Liberal Suicide
In a case of “here we go again”, the Democrats are following the Republicans down the spending path. Will anyone ever stop repeating the sins of the past?
Obama Takes
Say it Again
Do the politicians in Washington think that you’re ‘rich’ because someone handed you a bucket of money? Or that you hit the lottery?
The vast majority of the ‘rich’ are self made…meaning they built a business over decades with their own money and hard work. While they were getting ‘rich’, they paid a disproportionate share of all income taxes. Now that they are ‘rich’, they’ll pay more so that people who didn’t work as hard, or take as many risks, can have the same benefits as those that did.
Welcome to the new version of the American Dream.
Taxing the Rich…This Time for Healthcare
The pot of gold is about to run out on democrats…that is, taxing the rich to pay for things that other people aren’t willing to pay for. For the latest, check out this link: http://news.yahoo.com/s/ap/20090709/ap_on_go_co/us_health_care_overhaul
The rich don’t have a never ending pot of gold. People like me are considered rich, yet we run small businesses that have to lay off employees and cut back on investments in order to shoulder our currently high tax burden, let alone all of the new increases being proposed.
That means fewer jobs, lower tax revenues (people who work pay taxes—if I don’t hire them or keep them they don’t pay taxes) and higher entitlement spending for things like unemployment—they’ll be collecting when they get laid off.
Our current administration, and democrats in general, are clueless to the realities of all of these incremental taxes. The republicans blew it as well, but seem to be getting the idea of fiscal responsibility again.
New Jersey Raises State Income Taxes…Again!
It’s basically a double. Five years ago, effective tax rates in NJ went up by several percentage points. As of today, they are set to go up again for the highest earners. As one of those top earners, what am I thinking about right now? How to take my earnings, and my tax revenues, to another state that is more business friendly.
Instead of wooing people like me, states like NY, NJ and others are encouraging us to leave, and leave we will. If you don’t have kids, it’s a really easy decision. Move to a tax friendly state like Texas, Florida, Nevada or New Hampshire and tell the politicians in your previous state to go fx%^ themselves.
How is NJ doing since they bumped up the tax bracket for top earners a few years back? They’ve lost many of those top earners who have chosen other places to live and run their businesses. Tax revenues are down, as they are in all of these examples.
What states are doing well in comparison? States like Texas that are seeing a net inflow of residents, better job prospects and a growing economy.
More Taxes, Fewer Jobs
The headline says it all. As taxes go up, people like me need to take the money we would use to start a new business or expand an existing one and allocate it to the government. Will that create new jobs?
I’ll let the unemployment numbers today, and going forward, give you the answer: 10% plus unemployment is coming…fast.
More on Climate Change
As the house passes a historic bill to introduce “cap and trade”…read: TAX INCREASE FOR ALL, many former climate change cheerleaders are now reversing course. Obama’s own words speak to the length of time it will take for something like this to have an impact, if ever. So what’s the big hurry?
It’s back to the line by Rahm Emanuel: “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things you think you could not do before.” That statement by itself should worry most of us…just read it again if you still think it’s a good idea to follow that lead.
So what are many of the former proponents of climate change legislation saying today? Basically, hit the brakes:
http://online.wsj.com/article/SB124597505076157449.html
People who are lot smarter than our elected officials are pausing, and changing, with regards to their position on climate change. What’s the rush?
The Climate Change Joke
You’d think someone was kidding, but in reality, they aren’t. Did you know that more greenhouse gasses are emitted by belching farm animals than all of the other things you usually see associated with the whole climate change debate.
We’ve gone from calling it Global Warming, to Climate Change…and now we are faced with the reality that living creatures are the greatest emitters of what the EPA has deemed dangerous to mankind.
The idea of spending trillions of dollars to try and control the environment is ludicrous. If the true idea is to help poor people who are being affected by what they deem to be climate change, then simply use those dollars that would go to government coffers and distribute them directly in food, housing and medicine.
We could stop hunger and many diseases like Malaria in their tracks with this approach vs. the Al Gore sensational/line my pockets approach.
The Five Month MBA
If you owned a business would you hire an employee with zero business experience and make him your CFO? Would you let him drastically change every aspect of your business in that first five months? Would you throw away 200 years of facts: the fact that you’ve created the wealthiest business in the world?
I do own a business and I can tell you that nobody would do what I just outlined. That is, not if they wanted to stay in business. Yet, here we are as one thing after another gets piled onto the Obama agenda. Healthcare, Finance, Automotive, etc.
People need to take a look at EVERY government program that has been managed by our federal government. EVERY one of them has failed. Whether you’re talking about medicaid or social security, it doesn’t matter.
For those of you who voted for Obama, and continue to follow him blindly, maybe it is time to get your facts straight.
Hope? You’ll need more than that unless the independents and moderate democrats come to their senses. For more on hope, check out: http://online.wsj.com/article/SB124528087493225237.html
Higher Taxes and Growth
If you don’t believe that higher taxes negatively affect revenues and growth, think again. I see it from the perspective of a small business. When almost half of my profits go to pay taxes, and the other half needs to be there for the next month’s cash flow needs, there isn’t anything left over to fuel growth or new hires.
That leads to a stagnant business environment and higher unemployment. Look no further than the high tax states in the Northeast to understand how higher taxes are impacting their revenues. In Maryland, the idea of soaking the rich led to higher taxes fro the rich. Since no one has to stay in Maryland, higher taxes made them leave.
The end result? Less taxes for the state and fewer millionaires calling MD home. Where did these people go? Lower tax states like Florida and Texas benefit with job growth when these people, mostly small business owners, bring their businesses there.
Decision Making
Check out the latest reversal…this guy cannot make a decision. Now he has reversed himself on the prisoner ‘abuse’ photos. He should have rejected this earlier, but finally has come to his senses. http://news.yahoo.com/s/ap/us_pentagon_abuse_photos Leadership? Only a lack of it.
