The Fair Tax Act Lower Gas Prices

2010 U.S. projected Federal Budget

March 1st, 2009 Comment On This Post

Total receipts

Estimated receipts for fiscal year 2010 are $2,381 billion, an increase of 8.9%.

Total spending

The President’s budget for 2010 totals $3,552 billion. Percentages in parentheses indicate percentage change compared to 2009. This budget request is broken down by the following expenditures:

  • Mandatory spending: $2,184 billion (-17.9%)
    • $695 billion (+4.9%) - Social Security
    • $453 billion (+6.6%) - Medicare
    • $290 billion (+12.0%) - Medicaid
    • $0 billion (-100%) - Troubled Asset Relief Program (TARP)
    • $0 billion (-100%) - Financial stabilization efforts
    • $11 billion (+275%) - Potential disaster costs
    • $571 billion (-15.2%) - Other mandatory programs
    • $164 billion (+18.0%) - Interest on National Debt

Deficit

With projected receipts significantly less than projected outlays, the budget proposed by President Obama predicts a net deficit of approximately $1,171.4 billion, adding to a United States governmental debt of about $6,578.9 billion.

2009 U.S. Federal Budget

March 1st, 2009 1 Comment »

Total receipts

Estimated receipts for fiscal year 2009 are 2.7 trillion(+7.1%).

Total spending

A pie chart representing spending by category for the US budget for 2009

The President’s budget for 2009 totals $3.1 trillion. Percentages in parentheses indicate percentage change compared to 2008. This budget request is broken down by the following expenditures:

The financial cost of the Iraq War and the War in Afghanistan are not part of the defense budget; they are appropriations.

Deficit

With projected receipts significantly less than projected outlays, the budget proposed by President Bush predicts a net deficit of approximately 407 billion dollars, adding to a United States governmental debt of about $10.2 trillion.

2008 U.S. Federal Budget

March 1st, 2009 1 Comment »

Total receipts

Estimated receipts for fiscal year 2008 were $2.66 trillion.

Total spending

A pie chart representing spending by category for the US budget for 2008

The President’s budget for 2008 totals $2.9 trillion. Percentages in parentheses indicate percentage change compared to 2007. This budget request is broken down by the following expenditures:

The Iraq War and the War in Afghanistan are not included in the regular budget. Instead they are funded through special appropriations.[1]

Deficit

With projected receipts significantly less than projected outlays, the budget proposed by President Bush predicts a net deficit of approximately 240 billion dollars, adding to a United States governmental debt of about $10.8 trillion.

The Best of Neal Boortz 2/23-2/27/2009

February 28th, 2009 Comment On This Post

neal-boortz-7518762Some interesting articles by Neal Boortz:

The Cramdown Bill

This week we are going to see this “cramdown” bill come up for debate. We are probably talking Thursday. But this is the bill that would allow judges to erase or reduce the principal amount of a mortgage for borrowers who file for bankruptcy. In other words … you buy a house for $225,000. You borrow $200,000 from a third party (individual, bank, mortgage lender .. whatever) to give to the person who sold you the house, along with $25,000 of your own. The third party lender takes a security interest in your home to cover any losses in case you fail to pay them back. Then you go deadbeat and file bankruptcy. The judge then rules that you don’t have to pay all of the $200,000 you borrowed from the third party back … and what’s more, the third party cannot rely on their security interest in your home to make themselves whole. Pretty nifty, huh?  Read the full story.

John Kerry Eyes “Extravagence”

It was only a matter of time before we got to this point. And it took Northern Trust Corporation to do it. That is the evil corporation that has sent John Kerry on a mission to make sure that he is seen as a watchdog for the taxpayer!  Read the full story.

Government Waste And Abuse

It seems like every day I read countless stories about government’s inability to do anything with efficiency or common sense. And it is your tax dollars that pay the price. So now, for your enjoyment, I have a few examples that I have gathered just from the last day.  Read the full story.

A Four Trillion Dollar Federal Budget

That’s the word. Obama is going to introduce a $4,000,000,000,000 federal budget for consideration by his myrmidons in the Congress. How nice. Are you starting to understand that this narcissistic menace is just as dangerous as we told you he was going to be?  Read the full story.

First To Go

OK, sure …sometimes I might go a bit far on the air just to elicit a response. This wasn’t one of those times. I’m talking about yesterday, when I was discussing the ramifications of Obama’s extremely popular tax increases on the evil, disgusting rich. Sixty-four percent of the businesses, companies, corporations, partnerships … call them what you will … that actually hire people in this country are categorized as small businesses. These are businesses that report their incomes on personal tax returns. Personal returns … not corporate returns. Are you following the numbers here? Sixty-four percent of job providers are small businesses and they employ well over 70% of all people with jobs. What’s more these small businesses are creating 80% of all of our economy’s new jobs. Now .. the kicker … hopefully you already know this. These small business owners are the very targets of Obama’s tax increases.  Read the full story.

Thoughts on Obama’s address last night

February 25th, 2009 Comment On This Post

state_of_the_union3Well, I watched the address last night.  I have to hand it to President Obama, he definitely knows how to give a speech and  is a great salesman by pitching that government is the only way out of this mess.  But before I go any further I would just like to say Nancy Pelosi is an  “Fing” nut job.  I know that she was playing with her cooch back there, eventually going into a freaking orgasm everytime Obama completed a damn sentence.  Anyway lets get to the address:

I love how he said that he wasn’t for big government, but yet addressed Congress and the nation by stating that government does everything well and private businesses do everything poorly and that banks are the focus of all that is evil in the modern world.  Banks and lenders pushed bad loans. No mention that the government virtually forced these banks and lenders to push those bad loans.  Not that government had anything to do with it:

President Clinton’s tenure was characterized by economic prosperity and financial deregulation, which in many ways set the stage for the excesses of recent years. Among his biggest strokes of free-wheeling capitalism was the Gramm-Leach-Bliley Act, which repealed the Glass-Steagall Act, a cornerstone of Depression-era regulation. He also signed the Commodity Futures Modernization Act, which exempted credit-default swaps from regulation. In 1995 Clinton loosened housing rules by rewriting the Community Reinvestment Act, which put added pressure on banks to lend in low-income neighborhoods.   Read this 1999 NY Times article:  Fannie Mae eases credit to aid mortgage lending.

Then he talked about how 95% of working households are getting a tax cut.  They aren’t tax cuts .. you get tax cuts if you pay taxes. Many of these people do not. These are income transfer checks … sometimes called welfare.   It’s called redistribution of wealth, taking from people who have succeeded and giving it to dirt bags.  Where is the economic freedom in that?

Talks of banks being fearful of lending. How is the cramdown legislation going to help that?  If Congress should pass a statute to give bankruptcy court judges the right to do cramdowns, they would be used to reduce the mortgage of someone who is upside down in their home to reflect the property’s current market value.  So lets say you owe $275,000, property is only worth $200,000 well you will just have to pay the $200,000.  And then guess who has to pick up the remaining $75,000 balance of the loan?  TAXPAYERS!  WOO HOO!

What else, oh yeah.  New lending fund. Auto loans, college loans … business loans. Funded by the evil rich, of course.  The speech was just basically about wealth envy, that banks and the rich are evil people.  I like the nice little slam against CEOs … private jets. “Those days are over.” CEOs are demons … evil people who have created this problem for all of us.  Don’t you have a private jet now Obama?  Oh yeah and how about a private helicopter?

Again he says: “Everyone suffering in part because of their (banks) bad decisions.” Government played no role here? All these evil banks?  Really played up this angle about banks being the face of evil in America.

Obama says that his budget is going to be a “vision for America.” How nice. I thought the Declaration of Independence and the Constitution were visions for America. Now they’ll be replaced by Obama’s budget.

Then went on to bast the automakers … years of bad decision making. “We will not protect them from their own bad practices.”   The problem here is only the automakers and their CEO’s.   No mention of the role that labor unions played in bringing these automakers to their knees.  And of course he said that America invented the automobile…the German’s invented the automobile.  As a matter of fact the Germans invented alot of shit, thank goodness we beat the bastards or else we’d all  be goose stepping idiots.

Obama also said “This is America. We don’t do what’s easy. We do what’s necessary.”  At this point I started buying into this shit and turning to the dark side until I punched myself in the face.

Mentions health costs as a major reason why corporations move “our jobs” overseas. Doesn’t mention our second-highest-in-the-world corporate income tax as a reason. BTW .. the jobs belong to the corporations, not the workers.  If they belonged to workers that would be called Communism.  The definition of communism: a socioeconomic structure that promotes the establishment of a classless, stateless society based on common ownership of the means of production.

“Complete and competitive education?” What does he mean by competitive. Does this mean that he’s for school choice and that schools will have to compete for students? Nope, he called school vouchers a fraud.

Ask every American to commit to one more year of education .. community college … training.   Good idea, but who is going to pay for that.  Oh yeah, the evil rich.

Obama wants to promise a higher education for anyone who will just do a bit of national service.

Called out parents to be responsible for their children’s education. Another good point.

“With the deficit we inherited.” You just knew the “inherited” word was going to come along. Well, he has a point. Thank you, Republicans. Of course he is going to double the deficit within the year so the GOP doesn’t take all of the blame.  But how does he plan on fixing this?  By taxing the wealthiest  and business owners of course.

Eliminate no-bid contracts that have wasted billions in Iraq. Didn’t mention that this process was begun under Clinton. Do we want to wait for a bidding process when materials and support are needed in a theatre of war?

Restore a sense of fairness and balance in our tax code by ending tax breaks for corporations who send our jobs overseas. Those jobs aren’t “our jobs.” The jobs belong to the corporations.  Sense of fairnes in our tax code would be the passing of The FairTax Act you knucklehead.

Tax free universal savings accounts for all Americans, huh? Let me guess … somehow I get the feeling that the government is going to fund these savngs accounts with taxpayer dollars from the evil rich.

“Restart the engine of our prosperity.” Fine, President Obama … but you need to know that the engine of our prosperity has been freedom and economic liberty, not big government.

The basic principle of this whole address was to warp the minds of Americans that BIG GOVERNMENT IS GOOD AND CORPORATE AMERICA IS EVIL!

RIP FREEDOM

Here lies The United States of America

July 4, 1776 - January 20, 2009

We can thank the Republicans for this and Neal Boortz explains it very well:

We knew what Democrats are, and they have only reinforced our thoughts since they took power. Our real problem here is that we didn’t know what the Republicans were. We actually put these people in office thinking that they were going to cut the size and the cost of government. We thought we could rely on them to be defenders of economic liberty and limited government. We couldn’t have been more wrong. They promised to get rid of the useless Department of Education. They didn’t. Instead, they doubled federal spending on education. They were going to get rid of the Commerce Department. They didn’t. When it came to pork spending and big government the Republicans proved themselves to be the equal of Democrats. They even managed to create a grand new welfare entitlement program that will speed our course to bankruptcy; the prescription drug program.

The point here is that it is somewhat useless to slam Democrats for being Democrats. We knew the Democrats were snakes when we picked them up. Someone should have warned us about the Democrats.  Democrats didn’t con us. Democrats didn’t fool us. They may have fooled the ignorant voters who bought this “Change You Can Believe In” crap .. but not us. It was the Republicans who conned us. We didn’t think they would turn out to be Democrats with nicer suits … but that became our reality.

Clark Howard talks IRS and CEO compensation

January 27th, 2009 Comment On This Post

clark_standing_250917Some interesting articles from Clark Howard’s website:

New kinder, gentler IRS policies

Owing money to the IRS can be one of the most uncomfortable things in the world. But now, in a surprise move, IRS Commissioner Doug Shulman has announced new initiatives aimed to help taxpayers who are unable to make good on their tax debt because of financial hardship.  Read the full story.

Executives who refuse bonuses and golden parachutes

Executive compensation is something of a sore point for Clark. In some of its more outrageous examples, you have former Home Depot CEO Bob Nardelli who received $130 million as part of his exit package. Meanwhile, Countrywide CEO Angelo Mozilo got $120 million when he exited — after playing a major role in our subprime mortgage crisis.   Read the full story.

Track your mortgage with a free amortization schedule

Years ago when Clark had his first home, the mortgage was sold off by the lender, and the result was a dispute about the balance. Clark contended he owed around $3,000 less than the new servicer of his mortgage claimed.  Read the full story.

Jan 26, 2009 — Ways to exit your cell phone contract

Looking to get out of your cell phone contract? CellSwapper.com and CellTradeUSA.com both offer you the chance. The type of phone you have is very important when you’re looking to swap — that is, the “hotter” your phone, the more likely someone else will want it.   Read the full story.

One hell of a letter

January 21st, 2009 6 Comments »

This is a letter that has been floating around the internet for a couple of days now.  This is from someone to their employees.  I don’t know if it is a real letter or someone was just having fun, but I hope that it was a letter to their employees:

To All My Valued Employees,

There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn’t pose a threat to your job. What does threaten your job however, is the changing political landscape in this country.

However, let me tell you some little tidbits of fact which might help you decide what is in your best interests.

First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a back story. This back story is often neglected and overshadowed by what you see and hear. Sure, you see me park my Mercedes outside. You’ve seen my big home at last years Christmas party. I’m sure; all these flashy icons of luxury conjure up some idealized thoughts about my life.


However, what you don’t see is the back story.


I started this company 28 years ago. At that time, I lived in a 300 square foot studio apartment for 3 years. My entire living apartment was converted into an office so I could put forth 100% effort into building a company, which by the way, would eventually employ you.

My diet consisted of Ramen Pride noodles because every dollar I spent went back into this company. I drove a rusty Toyota Corolla with a defective transmission. I didn’t have time to date. Often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business — hard work, discipline, and sacrifice.

Meanwhile, my friends got jobs. They worked 40 hours a week and made a modest $50K a year and spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes. Instead of hitting the Nordstrom’s for the latest hot fashion item, I was trolling through the Goodwill store extracting any clothing item that didn’t look like it was birthed in the 70’s. My friends refinanced their mortgages and lived a life of luxury. I, however, did not. I put my time, my money, and my life into a business with a vision that eventually, some day, I too, will be able to afford these luxuries my friends supposedly had.

So, while you physically arrive at the office at 9am, mentally check in at about noon, and then leave at 5pm, I don’t. There is no “off” button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have the freedom. I eat, and breathe this company every minute of the day. There is no rest. There is no weekend. There is no happy hour. Every day this business is attached to my hip like a 1 year old special-needs child. You, of course, only see the fruits of that garden — the nice house, the Mercedes, the vacations… You never realize the back story and the sacrifices I’ve made.

Now, the economy is falling apart and I, the guy that made all the right decisions and saved his money, have to bail-out all the people who didn’t. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed a decade of my life for.

Yes, business ownership has is benefits but the price I’ve paid is steep and not without wounds.

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why:

I am being taxed to death and the government thinks I don’t pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my “stimulus” check was? Zero. Nada. Zilch.

The question I have is this: Who is stimulating the economy? Me, the guy who has provided 14 people good paying jobs and serves over 2,200,000 people per year with a flourishing business? Or, the single mother sitting at home pregnant with her fourth child waiting for her next welfare check? Obviously, government feels the latter is the economic stimulus of this country.

The fact is, if I deducted (Read: Stole) 50% of your paycheck you’d quit and you wouldn’t work here. I mean, why should you? That’s nuts. Who wants to get rewarded only 50% of their hard work? Well, I agree which is why your job is in jeopardy.

Here is what many of you don’t understand … to stimulate the economy you need to stimulate what runs the economy. Had suddenly government mandated to me that I didn’t need to pay taxes, guess what? Instead of depositing that $288,000 into the Washington black-hole, I would have spent it, hired more employees, and generated substantial economic growth. My employees would have enjoyed the wealth of that tax cut in the form of promotions and better salaries. But you can forget it now.

When you have a comatose man on the verge of death, you don’t defibrillate and shock his thumb thinking that will bring him back to life, do you? Or, do you defibrillate his heart? Business is at the heart of America and always has been. To restart it, you must stimulate it, not kill it. Suddenly, the power brokers in Washington believe the poor of America are the essential drivers of the American economic engine. Nothing could be further from the truth and this is the type of change you can keep.

So where am I going with all this?

It’s quite simple.

If any new taxes are levied on me, or my company, my reaction will be swift and simple. I fire you. I fire your co-workers. You can then plead with the government to pay for your mortgage, your SUV, and your child’s future. Frankly, it isn’t my problem any more.

Then, I will close this company down, move to another country, and retire. You see, I’m done. I’m done with a country that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, will be my citizenship.

If you lose your job, it won’t be at the hands of the economy; it will be at the hands of a political hurricane that swept through this country, steamrolled the constitution, and will have changed its landscape forever. If that happens, you can find me sitting on a beach, retired, and with no employees to worry about….

Signed,

Your boss

Interesting articles to read for January 14, 2009

January 14th, 2009 Comment On This Post

Some interesting articles to read:

Within the first three months of the budget year, the federal government has already run up a record deficit of $485.2 billion. Your grandkids will thank you one day.

It’s not really a matter of if the Democrats raise taxes, it is when. At least, that is the mentality of a liberal. There is no other way to stimulate the economy or other tax plan that would give the money and power back to the people.

Union leaders are working on revamping their strategy to ensure that the Democrats pass their card check bill.

Roland Burris will officially be seated in the Senate tomorrow. Glad to see the Democrats finally came around.

Some great news .. yesterday on the show you heard me talking about Barney Frank’s brilliant idea to ban all corporations receiving bailout money from owning or leasing private jets. Well, Barney has now stripped the ban from the bailout bill.

The University of Colorado is planning to bring a “professor of conservative thought” to campus.

Barack Obama’s inauguration is going to be a Lincoln-themed inauguration .. right down to the food served.

The other day we told you about how Bernie Sanders had his boxers in a bunch over George Bush’s plaque in the Smithsonian .. well it looks like Bernie got his way.

As the mayor, when you city is running a $36 billion deficit, it may not be a wise idea to purchase yourself a brand new $30,000 Hummer on the taxpayers dime.

Barack Obama’s inauguration is going to air in movie theaters across the country.

The father of the year award goes to a California man who tried to sell his 14-year-old daughter into marriage for beer.

A cat has been banned from a post office in Alabama because “he doesn’t pay federal taxes.”

Our current secretary of labor says that our workers deserve a secret ballot. Too bad she is only in office for a few more days.

Hillary Clinton wants to use her position as Secretary of State to fight … climate change because “it could well incite new wars of an old kind over basic resources.”

All articles were obtained from boortz.com

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