Posts

Class Envy Continues – States Extort from Aircraft Owners

In the early 1990s, the U.S. Congress enacted a new law that taxed “luxury” items 10 percent. This was a big deal, since automobiles priced more than $30,000, boats more than $100,000, jewelry more than $10,000 and aircraft priced more than $250,000 were all targeted in the effort to enrich the government coffers.

So, why would you think this is a bad idea? Heck, when your talking about the people who are actually buying these luxury items, they certainly wouldn’t mind paying a bit more for these items would they? They are rich ya know, they can afford it. Tell that to the employees that were actually making these boats in Florida or selling these cars in New York. Read more

The Kennedy Fortune is Safe

We’ve all heard about the estate tax, aka the death tax, which is a tax that the federal government levies when assets are transferred from a deceased person to someone else. So how does the super-rich work within the law to protect their family assets?

To be clear, the U.S. tax code is written so if the assets are transferred to a spouse or a charitable organization there is no tax. Also, there are credits against the tax that ensure assets up to $2 million dollars that are transferred to children, as an example, are not taxed. Read more

Another Millionaire’s Tax – Don’t They Get It?

Let’s say you owned a successful local business with 25 full-time employees. Or maybe you’re a manager for a Fortune 50 company managing a staff of 50 in a city, how would you expect to be treated by the local government?

Would you be expect to be treated as a leader who has invested and supported the community, or would you rather be treated as a someone with deep pockets who can be tapped into as an additional government revenue source? Read more

Boehner Live Blogging Budget Debate – Good or Who Cares?

The House Republican leader – John Boehner from Ohio’s Eighth if you did not know – announced that tomorrow’s budget debate would be live-blogged during the session so people can be kept up-to-date.

Maybe they will try the application that I want to use for my first session, coveritlive.com? Maybe I’ll take the day off and live blog the live blogging? Doubt it.

Anyway, these budget sessions are notorious for being long and boring. Heck, most of what congress does in session or in committee – unless they are questioning a baseball star – is boring. Depending on what’s going on, this option may be a good recap or it can be a complete bust if they post every minute detail.

Budget Battle: Boehner Announces GOP Leader’s Website Will “Live-Blog” Budget Debate Tomorrow
Washington, Mar 4 –
House Republican Leader John Boehner (R-OH) today announced that tomorrow’s House Budget Committee debate on the FY 2009 federal budget will be “live-blogged” on the Republican Leader’s website. The Committee will begin consideration of the budget at 10:30am tomorrow, and the Leader’s blog will provide regular updates on its progress, including votes on key amendments, throughout the day. The up-to-the-minute budget coverage – dubbed “Budget Buzz” – will be available beginning at 10:30am at http://republicanleader.house.gov/Blog.

It’s my hope that we can get more members of congress to understand their oath of office and the entitlement programs are stopped dead. Not just a slight reduction, but stopped dead. Bring power back to the states and local governments.

Hat tip to Malkin.

Obama’s Entitlements for Everyone

Special thanks to Jim Vicevich for actually watching the full speech by Obama last night. I can’t even watch three minutes. Double thanks for sitting through it all again earlier today and editing down the message so we can get an idea of all the promises.

This is certainly not something new. Both Democrats and Republicans – including Bush 43 – create laundry lists of programs. It’s all about the entitlement agenda and the populist agenda – what can Congress do for you today?

Head over to Radio Vice Online to watch the video. Obama is speaking in Texas and specifically mentions that he supports the free market, understand that the people of Texas are independent and a self-reliant group that does not want government doing what we know we can do for ourselves.  Then of course, he goes into the list.

  • Reward teachers by giving them more money.
  • Raise the minimum wage every year to match inflation.
  • Provide a $4,000 tuition credit to those in college.
  • Ensure everyone has health insurance as good as his Senate program provides to him.
  • Roll back the Bush tax cuts since the rich people didn’t need them.
  • Give tax cuts to everyone who makes less than $75,000 per year.
  • Seniors who make less than $50,000 should pay no income tax at all.
  • Raise fuel efficiency standards to bring down gas prices.

I could barely keep up as I typed out the stuff, and it will not end any time soon. One thing that you’ll note is that his agenda – no matter how well it is delivered – is the exact same agenda that Democrat national candidates have been pushing for decades. There is nothing new here, every single item on the list above comes right from the standard playbook.

Thanks for the new ideas Barak.