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

Archive for the ‘Energy & Taxes’ Category

Michele Bachmann on 2012, Tax Code and Egypt

Posted by iusbvision on February 17, 2011

Posted in 2012, 2012 Primary, Chuck Norton, Energy & Taxes | Leave a Comment »

Bill O’Reilly: President Obama And Spending Our Money – 02/14/11

Posted by iusbvision on February 16, 2011

Posted in 2012, Chuck Norton, Click & Learn, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »

Powerful Democrats help Chinese energy firm get $450 million in stimulus money

Posted by iusbvision on February 15, 2011

The Democratic Party has been caught several times taking illegal campaign money from the Chinese ( 1, 2). It seems that money has not gone to waste.

Jackie Walorski warned of this happening. It seems that she was correct.

MSNBC:

WASHINGTON — Top Democratic fundraisers and lobbyists with links to the White House are behind a proposed wind farm in Texas that stands to get $450 million in stimulus money, even though a Chinese company would operate the farm and its turbines would be built in China.

The farm’s backers also have close ties with Senate Majority Leader Harry Reid, D-Nev., who, at the height of his hard-fought re-election bid this fall, helped blunt congressional criticism over stimulus dollars possibly going to create jobs in China by endorsing a proposal by the Chinese company to build a factory in his home state. Although his campaign received thousands of dollars in donations from the wind farm’s backers and Reid stood on stage with them at a campaign event they hosted, his office declined to answer any questions about the wind farm’s organizers or their plans for Nevada.

The wind farm, first announced more than a year ago, would consist of 300 2-megawatt wind turbines, each perched atop a 26-story-tall steel tower and spinning three blades — each half the length of a football field. The farm would span three counties and 36,000 acres in West Texas land best known for its oil. Dubbed the Spinning Star wind farm, the project’s 600-megawatt capacity is, theoretically, enough to power 180,000 American homes and would be the sixth-largest wind farm in the country.

It is being planned by an unusual joint partnership between the U.S. Renewable Energy Group, a Dallas investment firm with strong ties to Washington and the Democratic Party, and A-Power Energy Generation Systems, an upstart Chinese supplier of wind turbines. Filings with the Securities and Exchange Commission indicate the Chinese are bringing financing and the turbines.

What the Americans are supplying is the local know-how and political clout in Washington, where decisions on how to distribute billions in loan guarantees, stimulus grants and financial incentives are made.

The clock is ticking for Spinning Star: To claim the stimulus grant it must arrange its financing and begin work on the wind farm by Dec. 31. Besides the $450 million stimulus grant, A-Power’s SEC filings indicate the joint-venture also will pursue a Department of Energy-backed loan guarantee. According to the SEC filings, the project is waiting to hear if it will receive the loan guarantee before financing will follow to build the turbines.

Posted in 2012, Chuck Norton, Corporatism, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Obama Budget Cuts Proposal Visualization

Posted by iusbvision on February 8, 2011

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »

Obama Administration Held in Contempt for Violating Court Order

Posted by iusbvision on February 5, 2011

Bloomberg News:

The Obama Administration acted in contempt by continuing its deepwater-drilling moratorium after the policy was struck down, a New Orleans judge ruled.

Interior Department regulators acted with “determined disregard” by lifting and reinstituting a series of policy changes that restricted offshore drilling, following the worst offshore oil spill in U.S. history, U.S. District Judge, Martin Feldman of New Orleans ruled yesterday.

“Each step the government took following the court’s imposition of a preliminary injunction showcases its defiance,” Feldman said in the ruling.

“Such dismissive conduct, viewed in tandem with the re-imposition of a second blanket and substantively identical moratorium, and in light of the national importance of this case, provide this court with clear and convincing evidence of the government’s contempt,” Feldman said.

President Barack Obama’s administration first halted offshore exploration in waters deeper than 500 feet in May, after the explosion and sinking of the Deepwater Horizon drilling rig off the Louisiana coast led to a subsea blowout of a BP Plc well that spewed more than 4.1 million barrels of oil into the Gulf of Mexico.

Overly Broad

Feldman overturned the initial ban as overly broad on June 22, after the offshore-drilling industry and Gulf Coast political and business leaders challenged it. U.S. Interior Secretary Kenneth Salazar said later that day that he would “issue a new order in the coming days that eliminates any doubt that a moratorium is needed, appropriate, and within our authorities.”

In July, Salazar instituted a second drilling moratorium that was also challenged by an industry lawsuit claiming the ban was harming the Gulf Coast economy, which is heavily dependent on deepwater drilling activities. That ban was rescinded in October, before Feldman could rule on its validity.

Feldman later ruled that enhanced drilling safety rules Salazar imposed to permit companies to resume offshore exploration violated federal law, and he struck down those as well. Opponents of those rules complained to Feldman that regulators were continuing to block the resumption of drilling after Feldman’s rulings.

Wyn Hornbuckle, a Justice Department spokesman, said the government is reviewing yesterday’s ruling. He declined to comment further.

Informal Moratorium

The Offshore Marine Service Association, a group representing offshore service vessels and shipyards, urged the president to end what it called an informal moratorium on offshore drilling.

“President Obama claims to have lifted the Gulf moratorium, yet not a single deepwater permit has been issued in nine months,” Jim Adams, the association’s president, said in a release after the ruling. “As a result, thousands of workers are out of jobs, Americans are paying more for gasoline and heating oil, and our nation is becoming even more dependent on unstable nations for our energy needs.”

Feldman also ordered the government to pay the legal fees of Hornbeck Offshore Services LLC, which filed the initial lawsuit. The company had described the fees as “significant.”

Hornbeck “was put to considerable expense, after Judge Feldman issued the injunction, contending with the government’s litigation posturing and defiance of the court’s order,” Sam Giberga, the company’s general counsel, said today in an e-mail.

“The government was not at liberty to impose its own will after the court struck down the policy,” Giberga said. “The government, like any citizen, had to obey the ruling, even if it didn’t like it.”

The case is Hornbeck Offshore Services LLC v. Salazar, 2:10-cv-01663, U.S. District Court, Eastern District of Louisiana (New Orleans).

Posted in 2012, Chuck Norton, Energy & Taxes | Leave a Comment »

Allen West to Congress: Go Bold or Go Home!

Posted by iusbvision on January 28, 2011

West also gives the elite media a needed tongue lashing.

Posted in 2012, Chuck Norton, Energy & Taxes, Journalism Is Dead, Post 2010 | Leave a Comment »

Heritage: Anti-Drilling Policies Costing Federal Government Billions in Lost Revenue

Posted by iusbvision on January 27, 2011

Related:

Obama arbitrarily revoking coal mining permits, putting people out of work, raising energy costs.

Gas prices up 55% under Obama

Press Grilled Bush When Gas Hit $3.00 – Nada for Obama… UPDATED!

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

CPI: Big Polluters Freed from Environmental Oversight by Stimulus (government picking winners and losers)

Little Truth in President’s Oil Spill Comments

SCANDAL – Administration lies about conclusion by expert panel to ban off shore drilling. “We never said that” expert panelists say. Obama still refusing skimmer ships from foreign countries….

Another Lie: Obama now fully reversed on offshore drilling.

 

 

Heritage:

Billions of dollars in potential oil revenue that could help close the federal deficit is being lost as a result of President Obama’s anti-drilling agenda.

Production in the Gulf of Mexico — which normally accounts for about 30 percent of all U.S. production — is expected to drop this year by 220,000 barrels per day, according to projections from the U.S. Energy Information Administration.

With oil currently at $90 a barrel and the royalty rate at 18.75 percent, that equals $3.7 million in lost revenue each day.

If the agency projections hold over the course of the year, the federal government would lose more than $1.35 billion from Gulf royalty payments this year.

The number grows even larger when coupled with a lack of Gulf lease sales and fewer rental payments. Those three components — royalties, leases and rent — make up a sizeable amount of government revenue.

The looming shortfall is raising red flags on Capitol Hill. Sen. David Vitter, R-LA, an outspoken critic of the Obama administration’s drilling moratorium and the subsequent slowdown in permitting, first called attention to it in September.

“It’s not only about job loss along the Gulf Coast — the federal government is losing revenue as a result of the administration’s misguided moratorium,” Vitter explained.
“I’ve been attacking the moratorium from multiple angles and will continue to do so until drilling can fully resume.”

Interior Secretary Ken Salazar canceled a Gulf lease sale last October. He postponed another in the central Gulf of Mexico, originally scheduled for March, until 2012. One planned for October 2011 in the western Gulf also could be delayed until 2012. That would make 2011 the first year since 1965 that the federal government has failed to hold a lease sale in the Gulf.

Bonus bids from lease sales averaged about $1 billion in 2009 and 2010, according to data from the U.S. Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE).

The lack of lease sales ultimately means the government will collect less in rent payments by lease holders. Offshore rents currently generate more than $200 million per year.

The Gulf revenue decline comes as Obama’s oil spill commission is recommending new fees for oil companies – a scenario that could be avoided if the government removed barriers to exploration and production.

“Over the years, offshore production royalties have provided billions of dollars to the U.S. government,” saidNational Ocean Industries Association President Randall Luthi, former director of the Minerals Management Service, which predated BOEMRE. “Now, at a time when Congress is looking to maximize efficiency without raising taxes, there sits millions of dollars per day uncollected,” he said.

The Obama administration has dismissed the financial impact. The revenue loss would be “negligible,” Rebecca Blank, under secretary for economic affairs at the Department of Commerce, told a Senate committee in the fall.

“It is difficult to speculate now on the specific impact the moratorium would have over the five- or 10-year budget window, but one would expect the impact on the deficit to be negligible,” Blank wrote to the Senate Committee on Small Business and Entrepreneurship in September.

“Revenues may be higher or they may be lower depending on future years’ oil prices and the time profile of production,” Blank said.

Energy experts said the administration’s policies are certain to have long-term consequences for the industry.

“You continually need new discoveries and new production coming online to replace what’s being depleted,” said Andy Radford, senior policy adviser at the American Petroleum Institute. “These wells taper off over time — the ones that are producing now — so without a continual flow of new discoveries and new production, the number will continue to decrease.”

A report from the economic forecasting firm IHS Global Insight estimated that federal, state and local taxes related to the Gulf, combined with royalty payments, totaled $19 billion in 2009.

Royalties, bonus and rent payments made up more than $6 billion of that number. That pot of money could go a long way toward deficit reduction. And that’s from the Gulf alone.

Significant additional revenues would be generated if the federal government opened access to exploration and production in areas currently closed to development such as the eastern Gulf of Mexico, portions of the Rocky Mountains, ANWR, and the Atlantic and Pacific coasts.

recent study conducted by Wood Mackenzie for the American Petroleum Institute estimated that increased access to those areas would bring $150 billion into federal coffers by 2025.

Why leave so much money uncollected, especially in a time of rising deficits?

Originally published by the Washington Examiner.

 

Posted in 2012, Chuck Norton, Energy & Taxes, Obama and Congress Post Inaugration, Regulatory Abuse | Leave a Comment »

Malkin Blasts Corrupt Global Warming Czar

Posted by iusbvision on January 26, 2011

Michele Malkin:

The Obama Culture of Corruption won’t be the same without her. But the question is: While lying, eco-radical czar Carol Browner may be stepping down (Politico has the scoop), does it really mean she’s stepping out of the inner circle?

Word has it she may have lost out to health care czar Nancy DeParle for the coveted deputy chief of staff position (As I’ve previously reported, DeParle’s got her own set of baggage).

In any case, it’s a Pyrrhic victory unless the Republicans are able to hold her accountable for all her dirty green deeds.

My archives are stuffed with Browner’s power-grabbing, transparency-undermining, science-distorting antics that stretch across two Democratic administrations. She and her energy lobbyist husband Thomas Downey are immovable Beltway fixtures — and it looks like she has no plans to leave D.C.

More via NYT:

Carol Browner, who has served as President Obama’s top environmental adviser in the White House, will leave the administration soon, a senior White House official said Monday night. Carol Browner, White House director of energy and climate change policy, in December.Alex Wong/Getty Images Carol Browner, White House director of energy and climate change policy, in December.

Ms. Browner had been viewed as a close adviser to Mr. Obama in the White House. A veteran who was administrator of the Environmental Protection Agency under President Clinton, her name was floated as a possible candidate for a deputy chief of staff when Rahm Emanuel departed to run for mayor of Chicago.

But that talk faded after Mr. Emanuel’s job went to William Daley, another cabinet secretary under Mr. Clinton. And Ms. Browner’s chief portfolio — climate change — appears headed toward the back burner in the wake of the Republican gains last fall.

In a news conference just days after the November elections, Mr. Obama all but conceded defeat on his efforts — led by Ms. Browner — to get a comprehensive energy bill through the Congress.

 

Proving they live in Bizarro World, the Times performs this nifty bit of P.R. work on Browner’s behalf:

Ms. Browner was praised for her work during the oil spill in the Gulf of Mexico last summer, a performance that was said to have increased her stature in Mr. Obama’s White House.

 

WHO praised her — other than the NYTimes, I mean?

An increasing number of Democrats have raised their voices against Browner’s War on Carbon.

She infamously bullied auto execs to never put down anything in writing ever.

Obama’s own oil spill commission singled out Browner for misleading the public and “contributing to the perception that the government’s findings were more exact than they actually were.”

And her BP data doctoring was under fire by both Senate and House Republicans.

The GOP must not let her slip out the door quietly without answering for her abuse of power under oath and in the full light of public hearings.

I’ll withhold my usual “DLTDHYOTWO” until such time.

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

New Obama Adviser Jeff Immelt’s Agenda: “Big Government and Big Business”

Posted by iusbvision on January 25, 2011

This is neo-corporatist corruption in its Chicago style glory.

GE, which owned NBC and MSNBC, benefited with its relationship with the Democratic Leadership. GE has also had other ethical problems which are pointed out in the video. Of course noth NBC and MSNBC abandoned serious news reporting long ago and chose a path of highly biased and unfair reporting on one side, to nightly lies and character assassination on the other.

This leads us to another opportunity to remind you all of Norton’s First Law:

Big business loves big government, which is why big business loves domestic taxes and regulation because it keeps the small and medium sized competition out of the competition. It also causes inflation, so ultimately it is you who pays and the poor who are hardest hit. (Big business often gets loopholes written in the laws for themselves such as Nancy Pelosi trying to get a part of the tuna industry exempted from the minimum wage law).

Posted in 2012, Chuck Norton, Corporatism, Energy & Taxes, Government Gone Wild | Leave a Comment »

Republicans moving to prune ObamaCare and cut spending

Posted by iusbvision on January 25, 2011

Senator Borrassso explains several of the preposterous, and downright silly regulations in ObamaCare

Senator Rand Paul explains his plan to cut spending by an extra $500 billion. I know that some people have concerns about him, but so far it looks like he is trying to keep the promises he ran on. This bill is a good first step and Senator Paul is making that pretty clear. His plan for entitlement reform seems like a good first step as well.

Posted in 2012, Chuck Norton, Energy & Taxes | Leave a Comment »

Obama arbitrarily revoking coal mining permits, putting people out of work, raising energy costs.

Posted by iusbvision on January 19, 2011

Fox News:

A move by the Environmental Protection Agency to revoke the long-standing permits for a mammoth coal mine in West Virginia sends a strong signal that President Obama plans to implement key parts of his agenda even though newly empowered Republicans can block his plans in Congress.

In the aftermath of the November elections, many political pundits predicted that the once-unchecked Obama legislative machine would turn it’s energies to federal rulemaking as a way to circumvent Republicans on Capitol Hill. And the EPA’s decision last week suggests that those forecasts were spot-on.

Much to the consternation of the West Virginia delegation in Congress, the coal industry, and the working people of the Mountain State, the agency took the unprecedented step of revoking a mining permit that it had issued four years ago to Arch Coal’s Spruce No. 1 Mine in Logan County, West Virginia.

The revocation prompted unusually harsh responses from West Virginia’s two Democratic Senators.

Sen. Jay Rockefeller sent the president a letter which read, in part:

“I am writing to express my outrage with the Environmental Protection Agency’s (EPA) decision to veto a rigorously reviewed and lawfully issued permit at the Spruce Number 1 Mine in Logan County, West Virginia. This action not only affects this specific permit, but needlessly throws other permits into a sea of uncertainty at a time of great economic distress.”

[Wow, take a look in the mirror Sen. Rockefeller. Who are YOU to lecture anyone about creating uncertainty in business especially after the failed and corrupt stimulus, the regulatory and tax burden that is ObamaCare, AND who are you to complain about regulators just doing what they want in spite of law passed by Congress especially after you said THIS –  IUSB Vision Editor]

Sen. Joe Manchin issued a statement which appeared to mock the EPA’s permitting process.

“According to the EPA, it doesn’t matter if you did everything right, if you followed all of the rules,” Manchin wrote. “Why? They just change the rules.”

Posted in 2012, Chuck Norton, Corporatism, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Analysis: Herman Cain vs. Bill Clinton on HillaryCare

Posted by iusbvision on January 19, 2011

Notice how Clinton says that it will work because it means that everyone in the business will have to raise their prices the same so it all works out; no it doesn’t. Clinton is engaging in a false assumption that destroys smaller competition and benefits the biggest players in a market.

Cain is explaining that “big pizza” has a higher base percentage of profit, based on both volume and on economies of scale, that gives them lower costs and higher aggregate profitability compared to smaller competitors. While Godfathers has a profitability of 1.5%, “big pizza” has a profitability that is likely close to 6%.

So what does this mean? If Clinton gets his way “big pizza” will not raise their prices at all, on the contrary they will have a sale and keep that sale on till smaller outfits like GodFathers who are forced to raise prices and reduce service via layoffs can’t compete and shut down. At first the barely profitable stores close, then the better ones. The result is more and more markets where “big pizza” progresses its virtual monopoly in each market. With that competition taken out of the picture “big pizza” can charge whatever it likes and prices go up, and the pressure to keep quality up starts to evaporate.

This is why companies like Philip Morris lobbied Democrats to have tobacco taxes and regulations increased.

This brings us to Norton’s First Law:

Big business loves big government, which is why big business loves domestic taxes and regulation because it keeps the small and medium-sized competition out of the competition. It also causes inflation, so ultimately it is you who pays and the poor who are hardest hit. (Big business often gets loopholes written in the laws for themselves such as Nancy Pelosi trying to get a part of the tuna industry exempted from the minimum wage law).

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Health Law, Is the cost of government high enough yet? | Leave a Comment »

Baltimore Passes Soda Tax, Pepsi Closes Plant in Baltimore.

Posted by iusbvision on January 17, 2011

Baltimore Sun:

The Pepsi plant in Baltimore will no longer make soda, and the company plans to lay off 77 people as officials have decided to stop manufacturing operations — a decision they blame in part on a controversial new beverage tax in the city.

The last cans and 2-liter bottles of Pepsi-Cola, Diet Pepsi, Mountain Dew and other sodas ran through the production line Monday morning. Executives at Pepsi Beverages Co. told workers in meetings later in the day that production would be halted for good. Pepsi officials said they would work out details regarding the layoffs, including potential severance, with the local Teamsters union.

Kristine Hinck, a company spokeswoman, said, “Given the climate, making a beverage in a city where there is a beverage tax certainly doesn’t help.” – Ya think?

You would have thought that Maryland would have learned its lesson after the state lost massive revenue after it imposed its now infamous “millionaire’s tax”.

I am going to go buy a case of Diet Pepsi today.

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes | Leave a Comment »

Gas prices up 55% under Obama

Posted by iusbvision on January 12, 2011

Related

Obama says in video that $4.00 a gallon gas is fine as long as it is gradual

Press Grilled Bush When Gas Hit $3.00 – Nada for Obama… UPDATED!

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

My take, Democrats have been saying for 20 years that we should not go after our own oil and natural gas because it could take 5-10 years to get to use it. For not trying to implement the Cloward-Piven strategy, they sure are doing a great job of implementing it. Had enough yet?

Heritage Foundation:

Fact: President Barack Obama’s Energy Secretary Steven Chu wants to “figure out how to boost the price of gasoline to the levels in Europe.” At the time he made the statement, gas cost $7 – $8 a gallon in Europe.
Fact: Since taking office, President Obama’s entire energy agenda has made a gallon of gas more expensive:

All of these policies raise gas prices at the pump by either: 1) decreasing the availability of domestic energy supplies, or 2) increasing regulatory costs on gasoline production.

President George Bush was no saint when it came to free market energy policies either. He mandated the use of ethanol, put off opening up the Outer Continental Shelf till the end of his second term, supported the expansion of renewable energy tax credits, tried to subsidize the nuclear power industry, and caved into environmental pressure by allowing the EPA to begin the global warming regulation process.

But as two time Super Bowl winning coach Bill Parcells says, “You are what your record says you are.” And the facts are these: during the first two years under President Barack Obama, gas prices have risen 55%. You can compare that to the 5% drop in gas prices during the first two years of President Bush’s term or the 2% drop under the first two years of President Clinton’s term. Neither President Bush nor President Clinton had perfect energy policies. But neither of them appointed an Energy Secretary who wanted Americans to pay $9 for a gallon of gas either.

Posted in 2012, Chuck Norton, Energy & Taxes | 1 Comment »

Illinois Lawmakers Propose 75 Percent Income Tax Hike

Posted by iusbvision on January 12, 2011

They never learn.

Census data shows that people are leaving states ran by progressives that have high debt, high taxes and are not right to work states. Texas gained four House seats in Congress. States controlled by progressives lost seats.

CBS Local Chicago:

Gov. Pat Quinn and the leaders of both houses of the Illinois General Assembly have agreed on raising the state income tax.

If the bill passes, the plan would raise the personal income tax rate from the current 3 percent to 5.25 percent. That’s a 75 percent increase. In real dollars, that would mean if you currently owe $1,000 in taxes, next year you would owe $1,750.

The increase is for four years. After that, the personal income tax would go down to 3.75 percent.

The Democratic leaders in the Illinois General Assembly believe this income tax increase, a corporate tax hike, and a $1-per-pack tax increase on cigarettes would erase the state’s $15 billion budget deficit.

 

The Daily Caller reports that lawmakers just passed a 66% tax increase.

Posted in 2012, Chuck Norton, Energy & Taxes | Leave a Comment »

Presidential Candidate Donald Trump on Economics, China, Trade, Energy, Healthcare, and START.

Posted by iusbvision on January 11, 2011

While I do not agree with Trump on every issue, he does make some points which should be addressed in the upcoming election.

Free trade is OK as long as the enforcement is not one sided against us as it usually is, and if we don’t have a government that passes so many corrupt regulations that choke the economy and taxes businesses to the point where they flee. Trump is right that we cannot have endless consumption without production. Trump is right that ObamaCare is causing the price of health care to skyrocket.

Trump is right about START. Trump is also right that we should not be defending wealthy countries without them at least contributing to that defense.

With that said Trump’s weakness for pretty girls leaves him vulnerable to scandal, constant distraction and bad judgments. Trump’s apprentice show went from fascinating and a bit educational to downright silly near trailer-park drama. Trump does have a little bit of a personal restraint problem. As a result he appears very unpresidential.

Trump needs to understand what happens if you have a war and leave a power vacuum. Trump will get an education in the upcoming election and perhaps he will be a better man for it. I see his chances of victory rather slim, but adding him to the debate could have benefits.

Posted in 2012, Chuck Norton, Energy & Taxes | Leave a Comment »

Presidential Candidate Herman Cain: On economics, how to educate America on economics, how to turn the economy around

Posted by iusbvision on January 6, 2011

Herman Cain is well known in the private sector as a genius. He sat on a district board of the Federal Reserve, he was one of the great “fixing” CEO’s, meaning that he would come in, take charge of a company and make it successful and move on to the next one. He is an expert on leadership and tax policy as well.

Cain is an out of the box thinker, but throughout his life he has always gotten results.

 

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration | Leave a Comment »

Allen West: Liberal Progressive Agenda is Antithesis of Who We Are as a Republic

Posted by iusbvision on January 4, 2011

Now some of you will watch this and think he is being over the top. But is he?

Allen West he defines tyranny as the Founders did. Think about the situation, what would the Founders think of the following:

All three branches of government are now legislating on their own and against the will of the people. We have a breakdown of separation of powers. Federalism is all but eliminated. Government is infringing on private property rights more and more, government owns most of the land west of the Mississippi to prevent us from using our own resources, Congress banned the Thomas Edison light bulb, government uses the tax code and other regulations to pick winners and losers and funnel money to their allies, judges and other office holders do not respect the limits of their office or the Constitution. The government is becoming so big that it is becoming ungovernable.

Congress spent almost $4 trillion last year with $2.08 trillion of that being new deficit spending which is 10 times higher than the yearly deficit the last year the Republicans had budgetary control.

Does anyone doubt for a minute that George Washington, John Adams, Thomas Jefferson, Ben Franklin, James Madison, Jon Jay, Ben Rush, George Mason, Gouverneur Morris, Sam Adams, or Alexander Hamilton would say otherwise? Would Abe Lincoln, Frederick Douglass or Joseph Story?

Posted in 2012, Chuck Norton, Energy & Taxes, Government Gone Wild, Post 2010 | Leave a Comment »

Press Grilled Bush When Gas Hit $3.00 – Nada for Obama… UPDATED!

Posted by iusbvision on January 4, 2011

Paying attention journalism students?

Via the Media Research Center:

Gas prices are “soaring” again, crossing the $3-a-gallon threshold on Dec. 23 for the first time since Oct. 17, 2008. Back then the benchmark was a relief as prices plunged from the highest price ever of $4.11.

Pump prices have been climbing all month, yet network reports downplayed the pain and suffering of consumers. Jim Axelrod of CBS called it “bad news” after reporting some positive economic news on Dec. 28, but concluded “The economy’s not great, says economist Dan Greenhaus, but not terrible either.”

Compare that to past media exaggeration of gas prices. NBC’s Anne Thompson said that “no matter what kind of gas is sold, today it’s now unbelievably expensive” on Aug. 31, 2005. That day the national average for gasoline was $2.62 – but the gas price signs shown in Thompson’s report were much higher at $3.49.

That same night, ABC’s Charles Gibson claimed that gas was approaching $4-a-gallon.

Conversely, as prices fell throughout the summer of 2007, the network news media ignored gas price declines emphasizing “skyrocketing,” “soaring,” and “painfully high” prices over the drop.

What’s the difference between then and now? The president has changed from Bush to Obama, and with it the media’s attitude toward gas prices has shifted.

The Heritage Foundation noted on Dec. 29 that the press pestered Bush about gas costs and the political consequences of high pump prices, but have yet to ask Obama the question. CBS suggested on April 26, 2006, that President Bush needed to “do something” about gas prices.

A few months later, on Aug. 21, 2006, Bush was asked at a press conference: “What do you say to people who are losing patience with gas prices at $3 a gallon? And how much of a political price do you think you’re paying for that, right now?”

Heritage cited further examples of Democrats pressing the White House to “ease” prices (when prices were below $2-a-gallon), and Speaker Nancy Pelosi attacking the president for rising gas prices.

Under Obama, the networks haven’t breathlessly exaggerated gasoline prices as they did under Bush or demanded to know what the president will do to “ease” prices.

More Bad News:

Yet according to Heritage Obama’s policies will continue to make gasoline more expensive.

Heritage wrote: “Now this week, analysts including former president of Shell Oil, John Hofmeister, say Americans could be paying $5/gallon of gasoline by 2012. Investment banks are predicting a return to $100/barrel oil, andOPEC is refusing to raise production. All of this news would be less frightening if the White House were focusing on potential ways to lower energy prices. Instead, President Obama is admittedly fixated with raising them.”

How does Obama plan to raise prices? With further EPA regulations of power plants and oil refineries, and more rules for natural resources on government properties and the ‘de facto moratorium’ on oil drilling.

 

UPDATE

Posted in Alarmism, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Energy & Taxes, Journalism Is Dead | Leave a Comment »

WikiLeaks cables reveal how US manipulated climate accord

Posted by iusbvision on January 3, 2011

But wait, I thought global warming was about open dialogue, tolerance for scientific skepticism, and all those cosey academic principles that are taught in science classes? Save the world, kumbaya …or not. It seems that the government is using outrageous pressure tactics to gain consensus, just like far left climate scientists do.

 

Guardian UK:

Embassy dispatches show America used spying, threats and promises of aid to get support for Copenhagen accord

Hidden behind the save-the-world rhetoric of the global climate change negotiations lies the mucky realpolitik: money and threats buy political support; spying and cyberwarfare are used to seek out leverage.

The US diplomatic cables reveal how the US seeks dirt on nations opposed to its approach to tackling global warming; how financial and other aid is used by countries to gain political backing; how distrust, broken promises and creative accounting dog negotiations; and how the US mounted a secret global diplomatic offensive to overwhelm opposition to the controversial “Copenhagen accord“, the unofficial document that emerged from the ruins of the Copenhagen climate change summit in 2009.

Negotiating a climate treaty is a high-stakes game, not just because of the danger warming poses to civilisation but also because re-engineering the global economy to a low-carbon model will see the flow of billions of dollars redirected.

Seeking negotiating chips, the US state department sent a secret cable on 31 July 2009 seeking human intelligence from UN diplomats across a range of issues, including climate change. The request originated with the CIA. As well as countries’ negotiating positions for Copenhagen, diplomats were asked to provide evidence of UN environmental “treaty circumvention” and deals between nations.

But intelligence gathering was not just one way. On 19 June 2009, the state department sent a cable detailing a “spear phishing” attack on the office of the US climate change envoy, Todd Stern, while talks with China on emissions took place in Beijing. Five people received emails, personalised to look as though they came from the National Journal. An attached file contained malicious code that would give complete control of the recipient’s computer to a hacker. While the attack was unsuccessful, the department’s cyber threat analysis division noted: “It is probable intrusion attempts such as this will persist.”

• Read more about how the US cajolled other countries into supporting the Copenhagen Accord.

 

Posted in 2012, Alarmism, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Dirty Tricks, Energy & Taxes, Government Gone Wild, Obama and Congress Post Inaugration, True Talking Points | 1 Comment »

Ken Blackwell confirms IUSB Vision analysis of Obama’s plan to violate the Constitution and legislate by decree.

Posted by iusbvision on January 2, 2011

The Obama Administration has announced that it plans to enact Cap & Tax (energy taxes) and the so called “death panel” and other provisions into the health care law by abusing the power of regulation given to him. Congress denied him these laws, so he is going to do it anyways. Congress and the courts denied him the “Net Neutrality” regulations of the internet.

It is just as we told you HERE:

This is the problem that occurs when Congress grants federal bureaucracy such wide regulatory power to enact as they see fit. The bureaucrats get such wide power to enact law through regulation that they in effect become, as Justice Scalia once described as, “a junior varsity Congress” that can pass laws that are even against the will of Congress and the people. This action takes the entire purpose of Separation of Powers in the Constitution and tosses it right out the window. While Congress does have some minor delegable authority under the Necessary and Proper clause in no way did the Founders ever intend to have a situation where all three branches of government are legislating on their own and against the will of the people.

This action shows that the Obama administration and some of the Democratic leadership have nothing but utter contempt for the overwhelming expressed will of the American people.

Imagine what would happen in the elite if George Bush did something so extreme, or Sarah Palin?

Ken Bkackwell:

Posted in 2012, Alarmism, Chuck Norton, Energy & Taxes, Government Gone Wild, Is the cost of government high enough yet? | Leave a Comment »

Oh Canada! Neighbors to the North Slash Corporate Tax Rate to 16.5% – US is still 35%

Posted by iusbvision on December 31, 2010

Japan is in the process of lowering its corporate tax rate by 5% and just days ago they have proposed to lower it again to 25.5%.

This leaves the United States with the highest corporate tax rate in the world.

Of course the little truth about the corporate tax rate is this, corporations never pay this, you do in the form of higher prices. All expenses of goods and services are passed on to the consumer which is you. Corporate taxes are just a way for government to raise your taxes and hide it in the form of higher prices. Of course some companies cannot raise their prices and stay competitive so they leave the country and go to China, Canada, Ireland, Mexico or Brazil.

President Obama’s own deficit commission said that we need lower rates and a leaner tax code to bring business here and to help spur compliance. Indeed, they said that the tax rates should be made lower so the government could collect more revenue to lower the debt. John Kerry even advocated lowering the corporate tax rate when he ran for president. The high tax rate combined with a 16,000 page tax code allows for government to pick winners and losers which generates corruption and paybacks. This is a no brainer folks, it needs to get done.

Will the Democrats do the right thing and lower the rate to bring jobs here? Or will they insist that the best way to grow the middle class is by waging a war of taxes, regulation, and uncertainty on their employers? And by trashing the currency with policy and monetizing the debt (printing money out of thin air). [See Cloward-Piven Strategy LINK1 and LINK2 – Editor]

 

UPDATE – Steve Forbes on why business is not hiring:

Posted in 2012, Chuck Norton, Corporatism, Economics 101, Energy & Taxes | Leave a Comment »

Lame Duck Congress Abuse of Power. Passes More Laws than Any Congress Since ’60’s & Most of that During Lame Duck Session. UPDATED!

Posted by iusbvision on December 30, 2010

So what is the problem you ask?

Well first of all the 20th Amendment was enacted in part to prevent this exact type of abuse of power. It also shows how much respect the Democrats (and a few Republicans) have for the will of the people.  There was no way that the hyper flawed START Treaty would have been approved before the election or this mountain of legislation that was passed. The Democrats even attempted to pass a new 1.2 trillion dollar spending bill at the last minute. Thankfully it was pulled in the Senate.

“Christmas tree” bills filled with pork, goodies and favors, a return of the overwhelmingly unpopular Death Tax at 35%. The bill preserving the tax rates should have been passed long ago. A food regulation bill that is just a huge federal power grab to control the industry and pick winners and losers, gifts to the trial lawyers to gin up more lawsuits…. more rules, regulations and “easter eggs” we still haven’t seen yet will likely be popping up as they are discovered.

There is no doubt about it, this was the Democrats sticking their finger in your eye and yet another violation of the intent of the Constitution once again. These people do not respect the limits of the law, or any limits on their power. And this past election should just be the first step of what we, the American people, are going to do about it.

Of course the elite media raced to see who could parrot the Democratic leaderships talking points with the most flare. That little 20th Amendment thing and the spirit behind it, not worthy of a mention….. will of the people, forget it as the elite media holds you in almost as much contempt as Nancy Pelosi does.

 

UPDATE – Congresswomen Lynn Jenkins (R-KS) Will Move To Ban Lame Duck Sessions Of Congress as they violate spirit of the 20th Amendment.

Posted in 2012, Big Bizz Loves Big Govt, Chuck Norton, Corporatism, Energy & Taxes, Obama and Congress Post Inaugration, Post 2010 | Leave a Comment »

Heritage: 10 most popular economic charts of 2010

Posted by iusbvision on December 28, 2010

Heritage:

Top Ten Charts of 2010

Posted December 27th, 2010

As 2010 draws to a close, The Foundry will be posting a series of Top Ten lists highlighting some of The Heritage Foundation’s most influential work. The Top Ten Heritage Charts are below, sorted by pageviews with the 10th most popular chart on top, and the most popular chart at the bottom. Turns out the most popular chart of 2010 is the same as the 2009 (with updated info) most popular chart. If we left out your favorite, let us know in the comments.

10. Recent Spending Hikes Are Not Limited to Temporary Emergencies

9. Federal Revenues by Source

8. Federal Government Revenues Have More Than Tripled Since 1965

7. Entitlements Will Consume All Tax Revenues by 2052

6. Taxes per Household Have Risen Dramatically

5. Obama’s Budget Would Create Unprecedented Deficits

4. National Debt Set to Skyrocket

3. Federal Spending Is Growing Faster Than Federal Revenue

2. Federal Spending per Household Is Skyrocketing

1. The Top 10 Percent of Income Earners Paid 71 Percent of Federal Income Tax

Posted in 2012, Chuck Norton, Click & Learn, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Obama to Enact Cap & Trade Even Though Congress Told Him No

Posted by iusbvision on December 28, 2010

This isn’t the only thing he is doing on his own. He is also enacting several parts of the health care law through regulation that the Senate told him no on as well.

As Obama has said himself that Cap & Trade will “necessarily make the cost of electricity skyrocket”: 

This is the problem that occurs when Congress grants federal bureaucracy such wide regulatory power to enact as they see fit. The bureaucrats get such wide power to enact law through regulation that they in effect become, as Justice Scalia once described as, “a junior varsity Congress” that can pass laws that are even against the will of Congress and the people. This action takes the entire purpose of Separation of Powers in the Constitution and tosses it right out the window. While Congress does have some minor delegable authority under the Necessary and Proper clause in no way did the Founders ever intend to have a situation where all three branches of government are legislating on their own and against the will of the people.

This action shows that the Obama administration and some of the Democratic leadership have nothing but utter contempt for the overwhelming expressed will of the American people.

The Republicans in the House will have to defund the EPA or take some similar action to stop this, which means that there will be war between the new House Republicans, Obama and the Democrats.

The strategy for Obama and the Democrats will be to shut down the government unless the new Republicans in the House vote to fund ObamaCare, the reinserted “death panel” regulations and Cap & Trade. If the government gets shut down the elite media and the Democrats will blame Republicans for shutting down the government. If the new Republicans capitulate Democrats will call them a bunch of frauds come election time and say “see your Tea Party folks voted for all the same big government stuff the Democrats did”.

The Tea Party and the GOP need to get way ahead on this and prepare the American people for a fight.

Politico:

The Obama administration is expected to roll out a major greenhouse gas policy for power plants and refineries as soon as Wednesday, signaling it won’t back off its push to fight climate change in the face of mounting opposition on Capitol Hill.

The Environmental Protection Agency has agreed to a schedule for setting greenhouse gas emission limits, known as “performance standards,” for the nation’s two biggest carbon-emitting industries, POLITICO has learned.

Under the schedule agreed to by EPA, states and environmental groups, the agency will issue a draft greenhouse gas performance standard for power plants by July 2011 and a final rule by May 2012. The agreement – which comes after states and environmentalists challenged the George W. Bush administration’s failure to set the standards – requires EPA to issue a draft limit for refineries by Dec. 2011 and a final rule by Nov. 2012.

The White House Office of Management and Budget has signed off on the schedule, according to a litigant in the legal fight.

Posted in 2012, Chuck Norton, Dirty Tricks, Economics 101, Energy & Taxes, Obama and Congress Post Inaugration, Trashing the Constitution | Leave a Comment »

Former White House Advisor Van Jones: Left has to “pretend” there is a need for taxes and regulation to meet its economic goals.

Posted by iusbvision on December 21, 2010

Does it get more straight forward than this folks?

Did you  see the link behind him sustainability.asu.edu – go HERE to find out just what that means.

Van Jones was appointed to work in the White House. He is a self proclaimed revolutionary communist. The founder of STORM, a group which advocated revolutionary communism. Jones was “resigned” when Glenn Beck started reading what this man writes and playing his speeches on his show. White House communications director Anita Dunn was “resigned” after she told a group of people that the philosopher she turns to most is Mao. Mao is the greatest mass murderer in the last 100 years and was a founder of the Chinese Communist Party. We know what the economic goals of communists are. This also is another example which demonstrates that government does not regulate for our benefit. They regulate to pick winners and losers to empower and enrich themselves.

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Corporatism, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Democrats Drop 2000 Page 1.1 Trillion Spending Bill in Hopper at Last Minute – UPDATE – Democrats pull bill from floor after outrage

Posted by iusbvision on December 17, 2010

Senate Republican leader Mitch McConnell –

Cavuto – Here we go again ….

BY THE NUMBERS: DEMS’ LAST-MINUTE, $1.1 TRILLION SPENDING BILL CONTINUES WASHINGTON’S JOB-KILLING SPENDING BINGE
GOP URGES PRESIDENT OBAMA TO VETO RECKLESS SPENDING BILL, REAFFIRMS PLEDGE TO IMMEDIATELY CUT SPENDING IN JANUARY
December 15, 2010 | House Republican Leader John Boehner (R-OH) | Permalink
 

While millions of Americans are struggling to make ends meet this holiday season, Senate Democrats proved just how out-of-touch they are yesterday by unveiling a $1.1 trillion-dollar spending bill loaded with thousands of earmarks costing billions of taxpayer dollars.   Democrats are hoping to ram the bill through Congress this week, seeing it as “their last chance at delivering pork before serious fiscal belt tightening begins next year.”  This latest 1,924-page spending monstrosity is nothing less than an insult to the American people who have been pleading with Democrats inWashington to stop their job-killing out-of-control spending spree and focus on creating jobs.

With the unemployment rate near 10 percent and the national debt climbing by the day, it is clear that America’s economy cannot afford for Democrats’ reckless spending binge to continue.  Here is a by-the-numbers look at how Democrats’ latest spending spree will add to their already-extensive record of fiscal failure:

  • 6,600: Total number of earmarks in the Senate Democrats’ pork-laden omnibus spending bill. (The Hill, 12/14/10)
  • 1,924: Number of pages in the Senate Democrats’ pork-laden omnibus spending bill.  (The Washington Post, 12/15/10)
  • $575.13 Million: Amount of spending per page in the Senate Democrats’ pork-laden omnibus spending bill. (The Washington Times, 12/14/10)
  • $78 Billion: Amount of taxpayer money that would be saved if Congress would adopt the Republicans’ plan to cut spending back to pre-‘stimulus,’ pre-bailout levels as outlined in the Pledge to America. (Pledge to America, Accessed 12/15/10)
  • $1 Billion: Funding included in the omnibus bill for the implementation of Democrats’ job-killing health care law, including $176 million to implement Medicare Advantage cuts.  (The Hill, 12/14/10)
  • 20,785: Number of earmarks President Obama signed into law his first two years in office.  (Taxpayers for Common Sense, 2/17/10)
  • 84 Percent: Increase in non-defense discretionary government spending since President Obama took office. (House Budget Republicans, 6/4/10)
  • 0: Number of budgets passed by Democrats this year.

Posted in 2012, Chuck Norton, Energy & Taxes, Government Gone Wild, Obama and Congress Post Inaugration, Post 2010 | Leave a Comment »

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 »

Gov. Bobby Jindal talks oil and how Brown University administrators & faculty tried to undermine Christian Faith & Western Civilization.

Posted by iusbvision on November 25, 2010

Louisiana Governor Bobby Jindal talks the oil crisis and how the federal government is in the way with some of the most foolish regulations one can imagine. Wasn’t the Department of Homeland Security reorganization supposed to fix this problem? Looks like it didn’t work.

At 7:00 the governor talks about how subversive public education has become.

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Brit Hume: How Democrats Undermined Business Confidence. Federal Reserve Revises Economic Forcast Downward

Posted by iusbvision on November 24, 2010

Keep a massive tax increase looming on small business, raise capital gains and payroll taxes, put in massive new health care taxes, more regulations, talk about new energy taxes etc and surprise people aren’t hiring….

Hume says that this is the difference between looking at the economy from academia or in the White House, it is pretty removed from reality.

How are Uncertainties About Taxes Affecting Employers?

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet? | Leave a Comment »

Obama misleads my neighbors in Kokomo.

Posted by iusbvision on November 23, 2010

We are all glad that the plant in Kokomo was prevented from closing due to a large taxpayer bailout. The concerns with the bailout plan remains the same.  The bond holders were illegally hosed including Indiana retirement funds. That was real economic damage. The other problem with government rushing in to prevent loss to a highly inefficient corporation is that the reforms are done for political reasons and not economic ones. This can result in reforms that do not go far enough. The bailout was done in such a way where the union that had clearly over reached did not have to take its fair share of the shared sacrifice that the taxpayer and the rest of the private sector has taken. The result is that even after the reforms the labor costs are still excessively high when compared to foreign automakers that are making cars in Indiana, Kentucky and Tennessee.

I am by no means saying that people should not be paid well, but many of these union workers, much like many government union employees are paid beyond well, especially when it comes to Cadillac benefits that they contribute very little towards. The result is a company that may get along in the short term, but still faces a real disadvantage. These shortcomings are well known and have been covered by journalists, commentators, and blogs for a long time.

The problem I have with President Obama today is the dishonest narrative that he keeps repeating. If he gets his way it will cost Indiana even more jobs than the 40,000 plus that have left since the stimulus.

Fox News:

PERU, Ind. — President Obama used part of his appearance at a Chrysler factory on Tuesday to hammer home his argument that the country cannot afford to extend the Bush-era tax cuts for the wealthiest Americans — even though his speech was advertised by the White House as a celebration of the auto bailouts.

The tax cuts apparently are weighing heavily on Obama’s mind as he prepares for a meeting with GOP leaders at the White House on Nov. 30, the first one since his party was punished by voters in this month’s midterm elections.

Newly empowered Republicans, who captured the House and increased their presence in the Senate, are pushing to extend the Bush tax cuts to all Americans, saying that the economy is too fragile for a tax hike on anyone.

But Obama told the crowd at the Chrysler transmission plant that the country cannot afford the $700 billion cost for extending tax cuts to individuals making $200,000 and above or families making $250,000 and above.

“I don’t think that we can afford it right now, not when we are going to have to make some tough decisions to rein in our deficits,” he said.

 

This is coming from the man who signed budgets that increased yearly deficit spending over the Republicans by a factor of seven. Obama went on to say that we should not be giving tax cuts to millionaires and billionaires, but here is the problem. Even if the tax cuts all expire and we tax rates increase in January, the super rich will hardly be effected, but small businesses will get creamed and Obama knows it.

Why?

I – The super rich benefit from a 16,000 page tax code is not just filled with exceptions and shelters for those with influence, the code defines much of the super rich’s income as non taxable, or it is defined as income that is covered under a different rate than “taxable wages”. For Example: John Kerry made $5,072,000 in 2003 and his total combined federal tax burden was 12.34%. If all the Bush era tax cuts expired Kerry would have still only paid a fraction over 13%.

II – The truth is that there are not many people who make taxable wages over $200,000. The vast majority who pay that tax at what will be the 39.9% rate are small business “S-corporations”, not the John Kerrys of the world.  While these small businesses bring in that much money on paper, most of their income goes back into the business. These are not “millionaires and billionaires”, they are people who have a roofing business, or own a couple of pizza shops, or a small manufacturing company.  These are the businesses that do 75% of the hiring in this country.

III – Google is a multi-billion dollar company and they paid a federal tax of 2.4%. They gave $800,000 to Obama and the Democrat leadership and throw gala events for Obama, yet where is Obama’s class warfare rhetoric when Google skips out in many millions of taxes?  Obama has no problem attacking the Chamber of Commerce, who by the way represents most small business.

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

Video: Government Strangling Small Business With Red Tape

Posted in 2012, Chuck Norton, Corporatism, Economics 101, Energy & Taxes | Leave a Comment »

Video: Government Strangling Small Business With Red Tape

Posted by iusbvision on November 23, 2010

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Post 2010 | Leave a Comment »

People & Wealth Moving from High Tax States to Low Tax States

Posted by iusbvision on November 19, 2010

And it is changing the face of Congress via the Washington Examiner:

Migration from high-tax states to states with lower taxes and less government spending will dramatically alter the composition of future Congresses, according to a study by Americans for Tax Reform

Eight states are projected to gain at least one congressional seat under reapportionment following the 2010 Census: Texas (four seats), Florida (two seats), Arizona, Georgia, Nevada, South Carolina, Utah and Washington (one seat each). Their average top state personal income tax rate: 2.8 percent.

By contrast, New York and Ohio are likely to lose two seats each, while Illinois, Iowa, Louisiana, Massachusetts, Michigan, Missouri, New Jersey, and Pennsylvania will be down one apiece. The average top state personal income tax rate in these loser states: 6.05 percent.

The state and local tax burden is nearly a third lower in states with growing populations, ATR found. As a result, per capita government spending is also lower: $4,008 for states gaining congressional seats, $5,117 for states losing them.

And, as ATR notes, “in eight of ten losers, workers can be forced to join a union as a condition of employment. In 7 of the 8 gainers, workers are given a choice whether to join or contribute financially to a union.”

Imagine that: Americans are fleeing high tax, union-dominated states and settling in states with lower taxes, right-to-work laws and lower government spending.


 

Posted in Chuck Norton, Economics 101, Energy & Taxes | Leave a Comment »

UN IPCC Co-chair: climate policy is redistributing the world’s wealth

Posted by iusbvision on November 18, 2010

This is not the first time top UN officials have admitted this as they also have stated it in official UN documents…. and we covered it:

The Debate is Over. Global Warming Alarmism is About Achieving Central Control of the Economy and Now They Admit It Openly.

Al Gore: Climate change issue can lead to world government

 

Via American Thinker and NewsBusters:

One need read no further than the U.N. International Climate Accord [PDF] ultimately shot down at Copenhagen’s climate summit last year to understand the organization’s international wealth redistribution goals.  The failed treaty actually contained as many paragraphs outlining the payment of “climate debt” reparations by Western nations as it did emission reduction schemes.


Indeed, for nearly 50-years the U.N. has formulated its own unique brand of “social justice” under the guise of “saving the planet” by demonizing one byproduct of Western economic growth or another.  Carbon Dioxide is, of course, merely the devil’s derivative du jour.

Now, a high-ranking member of the U.N’s Intergovernmental Panel on Climate Change (IPCC) has admitted that climate policy has little to do with environmental protection.

On Sunday, Ottmar Edenhofer, a German economist and IPCC Co-chair of Working Group III on Mitigation of Climate Change, told the Neue Zürcher Zeitung (translated) that “climate policy is redistributing the world’s wealth” and that “it’s a big mistake to discuss climate policy separately from the major themes of globalization.”

 

Edenhofer went on to explain that in Cancun, the redistribution of not only wealth but also natural resources will be negotiated, adding that:

The climate summit in Cancun at the end of the month is not a climate conference, but one of the largest economic conferences since the Second World War.

And another shot at playing Robin Hood with Americans’ money.  As I addressed yesterday:

Now consider the U.N. plan to levy a climate reparations tax on the developed world (read that United States) on everything from airline flights and international shipping to fuel and financial transactions to the tune of $100 billion annually.  That scheme is backed by both Obama advisor Lawrence Summers and radical anti-American billionaire George Soros as a means to meet the annual figure “international leaders” agreed to in Copenhagen and will be a primary goal at Cancun in a few weeks.

Will Barack Obama and his fellow recently repudiated Democrats actually entertain incurring further international debt on the backs of strapped American taxpayers (whose belief in AGW is at an all-time low), given Edenhofer’s staggering affirmation?

 

Posted in 2012, Alarmism, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101, Energy & Taxes | Leave a Comment »