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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 ‘Is the cost of government high enough yet?’ Category

Gov. Christie: Newark Schools spend $25,000 per student per year and the schools are still failing. The teachers union blocks all reforms.

Posted by iusbvision on December 3, 2010

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Chuck Norton, Economics 101, Government Gone Wild, Is the cost of government high enough yet? | Leave a 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 »

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 »

Paycheck Fairness Bill: Not About Women. A Huge Power Grab for Government. UPDATED!

Posted by iusbvision on November 13, 2010

This Orwellian  bill is about finding out how much you make by another means and giving the government power to dictate how much a company pays and sets up the EEOC the ability to go after almost unlimited damages. The potential for political abuse is off the scale as the SEIU, trial lawyers etc. would pressure the government to use this against Wal-Mart as a weapon etc.

Hudson Institute Senior Fellow Diana Furchgott-Roth argues the paycheck fairness bill is unnecessary because there is already equal pay and there are already discrimination laws that cover this.

Related:

PROFILES IN HYPOCRISY: OBAMA SPEECHES SAY HE SUPPORTS EQUAL PAY FOR WOMEN AND McCAIN DOESN’T – BUT OBAMA PAYS WOMEN IN HIS CAMPAIGN LESS! McCAIN PAYS WOMEN MORE!

UPDATE:

Forbes

Daily Caller

Caroline May

 

UPDATE-II Human Events Connie Hair:

The Senate is set for a cloture vote today on the Paycheck Fairness Act, which requires that employers collect and provide to the government certain payroll data, classified by the sex, race, and national origin of employees.  The data would be used for assessment of “fairness” of employee wages based on race and gender.

As previously reported on HUMAN EVENTS, Senate Majority Leader Harry Reid (D–Nev.) filed cloture on the motion to proceed to three bills right before Congress recessed for the elections.  Included among those three bills is the Paycheck Fairness Act, which passed the Democrat-led House in January of 2009 and is part of a left-wing wish list being pushed in the lame-duck session.

A boon for trial lawyers, the Paycheck Fairness Act, if passed, would place costly, job-killing new burdens on employers, including the following:

• Requirements for employers to prove that pay differentials are not based on sex and are “consistent with business necessity.”

• Unlimited compensatory and punitive damages for violations of the Equal Employment Act to be levied against private-sector employers.

• Characterization of all employees as belonging to “the same establishment” if they are working in the same county or in similar political subdivisions of a state.

• Automatic inclusion of employees as members of a class-action lawsuit, unless they somehow become aware of the suit and specifically opt out of it.

• Creation of more conditions for lawsuits.

• Creation of a constitutionally-questionable grant program based solely on one’s being female.

Diana Furchtgott-Roth, a senior fellow and the director of the Center for Employment Policy at the Hudson Institute, told HUMAN EVENTS that the bill would vastly expand the role of government in employer compensation decisions.

“The bill would require the government to collect data from employers on the sex, race, and national origin of employees, significantly adding to red tape, paperwork, and hiring costs, and trapping firms in costly litigation,” Furchtgott-Roth said.

She provides analysis in a new report showing that discrepancies in wages are based on many different factors.

“Average wage gaps do not represent the compensation of women compared to men in specific jobs, because they average all full-time men and women in the population, rather than comparing men and women in the same jobs with the same experience. Data from the U.S. Department of Labor’s Bureau of Labor Statistics that women earned 80 cents for every dollar that men earned in 2008 and in 2009, using full-time median weekly earnings, ignore fundamental differences between jobs, experience, and hours worked,” the report states.

“If we compare wages of men and women who work 40 hours a week, without accounting for any differences in jobs, training, or time in the labor force, Labor Department data show the gender wage ratio increases to 86 percent.”

“When the wage gap is analyzed by individual occupations, jobs and employee characteristics, regional labor markets, job titles, job responsibility, and experience, then the wage gap shrinks even more. When these differences are considered, many studies show that men and women make about the same. For instance, a 2009 study by the economics consulting firm CONSAD Research Corporation, prepared for the Labor Department, shows that women make around 94% of what men make. The remaining six cents are due to unexplained variables, one of which might be discrimination,” the report finds.

“Dozens of studies on the gender wage gap that attempt to measure ‘discrimination’ have been published in academic journals in the past two decades. Unlike the Bureau of Labor Statistics, which uses simple mathematical tools to calculate the wage ratio, these studies use an econometric technique called regression analysis to measure contributing effects of all factors that could plausibly explain the wage gap.”

“At a time when the unemployment rate is above 9 percent and almost 15 million Americans are out of work, the Paycheck Fairness Act would impose substantial new burdens on employers that would encourage hiring overseas and discourage hiring in America,” Furchtgott-Roth warns.  “As the Washington Post concluded in a recent editorial, ‘Discrimination is abhorrent, but the Paycheck Fairness Act is not the right fix.’”

President Obama supports passage of the Act.  His Office of Budget and Management released a statement on Tuesday in full support of the legislation, hoping for change in what the Administration perceives as widespread conditions of gender and race biases in workplaces nationwide.

“The persistent gap between men’s and women’s wages demonstrates the need for legislative change.  This bill would address this gap by enhancing enforcement of equal pay laws. Specifically, it would prohibit retaliation against employees who ask about or discuss wage information, and it would provide more effective remedies for women subjected to discriminatory pay practices.  S. 3772 would strengthen the Equal Pay Act by closing judicially created loopholes in the law and bringing its class action rules into conformity with the Federal Rules of Civil Procedure.  S. 3772 also requires the Equal Employment Opportunity Commission to collect pay data to better enforce laws prohibiting pay discrimination,” the statement reads.

One senior GOP leadership aide told HUMAN EVENTS that Democrats are expected to fall just short of the necessary 60 votes required to move the legislation forward.

Stay tuned.

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

Planned Parenthood Got $349.6 Million in Tax Dollars, Performed 324,008 Abortions, Paid Its President $385,163

Posted by iusbvision on November 12, 2010

Your tax dollars at work….how revolting.

 

CNS News:

Planned Parenthood received $349.6 million in tax dollars in the fiscal year ending on June 30, 2008, and it paid its president, Cecile Richards, $385,163, plus another $11,876 in benefits and deferred compensation.

According to a “fact sheet” published by the organization, Planned Parenthood Affiliate Health Centers performed 324,008 abortions in 2008.

Planned Parenthood’s fiscal year that ended on June 30, 2008 is the latest year for which the organization has publicly released an annual report and published the annual sum of grants and contracts it received from the government.

The $385,163 in pay Planned Parenthood President Richards received in the organization’s fiscal year ending June 30, 2008 was recorded in the group’s publicly available Internal Revenue Service Form 990 filed for that year.

Richards also received $346,285 in total compensation from Planned Parenthood and $38,476 in total compensation from related groups in the organization’s fiscal year that ended on June 30, 2009, according to the organization’s Form 990 for that year.

Planned Parenthood did not respond to repeated inquiries from CNSNews.com about Cecile Richards’ compensation.

Posted in 2012, Chuck Norton, Culture War, Government Gone Wild, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Federal Workers’ Earnings Soaring!

Posted by iusbvision on November 12, 2010

Posted in 2012, Chuck Norton, Government Gone Wild, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

$535 million down the drain in California for “green jobs”

Posted by iusbvision on November 11, 2010

Its hard to compete when you face all of the costs associated with a government that costs $3 trillion a year… and a California government that is bloated and getting worse. California just elected a bunch of Democrats like Jerry Brown as Governor….. what a mess.

http://abclocal.go.com/kgo/video?id=7763976

You can follow the link above till we get the video working – Editor

 

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

Banner Page Post

Posted by iusbvision on November 4, 2010

** The Banner Page Post is stickied to the top of the page. Be sure to scroll down for the newest posts! **

Video: Economic Freedom Countries vs Social Justice Ones.


Moody’s to USA: Change Course on Deficit Spending By Mid-July or Else… – UPDATE AAA is history…

Obama Administration Lawyer to Federal Court: If a citizen does not want to buy the forced ObamaCare mandate, all they have to do is eliminate their income and go into poverty to not qualify…

See our Israel post HERE – UPDATED!

Obama on Shovel Ready Jobs 2 Years Later

BreakingOver Half of All ObamaCare Waivers given to Unions

Breaking –  Republicans Find Multi-Billion Dollar Slush Funds Hidden in ObamaCare Bill – UPDATE: PolitiFact, FactCheck, WashPo Fact Checker, Heritage All Confirm

Speaker Boehner on the discovery of multi-billion dollar slush funds hidden in ObamaCare:


Please examine our “Summer of Recovery” and “ObamaCare” roundup posts! Who is it that’s Extreme?

Video: Tea Party Philosophy vs Progressivism

Salon Publishes MULTIPLE Calls for Torture, Murder of Sarah Palin

***If you are looking for our Wisconsin/Indiana Roundup Posts the original is HERE and the new one beginning with the aftermath is HERE.

November 1, 2010 It has happened: ObamaCare results in local lay-offs

Economic News Roundup II – Obama Reverses on Outsourcing!


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

Dr. Drew Pinsky on ObamaCare: ‘You will see a massive flight of physicians from the field’

111 companies and organizations get ObamaCare waivers from White House

700,000 Seniors Forced out of Medicare Advantage Plans – Cavuto: Was this the plan all along?

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

222 companies and unions get ObamaCare waivers from White House

The ObamaCare Waiver List – LINK – Now list over 700 OVER 1040 and growing…

Gallup: New record Low People getting health care through employer – LINK

Video: Gov. Mitch Daniels with John Stossel on how ObamaCare impacts Indiana – LINK.

A comprehensive list of tax hikes in ObamaCare – LINK

Sebelius Cracks! Admits the Obamacare Books Were Cooked! Admits to Double Counting Half Trillion Dollars! – LINK.

Posted in Chuck Norton, Economics 101, Energy & Taxes, Health Law, Is the cost of government high enough yet?, Leftist Hate in Action, Obama and Congress Post Inaugration, Violence | Leave a Comment »

Small Business Owners Fed Up!

Posted by iusbvision on November 1, 2010

Each one of these guys employs about 300 people. While Democrats give waivers to big business for all sorts of regulations  and taxes, these guys get stuck.

If you are a regular reader of this site, you know that this is exactly what we have been saying for a long time.

This article is a part of our new series on how big business loves big government.

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

It has happened: ObamaCare results in local lay-offs

Posted by iusbvision on November 1, 2010

It is just as we stated, just as we predicted, just as we have explained for months; now it isn’t far away places. It’s here.

WNDU:

Memorial Hospital cites Obama Health Care Reform on hospital layoffs
South Bend, Ind.
With St. Joseph County’s unemployment rate still sitting above ten percent, things could be getting worse thanks to cuts at Memorial Hospital.

Reporter: Kevin Lewis

With St. Joseph County’s unemployment rate still sitting above ten percent, things could be getting worse thanks to cuts at Memorial Hospital. Those cuts began back in June and hospital leaders say there’s no end in sight.

While hospital leaders admit the economy sparked this problem, it says the Obama Health Care Reform Act gave the hospital a one-two punch. While more people may soon get more health coverage, Obama’s plan cuts reimbursement dollars for hospitals at a time administrators say they could use them most.

If you roll up a chair and type your way to Memorial Hospital’s web site, you can click your way through 45 active job openings. Pay the hospital a visit and you’ll see it’s still getting patients and paying for construction improvements. So why would it cut nearly fifty jobs in just five months?

“No more discriminating against children with pre-existing conditions. No more retroactively dropping someone’s policy when they get sick, those days are over,” President Obama said at a June press conference.

Hospital leaders say the days of high-priced insurance may be over, but add that the days of cuts are here. In a statement the hospital said:

“Health care reform in its current state has already started to cut reimbursement rates to hospitals across the region and the country and we expect that reality to get worse moving forward.”

It’s too late to apologize:

Posted in 2012, Chuck Norton, Economics 101, Health Law, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Employers in U.S. Start Bracing for Higher Tax Withholding

Posted by iusbvision on October 28, 2010

$250,000 a year huh ….  well even if you are in the bottom tax bracket your income tax rate will go from 10% to 15%. This is a part of the uncertainty we have all been talking about. By the way soon your payroll taxes will go up too. Many small to medium sized business that use the personal income rates rather than the corporate ones will have their rate go to 39.9%. But hey, Google only paid 2.4% tax this year.

Bloomberg News:

Employers in the U.S. are starting to warn their workers to prepare for slimmer paychecks if Congress fails to vote on an extension of Bush-era tax cuts.

“I’ve been doing payroll for probably close to 30 years now, and never have we seen something like this where it gets that down to the wire,” said Dennis Danilewicz, who manages payroll services for about 14,000 employees at New York University’s Langone Medical Center. “That’s what’s got a lot of people nervous. All we can do is start preparing communications with a couple of different scenarios.”

Lawmakers won’t start debating whether to extend the cuts, which expire Dec. 31, until after the Nov. 2 elections. Because it takes weeks to prepare withholding schedules, the Internal Revenue Service will probably have to assume the cuts will expire and direct employers to increase payroll deductions starting Jan. 1, experts say.

“We’re kind of stuck between a rock and a hard place,” said Ron Moser, head of human resources for the school district of Kenmore-Town of Tonawanda, New York, which pays about 1,900 teachers, custodians and aides each month. In upstate New York, where winter heating costs are among the highest in the country, many school employees earn between $20,000 and $40,000 a year, he said, and losing $50 in a paycheck is “a significant dollar amount.”

Posted in 2012, Campus Freedom, Indoctrination & Censorship, Economics 101, Energy & Taxes, Is the cost of government high enough yet? | Leave a Comment »

Progressivism Unrestrained: Detroit building “train to nowhere”

Posted by iusbvision on October 20, 2010

The latest on our series on Detroit where far left progressive Democrats can do pretty much anything they want.

Detroit is the poster child for the Reaganism “The more the planners plans fail the more the planners plan”

Thanks to Reason Magazine for the video.

Related Links:

Progressivism Unrestrained: 1 in 3 residences abandoned in Detroit.

Profiles in Unrestrained Progressivism: Detroit

Detroit Public Schools Graduation Rate 26%

Democrat Conyers Pleads Guilty to Feds for Taking Bribes.

Posted in 2012, Chuck Norton, Economics 101, Is the cost of government high enough yet? | 1 Comment »

“Summer of Recovery” Economic News Roundup! – UPDATED!

Posted by iusbvision on October 13, 2010

Stay tuned – more updates coming to this post soon!

The White House told us this would be the “Summer of Recovery” so how did it go? The elite media has been telling us that each and every month of woeful economic news has been “unexpected” or a “surprise” since shortly after Obama took power. Finally the canard is off and he elite media is running to catch up when the train has already left the station.   For previous posts check out our Econ 101 and Energy & Taxes categories!

IBD: U.S. Won’t Recover Lost Jobs Until March 2020 At Current Pace

The U.S. economy lost 95,000 jobs in September, far worse than expectations for no change in employment. More Census-related temp jobs ended, as expected, but state and local governments slashed staff far more than predicted.

So far in 2010, the U.S. has added just 613,000 jobs — for a monthly average of 68,111. [The U.S. needs to create 125,000-150,000 jobs each month just to absorb new workers and prevent unemployment from rising.]

Employment bottomed in December 2009 at 129.588 million — two years after peaking at 137.951 million. At this year’s pace, the U.S. won’t recoup all those 8.36 million lost jobs* until March 2020 — 147 months after the December 2007 high.

That would obliterate the old post-World War II record of 47 months set in the wake of the 2001 recession.

The current jobs slump also is the deepest of any in the post-war era, with payrolls down as much as 6.1%. They are still 5.6% below their December 2007 level.

With state and local governments likely to shed workers for at least the next year or two as budget woes continue, the hiring burden will fall entirely on the private sector.

Private employers did add 64,000 workers last month, but that was a little less than consensus forecasts and far below what’s needed.

The U.S. needs to create 125,000-150,000 jobs each month just to absorb new workers and prevent unemployment from rising. So returning to the old peak employment a decade later would hardly suggest a healthy labor market.

(Unemployment held at 9.6% last month as the separate household employment survey reported an increase in jobs. But the underemployment rate rose 0.4 point to 17.1%, matching the 2010 high.)

The bottom line: It’s quite possible that the next recession will hit before the U.S. returns to old employment highs [this means double dip recession very likely as we have predicted since march 2009.  – Editor].

AP: Unemployment has now topped 9.5 percent for 14 months in a row, the longest stretch since the Great Depression of the 1930s.

CNBC: Home foreclosure repo’s at record high – 95, 364 lost their homes in August alone

CNS News: Obama Added More to National Debt in First 19 Months Than All Presidents from Washington Through Reagan Combined, Says Gov’t Data

FactReal Report: Poverty Increasing under Obama and Democrat Congress

Reuters: Private employers unexpectedly cut 39,000 jobs in September [unexpected my ear, with Congress failing to act on keeping the current tax structure intact they have added to an already long list of new taxes coming soon]

UK Guardian: Indiana still awaits Obama’s promised green recovery.  More than a year after the president visited to announce a new era of green jobs, the grant he promised has not materialised and unemployment is high.

Montreal Gazette: Indiana’s ‘RV Capital of the World’ still awaits Obama’s promised recovery

CNBC: New Yorkers’ Income Falls for 1st Time in 70 Years

The recession put a 3.1 percent dent in the personal incomes of New York state residents, who endured their first full-year decline in more than 70 years, according to a report released Tuesday.

Paychecks or net earnings tumbled 5.4 percent, while dividends, interest and rent slid 8.4 percent, to a grand total of nearly $908 billion, the state comptroller’s report said. Not only did New Yorkers’ personal incomes fall “almost twice” as much as they did in the nation as a whole, but they have yet to recover to pre-recession levels, Comptroller Thomas DiNapoli said.

AP: Social Security Administration’s inspector general report – 89,000 stimulus payments went to people who were either dead or in prison

Patterico: $111 million in stimulus money to L.A. produces … 54 jobs

CNS News: Feds Spent $800,000 of Economic Stimulus on African Genital-Washing Program

CNS News: Obama Administration Gave General Electric—Parent Company of NBC–$24.9 Million in ‘Stimulus’ Grants – GE Laid Off 18,000 people and posted $156 BILLION profit

GE owns NBC and MSNBC – is it any wonder that they are completely in the tank for Obama and have the most left wing bias in the entire elite media?

NYT: Obama letting big corporations off the hook with ObamaCare waivers [Remember THIS Editor]

Video: Democrat Congressman calls deficit, debt a “myth”

Ed Morrissey comments:

The last we heard from Rep. Phil Hare (D-IL), he impressed voters nationwide by assuring us that he didn’t care about the Constitution when creating law in Congress. Now he wants to let us know that the national debt is nothing but a “myth.”  In what will almost certainly become a sound bite in House races across the nation, Hare not only disputes the existence of debt and deficits, he insists that Democrats have to keep spending money we don’t have … for the children…

Bloomberg: Food Stamp Recipients at Record 41.8 Million Americans in July

The number of Americans receiving food stamps rose to a record 41.8 million in July as the jobless rate hovered near a 27-year high, the government said.

Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 18 percent from a year earlier and increased 1.4 percent from June, the U.S. Department of Agriculture said today in a statement on its website. Participation has set records for 20 straight months.

An average of 43.3 million people, more than an eighth of the population, will get food stamps each month in the year that began Oct. 1, according to White House estimates.

WSJ: Middle Class Slams Brakes on Consumer Spending

AP: Consumer confidence drops to lowest since Feb.

Bloomberg: Goldman Sachs predict possible double dip recession

Goldman Sachs Group Inc. said the U.S. economy is likely to be “fairly bad” or “very bad” over the next six to nine months.

“We see two main scenarios,” analysts led by Jan Hatzius, the New York-based chief U.S. economist at the company, wrote in an e-mail to clients. “A fairly bad one in which the economy grows at a 1 1/2 percent to 2 percent rate through the middle of next year and the unemployment rate rises moderately to 10 percent, and a very bad one in which the economy returns to an outright recession.” [Remember the economy must grow at 1.5% just to break even on people entering the job market, anything less means unemployment and underemployment continue to rise – Editor]

BLS: Youth Unemployment at record high 19.1% since statistic has been measured since 1948.

S.F. Gate: California used a 340% over estimate of pollution levels to pass new restrictions on economy

Daily Caller: Democrat Senators threaten to raise energy costs in lame duck session

Gallup: Unemployment up sharply to 10.1% in September

Summer of Recovery? 

Big Government: Stupid federal regulators forcing New York to replace 250,600 street signs over use of capital letters…

News Australia: CBO says US hiding true amount of debt – The CBO estimates the debt will be at $US16.5 trillion in two years, or 100.6 per cent of GDP. [at near 100% of Debt/GDP historically that is when currency and credit collapses – Editor]

CNBC: Retailers post weak July sales

HotAir: Manufacturing tanks in August

Reuters: CEOs less willing to hire, sales a worry

CNBC: July Home Sales Hit 15 year Low – Yahoo Finance: Existing home sales drop 27% in July

Rosenberg: Economy in depression, not recession

Chairman of Joint Chiefs of Staff Admiral Mullen: The national debt is the single biggest threat to national security

AP: Recession pushed birth rate to new low

AP: Marriages at record low

US News & World Report: The Most Fiscally Irresponsible Government in U.S. History

Fox News: Homelessness Up 50% In New York City

WSJ: Stock Market Logs Worst August in 9 Years.

USA Today: 50 million Americans on welfare programs

LA Times: 41 Obama White House aides owe the IRS $831,000 in back taxes – 638 workers on Capitol Hill owe the IRS $9.3 million in back taxes…

LA Times: Jobs aren’t coming back. Unemployment likely to stay high.

Bloomberg: Dollar falling

AFP: Dollar at 15 year low against the Yen

Business Insider: 19 Facts About The Deindustrialization Of America That Will Make You Weep

WSJ: GM Resumes Political Giving. $90,500 most to Democrats [Hey folks the govt owns 61% of that company, so this is the govt paying to get itself re-elected – Editor]

Financial Times:  US Cities Face Half a Trillion Dollars of Pension Deficits

Heritage Foundation: ObamaCare increases insurance premiums

Washington Post: Business leaders say Obama’s economic policies stifle growth

Short video that explains the current budget deficits

Priceless – Democrat Blumenthal stumped on how to create a job –

October 15 UPDATE

AP: Applications for jobless benefits rise to 462K

Jobless claims have been stuck near 450,000 all year. Few employers see much reason to create many jobs, and some are still laying off workers. [This means we have been losing almost half a million jobs a month all year – Editor]

CNN Money: 85% of college grads move home –

Stubbornly high unemployment — nearly 15% for those ages 20-24 — has made finding a job nearly impossible. And without a job, there’s nowhere for these young adults to go but back to their old bedrooms, curfews and chore charts. Meet the boomerangers.

Heritage Foundation: Obama EPA Regs – The New Job Killer

Reuters: Economic Growth Expectations Adjusted Downward  –  Our friends at HotAir had some fun with this report from Reuters saying “Reuters economists expect even more of the ‘unexpected’ next year”.

Reuters: Banks foreclosed on 102,134 properties in September, the first single month above the century mark.

CNBC: Jobless Claims, Inflation, Trade Deficit Each Surge Higher

AP: Dollar tanks, stocks drop as Bernanke speech looms

Proactive Investors:  Weak Dollar Has Gold at Record High

CNBC: US Consumer Sentiment Dips

WSJ: Mortgage Damage Spreads

AP: Government reports $1.3 trillion budget deficit

 

Posted in 2012, Chuck Norton, Corporatism, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Most Important Video You May Ever See – Glenn Beck on Obama’s “Fundamental Transformation” of Government.

Posted by iusbvision on September 22, 2010

The first few minutes start off slow and then gets totally substantive. If you want to know what is going on this video is a must see.

Watch every minute of this video.

Posted in 2012, Chuck Norton, Culture War, Economics 101, Government Gone Wild, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

County cites farmer for too many vegetables

Posted by iusbvision on September 13, 2010

Yes this is what we elect our governments for…..

Atlanta Journal and Constitution:

DeKalb County has cited a man for growing too many vegetables on his own land, Channel 2 Action News reported.

Steve Miller of Clarkston said he plans to fight the county and has gotten his 2-acre property rezoned so that he can have his garden. But he still faces nearly $5,000 in fines, Miller told Channel 2.

Miller has been growing a variety of vegetables for 15 years, and his neighbors support him. He sells what he grows at local markets and gives some away, he said.

“It’s a way of life, like it’s something in my blood,” Miller told Channel 2.

The county says Miller grows more crops on his land than allowed under zoning regulations. Code enforcement officers began ticketing him in January for the zoning violation and for allegedly having unpermitted employees on the property.

The county declined to comment because the case is still pending.

 

Ok so zoning gets on this guys case. So he says ok and files and successfully has the property rezoned. So later that te county government goes after im or violations before te rezoning. The man cooperated obviously because when he was made aware of  the issue he filed for rezoning. The real issue at hand here is that local government wants $5000. Is this government behaving as if it is the servant of the people or the people’s master? If you want an example why wealth leaves areas with abusive government (which face it this usually means progressive leftist Democrats – like Michigan) here is a good example of why.

Channel 2 Atlanta:

DEKALB COUNTY, Ga. — DeKalb County is suing a local farmer for growing too many vegetables, but he said he will fight the charges in the ongoing battle neighbors call “Cabbagegate.”

Fig trees, broccoli and cabbages are among the many greens that line the soil on Steve Miller’s more than two acres in Clarkston, who said he has spent fifteen years growing crops to give away and sell at local farmers markets.

“It’s a way of life, like it’s something in my blood,” said Miller.

In January, Dekalb County code enforcement officers began ticketing him for growing too many crops for the zoning and having unpermitted employees on site.

Miller stopped growing vegetables this summer and the charges were put on hold as he got the property rezoned.

Two weeks after approval, however, his attorney said the county began prosecuting the old charges, saying he was technically in violation before the rezoning.

“It should go away. I think it borders on harassment,” said Miller’s attorney Doug Dillard.

Miller faces nearly $5,000 in fines, but he said he plans to fight those citations in recorders court later this month.

A county spokesperson said officials can’t discuss the matter while it is in court, but neighbors were quick to come to his defense.

“When he moved here and I found out what he was doing I said, ‘Steve, you’re the best thing that ever happened to Cimarron Drive. And I still say that,” said neighbor Britt Fayssoux.

Posted in 2012, Chuck Norton, Government Gone Wild, Is the cost of government high enough yet? | 1 Comment »

Dan Hannan: Our GDP is tanking and the EU isn’t working.

Posted by iusbvision on September 10, 2010

Europe has been a great example of how leviathan government can depress an economy. It is good to see that at least part of Europe has finally learned this lesson.

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

Upcoming New Alaska Senator Joe Miller: Obama is bad for America

Posted by iusbvision on September 2, 2010

Joe Miller defeated incumbant Senator Lisa Murkowski in the Alaska Primary. Murkowski was wrong on a host of issues and a part of a corrupt political dynasty in Alaska.

Watch Joe Miller in action:

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

Obama Administration Thinks Chicago’s Cameras Everywhere are Just Dandy

Posted by iusbvision on September 1, 2010

Where are all the “patriot act” privacy protestors now?

Chicago Sun-Times:

U.S. Homeland Security Secretary Janet Napolitano on Thursday ranked Chicago’s Big Brother network of well over 10,000 public and private surveillance cameras as one of the nation’s most extensive and integrated — and Mayor Daley wants to make it even bigger.

“Expansion of cameras citywide is one of the highest priorities that will help us here in the city of Chicago,” Daley said with Napolitano at his side.

“Cameras are the key. They are a deterrent. They solve crimes. It deals with terrorism. It deals with gangs, guns and drugs in our society.”

After touring the 911 emergency center that doubles as a clearinghouse for surveillance video, Napolitano pronounced Chicago’s “very robust camera infrastructure” among the “top two or three” in the nation. Asked to identify rivals, she named only New York City.

 

Yup they have made Chicago the safest place to be …….

Posted in Camera Fraud, Chuck Norton, Government Gone Wild, Is the cost of government high enough yet? | Leave a Comment »

Governor Christie shows us just what a mess the federal education bureaucracy has become

Posted by iusbvision on August 26, 2010

Ok seriously. How many federal employees does it take to request and deal with these reports that are over a foot thick and literally involve miles of paper? On the other side think of the amount of state employees that have to be hired to put it together… the expense must be staggering. And people wonder why public education is so expensive and doesn’t do a very good job.

How can people keep the elected officials and the bureaucrats accountable when average folks have no time to deal with reports that are a foot thick? ..exactly, they can’t keep them accountable; this effectively keeps your local education administrators working for the feds at the Department of Education. They are busy giving the DoE what it wants, not giving you what you want for your kids.

Government bureaucracies like this are so big and convoluted that they cannot be reformed. The whole machine needs to be tossed out and a lean and simple one needs to take its place. Either that or privatize because the folks are not getting their money’s worth.

Posted in Campus Freedom, Indoctrination & Censorship, Chuck Norton, Is the cost of government high enough yet? | Leave a Comment »

Steve Forbes: Day of Reckoning for National Debt

Posted by iusbvision on June 14, 2010

And whenthe  new taxes increases kick in the economy will suffer more.

Forbes says that the economy could start to recover in 2011 but only if we see the right actions in Washington. Translation: the economy will not be turning around in 2011.

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

Companies hoarding cash and not hiring because of regulatory uncertainty and lack of confidence.

Posted by iusbvision on June 13, 2010

Translation – they are paralyzed over what the Democrats are doing in Washington. Little things like that $2000 tax per employee might have something to do with it. This is what IUSB Vision Editor Chuck Norton has said for over a year.

FBN’s Charlie Gasparino and Liz MacDonald break down a recent study on companies hoarding $1.8 trillion in reserve funds.

More:
 
Neil Cavuto sounds off on why companies are growing their cash reserves and not hiring.

More:

Rep. Charles Djou, (R-Hawaii), on the governments decision to squander billions despite the growing national debt.

More: Now there are news reports saying that the debt may hit 100% of GDP by 2013. To those of you who know the history of economics knows what that would mean.

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

Fear of more government intervention in market sends stocks tumbling

Posted by iusbvision on May 21, 2010

It was government intervention in the mortgage industry and interest rates that by and large caused the mortgage crash. It was the governbment of Greece that had a welfare state with 1 worker in 3 working for the government that caused its collapse so what is the answer? More government of course!

Financial Times:

Markets take fright at political moves

By Brooke Masters and David Oakley in London and Aline van Duyn and Michael Mackenzie in New York

Fears of a disorderly regulatory crackdown on banks and financial markets triggered a crisis of confidence among investors on Thursday that sent share prices reeling in a global flight to safety.

US, European and Asian shares all tumbled in the wake of Germany’s partial ban on naked short selling and ahead of a crucial vote on the US financial regulation bill. The S&P 500 fell 3.9 per cent, bringing its losses since late April to 12 per cent and pushing it into “correction” territory.

Most Asian stocks, which this week slumped to their lowest levels in nearly nine months, continued to suffer on Friday. In Tokyo, the Nikkei 225 index dropped 2.45 per cent to 9,784.54, while Sydney’s S&P/ASX 200 index declined 0.26 per cent to 4,305.40. The Shanghai Composite, the worst-performing market in the region this year, rebounded 1.08 per cent to 2,583.52. The Hong Kong market was closed for a public holiday.

“The lack of clarity from the politicians has shattered confidence,” said David Owen, chief European financial economist at Jefferies.

Disappointing US jobless data revived fears that the economic recovery could prove short-lived, helping push Treasuries higher and German bond prices to a record. And in Greece there were protests over wage cuts.

Angela Merkel, Germany’s chancellor, fanned fears of further political intervention in the markets after Berlin’s unilateral ban on naked short selling – the practice of selling securities such as shares and bonds that are not owned or borrowed.

 

Gee there is that same issue with investor and risk taker confidence that we here at IUSB Vision have been talking about for a year. With such regulatory uncertainty who is going to be taking risks in such an environment?

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

National Federation of Independent Business president on organization’s decision to join 20 states in ObamaCare lawsuit

Posted by iusbvision on May 16, 2010

The NFIB is the largest organization that represents small business in America.

Posted in 2012, Chuck Norton, Economics 101, Health Law, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | Leave a Comment »

Obama Considers Job Killing VAT National Sales Tax

Posted by iusbvision on April 23, 2010

For those who are the working poor/students and retirees this  amounts to kissing almost 30% of your income goodbye in the form of lost buying power. In essence it will means that the dollars you have will buy you almost 1/3rd less.

Here is how a VAT works. We all know what t a state sales tax is. You see it on every receipt when you buy something. A VAT doesn’t work quite that way. It is a tax on an item at every stage of production.

A farmer grows the wheat 20% tax, sends it off to be ground into flour  20% tax, it gets turned into dough and baked 20% tax, it gets packaged 20% tax, it is sold to you at the store 20% tax.

That becomes one very expensive loaf of bread and none of the cost appears on your receipt, it just costs one hell of a lot more.

So how will businesses who produce good avoid the tax at each state of production for as many steps as it can? Easy, produce it in Mexico or China that way it is only taxed when it is sold to you. You wonder why socialist Europe has permanent 11% unemployment and 25% youth unemployment? This is a big part of the reason right here. Who would want to produce anything in such an environment.

These taxes lead to corruption as well. Industries will use their lobbyists and donations to get subsidies from the government at the threat of leaving. The subsidies will return much of the VAT a manufacturer pays to the government back to them and those smaller businesses without the political clout will not be able to compete.

This idea must be stopped as it is an economic declaration of war against those who work and those who produce.

Yahoo/AP News:

WASHINGTON – President Barack Obama suggested Wednesday that a new value-added tax on Americans is still on the table, seeming to show more openness to the idea than his aides have expressed in recent days.

Before deciding what revenue options are best for dealing with the deficit and the economy, Obama said in an interview with CNBC, “I want to get a better picture of what our options are.”

After Obama adviser Paul Volcker recently raised the prospect of a value-added tax, or VAT, the Senate voted 85-13 last week for a nonbinding “sense of the Senate” resolution that calls the such a tax “a massive tax increase that will cripple families on fixed income and only further push back America’s economic recovery.”

The sense of the Senate resolution means nothing.  If the Democratic leadership wants it, they will buy off with bribes to get the votes it needs and use reconciliation to avoid the filibuster. The Democrats know they are sunk in November and have to go for broke soon.  The only hopes Democrats have to win is to pass amnesty for all illegal aliens, give them access to all services such as medicare, protected/preferred status in EEOC hiring rules, social security, unemployment, food stamps etc in hopes that it will translate into 12-20 million new votes for them. Of course, such an effort to rig the election could have unforseen consequences.

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

BROKEN PROMISES: CBO AND CMS CONFIRM HIGHER COSTS AND HIGHER TAXES FOR OBAMACARE!

Posted by iusbvision on April 23, 2010

And after the New York Times and the Dept of HHS confirmed that we conservatives were right all along…

Via Paul Ryan:

WASHINGTON – House Budget Committee Ranking Republican Paul Ryan (WI) highlighted the latest evidence that the recently enacted health care overhaul exacerbates the problems in health care and violates the President’s central promises.

Yesterday, the Congressional Budget Office [CBO] released an analysis that estimates large tax increases will hit millions of Americans making well below $200,000. The CBO findings stand in stark contrast to President Obama’s promise not to tax any individual making less than $200,000 a year. According an analysis analysis by the House Ways and Means Committee Minority Staff, the President has already signed into law 14 separate violations of his tax pledge.

Adding insult to injury, the Centers for Medicare and Medicaid Services [CMS] issued another damaging blow to the President’s central case for health care reform: the need to get a grip on sky-rocketing costs. In a detailed analysis, the CMS Chief Actuary made clear that the new health care law will further drive costs upward, increasing national health expenditures by an additional $311 billion above projected costs. The new law would adversely impact Medicare providers and reduce Medicare Advantage enrollees by 50%, according the government report.

Following the release of the CMS and CBO reports, Ranking Member Ryan issued the following statement:

“As Washington is moving fast to takeover other sectors of our economy, we are learning more about the costly consequences of their most recent overreach on health care. President Obama reiterated a number of false promises throughout the partisan health care campaign, including a pledge that his overhaul would lower health care costs and would not increase taxes on individuals making less than $200,000 a year. This week’s double-whammy from CMS and CBO exposes the emptiness of the President’s rhetoric, confirming what Americans feared throughout the debate.”

“Rather than fix what’s broken in health care, this deeply flawed law will exacerbate the problems in health care. Two independent, nonpartisan analyses make clear that the onslaught of mandates, controls, taxes, and entitlement spending will impose a heavier burden on American families, including those already struggling to make ends meet. We must begin anew to mitigate the disaster from this health care debacle: let’s repeal this costly misstep and replace it with patient-centered, fiscally-responsible reform.”

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 »

AWESOME VIDEO: Gov. Rick Perry on The Principles of Governing Well

Posted by iusbvision on April 15, 2010

Texas leads the nation in job growth and economic performance. What does Gov. Rick Perry do to keep it that way and keep the government the people’s servants and not their masters.

Any political science student and anyone interested in good government should watch this video.

Posted in 2012, Chuck Norton, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Nearly Half of US Households Pay No Income Tax – Other Half Soaked

Posted by iusbvision on April 9, 2010

Wealth and jobs and investors and economic risk takers go where they are treated well. Want to know why the US is being industrialized and jobs are fleeing the country, this article explains a great deal of the problem.

AP/Yahoo News:

WASHINGTON (AP) — Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That’s according to projections by the Tax Policy Center, a Washington research organization.

Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it’s still almost always better to file: That’s the only way to get a refund of all the income taxes withheld by employers.

In recent years, credits for low- and middle-income families have grown so much that a family of four making as much as $50,000 will owe no federal income tax for 2009, as long as there are two children younger than 17, according to a separate analysis by the consulting firm Deloitte Tax.

The result is a tax system that exempts almost half the country from paying for programs that benefit everyone, including national defense, public safety, infrastructure and education. It is a system in which the top 10 percent of earners — households making an average of $366,400 in 2006 — paid about 73 percent of the income taxes collected by the federal government.

The bottom 40 percent, on average, make a profit from the federal income tax, meaning they get more money in tax credits than they would otherwise owe in taxes. For those people, the government sends them a payment.

“We have 50 percent of people who are getting something for nothing,” said Curtis Dubay, senior tax policy analyst at the Heritage Foundation.

The vast majority of people who escape federal income taxes still pay other taxes, including federal payroll taxes that fund Social Security and Medicare, and excise taxes on gasoline, aviation, alcohol and cigarettes. Many also pay state or local taxes on sales, income and property.

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 7 Comments »

Elite Media Disinformation Leads to Mass Chaos on ObamaCare

Posted by iusbvision on April 7, 2010

From our left of center friends at McClatchy News:

Two weeks after President Barack Obama signed the big health care overhaul into law, Americans are struggling to understand how — and when — the sweeping measure will affect them.

Questions reflecting confusion have flooded insurance companies, doctors’ offices, human resources departments and business groups.

“They’re saying, ‘Where do we get the free Obama care, and how do I sign up for that?’ ” said Carrie McLean, a licensed agent for eHealthInsurance.com. The California-based company sells coverage from 185 health insurance carriers in 50 states.

[You mean after a year of “explaining it” the American people still don’t know what is in it? Whew and I thought that Bush had a bad communications machine. Of course the point was to spread disinformation to confuse the people and keep them from understanding it, an effort that was partially successful.  – Editor]

McLean said the call center had been inundated by uninsured consumers who were hoping that the overhaul would translate into instant, affordable coverage. That widespread misconception may have originated in part from distorted rhetoric about the legislation bubbling up from the hyper-partisan debate about it in Washington and some media outlets, such as when opponents denounced it as socialism. [ This is pretty amusing, it wasnt the GOP or Fox telling people that OBamaCare would make coverage more affordable, because it wont, it wasn’t Fox and the GOP telling you that it will insure the uninsured people, because it doesn’t, it will help some people get insurance that will be very expensive, but that is down the road. You just have to ‘luv’ the elite media’s total lack of introspective. After showing us that ObamaCare is the answer for a year with a deluge of Democrat talking points, while telling us that the opponents who were revealing the details of it are liars, now they are back pedalling. – Editor]

More…:

Adults with pre-existing conditions are frustrated to learn that insurers won’t have to cover them until 2014 (though those under 18 will be protected in late September); then they become both hopeful and confused upon learning that a federal high-risk pool for them will be established in the next few months. “Health insurance is so confusing. You add this on top of it and it makes it even more confusing,” McLean said.
 
 
…and wayyy deeper in the article…:
 

Posted in Chuck Norton, Economics 101, Is the cost of government high enough yet?, Journalism Is Dead, Obama and Congress Post Inaugration | 1 Comment »

NY Post: Small Businesses Facing 25% Tax Hike

Posted by iusbvision on April 5, 2010

New York Post:

Jobbing small business

The 26 million small businesses in the US — like Eneslow Shoes, headed by CEO Robert Schwartz— are getting buried under an avalanche of new taxes, which include:

* An increase of 4.6% in federal taxes from 35% to 39.6% (expiration of Bush tax cuts)

* An increase in capital gains taxes from 15% to 20% (expiration of Bush tax cuts)

* A new tax of 3.85% on investment income, dividends, rents, royalties mandated in the new health care bill

* An increase in the Medicare payroll tax to 2.35% as mandated in the new health care bill

* In states like New Jersey and others, state and municipal taxes have been raised by the average of almost 2%

 

More:

America’s jobs growth engine is being choked to death.

A record 25 percent increase in the taxes against US small businesses — from costs associated with new health care law, to an increased Medicare tax, increased capital gains taxes and higher state and city taxes — is repealing any ability of these entrepreneurs to add jobs to their payroll.

And the numbers for New York’s small- to medium-sized business are just as harrowing.

By one estimate, the effective tax rate on the 26 million small businesses across the country — which in the past have accounted for more than half of the job growth in the US — has jumped to 50 percent from 40 percent, sucking valuable cash from the businesses.

These dollars could have been used to add to payrolls or make capital improvements — but instead will be siphoned off by Uncle Sam, state and municipal governments.

“The impact of these higher taxes and reduced hiring will be a recovery cycle that will be much longer, be slower to take hold and be without much job growth,” said Al Angrisani, founder and CEO of Angrisani Turnarounds and former US Assistant Secretary of Labor under President Reagan.

A survey of 200 small businesses across the US by the economist found 51.5 percent of business owners in March were concerned about the viability of their businesses — up from 49.5 percent in February. More than eight million jobs have been lost during the current 28-month recession.While a healthy 162,000 jobs were added in March, it was accomplished with the help of heavy government stimulus. Meanwhile, the average length of joblessness rose to 31 weeks and hourly earnings were down, albeit slightly.

In New York, interviews with more than a dozen small business owners by The Post found a group of owners hurting under the weight of the new taxes.

Teresa Kramer, co-owner of Northside Bakery in Greenpoint said she is scared.

“We’d really need to raise our prices by 20 percent to stay even because our profit margins are shrinking as costs keep rising everywhere — for garbage and services, commuter taxes and other taxes,” said Kramer, a Polish immigrant who operates the two-store division of Old Poland Foods. The business employs 20 and rings up annual sales of about $2 million.

Kramer has stopped short of raising prices, at least for now. She added: “We’re producing more bread and product — but we’re still making less and less profit.”

In Manhattan, Robert Schwartz, the CEO of a three-unit shoe store chain, said he has never seen the tax burden this bad.

“This has been as hard as we’ve been hit in my 36 years of running this company,” said Schwartz, owner of Eneslow Shoes, which employs 50 people, including part-timers, on annual revenues of under $10 million. “It’s a tough economy and our costs continue to rise.”

Schwartz, who says he’s putting his salary back into the business in response to the environment, adds that overhead from taxes and other outside charges have become unbearable. “I certainly don’t think the new health care law will save me any money,” he said. “Now New York City wants to develop this paid sick leave legislation that would give employees up to nine paid sick days. It’s ludicrous. It takes the oxygen out of the blood.”

Fran Biderman-Gross, CEO of Advantages, a branding, mass communications and marketing company in Fresh Meadows, said with health care becoming mandatory she envisions more companies switching to independent contractors — who don’t require pricey health benefits — in order to stay in business.

“We created 16 million jobs during the recovery in the Reagan administration by cutting taxes and offering incentives to hire,” Angrisani noted. “Small business tax cuts are not compatible with the philosophy of this administration.”

Posted in 2012, Campaign 2008, Chuck Norton, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Unemployment rate for young workers highest rate since 1948

Posted by iusbvision on April 5, 2010

Wall Street Journal – The unemployment rate for workers ages 16 to 29 was 15.2% in March, the highest rate since 1948, according to the Bureau of Labor Statistics.

 

Folks, since 1948, that is when soldiers starting coming home when their enlistments expired at the end of WWII and so many young people had not found jobs yet.

In this regulatory environment with the new taxes on business and the regulatory uncertainty, why would anyone start a business or invest risk capital here now ?

Posted in 2012, Chuck Norton, Economics 101, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

POLL: 79% Say U.S. Economy Could Collapse – UPDATED!

Posted by iusbvision on April 4, 2010

If the United States loses its AAA credit rating which is now quite likely according to Moody’s, the economic mess of the last year will look like the good old days.

Fox News:

Most American voters believe it’s possible the nation’s economy could collapse, and majorities don’t think elected officials in Washington have ideas for fixing it.

The latest Fox News poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats (72 percent), Republicans (84 percent) and independents (80 percent).

Just 18 percent think the economy is “so big and strong it could never collapse.”

Moreover, 78 percent of voters believe the federal government is “larger and more costly” than it has ever been before, and by nearly three-to-one more voters think the national debt (65 percent) is a greater potential threat to the country’s future than terrorism (23 percent).

This is how it will be as long as we decide to borrow and print money while we have tens of trillions of dollars in coal, minerals, natural gas and oil wealth that the feds keep buried in the ground. And as long as we continue with these anti-wealth policies.

UPDATE

Posted in 2012, Chuck Norton, Economics 101, Energy & Taxes, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

Feds Approving Bogus Products as ‘Energy-Star Compliant’, Investigation Finds

Posted by iusbvision on April 4, 2010

Fox News:

The federal government has been slapping “energy-efficient” ratings on products that don’t even exist — including a bogus space heater with a duster stuck to it and an alarm clock supposedly powered by gasoline. 

The federal government has been slapping “energy-efficient” ratings on products that don’t even exist — including a bogus space heater with a duster stuck to it and an alarm clock supposedly powered by gasoline. 

These fake products were submitted to the Environmental Protection Agency and the Department of Energy for approval as part of an undercover investigation by the Government Accountability Office. 

The office wanted to see how easily the feds could be duped, since the Energy Star program used to identify products as energy savers serves as a guide to businesses looking for such modern marvels and the basis for millions of dollars in incentivizing tax credits — including $300 million from the stimulus. 

The products fooled the federal government three out of four times. Of the 20 products submitted for approval, 15 were given the thumbs up. GAO reported that the federal government generally did not ask for critical evidence to back up its claims about how energy-efficient — or real — its bogus products were. 

“Certification controls were ineffective primarily because Energy Star does not verify energy-savings data reported by manufacturers,” the report said. Two of the fake firms even received requests from real firms to buy the products after they were listed. 

Among the products approved was a “room air cleaner.” The product image should have been a giveaway — it showed a space heater with a duster and several fly strips attached to it, looking more like a fire hazard than an energy saver. The EPA approved it in 11 days and listed it on the official Web site, according to GAO. 

The government also approved a “metal roof panel,” a “geothermal heat pump,” and a “gas-powered alarm clock.” The latter was described as a generator-sized clock run on gasoline.

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

More Businesses Reveal ObamaCare Impact

Posted by iusbvision on April 3, 2010

Via alineofsite.com:

At President Obama’s infamous Summit on February 25, Nancy Pelosi boldly stated that ObamaCare would create “400,000 jobs almost immediately”, 4 million over the life of the bill.  If so, it’s off to a rocky start. 

Prior to the passage of ObamaCare, many experts and organizations closer to the reality of the work place and the San Francisco Speaker of the House predicted serious negative economic consequences from the legislation.  The National Federation of Independent Business (NFIB) estimated 1.6 million in job loss from ObamaCare along with a $200 billion reduction in GDP.  The Heritage Foundation wasn’t as optimistic as they predicted 5.2 million jobs would be at risk of going away, and 10.2 million jobs would be at risk of slower wage growth and cuts in benefits.   

Below is a partial list of the immediate economic damage report in only the first week in the life of ObamaCare:

Zoll Medical Corp: This bill is a jobs killer,” said Ernie Whiton, chief financial officer of Chelmsford’s Zoll Medical Corp., which employs about 650 people in Massachusetts. Many of those employees work in Zoll’s local manufacturing facility making heart defibrillators.  “We could be forced to (move) manufacturing overseas if we can’t pass along these costs to our customers,” said Whiton. 

 “AT&T Inc. will take a $1 billion non-cash charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers… The telecommunications company also said it is looking into changing the health care benefits it offers because of the new law. Analysts say retirees could lose the prescription drug coverage provided by their former employers as a result of the overhaul.
Verizon: In an email titled “President Obama Signs Health Care Legislation” sent to all employees Tuesday night, the telecom giant warned that “we expect that Verizon’s costs will increase in the short term.” While executive vice president for human resources Marc Reed wrote that “it is difficult at this point to gauge the precise impact of this legislation,” and that ObamaCare does reflect some of the company’s policy priorities, the message to workers was clear: Expect changes for the worse to your health benefits as the direct result of this bill, and maybe as soon as this year.

 Valero Energy Corp, the largest independent U.S. refiner, said on Friday it expected to take a first-quarter charge of $15 million to $20 million due to the tax impact of a new healthcare law. “There will be further tax costs due to the legislation in the future, but we don’t have calculations on those yet,” Valero spokesman Bill Day said in a emailed statement. Valero shares were down about 1.3 percent at $19.62 in midday trading on Friday, bringing their loss this week to more than 3 percent.

 3M Company said today that it expects to record a one-time non-cash charge of $85 to $90 million after tax, or approximately 12 cents per share, in the first quarter of 2010, resulting from the recently enacted Patient Protection and Affordable Care Act, including modifications made in the Health Care and Education Reconciliation Act of 2010 passed by Congress on March 25, 2010. The charge is due to a reduction in the value of the company’s deferred tax asset as a result of a change to the tax treatment of Medicare Part D reimbursements.

 AK Steel Holding Corp., the third largest U.S. steelmaker by sales, said it will record a non-cash charge of about $31 million resulting from the health-care overhaul signed into law by President Barack Obama.

 Caterpillar Inc. said the health-care overhaul legislation being considered by the U.S. House of Representatives would increase the company’s health-care costs by more than $100 million in the first year alone. 

Deere & Company, Iowa’s largest manufacturing employer, said in a statement this morning that the recently-passed health care legislation will cost the company $150 million after tax this year.

 Medtronic: Medical device maker Medtronic warned that new taxes on its products could force it to lay off a thousand workers. 

 Retiree Benefits: As many as 1.5 million to 2 million retirees could lose the drug benefits provided by their former employer because of the tax changes, according to a study by the Moran Company, a health care consulting firm.

 Massachusetts: “A Dire Warning From Bay State Medical-Device Companies That A New Sales Tax In The Federal Health-Care Law Could Force Their Plants – And Thousands Of Jobs – Out Of The Country Has Rattled Gov. Deval Patrick, a staunch backer of the law and pal President Obama.” 

 Colorado:  Steamboat Ski Area officials said Tuesday that the federal health care overhaul could cost their business as much as $2 million a year beginning in 2014.

The health care overhaul includes a policy that would assess a fine, per employee, to large businesses that do not provide health care to full-time workers. The policy’s potential impact is ringing alarm bells with the Colorado ski industry, which has a large number of uninsured seasonal employees who work enough days to qualify as full-time workers. 

 New Hampshire: The state’s seasonal tourism industry is only now beginning to realize that it could get hammered by the new health care reform law. 

 Muncie, Indiana: Just to be clear, we’re not discussing the pros or cons of the health bill; it’s the Christmas tree ornaments that Congress hung off it to assure its passage.  The main one (at least that we know of so far; it takes time to wade through 2,409 pages of legislation) will expand the government’s Pell Grant programs at the expense of private student loan originators such as Sallie Mae.  The result: Under a worst-case scenario, Muncie might lose 700 jobs at its Sallie Mae call center on the city’s north side. A Star Press article on Tuesday said the company might have to cut its 8,600 total workforce by 2,500 workers and reduce its national locations from 25 to about six. It’s unknown how Muncie might fare if the company starts closing offices.

 Fishers, Indiana: Sallie Mae, a major student loan provider, has its largest office in Fishers, Ind…The effects of this portion of the health care bill have concerned several of the 35,000 people employed in the lending industry. Phillip Walsh, a senior director at Sallie Mae’s office in Fishers, said the company will lose approximately 2,500 of its 8,500 jobs.

 State Budget Impacts: Because of the new health care law, Arizona lawmakers must now find a way to maintain insurance coverage for 350,000 children and adults that they slashed just last week to help close a $2.6 billion budget deficit.  Louisiana officials say a reduction in federal money to hospitals that treat the uninsured under the bill could be a death knell for their state-run charity hospital system.  In California, policymakers estimate they will have to come up with an additional $500 million a year to make necessary increases in payments to Medicaid providers.  Across the country, state officials are wading through the minutiae of the health care overhaul to understand just how their governments will be affected. Even with much still to be digested, it is clear the law may be as much of a burden to some state budgets as it is a boon to uninsured consumers.

Posted in 2012, Chuck Norton, Economics 101, Health Law, Is the cost of government high enough yet?, Obama and Congress Post Inaugration | 1 Comment »

What Happened to the “Green Jobs” Economy? Solar Panel Plants Fleeing United States

Posted by iusbvision on April 2, 2010

While some panel production is staying in the US, most is fleeing, but with the new steep obamacare taxes and mandates and a new energy tax being proposed in Congress by Democrats, who knows if even that little bit will stay.

But good news, the worlds largest solar panel plant is being built… in DUBAI.

Washington Post:

BP closing Maryland solar manufacturing plant

Saturday, March 27, 2010

BP will close its solar-panel manufacturing plant in Frederick, the final step in moving its solar business out of the United States to facilities in China, India and other countries.

Just 3 1/2 years ago, in an announcement widely hailed by Maryland officials and promoters of “green jobs,” BP unveiled a $70 million plan to double output at the facility and erected a building to house the production lines.

But on Friday the company said it would lay off 320 workers and keep only a hundred people involved in research, sales and project development. BP said laid-off employees would receive full pay and benefits for three months, followed by severance packages and job-placement assistance. The company, unable to sell or lease the building, will tear it down.

NASDAQ:

GE To Close Its Solar-Panel Manufacturing Plant In Delaware

By Yuliya Chernova, Of DOW JONES CLEAN TECHNOLOGY INSIGHT

NEW YORK -(Dow Jones)- General Electric Co. (GE) plans to shut down its only solar-panel manufacturing facility, as it found that prices for panels fell below production costs, Clean Technology Insight has learned.

“On October 23 we announced the restructuring of our solar business to employees and our intent to close the Newark [Del.] facility,” said Milissa Rocker, spokeswoman for the company, in an interview.

BP Solar International Inc., part of BP PLC (BP), announced in April that it would close panel production in Frederick, Md., and in Madrid, eliminating 620 positions. It also is drawing more on outsourced manufacturing through Chinese suppliers.

Evergreen Solar Inc., meanwhile, said on Wednesday that it will move solar- panel assembly from its Devens, Mass., factory, to China next year. Energy Conversion Devices Inc., a maker thin-film solar panels, has also slowed production in Michigan even as it plans to start production in China.

Schott Solar Inc. shut down production at its 15-megawatt solar-panel production facility in Billerica, Mass., in July.

At least we still have that solar panel plant in Mississippi.

Posted in Chuck Norton, Economics 101, Is the cost of government high enough yet? | 1 Comment »