Obama must now admit it’s a tax or admit the mandate is unconstitutional. It’s can only be one or the other.
Yep! The infamous Pork Report from the Beacon Center is out! Now, I gotta tell ya, I am more than disappointed to find that even though the “Rs” are now the majority in the state house for the first time since…what… Reconstruction?…. there is absolutely no difference in the spending issues. Seriously…none. The Rs are as bad as the Ds when it comes to spending other people’s money on crap. And yep…that’s what it is….C-R-A-P!
You can check out the entire report here, but my favorite is the Pork of the Year. Starting on page 6, we have….drum roll please….. LIVING THE DREAM ON YOUR DIME.
Whitney Askins, the executive director of the Upper Cumberland Development District (UCDD), had launched a project called “living the Dream” with $300,000 in seed funding from the development district. She also received million of dollars in various government grants. The funding went to purchase an elaborate mansion designed to provide housing for needy seniors. They weren’t the only ones living the dream.
What Williams (Nashville’s News Channel 5 reporter) and his team found was that Askins herself promptly moved into the mansion, filling it with her own furniture after paying herself from the “Living the Dream” coffers. She reimbursed herself nearly $10,000 for furniture and then went on a spending spree. Among her purchases:
- a $1,500 high-definition TV;
- a custom-made $25,000 staircase;
- a steam shower and sauna costing $3,000; and
- two massive fountains totaling nearly $9,000
Askins also relocated her horses and dogs to the mansion, or as she called it, a “therapeutic petting zoo” for the seniors. She also put numerous family members on the payroll, including her mother, father, sister, brother, and daughter. Each of the family members received his or her own car and gas cards.
In all, Askins blew more than $1.5 million on the project. After New Channel 5 released its findings, the development district board placed Askins on administrative leave, while state and local officials launched criminal and civil investigations into her actions. As if pouring salt in the wound, Askins applied for unemployment benefits, but fortunately, her claim was denied.
I should freakin’ hope so! While there are people desperate for work, some broad is taking your money, and having a high ol’ time with it, and then expects us to pay even more in unemployment benefits? Jiminy crickets…talk about ballsy! But I must ask…was NO ONE paying attention? Who approved the purchases? I would think with such a project, someone would have to have been doing a bit of oversight…wouldn’t you?
Were there actually any ‘needy seniors’ in the house, or was this just one big ol’ party for Askins and clan? While I’m sure the mansion (pictured in the report) would be quite pleasant for the needy seniors, I would think their needs would be more akin to food, clothing, shelter, and someone who actually CARES about THEM, and not their own comfort and desires.
People like this make me want to smack the crap out of them! Literally!
The numerous examples of how our state and local governments WASTE our money is absolutely mind boggling! At a time when everyone is strapped for cash, little luxuries have to go by the wayside, yet government carries on without a care in the world. How about some incentives for the youth…more Job Corps facilities so kids can learn a skill? Nope….gotta blow money on an industry that makes billions! Maybe using that money they blew for a $1.5 million sign for Volkswagon, who can buy it’s own sign to be seen from the air, to hire more state police that just might stop the drug trafficking through our state? How about equipping the volunteer fire departments in the small towns around the state? Just a couple of suggestions. Heaven knows, they could sure use some help in making wiser decisions!
The headline in The Washington Times:
Ummm… how would this be a win for the middle class, which the majority…well, what WAS the majority…of people fall? Now, apparently, we’re all going to be below the poverty level, joining the others that Obama has put there by the failed economic policies which has resulted in the creation in a LARGE number of government jobs, paid for by us peons, but not a whole lot in the private sector, where most of us live our day to day lives.
And let’s not forget that this overblown piece of crap that was foisted on the American people also violates the 1st Amendment. Forcing faith based organization to pay for murder is beyond the pale! Forcing people to buy something they don’t want, and then taxing them if they don’t, is also a violation.
This administration, and all who support their Marxist plans, MUST GO! I don’t give a damn where they go….just GO! Any STATE government that just follows along blindly will also need to be replaced.
I really don’t think they understand the TRUE American spirit! Too bad for them!
If you were planning on doing ANYTHING…buy a car, a house, a TV….next year, I really hope you’ve saved up your money and will be paying cash, cuz your income is going to shrink! Not necessarily because of a pay cut, but because the government believes it is entitled to YOUR money. It’s that simple.
In reality, the government doesn’t have any money. They don’t create anything. They don’t produce products or goods to EARN any money. No, what they do is take YOUR money, and spend it on mostly crap. Giving it to those who don’t earn it. That’s called theft. There is a real important rule…a commandment…from a MUCH higher authority… THOU SHALT NOT STEAL! Since the majority of those that are sent to Washington, D.C. to represent our interests have completely forgotten such simple, common sense rules, we now have a government made up of thieves. Yep…that’s what they are….thieves. And the largest theft in history is getting ready to smack us all upside the head in a very short time. Get ready!
How Taxmageddon Will Impact You
“I’ve said that this is a make-or-break moment for the middle class, and I believe it,” President Obama told an Ohio crowd yesterday. Indeed it is—because in a sluggish economy, American taxpayers are about to be clobbered by the largest tax increase in history.
Starting January 1, 2013, Americans will face a $494 billion tax increase, the highest ever in one year. According to The Washington Post, congressional aides started calling it “Taxmageddon”—a chilling reference fit for an apocalyptic nightmare. Federal Reserve Chairman Ben Bernanke has warned that it will be a “massive fiscal cliff” for the economy.
How will this affect you? Heritage has a new Taxmageddon page that shows the impact of these tax hikes on individuals. It includes an interactive map where you can click on your state to see what the average tax increase will be, based on the average income of taxpayers in your state.
Please….tell us something we didn’t already know! At least, those of us who were actually paying attention!
Auto Bailout Was Really Just a UAW Bailout
President Obama told the United Auto Workers (UAW) in February not to listen to critics of the auto bailout who said union members “made out like bandits—that saving the auto industry was just about paying back the unions.” “Really?” Obama said. “I mean, even by the standards of this town [Washington], that’s a load of you-know-what.”
New research from Heritage labor economist James Sherk proves that it was, in fact, a load of truth.
The Treasury Department estimates that taxpayers will lose $23 billion on the auto bailout. Sherk and co-author Todd Zywicki find that none of these losses came from saving jobs, but instead went to prop up the compensation of some of the most highly paid workers in America. They write:
We estimate that the Administration redistributed $26.5 billion more to the UAW than it would have received had it been treated as it usually would in bankruptcy proceedings. Taxpayers lost between $20 billion and $23 billion on the auto programs. Thus, the entire loss to the taxpayers from the auto bailout comes from the funds diverted to the UAW.
The Obama campaign is touting the bailout in Michigan this week, crowing about saved-or-created jobs. What the bailout actually saved was the UAW’s heavily padded compensation packages; what it created was a massive taxpayer loss.
The green energy sales pitch is basic to President Obama’s President Obama’s re-election campaign. Environmentalists favor it.
The justification is more jobs. But here is reality: only about 16,000 new jobs have been created. That is $5.6 million per job.
This is not highlighted in his campaign literature.
The bankruptcy of Solyndra got a lot of unexpected negative publicity. But it was soon swept under the rug.
In 2008, he said: “We can invest $15 billion a year in renewable sources of energy … to create 5 million new jobs, new energy jobs, all across [the] country, jobs that pay well, jobs that can’t be outsourced.”
The number of new jobs is not impressive.
Then there is the decline in wind energy jobs. One estimate is 10,000 jobs lost since 2009. Of course, without government subsidies and tax breaks, the industry would be unblowin’ in the wind.
There were supposed to be 200,000 new energy-related jobs from the $90 billion invested (squandered). That would have been $400,000 per job. Still too expensive, in my view.
If you want to see a 44-page piece of puffery from the White House on the benefits of this expenditure, click here.
From day one, Obama talked a big game. Problem is, he’s never had the walk to back it up. Then he discovered, what he considered an unlimited amount of funds. The problem? It wasn’t HIS pile of cash. That cash belonged to us, but that’s ok, since he was risking nothing. He’s all about OPP….or in this case….OPM!
Since the Obama campaign isn’t pointing out his massive failures, it’s up to us, you and me, to make sure people are aware of his major short comings. One of which, is a total lack of common sense. On the other hand, I’m fairly sure he knew exactly what he was doing, he just doesn’t care that he has sunk this country into an unprecedented amount of debt, more than the past five presidents….combined…including the man who apparently is his nemesis, George W. Bush. You remember him? He’s the one Obama blames for EVERYTHING, including natural disasters and hangnails.
According to TN Campaign For Liberty, one of these things is not like the other (Sesame Street reference, in case ya didn’t catch it). Now, I watched both videos, and unless I’m just dense, which is always a possibility, or haven’t had enough coffee, I honestly can’t tell the difference in content. The only difference I caught…him messing with his hair and people going up the steps. If there was something else, I missed it.
So, what does this tell me? One, the governor, who I did not support, wants to spend more money on a program that, contrary to what he says, isn’t all that productive. Small children need to be at home with their moms, not being indoctrinated by a failing school system. IF this state ever has a surplus, it should NOT be spent!
No, the state should do what most smart people would do, and be prepared, financially, for any disaster, and use said surplus to help those affected. Anyone remember the floods in 2010? We sure do! Said surplus could have helped in the clean up, and getting businesses back on their feet, without the aid of the federal government. We should take care of our own. Just one thought. It’s called, by folks back in my dad’s day, a rainy day fund….saved for emergencies, not spent the minute it comes in. Just a thought.
“I really do think that the sweet spot for our country is pro-growth tax reform,” Corker told reporters after addressing the Tennessee Business Roundtable. “That’s lowering marginal rates but doing away with loopholes (in order to) generate more revenues — and certainly economic growth — linked to long-term entitlement reform.
“I do feel consensus building around that concept on both sides of the aisle, and our first best opportunity to deal with that is going to be during the lame-duck session. I am convinced that over the next couple of years, this issue is going to be addressed.”
Oh yeah…it’s an election year alright! Excuse me Senator, but what have you been doing the last 5 1/2 years? Twiddling your thumbs and collecting a paycheck? The country has been DEMANDING tax reform for years, and just now, y’all are ‘gaining traction’ on one of the very issues the American people, YOUR bosses by the way, have been calling, emailing, and writing letters about? Seriously?
A wee bit of advice…. Leaders lead. Followers go along to get along. We don’t want any more of the ‘getting along’ nonsense. We want strong leaders who will stand up FOR We, The People, not ‘work with’ those who are to destroy us.
Another piece of advice… SCRAP THE WHOLE DAMN SYSTEM! What we have now is MUCH longer than the Holy Bible, and that Book is filled with a lot of common sense rules. The tax code is nothing more than plain ol’ horse manure, unfair to anyone, complete gobbledygook, that even those who ‘wrote it’ don’t understand. Flat or Fair, either one would make more sense, and likely generate more revenue for the country. Second, stop freakin’ spending our money on crap. We honestly don’t care why salmon swim upstream, or any thing about the sex lives of fruit flies! Our money is meant for the common defense of our people, not some moron’s pet project to see what a shrimp, which should be eaten, will do on a treadmill. Spending millions to find out why American vote? Seriously?
If you yahoos up in D.C. are serious, start taking a good hard look at the garbage you spend our money on, to make yourselves feel good, but does NOTHING to improve life in these “United” States. Use our money to secure the border, kick out criminals, shoot to kill if necessary, and shred every single page of the absurd ‘tax code’, and start from scratch. Y’all don’t need our money, all of you are a LOT better off than the average American, so cut your paychecks to what the lowest rank military man or woman earns. Kill the perks! Like I said, y’all don’t need our money, you did just fine before y’all got into office, and started raiding OUR piggy bank.
Common sense would tell MOST people, if you don’t have the money, you don’t spend it. Not D.C.! I mean, after all, it’s not their own money they are spending, and sucking out of the pockets of hard working Americans. It doesn’t bother them one bit when a company has to move its operations overseas, or go bankrupt due to all the regulations, taxes, and, let’s throw this one in there….union demands. But then, common sense hasn’t been a requirement for our capital since George Washington was president.
P.S. You may rank higher in the ‘conservative’ category than Lamar Alexander, but I honestly don’t think that being in the 60% range is anything to brag about!