Archive for December 10th, 2010

Republican Leadership and Establishment Sells Out The Tea Party Movement–Kill The Obama/Republican Bad Deal!

Posted on December 10, 2010. Filed under: Agriculture, Banking, Blogroll, College, Communications, Economics, Education, Employment, Farming, Federal Government, Fiscal Policy, government, government spending, Investments, Language, Law, liberty, Life, Links, media, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Video, War, Wisdom | Tags: , , , , , , , , , , |

Rush – You Have To Ask Yourself What Was The Point Of The Election

 

Brett gives details Krauthammer a big win for Obama but more debt

 

 

Dick Morris Calls Tax Cut Deal “A Surrender”

 

Michael Savage Dec 10 2010

 

 

News From the Cartoons – Bush Tax Cuts

 

Extending the bush tax cuts explained.

 

Will Obama’s Tax Cut Extension Boost Economy?

Suspend SS Payroll Tax? Robbing Peter to pay Paul?

 

Conservatives Oppose Extension of Jobless Benefits

 

House Democrats Reject Obama Tax Compromise

 

Mike Pence: It’s ‘Unconscionable’ the Democrats Didn’t Vote on Bush Tax Cuts Extension

Laffer Curve: Obama gets it? Is Obama a supply-sider now? Extending Bush tax cuts?

 

The Democratic Party’s Communist Dream

The Communist Manifesto

  1. Abolition of property in land and application of all rents of land to public purposes.
  2. A heavy progressive or graduated income tax.
  3. Abolition of all right of inheritance.
  4. Confiscation of the property of all emigrants and rebels.
  5. Centralisation of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly.
  6. Centralisation of the means of communication and transport in the hands of the State.
  7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan.
  8. Equal liability of all to labour. Establishment of industrial armies, especially for agriculture.
  9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equitable distribution of the population over the country.
  10. Free education for all children in public schools. Abolition of children’s factory labour in its present form. Combination of education with industrial production.[12]

~Karl Marx and Friedrich Engels

http://en.wikipedia.org/wiki/The_Communist_Manifesto

The U.S. Constitution? Or Obama’s Communist Manifesto? :: WHICH ONE, AMERICA? You MUST Choose!

The Tea Party Movement is against increases in Federal Government spending, subsidies, regulations and higher taxes.

The Tea Party Movement is for limited government and immigration, free enterprise, fiscal responsibility and a strong national defense.

The Tea Party Movement wants comprehensive tax reform–either a one rate flat income tax or a national retail sales consumption tax–the FairTax, preferably the latter.

Until this happens the Bush tax rates should be made permanent  with no estate and gift taxes.

As a minimum the Bush tax rates should be made permanent including those on  personal and corporate  income, capital gains and interest, and estate and gift taxes.

If the Democrats want another extension of unemployment benefits then the they must agree to the three lower rate brackets for all Americans.

Otherwise let the Democratic Party and President will be responsible for the large tax increase in the middle of a recession with over 30 million Americans seeking a full time job.

If you want to  “stimulate” the economy and avoid the Great Recession becoming the Obama Depression, cut the existing tax bracket  rates  and have three tax bracket instead of the current six brackets.

The Republican Party should replace the current six rates of 10%, 15%, 25%, 28%, 33% and 35% with three new lower rates of  10%, 20%,  and 30%.

 For single taxpayers  the 10% bracket would be for taxable income up to the first $100,000.

 For single taxpayers  the 20% bracket would be for income  from $100,000 to $25o,000.

 For single taxpayers  the 30% bracket would be for income exceeding $250,000.

 For married taxpayers  the 10% bracketwould be for taxable income up to the first $200,000 taxpayers.

 For married taxpayers  the 20% bracket would be for income up from $200,000 to $500,000.

 Formarried taxpayers  the 30% bracket would be for income exceeding $500,000.

The Democratic Party and President Obama wants to replace the current six rate brackets of 10%, 15%, 25%, 28%, 33% and 35% with five new higher tax  brackets  of 15%, 28%, 31%, 36% and 39.6%.

Sell three lower tax brackets to the American people.

Which do you think the American people will want?

Certainly not higher tax rates and taxes when 30,000,000 Americans are looking for full-time jobs!

The Tea Party Movement wants balanced or surplus budgets which means cutting Federal expenditures by at least $1,000 billion per year. This  requires the closing of  ten Federal Departments, several agencies and over a thousand programs.

Stop subsidizing alternative  energy such as ethanol, unemployment, and illegal immigration.

Permanently shut-down  the Departments of Agriculture, Commerce,   Education, Energy,  Housing and Urban Development, Health and Human Resources, Interior,  Labor and Transportation.

The Obama/Republican  deal extending existing tax rates by two years does not do any of  the above.

Instead the proposed bad deal would  increase Federal Government expenditures and subsidies  by at least another $200 billion or more per year.

This is a complete sellout of the Tea Party Movement.

The Republican Party establishment better get with the program or else face defeat in the next election like they did in 2006 and 2008!

Either the Republican establishment leadership walks away from this sellout of the Tea Party movement or the Tea Party Movement will demand new leadership or a third party to replace both the Democratic and Republican progressive parties.

Any Republican who votes for the Obama/Republican so-called deal will be replaced when they come up for election.

The time has come for the Republican establishment to show leadership and not appeasement to the big government interventionists–progressive radical socialists of the Democratic Party.

Kill The Deal!

Otherwise replace the Republican leadership in the House and Senate.

Remember what happened to the last Republican President who said “read my lips no new taxes” and then reneged on his promise.

This will happen to every Republican who votes for this deal.

Kill Obama’s Bad Deal!

The proposed bad deal is a trap.

If Republicans vote for this bad deal, Obama will blame another failed so-called stimulus bill on the Republicans and say he tried tax cuts and they did not work.

Only  Marxists, progressives and the Democratic Party want and expect the tax rates to rise in 2011 to pay for the growing scope and size of government.

Larry Kudlow, Republican and radio/television commentor, is profound wrong when he repeatedly says that the extension of existing tax rates is a tax cut. This is the same nonsense that cutting the rate of growth in government spending is a spending cut.

Both are an attempt to deceive the American people.

The American people want a permanent extension to the existing rates and/or real tax reform such as the flat tax or the FairTax.

The American people want real spending cuts exceeding $1,000 billion per year and not more subsidies for ethanol and alternative energy.

The American people are tired of being robbed and held hostage by the progress radical socialists of the Demoratic Party.

Kill Obama’s Bad Deal.

The Tea Party movement will be taking names of those Republicans who voted for  this economic and political bad deal.

Run, do not walk, away from the so-called Obama/Republican proposed tax bill to extend current tax rates for two years.

Limbaugh, Hannity, Levin, and Goldberg are right and Kudlow, Krauthammer,  Bennett, and the Republican establishment and ruling class are wrong both economically and politically.

The Tea Party movement agrees with Limbaugh, Hannity, Levin and Goldberg.

 

Mark Levin – We Need Leaders, We Need Leaders That Know What There Doing

Time for the Republican party to stop playing defense and go on the offense.

Time for the FairTax.

The FairTax: It’s Time

Stop the sellout of the Tea Party Movement! 

Kill the Bad Deal.

Rolling Stones – You Can’t Always Get What You Want (Live 1969)

 

 

The Big Chill Funeral Alex

 

One or both political parties are slowly committing suicide.

May they rest in peace.

 

 

Background Articles and Videos

  

December 13, 2010

The Lesson of the Tax Deal and the Deficit: Teach Your Kids Chinese

 

“…Of course, federal budget accounting is odd, to say the least.  An extension of existing tax rates is not any new stimulus, but it counts as new deficit, since the current rates were supposed to expire at the end of 2010 and then rise to levels in effect before the 2001 and 2003 cuts.  Since the federal government is now borrowing about forty cents to support every dollar of federal spending, the failure to raise tax rates (or cut spending) does lead to additional deficit spending in the future.  Both Republicans and Democrats were quick to say that what they did this week was necessary because the economy is so weak, and in the end, the deal will help fix that.  Since both Republicans and Democrats routinely vote to increase spending and cut taxes when the economy is strong, the only common denominator is that in good times or bad, the deficit increases.

Republicans have been arguing that they have won the ideological battle over tax rates, since the Obama administration accepted in the end that it is a bad idea to raise tax rates in a weak economy and that lower tax rates are stimulative.  On the other hand, the Democrats won an ideological battle, too, since the Republicans have argued that the prior stimulus bill passed in February 2009 was an expensive failure (it was) but are now accepting that a new stimulus package is needed. 

 

The compromise reached this week will have about $300 billion in what could be called new stimulus out of the trillion in total cost over two years, all to be financed with new debt.  Extending tax rates and unemployment insurance already in place does not count as new stimulus.

 

Will that new stimulus money do the trick for the economy in the next year or two, when $862 billion did not do much the last two years? …”
 
 

Voters Put Spending Cuts Ahead of Deficit Reduction

“First things first. Despite official Washington’s increasing fixation on the federal budget deficit, most voters think cutting federal spending is a bigger priority.

A new Rasmussen Reports national telephone survey finds that 57% of Likely U.S. Voters think reducing federal government spending is more important than reducing the deficit. Thirty-four percent (34%) put reducing the deficit first.  (To see survey question wording, click here.)

It’s telling to note that while 65% of Mainstream voters believe cutting spending is more important, 72% of the Political Class say the primary emphasis should be on deficit reduction.

Most voters are still not convinced, even with a new Republican majority in the House, that Congress will actually cut government spending substantially over the next year.  GOP voters are among the most doubtful.

Sixty-nine percent (69%) of voters, in fact, are pessimistic about what Congress will accomplish in terms of government spending. …”

“…Seventy-four percent (74%) of Republicans and 50% of voters not affiliated with either of the major parties say cutting spending is more important than reducing the deficit. Democrats are more narrowly divided on the question.

Most conservatives and moderates say spending cuts should come first, but most liberals say deficit reduction is paramount.

Voters have consistently said in surveys for years that increased government spending hurts the economy, while decreased spending has a positive effect on the economy.  But they expect government spending to rise during the Obama years.

Americans overwhelmingly anticipate that the federal government will have to dramatically cut spending like France and Britain are doing now, and a sizable number suggest that even Social Security, Medicare and Medicaid may have to be on the cutting block. …”

http://www.rasmussenreports.com/public_content/business/federal_budget/december_2010/voters_put_spending_cuts_ahead_of_deficit_reduction

Who Pays Income Taxes and how much?

Tax Year 2008

Percentiles Ranked by AGI AGI Threshold on Percentiles Percentage of Federal Personal Income Tax Paid
Top 1% $380,354 38.02
Top 5% $159,619 58.72
Top 10% $113,799 69.94
Top 25% $67,280 86.34
Top 50% $33,048 97.30
Bottom 50% <$33,048 2.7
Note: AGI is Adjusted Gross Income
Source: Internal Revenue Service http://www.ntu.org/tax-basics/who-pays-income-taxes.html


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