Monday, February 28, 2011

Don't Forget It's Importance

Why are We Here?

• Unemployment Rate
• Banking Interest Rates
• Mortgage Foreclosures Numbers
• Government Deficits
• Stock Market Losses up to 50% - Investors, pensions, 401k's & retirements
• Personal & Business Bankruptcies:


 Year    Total                Non-Business          Business
2010    1,596,355        1,538,033               58,322
2009    1,402,816        1,344,095               58,721
2008    1,042,993        1,004,342               38,651
2007       801,269            775,344              25,925
2006    1,112,542        1,085,209               27,333

• Charts:







US Dollar Index:








Friday, February 25, 2011

Reflections on a Twitter Conversation

In a recent conversation with a self-professed "Independent Constitutionalist battling against the liberals destruction of our nation. Progressive Liberals are traitors to U.S.A. & Constitution!" as written in his Twitter Profile.

I place two additional tweets from my twitter friend:

"As I've said, UNION is now as corrupt & greedy as companies they were first formed against. FACT! #tcot #WIunions #aflcio"

"There's Fed laws now that protect emplys. from unfair conditions. Unions now political. About $ & Power. B-Bye!"

My reflection brings me to a new conclusion: The most important benefit of a union membership today is the political voice they receive from the regional or national representation who speaks to elected officials on behalf of the working people.

And this is exactly what the #GOP would like to eliminate. They wish to eliminate the only voice of the working people of America which can come close to competing with the voice provided to corporations by the recent Robert's Supreme Court decision in Citizens United vs Federal Election Commission.

Supporters of Our US Constitution must stand up for our constitutional right for freedom of association and of assembly.


Words Are Never Enough

I think therefore am ......

Thursday, February 24, 2011

Silent Energy Tax

Middle east unrest spooks world oil marketplace. Oil prices bid higher. Higher oil prices are inflationary.

The $100 a barrel crude oil hasn't gotten to the refinery, let alone to the gas

station on the corner yet, when it does, gasoline could hit $4 a gallon. Will result in another tax on the American people and is going to hurt our economic recovery.
 
They make it more expensive to drive, to buy an airplane ticket and to manufacture anything from air conditioners to zippers.

Oil is used in many products and services: Air and auto travel, transportation costs, chemical production,the manufacture of airplanes, buildings, cars, clothing, detergent, insulation, packaging, paint, plastic, toothbrushes, toothpaste, and more...

Click Here to view everyday products using oil.

I thank our Federal Government for bending over for the fossil fuel industry-especially during the George W. Bush years when Dick Cheney held private meetings with industry executives. Our tax policy toward this industry must change, speak out NOW!

Tuesday, February 15, 2011

Ryan's Big Deception a #GOP Play on America

 Article named "The Ryan Budget's Radical Priorities
Provides Largest Tax Cuts in History for Wealthy, Raises Middle Class Taxes, Ends Guaranteed Medicare, Privatizes Social Security, Erodes Health Care"



A Quote from the Center on Budget and Policy Priorities

"Using TPC’s new revenue estimates, we estimate that the budget deficit under the Ryan plan would reach about 7 percent of GDP and the debt would grow to 90 percent of GDP by 2020. TPC estimates that revenues under the Ryan plan would average 16.3 percent of GDP over the period from 2011 through 2020.

In contrast, following the specifications provided by Rep. Ryan’s staff, the CBO analysis assumed that revenues over the same period would average 18.4 percent of GDP. That difference amounts to a loss of almost $4 trillion in revenues over the next decade. As a result of these lower revenues, federal interest costs would also be much higher than those shown in the CBO analysis.

Extrapolating TPC’s revenue estimates beyond 2020 shows that the Ryan plan would fail to stem the rising tide of debt for years to come. [5] The debt would continue to grow in relation to the size of the economy for at least 40 more years — reaching over 175 percent of GDP by 2050. (See Figure 1.) Even by 2080, the debt would still equal about 100 percent of GDP. [6]"

Strip Away all the "Euphemisms" and read the paragraph titles below for a sound understanding of the GP playbook for America.

  • Reports of Plan’s Fiscal Soundness Rest on Misunderstanding of CBO Analysis
  • Radical Changes in Health Coverage

  • Sweeping Changes in Social Security

  • Cutting Taxes for the Wealthy While Raising Taxes for the Middle Class

  • Failing to Avert the Rise in Debt

  • Eroding Employer-Sponsored Health Coverage

  • Plan Lacks Adequate Reforms for Private Insurance Markets

  • Expansion of High-Risk Pools Unlikely to Have Much Impact

  • Exchanges Would Be Too Weak to Keep Premiums Affordable

  • Ending Medicare As We Know It

  • Abolishing Medicaid and the Children’s Health Insurance Program

  • Privatizing Social Security

  • Risking Costly New Federal Bailouts

  • Incentives for People to Elect Privatization, at the Treasury’s Expense

  • Limiting Other Federal Spending

 

Citizens visit the site linked above - you need to have an open mind to all ideas but knowledge is power - be well informed.

Thursday, February 10, 2011

Is It Spring Yet?


It's been a rough winter this year in Connecticut!

"Reagan proved deficits don't matter," Vice President Cheney said in 2002

"Reagan proved deficits don't matter," Vice President Cheney said in 2002 when pushing for a fresh round of tax cuts. With this attitude in hand, Bush passed on a budgetary nightmare to his successor.

Bush came into office with an advantage few presidents have enjoyed -- a $230 billion surplus. But due to a $1.35 trillion tax cut in 2001, a $1.5 trillion tax cut in 2003, and a massive defense buildup through the Iraq and Afghanistan wars, Bush quickly blew through that surplus.

George W Bush initiated tax cuts during a time of war and a floundering economy.

The tax cuts passed during the Bush presidency reduced the government revenue collections by $231 billion in 2009; one has to account for the additions to the federal debt due to Bush administration policies, therefore the government will have to make $218 billion more in interest payments in 2009.

Prosecuted two foreign wars and adopting other programs without paying for them.

The total economic impact of the wars in Iraq and Afghanistan is estimated at $1.6 trillion by 2009.


Remember, 6 of the 8 George W. Bush years measured at the start of each congress, Congress was controlled by the GOP.


Budget deficits swelled under Bush because his supply-side tax policies slashed revenues while failing to deliver strong economic performance.

When former president George W. Bush left office in 2008 there was a $1.5 trillion budget deficit.

Wednesday, February 9, 2011

What the Frack?




Our natural gas boom is an appropriate response to becoming energy independent from Middle East oil but fracking has a nasty byproduct: waste-water so salty, and so polluted with metals like barium and strontium, that most states require drillers to get rid of the stuff by injecting it down shafts thousands of feet deep.

This liquid waste disposal is NOT treated to be sure of it's environmental safety.





This liquid waste needs to be treated for substances that could be environmentally harmful before being injecting it into our earth or releasing it into our rivers and streams from which communities get their drinking water.










This is an area for government regulation to be sure the “General Welfare” of these United States requires is protected from unfettered capitalism by ensuring effluent released from fracking is safe for humans and our environment.

Tuesday, February 8, 2011

Federal Debt as % of GDP

Looks Pretty!


Oil Industry Subsidy - Protection Costs

It has been said that the United States Defense Department spends between $55 to $96.3 billion per year safeguarding the world's petroleum resources.

The Strategic Petroleum Reserve, a federal government entity designed to supplement regular oil supplies in the event of disruptions due to military conflict or natural disaster, costs taxpayers an additional $5.7 billion per year.

Our Coast Guard and the Maritime Administration of our Department of Transportation budget some $566.3 million per year for protective services.

Let us not forget the untold dollars spent by state and local governments on protection services for oil industry companies and gasoline users. Some have said that these services: police, fire, and emergency response expenditures add up to $27.2 to $38.2 billion annually.

I am not piling on the Oil Industry just believe Citizens need to know and understand how BIG OIL, GAS and other industries benefit from small and effective GOVERNMENT.




Knowledge is power.

Corporate Energy Tax Subsidies

Ending tax loopholes carved out for certain constituent industries levels the playing field for all business entities.


Government support of US industry exists with infrastructure programs.



The most recent numbers of federal, state, and local governments spending on transportation infrastructure, such as the construction, maintenance, and repair of roads and bridges is between $36 to $112 billion worth of spending each year.





Tell the GOP simplifiers that you want tax rates lowered only when the tax breaks and subsidies on a local, state and federal level are equalized. We're tired of competing state against state, sometime winning, sometimes loosing, when the worlds developing nations are kicking our ass.

.

Energy Tax Subsidies

The federal government gives the oil industry numerous tax breaks in place to be sure domestic companies can compete with international producers and that gasoline prices are inexpensive for American consumers.

The following are Federal Tax Breaks which benefit oil companies:

• Percentage Depletion Allowance (a subsidy of $784 million to $1 billion per year)

• Nonconventional Fuel Production Credit ($769 to $900 million), immediate expensing of exploration and development costs ($200 to $255 million)

• Enhanced Oil Recovery Credit ($26.3 to $100 million), foreign tax credits ($1.11 to $3.4 billion), foreign income deferrals ($183 to $318 million), and accelerated depreciation allowances ($1.0 to $4.5 billion).


There are also State Tax Subsidies since state income taxes are based on oil companies reduced Federal Tax bills. This results in State Tax receipt reductions of between $125 to $323 million per year.

Some states impose fuel excise taxes that are lower than regular sales taxes, amounting to a subsidy of $4.8 billion per year to gasoline retailers and users.

New rules under the Taxpayer Relief Act of 1997 are likely to provide the petroleum industry with additional tax subsidies of $2.07 billion per year.

In total, annual tax breaks that support gasoline production and use amount to $9.1 to $17.8 billion.

Those of us who use the product ought to pay the fare - End Oil Subsidies Now!

.

Sunday, February 6, 2011

US Constitution "Commerce Clause" Cliff Notes Version

The Commerce Clause: Article I, Section 8, Clause 3:

“The Congress shall have Power: To regulate Commerce with foreign Nations, and among the several States, and with the Indian tribes;”


The Commerce Clause Power has been amplified by the Necessary and Proper Clause which states this Commerce Clause power, and all of the other enumerated powers, may be implemented by the power "To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers, and all other Powers vested by this Constitution in the Government of the United States, or in any Department or Officer thereof." The Necessary and Proper Clause is the final clause of Article I, section 8.

This clause emerged as a response to the existence of individual state legislation which was discriminatory toward other states in our union.

The "New Deal Court" drastically changed the focus of the Court's inquiry in determining whether legislation fell within the scope of the Commerce Clause, and in some sense returned to the concept articulated in Gibbons (1824).

The Court began to defer to the Congress on the theory that determining whether legislation impacted commerce appropriately was a legislative, not a judicial decision.

When examining whether some activity was considered "Commerce" under the Constitution, the Court would aggregate the total effect the activity would have on actual economic commerce. Intrastate activities could fall within the scope of the Commerce Clause, if those activities would have any rational effect on Interstate Commerce.

The court established precedence “if it exerts a substantial economic effect on interstate commerce and this irrespective of whether such effect is what might at some earlier time have been defined as 'direct' or 'indirect.'”

A Rehnquist court opinion pointed out that prior decisions had identified three broad categories of activity that Congress may regulate under its commerce power.

• First, Congress may regulate the use of the channels of interstate commerce;
• Second, Congress is empowered to regulate and protect the instrumentalities of interstate commerce, or persons or things in Interstate Commerce, even though the threat may come only from intrastate activities;
• Finally, Congress's commerce authority includes the power to regulate those activities having a substantial relation to interstate commerce (i.e., those activities that substantially affect interstate commerce).

The court held Congress may regulate a non-economic good, which is intrastate, if it does so as part of a complete scheme of legislation designed to regulate Interstate Commerce.

The evolving level of scrutiny applied by Federal courts to Commerce Clause cases should be considered in the context of rational basis review. The idea behind rational basis review is that the judiciary must show deference to the elected representatives of the people.

A respect for the democratic process requires that the Courts uphold legislation if there are rational facts and reasons that could support Congressional judgment, even if the Justices would come to different conclusions. Throughout the 20th century, in a variety of contexts, courts sought to avoid second guessing the legislative branch, and Commerce Clause jurisprudence can be seen as a part of this trend. Lawrence Tribe states:

Rational basis review begins with establishing the factual predicate upon which the exercise of Congressional power is based. This factual basis might come from a variety of sources.

It might come from factual determinations made by Congress, passed in the legislation itself, or found in the Congressional Reports issued to accompany the legislation. It might come from the record of testimony complied in Committee Hearings. It might come from facts posited by proponents in their briefs in support of the legislation.

The Court wrote:

"Of course, the mere fact that Congress has said when particular activity shall be deemed to affect commerce does not preclude further examination by this Court. But where we find that the legislators, in light of the facts and testimony before them, have a rational basis for finding a chosen regulatory scheme necessary to the protection of commerce, our investigation is at an end."

Courts have said:

"In assessing the scope of Congress' authority under the Commerce Clause, we stress that the task before us is a modest one. We need not determine whether respondents' activities, taken in the aggregate, substantially affect interstate commerce in fact, but only whether a “rational basis” exists for so concluding."

Since its decision in Gibbons, the Supreme Court has recognized that judicial limitations on Congressional exercise of its Commerce Clause powers represent an invasion of the democratic process.

Of course, in some sense, by its very nature, the Constitution represents a constraint on the democratic process, because the Constitution represents a set of rules which may not be overturned through ordinary democratic means.

Nevertheless, the Court regularly points out that the primary limitation on unwise exercise of Congressional Commerce Clause must be found at the ballot box.

Thanks to Wikipedia for reference material: found here!

Friday, February 4, 2011

Stimulus Money Affects Jobs - Supply & Demand

"American Recovery and Reinvestment Act of 2009".


Don't listen to GOP charlatans.

1. They demand stimulus programs get gummed up with inefficient tax cuts for their friends and the wealthy or they vote "NO" and nothing passes [depression].

2. They said "NO" (eg. unemployment insurance extensions, small business assistance, etc.) in the Senate on anything and everything that could have or would have helped the economy improve sooner than the 2010 elections [Slow Recovery].

3. They continue with their Euphemistic approach to citizens: "the substitution of an agreeable or inoffensive expression for one that may offend or suggest something untrue/unpleasant".

Today they pledge to America to cut President O'Bama's 2010 budget proposal by $100 million and one way they do this is to take back the most stimulative parts of the "American Recovery and Reinvestment Act of 2009" [Further damaging our economy].


Why does no one in our media call out the GOP on these matters?

CITIZENS must be informed on more than what happened in the last 15 minutes.

Here are the different types of stimulative choices any government has at it's disposal and their real effects on an economy.


Business owners will hire only when they can not produce enough goods or services with their present workforce. Uncertainty exists only in business with regard to the products they sell. No sales no hiring!

The rest of the GOP talk on uncertainty is trash. And part of their grand plan to distract people from what they are really up to.

Thursday, February 3, 2011

Roger Ailes - Listen & Learn? - Fat Chance



This is how it is here there and every where!

Twisted Truth-tellers Or Liars!

Representative Ryan - It does not make me proud to say such things but I believe many from the GOP are downright liars, or at best truth twisting hypocritical fast talking frequent deliverers of Euphemisms.

Ryan speaks truthfully in CSPAN Clip Here with an appropriate vote on the measure before the house.

Today the "GOP Pledge to America" and rhetoric speaks of ending TARP and Stimulus Funds.

Guess what this would do to our economy-same as austerity right now- hurt it!


Tuesday, February 1, 2011

About Me

My photo
Elections matter-openly cynical of government business as usual-Supreme Court Justices 5-4 open warfare on my Individual Liberty-Teach as Knowledge is Power!