Monday, April 26, 2010

Support Democrats and Continue to be Oppressed

BLA BLA BLA, Mr. President. Whatever, maybe they will believe you, but I doubt it!

Posted by Steve on 04/26 at 07:11 PM
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Wednesday, April 21, 2010

Government, The Overtaxing King

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Can we bring King George back? Maybe we were a bit hasty.

From Whiskey and Gunpowder - Government Is Still Just Like an Overtaxing King

Ever more frequently these days, the drawbridge comes down and a troop of the king’s finest sallies forth to extort from me more than half of my crops, and to read new royal proclamations whose net result is to add to the daily burden of trying to provide sustenance for family and jobs for workers.

The amount of new debt proposed by this budget is larger than the total amount of debt accumulated by the federal government from 1789 to today

$13.5 Trillion of New Debt: The president’s budget proposes to increase the national debt from today’s level of $12.3 trillion to $25.8 trillion in FY 2020 – an increase of $13.5 trillion or 109.8%.  The amount of new debt proposed by this budget is larger than the total amount of debt accumulated by the federal government from 1789 to today (even including the $3.6 trillion of new debt over the last three years).

$2.8 Trillion Tax Increase: The president’s budget submission increases taxes by $2.8 trillion over ten years. This includes allowing many of the 2001 and 2003 tax cuts to expire at the end of this year, such as allowing the top rate (which is often paid by small businesses) to increase from 35% to 39.6%, and allowing the top capital gains tax rate to return to 20%. These tax increases would take effect in an economy that, according to many economists, will still have an unemployment rate around 10%.

Mandatory Spending: Increases from last year’s level of $2.1 trillion to $3.4 trillion in 2020, an increase of $1.3 trillion or 59.4%. Within that amount: Medicare spending increases from $425 billion in 2009 to $953 billion in 2020 – an increase of $528 billion or 124.2%; Social Security spending increases from $678 billion in 2009 to $1.20 trillion in 2020 – an increase of $523 billion or 77.1%; and Medicaid spending increases from $251 billion in 2009 to $487 billion in 2020 – an increase of $236 billion or 94.0%.

Interest Payments on the Debt: Increases from $187 billion in FY 2009 to $840 billion in FY 2020 – an increase of $653 billion or 349.2%.

 

Posted by Steve on 04/21 at 07:10 PM
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Sunday, April 18, 2010

Tax Day in New York

Sign seen at a Tax Day rally in Manhattan…

GOVT TAKES         U-KEEP
69.825%                    30.175%
Federal 39.6%       
NY State 7.7%
NY City 3.65% 
FICA 6.2% 
Medicare 3.8% 
Sales Tax 8.875% 

You make it, they take it!

 

Posted by Steve on 04/18 at 10:47 AM
Blogging • Looters • Moochers • Parasites • Taxes • Permalink

Thursday, April 15, 2010

Reid, U. S. Taxes ‘Voluntary’

Yeah sure Harry, at the point of a gun!

Happy Tax Day

Posted by Steve on 04/15 at 11:30 AM
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Tuesday, April 13, 2010

Poor Algore!

Doesn’t Like Ambush Journalism. Poor Baby!

Posted by Steve on 04/13 at 01:21 PM
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Taxes and Approval Go Hand In Hand

There was a recent news article that stated that 47% of Americans don’t pay taxes.

Also, A recent poll stated that Obama’s approval rating dropped to 47%.

Coincedence? I think not.

 

Posted by Steve on 04/13 at 12:24 AM
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The Biggest Bubble of Them All

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Money Morning, Peter D. Schiff - Inflating Government Bubble Can Only Lead to a Major Financial Hangover

During the 1990s, the inflationary policy of the U.S. Federal Reserve fueled a tech-stock bubble. When that bubble burst, the Fed inflated a larger one in real estate. Now that the real estate bubble has burst, the Fed is inflating the biggest bubble of them all - a bubble in government.

While the earlier booms provided at least the illusion of prosperity - as well as some fun while they lasted - the government bubble will cripple the economy and deliver widespread misery to the vast majority of Americans.

Through corruption or just plain ignorance, Congress and the Obama administration have embraced an ideology that has failed every time it has been tried.
Take the recent student loan reforms that were slipped into the healthcare bill. U.S. President Barack Obama wants to reduce the cost of providing student loans by taking the profits out of the industry. According to President Obama, student loans are too expensive because banks profit from making them. If the government nationalizes the function, we would apparently bring down costs by eliminating those pesky profits.
This is a Marxist argument, pure and simple. If true, it would apply to all industries, not just banking. States like Cuba and North Korea would be the envy of the world, as they prohibit profits across the board. The truth is that profits - earned from free-market competition - keep cost down. By taking the profits out and putting the bureaucrats in, any incentive to provide better service or lower costs is eliminated. It’s not hard to predict that student-loan costs will now rise faster than ever.

In the end, when runaway inflation and skyrocketing interest rates burst the government bubble, there will be no more bubbles to replace it - just one hell of a hangover.

Posted by Steve on 04/13 at 12:13 AM
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Monday, April 12, 2010

The Obama Bowing Tour

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We’ll need another Trillion next year too

Yahoo News, more bowing to the east.

Posted by Steve on 04/12 at 11:57 PM
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Thursday, April 01, 2010

Heavy Handed Government

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The financial services industry in the U.S. is the most regulated industry in the world. Point to any of the causes of the meltdown, and you will not find unfettered capitalism. You’ll find the heavy hand of government, preventing the market from doing what it always does.

Dan Ferris, Stansberry & Associates, Investment Research

Posted by Steve on 04/01 at 06:28 PM
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