Who knew? The tobacco market is still paying too little of their fair share! (I'm a former smoker and I feel bad for those who can't quit. They're paying to the bone for it now)
I guess Government is the part of the economy doing really well? They do seem to be about to receive some pretty beefy budget increases of all sorts. Too bad private sector business isn't expanding by such larg...oh, wait..someone has to pay for the Government good times, huh?
Dirk, I'm sorry, but they have to. Whether you see Washington as determined to reduce everyone except a few favored corporation heads to a vast, lower middle class pile of sludge, or you see them as needing money for "investment" which only seems to show profit for unions, they need more money.
No away around that for a couple of years. Then consider what happens if Hillary wins and the Senate turns Democrat. Better still, don't consider it.
Even if everyone quit smoking tomorrow the loss of revenue would just have them adjust somewhere else to make it up. Their intention of taxing cigarettes was never to make people stop, thats a fools proposition, this has always been an additional source of income in the name of improving the quality of life. Because if their intention was to improve the health of the citizenry, and reduce medical cost to the nonsmoker then the obvious answer is to just outlaw the product.
I love the dichotomy the government placed itself in when they force legislation to improve fuel milage through cafe standard. Then only to see a loss of tax revenue because the car goes farther on a tank of gas. So they run up these trial balloons of GPS, tracking devices, to monitor your milage to have you pay by the number of miles you drive. Everyone hates oil companies, but it is our illustrious government that makes money on fuel cost, the oil companies do really well but they have cost and pay huge taxes. The government has no investment in acquiring this tax on fuel. What you see at the pump is only a small part of the taxes involved in producing gasoline or diesel.
The answer is to shed ourselves of useless politicians that only know how to spend and not conserve. When we figure that out the rest will be easy. The winds of technology are blowing it will be sometime before the citizens enjoy the cost savings but the Navy has quietly been purchasing Low Energy Nuclear Reactors or LENR clean burning cold fusion reactors for ships power.
It's like a second death tax (the first one has a top tax rate of 40% and a standard deduction of $5.3 million/$10.6 million for surviving spouses). Conceivably, an accumulated capital gain could face a 40% death tax levy and then a 28% capital gains tax on what is left. Do the math, and that's an integrated federal tax of just under 60% on inherited capital gains.
What was once a wealthy family can now be totally impoverished within a couple generations. Better watch Kardashians and Paris Hilton, they're coming for you too!
Beware the man who has one gun, he probably knows how to use it.
By increasing taxes, I would think the net earnings of much of the working class would then fall under poverty-or near poverty- level. That would enable untold numbers of people to qualify for 'assistance' in the form of housing, food stamps, ACA subsidies, etc.
More 'redistribution'?
I know far too many people who can't afford to work full time hours at minimum wage. They would lose their 'benefit' package, and effectively reduce their standard of living by more than half. Government subsidies seem to have reduced the lower wage earners to remain dependant on handouts, and now they are focusing on reducing the middle class to a dependant state.
Back in the 60's when 'subsidized housing' was created, I got laughed at for saying this was a well designed long-term plan being implemented. I don't even feel like gloating........
I think Obama is going to find what France recently discovered and after a great deal of harm had been done.
You can push the poor and middle class all you want, and those two classes are stuck to take whatever comes. What are they going to do? Go on a general strike? Oh..that'll teach Uncle Sammy.....what futility looks like.
The rich? lol.. When the going gets tough, that bunch just gets going. Tax them enough and they'll either stop producing...as the only group who CAN do that and simply produce nothing for long periods of years ...or they'll wave goodbye to America forever and watch from the distance of a foreign tax rate.
We were already the highest corp tax rate in the world..before this..now? We're the highest + additional costs that overshadow the base tax rate. (sigh)
Reward what you want and tax what you don't. Indeed... We see what the President hates...unfortunately, an economy can't base itself on the foundation of poor people.
What departments are up and down in Obamaland this year? AP did a story looking at % change per Cabinet level department. Some surprises...by amount, if nothing else.
ENVIRONMENTAL PROTECTION AGENCY
Up or down? Up 55.6 percent
Well there is one sector of the economy not hurting. 55% increase? The greenie weenies must be ecstatic..while the rest of the nation looks to derail that particular little train, IMO.
EDUCATION
Up or down? Down 24.3 percent
What's new? A proposal for free community college
Only in America can the man suggest the greatest expansion of public education spending in America's history ...while saying spending for education by federal sources will drop in the coming year. (reality..doesn't have a place in his vision of life...does it?)
HOMELAND SECURITY
Up or down? Up 9.1 percent
What's new? An extra $8.2 million to improve White House security.
We have a secret service that is too busy in fights with overseas street walkers and call girls to protect much....so indeed, on top of whatever was built under the White House Lawn, and deep beneath the fountain, they definitely need millions more! (Hey..how about explaining what the hell WAS built that took such time, caused so much local disruption and consumed such enormous amounts of concrete? Obama has a real fear issue..huh?)
NASA
Up or down? Up 2.9 percent
What's new? Not much. Just more money for planned missions.
Well, at least the laughing stock of the world scientific community for space development isn't being cut MORE. It's still a pathetic little 18.5 billion they are generously allowed to exist with...but it's better than actually cutting!
So there is a sample. It should be an interesting year to come. More loss, more cost and by the look of things? A WHOLE NEW war with American combat troops fighting again for Iraqi sand and Syrian land thrown in as a bonus..just starting up. (10,000 suggested to deploy in the last report I heard ....so..they better keep that defense well funded, eh?)
Hey @wrabbit2000, I like this post you need to do more of these, it reminds me of some show on the boobtube what's up and what's down maybe it's Fox News. Short and concise and great info.
These are two that I am happy to see go up as repairs to both are sorely needed.
TRANSPORTATION
Up or down? Up 31 percent
What's new? A plan to tackle an estimated $2 trillion in deferred maintenance for the nation's aging infrastructure by boosting highway and transit spending to $478 billion over six years.
ENERGY
Up or down? Up 13.8 percent
What's new? Calls for reforming nuclear waste disposal by establishing an interim disposal site.
But while I see the budget being boosted in these sectors I worry that it'll be spent unwisely and on things like the high speed rail or Solyndra which are boondoogles.
They needed to fix what needs fixing first, then start to think of new ways of doing it. Stop throwing money at the "Idea Fairy".
Beware the man who has one gun, he probably knows how to use it.
Post by blackcatmagic on Feb 4, 2015 9:41:00 GMT -6
HOMELAND SECURITY
Up or down? Up 9.1 percent
What's new? An extra $8.2 million to improve White House security.
How about we get rid of Homeland Security all together. We have a military for a reason.....to,you know, protect us from enemies foreign and domestic. Also shouldn't it be the military that protects it's commander in chief, anyways? Seems a bit redundant to pay two groups to do the same job. I'm sure our troops would love it if that $8.2 million went to a pay increase. . .
Hernando's Hideaway Plank Owner
"Real knowledge is to know the extent of one's ignorance." -Confucius
Post by bonhommearmonica on Feb 4, 2015 12:56:56 GMT -6
I appreciate the warning the government looters give
lol..
Here is what I would do..
I have no overseas wealth for them to tax
I would hire a homeless native that has no job (keeping his balls in jar of course)
He is now making the money for US tax purposes
(rig it differently for natives structure)
I would rather pay the native a million rather then have the us take twenty to thirty million
screw the looters policy and BTW It is probably going on
The EU is a beautiful mess of regulation
Another million and I buy local looters on the payroll and poof.. I am up 18 million
If you want the overseas crap to stop fight it in economic terms the companies understand and will follow Make the cost of international good match the US labor cost for the equivalent
So when it gets here make the Mofo pay at the dock If your gonna loot be intelligent about it