Thread: This Is Not A CraigsList Notice

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Being an election year, I suppose most politicians are going to be too busy campaigning that all these tax issues, most of which have been pending for a number of years, will just be ignored.... Maybe a tax debacle like this will finally be what it takes to wake people up as to how inept our government has become???? Unfortunately, I doubt anything will be done about any of these tax issues til after the election... As for Obamacare, if we're lucky the Supreme Court will declare the whole bill unconstitutional!!!!

Lessons of failure of politically driven ideas as shown by Portugal, Italy, Greece, and Spain (and soon France?) haven't seemed to register with quite a few folks in this country. Maybe a home grown failure will finally get through? I'm not gonna bet the ranch on it................






California Ugly
Soaking the rich isn't working on the left coast.


It looks like that Facebook IPO may not be enough to save California's fisc after all. Facebook co-founder Eduardo Saverin has renounced his U.S. citizenship to move to Singapore, which has no capital gains tax. And now we learn the Golden State's budget deficit will come in at $16 billion, up from a merely awful $9.2 billion estimate in January.

California Controller John Chiang reported last week that April tax collections were a gigantic 20.2%, or $2.44 billion, below 2012-13 budget projections. You have to admire Mr. Chiang's capacity for understatement as he noted that "revenues disappointed." Yes, and J.P. Morgan's whale trade was a $2 billion rounding error.

Among the biggest surprises is a 21.5% or nearly $2 billion decline in personal income tax payments from what Governor Jerry Brown had anticipated. This reinforces the point that when states rely too heavily on the top 1% of taxpayers to pay the bills, fiscal policy is a roller coaster ride.

California is suffering this tax drought even as most other states enjoy a revenue rebound. State tax collections were up nationally by 8.9% last year, according to the Census Bureau, and this year revenues are up by double digits in many states. The state comptroller reports that Texas is enjoying 10.9% growth in its sales taxes (it has no income tax), while California can't seem to keep up despite one of the highest tax rates in the land.

This would seem to suggest that California should try cutting tax rates to keep more people and business in the state, but Sacramento is intent on raising them again. Governor Brown and the public-employee unions are sponsoring a ballot initiative in November to raise the state sales tax by a quarter point to 7.5% and to raise the top marginal income-tax rate to 13.3% from 10.3%. This will make the state even more reliant on the fickle revenue streams provided by the rich.

Meanwhile, an analysis by Joseph Vranich, who studies migration of businesses from one state to another, finds that since 2009 the flight of businesses out of California "has increased fivefold due to high taxes and regulatory costs."

This month Chief Executive magazine reports that its annual survey of CEOs ranked California dead last among the 50 states in business climate. Texas was number one. The silver lining for Jerry Brown, if not for the California fisc, is that if you're already ranked 50th you can't get any lower—though he seems willing to try.

A version of this article appeared May 14, 2012, on page A14 in some U.S. editions of The Wall Street Journal, with the headline: California Ugly. Copyright WSJ

I have no sympathy for Californians as they had a chance to elect someone who would have taken on the public sector unions and instead they elected the same jerk who started them down that path in the 70's. I wonder who is going to pay for all of those union benefits when California becomes a bigger wasteland than it already is. Hopefully someday the San Adreaus fault will break the state off and it can float to Mexico where it belongs.

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I recieved this in a e-mail, supposedly paid for by a vet who's still fighting. Next to Clovis, New Mexico.

You’re spot on (as usual) Uncle Bob – my dilemma is not near as great as those faced by Californians, but let me share a real life scenario:

The Great State of Oregon has been ruled by liberals for a long time. We jokingly refer to our largest city as “The People’s Republic of Portland” and as is many times the case, the largest population center dictates the agenda for the rest of the state. There are those who would like to cede Portland and establish an “East Oregon” for all territory east of the Cascade Mountains. (Very similar to the royal kingdom of Seattle ruled by Queen Christine I that you folks live “beneath” in Washington, eh?)

The liberal mindset headquartered in Portland dictated that those who make more money that what they consider to be “enough” should be taxed at a higher rate. Not able to ramrod a blatant referendum through the “funny-farm” in Salem, they instead pushed a bill that increases taxes on the “evil-big-nasty-filthy-rich” corporations under the guise that these corporations are almost all based in other places, like New York and such so this really doesn’t hurt any local businesses. Wrong again – the provision includes and likewise punishes all “C” and “S” corporations (“C” a lot more so that “S”) – raising taxes on gross income and making it retroactive to the previous year and payable on demand. Ouch – so we hunkered down and parted with a “not-insignificant” chunk of what would have been considered earnings that the politicians have re-classified as “profit” (which we all know is a filthy thing!!)

We paid the tax. But oh by the way, the $500 that I sent to a local community college didn’t get sent this year. The $200 I typically send to a local high school for uniforms for their marching band – sorry. The $750 sent the year before to another local school’s “Founder’s Club” didn’t happen. Why you ask? – Well, the State relieved me of the discretionary funds that I could/would have willingly and gladly directed to local entities. Instead, the State takes the money and funds a “heaven-only-knows black-hole project"…

I’m not bitter, but it sure takes away the incentive to earn more. I'm not rich nor am I evil - just working hard to make a good living for my family and a dozen others.

Just sayin….

Regards All,
Glenn

Glenn, I'm convinced most of today's politicians were schooled in that old discredited method known as "new math". They seem pathologically incapable of figuring out they are spending, and attempting to tax, more than our economy produces.

Gen. Powell is quoted as having said: “No battle plan survives contact with the enemy.” Or in the context of these tax discussions the word enemy should be exchanged for opponent. The tax and spender politicians have a plan, but don't seem to understand that those whom they attack have one as well. The problem for the power hungry taxers is, they don't really produce anything of sustaining value.................they must rely on their opponents to remain productive within society to fund their intentions. Once the producers exercise their options, bye bye funding. Of course, the ignorant voters who don't think it through go along with the false promises. Won't they be surprised one day? Again, we're getting a preview of what's to come compliments of our friends in Europe..........................anybody watching?

Some more c-r-a-p from this idiot in the WH. We are in big trouble if he is elected for another term. The Constitution has already been violated many times - and my guess is that the 22nd Amendment will be up for abolishment. That's the one which limits a sitting President to two terms - shades of Hugo Chavez et.al.

"Morning Bell: President Me

Rory Cooper

May 16, 2012 at 9:17 am

(0)

Reflecting on his two terms in office, President George W. Bush said in 2010, “You realize you’re not it. You’re a part of something bigger than yourself.”

This is a sentiment President Barack Obama did not inherit from his predecessor. Over the past month we have witnessed several displays of arrogant power emanating from our White House, emphasizing fealty to a person over the integrity of an American institution. Some are more serious than others.

First, this week it was discovered that White House staff had edited the biographies of many past presidents on whitehouse.gov to include a bullet point or two inserting President Obama into each historical narrative.

For example, while President Calvin Coolidge had been the first president to make a public radio address, President Obama is on LinkedIn; and while Social Security was introduced by President Roosevelt, under President Obama it still exists. But in a far more egregious example, they incorrectly added to President Ronald Reagan’s biography:

“In a June 28, 1985 speech Reagan called for a fairer tax code, one where a multi-millionaire did not have a lower tax rate than his secretary. Today, President Obama is calling for the same with the Buffett Rule.”

This is not only a complete fabrication of what President Reagan said (even The Washington Post‘s ‘fact checker’ gave this familiar line two Pinocchios) but it is also a glaring example of the President putting himself ahead of the sacred institution he is sworn to protect for the nation as well as his predecessors and successors."

Ref: Obama Continues Pattern of Arrogant Abuse of Power

Read and weep

I'm going out on a limb here guys,and say that unless somthing major happens this idiot will be here another 4 years. He dosen't have a strong opponent. He lies cheats and gets away with it. The unions back him. Wallstreet backs him, and the people he will tax will back him. Personaly I'm going to go clean my weapons.

Originally Posted by cffisher

I'm going out on a limb here guys,and say that unless somthing major happens this idiot will be here another 4 years. He dosen't have a strong opponent. He lies cheats and gets away with it. The unions back him. Wallstreet backs him, and the people he will tax will back him. Personaly I'm going to go clean my weapons.

Charlie - be really careful how you post as what you said is an implied threat. And Google keeps everything said on the internet in their files along with spying on US citizens with their drones

"


"I have no sympathy for Californians as they had a chance to elect someone who would have taken on the public sector unions and instead they elected the same jerk who started them down that path in the 70's. I wonder who is going to pay for all of those union benefits when California becomes a bigger wasteland than it already is. Hopefully someday the San Adreaus fault will break the state off and it can float to Mexico where it belongs. "




I hate it when people lump a whole state into one politcal person. I didn't elect or vote for Jerry Brown. I didn't ask for my taxes to soar. I didn't go running to Pelosi or Feinstein or any other person that is NOW CALIFORNIANS, but I was raised here and chose to live here. I would agree with much of what is said on this forum. I also know that for all of it's shortfalls California also is one of the most innovative states. Politically I know that many greedy unions are included in the financial troubles we have, yet some unions have promoted safer practices that were grass roots movements here, and have slowly spread across the nation. While many buisnesses flee the oppressive taxes and poor education systems in public schools, many employees fly here in droves such as nurses from areas like Florida, where their concept of safe patient ratios leads to changing safe nursing practice, to absorb the otherwise malpractice lawsuits that would ensue were your to neglect patients, and increase nursing workloads to huge unsafe levels.
It's not all black or all white but gray like most places. Our state politically is very liberal, and yes many laws these liberals inact are assanine, yet some are wonderfull. I've enjoyed eating in public restaurants without the benefit of someone elses second hand smoke. I enjoy working in a Hospital, where staffing ratios are some of the best in the country, so that I feel like most days patients are getting great care, vs. minimal care. We have beautiful natural resources which are protected so everyone hopefully will have a chance to enjoy them. So don't say we deserve what we get, It's like saying you deserve what is happening in the US because you voted for Obama. Not everyone did, and not all the problems started with him!

Originally Posted by IC2

Charlie - be really careful how you post as what you said is an implied threat. And Google keeps everything said on the internet in their files along with spying on US citizens with their drones

The only thing I implied was my guns are dirty.

And it's not 100% Obama's fault or Bush's fault for some reason people continue to send the same old career politicians back to Congress and they continue their same old agendas year after year and screw the people they are supposed to represent, in reality 50% of the presidents job is to be a scapegoat for these idiots.Ron Paul has had it right all along but the media uses him for target practice,as He has stated why should the U.S. be the worlds policeman? and why should hard working Americans have our tax dollars go to countries that hate us? We cut our budgets to the VA and to Seniors so we can give handouts to the Islamics that want us to go home,we need to pack up and take back the $$$ to where it really belongs.That's "change" that will make a difference.

I had a guy tell me in a meeting one day, "Roger, you need to apply the 'Rule of Holes'". When I asked what he meant, he simply said, "The Rule of Holes simply states that when one finds himself to be in a hole, it's best to quit digging."

Charlie, I think you need to employ the Rule of Holes on this one. You may have already dug too far.

Originally Posted by Jeff B

And it's not 100% Obama's fault or Bush's fault for some reason people continue to send the same old career politicians back to Congress and they continue their same old agendas year after year and screw the people they are supposed to represent, in reality 50% of the presidents job is to be a scapegoat for these idiots.Ron Paul has had it right all along but the media uses him for target practice,as He has stated why should the U.S. be the worlds policeman? and why should hard working Americans have our tax dollars go to countries that hate us? We cut our budgets to the VA and to Seniors so we can give handouts to the Islamics that want us to go home,we need to pack up and take back the $$$ to where it really belongs.That's "change" that will make a difference.

While I'm mostly in sympathy with your broad point, it pains me when folks think that cutting off foreign aid or foreign military bases will make any big difference in the problems we have. Yes, those expenses could and should be managed better, but they are a whiz in the ocean.

Keep in mind, we borrow something around 40% of what we spend, probably higher this year. That means we can only really afford the other 60%. "Taking the money back to where it belongs..." sound compassionate, but we don't really have it. In fact, we're already "helping our own citizens" in excess of what we can afford: Dependence on Government Highest in History

If you want to really be frightened out of your gord here's an article that goes into very detailed analysis of where and how quickly we are blowing the budget: The 2012 Index of Dependence on Government

That's why I will comment regularly that we will be Greece before we know it. We're going to have to cut the umbilical to government for a bunch of folks who have become too dependant..................and they are going to screech like stuck pigs.

Originally Posted by Bob Parmenter

While I'm mostly in sympathy with your broad point, it pains me when folks think that cutting off foreign aid or foreign military bases will make any big difference in the problems we have. Yes, those expenses could and should be managed better, but they are a whiz in the ocean.

Keep in mind, we borrow something around 40% of what we spend, probably higher this year. That means we can only really afford the other 60%. "Taking the money back to where it belongs..." sound compassionate, but we don't really have it. In fact, we're already "helping our own citizens" in excess of what we can afford: Dependence on Government Highest in History

If you want to really be frightened out of your gord here's an article that goes into very detailed analysis of where and how quickly we are blowing the budget: The 2012 Index of Dependence on Government

That's why I will comment regularly that we will be Greece before we know it. We're going to have to cut the umbilical to government for a bunch of folks who have become too dependant..................and they are going to screech like stuck pigs.

Wish I could "LIKE "twice