Browse Tag

tax increase

Financial Armageddon

NYT Describes Mayhem of “Taxmageddon”, And It Will Scare You Sick

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What the hell’s going on at NYT? First, they do a piece on Andrew Breitbart. Then they warn the world that Taxmageddon will crush the world in 2013, beginning with the USA.

Financial Armageddon

Here’s how Business Insider summarized the David Leohardt article:

Basically, with no changes to current law, taxes will rise for everyone, and after tax, inflation-adjusted income for the average American will drop to 1998 levels.

Read more:

It’s largest tax increase in the history of Western Civilization, and it will happen if Congress doesn’t stop it. We could be looking at a 5 percent drop in GDP in 2013 alone.

Taxmageddon is the result of decades of borrowing to feed the entitlement monster. Only real entitlement reform will solve it.

The After Party will be at Crowne Plaza Grille at the Crowne Plaza Hotel in Clayton on Thursday, April 19 at 7:00 pm. Join us. Bring a friend.

BTW, David Leonhardt’s strategy for heading off Taxmageddon is electing Mitt Romney president. Imagine that.

5 Ways Warren Buffett Can Take Personal Responsibility and Stop Relying on Government to Solve His Problems

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Warren Buffett makes the erroneous claim that he pays less in taxes than does his secretary.  He claims that the government thus “coddles” the alg_warren_buffettrich.  He asks the government to increase his taxes, and the taxes of others like him, as if he is incapable of doing that on his own.

Buffett is half right.  He proves that government coddles people by asking the government to solve his problem of guilt.

To help Buffett learn to take care of himself, without government help. here are 3 ways he can assuage his guilt and built his self-esteem by solving the problem himself.

1.  Pay all you want to the U.S. Department of the Treasury. 

2.  Go Galt. Make less money. Give away what you have.

3.  Refuse all corporate welfare and tax breaks for all Berkshire-Hathaway companies, saving the treasury billions.

4.  Return the billions in corporate welfare that your companies have claimed over the past 5 years.

5. Pay your poor secretary more. Increase her salary until she’s in the same, privileged, low tax bracket you enjoy.

There.  Three simple ways that you, Warren Buffett, can solve your little guilt problem without asking the government to fix your problems for you

BTW, Mr. Buffett, please realize that giving the government 100% of your wealth and all future earnings will have almost no effect on the national debt.  But it will add your name to the dole.

Now, since we’re all capitalists around here, and because I’d like to get closer to your low tax bracket, where do I send my invoice for $250,000 for this advice?

80 Percent of Americans Read This Blog Every Day

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I’ll be honest with you: I’ve lied.

Usually out of desperation. I’ve lied to those closest to me—those most willing to forgive the thing I lied about. 

I’ve also told the truth to my own detriment.  In the long run, the latter works best. In fact, telling the truth works best in the short run, too.

So maybe Obama’s desperate. Maybe he knows that the debt ceiling debate is the beginning of the unraveling of Americum Sovieticum, his life-long dream. In desperation, then, he’s simply making stuff up.

How do I know Obama’s lying?

obama_big_lie-505x378The last time 80 percent of America agreed on something, the question was whether or not to get baby Jessica McClure out of the well. So when I hear that 80 percent of Americans support something, I assume it involves human life.

But somewhere, somehow, Barack Obama has found data revealing that 80 percent of Americans want—demand—a tax increase.

For the life of me, I cannot find these people.

I can find this Rasmussen poll indicating that 55 percent oppose a tax increase as part of a debt ceiling package.

I can also find a Gallup poll that finds only 32 percent would agree to tax increases as part of a deal.

Maybe the President saw this Quinnipiac University poll – with a questioned designed to elicit a particular response.  The question enticed 62 percent of 2,311 registered voters to accept some taxes on the wealthiest Americans. 

So, perhaps, Obama merely took that 62 and round up to the nearest . . . 80?

But there’s also the media defensive panic.

When conservative presidents are caught lying or being morons, conservatives tend to admit, well, maybe he shouldn’t have said “mission accomplished.” 

When leftists find their leftist president being a deceitful dolt, they obfuscate.  Huffington Post, New York Times—all the usual suspects—have scrubbed their sites of references to the President’s lie. (At least, my searches found nothing.  Then, again, I try to not to spend too much time on those sites.)

Instead, the left talks about this being the time to bring taxes into the equation.

Two people who get it . . . clearly:  Mark Steyn and Charles Krauthammer. 

Steyn, as usual, picks apart the stupid in “No Bargaining With Obluffer.”

Krauthammer destroys Obama’s credibility by pointing to Obama’s long and recent history of demanding more debt at any cost.

How about last December, when he ignored his own debt commission’s recommendations? How about February, when he presented a budget that increases debt by $10 trillion over the next decade? How about April, when he sought a debt-ceiling increase with zero debt reduction attached?

All of a sudden he’s a born-again budget balancer prepared to bravely take on his own party by making deep cuts in entitlements. Really? Name one.

So I lied again.  Eighty percent of Americans don’t read Hennessy’s View every day.  Not yet, anyway.

Jay Nixon Putting Party Ahead of Missouri? *UPDATE*

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Last week, the Illinois legislature passed a massive income tax increase on individuals and businesses.  Overall, it represents about a 67 percent income tax increase.

In response, neighboring states of Wisconsin and Indiana have wisely mounted massive campaigns to suck businesses and people out of Illinois.  Even New Jersey’s fabulous governor, Chris Christie, plans to fish the Land o’ Lincoln for some business transplants.

One state bordering Illinois has been notoriously silent.  Missouri Governor Jay Nixon has done nothing to steal business and residents away from Illinois.

Is Nixon being lazy?  Or is he just being a good Democrat?

While we’re at it, why isn’t St. Louis Mayor Francis Slay beating the bushes on the East Side?  The city needs business and people desperately, but Slay has been as silent as Nixon.

Look, people, I realize that we have a lot of friends in Illinois.  My wife is from GC.  Most of her family lives in Madison County.  But businesses and workers are going to flee to the state.  Illinois dropped from the 23rd best tax state to the 36th in one step.  With Democrats in charge of the legislature and the governorship, this increase is only the beginning.  Illinois taxes will rise until the people in Illinois elect tax cutting budget hawks.

In the meantime, Jay Nixon has an obligation to put Missouri’s economy ahead of Democrat party loyalties.  Missouri needs to follow the leads of Indiana, Wisconsin, and New Jersey by campaigning for fleeing Illinois businesses and people.

*UPDATE* Over on United for Missouri, Emily Iles explains the extraordinary dangers to Illinois’ economy this tax hike poses.