Archive for the 'Taxes' Category

Illinois To Lose Electoral Votes

By Caomhin

They raised income taxes by 66%.  That is not a type, this is what happens your Congress goes absolutely berserk and starts spending like there is no tomorrow.  Eventually tomorrow comes:

The hike increases the state’s personal income tax rate from 3 percent to 5 percent.

In real numbers, if your gross income is $50,000 a year, your state income taxes will rise from $1,500 to $2,500 a year.

The hike increases the state’s personal income tax rate from 3 percent to 5 percent.

In real numbers, if your gross income is $50,000 a year, your state income taxes will rise from $1,500 to $2,500 a year.

Addictions are hard to break.  The Illinois legislature is addicted to that sweet, sweet, taxpayer money.  I wonder how many people will begin to be behind on their own bills when they loose nearly $100 a month, will have to sacrifice things for their children, and otherwise suffer the consequences of an irresponsible legislature.   In short order you can expect the unemployment rate to increase in Illinois as lower levels of disposable income means less money being pumped into local businesses.  Couple that with the nearly doubling of the corporate income rates and that may not be a problem when businesses uproot and move out of their state.  Given the state of the economy expect people to follow as well.  As a result of the disaster they have created they have severely punished the people of Illinois and due to the impending migration that will most certainly occur, they will also lose electoral votes.  Keep an eye over the next few years how much the representatives to the Federal Government try to earmark to their state.  They will have to get money from somewhere.

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Hack Ties Support of Tax Cuts to Supporting Slavery

By Caomhin

James W. Loewen, in his article in the Washington Post, entitled, “Five Myths About Why the South Seceded,” added this gem to his article:

So poor white Southerners supported slavery then, just as many low-income people support the extension of George W. Bush’s tax cuts for the wealthy now.

Nice,  right?  This hack tries to equate lower tax rates to supporting slavery.  I can only imagine what he was smoking at the time he came up with that little ditty.  I suppose he doesn’t bother checking things like, oh I don’t know, facts.  Please refer to the chart on this previous post.  Oh those greedy people making between 26,250 and 32,550 in Adjusted Gross Income struggling to pay bills and feed their families and their 87% tax reduction from the Clinton tax rate they previously suffered from, they must be pro-slavery.  I wonder if Loewen even knows that the GOP was formed as an abolitionist party.  I wonder if he understands that the government does not own our incomes and our livelihoods or if he even cares.  What a hack.

Liberals Don’t Care About Lower and Middle Class Families

By Caomhin

There’s no hiding it at this point, after having rejected a 2 year compromise that was the result of negotiations between the White House and the GOP.  Liberals went off the deep end because the plan did not include provisions to soak the rich.  Their deep seated hatred of high income earners and the sheer nerve of people not wanting to have to surrender upwards of 50% of their income after all current levels of taxes are collected have caused them to go off the deep end yet again.

Noted nutjobs such Keith Olbermann are now threatening to primary Obama because he is not going to jack up the tax rates for people who invest in start up businesses, employ people, or save money that lending institutions can use to fund the purchases of homes, cars, etc. No, it’s not enough to have the estate tax go up to level in the mid 30’s, Liberals must collect much more than that if a person were to have the audacity to earn money and the utter gall to die and will their assets to their children instead of Uncle Sam.

Yes, such is the level of liberal rage that their House caucus would rather taxes go up on every single American than to have to live with the nightmare of people not being gouged by the government for two more years.  It is much more important to take away disposable income from rich people than to make sure poor people can afford such trivial things as food and water.

Liberals are probably still scratching their heads over why they had their tails handed to them in November.  It’s garbage like this.  I’m convinced that not only do Liberals not understand math or accounting in any fashion but they fail to understand business and good governance.  With Obama up there throwing around hostage analogies and calling John Boehner a “bomb thrower,” which was even more offensive considering he used that phrase on Pearl Harbor day, they have shown themselves to be utterly clueless and completely callous.  The result of their temper tantrums and blind hatred will hurt all Americans yet again.

Bush Tax Cuts Should Be Made Permanent

By Caomhin

There is talk in some people of “the new normal,” which is essentially a view that our economic situation will never vastly improve over where we are today in the sense that there will be high levels of unemployment, lowered consumption levels, and a generally poor economic climate.  I strongly disagree with this notion.  I strongly disagree with this sentiment.  We are the greatest country on the face of the Earth.  Americans can overcome any obstacle that is thrown in their way provided that we are not hindered from doing so from external forces.

Government is not inherently bad.  I am a proponent of effective, efficient, and accountable government at each level.  On the other hand, big government, is inherently bad.  A large, bloated government puts a strain on its people through unnecessary regulation, high tax burdens, and disincentives to create among other things. Contrary to what Joe Biden recently said, essentially that government should get the credit for every innovation..ever, his view is completely wrong.  Milton Friedman’s assertion is correct.  Freidman, of course, said:

The greatest advances of civilization, whether in architecture or painting, in science and literature, in industry or agriculture, have never come from centralized government.

Innovation spurs economic activity along with other factors such as certainty, the potential for profits and growth, and freedom in the market place.  “The New Normal,” does not exist if we lower tax rates and cut spending, if we eliminate inefficient, ineffective programs and focus on maintaining a streamlined government that is responsive to the needs of the people and respects them as individuals.

We have a number of crisis heading our direction from the recently passed health care abomination to social security and Medicare.  We have the means to fix these programs and eliminate billions in waste.  We have the ability to start moving towards a partially privatized system of retirement which, when proven effective, will hopefully lead to a completely privatized system.  In terms of the current economic conditions taking disposable and investible income out of the private market to put in the government’s coffers is an astonishingly bad idea.

We are Americans, we do not begrudge someone success, we wish it upon them.  We should not be green with envy when another person reaches great heights, we should congratulate them.  When the representatives of our government go on enormous and never ending spending sprees with the citizens’ money, it is shameful when they go on TV and claim the government “can’t afford” to stop their reckless indulgences.

I am whole heartedly behind Sens. Coburn and DeMint’s crusade against earmarks and I commend Sen. Coburn in particular for reminding the GOP that they can and will face primary challenges should they ignore what the people want.  What the people want, of course, is an end to the earmark process, lower taxes, more freedom, and good governance.  We are entitled to this and we are entitled to leaders who will provide this for us.  We will continue to take our fight to the ballot box and we need these tax cuts to be permanent.

Liberal Rage Being Focused on Tea Party

By Caomhin

The level of anger that has been and continues to come from the left, in an increasing manner, at the Tea Party movement is something to behold.  Simply watching any broadcast that MSNBC puts on illustrates that point, as leftists like Keith Olbermann, Rachel Maddow, and Chris Matthews skeik in horror whenever the topic of fiscal responsibility arises.  Besides the hacks that comprise their network line up, other members of the mainstream media, unions, and other openly left wing organizations and individuals have expressed extreme rage at the Tea Party, attempting to demonize other individuals who are trying to hold the government responsible for the fiscal actions.

How ridiculous has the Leftist’s hatred grown?  Their animosity has now delved into the realm of comic books:

In issue No. 602 of Captain America, “Two Americas, Part One,” the title hero and The Falcon, a black superhero from New York City, stumble upon a protest rally in Boise, Idaho. They see scores of protesters carrying signs that say “Stop the Socialists!” and “Tea Bag The Libs Before They Tea Bag YOU!”

Captain America says the protest appears to be an “anti-tax thing,” and The Falcon jokes that he likely would not be welcomed into the crowd of “angry white folks.”

Hysterical right?  Hot Air has more on this as well as a link to the history of liberal activism in the Captain America series. It’s amazing to me the level or racism contained on the left.  Aside from the stupid Tea Bag joke, the racism on display to essentially say that an African American would not be welcomed into a group, which not only has numerous African Americans in the organization, but has nothing to do with color and everything to do with holding the government responsible for its fiscal actions is beyond belief.  Recall if you will, how union thugs attacked Kenneth Gladney, a racially motivated attack, for participating in a protest.

The left has been brutal over the years to African Americans who do not tow the Democrat’s Party line.  They’ve hurled the highly offensive “Uncle Tom” at numerous African American men who have dissented from the left, including Colin Powell. The left called Condoleezza Rice a “house *****,” on numerous occasions, here is just one example. The Democrats question the racial identity of ever single minority who does not succumb to their wishes.  That takes a tremendous amount of hypocrisy to do so from the political party who embraced slavery (the GOP was founded as an anti-slavery party) and embraced Jim Crow laws.  If not for the overwhelming support of the GOP, the Civil Rights act would not have passed over Democrat’s objections.

To return to the conversation regarding Liberal hatred of the Tea Party, we are now seeing top Democratic donors funneling money to try to silence members of the Tea Party through the long held Democratic tradition of astroturfing:

But a close look reveals the APPC’s place in a complex network of money flowing from the mountainous coffers of the country’s biggest labor unions into political slush funds for Democratic activists.

Here’s how it works: What appears like a local groundswell is in fact the creation of two men — Craig Varoga and George Rakis, Democratic Party strategists who have set up a number of so-called 527 groups, the non-profit election organizations that hammer on contentious issues (think Swift Boats, for example).

Varoga and Rakis keep a central mailing address in Washington, pulling in soft money contributions from unions and other well-padded sources to engage in what amounts to a legal laundering system. The money — tens of millions of dollars — gets circulated around to different states by the 527s, which pay for TV ads, Internet campaigns and lobbyist salaries, all while keeping the hands of the unions clean — for the most part.

The system helps hide the true sources of funding, giving the appearance of locally bred opposition in states from Oklahoma to New Jersey, or in the case of the Tea Party Web site, in Illinois.

So distraught are liberals with the fact that keep apprised of the government’s spending and budgeting tactics, that they are ramping up efforts to get people to stop paying attention to what is going on in Washington. After all, this heightened level of attention being paid by American’s citizens has led to an awakening in this country to demand accountability.  I do not believe, no matter what Liberals try to do, that Americans will simply ignore the crushing amounts of debt, high levels of unemployment, efforts to raise taxes, to socialize industries, for one second.

The liberals have made their efforts clear and the overwhelming majority of Americans have rejected these efforts.  Obama won the election based on his rhetoric, on reassurances that he supported the free market, that he would embrace transparency, and practice fiscal restraint, among other things.  At a time when our nation desperately needs these things, he has proven, in just over a year, that he does not intend to honor these commitments.  The leftists have exploded the national debt to the point where it is unsustainable, weakened the dollar, openly threatened sectors of the economy from financial to energy to healthcare, and has attempted to rapidly expand the power and size of the government.  No matter how angry the hard left gets, no matter how much money they spend, they will not stop the American people from demanding their government be held accountable nor fulfill their civic duty from participating in the democratic process, nor be dissuaded from engaging in efforts to inform the public from what is happening in this nation.

Shocka: Obama to Exempt Unions from Tax

By Caomhin

Obama, as we all know, is feeling the itch to raise taxes, much like every other liberal in this nation.  One of the taxes he is particularly found of is taxing high cost health care plans so that his dream of Socialized Medicine can come true.  It is important to note here that while he is seeking new tax revenues for this plan, he will also severely underfund this plan and plunge America into yet another entitlement program crisis years down the line, another modus operandi of liberals.

Consider the fact that Obama has wanted his tax on “Cadillac” health-care plans, ones that exceed an annual premium of $8,900 for individuals and $24,000 for families.  Here in America we believe that all people are created equally, unless of course you are a liberal, in which case you don’t believe that at all.  Case in point is the Unions opposition this plan, and apparently, all that money they paid the Obama campaign and other Democrats granted them protection from a tax that Obama thought was necessary for everyone who has these health care plans…except for Union Workers:

The sweetheart deal, hammered out behind closed doors, will save union employees at least $60 billion over the years involved, while others won’t be as lucky — they’ll have to cough up almost $90 billion.

The 40 percent excise tax on what have come to be called “Cadillac” health-care plans would exempt collective-bargaining contracts covering government employees and other union members until Jan. 1, 2018.

So it’s imperative to tax everyone who falls under his plan unless you gave money to his campaign and actively supported his campaign.  Everyday we see a little more hubris and hypocrisy from Obama.  He wants socialized health care, but he doesn’t want supporters of Democrats to pay for it.  Actually, as we have seen with Geithner and nearly all his appointees and nominees for posts, liberals simply cheat on their taxes anyway.  Besides, if Union members are treated as other Americans, have less disposable income, and get hosed by liberals, who will stuff money into liberal coffers and get dead people to the polls?

Cap and Trade Lie Exposed

By Caomhin

Leftists were adamant that opponents to the Cap and Trade bill were lying, that cost would be minimal and that opponents of this legislation were stating a falsehood when we noted that this bill would lead to a large tax imposed on every American and have very negative effects on our economy.  Guess who was correct:

The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.

A previously unreleased analysis prepared by the U.S. Department of Treasury says the total in new taxes would be between $100 billion to $200 billion a year. At the upper end of the administration’s estimate, the cost per American household would be an extra $1,761 a year.

Obama officials released this study, not energy groups or opponents of the legislations but the SUPPORTERS of this legislation.  Obama’s own Administration (remember, the Treasury is led by tax cheat Tim Geithner) concluded this and concealed this information, all the while trying to maintain the lie that they won’t raise taxes on “95%” of Americans.  Of course we all knew he and his liberal allies were lying about this but we’re the ones who were catching flack for calling them out on it.  I’m not holding my breath for an apology either.  However, how dishonest can one be to conclude that the upper range for the tax burden on the average American family will be an extra $1,761, withhold that information and then dump the info after being sued under the Freedom of Information Act to release it?

Two other pieces to take away from the article, the first:

One odd point: The document written by Jaffee includes this line: “It will raise energy prices and impose annual costs on the order of XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX.” The Treasury Department redacted the rest of the sentence with a thick black line.

The Freedom of Information Act, of course, contains no this-might-embarrass-the-president exemption (nor, for that matter, should federal agencies be in the business of possibly suppressing dissenting climate change voices). You’d hope the presidential administration that boasts of being the “most open and transparent in history” would be more forthcoming than this.

Declan McCullagh has that right, though I’m a bit more cynical than that.  Obama has been on record even after this horrific bill passed the House maintaining that taxes on the middle and lower classes wouldn’t be raised by one cent, but he KNEW that was false per these documents.

The last point to take away is the hilarious update where the Environmental Defense Fund says that the Treasury Department is wrong about the cost of Cap and Trade on the average American family because the Treasury Department hasn’t factored in the “redistribution of revenue.”