RWNJ » Economy

30% of Personal Income Comes from Government

admin — Mon, 04 Oct 2010 12:50:39 +0000

The Wall Street Journal reports good news as personal income rises .5% in August, the best improvement of the year. Well, not so fast… The Capital Hill blog is reporting that the reason is not private sector growth, but in fact 60% of the increase was due to government transfer programs. Yes, that’s just another term for wealth transfer.

It’s frightening that nearly one-third of personal income comes from the Government. Even worse is that more than half of that is through wealth transfer programs. The number has risen around 5% since Obama has taken office. He really does believe in “spreading the wealth around“!

10:10 Pulls Global Warming Assassination Ad

admin — Sat, 02 Oct 2010 15:02:33 +0000

Observe the latest in the scare tactics of the Global Warming followers. The 10:10 Global Organization was forced to pull this ad a mere hours after it first appeared:

A shame to hear that Gillian Anderson (of X-Files fame) provided the voiceover for this. Also participating in this display of hate speech was Richard Curtis (of Black Adder, Mr. Bean, Four Weddings and a Funeral, Bridget Jones’s Diary, and Notting Hill). Just remember, no pressure… we’ll just assassinate you if you don’t comply. James Lee would have been proud!

Thankfully, 10:10 has realized the ad missed the mark and put up an apology on their site.

The “Rich” are So Undertaxed

admin — Fri, 19 Mar 2010 23:28:37 +0000

Great commentary over at the Washington Times by Michael Whalen. He owns properties under Subchapter S, and thus falls into the “rich” category. Using 2008 numbers, he lists out a handful of the taxes he pays on a 100-room (limited service) hotel in Iowa. It is amazing how fast it adds up. Hard data makes it clear how ignorant a lot of the public is when it comes to taxation.

I’m still finding it amazing how many people don’t even realize how much they are taxed on a normal basis. Most people think of taxes and they think of the ones that are out in the open (income tax and sales tax). A lot of people I talk to in daily life don’t remember that they pay property taxes (it is hidden in escrow on their mortgage or imbedded in their rent payments). Many don’t even take the time to look at their paycheck and see the obscene amount of money put into Social Security and Medicare (let alone the fact most don’t realize that their employer matches). It is nearly impossible to explain to people how taxes “trickle down” from the top (through raised product and service prices)

Continue reading: The “Rich” are So Undertaxed

National Debt Road Trip

admin — Sat, 19 Sep 2009 01:21:10 +0000

Hat tip to PoliticalMath.wordpress.com

The Government Can

admin — Thu, 03 Sep 2009 21:26:18 +0000

Another thing that speaks for itself. Enjoy!

Deficit Danger

admin — Tue, 01 Sep 2009 00:07:40 +0000

I believe this speaks for itself.

Climate Bill Mistake Could Cost Dems

admin — Tue, 30 Jun 2009 13:19:06 +0000

As has hit the news, the Cap and Trade bill (also known as Waxman-Markey) passed the house 219-212. Several representatives changed their minds on the bill allowin the narrow passage. Some, such as Debbie Halverson (D-IL), were recorded saying they wouldn’t vote for the bill, but then proceeded to vote for it anyway.

It is simply amazing to see how many representatives actually voted for this bill (including 8 Republicans). We are seeing more people step forward to question global warming (including someone in the EPA who was apparently silenced by Obama’s agenda). Despite this, the house wants to push forward with a bill that will undoubtedly hurt the economy and burden families with imbedded “green taxes”. An MIT Study put the cost to each American family at $3900/year.

Not only is the link of carbon dioxide to global temperatures in question, our economy is struggling. We have unemployment rates approaching 10% and now we’re looking to pass a bill that will cost jobs and add burden to our families. This leaves an opening for the Republicans to step up and be a voice of reason. The question is, will they step up to the plate?

Update: Henrietta Hughes

admin — Sun, 26 Apr 2009 12:53:48 +0000

I’m sure you all remember Henrietta Hughes, the one who asked Obama for a place to live. Courtesy of WinkNews, here is an update.

Obama’s Budget Tightening Farce

admin — Mon, 20 Apr 2009 21:50:37 +0000

It’s official, Obama is asking his Cabinet to cut spending. Has he finally realized the importance of not putting the country into a tailspin of debt? Let’s evaluate…

Obama has asked for a reduction of $100 million. When we are talking about deficits in the Trillions, a few million is a simple drop in the bucket. AP puts this into perspective:

Less than one-quarter of the budget increase that Congress awarded to itself.

4 percent of the military aid the United States sends to Israel.

Less than half the cost of one F-22 fighter plane.

7 percent of the federal subsidy for the money-losing Amtrak passenger rail system.

1/10,000th of the government’s operating budgets for Cabinet agencies, excluding the Iraq and Afghan wars and the stimulus bill.

When you consider that the costs of borrowing the money for the latest “Stimulus” package is $100 million a day, does this effort amount to anything?

Cincinnati Tea Party Pictures – April 15, 2009

admin — Wed, 15 Apr 2009 21:48:08 +0000

As promised, here are a handful of photos from the Cincinnati Tea Party. I can tell you now that it was more than went to the March 15 event. I heard an estimate on WLW of 7,000. My ballpark guess would have pressed higher than that just. The square was jam packed and people were filling Vine Street as well, so it was clearly a large crowd. Though I did see some people dressed as if they were there from work, the majority of people seemed dressed to be there for the long haul.

I personally saw a handful of counter-protesters (probably 8 or 9 total). I heard (but did not see) what sounded like 20 or so at one point chanting “O-ba-ma”, but they were quickly drowned out by some chanting of “U. S. A.” One of the counter-protesters I saw was chanting “White Supremacy.” I guess she thought Robert Byrd was coming or something. One carried a sign that said “Republican’s Fore Sell Cry Babies.” At least he spelled cry babies correctly. Most of the others were content to chant “O-ba-ma.” I saw a couple get asked questions like “What has Obama done that you like?” and watched them only come up with answers similar to “You’re a racist.” For the most part the protesters ignored the counter-protesters.

After a few speakers, the group marched from Fountain Square to City Hall. I noted quite a few people looking out of office windows watching and a few even giving thumbs up to the crowd as they marched by. A petition to reject stimulus money was handed over when we arrived at City Hall. The crowd stayed around for a while, chanting (“USA”) and singing (“God Bless America”).

Below is a wide variety of the photos I took. I had a difficult time getting good crowd shots since the high places were either packed with people or blocked off. There’s a good mix of crowd shots, signs, and people. This includes the event, the march, and the arrival at City Hall.

More info on other teaparties across the country at Michelle Malkin.

Tea Party (Take 2) Tommorow

admin — Tue, 14 Apr 2009 14:12:25 +0000

Just a reminder that tommorow (April 15) is National Tea Party day. In Cincinnati it will be at Fountain Square starting at 11:30AM. We will be walking a signed petition urging rejection of stimulus funds to city hall.

Hope to see some of you there.

If you’re not from Cincinnati, check out the National Tea Party website to find an event near you.

I’ll be posting photos as quickly after the event as I can, so be sure to check back!

$3.6 Trillion Budget Approved

admin — Fri, 03 Apr 2009 12:15:19 +0000

Brietbart reports that the House and Senate have passed $3.6 Trillion budget bills. These bills will have to be reconsiled, but the two bills appear to be very similar. Next year alone, each of these bills will create $1.2 Trillion of debt.

Nancy Pelosi is quote as saying “we have come here to make a difference.” I suppose a record increase in debt could be considered a differece. Adding taxes on those who create jobs during a floundering economy is another difference. It seems that change for change’s sake trumps change for the betterment of the country with the current leadership. These budgets are a move towards more Government spending, more generational debt, and handcuffing job growth.

On a positive note, chairities can breathe a sigh of relief as the Senate denied the option of cutting tax breaks on donations to charity.

Job Losses Turning Ugly in Auto Industry

admin — Mon, 30 Mar 2009 20:11:53 +0000

Job workers brawled in western Michigan today as the auto industry continues in its death throws. Meanwhile, the Obama administration pushed plans to use bankruptcy filings for GM and Chrysler to free the companies of their retiree entitlements. The plan seems to be to see Chrysler sold to Fiat and GM re-formed under additional Government loans. Meanwhile the job losses continue to mount with no end in sight.

Update: Youtube link is dead, but there’s a video from the news station available here.

Republicans to Offer Budget Alternative

admin — Thu, 26 Mar 2009 19:14:21 +0000

The House Republicans gave an outline of proposals for an alternative budget plan today. Specifics on how much the budget would cost and what affect it would have on the deficit are due to be released next week. Among the proposals are spending cuts on everything except defense and lowering the top tax rate from 36% to 25%. A tax cut of that magnitude would free up money used by those in a position to hire workers and would likely be a huge shot in the arm to the economy.

Senate Republicans will be introducing a series of amendments to the budget next week in an attempt to cut spending from the budget. House Democrats are able to restrict the number of amendments that can be offered, so House Republicans are opting to present their complete budget alternative when it is finished.

The big question at this point is if the Democrats will be willing to listen to alternatives or if they will continue to press their agendas forward in a unilateral fashion.

A Perspective on Debt

admin — Tue, 24 Mar 2009 12:47:31 +0000

I came across this debt ticker over at Marvelous Medley:

Just look at that number… $11 Trillion dollars and growing fast! A trillion is a large number, and a bit hard to wrap my head around, so I looked around for some comparisons. I came across this over at tysknews:

Trillion = 1,000,000,000,000.
The country has not existed for a trillion seconds.
Western civilization has not been around a trillion seconds.
One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.

NPR gave this for comparison:

$1 Trillion would be enough money to buy about a 1,000 boxes of Girl Scout cookies for every person in the United States.

And here is a youtube video to give a bit more explaination:

It is hard to wrap one’s head around this number. Take the above, multiply it by 11. Now you have our current debt. Next year, we’ll be adding around $2 Trillion to that number. And we will continue to add Trillions to the debt every year until we get this out of control spending in check.

The United States GDP was just over $14 Trillion in 2008. Yes, our debt is nearly as much as our entire GDP! The interest payments on this debt is the third largest item on our budget at over $412 Billion. Now, throw in that the Federal Government alone is slated to spend over 27% of our GDP this year. Certainly someone other than me has to see the obsurdity in this.