Truth Before Dishonor

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Archive for the ‘economics’ Category

Senators Who Voted To Cut Military Veterans’ Pensions

Posted by John Hitchcock on 2014/09/07

From Facebook comes this gem. See how many squish Republicans are there. I saw a couple of very noteworthy Republicans in that list. And people wonder why the grass-roots are up in arms against Republicans, too.

The DEMOCRAT John McCain is on that list, as is the other Flake from Arizona and the sore loser from Alaska who needed K-Street to win as a write-in against the Republican in the race, as the Democrats jumped ship from their loser candidate to vote for her over the grass-roots Republican (who went on to snub the one person who had the king-maker mantel who could help him win). And of course, there’s Orrin Hatch, who got all wee-weed up that the grass-roots didn’t like him. Ever wonder why the grass-roots didn’t like you, lifer Orrin? (Even though I post your very worthy Hanukkah song every year.)

Posted in Character, Conservative, Constitution, Culture, economics, Elections, Law, Liberal, Personal Responsibility, Philosophy, politically correct, politics, society, war | Tagged: , , , , , , , | 1 Comment »

American “Poor” vs Filipino Working Class

Posted by John Hitchcock on 2014/09/05

In the Philippines, it is easy to find people making 8000 PHP (Philippine Pesos) per month. Very easy. At the current rate of roughly 43.60 PHP per USD, that comes out to about 183.50 dollars per month. Let me repeat that. It is easy to find a Pinoy or a Pinay (not derogatory at all) who makes less than 200 US Dollars per month. At 50 pesos per day, or roughly 1.20 dollars per day, a Pinoy phone can be unli. That’s unlimited. So, that’s 1500 pesos per month, or 18.75 percent of their monthly pay. More than 5 and a half days a month working, just for an entire month of unlimited cell phone service. So, they do not unli their phones every day. Only when necessary. Does anyone work more than 5.5 days a month just to pay for their cell phone in the US? No? Then sit down and shut up.

A brand new cell phone costs 2400 PHP, and it doesn’t even have a motion sensor to turn the image sideways when you turn your phone. That’s nearly 1/3 of a month of pay. Did you pay more than an entire week’s worth of wages for your even better phone? No? Then sit down and shut up.

Going to the cinema, it costs 150 PHP for a 2-D movie, or more than half a day’s pay (less than 4 bucks), based on working 30 days a month. Half a day’s pay. Does anyone working at McDonalds have to work an entire day in order to make enough money to buy two tickets to the movie theater? No? Then shut up about being poor. I mean, seriously.

I saw a report about a proposed new, lower graduated income tax law for the Philippines. If I remember correctly, 500k was where the absolute top rate kicked in. 500,000 Philippine Pesos. 11,468 US Dollars. For a top rate of close to 1/3 of your pay. Do you pay close to 1/3 of your pay in income taxes if you make 12,000 USD? No? Then sit the fornicate down and shut the sheol up.

America’s “poor” are not poor. I have no respect for and no empathy for fast food workers who think they can commit crimes in order to do anything their Socialist puppeteers want. Period.

Posted in ABJECT FAILURE, Character, Culture, economics, Personal Responsibility, politically correct, Politically Incorrect, politics, Real Life, Socialists, society, Travel, truth | Tagged: , , | Leave a Comment »

Immoral Businesses Shutting Down

Posted by John Hitchcock on 2014/09/01

FOX News is about to report on “three Atlantic City Casinos closing for good.” Good. Would that all casinos closed for good. On one side, you have immoral people preying on immoral lemmings. On the other side, you have immoral lemmings having less money than they used to. And the outcome is, they both lose. What’s not to like?

What do casinos produce? Nothing. They offer the most expensive places in the world to sit down. I suppose the entertainment value of pulling a lever and watching wheels spin can be attractive to some fools. But seriously, what uplifting value do casinos have? What societal benefit do they provide? They produce nothing. They add nothing to the growth of a community. They only take what that community provides. But the Obama Recovery (which would be a long-term recession or even depression in any other administration) means Society doesn’t have enough for the casinos to siphon.

So, the blood-suckers are dying off because there isn’t enough blood for them to suck. The tapeworms are dying because their hosts are emaciated. The Crimea River is in Atlantic City, NJ.

Posted in Culture, economics, Entertainment, Humor - For Some, media, Personal Responsibility, Philosophy, society | Tagged: , , , , | Leave a Comment »

All Multi-Nationals Should Invert Away From US

Posted by John Hitchcock on 2014/08/28

If you are a multi-national corporation headquartered in X country, you pay that country’s corporate tax for the business you do there and you pay the corporate tax in each other country for the business you do there with the exception of one industrialized country. If you are headquartered in the industrialized world’s highest corporate tax country, not only do you pay that country’s highest in the industrialized world for the business you do there but you also pay that country’s highest in the industrialized world for business you do anywhere else. You do get a tax credit for paying taxes elsewhere, but you also still pay taxes in that country for business you do in other countries.

Now, why would any fiscally responsible corporation spend more than double its by-nation required corporate taxes if it could just as easily cut it down to the actual rate of said country? If Canada has a 15 percent corporate tax rate (it does), then why would a corporation pay the offending country’s 35 percent corporate tax on business done in Canada, just because the business is headquartered in that offending country? It makes no fiscal sense whatsoever. Especially when it is possible to work the laws to divest yourself of insane tax requirements for doing business elsewhere in the world.

That’s exactly what Burger King (owned in a very large part by a Brazilian) did. (And I have a major issue with Burger King’s rainbow whoppers, but that’s beside the point here.)

Meanwhile, Forbes reported three days ago on the prospective merger and said:

Burger King’s majority owner, the Brazilian private-equity firm 3G Capital, would hold the majority of shares in the combined company, their statement said.

These Brazilians need to get patriotic and pay their absurdly high American tax rates.

See, Burger King’s majority owner, a Brazilian company, did what it took to get out of the outrageously high taxes the US put on it. That’s right. The United States has the industrialized world’s highest corporate tax, and is also the only nation in the industrialized world to force its outrageous taxes on business done in other countries.

Never mind Michelle Obama will never allow Burger King to sell its product in American schools, and would rather Burger King ceased to exist, the Loony Left are all up in arms about a business deciding it’s not a good idea to overpay their taxes.

Posted in economics, food, Law, Liberal, Over-regulation, Philosophy, politics, Socialists, Tax | Tagged: , , , | 2 Comments »

The Vast Majority Of America’s Poor … Aren’t

Posted by John Hitchcock on 2014/05/13

I want you to go to work 9 hours each day, 6 days each week, for 10 months. In this 10-month experience, you will pay no taxes, no rent, no utilities, no insurance; you will buy no food, no gasoline, no bus fare, no clothing, no toiletries, no nothing. You will instead save every penny you earned working those 43 54-hour weeks, at the end of which, you will take all the money -every last cent- to the electronics store and buy a middle of the road laptop computer with Linux installed (not Mac or Windows) and a decent printer. You will pay the cashier every penny you have, and leave none in reserve. After which, ladies, you will spend the next 9 9-hour workdays saving every last penny you earn so you can purchase a black one-piece swimsuit.

Because that’s what those three items cost a particular working woman in the Philippines. 9 hours a day for 198 Philippine Pesos. 22 PHP per hour. 50 US cents per hour. 54 hours a week. And she’s not running around looking for handouts. She’s looking to work to get ahead, by her own merits.

The vast majority of America’s “poor” just flat-out aren’t.

Posted in Character, Culture, economics, Personal Responsibility, Philosophy, Real Life, society, truth | Tagged: , , | 1 Comment »

Should I Move From California To Plano, Texas?

Posted by John Hitchcock on 2014/04/28

That is a question someone used in a web search to find an article I wrote some time back: Moving From California To Texas? The person doing the search is likely a Toyota employee. The First Street Journal covered this breaking news quite well, and included multiple links to multiple articles written concerning the ongoing fiscal insanity that is everpresent and effervescent in Leftist state governments, contrasting with the growth-minded nature of Texas.

 

Other material that can be found on Truth Before Dishonor include:

Dying California Cannibalizes Itself

Maryland Follows California And Illinois Down The Toilet

Flee California Now!

California’s Green Energy Mandate

California Introduces New Internet Sales Tax Law

California And The Great Egress

 

There is more information to be had on this subject matter on this site, if one looks through all the economics-related articles. But to answer the question the internet searcher asked:

If you’re a Leftist voter, loving yourself some Leftism, stay in that shithole state you helped create. Don’t move to Texas, because you’ll only work to turn a successful state into the shithole state you fled. If you’re a Conservative voter, by all means, move to Texas and flee that shithole state the Leftist parasites created.

 

70,000 a year income will let you live a better life than 100,000 a year in the People’s Republic of Kalifornia. Texas’ Castle Doctrine will keep you safer. Jobs are more plentiful. But be ready for culture shock. Texans don’t like Big Brother/Nanny State.

Posted in Conservative, Culture, economics, Liberal, Over-regulation, Personal Responsibility, Philosophy, politics, society, Tax | Tagged: , , | 1 Comment »

Cumulonimbus + AgI = ?? (revisited)

Posted by John Hitchcock on 2013/12/13

I’m reprinting an article I wrote 13 months ago. An article I wrote 13 months ago, I’m reprinting. An article that doesn’t even get into the most recent huge schadenfreudig spreading through the sane world. But an article I find especially prescient, given the Obama administration’s desperate efforts to prevent ObamaCare’s huge pains from actually hitting just yet…
___________________________________________

A dark cloud follows him wherever he goes.
Every cloud has a silver lining.

Farmers obviously need rain for their crops, so there are some who resort to cloud seeding, adding silver iodide to the clouds to try to force rain out of them. But it’s a bad idea to seed a thunderstorm cloud. Cumulonimbus clouds can produce nasty things like hail storms, massive lightning storms, micro-bursts, tornadoes.

And of course, there are those who always bring bad luck with them, like Bad Luck Schleprock, our current President.


 
So, today I am telling you about the seeding of a 3,000 mile wide thunderstorm cloud hanging over the US — and the silver lining that comes with it. It’s painfully schadenfreudig. Painfully schadenfreudig, indeed. (Multiple stacked redundancy intentional.) Barack Obama and the Democrats, very cynically aware that their grand scheme to shove the US headlong into Socialism could cause them to fall out of power, set up a series of Laws and programs that would save most of the very bad results until after the 2012 election. After having blamed Bush for all the Democrat-and-Socialist caused travails, they would have a way of avoiding responsibility for the looming mega-disaster. It works like this:

  • Set up a Socialist system with all the false positives front-loaded and all the negatives back-loaded.
  • Get possibly voted out of office before the negatives hit, so the Socialist-caused negatives would hit when Conservatives were in office.
  • Blame the Conservatives in office for the economic disaster the Socialists caused.
  • Get the Socialists re-elected to complete the evil transformation of the Free Market US into a Socialist state, with the Conservatives forever blemished by the results of Socialist actions.

But a strange thing happened along the way. The Socialists got re-elected by a completely ignorant, envious, slothful, free hand-out seeking crowd. And all the back-loaded disasters will hit while the Socialists are in power. (By the way, did you know that tornadoes are also backloaded? They are on the back end of cumulonimbus clouds, and not up front.)

ObamaCare is one such program. As most of it is set to kick in now that the election is over, total disaster is on the horizon. Businesses, who cannot pay the cost of ObamaCare and stay afloat at the same time, will be laying off massive numbers of workers nationwide. Other businesses will be cutting their low-level employees (the working poor) to under 30 hours a week so those businesses can stay in business. Very little expansion will be happening, if any at all. It’ll be full-on contraction.

A nice little poisonberry in ObamaCare — that “make health care cheaper for all” lie — is a 2.3 percent excise tax on all medical devices, such as crutches, wheelchairs, heart stents, etc, etc. And an excise tax is far worse than a profit tax or income tax. It hits the gross revenue and not the after-expenses cost. For example, suppose it costs a business 5,000 dollars for the raw materials to make a single product. Add in the labor costs, the health insurance costs, the retirement costs, the social security tax, the medicare tax, the property tax for the building itself, the electricity cost, the property insurance cost, the transportation cost, the bookkeeping cost, and all other costs associated with getting the already developed product to market and the final cost to the business is 6,800 dollars. The business sells the product for 7,000 dollars because that’s what the market will bear. The business gets a profit of 200 dollars per sale.

In comes the 2.3 percent excise tax. Another 161 dollars off the top. The new profit for the 7,000 dollar item falls from 200 dollars to a whopping 39 dollars (an effective tax rate of 80.5 percent of the profit). Not enough to make the company a going concern. Kill the Research and Development department of the company — the life-blood of all businesses that want to survive, for if a business is not growing and moving forward it is necessarily dying.

But it doesn’t stop there. No, not at all. That same company also has to pay the new, higher costs involved in providing ObamaCare to all its employees (instead of the less expensive insurance plans which were optional, which fair portions of employees did not opt into). That 39 dollars per product, which used to be 200 dollars per product goes negative. It costs more to produce than it can be sold for.

But, again, it doesn’t stop there. Obama’s declaration that electricity costs must necessarily skyrocket and he’ll bankrupt coal-fired electric plants necessarily means the energy-intensive manufacturing industry will get hit hard with skyrocketing overhead costs. Costs that cannot be reduced merely by laying people off. So instead, the companies will shutter its doors and either go off-shore or cease to exist, providing a double-whammy of forcing the products to become far more expensive than they are now and far more difficult to obtain.

Small businesses will collapse. The middle class will become working poor. The working poor will become the unemployable destitute. Products the middle class used to be able to afford will become luxury items. Items that were luxuries for the working poor will become nothing but unreachable pipe-dreams. Inflation will go into hyper-drive. Interest rates will climb, making the cost of borrowing prohibitive. And deficit spending, which has been kept artificially low (yeah, I said it), will explode.

How is 1.2 trillion dollars (or more) in deficit spending “artificially low”? That’s a good question. And I have a good answer for that. Two words: “debt” and “service”. Debt service.

Historical view of the Prime Rate from Forecast Chart.com (8 percent line added).

Above is a chart showing the historic levels for the Prime Rate, from Forecast Chart.com. I added a red line at 8 percent for reference. Below is a chart showing the historic levels for the Discount Rate, from a 2009 article on Apin Talisayon’s Weblog (data obtained from the Financial Forecast Center). I added a red line at 6 percent for reference.

US Discount Rate From 1950 as found on Apin Talisayon’s Weblog (6 percent red line added).

From Apin Talisayon:

As I said, central banks had recently been dropping interest rates, and so we cannot use the abnormally low prevailing interest rates (0.5%). I plotted the historical data of discount rates set by the US Federal Reserve since January 1950 from the Financial Forecast Center[.]

As you can see in the above two charts, the Prime Rate and the Discount Rate differ in levels, but mirror each other. And they’re not only at historic lows; they’re far below historic norms. That means the future necessarily will provide much higher rates on borrowing than today. And the Federal Government’s debt service costs absolutely must skyrocket. Couple that with the US credit rating crumbling — and will continue to crumble — and the interest on the debt will become astronomical. Even a fairly normal rate of 6 percent with our current 16,000,000,000,000 dollar deficit means 960 BILLION DOLLARS in interest payments alone. By 2015, our national debt will be 20 TRILLION DOLLARS and the interest on that debt will be 1.2 TRILLION DOLLARS. That’s before paying for roads, bridges, high speed trains to nowhere, free birth control pills for Sandra Fluck (phonetic spelling), free abortion pills for Sandra Fluck (phonetic spelling), free ObamaPhones, free health care, free foodstamps, free college tuition, free housing for the poor and forever pregnant single mothers, free Big Bird, free NPR propaganda, bailing out California, Illinois, Maryland, New York, free cowboy poetry, and oh yeah, paying for our national defense.

1.2 TRILLION DOLLARS SPENT TO PAY FOR ALREADY SPENT MONEY WE DIDN’T HAVE BEFORE PAYING FOR ANY CURRENT PROGRAMS AND EXPENSES!!!

The Socialist who ascended the throne in DC, along with the Socialists in the US Senate who have adamantly refused to produce a Federal Budget since April, 2009, in direct violation of Federal Law and the US Constitution, have successfully Cloward-Pivened the most prosperous nation in the history of the world. The most prosperous nation this world has ever seen has been successfully brought to financial ruin by the Leftists in power who have no use for a document that is “over 100 years old”. The aim? Destroy the Free Market and implement Socialism worldwide.

The silver lining? Conservatives have not been responsible for any of it. Conservatives have not been in charge for any of it. I know, little solace for the loss of a once great and mighty and FREE nation. Will there be anything left to save by 2016? And will there be any conceivable way to save it and return to prosperity from the Abyss of Destitution Obama and the Socialist Democrats have created? Or will it already be too late? I, for one, am not looking forward to the disaster these next 10 years will provide us. (UPDATE: Nice Deb performed her Karnac impression and answered my questions before seeing them. Go to her site to read her answers.)

RELATED
This medical device tax is just not going to end well
Economics 101: Schadenfreude!
Video: What free-market medicine looks like
2013: A Century Of Progress
Gee, why do you think the Obama administration waited until after November 6th to mail these letters?

Posted in ABJECT FAILURE, Character, Conservative, Culture, economics, Elections, Health, Health Care, Law, Liberal, Obama, Over-regulation, politics, Socialists, society, Tax, truth | 3 Comments »

The Rich Pay Their Fair Share

Posted by John Hitchcock on 2013/12/13

From CNBC (owned by that radical left wing NBC, which owns MSNBC) comes this nugget:

Buried inside a Congressional Budget Office report this week was this nugget: when it comes to individual income taxes, the top 40 percent of wage earners in America pay 106 percent of the taxes. The bottom 40 percent…pay negative 9 percent.

The bottom 20 percent actually pay a negative fifteen percent federal income tax rate! it’s time that the bottom 40 percent pay their fair share. It’s time the bottom 20 percent stop getting more back in income tax returns than they pay in. Because, as the lovely lady from CNBC said, “the rich aren’t only paying their fair share, they’re paying everyone’s share.”

Posted in Culture, economics, media, Personal Responsibility, society | 1 Comment »

This Christmas, Give the Gift of Shinola

Posted by DNW on 2013/11/22

 

Do you know the difference between … well, you know, and Shinola?

The difference is that Shinola, is made in America. Mostly. Or assembled here. Really, and it’s just too cool for school.

Except that it isn’t because it’s connected with school. A famous design school, The Center for Creative Studies, located in Detroit, Michigan.

Hand made bicycles, Swiss watch movements assembled in the USA and fitted with leather straps hand made in Florida; and footballs. Real honest to goodness footballs, made in America and made to be used.

Shinola Detroit

Shinola Detroit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Well maybe you would use it. On grass, once or twice.

Bronko, is that a Shinola?

Hey Bronko! Is that a Shinola?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Take a look for yourself ….

 

Shinola

 

Made in Detroit … more or less … by college kids and their associates, more or less.

 

This is another “neat things” posting, not commercial advertising; and neither Truth Before Dishonor nor myself receive any compensation whatsoever for these entries. Not even coal ranges. Certainly not Morgan Roadsters. The manufacturers neither solicited nor even approved these postings. Except here, where I got permission to mention, first.

Posted in American pride, Christmas, Culture, economics | Comments Off

#ObamaCare Deconstructed

Posted by John Hitchcock on 2013/11/17

HT Patterico’s Pontifications

The Truth the radical Left (Obama, Reid, Pelosi, Democrats, Mainstream Media) don’t want you to know.

Posted in ABJECT FAILURE, Character, economics, Elections, Health Care, Liberal, media, Obama, Over-regulation, politics, Socialists, Tax, truth | 3 Comments »

Will Obama Care “collapse of its own accord”?

Posted by DNW on 2013/09/27

 

 

A Question: Why is it expected by some that so-called Obama Care will collapse of its own accord, when its designers and promoters recognize no limits to their ability to coerce or draw upon you in order to fund and prop it up?

How exactly does that work?

Is there some length to which the progressives currently threatening social violence if their ill-begotten and legally bastard dream of punitive equity is not endowed, will henceforth refuse to go?

Is there some extractive limit beyond which, those who nonchalantly admit they recognize no limits, will not legislatively trespass if their spawn appears undernourished?

For those who think so, what real world evidence do they have to support this hope?

 

Posted in economics, Health Care, Law, Liberal, politics | 8 Comments »

In the matter of Obama Care

Posted by DNW on 2013/09/21

I’m working today and while doing so I’ve been accessing the Internet.

I don’t know why exactly, but possibly because after hearing about the House Republican’s courageous act of defunding Obama Care, I glanced at one of Perry Hood’s typically puling exercises in social justice pimping.

I then decided to revisit and review the fact situation premises underlying the arguments we’ve all seen concerning “national” health care costs by doing a couple of searches. Just for the sake of Auld Lang Syne …

My first search was on the topic of uncompensated emergency care. I Googled: “Percentage of US health care expenditures on uncompensated emergency room treatment”.

There, in the results window I found links that informed me that emergency room treatment accounted for only about 2 cents of every dollar expended on medical treatment in the United States.

“Main Points

Emergency care represents less than 2 percent of the nation’s $2.4 trillion in health care expenditures while covering 136 million people a year.i ii
Emergency departments are open 24 hours a day and provide “one-stop shopping” with all the hospital’s resources – such as diagnostic testing and consultation by other medical specialists – in one place.
The most pressing economic issue in emergency medicine is uncompensated care: the lack of adequate reimbursement for emergency medical care has led to the closure of hundreds of emergency departments.
The focus on preventing so-called “non-urgent” ER visits distracts policymakers from the real cost savings in reducing hospital admissions.
Emergency departments are critical to our communities and must be adequately funded.”

We also learn that,

“About half of all emergency services go uncompensated, according to Centers for Medicare & Medicaid Services (CMS).iv The typical ER treats 1 in 5 patients without insurance or a clear method for reimbursement. The CDC reported that 19 percent of all emergency patients in 2009 were uninsured.”

and

“Nearly half (44 percent) of emergency physicians responding to a poll say fear of lawsuits is the biggest challenge to cutting emergency department costs. More than half (53 percent) say this fear is the main reason for ordering the number of tests they do.viii Every additional diagnostic test adds to the overall cost of care.”

See also this American College of Emergency Physicians link

So, at first glance anyway, only about 20 percent of 2 percent of the money spent in the US on medical treatment is spent on the uninsureds’ emergency room treatment. Though, this burden is costly enough, and damaging enough, to the facilities treating these patients.

Next I began to check on structural issues related to demographics. Say for example, on the cost of behavioral problems to the US economy. But that was not really a fruitful avenue. We learn of course that fat kids are a large (pun intended) and growing (same) problem and that they will likely experience a host of chronic conditions which will eventually …

Oh. Yeah, “Chronic care”

Wonder what that costs “us” as a portion of what “we” spend?

Google: “Chronic condition expenses as a percentage of American medical costs”

And this my friends really set me back on my heels. I couldn’t believe it. Though I cannot now explain why I hadn’t known it earlier.

We debate insurance reform, and malpractice reform, and we talk of defensive medicine. But what are the real causes of this social phenomenon are we being held political hostage to? Is it really primarily due to greedy doctors and profiteering insurance companies,  inflated drug costs, scheming lawyers, and proliferating defensive medicine?

We speak in terms of “social costs”. What of social use? Is the demand itself unreal? What of actual use and spending, and of who is doing the using and spending?

Well, while,

” … Half of the population spends little or nothing on health care …”

it turns out that,

” … 5 percent of the population spends almost half of the total amount [spent]…”

What? How can this be? Feeling dizzy too? But why should we stop there when there is so much more to learn …

” … In 2002, the 5 percent of the U.S.community (civilian noninstitutionalized) population that spent the most on health care accounted for 49 percent of overall U.S. health care spending …”

” … the 50 percent of the population with the lowest expenses accounted for only 3 percent of overall U.S. medical spending, with annual medical spending below $664 per person. … those in the top 5 percent spent, on average, more than 17 times as much per personas those in the bottom 50 percent of spenders

” … The elderly (age 65 and over) made up around 13 percent of the U.S. population in 2002, but they consumed 36 percent of total U.S. personal health care expenses. The average health care expense in 2002 was $11,089 per year for elderly people but only $3,352 per year for working-age people (ages 19-64 …”

” … people in the highest 5 percent of the distribution of medical expenses were 11 times as likely to be in fair or poor physical health as people in the bottom half of that distribution (45 percent vs. 4 percent) …”

” … 21 percent of people in the top 5 percent [those with the highest medical expenses] were in fair or poor mental health, compared with 3 percent of people in the bottom 50 percent [of medical expenses]“

Chronic, crazy, (and a modest percentage of the) elderly account for half of that infamous 16 percent or so of the GDP being spent on health care. This then is half of the “crisis” that has been driving a formerly free people into the clutches of an Obama Care mandate, and toward the degraded status of “Property of the State”.

I’m going to quit writing now; before I say something really, really cruel …

You can read and judge for yourself. As for me, I am done researching for today.

Oh you can bet your bottom dollar on this though. Once the government really gets its say, and those figures are considered, as they already have been by many in the Single Payer system movement, there will be death panels.

And what will the left do? That is to say the same left that earlier mocked Palin?

They will shrug and ask, “What did you fools expect?”

Fools! I am the Lido and you will do as I command!

Fools! I am the Lido and you will do as I command!

Posted in ABJECT FAILURE, Constitution Shredded, economics, Health Care, Personal Responsibility | 1 Comment »

Gun Show Bans Guns, Kills Show

Posted by John Hitchcock on 2013/01/24

Yorkshire posted an article on The First Street Journal that discussed Reed Exhibitions’ sudden and unilateral decision to side with the anti-constitutional, Second Amendment killing gun grabbers and the aftermath of that decision. One sixth of the exhibitors and celebrities pulled out of the nation’s largest outdoor sportsman’s show in a show of solidarity with the US Constitution. You can find a large (but incomplete) list of the boycotters here. That list includes Cabelas, one of the nation’s premiere big box stores dedicated to the outdoor sportsman, muzzle loaders, knife businesses, bow organizations and businesses, turkey call companies, fishing related companies and organizations, conservationists, television shows and celebrities, and much, much more.

Reed Exhibitions tried to shrug it all off as “a small percentage of more than 1,000 exhibits” as if Cabelas was equivalent to Kokosing Backwater Beaver Traps, but decided to “stop loss” (an investment term for the first rule of holes) and cancel the show. Granted, they called it “postpone” but if Reed Exhibitions continues to side with the anti-constitutionalist gun grabbers, there will be no show. Period. Because the celebrities and exhibitors necessary for such a show will not participate and the people who go to such a show will not attend. As it is, Reed Exhibitions severely and possibly permanently harmed its reputation with the very people it depends upon for millions of dollars of profit a year.

Hey, Reed Exhibitions, spoiler alert: I watched Red Dawn and your side loses.

Constitution lovers, check out the list of boycotters and support them with your outdoor recreation dollars. You don’t have to be a hunter or even a gun owner. If you’re into boating, fishing, camping, hiking, mountain climbing, conservation or any other outdoor recreation, you can find your equipment and educational needs among that list.

Posted in Constitution, Culture, economics, politically correct, Politically Incorrect, politics, Real Life, society | Tagged: , , , , , , , | 2 Comments »

Taxes and the Pyrite State

Posted by Dana Pico on 2013/01/13

From

Jerry Brown: California Will Have Surpluses

That’s what he says:

After years of red ink, Gov. Jerry Brown said on Thursday that California’s $96.7-billion general fund is now poised to end next year with a surplus, thanks to years of deep budget cuts and billions in new taxes approved by voters last year.

“We achieved the position we’re in because of tough cuts … and then the people voted for taxes,” he said. “We broke the logjam by going to the people.”

Schools will be the big winner in the governor’s new spending plan, receiving $56.2 billion in state funds, an increase by $2.7 billion over the last year. That funding is set to jump to more than $66 billion by 2016.

The budget also dedicated an additional $350 million to the state’s public insurance program, Medi-Cal, to help implement President Obama’s healthcare law.

Brown’s budget predicts only the second budget surplus in the last decade, with an $851-million surplus projected at the end of the 2013-14 fiscal year — if all his proposals are approved by lawmakers.

Jerry Brown says we will have surpluses. I say we will not.

We’ll see who is right.

The boldfaced parts were by Patterico commenter Taney O’Haley, who said that it sounded like wishful thinking to her.

Donald Douglas referenced an article from Investor’s Business Daily which pointed out that the overwhelming majority the voters gave to the Democrats puts the restrictions under Proposition 13 at risk, and that there are already at least two proposals in the legislature to weaken it:

Already, state Sen. Mark Leno wants to put a measure on the ballot to lower the two-thirds vote threshold for school district parcel taxes to 55%. State Sen. Lois Wolk introduced a bill that would ask voters to drop the vote threshold to 55% for library parcel taxes and bond measures.

In the Assembly, Tom Ammiano plans to reintroduce a bill seeking to revise the definition of an ownership change that triggers a new business property assessment. Voters’ OK isn’t needed. Even if the bill stalls, as it has in the past, business owners fear that its goal — squeezing more tax money from commercial property — will surface in other proposals, some with better odds.

The tax increases approved by the voters in November were temporary increases, adding a 0.25% increase to the state sales tax, and creating three new brackets for the most productive Californians, lasting for seven years. For a single Californian earning $500,000 or more, the new 12.3% marginal rate, combined with the new federal top rate of 39.6%, means that 51.9% of his earnings over the thresholds will be seized just in income taxes alone. If his earning power is portable — and for many of California’s top producers, it won’t be — moving to a state like Texas or Florida, which have no state income taxes, is a completely rational economic decision.

How many will? We can’t know yet, but we’ll see in two more years, when Governor Brown’s projection of a balanced state budget is either realized, or it is not.
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Cross posted on THE FIRST STREET JOURNAL.

Posted in economics, Tax | Tagged: , , , , | Comments Off

 
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