Tag Archives: Taxes

“Barely above stall speed”…

042613_Imus_MacedoGDP growth came in at about 2.5 percent in the first quarter, shy of the expected 3.0 percent, and well below what most credible economists see as a number necessary to promote real job growth. Oddly, consumer spending ticked up again which I believe is related to the rise in consumer debt. A lot of folks are simply “charging it” again.

Scary as that may sound, it pales in comparison to a piece of news I heard today regarding how the fed will now measure the nation’s economic size and strength. Apparently, Beyonce’s album sales, and a host of “research and development” spending will now be added to our overall economic picture to show some size, if you will. So not only do we have to swallow the “pie in the sky” wishful economics of our “Professor in Chief”, but our government is actually going to  factor in a whole bunch of phantom numbers to disguise our obvious fiscal malignancy. Great…

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Stand Fast!!!

boehner_angle_ap_imgJohn Boehner was re-elected for a second term as Speaker of House yesterday, but not without some drama. From what I am hearing, Boehner just cleared the threshold requiring a second round of balloting, with 220 votes. Apparently, there were as many as nine Republican defections.

My take on this is simple. At no time in recent memory has it been more important for our elected representatives to stand on sound fiscal principle. The days of “bi-partisan” shenanigans at the expense of our children must come to an end. And unlike many dreamers out there, I know this has absolutely nothing to do with “inclusiveness” under one tent or another. I am not confused nor will I be swayed from the reality that “We the People” have allowed Washington to financially undo The United States of America. I ask the Speaker to lead in a way which will make him synonymous with our nation’s revival, not its demise.

With the election over, and as we await an Inauguration to mark the peaceful transition from one term to another for President Obama, I remain hopeful Americans will wake from their dreams of utopian bliss and realize our wounds are by and large self-inflicted. And in doing so, chart a new course back to that which makes this, the greatest nation on the face of the earth.

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Fiscal Fiasco…

Talks on the so-called “Fiscal Cliff” are collapsing as I knew they would. And despite the fact many Republicans appeared ready to roll over and play nice with the POTUS, it now seems pretty obvious the President wants to take a “perceived” mandate for a test drive down a one way, and John Boehner is having none of it. Notably, I seem to remember telling all of you this President was not the least bit interested in “bi-partisanship” or anything to do with real recovery. Simply put, his campaign style approach to securing his ideological intentions for our nation is right on track. And in spite of overwhelming evidence to the contrary, many of the President’s “fans” believe tax hikes on “rich folk” are going to put a chicken back in every pot.

Regrettably, I am beginning to see another of my predictions taking shape. This one however will be much more painful than anyone could have imagined. It will be this new and more dramatic economic downturn that may finally shake the Obama Presidency to its core. Who Americans will blame as a result is a question to be answered in the coming months and years. Nevertheless, Mr. Obama’s “political capital”, as it is often referred to by the pundits, may have a much shorter shelf-life in his second term.

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That sickening feeling…

It is nothing short of shameful that folks like the portly pundit Bob Beckel are touting 163,000 jobs as if that were nearly enough to dent the real unemployment number of over 15 percent in this country. Even more disturbing, is their “purposeful ignorance” when it comes to other factors like last month’s jobs numbers being revised from 80,000 to 60,000, as if 80,000 were not bad enough. And then we read that 153,000 people simply left the work force entirely last month. So what does that mean? It means the net gain of jobs is actually a net loss of (-30,000 jobs), in terms of contributing revenues.

Any economist with credentials beyond those of a classroom twerp will tell you, that an economy with the breadth and scope of the United States economy, requires consistent job creation in the range of 225,000 to 375,000 jobs per month to constitute tangible, albeit average recovery. The simple truth is that our nation remains wounded and staggering without hope of stabilization short of unleashing the “power to prosper”, by way of massive across the board tax incentives and a complete restructuring of the U.S. tax code. Realistically, we are actually sitting at the best possible juncture to push the reset button on years of reckless feel good spending and income tax nightmares.

These numbers today spell real trouble for an incumbent President, and believe me the Obama Team knows it. Oh, and message to WH Harry Reid: Mitt Romney has paid far more taxes in his working career than your entire family generationally has “earned” in all of its history. What a complete imbecile….

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Presidential disconnect…

For a POTUS presiding over unemployment numbers realistically closer to 15%, it boggles the mind how the word taxes can even cross his lips. I suppose his ideological mindset will simply not allow for common sense and/or history’s lessons.

Firstly, when President Obama spoke of “those making $250,000.00 or more” as the “wealthy” among us today, it was maddening to think he was incapable of drawing the connection between small business, DBA’s, small LLC’s and other folks, who are the life’s blood of our economy, and who are the only hope of any meaningful recovery. This “tax plan” is simply another class warfare stunt that will further handicap any infinitesimal progress to date on the economic front. How any logical thinking person can believe this type of Progressive tax approach, along with massive regulation and now universal healthcare, are somehow conducive to economic growth is simply inexplicable. However, that is a topic for another day, (and many more after that).

Anyway, the “revenue” generated by this massive tax will explode the national debt by $4 “T”rillion dollars over 4 years and generate only enough usable capital to run our bloated government for just about 8 days, yes people 8 days! Is there anyone out there who truly believes this “tax the rich” scheme is legitimate and not a campaign tactic meant to distract and destroy? If you do, you are beyond all reason and actually a big part of the problem.

For my part, I believe this President knows full well he cannot find enough revenue on Wall Street to fuel his “hope and change”, and so he intends to cut a line even closer to the beating but injured heart of our nation. Hopefully, he and his Marxist college buddies will be shown the door in November, before “We the People” bleed out from the many flesh wounds already inflicted.

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Factual Hurricane…

There are 1 million fewer (jobs available) in the job market today than there were in January 2009. The unemployment number is ticking down at a rate that would not see pre-Obama levels until 2018. Jobs created last month were an anemic 150,000, and manufacturing has been revised down yet again to reflect the Obama “new norm”. (Note: Average Job creation under Clinton was 240,000, Bush 20,000, Obama -53,000 that’s right, negative), and this is allowing an extra 6 months to accommodate trickle down “stimulus” spending. Median income levels are down 2.3% and poverty is up 1% since 2009. Gas prices are headed North of $4.00 per gallon. The federal government has spent an unprecedented $6 Trillion dollars it did not have since 2009 making the national debt nearly $16 Trillion. There are more people receiving some sort of government assistance today than at any time in U.S. History. 45% of Americans pay almost 94% of all income taxes while over 50% pay nothing at all. Our enemies are salivating as we crumble from within, and expectations are to say the least pitifully un-American, as we are fast losing site of the country our parents entrusted to us.

This is just a glimpse of a factual hurricane that will eventually devastate and change the United States forever. And President Barack Obama’s answer? – Blame Bush, more taxes on job creators, class warfare, and a level of political division unprecedented in American history. The “great uniter”, I think not… Please wake up America. It’s time to save our nation from this failed academic and elitist experiment.

Oh, and I should mention that the POTUS’s “fairness” tax will raise a mere $700 billion dollars over 10 years, against a deficit projected to be over $23 Trillion by then at our current rate of spending, (“Affordable” Care Act not included). Election year politics as demonstrated by a masterful demagogue? Absolutely…

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A stake in the game…

On the matter of “class warfare” and the Obama “fair share” doctrine, I think it is interesting to note (again) who pays most of the taxes in this country, and that 49% of Americans pay no income tax whatsoever. I’m quite sure that I will never convince the hard-core Socialists among you that for any individual to see the problem he/she must have a stake in the game, no matter how small or big. Having said this however, the equation of “tax the rich” has a shelf life, and that is as long as the money is there. What happens when the rich become the poor? What happens when those risk takers and entrepreneurs are taxed out of existence? Who shall we work for then, the government?  

There is a balance folks. Do not be blinded by the puppet master holding up a caricature of someone to blame for your lot in this life. That ideology has failed civilization time again throughout history. Let’s all get in the game and work for a flat tax across the board, with the less fortunate exempt until they may bring themselves up. Let’s help those who need it and not subsidize those who don’t. You know I’m right, and time is running out…

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