Should there be a 90% tax on the net profits of the oil and military companies for the next 8 years?
No - 54%, Yes - 45% (6-5)
For those who voted yes, please explain why and what you think would happen after the tax was imposed.
Saturday, October 4, 2008
How much do we spend on Afghanistan?
Biden said "Look, we have spent more money -- we spend more money in three weeks on combat in Iraq than we've spent on the entirety of the last seven years that we have been in Afghanistan building that country. Let me say it again. Three weeks in Iraq; seven years -- seven years, or six and a half years, in Afghanistan."
In 2008, we that would be $9B for 3 weeks in Iraq, yet, the total for Afghanistan is $172B (versus $635B total for Iraq during the same period).
Of course, Biden is comparing apples and oranges, trying to imply that the war in Afghanistan isn't being taken seriously. The $172B is the U.S. total, which does not include the support of NATO allies (which is a greater percentage of costs than in Iraq).
report
In 2008, we that would be $9B for 3 weeks in Iraq, yet, the total for Afghanistan is $172B (versus $635B total for Iraq during the same period).
Of course, Biden is comparing apples and oranges, trying to imply that the war in Afghanistan isn't being taken seriously. The $172B is the U.S. total, which does not include the support of NATO allies (which is a greater percentage of costs than in Iraq).
report
John Fund on Voter Fraud
Democracy Imperiled A good article.
"Wisconsin officials convicted a New York heiress working for Al Gore of giving homeless people cigarettes if they rode in a van to the polls and voted"
"The Miami Herald won a Pulitzer Prize in 1999 for uncovering how "vote brokers" employed by candidate Xavier Suarez stole a mayoral election by tampering with 4,740 absentee ballots. Many were cast by homeless people who didn't live in the city and were paid $10 apiece and shuttled to the elections office in vans. All of the absentee ballots were thrown out by a court four months later and Mr. Suarez's opponent was installed as mayor."
"Wisconsin officials convicted a New York heiress working for Al Gore of giving homeless people cigarettes if they rode in a van to the polls and voted"
"The Miami Herald won a Pulitzer Prize in 1999 for uncovering how "vote brokers" employed by candidate Xavier Suarez stole a mayoral election by tampering with 4,740 absentee ballots. Many were cast by homeless people who didn't live in the city and were paid $10 apiece and shuttled to the elections office in vans. All of the absentee ballots were thrown out by a court four months later and Mr. Suarez's opponent was installed as mayor."
More Factual errors from the Debate
Biden on Hezbollah
Joe Biden misspoke when he claimed that the United States and France had "kicked Hezbollah out of Lebanon."
Biden's favorite restaurant
In an attempt to burnish his Main Street credentials, Biden invited voters to walk with him down Union Street in Wilmington, and visit "Katie's restaurant." According to Wilmington food guru Patricia Talorico, the much-loved Wilmington institution shuttered its doors in the 1980s and has now been replaced by a chain.
link
Joe Biden misspoke when he claimed that the United States and France had "kicked Hezbollah out of Lebanon."
Biden's favorite restaurant
In an attempt to burnish his Main Street credentials, Biden invited voters to walk with him down Union Street in Wilmington, and visit "Katie's restaurant." According to Wilmington food guru Patricia Talorico, the much-loved Wilmington institution shuttered its doors in the 1980s and has now been replaced by a chain.
link
Friday, October 3, 2008
Karl Rove on Taxes
The Tax Issue Still Resonates A good article.
"One reason offered for the alleged decline of tax cuts as a potent issue is that since 2000, tax cuts have taken 13 million filers off of the income tax rolls. Today, one-third of all filers have no federal income tax liability and nearly 40% of all federal income taxes are now paid by the top 1% of taxpayers (60% by the top 5%). The fewer people who are paying taxes, the fewer people who care about tax cuts, or so goes the reasoning."
"While Mr. Obama claims his tax increases will pay for "tax cuts," much of his increases are actually earmarked for a massive new spending program that will send tax "rebate" checks to 45.6 million filers who have no income tax liability. These filers will get a check of up to $500 a person or $1,000 a couple even though they do not pay federal income taxes."
"Mr. Obama wants to raise the top marginal rate by nearly a fifth to about 40%. With Medicare taxes and his proposed increases in Social Security taxes on the wealthy added in, this would result in over 50 cents out of every additional $1 earned in the top income brackets going to government"
"One reason offered for the alleged decline of tax cuts as a potent issue is that since 2000, tax cuts have taken 13 million filers off of the income tax rolls. Today, one-third of all filers have no federal income tax liability and nearly 40% of all federal income taxes are now paid by the top 1% of taxpayers (60% by the top 5%). The fewer people who are paying taxes, the fewer people who care about tax cuts, or so goes the reasoning."
"While Mr. Obama claims his tax increases will pay for "tax cuts," much of his increases are actually earmarked for a massive new spending program that will send tax "rebate" checks to 45.6 million filers who have no income tax liability. These filers will get a check of up to $500 a person or $1,000 a couple even though they do not pay federal income taxes."
"Mr. Obama wants to raise the top marginal rate by nearly a fifth to about 40%. With Medicare taxes and his proposed increases in Social Security taxes on the wealthy added in, this would result in over 50 cents out of every additional $1 earned in the top income brackets going to government"
Energy - Wind Farm - Good News
New Jersey Grants Rights to Build a Wind Farm About 20 Miles Offshore
"Regulators in New Jersey awarded the rights on Friday for construction of a $1 billion offshore wind farm in the southern part of the state to Garden State Offshore Energy"
"The proposal by Garden State Offshore Energy includes the installation of 96 turbines to produce as much as 346 megawatts of electricity, enough to power tens of thousands of houses, starting in 2013."
"Regulators in New Jersey awarded the rights on Friday for construction of a $1 billion offshore wind farm in the southern part of the state to Garden State Offshore Energy"
"The proposal by Garden State Offshore Energy includes the installation of 96 turbines to produce as much as 346 megawatts of electricity, enough to power tens of thousands of houses, starting in 2013."
Fact Check - Biden Palin Misstatements
Biden's Misstatements:
(1) Article one of the Constitution deals with the Legislative branch, not the Executive Branch.
Section 3:"The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided."
(2) Biden said McCain voted “the exact same way” as Obama to increase taxes on Americans (singles) earning just $42,000, but McCain did not. "Biden was referring to an amendment that didn't address taxes at that income level."
(3) Biden said that Obama never said that he would sit down unconditionally with Mahmoud Ahmedinijad of Iran. Obama did say specifically, and Biden attacked him for it.
(4) Biden has opposed offshore drilling and even compared offshore drilling to “raping” the Outer Continental Shelf.”
(5) Biden indicated that John McCain and Barack Obama voted the same way against funding the troops in the field. McCain opposed a bill that included a timeline, that the President of the United States had already said he would veto regardless of it’s passage. When the final vote for funding came, Obama voted against it.
(6) Biden says he’s always been for clean coal, but he just told a voter that he is against clean coal and any new coal plants in America and has a record of voting against clean coal and coal in the U.S. Senate.
(7) Biden mischaracterized McCain's health insurance proposal. McCain will raise taxes on people's health insurance coverage but they get a tax credit to offset any tax hike. Those without company supplied health insurance can use the tax credit to purchase insurance. At 40% marginal tax rate, your company plan would have to be over $12,000 to be a net negative.
(8) Biden falsely said Palin supported a windfall profits tax in Alaska -- she reformed the state tax and revenue system, it's not a windfall profits tax.
(9) Biden said that top military commander in Iraq said the principles of the surge could not be applied to Afghanistan, but the commander of NATO's International Security Assistance Force Gen. David D. McKiernan said that there were principles of the surge strategy, including working with tribes, that could be applied in Afghanistan.
(10) Biden falsely said McCain weakened regulation -- he actually called for more regulation on Fannie and Freddie. McCain call for deregulation in health insurance was a call to allow insurance to be sold across state lines for greater competition.
(11) Biden is wrong in saying that under Obama, Americans won't pay any more in taxes then they did under Reagan. Reagan had a top tax rate of 28%.
(12) Biden said the economic rescue legislation matches the four principles that Obama laid out, but in reality it doesn’t meet two of the four principles that Obama outlined on Sept. 19, which were that it include an emergency economic stimulus package, and that it be part of “part of a globally coordinated effort with our partners in the G-20.”
(13) Biden said Americans earning less than $250,000 wouldn’t see higher taxes, but the Obama-Biden tax plan would raise taxes on individuals making $200,000 or more.
(14) Biden wrongly claimed that McCain had said "he wouldn't even sit down" with the government of Spain. Actually, McCain didn't reject a meeting, but simply refused to commit himself one way or the other during an interview.
link
Palin mistatements:
(1) Palin mistakenly claimed that troop levels in Iraq had returned to “pre-surge” levels. Levels are gradually coming down but current plans would have levels higher than pre-surge numbers through early next year, at least
"The surge was announced in January 2007, at which point there were 132,000 troops in Iraq, according to the Brookings Institute Iraq Index. As of September 2008, that number was 146,000. President Bush recently announced that another 8,000 would be coming home by February of next year. But even then, there still would be 6,000 more troops in Iraq than there were when the surge began."
(2) Palin repeated a false claim that Obama once voted in favor of higher taxes on “families” making as little as $42,000 a year. He did not. The budget bill in question called for an increase only on singles making that amount, but a family of four would not have been affected unless they made at least $90,000 a year.
(3) Palin claimed McCain’s health care plan would be “budget neutral,” costing the government nothing. Independent budget experts estimate McCain's plan would cost tens of billions each year, though details are too fuzzy to allow for exact estimates.
(4) Palin wrongly claimed that “millions of small businesses” would see tax increases under Obama’s tax proposals. At most, several hundred thousand business owners would see increases.
(1) Article one of the Constitution deals with the Legislative branch, not the Executive Branch.
Section 3:"The Vice President of the United States shall be President of the Senate, but shall have no Vote, unless they be equally divided."
(2) Biden said McCain voted “the exact same way” as Obama to increase taxes on Americans (singles) earning just $42,000, but McCain did not. "Biden was referring to an amendment that didn't address taxes at that income level."
(3) Biden said that Obama never said that he would sit down unconditionally with Mahmoud Ahmedinijad of Iran. Obama did say specifically, and Biden attacked him for it.
(4) Biden has opposed offshore drilling and even compared offshore drilling to “raping” the Outer Continental Shelf.”
(5) Biden indicated that John McCain and Barack Obama voted the same way against funding the troops in the field. McCain opposed a bill that included a timeline, that the President of the United States had already said he would veto regardless of it’s passage. When the final vote for funding came, Obama voted against it.
(6) Biden says he’s always been for clean coal, but he just told a voter that he is against clean coal and any new coal plants in America and has a record of voting against clean coal and coal in the U.S. Senate.
(7) Biden mischaracterized McCain's health insurance proposal. McCain will raise taxes on people's health insurance coverage but they get a tax credit to offset any tax hike. Those without company supplied health insurance can use the tax credit to purchase insurance. At 40% marginal tax rate, your company plan would have to be over $12,000 to be a net negative.
(8) Biden falsely said Palin supported a windfall profits tax in Alaska -- she reformed the state tax and revenue system, it's not a windfall profits tax.
(9) Biden said that top military commander in Iraq said the principles of the surge could not be applied to Afghanistan, but the commander of NATO's International Security Assistance Force Gen. David D. McKiernan said that there were principles of the surge strategy, including working with tribes, that could be applied in Afghanistan.
(10) Biden falsely said McCain weakened regulation -- he actually called for more regulation on Fannie and Freddie. McCain call for deregulation in health insurance was a call to allow insurance to be sold across state lines for greater competition.
(11) Biden is wrong in saying that under Obama, Americans won't pay any more in taxes then they did under Reagan. Reagan had a top tax rate of 28%.
(12) Biden said the economic rescue legislation matches the four principles that Obama laid out, but in reality it doesn’t meet two of the four principles that Obama outlined on Sept. 19, which were that it include an emergency economic stimulus package, and that it be part of “part of a globally coordinated effort with our partners in the G-20.”
(13) Biden said Americans earning less than $250,000 wouldn’t see higher taxes, but the Obama-Biden tax plan would raise taxes on individuals making $200,000 or more.
(14) Biden wrongly claimed that McCain had said "he wouldn't even sit down" with the government of Spain. Actually, McCain didn't reject a meeting, but simply refused to commit himself one way or the other during an interview.
link
Palin mistatements:
(1) Palin mistakenly claimed that troop levels in Iraq had returned to “pre-surge” levels. Levels are gradually coming down but current plans would have levels higher than pre-surge numbers through early next year, at least
"The surge was announced in January 2007, at which point there were 132,000 troops in Iraq, according to the Brookings Institute Iraq Index. As of September 2008, that number was 146,000. President Bush recently announced that another 8,000 would be coming home by February of next year. But even then, there still would be 6,000 more troops in Iraq than there were when the surge began."
(2) Palin repeated a false claim that Obama once voted in favor of higher taxes on “families” making as little as $42,000 a year. He did not. The budget bill in question called for an increase only on singles making that amount, but a family of four would not have been affected unless they made at least $90,000 a year.
(3) Palin claimed McCain’s health care plan would be “budget neutral,” costing the government nothing. Independent budget experts estimate McCain's plan would cost tens of billions each year, though details are too fuzzy to allow for exact estimates.
(4) Palin wrongly claimed that “millions of small businesses” would see tax increases under Obama’s tax proposals. At most, several hundred thousand business owners would see increases.
Thursday, October 2, 2008
Open Forum - Palin Biden Debate
My impression is that Palin won. Liberals will not be swayed, but undecideds might. Palin performance was great compared to her recent appearance with Katie Couric.
Media Bias - Katie Couric ?
link
"Here is Couric's full response to Biden's bizarre outburst about FDR (a) being president and (b) going on TV in 1929: "Relating to the fears of the average American is one of Biden's strong suits.""
"But when our beauteous Sarah said that John McCain was a better leader on the economy than Barack Obama, Couric relentlessly badgered her for evidence. "Why do you say that?" Couric demanded. "Why are they waiting for John McCain and not Barack Obama? ... Can you give us any more examples of his leading the charge for more oversight?""
"The beauteous Sarah had cited McCain's prescient warnings about Fannie Mae and Freddie Mac. But Couric, the crackerjack journalist who didn't know FDR wasn't president in 1929, demanded more examples from Palin."
"Here is Couric's full response to Biden's bizarre outburst about FDR (a) being president and (b) going on TV in 1929: "Relating to the fears of the average American is one of Biden's strong suits.""
"But when our beauteous Sarah said that John McCain was a better leader on the economy than Barack Obama, Couric relentlessly badgered her for evidence. "Why do you say that?" Couric demanded. "Why are they waiting for John McCain and not Barack Obama? ... Can you give us any more examples of his leading the charge for more oversight?""
"The beauteous Sarah had cited McCain's prescient warnings about Fannie Mae and Freddie Mac. But Couric, the crackerjack journalist who didn't know FDR wasn't president in 1929, demanded more examples from Palin."
Open Question: Is Obama ready?
Hillary Clinton and Biden both said Obama was not ready to be President during the primaries. Since their statements, what has Obama done to show he is now ready?
Acts 2:38
A woman went into her kitchen to find a burglar loaded down with a bunch of stuff he was stealing from her kitchen. Not having any kind of weapon to scare him off, she raised her hand and said "Acts 2:38," and proceeded to quote scripture.
The burglar froze in place and didn't move. The woman called 911, the police arrived and were amazed to find the burglar still frozen where he stood.
"What did you say to him that kept him from moving?" they asked the woman.
She told them that she had simply said Acts 2:38 and quoted scripture.
The police chuckled and escorted the burglar out to the patrol car. "Why did the woman's quoting scripture scare you so much?" they asked.
"Scripture?" said the burglar, "I thought she said she had an ax and two 38's!"
-------
38Peter replied, "Repent and be baptized, every one of you, in the name of Jesus Christ for the forgiveness of your sins. And you will receive the gift of the Holy Spirit.
The burglar froze in place and didn't move. The woman called 911, the police arrived and were amazed to find the burglar still frozen where he stood.
"What did you say to him that kept him from moving?" they asked the woman.
She told them that she had simply said Acts 2:38 and quoted scripture.
The police chuckled and escorted the burglar out to the patrol car. "Why did the woman's quoting scripture scare you so much?" they asked.
"Scripture?" said the burglar, "I thought she said she had an ax and two 38's!"
-------
38Peter replied, "Repent and be baptized, every one of you, in the name of Jesus Christ for the forgiveness of your sins. And you will receive the gift of the Holy Spirit.
Test for Dementia
from a friend:
Below are four (4) questions and a bonus question. You have to answer them instantly. You can't take your time, answer all of them immediately. OK?
Roll up slowly for answers.
Let's find out just how clever you really are.
First Question:
You are participating in a race. You overtake the second person. What position are you in?
Answer: If you answered that you are first, then you are absolutely wrong!
If you overtake the second person and you take his place, you are second!
Try not to screw up next time.
Now answer the second question, but don't take as much time as you took for the first question, OK?
Second Question:
If you overtake the last person, then you are?
Answer: If you answered that you are second to last, then you are wrong again.
Tell me, how can you overtake the LAST Person?
You're not very good at this, are you?
Third Question:
Very tricky arithmetic!
Note: This must be done in your head only.
Do NOT use paper and pencil or a calculator. Try it.
Take 1000 and add 40 to it.
Now add another 1000.
Now add 30.
Add another 1000.
Now add 20.
Now add another 1000
Now add 10.
What is the total?
Did you get 5000?
The correct answer is actually 4100.
If you don't believe it, check it with a calculator!
Today is definitely not your day, is it?
Maybe you'll get the last question correct.
Maybe?
Fourth Question:
Mary's father has five daughters,
1. Nana, 2. Nene, 3. Nini, 4. Nono.
What is the name of the fifth daughter?
Did you Answer Nunu?
Wrong Again!
Of course it isn't.
Her name is Mary.
Read the question again!
Okay, now the bonus round:
A mute person goes into a shop and wants to buy a toothbrush.
By imitating the action of brushing his teeth he successfully expresses himself to the shopkeeper and the purchase is done.
Next, a blind man comes into the shop who wants to buy a pair of sunglasses. How does HE indicate what he wants?
He just has to open his mouth and ask.
It's really very simple.
How many did you get right?
Below are four (4) questions and a bonus question. You have to answer them instantly. You can't take your time, answer all of them immediately. OK?
Roll up slowly for answers.
Let's find out just how clever you really are.
First Question:
You are participating in a race. You overtake the second person. What position are you in?
Answer: If you answered that you are first, then you are absolutely wrong!
If you overtake the second person and you take his place, you are second!
Try not to screw up next time.
Now answer the second question, but don't take as much time as you took for the first question, OK?
Second Question:
If you overtake the last person, then you are?
Answer: If you answered that you are second to last, then you are wrong again.
Tell me, how can you overtake the LAST Person?
You're not very good at this, are you?
Third Question:
Very tricky arithmetic!
Note: This must be done in your head only.
Do NOT use paper and pencil or a calculator. Try it.
Take 1000 and add 40 to it.
Now add another 1000.
Now add 30.
Add another 1000.
Now add 20.
Now add another 1000
Now add 10.
What is the total?
Did you get 5000?
The correct answer is actually 4100.
If you don't believe it, check it with a calculator!
Today is definitely not your day, is it?
Maybe you'll get the last question correct.
Maybe?
Fourth Question:
Mary's father has five daughters,
1. Nana, 2. Nene, 3. Nini, 4. Nono.
What is the name of the fifth daughter?
Did you Answer Nunu?
Wrong Again!
Of course it isn't.
Her name is Mary.
Read the question again!
Okay, now the bonus round:
A mute person goes into a shop and wants to buy a toothbrush.
By imitating the action of brushing his teeth he successfully expresses himself to the shopkeeper and the purchase is done.
Next, a blind man comes into the shop who wants to buy a pair of sunglasses. How does HE indicate what he wants?
He just has to open his mouth and ask.
It's really very simple.
How many did you get right?
New bailout Proposal
New Bailout Proposal
Take a look at this bill and you can understand why no one reads them.
an example
"(a) Extension.—Paragraph (1) of section 179C(c) (relating to qualified refinery property) is amended—
(1) by striking “January 1, 2012” in subparagraph (B) and inserting “January 1, 2014”, and"
There may be thousands of such refrences where they strike and insert.
Or
“(C) $150 in the case of a residential or commercial clothes washer manufactured in calendar year 2008, 2009, or 2010 which meets or exceeds 2.0 modified energy factor and does not exceed a 6.0 water consumption factor, and"
You may have to search possiblly hunderds of laws to find the full impact of the changes.
Take a look at this bill and you can understand why no one reads them.
an example
"(a) Extension.—Paragraph (1) of section 179C(c) (relating to qualified refinery property) is amended—
(1) by striking “January 1, 2012” in subparagraph (B) and inserting “January 1, 2014”, and"
There may be thousands of such refrences where they strike and insert.
Or
“(C) $150 in the case of a residential or commercial clothes washer manufactured in calendar year 2008, 2009, or 2010 which meets or exceeds 2.0 modified energy factor and does not exceed a 6.0 water consumption factor, and"
You may have to search possiblly hunderds of laws to find the full impact of the changes.
Poll Results - First Debate
Should the debates be delayed so Obama and McCain can work on the bailout plan?
No- 72%, Yes -18%, No Opinion 9% (8-2-1)
Who won the debate?
Obama 55%, McCain 22%, Tie 22%
Did you think it was a good debate?
Yes 88%, No 1%
No- 72%, Yes -18%, No Opinion 9% (8-2-1)
Who won the debate?
Obama 55%, McCain 22%, Tie 22%
Did you think it was a good debate?
Yes 88%, No 1%
Wednesday, October 1, 2008
Pelosi Watch
House Speaker Pelosi Used Political Donations to Pay Husband's Firm
"House Speaker Nancy Pelosi paid her husband's real estate and investment firm nearly $100,000 from her political action committee over the past decade, a practice that she voted to ban last year and that her party condemned as part of the "culture of corruption" when Republicans did it."
Pelosi paid husband with PAC funds
"House Speaker Nancy Pelosi paid her husband's real estate and investment firm nearly $100,000 from her political action committee over the past decade, a practice that she voted to ban last year and that her party condemned as part of the "culture of corruption" when Republicans did it."
Pelosi paid husband with PAC funds
Obama grant being probed
link
"A $100,000 state grant for a botanic garden in Englewood that then-state Sen. Barack Obama awarded in 2001 to a group headed by a onetime campaign volunteer is now under investigation by the Illinois attorney general"
"The garden was never built. And now state records obtained by the Sun-Times show $65,000 of the grant money went to the wife of Kenny B. Smith, the Obama 2000 congressional campaign volunteer who heads the Chicago Better Housing Association"
"In addition to the 2001 grant that Obama directed to the housing association as a "member initiative," the not-for-profit group got a separate $20,000 state grant in 2006."
"Smith also has donated $550 to Obama campaign funds."
"A $100,000 state grant for a botanic garden in Englewood that then-state Sen. Barack Obama awarded in 2001 to a group headed by a onetime campaign volunteer is now under investigation by the Illinois attorney general"
"The garden was never built. And now state records obtained by the Sun-Times show $65,000 of the grant money went to the wife of Kenny B. Smith, the Obama 2000 congressional campaign volunteer who heads the Chicago Better Housing Association"
"In addition to the 2001 grant that Obama directed to the housing association as a "member initiative," the not-for-profit group got a separate $20,000 state grant in 2006."
"Smith also has donated $550 to Obama campaign funds."
New Additions to Bailout Bill
Increase in FDIC deposit insurance to $250K. Why is this important? Because small business who might have over $100,000 in the bank (to pay bill, payroll, etc.) would not have pull their accounts from small banks that might face a bank run..
Extension of the federal tax credit on renewable energy.
Raising the level of the alternative minimum tax.
Extension of the federal tax credit on renewable energy.
Raising the level of the alternative minimum tax.
Ifill writes pro-Obama book
Link
Can Ifill be fair to Palin when her book success, due out of inauguration day, might depend on Obama winning?
"Questions are being raised about PBS anchor Gwen Ifill's objectivity after news surfaced that she is releasing a new book promoting Barack Obama and other black politicians who have benefited from the civil rights struggle."
FOX News political analyst Michelle Malkin argued in a post on National Review that Ifill is "so far in the tank for the Democratic presidential candidate, her oxygen delivery line is running." link
Can Ifill be fair to Palin when her book success, due out of inauguration day, might depend on Obama winning?
"Questions are being raised about PBS anchor Gwen Ifill's objectivity after news surfaced that she is releasing a new book promoting Barack Obama and other black politicians who have benefited from the civil rights struggle."
FOX News political analyst Michelle Malkin argued in a post on National Review that Ifill is "so far in the tank for the Democratic presidential candidate, her oxygen delivery line is running." link
Tuesday, September 30, 2008
Is the status of the middle class getting worse?
Take a look at electronics, computer and media. In the 1960s you might have a land line phone with a couple of extensions. You may of had a 19" color TV that received three to eight channels. Computers were only for large companies. You might have had a phonograph and a collection of albums with scratches. You may of had a family car which probably had seat belts that you didn't wear.
Today, you probably have a cell phone for each member of the family. You probably have a 27" color TV or larger in a couple rooms in your house. You might even posses a high-definition television set. You are probably connected to cable or satellite, with 70 to hundreds of channels. You probably have at least one computer, connected to the internet. You probably have an IPOD with 1000s of songs at your fingertips You may have a VCR recorder, DVD player, and or TIVO. You probably have a microwave. You probably have a car for each adult in the family, your car has lap belts which you use, and may have air bags.
Your doctor had a much more limited choices of tests, operations and drugs to give you. The elderly now have cheaper prescription drugs. Social Security now provides a greater percentage of living cost than before.
If you were a young man you were subject to the draft. More women and blacks go to college these days. Race relations are better than the 60s.
Flying is much cheaper today. There is more variety of food choices.
So what else is better or worse for the middle class than in the 1960s?
Today, you probably have a cell phone for each member of the family. You probably have a 27" color TV or larger in a couple rooms in your house. You might even posses a high-definition television set. You are probably connected to cable or satellite, with 70 to hundreds of channels. You probably have at least one computer, connected to the internet. You probably have an IPOD with 1000s of songs at your fingertips You may have a VCR recorder, DVD player, and or TIVO. You probably have a microwave. You probably have a car for each adult in the family, your car has lap belts which you use, and may have air bags.
Your doctor had a much more limited choices of tests, operations and drugs to give you. The elderly now have cheaper prescription drugs. Social Security now provides a greater percentage of living cost than before.
If you were a young man you were subject to the draft. More women and blacks go to college these days. Race relations are better than the 60s.
Flying is much cheaper today. There is more variety of food choices.
So what else is better or worse for the middle class than in the 1960s?
The Obama Advantage
In Ohio today begins a one week period when people can register to vote and receive an absentee ballot immediately. The Obama campaign is transporting students from college campuses to register and vote.
Death of Campaign Finance Reform?
Not only has Obama have a great advantage in spending by rejecting public financing, for September the independent groups in favor of Obama have outspent the independent groups favoring McCain 3-1.
AIG Rescue - Paulson and Goldman Sachs
Did Paulson save AIG because Goldman Sachs have an interest?
According to Steve Forbes, the government made a very good deal on its $85 billion dollar loan.
"AIG's rescue calls for the U.S. Federal Reserve to lend up to $85 billion to AIG for two years in exchange for a 79.9 percent equity stake. It comes just two days after U.S. authorities refused to bail out investment bank Lehman Brothers Holdings Inc (LEH.N), forcing it into bankruptcy court despite pleas from Wall Street's chiefs.
AIG will pay interest at a steep 8.5 percentage points above the three-month London Interbank Offered Rate, making the current rate equal to about 11.4 percent. That gives AIG a big incentive to embark on a massive asset sale program to pay back the loan quickly."
Link
But according to Reuters, "Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) had as much as $20 billion at risk had the insurer American International Group Inc "
"The Wall Street bank told the newspaper that it was never imperiled by AIG's troubles. Spokesman Lucas van Praag also disputed the $20 billion figure, saying it did not account for collateral and hedges that Goldman employed to reduce risk."
link
Either way, this information should have been disclosed.
According to Steve Forbes, the government made a very good deal on its $85 billion dollar loan.
"AIG's rescue calls for the U.S. Federal Reserve to lend up to $85 billion to AIG for two years in exchange for a 79.9 percent equity stake. It comes just two days after U.S. authorities refused to bail out investment bank Lehman Brothers Holdings Inc (LEH.N), forcing it into bankruptcy court despite pleas from Wall Street's chiefs.
AIG will pay interest at a steep 8.5 percentage points above the three-month London Interbank Offered Rate, making the current rate equal to about 11.4 percent. That gives AIG a big incentive to embark on a massive asset sale program to pay back the loan quickly."
Link
But according to Reuters, "Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) had as much as $20 billion at risk had the insurer American International Group Inc "
"The Wall Street bank told the newspaper that it was never imperiled by AIG's troubles. Spokesman Lucas van Praag also disputed the $20 billion figure, saying it did not account for collateral and hedges that Goldman employed to reduce risk."
link
Either way, this information should have been disclosed.
Monday, September 29, 2008
Hypocrisy of rich Liberals - Wind Energy
Why isn't Nantucket Sound producing wind energy? Because of rich liberals like Ted Kennedy.
"The Cape Wind Project is a proposed offshore wind farm on Horseshoe Shoal in Nantucket Sound off Cape Cod in Massachusetts. If the project moves forward on schedule, it will become the first offshore wind farm project in the United States.
A 2007 public opinion survey found that more than four out of five Massachusetts residents (84 percent) -- including 58 percent of those who live on the Cape and on the Islands -- explicitly support "the proposed Cape Wind offshore wind farm that would involve wind turbines being placed in Nantucket Sound about five and a half miles from the Town of Hyannis." A June 2006 survey posed the same question and found 81 percent support statewide and 61 percent in Cape Cod/the Islands.[1]"
The Alliance to Protect Nantucket Sound "was formed in 2001 to oppose a proposal to build a 130 turbine renewable energy wind farm"
"The Cape Wind Project is a proposed offshore wind farm on Horseshoe Shoal in Nantucket Sound off Cape Cod in Massachusetts. If the project moves forward on schedule, it will become the first offshore wind farm project in the United States.
A 2007 public opinion survey found that more than four out of five Massachusetts residents (84 percent) -- including 58 percent of those who live on the Cape and on the Islands -- explicitly support "the proposed Cape Wind offshore wind farm that would involve wind turbines being placed in Nantucket Sound about five and a half miles from the Town of Hyannis." A June 2006 survey posed the same question and found 81 percent support statewide and 61 percent in Cape Cod/the Islands.[1]"
The Alliance to Protect Nantucket Sound "was formed in 2001 to oppose a proposal to build a 130 turbine renewable energy wind farm"
90% tax on oil companies
It amazes me that so many of you are in favor of a 90% tax, unless you want to destroy the military and oil companies.
First, you would have no new investment in the industries, for no sane person would risk money knowing that 90% of possible profits would be taxed.
Second, you would receive less tax revenue. For no same executive would show a profit. He or she would spend any potential profit by buying other assets. And those assets would not be to bring down the cost of production, for any savings gained would lost in taxes. No, they would buy real estate, or non-military and non-oil related companies. Things they could sell once the tax is reduced.
First, you would have no new investment in the industries, for no sane person would risk money knowing that 90% of possible profits would be taxed.
Second, you would receive less tax revenue. For no same executive would show a profit. He or she would spend any potential profit by buying other assets. And those assets would not be to bring down the cost of production, for any savings gained would lost in taxes. No, they would buy real estate, or non-military and non-oil related companies. Things they could sell once the tax is reduced.
Democrat's partisanship kills the bailout bill.
Although no one liked the necessity of the bill, the Democrats have sabotaged it. First they call on McCain to come to Washington to save the bill. When McCain obliges, they rush out saying they have a bill when they didn't just so McCain wouldn't look like a leader. Then Obama comes to the White House meeting and attacks the House Republican's proposals. Senator Dodd added provisions to give 20% of the revenue to organizations like ACORN and La Rasa. Negotiations with Republicans eliminated Dodd's largess and they develop a bill that enough Republicans could sign on. The Democrats, despite have a majority of members, could not get any members in difficult races to support the bill. Then Pelosiattacks the Republicans on the floor of the House just before the vote.
"$700 billion. A staggering number, but only a part of the cost of the failed Bush economic policies to our country. Policies that were built on budget recklessness when Pres. Bush took office, he inherited Pres. Clinton’s surpluses - four years in a row budget surpluses on a trajectory of $5.6 trillion in surplus. And with his reckless economic policies, within two years, he had turned it around. And now 8 years later, the foundation of that fiscal irresponsibility, combined with an “anything goes” economic policy, has taken us to where we are today.
They claim to be free-market advocates, when it’s really an anything goes mentality. No regulation, no supervision, no discipline. And if you fail, you will have a golden parachute and the taxpayer will bail you out.
Those days are over. The party is over in that respect."
"$700 billion. A staggering number, but only a part of the cost of the failed Bush economic policies to our country. Policies that were built on budget recklessness when Pres. Bush took office, he inherited Pres. Clinton’s surpluses - four years in a row budget surpluses on a trajectory of $5.6 trillion in surplus. And with his reckless economic policies, within two years, he had turned it around. And now 8 years later, the foundation of that fiscal irresponsibility, combined with an “anything goes” economic policy, has taken us to where we are today.
They claim to be free-market advocates, when it’s really an anything goes mentality. No regulation, no supervision, no discipline. And if you fail, you will have a golden parachute and the taxpayer will bail you out.
Those days are over. The party is over in that respect."
Bailout Fails in the House
Democrats, who control the House, could not get enough of their own members to pass the bill. The situation was made worse by Pelosi partisan attack on the Republicans just before the vote.
If I was part of the Republican house membership, I would demand the resignation of Barney Frank and Rangel before passing the bill.
Update:
95 Democrats voted against the bill. All supposedly in tight races.
140 Democrats voted for it,
Republicans 65 Yea, 133 Nay, 1 NV (205-228-1)
If I was part of the Republican house membership, I would demand the resignation of Barney Frank and Rangel before passing the bill.
Update:
95 Democrats voted against the bill. All supposedly in tight races.
140 Democrats voted for it,
Republicans 65 Yea, 133 Nay, 1 NV (205-228-1)
Sunday, September 28, 2008
Global Warming Update:
"Overnight the Global Carbon Project, a network of scientists tracking emissions of carbon dioxide, released its latest update, and it shows that emissions are accelerating and are close to the highest scenarios considered by the Intergovernmental Panel on Climate Change last year."
Questions: Why has the temperature increased lately? IF C)2 leads to global warming, shouldn't there be an push for accelerated building of nuclear power plants all over the world?
link
Questions: Why has the temperature increased lately? IF C)2 leads to global warming, shouldn't there be an push for accelerated building of nuclear power plants all over the world?
link
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