The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

Archive for December 12th, 2010

Rep Bachmann: Obama flat out lies in his statements

Posted by iusbvision on December 12, 2010

RightScoop has the video.

Bachmann:

He said for instance…that Republicans want to end middle class tax cuts. I thought ‘are you kidding me? The Republicans want to end middle class tax cuts?’ He said that it’s his job to grow the economy. He made one kinda odd statement after the other. And he said Republicans oppose various credits for the middle class. Those are flat-out lies!

 

The truth is that Democrats are not interested in taxing the wealthy and in recent years never have. Most of the very wealthy enjoy a 16,000 page tax code that is filled with exceptions. Much of the income for the truly wealthy is defines as non wage earnings, meaning that they are non taxable or taxable under a much lower rate. This is why John Kerry, who also wants to raise your taxes, paid only 12.34% federal tax on his $5,0072,000 he made in 2003.

The wealthy also have the option of just parking their money in a tax deferred growth account or some other shelter, buy gold, or just invest in China. Remember that it can only ba taxed when the money is moved. They have the option of simply not moving it, small businesses don’t have that option. 

So while Google who earned 3.1 Billion dollars last year paid 2.4% tax they throw gala fund-raising events for Obama and give mega-bucks to the Democrats. In the mean time the small business Sub-S corporations (pizza shops, small manufacturing businesses, construction etc)  who also pay in this tax rate are facing a new rate of 39.6%. Obama demonized the Chamber of Commerce most of the last year and who do they represent… you guessed it, most small business. Small businesses such as a small roofing manufacturer may bring in over $250,000 on paper, the simple truth is that most of that money is put back in the business. The small business owner, employer, risk taker has to pay everyone else first, the bills and the taxes all before he pays himself.

This brings us to Norton’s First Law: Big business loves big government because big government taxes and regulates the small to medium sized competition out of the competition.

The left and the elite media says that continuing current tax rates will cost the government half a trillion dollars. This is nonsense because the government increases its revenue when people move their money and when the economy grows, not when it jacks the rates up. The half a trillion dollars figure is an inflated Keynesian static model, the same static model that underestimated the 20 year cost of Medicare by a factor of 10 and the same kind of static Keynesian model that predicted that the Obama Stimulus would keep unemployment below 8%.

Always remember, figues don’t lie but liars figure.

Posted in 2012, Chuck Norton, Corporatism, Dirty Tricks, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | 1 Comment »

API: Recent Studies Show Obama Drilling Moratorium Will Cost 50,000 Jobs; 160,000 by 2032.

Posted by iusbvision on December 12, 2010

While Obama tried to stop offshore drilling and exploration here and while his administration puts more of our domestic resources off-limits, the White House is using taxpayer dollars to aid Petro-Brazil’s  offshore drilling efforts in waters deeper than the United States. George Soros is an investor in PetroBraz and this falls in line with the view of the academic left, that the wealth of the united states should be redistributed to the rest of the world. One way to do that is to send our jobs overseas and to have us send our money abroad for energy.

Jack Gerard API:

“As our country looks for ways out of the hole of lackluster economic growth and job creation, today’s decision shows that this administration would rather keep digging than take the ladder to increased economic prosperity offered by developing our nation’s domestic energy resources. “The oil and natural gas industry is a reliable vehicle for growing the economy and creating good-paying jobs.

This decision shuts the door on new development off our nation’s coasts and effectively ensures that new American jobs will not be realized. It will stifle investment, deny billions in revenue for critical government services and increase our dependence on foreign energy sources.

“The oil and natural gas industry is committed to safe and environmentally responsible operations, and both the industry and regulators have added new safeguards to ensure such operations. This reversal on new lease sales off America’s coasts comes on top of a de facto moratorium, which has all but stopped new drilling in the Gulf of Mexico.” 

 

More from Jan Van Ryan:

For months, numerous studies–such as this one from LSU professor Dr. Joseph Mason and another by Moody’s Analytics–have demonstrated the significant economic impact the deepwater drilling moratorium could have on the Gulf and U.S. economies.

A Southern Methodist University (SMU) study released this week is no different, and it presents some alarming figures on the impact the de facto moratorium is having on shallow-water drilling.

According to Dr. Bernard L. Weinstein, associate director of SMU’s Maguire Energy Institute, the Interior Department’s slowdown in issuing new permits for shallow-water drilling operations could mean:  

  • 50,000 lost jobs;
  • Economic losses of $4.3 billion that would occur if 75 percent of the rigs become idle as a result of fewer issued permits; and
  • $12.5 billion in lost income nationwide.

As Dr. Weinstein points out, shallow-water drilling is extremely safe. In the last 15 years, the federal government reports that more than 11,000 wells have been drilled and just 15 barrels of oil have spilled as a result of a loss of well control:  

“Shallow-water drillers work in less than 500 feet of water, mainly extracting natural gas. Projects center on well-charted fields of known pressure and geography, using simple and straightforward technology.”

 

Prior to the moratorium, 10 to 15 permits for new shallow-water wells were approved each month. But since April, only seven permits for new shallow-water wells have been issued, and 15 of 46 shallow-water rigs in the Gulf are idle.  

As Jack Gerard mentioned in a blog post last week, a drilling slowdown hurts more than just oil companies. It’s time to put the oil and natural gas industry back to work and produce reliable American energy for Americans

Posted in 2012, Chuck Norton, Energy & Taxes, Government Gone Wild, Obama and Congress Post Inaugration | 1 Comment »

222 companies and unions get ObamaCare waivers from White House

Posted by iusbvision on December 12, 2010

It used to be 111, now its 222. More picking winners and losers.

It is just as the White House told the AARP when they were not so thrilled about the new law, “Either help create the menu or you will be on it”. After the favors AARP won they were all for it, but then we saw this:

AARP and Many Others Hiking Premiums or Dumping Coverage Because of ObamaCare

Norton’s First Law: Big business loves big government because big government taxes and regulated the small to medium sized competition out of the competition.

Fox News:

The Obama administration has allowed 222 employers, insurers and unions to opt out of a key mandate in the new health care law – a number that has grown exponentially in the past two months.  Employers like McDonald’s, Waffle House and Universal Orlando are among the companies that have received a one-year waiver, allowing them to maintain minimal coverage below the new law’s standards.

The list has grown significantly since October, when 30 companies had waivers, and has doubled since early November. Taken together, the companies cover more than 1.5 million people, including 34 unions with more than 140,000 members.

Other companies and unions that received waivers include Ruby Tuesday, AMB Bowling Worldwide, and the local chapters of the International Brotherhood of Trade Unions Health and Welfare Fund and the Teamsters.

Although the waivers are to last one year, groups can apply to extend them until 2014.

Many unions had fought hard for health reform and were dismissive about fears that companies would simply dump their coverage if health reform passed. But unions are now demanding to be exempt from the new law.

Many of the nation’s biggest unions also had backed President Obama’s campaign. Early in the health-reform debate, unions won exemptions to the tax on so-called Cadillac health-care plans — those with the most generous benefits.

Workers affected by these exemptions are now left to wonder whether their low-cost health-insurance plans will continue to provide the coverage they need.

Companies who do not get waivers are left wondering whether it’s fair that they must follow the health-reform rules and regulations that every other company in the United States must follow, while their competitors who got waivers do not.

Taxpayers are left wondering if it will be just as easy for them to get waivers on the individual mandate, which says everyone must buy health coverage or pay an annual fine, anywhere from $750 per person to not more than $2,250 per household.

The federal government began granting waivers from a part of the health-reform law in September when it gave the fast-food chain McDonald’s an exemption on its mini-med plans, paid for by the company.

Mini-med plans cover part-time and low-wage workers. McDonald’s threatened to drop its mini-med plans, covering 30,000 workers, if it did not receive an exemption.


Posted in 2012, Chuck Norton, Economics 101, Health Law, Obama and Congress Post Inaugration | 1 Comment »

“Merry Christmas” is coming back to retailers due to pressure from traditionalists

Posted by iusbvision on December 12, 2010

Good. We are almost 90% of the population here. Our system of law is based on Western Christian Scholasticism. Since our rights come from God we should exercise them with Him in mind.

Do you go to Israel and tell them no Hanukkah? Do you go to Saudi Arabia and tell then no Ramadan? When in Rome folks…

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Culture War | 1 Comment »

New poll says nearly half of all doctors will retire or make significant changes to practice due to ObamaCare

Posted by iusbvision on December 12, 2010

This is the third poll to say this. The first two were the Medicus Poll and the IBD Poll.

IBD:

When we said nearly half of U.S. doctors might close their practices or retire early rather than live under the Democrats’ health overhaul, we were heavily criticized. The critics, though, were wrong.

Four in nine doctors responding to an IBD/TIPP poll sent out in August 2009 said they “would consider leaving their practice or taking an early retirement” if Congress passed what has become known as ObamaCare. That means as many as 360,000 physicians have plans to be doing something other than treating the growing number of patients in this country.

The doctors also told us — 67% to 22%, with 11% not responding — that they expected fewer students to apply for medical school in the future if the plan became law.

Given these views, it’s no surprise that 71% were doubtful that the government would be able to cover the 47 million uninsured Americans with better care at lower costs, which ObamaCare supporters have promised.

Other findings from our poll of 1,376 doctors included: six in 10 agreeing that the Democrats’ plan would strip drug companies of the incentives they need to make lifesaving pharmaceuticals, and 65% believing that a government overhaul would lead to lower-quality care for seniors.

The critics said our poll was not credible, was “shabby” and “garbage.” They accused IBD of being partisan, pursuing an agenda, trying to sway gullible readers with shameless journalism.

Useful rhetoric for keeping the left stirred up, but it was nothing more than an attempt to poison findings the critics didn’t like.

Now a Merritt Hawkins survey of 2,379 doctors for the Physicians Foundation completed in August has vindicated our poll. It found that 40% of doctors said they would “retire, seek a nonclinical job in health care, or seek a job or business unrelated to health care” over the next three years as the overhaul is phased in.

Of those who said they planned to retire, 28% are 55 or younger and nearly half (49%) are 60 or younger.

A larger portion (74%) said they plan to make “one or more significant changes in their practices in the next one to three years, a time when many provisions of health reform will be phased in.”

In addition to retirement, and finding nonclinical jobs elsewhere, those changes include working part time, closing practices to new patients, employment at a hospital, cutting back on the number of patients and switching to a cash or concierge practice.

A deeper look at the results reveals eight in 10 believe ObamaCare “will erode the viability of the private practice model” while six in 10 are convinced they will be compelled to “close or significantly restrict” their practices to at least one category of patient.

Over half (56%) said they believe the government takeover will affect the quality of care they are able to provide their patients and 86% said doctors weren’t “adequately represented to policymakers and the public during the run-up to passage of health reform.”

It’s significant that the Physicians Foundation survey was taken from the membership of the American Medical Association.

After initially indicating opposition to ObamaCare, that group supported the legislation. For that reason, Dr. Marc Siegel said Tuesday on Fox News that he would be “more worried about non-AMA members and what they have to say.”

We think that we already covered that concern with our 2009 poll.

Doctors simply don’t like what the Democrats have force-fed them. A large segment of the healing profession says it’s willing to close its doors rather than endure the problems that will be created by the overhaul.

Unfortunately, this is exactly the sort of outcome that’s expected when lawmakers leave common sense behind and work far outside their moral and constitutional authority.

Posted in 2012, Chuck Norton, Health Law, Is the cost of government high enough yet?, Journalism Is Dead, Obama and Congress Post Inaugration | Leave a Comment »

Baywatch Star Singled Out for ‘Nude’ Bodyscan. Mocked by TSA Employees

Posted by iusbvision on December 12, 2010

 

KTLA:

Former ‘Baywatch’ star Donna D’Errico says she was singled out by a TSA agent for a full body scan while traveling through LAX. The actress thinks the system of randomly selecting passengers for scans should be changed.

D’Errico says she was recently flying to Pittsburgh with her boyfriend and 17-year-old son when she was approached by a TSA agent immediately after she placed her luggage on the moving carrier.

“A male TSA agent took me by the elbow and said come with me,” D’Errico told KTLA.

D’Errico, 42, says when she asked the agent why she was singled out for the full body scan and not others he responded, “because you caught my eye and they didn’t.”

Her son was also given the body scan after she told the agent that they were traveling together, she said.

D’Errico says the agent never gave her the option for a pat-down.

Once she got through the line, she says she looked back and saw the TSA agent laughing, whispering and smiling as he and two other male TSA agents looked at her.

“I felt like I was in high school,” she said.

D’Errico says no one else from the long line was pulled aside for a body scan.

She says she would like to see the system changed.

“You shouldn’t have a human being randomly selecting people,” she said.

Posted in Chuck Norton, Culture War, Government Gone Wild, Obama and Congress Post Inaugration | Leave a Comment »