The “Rich” are So Undertaxed

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).

One comment, what do you think?

Posted under Economy

Written by admin on March 19, 2010

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Climate Bill Mistake Could Cost Dems

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?

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Posted under Climate, Economy

Written by admin on June 30, 2009

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Update: Henrietta Hughes

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.

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Posted under Economy

Written by admin on April 26, 2009

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Jim Cramer: “Greatest Wealth Destruction By a President”

In an interview with Matt Lauer on NBC, CNBC Analyst Jim Cramer (who, I should point out, is not a Conservative) regarded Obama’s policies as an advancement of a “radical agenda” and pointed out that this was the “greatest wealth destruction by a President” that he’s seen.  

Obama has shrugged off the steep decline in the stock market. He said, “What I am looking for is not the day-to-day gyrations of the stock market … but the long-term.” Apparently, he has missed the continued stock market slide (25% reduction since he was elected). He also stated, “The stock market is sort of like a tracking poll.” The Wall Street “poll” is speaking volumes on its opinion of the way the economy is heading. Given that the economy usually lags the market by 6 months, our economic future does look grim.

Perhaps we should move away from the agenda of restributing wealth, hiking taxes, and burying ourselves in even more debt. We need to do what is right for the economy. That includes business-friendly policies, lower taxes for all economic classes, and long-term job promotion. This new administration has had the opportunity to implement these types of policies, but instead has moved from one set of bad policies to another. In the end, it is the country that pays for this mistake.

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Posted under Economy

Written by admin on March 4, 2009

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Jindal’s Response to Obama

It seems clear that the Republicans are trying to position Jindal to be the new face for the party. Though many on the left regard him as an Uncle Tom, Jindal clearly has a Conservative philosophy. My issue with him is that he badly needs to work on his delivery. For one, I wish someone would tie Jindal’s hands. He talks with his hands so much that it is distracting! He also needs to learn the art of the “dramatic pause” and use more vocal inflection.

It seems recent Republicans are horrible at speech delivery, especially when you consider that Reagan was an expert. In this day of style over substance (*cough* Obama *cough*), this is going to be a big problem for Republicans. His writers could also provide overwhelming examples of where similar proposals to the ones he mentions have worked in the past. The opportunity is there to charismatically and powerfully deliver the message, we just need someone to do it! Jindal needs to move away from the dry and monotone delivery and writing.

Focusing on content (which given the delivery was difficult to do), I am glad that Jindal admitted that the Republican Party screwed up and moved away from Conservative principles. He has kept a consistent message, now it is up to the Republicans to act according to that message. Reagan Conservatism was both successful and popular, why the Republicans moved away from that philosophy is anyone’s guess. The 2006 and 2008 elections were hopefully a wake up call that Jindal is stepping forward to answer.

If Jindal wants to make a run for President in 2012 (and I hope he does), he MUST work on his speech abilities. A well-delivered speech drives home the points in a memorable way. Honestly, this speech was difficult to concentrate on, let alone remember.

Republican response embedded below:

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Posted under Economy

Written by admin on February 25, 2009

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