I have this theory about mega-rich people being occasionally embarrassed by their own fortune. It’s only a theory, but with Warren Buffett’s recent op-ed in the New York Times I think his post is partly about wanted to be liked by people. Maybe he wants you to click on the Like button on his Facebook page.
President Obama has recently taken to the air waves to ask Americans to help him with his deficit plan. Although no one has yet seen his plan, we do know that, in his mind, unless we raise taxes immediately, the sky will fall. So, I say, let’s help him. Read more
Future funding of state and local employee pension plans is a complex subject. It’s not a sexy story, and I really don’t think people want to worry about stuff that will happen next week let alone a decade or two down the road. That said, one academic study out of Northwestern University suggests huge tax increases need to start now to ensure funding for future liabilities.
Yesterday, the Connecticut legislature passed a $40.1 billion dollar budget. Of course, it isn’t balanced but, Governor Malloy “hopes” to get $2 billion in concessions from the unions, after which, the budget will balance. It includes some $2 billion in increased taxes including a “temporary” corporate tax surcharge on a 7.5% corporate tax rate. Read more
College Republicans at the University of California Merced pulled out the video camera for a redistribution experiment. Organizers asked students with “excessive” GPAs to give up a portion of their own GPA to students having a tough time meeting graduation requirements. Guess how many were willing to help out?
There has been a lot of discussion concerning where the money really is on conservative blogs, the Wall Street Journal and the Rush Limbaugh show. I heard Limbaugh discuss the subject during his first hour yesterday and I thought his presentation was a bit confusing to listeners.
I heard a radio ad today promoting Gov. Dannel Malloy’s (D-Conn.) budget plan which mentioned some sort of “Do the Math” website. OK, let’s do some federal math. If you confiscated every dime from US taxpayers with returns that showed an adjusted gross income (AGI) of more than $1,000,000, how many days could the federal government operate?