Crap you should read Monday (4/18)

Tax Day:

As millions of Americans scramble to file their Taxes before the deadline, Taxes and Budgets are at the forefront of most conversations. Unfortunately, the conversation has become so muddled with in accurate sound-bites, that now no one has any idea what they are talking- or complaining- about. This year alone, with so many tax breaks, 44% of households are not paying any Federal Income Tax. Granted a great portion of that was tax breaks resulting from mortgage-related recovery, (which was definitely needed) but in the coming years, facing huge debts and repeated threats of government shutdowns, should we really have almost half our country not adding to the Federal coffers?

Also, certain numbers show that the top 10% earners in our country actually paid more than half of our country’s taxes in 2007. That has clearly not been the case since the Bush tax cuts (And their extensions) have come into full effect. Tax rates have driven far below the 35% they could be for top earners, the lowest they’ve been in almost 20 years. Republicans want to ensure that the Rich don’t have to pay their full tax rate, and instead would rather cut all government spending to do so. President Obama wants to eliminate the tax breaks, but lower overall tax rates to be more accommodating. Naturally, both sides claim the other’s plan will ruin the country.

US Income Taxe Rates drop dramatically for the Rich

Where do I check off "Dis-Interested"?

 

 

Eliminate Tax Breaks? Cut Spending? Or gasp….Both?

Cuts proposed by the recently enacted legislation will slash government spending approximately $38 billion for 2011.That is $38 billion in programs that will be cut for our country: health care, infrastructure, programs for the future, programs for the poor, programs to decrease energy dependence, for the elderly, for education…the list goes on and on. The tax breaks, first instituted by Bush and extended by Obama, will total $42 billion for 2010. So basically, if we eliminated the Bush Tax Cuts, we’d be able to save the programs, and have $4 billion left over. Simple math right?

No, because Republicans feel that giving the money to business men padding their own pockets, will do the economy better than the government actually making programs to help those in need. After all, to create jobs, it is important that the boss feels rich. He must give himself huge bonuses and then ship jobs oversees to insure that Americans don’t see a dollar of that tax money he saved.

Now everyday Americans did get some money back from the tax “breaks”, about $1000 per household. That didn’t save jobs, fix the economy, or put us in a better place. It bought some HDTVs, iPhones, some Nike kicks, and paid for American Idol voting.

From January 2008 to January 2010, the private sector lost over 8 million jobs. That was during the tax break time that was supposed to create jobs. Now any tax “hikes” (which wouldn’t be a hike, just eliminating the “break” ) are being lauded as “job killers”. Seems to me the tax breaks were job killers. Stop the BS, and figure out a way to eliminate the tax breaks without breaking the small business owner.

Cost of tax cuts exceeds budget cuts

"So I told Pelosi: 'Go take a tax hike!' Now I sign by the X, right?"

Too Big to Cheat?

Recent government report affirmed that Goldman Sachs lied to clients and lied in a Congressional investigation. Turns out Goldman Sachs was getting their clients to do one thing, then betting against their inevitable collapse on the other side. Good business, right? Made zillions of dollars. Oh yeah, collapsed the economy while doing so.

Goldman Sachs Misled Congress and Clients — Newsmax.com

Its never polite to point, unless its at liars

US knows very little about Iran

In the wake of all the protests sweeping through the Middle East, the US realized it was caught off guard. Embarrassingly so. Now it has realized that we know nothing about what’s going on in Iran. The little pieces of news we get come from defectors and those willing to tell us anything to get the heck out of Iran. Recently released State Department cables demonstrate just how our intelligence is grasping at straws trying to make sense of the situation.

State Department cables reveal US is hungry for any news from Iran — McClatchyDC.com

US grasping at information from anyone to find out just how crazy it is in Iran

Are you Fracking kidding me?

The process known as Fracking, forcing water and chemicals into the earth to force it to release natural gas usable for energy, is sketchy at best. Recent reports have blamed Fracking for everything from earthquakes, to health issues, to Pia getting voted off American Idol. But many assert that the chemicals thrown into the earth are not good for the planet and the neighboring areas. Fracking companies refuse to release the list of toxic chemicals they use, citing “industry secrets”, but some have come to light. Right now the focus is on the high amounts of carcinogens used in the process. For you smokers, you recognize that word as what causes cancer. Ding, ding ding! You’re right. Millions of gallons of carcinogens have been pumped into the earth to facilitate the Fracking process. What can go wrong?

This underground pollution might make cheaper energy, but should it come at the expense of our health?

Fracking Report: Toxic Chemicals used, even more kept secret — Huff Post

I'm sure we dont need to regulate this either

Internet Poker done for?

The Feds have decided that Internet Poker is done, shutting down a couple of the most popular internet poker/gambling sites. Gambling is illegal in the US, (unless of course you are in Vegas, Indian Land, horse racing, playing fantasy football, doing your office NCAA pool, or playing the lottery) but these sites have remained up regardless. The reason? They were lying to the banks who were holding the accounts. Of course, the common man like myself can’t imagine the banks not knowing where the funds came from, or what their businesses were doing, but hey, they are too big to fail. Regardless, the Feds shut them down. This means the sites can’t accept money, and of course, if someone had money left in one of the accounts, they can no longer withdraw it.

Talk about a bad beat.

As for internet poker, is it too big to fail? Where can my friends now go to play 5 games at once while pretending they are researching?

Popular Internet Gambling Sites Shut down for Fraud, is entire industry doomed? — Reuters

Internet Poker Folds?

Technology

The Navy has developed a new laser to use as a weapon. This laser can pinpont targets on the high seas, and take them out as gently or violently as they wish. The laser can be dialed up to destroy, to overheat engines, or to harm people in its beam. It can also be dialed down to be an annoyance and hinderance. No matter what, its a scary sight to see how far we have come. I saw Real Genius, I know its only a matter of time until that beam is shooting down from space and littering popcorn all over my neighborhood.

Navy puts Laser weapon to the test

Navy tests Laser. Gay-dar next


2 Comments

  1. Leftie. You said, “From January 2008 to January 2010, the private sector lost over 8 million jobs. That was during the tax break time that was supposed to create jobs. Now any tax “hikes” (which wouldn’t be a hike, just eliminating the “break” ) are being lauded as “job killers”. Seems to me the tax breaks were job killers.”
    Correllation does not equal causation. The private sector lost jobs because of the radical ideas and moves of the Federal Government. A one trillion dollar stimulus program (which Sleepy VP promised needed to be passed in order to keep unemployment under 8%) is a program assured to fail. It will not do what the politican told you it was supposed to do. AND as another consequence, the business brains will not expand their businesses until the uncertainty subsides. Notice how the Feds confiscated ownership of General Motors. (read up on it: The feds converted a loan to equity, filed Chapter 11, then reintroduced a company whose majority share holders are the unions and the Government). Business owners wonder what company may be next. No wonder that they don’t hire anyone.

    In a nutshell, Leftie. If you tax something, people will do less of it. Tax cigarettes, people will smoke less. Raise taxes on gasoline, people will drive less. Tax production or income, people will do less of it.
    The corollary is true. Incentivize something, and people will do more of it. Give more money to people for not working (unemployment benefits), you will have more unemployed people.

  2. Corporations like General Electric don’t pay taxes (they probably receive money with crazy credits from their “green” windmill projects). It is also true that Labor Unions are tax exempt.
    But Big Government spends way to much. The government should downsize.
    Check this presenation. Like the Rynos Horn, it’s got sports, entertainment, and politics.
    http://www.realclearpolitics.com/video/2011/03/31/bill_whittle_on_eating_the_rich.html