B-Man
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Soak The Rich, Drown The Retirees
Obama’s Dividend Tax Proposal Depressingly Similar To Failed UK Tax Hike
As a dog returneth to his vomit, so a fool returneth to his folly.
– Proverbs 26:11
One of the first things new British Prime Minister David Cameron did in order to fix Great Britain’s recent economic problems was to tax the rich. He raised Great Britain’s top tax rate to 50% and his economists predicted that this would raise an extra billion pounds of revenue per year from the HATEFUL1%™. The Telegraph UK describes how this worked out below.
The Treasury received £10.35 billion in income tax payments from those paying by self-assessment last month, a drop of £509 million compared with January 2011. Most other taxes produced higher revenues over the same period. (My Bolding)….It is the first year following the introduction of the 50p rate which had been expected to boost tax revenues from self-assessment by more than £1billion.
{snip}
The Obama tax hike is specifically targeted towards individuals making $200 or more per year; $250K for married couples. Yet, the recent histories of dividend income totals suggest that it is highly sensitive to tax rates. The more dividends get taxed, the fewer corporations pay them out. The corporations return cash to shareholders through stock repurchases instead.
But “!So what?!” Harry Waxman would loudly ask. This just hits the HATEFUL1%™. It’s like that Buffet Tax that won’t quite buffet anybody named Warren. Actually, Nostrildamus, most dividend income goes to retires. According to the IRS, ¾ of that income goes to people older than age 55. And not only that, anything that reduces the overall value of equity as an asset class; also reduces the economic value of every share of stock held by the general public. This tax does for stock holdings what the recent MBS meltdown did for our housing values.
So never you mind that 51% of all Americans hold common stock personally, or through their retirement plan. Forget that the smart money would be selling this as fast as HFT algorithm could compile and execute. We’re all about taxing HATEFUL1%™. And if other people get hurt in the process, keep in mind the old, dark humor espoused by the Field Artilleryman concerning collateral damage from indirect fire: “(Bleep) ‘em if they can’t take a joke!”
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Hey, I'm a refugee...............................................lol
Americans' Satisfaction Almost as Low as It Was Under CarterBy Lauren Fox
February 21, 2012
It's February, nine months before a presidential election, and only 22 percent of Americans say they are satisfied with the way things are going. Voters haven't been this unhappy with the country since George H.W. Bush's presidency, when only 21 percent of Americans reported being happy with the country's direction. And before that, the lowest approval rating was 19 percent during Jimmy Carter's first term.
What do the two presidencies have in common? Neither of them won re-election. And, if the trends holds true, Obama looks to be in an equally precarious situation. [Read about the 10 Worst Presidents.]
The American Enterprise Institute for Public Policy Research released its 2012 campaign outlook, and it's clear Obama's sitting in the same position George H.W. Bush and Jimmy Carter were in during the February before their election losses—voters don't feel good about the country.
Bill Clinton, Ronald Reagan, and George W. Bush—presidents who won re-election—all had at least 41 percent of voters optimistic with the state of the union.
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Kind of undermines the entire phony Conservative argument on government and economics
The problem (of course) as the whole board realizes, Davey doesn't have the slightest idea what the actual views of conservatives are.
He is filled with misconceptions and cliches and seeks out those blogs that will re-inforce his biases, rather than challenge himself.
His posts are very illustrative as to how a lazy mind operates.
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I don't think that's much of a joke. Kerry really was one of the shittiest candidates put up for election in recent memory. It would be like if Bachman somehow won the primary for the GOP this year.
Then you probably share a lot of people's concern that Sen. Kerry is the leading candidate for the Secretary of State position in a second Obama administration ?
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That’s what’s wrong with this country: You want to get rich, go to Washington. Admittedly, most private businesses in this country were still reeling from the rough economic times when the 2010 census was taken.
But what does it say when government work (and its satellite professions — lobbying, law, consulting, etc.) is a highly lucrative growth industry that is recession-proof as well?
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Yes, economic recovery has been in the news all week. The president has modestly credited his own policies as the cause. And a media intent on his reelection and with no real grasp of economic data has embraced the Recovery February storyline.
And yes, the S&P is back close to its level of April a year ago, though that is still 13% below its decade peak in October 2007. But can you take the recovery talking and “Happy Days Are Here Again” singing to the bank?
Buyer beware. Here is some of the unsettling data.
Jobs? Yes, up. The raw number of jobs has been rising despite occasional blips for most of the last two years. But the rise has not kept pace with the growth in the workforce, which means mainly the pace at which young people are coming of age. The labor force participation rate – the percent of the adult population with jobs -- is down to around 63 percent, considerably below the 66 percent of early 2008and the trend is down, not up.
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I'm so surprised by this because, y'know, up until this point, OWS has been clean and organized.
That doesn't stop the "indoctrination efforts by the media.....................................lol
Occupy Wall Street earned a shout-out Sunday night on a CBS drama, the kind of Hollywood affirmation the Tea Party could never dream of receiving. “Before we begin,” a judge announced in a Chicago courtroom on The Good Wife, “I want to take a few minutes to talk about something that is happening a mere one hundred yards from this courthouse: Occupy Wall Street!”“Judge Charles Abernathy,” played by Denis O’Hare, continued to pay tribute to the leftist cause celebre: “Yes, these amazing young men and women are braving 36-degree weather, with the grit in their eyes of a shared cause, and all to challenge the system. And I, for one, I salute them.”
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But the far more likely sequence is that Romney will in fact be the nominee and a strong one, just as the Chicago gang fears.
The emerging consensus is the obvious one: Romney will win Michigan and Arizona, and go on to a strong Super Tuesday showing and the nomination. MSM plus a few anti-Romneys among the conservative media can try and drive a message of impending doom, but it just isn't there, and Romney overtaking Santorum in Michigan will be, like the victory in Florida, the latest and the last of the Romney of the MSM-generated "tests" of the likely GOP nominee. The Kos Kids and the UAW will try and bleed Romney by voting for Santorum in Michigan's "open" primary, but the GOP base knows much more than the MSM gives it credit for and knows the Chicago gang and its allies are trying to bleed their strongest general election nominee. Many will vote for Rick Santorum on principle, but the idea that Romney is fatally wounded by a loss in Michigan is just as absurd as some from-the-sidelines "new" candidate emerging.
The latest PPP poll shows the race in Michigan moving towards Romney, and the only reason I cite a PPP poll is because the last PPP poll showed a large lead for Santorum. (Santorum was allegedly ahead by 15 points last week and by 4 now. Right.) The MSM cannot help itself and is systematically defining the former Pennsylvania senator as outside of the American mainstream by latching on to bits of his speeches or a single Q-and-A, such as his comments on prenatal testing, and turning them into entire news cycle, often distorting the key messages on the economy Santorum is delivering along the way. The left's desire to wound Romney with a Santorum win in Michigan has been undermined by the left's inability to let any discussion of abortion, religious liberty, contraception or genetic testing emerge that challenges the world view of the pro-choice absolutists.
{snip}
The debate Wednesday night should be about Iran, Israel and the carnage in Syria, but expect it to be back on contraception to at least some extent. Incredibly, it will be the third time that John King moderates a GOP nominees' debate, which is in itself absurd. King is a smart, affable professional, but does anyone think that he ought to have played such a key role in shaping the GOP primary season? We have ended up talking about contraception and not the massive time-bomb of debt, the acceptance of 8% unemployment, and the looming crisis in the Middle East because the MSM shaped the contest to date. After Super Tuesday, the party and its candidates are going to have to organize a refusal to allow the Manhattan-Beltway media elite to define the campaign and defend the president by doing so.
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I think it's fair to say that no one knows how fractured the GOP is or will be until after the election. That's why I refer to "ruining the narrative," because from Robert Gibbs ("race to the bottom") to David Axelrod to Wasserman-Shultz to parrots like you and DIN, we get the message: the GOP is fractured, in disarray, it's never been this bad, brokered convention, blah, blah, blah.
This is correct.
These repetitive declarations of how badly the GOP is fractured, seem to forget that it is still February, not post-convention.
Nor do they draw any relevant comparisons, such as the GOP campaigns of 1980 or 2000 at this point
(Those which are most recently following Dem administrations) for those who need perspective.......lol
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That wasn't near as contentious as this has been. You had two candidates in a heated battle, to be sure, but it wasn't anywher as nasty as this has been. thin
Clinton was the front runner for most of the primary, until Obama came along, later. You didn't have a different front runner every few weeks, and candidates weren't spending millions upon millions of dollars to rip candidates in their own party. Gingrich, for all the blather about how "smart" he was, may have done more damage to his party than anyone.
You really think Clinton vs Obama was as nasty as this has been? Not even close.
Not even close? really?...I think that you are conveniently forgetting a few things.
The Obama campaign accused former president Bill Clinton of making "racist" remarks
Clinton's famous 3:00 am phone call ad was certainly as harsh as anything that the GOP has done this year.
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Sorry, but the zealots aren't making laws, no matter how much they desire power.
Sorry. but that is a non-response.........................................................lets review.
drinkthekoolaid posted "Obama cannot force the church into a position which is fundamentalaly incompatible with their core doctrine by mandating birth control services."
You responded with a completely silly strawman about the church and the minimum wage, which was about 360 degrees of the mark of the Government forcing their views on the church (not the other way around) fortunately the US Constitution prohibits this madness.
Now you try and change the whole argument ..................with extra large letters to boot.................lol
Weak.
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What did GDP average under the Republican, tax cutting Bush? Do you know?
At least he isn't saying all recessions will end in 2 years unless a Democrat is in office, you twit
One can always depend on little Davey to misrepresent what has occurred, he is proof that a sharp tongue does not mean you have a keen mind.
Some advice Davey while you're working on your next vacuous response, please don't let your mind wander, it's far too small to be let out on its own.
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What if the church thinks they should be allowed to pay less than minimum wage?
C'mon Adam. Its obvious that you love the middle of the road, but are you kidding with that false argument ?
Let me know when the Church has been teaching about "low wages" for over two thousand years and then we can talk........Jeez.
Its not a "birth control" issue..........................its a control issue.
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That's one great big massive load of ignorant horseshit.
Repetitive horseshit at that
One can only assume that he is attention seeking now.
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Gas prices are up = it's Obama's fault
The US is slowly recovering from a financial nose dive = it's Obama's fault.
An unseasonably warm winter = it's Obama's fault
Revolts in the Middle East = it's Obama's fault
A morman, a gnewt and a santorum... = it's Obama's fault
(I thought Republicans were all supposed to be good christians.)
Osama is dead = it's Obama's fault
The Iraq war is over = it's Obama's fault
Your use of exaggeration to try and make a point falls hopelessly flat
There are many things that are due to this president's poor management skills....there are many that are not.
People will continue to point out the things that are.
You do give yourself , and your mindset, away with your......"I thought all Republicans were supposed to be good Christians"
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Hoover was president for over 3 years of the Depression, that goes way over the limit of what B says these things should last.
And the depression of the 1890s saw well over six years of unemployment at higher than 8%
http://eh.net/encyclopedia/article/whitten.panic.1893
Also, are you suggesting e should go on a WW2 level of stimulus spending spree?
I know its a waste of time, but what the hell, I've got a few to waste.....lol
I'll use small sentences for you.
You gave examples of 2 Depressions
We, were in a Recession...........psssst, they're not the same thing.
Our latest Recession ended (per U.S. Government stats) in June of 2009.
There are many historical references that show how long it takes for us to recover from a recession , we are now in a prolonged recovery.
The current administration's economic efforts have had little effect, and perhaps even lengthened our return.
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Without looking it up...what were some of November's economic numbers?
I'm sorry, I am not sure.............are you referring to last November? or the November of the last election?
Unemployment has risen from around 5.8% in Nov. 2008, nand likewise fallen from around 9% last November.
I don't have the stats, but the most important number, and therefore the most ignored by the media, is that the actual number of working Americans has fallen to around 63%, lowest in 30 years.
How long did the Great Depression last?
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The American public has, at best, a three-month memory. The only economic numbers that will matter will be the ones from August to October.
That is the common misconception Tom, but I respectfully disagree with you.
Certainly the 3 months you mentioned will be very important, but there are millions of people out there whose lives have been (shall we say) made worse by government policies since 2008 and they have loooooooonnng memories.
Mr Obama ran on the anti-Bush sentiment before, he has no such luxury this time.
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Ignorance! The Bush financial crash was much deeper and more severe than any "recession" we have experienced since the 1930's. Housing prices would not have recovered any faster if we went free market wild after 2008, no way. This is taking longer because it was so much more severe
You are incorrect.
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Remember though. This isn't real. It's all just a conspiracy by the MSM to make Obama look better If we were to take the number of people who did file for unemployment, divide it by the Number of jobs lost + loss of GDP - Romney's IQ and carry the 4 you'll find out that more people left the work force this past month so the fact that the economy produced more jobs is bunk.
Ha ha! You forgot the government has fixed the numbers
It should also be noted that Government, I mean General Motors, had a record profitable year and their stock shot up eight percent today. All lies, of course, but there it is
You forgot the most commonly used shallow response.
Everything bad that has occurred over the past three years is due to President Bush and not President Obama.
Therefore when the unemployment figures and other economic indicators all went south even after the great "stimulus" mirage, that was because of the previous administration
When the U.S. economy remained stagnant over the next two years (Even though the regular recovery cycle after a recession had come and passed)it was because Mr. Obama hadn't truly realized how bad President Bush had left it.
Now, almost two years passed when our recovery should have began, we are finally (and obliviously to the liberals),inevitably starting an anemic growth period.
This is a testament to the (hamstrung) U.S. capitalistic engine................we can always come back
I can only pray that the Obama campaign (along with its willing media)delude themselves and try and run on his economic record.
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You can modernize and reduce. See manufacturing.
Except thats not what he said;
President Obama promised Thursday to spend $80 billion over 10 years to maintain and modernize the nation’s nuclear arsenal, a commitment that could help win Republican support for his new arms control treaty with Russia.You do not "maintain" your nuclear arsenal by reducing it 80%, certainly some reduction is necessary, but you cannot spin away the conflicting proposals here.
It doesn't really matter what he said anyway, it was all BS just to try and buy Senate votes.
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You see, I'm an idea man. I get ideas all day long. I can't control 'em.[/i]
Night Shift reference ?..........................nice.
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:
The Obama administration is weighing options for sharp new cuts to the U.S. nuclear force, including a reduction of up to 80 percent in the number of deployed weapons, The Associated Press has learned.
Back to the original post, it appears our President may have been lying (?) back in May 2010, per the NYTimes
Obama Expands Modernization of Nuclear ArsenalBy PETER BAKER
Published: May 13, 2010
WASHINGTON President Obama promised Thursday to spend $80 billion over 10 years to maintain and modernize the nations nuclear arsenal, a commitment that could help win Republican support for his new arms control treaty with Russia.
The plan expands a previous proposal by Mr. Obama to upgrade nuclear infrastructure and was sent to the Senate along with the treaty and accompanying protocol and annexes. Mr. Obama called President Dmitri A. Medvedev of Russia as he kicked off his campaign to win Senate consent for the treaty.
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.The Kerry Kickback:Senator Secures $3.5 Billion Windfall for Massachusetts HospitalsBY: Andrew Stiles - February 15, 2012
Massachusetts hospitals are poised to receive a $3.5 billion windfall in federal funding over the next 10 years thanks to a little-known provision Sen. John Kerry (D-Mass.) inserted into the Affordable Care and Patient Protection Act, also known as “Obamacare.”
The increased funding—$367 million a year in the form of Medicare reimbursement payments, according to the Federal Register—would not only come at the expense of hospitals in the 49 other states, but would also directly benefit an organization that has given generously to Kerry’s campaign.
The obscure policy change was formally approved by the Center for Medicare and Medicaid Services (CMS) in July 2011. It was prompted by a small, 15-bed hospital located on the upscale island of Nantucket, a popular vacation spot for wealthy New Englanders where Kerry and his wife own a $9 million waterfront home.
Nantucket Cottage Hospital, which had been operating under a special “critical access” status, sought a number of years ago to be reclassified as a “rural” hospital. The CMS approved the change for fiscal year 2012—a minor adjustment on paper, but one with profound implications.
The Balanced Budget Act of 1997 established a “rural floor” for hospital labor costs (which are used to determine reimbursement rates) mandating that hospitals in urban areas within a given state cannot be paid less than those in rural areas.
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The company, through its board members and top executives, has given generously the Kerry and other Democrats over the years. Since 2007, Partner’s employees have contributed more than $26,000 to the senator’s campaign, and are collectively his 16th biggest donor over the current cycle.
President and CEO Dr. Gary Gottlieb has given more than $45,000 to Democratic candidates and committees since 2007, including $5,300 to Kerry, according to a database maintained by the Center for Responsive Politics. Partners board chairman Jack Connors Jr. has given more than $42,000 to Democrats during that same period.
Members of the group’s board have given generously, and almost exclusively, to Democrats, including tens of thousands to Kerry. Four Partners board members in particular—Anne Finucane, Charles Gifford, Edward Lawrence, and Dorothy Terrell—have collectively contributed more than $200,000 to Democrats since 2007 and nearly $15,000 to Kerry.
Copp declined to say whether this flow of money was indicative of corporate-political cronyism at work. “Those are personal donations, and I cannot speak to them,” he told the Washington Free Beacon in an email.
Partners also maintains an active presence in Washington, D.C., having spent approximately $4.4 million on lobbying since 2008.
The new policy has drawn the ire of hospital associations in other states, which recently petitioned the White House to overturn to the change in policy. “If I could think of a better word than outrageous, I would come up with it,” Steve Brenton, president of the Wisconsin Hospital Association, told the Associated Press in response to the new rule. Herb Kuhn, president of the Missouri Hospital Association, said the Massachusetts windfall was an example of “how to manipulate the payment system.”
Because the amendment required that such payment adjustments be budget neutral at the federal level—meaning all increases for one state must be offset with reductions elsewhere—hospitals in the 49 other states will collectively lose about $367 million in annual Medicare payments to offset the additional funding for Massachusetts.
“This … provision permitted the Commonwealth of Massachusetts to manipulate the federal Medicare program, reaping an estimated $367 million annually from the other 49 states—unfairly favoring one state’s hospitals and Medicare beneficiaries to the detriment of others,” a coalition of 19 state hospital associations wrote in a Jan. 18, 2012 letter to President Obama. “Scarce Medicare funding should reward value and efficiency in health care, not be diverted based on artful manipulation of obscure payment formulas.”
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CMS actually passed a rule in 2009 explicitly designed to prevent any one state from exploiting the system to their benefit, by making reimbursement adjustment budget neutral at the state rather than federal level. The Kerry-sponsored amendment, however, overturned the rule
Some animals are more equal than others.
I'm remembering the righteous indignation they laid on anyone who questioned this bill.
This was about taking care of the working poor. This was about covering the uninsured and people with pre existing conditions. This was because we are a great nation and great nations pass legislation like this. Premiums were going to go down. The deficit would go down. Seas would calm. Sweet breezes will blow......................................
Meanwhile back in the real world we were dealing with the realization that people were getting fired and laid off in shocking numbers.
Kerry and friends were taking care of their more equal buddies.
Pelosi was parading across the grounds with a polo mallet.
Then you flip to the stimulus mess. How many green companies we funded are belly up now? Every week we discover another political contributer associated with recieving federal "stimulus money"...........after all; its the Chicago way.
By the way, to be really petty , if you click on the link and check out Sen. Kerry's picture..........it sure seems that his recent "ice hockey accident" removes bags under one's eyes........................... Who knew?
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Not "redundancy." Deterrence.
Christ...forget real sources. Has anyone on this board even read Tom Clancy???
Yep, read 'em all. I particuarly like Rainbow Six novel....................................It goes without sayinh that you are referring to the novels, not the movies and video games.
Hey, it just occurred to me.......Tom Clancy.................DC Tom.....................hmmmmmm.
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Half a BILLION down the drain
in Politics, Polls, and Pundits
Posted
What is 465 million (wasted ) dollars, Alex ?
Now could I have Corporate Corruption in 2012 for $ 1,000 ?
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