Posts Tagged 'Budget'

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.

Ed Rendell STILL Trying to Raise Taxes

By Caomhin

Give Fast Eddie some credit, I suppose, when he is determined to do something, he won’t give up on it.  Of course, what he is determined to do is continue to harm Pennsylvanians by assaulting their bottom line while fattening up the commonwealth’s budget.  His new “budget” plan was announced today:

Under the plan, Rendell proposes reducing the state sales tax rate from 6 percent to 4 percent, but to extend it to 74 services and other transactions that are currently exempt, including professional laundry, candy, gum and personal hygiene products. His plan would keep intact some major exemptions, including those on groceries, clothing and prescription drugs.

He also is reviving tax increase proposals he has offered before, including extending the tobacco tax to cigars and smokeless tobacco and adding a new severance tax on natural gas extraction to capitalize on the exploration industry’s hot pursuit of the Marcellus Shale gas reserve.

Rendell really has it out for the natural gas industry and the ability of Pennsylvanians to heat their homes and live in comfort with lower energy bills.  His bitterness at keeping our homes at 65 degrees during winter is amazing.  However, for a full list of things he is looking to tax, have a look here.  Some highlights:

Caskets and Burial Vaults

Coal

Electrical, plumbing, heating and air conditioning service fees

Financial Institution Fees

Firewood

Flags

Funeral Parlors, Crematories, and Death Care Services

Residential Electric Service

Textbooks

Really consider that list for a moment.  Rendell wants to tax you simply for living and dying.  Think about it.  We here in Pennsylvania heat our homes with either natural gas, coal, oil, wood, or electric, all subject to new taxes under his sub moronic plan.  We all use electricity, so that’s a double whammy for many and a sucker punch in the gut for the rest.  Want to buy an American Flag to proudly display outside your home?  Rendell would like you to pay extra.  Have a bank?  Fast Eddie would like a cut.  Like to learn?  He wants to tax your textbooks.  When you pass away he also wants to put the clamps on your family for taking care of your final expenses for honoring you with dignity and being paid your final respects.  There is nothing this man will not try to profit from and it’s disgusting.

For other budget “highlights,” feel free to click here.  This train wreck of a plan must be stopped at all costs.  This is a governor who could care less about the people of Pennsylvania and his contempt for us is clear.  Facing a budget crisis that he created, his reckless, idiotic, and frivolous increases in spending and taxes, have handicapped the ability of Pennsylvanians’ to increase their standard of living.  So badly has he damaged this Commonwealth’s finances, that he is begging for money from the federal government, looking to tax nearly everything in existence, and has caused financial problems that will hound us for years.  His casino plans were a disaster, what should have been something to benefit Pennsylvanians has done little for us.  He doesn’t even have the common decency to keep spending flat facing a “fiscal tsunami” that he created by keeping spending flat and making difficult cuts because he is too much of a coward and incompetent to do so.  Come November, when I have the honor of voting in a Rendell-free election, knowing full well that no matter what happens, Fast Eddie will be leaving Harrisburg shortly, then I’ll breathe a bit easier.  Until then, I will not stand idly by as Rendell attempts to further damage our great Commonwealth.

Obama’s Change: Record Deficits

By Caomhin

In his State of the Union Obama talked about not rewarding failure.  Americans should keep these words in mind this November and in 2012.  Obama’s projected budgets cast deficits as far out as projections allow, and for the fiscal year of 2011 Obama is determined to set records:

Republicans on Monday slammed President Obama’s $3.8 trillion budget as a fiscally irresponsible spending spree, casting doubt on the administration’s claim that the budget reflects cutbacks and hard choices.

The fiscal year 2011 budget, sent to Congress Monday, includes new jobs-creation programs and additional funding for the wars in Iraq and Afghanistan, but is projected to add nearly $1.3 trillion in deficit spending on top of the current year’s projected $1.6 trillion deficit. As he unveiled the budget, Obama warned the federal government to stop treating taxpayer dollars like “Monopoly money.”

Obama has the nerve to utter that last line, failing to recognize his utter destruction he has perpetrated against this nation’s finances.  He is proposing a $1.6 TRILLION DEFICIT. This doesn’t even include his government run health care plan.  This is on top of the $1.56 Trillion dollar deficit he ran last year.  Remember, this is before he and his liberal allies ram even more programs and spending bills down our throats.  Assuming Congress does nothing else, at all, about anything, until next year, Obama will have increased the deficit by $3.16 Trillion in 2 years.  That number is sure to grow.  So for Obama to say that government should stop treating the taxpayer dollar like “Monopoly money,” when he is in fact, the one doing it, it is offensive to anyone who pays taxes and lives in this nation.  He is putting our nation into levels of unsustainable debt and we will all feel the repercussions of this.  The liberals need to go, for the good of our nation, for its survival, they must be voted out.

Another key fact to note from this article:

According to White House estimates, the budget’s deficit for fiscal year 2013 would drop to $700 billion before jumping back up to $1 trillion in 2020, the furthest out that budgeters will predict.

He has projected deficits as far out as they can even project.  Additionally, his budget proposes eliminating most of the Bush Tax cuts that actually spurred investment and economic activity, bringing tax relief to all Americans, and greatly helped American small businesses.  He is also assuming an unemployment rate of close to 10% if not higher for the next two years.  He proposes raising taxes during a depression and spending uncontrollably for as long as he is in office and he thinks somehow, this can fix things.  He is wrong, the liberals are wrong, and they must go.  We cannot continue to pay the price for our “leadership’s” failure.  They must be voted out.

Obama has shown no restraint and refuses to take responsibility for his actions, always pointing the finger at others.  His hubris is so deep that he cannot even recognize the harm he is doing to our nation from the ability of families to maintain purchasing power from a strong dollar to our reputation globally as he continues to undermine our economy.  No amount of rhetoric can mask the reality of the situation.  It is dire and demands immediate action.  Rather than remedy the situation Obama and the liberals choose to exacerbate it, to the detriment of all Americans.  It is unconscionable.  We deserve better and Obama and the liberals must be voted out.

Ed Rendell Only Wants Tax Hikes

By Caomhin

Even as some Republicans cave and agree to tax increases on businesses, cigarettes, and move toward the legalization of table games under the proposed “bipartisan” budget proposal, Ed Rendell is vowing to threatening to veto any bill that does not allow him to raise personal income taxes, and maybe even sales tax.  This guy is unreal.  He is by far the absolute worst governor in the history of Pennsylvania, he has undermined economic growth, already has imposed staggering tax increases on the citizens and businesses of Pennsylvania, and skirts his duties by providing color commentary on Eagles games on Comcast, a practice he has refused to end despite his lack of leadership on crafting a balanced budget that stays within the means of collected revenue.  He can not and will not accept anything that does not allow him to further harm Pennsylvanians.

Ed Spendell is the prototypical liberal.  The only thing this guy knows is tax and spend.  Well that and hooking up his buddies and his old cronies in Philly.  The only silver lining is that we get to choose his replacement next year.  I can’t wait until this trainwreck is out of office and we go about solving the problems that face Pennsylvanians.   In the GOP primary we will have two solid options, Jim Gerlach  and Tom Corbett.  As of now I’m leaning toward Tom Corbett as he has been an incredibly effective Attorney General who has vigorously prosecuted many corruption cases.  The countdown is on until Spendell is gone and we should, under no circumstances, allow his irresponsible policies to further sandbag the Commonwealth even after he leaves office.

Obamanomics is Kneecapping America

By Caomhin

Sound harsh?  In reality, that’s not harsh enough.  We here at ToOurRepublic.com have been trying to sound the alarm even while Obama was on the campaign trail and we spoke against against President Bush’s bailouts as well.  Liberals and big government GOPers are still trying to say that these plans are working.  They are not.  Obama, while hiding on vacation, released the horrendous news, unemployment to stay at near 10% (far above where he said it would be if his Stimulus Porkfest passed), with deficits exploding by over 22% over the next 10 years due to his spending…in 7 months.  Worse yet, they are killing our ability to be productive in the present and in the future:

The federal government faces exploding deficits and mounting debt over the next decade, White House officials predicted Tuesday in a fiscal assessment far bleaker than what the Obama administration had estimated just a few months ago.

Figures released by the White House budget office foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May. Moreover, the figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy.

Obama economic adviser Christina Romer predicted unemployment could reach 10 percent this year and begin a slow decline next year. Still, she said, the average unemployment will be 9.3 in 2009 and 9.8 percent in 2010.

I wonder people like Arlen Specter still feel good about themselves about passing that deficit exploding bill that produced nothing except an unemployment rate that will continue to climb into 2010.  I distinctly recall, not even three weeks ago Obama saying,

“While we have rescued our economy from catastrophe, we have also begun to build a new foundation for growth.”

Bumping the national debt up to $9 trillion dollars and unemployment staying near 9.8% in 2010 is not a “catastrophe?”  Does Obama even know what economics or reality is?  He can not truly believe this.  This has to be his ego talking.  Nobody can be that disillusioned about the economy.

Some members of the media are seeing the extreme danger in Obama’s deficit bloating and are calling him out on it, not even allowing him to use his “Blame Bush,” excuse anymore, because, well, it’s a huge lie:

President Barack Obama’s budget would produce $9.3 trillion in deficits over the next decade, more than four times the deficits of Republican George W. Bush’s presidency, congressional auditors said Friday.

Worst of all, CBO says the deficit under Obama’s policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.

White House budget chief Peter Orszag said that CBO’s long-range economic projections are more pessimistic than those of the White House, private economists and the Federal Reserve and that he remained confident that Obama’s budget, if enacted, would produce smaller deficits.

Even so, Orszag acknowledged that if the CBO projections prove accurate, Obama’s budget would produce deficits that could not be sustained.

Oh, so we’re supposed to feel good about Peter Orszag saying the he thinks the CBO is too pessimistic?  This is he same guy in whom Obama relied to tell us that unemployment would not go above 8% if his Stimulus Bill passed, the man who was so far off the mark in all his projection (all on the wrong side) that people are starting to demand he resign.  This is who they roll out to try and convince the American people that Obama knows what he’s doing and that his numbers can be trusted?  From all appearances, I wouldn’t let this guy balance my check book.  Remember this picture, which it now appears that the CBO was probably too optimistic when it came up with their figures?

bushobamadeficit

If you haven’t already read Pete DuPont’s article from The Wall Street Journal entitled, “The High Cost of Liberalism,” you owe it yourself to do so.  It’s a stunning look into the future at just some of the tax increases that are going to have a tremendously negative impact on all Americans, from Main Street to Wall Street.  For the record, he mentions that it’s possible that the Democrats will keep most of President Bush’s tax cuts (which need to stay into place…and FYI if you have a a Roth 401(k) that was a result of Bush’s tax legislation as well) but I don’t buy it.  The Democrats have put us in such dire straits that they’re going to look for every penny they can get their hands on.  The people who will face the greatest impact if the Bush Tax Cuts expire?  The people making between $26,500 and $32,500 who face an 87% tax increase if they let the Bush tax cuts expire.  We’re losing our ability to compete and maybe even earn a decent living in the present and the future if we continue down this path.  The madness must be stopped.

PA Democrats: We’re Going to Raise Your Taxes No Matter What

By Caomhin

I’ve posted about it before and here I am posting about it again.  Liberals are liberals no matter where they are from.  For people who go around patting themselves on the back for being “progressive” they sure are regressive and seemingly uneducated on all matters pertaining to mathematics, finance, and common sense.  I hope you’re ready for a fight, be you moderate Democrat, Libertarian, or GOP because the House Dems threw down today and reassured the citizens of the Commonwealth, that yes, they are coming for your wallets by outright rejecting the GOP budget proposal:

The bill, crafted by the Senate Republican caucus and passed in that chamber last month, cut spending in Gov. Ed Rendell’s proposed $29 billion budget to $27.3 billion. It contained no tax increases, and limited reliance on one-time sources of revenue.

But supporters said it did a better job of matching state spending commitments with revenues.

Rendell and House Democrats, however, have maintained that the Senate budget was much harsher to those in need of state services than it needed to be, by failing to tap valuable resources like a $750 million cash reserve, or any of several tax increases proposed by the governor.

Got that?  There was a bill that would have cut spending, contained no tax increases, and limited one time revenues but Democrats just couldn’t do it because they absolutely, positively needed to raise taxes, increase spending, and increase the state deficit.  No other alternatives existed in their minds.  So I hope your ready to remind them, especially at the ballot box, that we will not and cannot pay for their incompetence and stupidity any longer.

Rendell, PA Democrats Looking to Raise Taxes

By Caomhin

Shocking, I know.  Once again, our oblivious Governor is seeking to put Pennsylvania further in the red by proposing an ever larger spending package and the Pennsylvania Democrats are not being shy about how they want to fund it.  They want to raise our personal income taxes.

Democrats, both at the state and national level, seemingly have no concept of what budgeting means.  Nor they understand the seriousness of the current economic situation, and how could they with the media currently covering Obama’s flank by painting the economic picture as somehow being  rosy, even as unemployment skyrockets to near 10%.  Recall a previous post about how Obama had set his bar so low, at that 10% number, that the media will paint his policies as success if unemployment does not exceed this shockingly high number as a success for him.  Recall, too, how when unemployment had grown to nearly 5% under President George W. Bush how terrible the media made this out to be.  It is unfathomable that the media would so obviously employ this double standard and bias.  Yet, here we are.

Back to the task at hand.  The economic health of the Commonwealth was very strong under Governor Ridge, only to have Ed Rendell pile-drive the state into economic hardship and budget difficulties.  Knowing what we know about the current state of the economy, Democrats now propose ever growing government spending programs to help “stimulate” the economy.  So what was the excuse of expanding government spending in every other year?  Democrats will always and forever want to grow the size of the government  and intrude on your everyday life.  They will never seek to downsize the government or cope with the realities of the real world.

Knowing full well that unemployment can and sadly, will continue to rise, the projections are being made with the unemployment rates holding steady, with no way of knowing how many more people may lose their jobs or what the income range of each person affected will be.  The only sure thing that can be counted on is that tax revenues will continue to fall no matter what the government does, and we can not and should not expect to take money from Federal taxes to pay for the incompetence and ignorance of Ed Rendell and Pennsylvania Democrats.  They have been an absolute train wreck on our state and we are paying the price for it.

Slashing the government budget and lower taxes will attract jobs and talented individuals to Pennsylvania.  How, do you ask, would this happen?  Simply, as other states, including Maryland and New York continue to raise taxes, people can and will move to jurisdictions with lower tax rates.  Maryland knows this well as their “millionaire” tax has resulted in lower revenues as those affected have simply moved out of the state, and we’re starting to see that in New York.  Businesses set up in areas where they are in an environment that allows for profits.

Defying all logic and  common sense, the Governor and state Democrats are committed to growing our deficits and imposing their will on those of us still fortunate enough to be employed.  For many years Pennsylvania has been a victim of a “brain drain,” as some call it, as we see those who graduate from the great educational institutions in Pennsylvania, leave the state immediately after graduation for bigger and better futures.  This doesn’t and should not be the case.  The government should not be an impediment to a better future and no individual in the Commonwealth is reassured or happy to hear about our government drawing up budgets it knows it can’t afford and then threatens our citizens thusly,:

“Practically speaking, some sort of increase in the personal income tax is the best way to solve this crisis,”

Yes, that is truly how the Democrats think.  Massive cuts or preparing a budget that meets the amount of money that is available cannot possibly fix anything, right?  So how did we get into this “crisis”?  By Democrats and Ed Rendell spending money that we don’t have on things we don’t need.  How do they propose to fix it?  By doing exactly the same thing, which just continues the downward spiral, and  we’re left to pick up the tab and clean up the mess that they have created.