Keith Theodore Olbermann is an American news anchor, sportscaster, writer, and political commentator. He hosts Countdown with Keith Olbermann, an hour-long nightly news and commentary on MSNBC.
http://dailycaller.com/2010/12/08/olbermann-obama-is-god-damned-wrong-on-tax-deal/
Wednesday, December 8, 2010
Wednesday, December 1, 2010
ISMs defined, sorta', kinda'
CAPITALISM - You own 2 cows. You sell one of them and buy a bull.
COMMUNISM - You own 2 cows. The government takes both & gives you part of the milk.
SOCIALISM - You own 2 cows. The government takes 1 & gives it to a neighbor.
FASCISM - You own 2 cows. The government takes both & sells you the milk.
NAZISM - You own 2 cows. The government takes both & shoots you.
BUREAUCRACY - You own 2 cows.... The government takes both, shoots one, milks the other & pours the milk down the drain.
COMMUNISM - You own 2 cows. The government takes both & gives you part of the milk.
SOCIALISM - You own 2 cows. The government takes 1 & gives it to a neighbor.
FASCISM - You own 2 cows. The government takes both & sells you the milk.
NAZISM - You own 2 cows. The government takes both & shoots you.
BUREAUCRACY - You own 2 cows.... The government takes both, shoots one, milks the other & pours the milk down the drain.
Monday, September 20, 2010
A Retired Border Patrol Agent of 30 Years Service Testifies
TESTIMONY OF DAVID J. STODDARD, SUBMITTED TO U.S. SUBCOMMITTEE ON CRIMINAL JUSTICE, DRUG POLICY AND HUMAN RESOURCES, REPRESENTATIVE MARK SOUDER, CHAIRMAN.
February 22, 2002
Sirs:
My name is David J. Stoddard; I am a resident of Cochise County, Arizona. I served my country for 30 years, first as a soldier in the U.S. Army and then as U.S. Border Patrol Agent for 27 years.
I have no personal interest in illegal immigration or in U.S. drug policy except as a patriotic citizen of the United States. I am not being paid or influenced by any entity whatsoever for my testimony submitted to you this day.
There has been a great deal of debate recently over needed changes in U.S. Immigration Law. The United States has the most liberal immigration policies in the entire world. Our laws are designed to protect the American public from criminals, subversives, terrorists, disease, the insane and from those who are likely to become public charges. There are no U.S. laws designed specifically to exclude any deserving person from legally immigrating to the United States. Any person may legally immigrate unless he or she falls within an excludable class. This is for the public good. If existing laws were enforced as intended, there would be no need for new laws.
Currently the United States admits more people as immigrants, refugees and asylum seekers than all the other countries in the world combined. Right now one- fifth of the U.S. population is a foreign born or dependant child of foreign born residents. Since the 2000 Census, the population of the United States has increased by 3 million people according to the U.S. Census Bureau.
According to various Mexican media and official Mexican government sources, the country of Mexico has 18 million of its citizens residing illegally in the United States at this very minute. Mexico claims to have 30 million persons of Mexican descent in the United States. I have no reason not to believe these claims.
According to official U.S. I. & N.S. estimates, Mexicans comprise only 54% of the total number of illegal aliens within the United States. Again, I have no reason to dispute these figures. I hope this gives you some kind of perspective as to the great influence illegal immigration has upon our society.
Since I have lived and worked on the Mexican border all of my life, I am most familiar with the problems presented by illegal Mexican immigration and I would like to focus on that aspect.
- According to former Chief of Police, Ruben Ortega, 80% of the street level drug dealers in Salt Lake City, Utah are illegal Mexican Aliens. I believe we can extrapolate that percentage to any major city in the Southwest.
- According to the U.S. Bureau of Prisons, 24% of those incarcerated in the United States are foreign born, most of them Mexicans.
- According to the California State authorities, that state must build the equivalent of one grammar school a day in order to accommodate the population growth of school aged children, again, largely due to illegal immigrants, most of whom are illegal Mexicans.
I submit to you that Mexico has instituted policies which encourage its citizens to sneak into the United States.
For example:
- Mexico has discontinued the government subsidies for propane, diesel, tortillas, beans, electricity, housing, bread and commodities for poor people.
- Mexico has opened additional consulates in practically every state in the union in order to assist its citizens obtain U.S. benefits, "rights" and to assure legal help in the instances of "discrimination" in employment, law enforcement and in any other legal matter.
- Lawyers retained at the behest of Mexican officials quickly take civil action against any U.S. citizen who chooses to protect himself or his property against illegal Mexicans. This is designed to deter any interference by U.S. residents in the free flow of aliens and drugs across our borders.
- Mexican school children, from the primary grades, are taught that the United States "stole" (from Mexico) the land now called California, Arizona, New Mexico, Texas, Colorado and Utah. Furthermore, these children are taught that were it not for the United States "stealing" California and the gold therein, that Mexico would be a superpower today. I have heard that with my own ears. That is no exaggeration.
- The President of Mexico actively encourages its citizens to illegally emigrate to the U.S. and in fact frequently refers to those who do so as "heroes".
- I can give you the names of eight high-level Mexican politicians who have left office in the last decade with a minimum of $700 million each. These ill-gotten funds could have been used for the good of the Mexican people.
Based on the above facts, I see no reason for any change in U.S. immigration laws. But I see a great need for change in the way Mexico imposes upon the United States. The American people are expected to provide free medical care, housing, education, food and other basic needs to illegal Mexican aliens. These are all services that should be provided to our own elderly, handicapped and poor.
I do see a need to alter the way in which the United States administers its immigration laws however.
Currently the same administrator dictates enforcement and services. Under Doris Meissner, the INS became a service-oriented organization because Ms. Meissner considered all aliens, legal and illegal as her "clients".
Enforcement under the U.S. Border Patrol became non-existent except for a narrow corridor along the border. This encouraged illegal aliens to keep trying until they were successful in traversing that corridor beyond which they could live and reside as long as they wish and do whatever they want, while the services branch of INS does everything it can to make their status legal. This status quo has not changed under INS Commissioner James Ziglar.
This is a schizophrenic approach, which does not, never has and never will work. The INS must be separated into two agencies, one to provide services and the other for enforcement purposes. The U.S. Border Patrol must be allowed to do its job in strict accordance to the law without regard to political correctness and without regard to state, city and local boundaries. This is the only way we can remain a sovereign nation. We cannot allow a foreign nation to dictate our immigration policy, which is the current standard. Either an alien has legally entered the United States or he has not. The legal alien is entitled to benefits and services. The others are not.
Every single person who has sneaked into this country made an informed decision to violate the laws of this country and has accepted the risk of detection and deportation. None of them should be allowed to reside in the U.S. without first exiting and making a legal application for entry in order to screen for criminals, the insane, subversives, terrorists and disease.
The U.S. Border Patrol simply cannot handle its mission under present restraints. Its job is to protect the American public and preserve the sanctity of our international borders. That cannot be accomplished while our borders are overrun by aliens of every nationality and while bureaucrats place unreasonable restrictions on how agents operate.
- I urge the immediate deployment of U.S. military troops and equipment on our borders to seal them against those who would cause us harm. This could be only a temporary measure to allow us to regain control to again become a sovereign nation.
- I urge the separation of the U.S. Border Patrol into a separate agency responsible for the detection, interdiction, arrest, prosecution and/or deportation of drug smugglers and illegal aliens. An experienced enforcement officer whose primary purpose is to protect America and American citizens must run this separate agency. That separate agency must have its own budget and control its own spending. This would assure that the law enforcement agency doesn't have to dance like a puppet at the whim of a non-law enforcement entity with an agenda of its own operating the purse strings. A professional law enforcement agency must be in total control of enforcement, (with Attorney General and Congressional oversight, of
course), or political special interests will exercise undue influence as has been the case with the Border Patrol for the last 78 years.
I realize I cannot be more specific and detailed due to time restraints, so I respectfully submit this to you at this time.
Sincerely,
David J. Stoddard
February 22, 2002
Sirs:
My name is David J. Stoddard; I am a resident of Cochise County, Arizona. I served my country for 30 years, first as a soldier in the U.S. Army and then as U.S. Border Patrol Agent for 27 years.
I have no personal interest in illegal immigration or in U.S. drug policy except as a patriotic citizen of the United States. I am not being paid or influenced by any entity whatsoever for my testimony submitted to you this day.
There has been a great deal of debate recently over needed changes in U.S. Immigration Law. The United States has the most liberal immigration policies in the entire world. Our laws are designed to protect the American public from criminals, subversives, terrorists, disease, the insane and from those who are likely to become public charges. There are no U.S. laws designed specifically to exclude any deserving person from legally immigrating to the United States. Any person may legally immigrate unless he or she falls within an excludable class. This is for the public good. If existing laws were enforced as intended, there would be no need for new laws.
Currently the United States admits more people as immigrants, refugees and asylum seekers than all the other countries in the world combined. Right now one- fifth of the U.S. population is a foreign born or dependant child of foreign born residents. Since the 2000 Census, the population of the United States has increased by 3 million people according to the U.S. Census Bureau.
According to various Mexican media and official Mexican government sources, the country of Mexico has 18 million of its citizens residing illegally in the United States at this very minute. Mexico claims to have 30 million persons of Mexican descent in the United States. I have no reason not to believe these claims.
According to official U.S. I. & N.S. estimates, Mexicans comprise only 54% of the total number of illegal aliens within the United States. Again, I have no reason to dispute these figures. I hope this gives you some kind of perspective as to the great influence illegal immigration has upon our society.
Since I have lived and worked on the Mexican border all of my life, I am most familiar with the problems presented by illegal Mexican immigration and I would like to focus on that aspect.
- According to former Chief of Police, Ruben Ortega, 80% of the street level drug dealers in Salt Lake City, Utah are illegal Mexican Aliens. I believe we can extrapolate that percentage to any major city in the Southwest.
- According to the U.S. Bureau of Prisons, 24% of those incarcerated in the United States are foreign born, most of them Mexicans.
- According to the California State authorities, that state must build the equivalent of one grammar school a day in order to accommodate the population growth of school aged children, again, largely due to illegal immigrants, most of whom are illegal Mexicans.
I submit to you that Mexico has instituted policies which encourage its citizens to sneak into the United States.
For example:
- Mexico has discontinued the government subsidies for propane, diesel, tortillas, beans, electricity, housing, bread and commodities for poor people.
- Mexico has opened additional consulates in practically every state in the union in order to assist its citizens obtain U.S. benefits, "rights" and to assure legal help in the instances of "discrimination" in employment, law enforcement and in any other legal matter.
- Lawyers retained at the behest of Mexican officials quickly take civil action against any U.S. citizen who chooses to protect himself or his property against illegal Mexicans. This is designed to deter any interference by U.S. residents in the free flow of aliens and drugs across our borders.
- Mexican school children, from the primary grades, are taught that the United States "stole" (from Mexico) the land now called California, Arizona, New Mexico, Texas, Colorado and Utah. Furthermore, these children are taught that were it not for the United States "stealing" California and the gold therein, that Mexico would be a superpower today. I have heard that with my own ears. That is no exaggeration.
- The President of Mexico actively encourages its citizens to illegally emigrate to the U.S. and in fact frequently refers to those who do so as "heroes".
- I can give you the names of eight high-level Mexican politicians who have left office in the last decade with a minimum of $700 million each. These ill-gotten funds could have been used for the good of the Mexican people.
Based on the above facts, I see no reason for any change in U.S. immigration laws. But I see a great need for change in the way Mexico imposes upon the United States. The American people are expected to provide free medical care, housing, education, food and other basic needs to illegal Mexican aliens. These are all services that should be provided to our own elderly, handicapped and poor.
I do see a need to alter the way in which the United States administers its immigration laws however.
Currently the same administrator dictates enforcement and services. Under Doris Meissner, the INS became a service-oriented organization because Ms. Meissner considered all aliens, legal and illegal as her "clients".
Enforcement under the U.S. Border Patrol became non-existent except for a narrow corridor along the border. This encouraged illegal aliens to keep trying until they were successful in traversing that corridor beyond which they could live and reside as long as they wish and do whatever they want, while the services branch of INS does everything it can to make their status legal. This status quo has not changed under INS Commissioner James Ziglar.
This is a schizophrenic approach, which does not, never has and never will work. The INS must be separated into two agencies, one to provide services and the other for enforcement purposes. The U.S. Border Patrol must be allowed to do its job in strict accordance to the law without regard to political correctness and without regard to state, city and local boundaries. This is the only way we can remain a sovereign nation. We cannot allow a foreign nation to dictate our immigration policy, which is the current standard. Either an alien has legally entered the United States or he has not. The legal alien is entitled to benefits and services. The others are not.
Every single person who has sneaked into this country made an informed decision to violate the laws of this country and has accepted the risk of detection and deportation. None of them should be allowed to reside in the U.S. without first exiting and making a legal application for entry in order to screen for criminals, the insane, subversives, terrorists and disease.
The U.S. Border Patrol simply cannot handle its mission under present restraints. Its job is to protect the American public and preserve the sanctity of our international borders. That cannot be accomplished while our borders are overrun by aliens of every nationality and while bureaucrats place unreasonable restrictions on how agents operate.
- I urge the immediate deployment of U.S. military troops and equipment on our borders to seal them against those who would cause us harm. This could be only a temporary measure to allow us to regain control to again become a sovereign nation.
- I urge the separation of the U.S. Border Patrol into a separate agency responsible for the detection, interdiction, arrest, prosecution and/or deportation of drug smugglers and illegal aliens. An experienced enforcement officer whose primary purpose is to protect America and American citizens must run this separate agency. That separate agency must have its own budget and control its own spending. This would assure that the law enforcement agency doesn't have to dance like a puppet at the whim of a non-law enforcement entity with an agenda of its own operating the purse strings. A professional law enforcement agency must be in total control of enforcement, (with Attorney General and Congressional oversight, of
course), or political special interests will exercise undue influence as has been the case with the Border Patrol for the last 78 years.
I realize I cannot be more specific and detailed due to time restraints, so I respectfully submit this to you at this time.
Sincerely,
David J. Stoddard
Tuesday, September 14, 2010
Plunder: The Crime of Our Time
So, you probably believe Bush is to blame for our current economic woes, don't you? Well, if you do, you're wrong. Of course, government has played a role, but it's not the work of the President. If you really want to know 'who' 'how' 'why' 'when' then may I suggest you begin with this video on YouTube. Powerful stuff, this.
Thursday, September 9, 2010
We Democrats Care for the Poor (In Our Own Backyard?)
We're "broke" & can't help our own Seniors, Homeless, Veterans, Orphans, etc. ???
This is so pathetically true...in the last month we have provided aid to Haiti , Chile , and Turkey .
Our retired seniors living on a fixed income receive no aid while our government and religious organizations pour hundreds of millions of dollars and tons of food to foreign countries.
We have hundreds of adoptable children who are shoved aside to make room for the adoption of foreign orphans.
Why are so many American citizens, and the American government, so star struck they won't provide for our own?
America: a country where we have homeless without shelter, children going to bed without eating, elderly going without needed meds, and mentally ill without treatment - yet we have a benefit for the people of Haiti on 12 TV stations, ships and planes lining up with food, water, tents, clothes, bedding, doctors and medical supplies.
Imagine if we gave ourselves the same support that we gave all other countries.
I feel bad for them but I also care about America and our Seniors who developed this great country only to be forgotten.
Sad isn't it?
This is so pathetically true...in the last month we have provided aid to Haiti , Chile , and Turkey .
Our retired seniors living on a fixed income receive no aid while our government and religious organizations pour hundreds of millions of dollars and tons of food to foreign countries.
We have hundreds of adoptable children who are shoved aside to make room for the adoption of foreign orphans.
Why are so many American citizens, and the American government, so star struck they won't provide for our own?
America: a country where we have homeless without shelter, children going to bed without eating, elderly going without needed meds, and mentally ill without treatment - yet we have a benefit for the people of Haiti on 12 TV stations, ships and planes lining up with food, water, tents, clothes, bedding, doctors and medical supplies.
Imagine if we gave ourselves the same support that we gave all other countries.
I feel bad for them but I also care about America and our Seniors who developed this great country only to be forgotten.
Sad isn't it?
Wednesday, September 8, 2010
Islam is anything but peace, love, and harmony
If you sincerely believe Islam is a peaceful, loving, caring, nurturing, family-enriching religion, then this four-minute video (link below) should give you more insight into it.
http://www.youtube.com/watch?v=bFkcA0opndE
http://www.youtube.com/watch?v=bFkcA0opndE
Saturday, September 4, 2010
Causes of the Recent Financial and Economic Crisis
On September 2, 2010, Chairman Ben Bernanke appeared before the Financial Crisis Inquiry Commission, Washington, D.C., and spoke at length about the causes of the recent financial and economic crisis. His complete remarks may be viewed here.
Democrats — Liberals — Progressives ... Unite!!!
There is a flame coming that may very well ignite the fuse of a second Civil War here in our beloved and greatest country in the world, the United States of America. It is a motion picture ill-timed to be released just days before the November 2010 elections.
Titled, "I Want Your Money," it begins with a cartoon-like spoof of a conversation between our esteemed President Barack Hussein Obama and former President (and now deceased) President Ronald Wilson Reagan. This movie must be avoided and boycotted by all loyal members of our Democratic Party!
A viewing of the MPAA.org approved trailer may be viewed here.
Titled, "I Want Your Money," it begins with a cartoon-like spoof of a conversation between our esteemed President Barack Hussein Obama and former President (and now deceased) President Ronald Wilson Reagan. This movie must be avoided and boycotted by all loyal members of our Democratic Party!
A viewing of the MPAA.org approved trailer may be viewed here.
Thanks From Michelle
For only the second time in my adult life, I am not ashamed of my country. I want to thank the hard working American people for paying $242 thousand dollars plus additional expenses for my vacation in Spain. My daughter Sasha, several long-time family friends, my personal staff and various guests had a wonderful time. Honestly, you just haven't lived until you have stayed in a $2,500.00 per night suite at a 5-Star luxury hotel. We only booked 70 rooms for our friends, staff and family.
Thank you also for the use of Air Force 2 and the 70 Secret Service personnel who tagged along to be sure we were safe and cared for at all times.
Air Force 2 only used 47,500 gallons of jet fuel for this trip and carbon emissions were a mere 1,031 tons of CO2. It costs only $11,500 per hour to operate Air Force 2 and each additional plane for the other members of our party group. These are only rough estimates, but they are close (who's counting?). That's quite a carbon footprint as my good friend Al Gore would say, so we must ask the American citizens to drive smaller, more fuel efficient cars and drive less too, so we can lessen our combined carbon footprint.
I know times are hard and millions of you are struggling to put food on the table and trying to make ends meet. I do appreciate your sacrifice and do hope you find work soon. I was really exhausted after Barack took our family on a luxury vacation in Maine a few weeks ago. I just had to get away for a few days. Will write more from Martha's Vineyard where we will spend our sixth vacation this year with more of our family and friends.
Cordially,
Michelle Obama
Thank you also for the use of Air Force 2 and the 70 Secret Service personnel who tagged along to be sure we were safe and cared for at all times.
Air Force 2 only used 47,500 gallons of jet fuel for this trip and carbon emissions were a mere 1,031 tons of CO2. It costs only $11,500 per hour to operate Air Force 2 and each additional plane for the other members of our party group. These are only rough estimates, but they are close (who's counting?). That's quite a carbon footprint as my good friend Al Gore would say, so we must ask the American citizens to drive smaller, more fuel efficient cars and drive less too, so we can lessen our combined carbon footprint.
I know times are hard and millions of you are struggling to put food on the table and trying to make ends meet. I do appreciate your sacrifice and do hope you find work soon. I was really exhausted after Barack took our family on a luxury vacation in Maine a few weeks ago. I just had to get away for a few days. Will write more from Martha's Vineyard where we will spend our sixth vacation this year with more of our family and friends.
Cordially,
Michelle Obama
Tuesday, August 31, 2010
Rabbi Chutzpah
Baruch Adonai Elohey Yisrael Adonai
Shabot Shalom
Monday, August 23, 2010
The Bush Tax Cuts End On 01/01/11 (commentary by Joan Pryde)
In just four months, on January 1, 2011, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves.
On January 1, 2011, here's what happens... (read it to the end, so you see all three waves)...
First Wave:
Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011. Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise.
Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
• The 10% bracket rises to an expanded 15%
• The 25% bracket rises to 28%
• The 28% bracket rises to 31%
• The 33% bracket rises to 36%
• The 35% bracket rises to 39.6%
• Higher taxes on marriage and family.
• The "marriage penalty" (narrower tax brackets for married couples) will return from the first dollar of income.
• The child tax credit will be cut in half from $1000 to $500 per child.
• The standard deduction will no longer be doubled for married couples relative to the single level.
• The dependent care and adoption tax credits will be cut.
• The return of the Death Tax.
This year only, there is no death tax. (It's a quirk!) For those dying on or after January 1, 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes, a business, a retirement account, could easily pass along a death tax bill to their loved ones. Think of the farmers who don't make much money, but their land, which they purchased years ago with after-tax dollars, is now worth a lot of money. Their children will have to sell the farm, which may be their livelihood, just to pay the estate tax if they don't have the cash sitting around to pay the tax. Think about your own family's assets. Maybe your family owns real estate, or a business that doesn't make much money, but the building and equipment are worth $1 million. Upon their death, you can inherit the $1 million business tax free, but if they own a home, stock, cash worth $500K on top of the $1 million business, then you will owe the government $275,000 cash! That's 55% of the value of the assets over $1 million! Do you have that kind of cash sitting around waiting to pay the estate tax?
• Higher tax rates on savers and investors.
• The capital gains tax will rise from 15 percent this year to 20 percent in 2011.
• The dividends tax will rise from 15 percent this year to 39.6 percent in 2011.
These rates will rise another 3.8 percent in 2013.
Second Wave:
Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
The "Medicine Cabinet Tax"
Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
The "Special Needs Kids Tax"
This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.
There are thousands of families with special needs children in the United States , and many of them use FSAs to pay for special needs education.
Tuition rates at one leading school that teaches special needs children in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year.
Under tax rules, FSA dollars can not be used to pay for this type of special needs education.
The HSA (Health Savings Account) Withdrawal Tax Hike.
This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Third Wave:
The Alternative Minimum Tax (AMT) and Employer Tax Hikes
When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired.
The major items include:
The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.
Small business expensing will be slashed and 50% expensing will disappear.
Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can currently expense half of their purchases of equipment. In January of 2011, all of it will have to be "depreciated."
Taxes will be raised on all types of businesses.
There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.
Tax Benefits for Education and Teaching Reduced.
The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut.
Employer-provided educational assistance is curtailed.
The student loan interest deduction will be disallowed for hundreds of thousands of families.
Charitable Contributions from IRAs no longer allowed.
Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there.
And worse yet?
Now, your insurance will be INCOME on your W2's!
One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort.
If you're retired? So what... your gross will go up by the amount of insurance you get.
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."
About The Author - Joan Pryde is the senior tax editor for the Kiplinger letters.
On January 1, 2011, here's what happens... (read it to the end, so you see all three waves)...
First Wave:
Expiration of 2001 and 2003 Tax Relief
In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011. Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise.
Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:
• The 10% bracket rises to an expanded 15%
• The 25% bracket rises to 28%
• The 28% bracket rises to 31%
• The 33% bracket rises to 36%
• The 35% bracket rises to 39.6%
• Higher taxes on marriage and family.
• The "marriage penalty" (narrower tax brackets for married couples) will return from the first dollar of income.
• The child tax credit will be cut in half from $1000 to $500 per child.
• The standard deduction will no longer be doubled for married couples relative to the single level.
• The dependent care and adoption tax credits will be cut.
• The return of the Death Tax.
This year only, there is no death tax. (It's a quirk!) For those dying on or after January 1, 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes, a business, a retirement account, could easily pass along a death tax bill to their loved ones. Think of the farmers who don't make much money, but their land, which they purchased years ago with after-tax dollars, is now worth a lot of money. Their children will have to sell the farm, which may be their livelihood, just to pay the estate tax if they don't have the cash sitting around to pay the tax. Think about your own family's assets. Maybe your family owns real estate, or a business that doesn't make much money, but the building and equipment are worth $1 million. Upon their death, you can inherit the $1 million business tax free, but if they own a home, stock, cash worth $500K on top of the $1 million business, then you will owe the government $275,000 cash! That's 55% of the value of the assets over $1 million! Do you have that kind of cash sitting around waiting to pay the estate tax?
• Higher tax rates on savers and investors.
• The capital gains tax will rise from 15 percent this year to 20 percent in 2011.
• The dividends tax will rise from 15 percent this year to 39.6 percent in 2011.
These rates will rise another 3.8 percent in 2013.
Second Wave:
Obamacare
There are over twenty new or higher taxes in Obamacare. Several will first go into effect on January 1, 2011. They include:
The "Medicine Cabinet Tax"
Thanks to Obamacare, Americans will no longer be able to use health savings account (HSA), flexible spending account (FSA), or health reimbursement (HRA) pre-tax dollars to purchase non-prescription, over-the-counter medicines (except insulin).
The "Special Needs Kids Tax"
This provision of Obamacare imposes a cap on flexible spending accounts (FSAs) of $2500 (Currently, there is no federal government limit). There is one group of FSA owners for whom this new cap will be particularly cruel and onerous: parents of special needs children.
There are thousands of families with special needs children in the United States , and many of them use FSAs to pay for special needs education.
Tuition rates at one leading school that teaches special needs children in Washington , D.C. ( National Child Research Center ) can easily exceed $14,000 per year.
Under tax rules, FSA dollars can not be used to pay for this type of special needs education.
The HSA (Health Savings Account) Withdrawal Tax Hike.
This provision of Obamacare increases the additional tax on non-medical early withdrawals from an HSA from 10 to 20 percent, disadvantaging them relative to IRAs and other tax-advantaged accounts, which remain at 10 percent.
Third Wave:
The Alternative Minimum Tax (AMT) and Employer Tax Hikes
When Americans prepare to file their tax returns in January of 2011, they'll be in for a nasty surprise-the AMT won't be held harmless, and many tax relief provisions will have expired.
The major items include:
The AMT will ensnare over 28 million families, up from 4 million last year.
According to the left-leaning Tax Policy Center , Congress' failure to index the AMT will lead to an explosion of AMT taxpaying families-rising from 4 million last year to 28.5 million. These families will have to calculate their tax burdens twice, and pay taxes at the higher level. The AMT was created in 1969 to ensnare a handful of taxpayers.
Small business expensing will be slashed and 50% expensing will disappear.
Small businesses can normally expense (rather than slowly-deduct, or "depreciate") equipment purchases up to $250,000. This will be cut all the way down to $25,000. Larger businesses can currently expense half of their purchases of equipment. In January of 2011, all of it will have to be "depreciated."
Taxes will be raised on all types of businesses.
There are literally scores of tax hikes on business that will take place. The biggest is the loss of the "research and experimentation tax credit," but there are many, many others. Combining high marginal tax rates with the loss of this tax relief will cost jobs.
Tax Benefits for Education and Teaching Reduced.
The deduction for tuition and fees will not be available. Tax credits for education will be limited. Teachers will no longer be able to deduct classroom expenses. Coverdell Education Savings Accounts will be cut.
Employer-provided educational assistance is curtailed.
The student loan interest deduction will be disallowed for hundreds of thousands of families.
Charitable Contributions from IRAs no longer allowed.
Under current law, a retired person with an IRA can contribute up to $100,000 per year directly to a charity from their IRA. This contribution also counts toward an annual "required minimum distribution." This ability will no longer be there.
And worse yet?
Now, your insurance will be INCOME on your W2's!
One of the surprises we'll find come next year, is what follows - - a little "surprise" that 99% of us had no idea was included in the "new and improved" healthcare legislation . . . the dupes, er, dopes, who backed this administration will be astonished!
Starting in 2011, (next year folks), your W-2 tax form sent by your employer will be increased to show the value of whatever health insurance you are given by the company. It does not matter if that's a private concern or governmental body of some sort.
If you're retired? So what... your gross will go up by the amount of insurance you get.
You will be required to pay taxes on a large sum of money that you have never seen. Take your tax form you just finished and see what $15,000 or $20,000 additional gross does to your tax debt. That's what you'll pay next year.
For many, it also puts you into a new higher bracket so it's even worse.
This is how the government is going to buy insurance for the15% that don't have insurance and it's only part of the tax increases.
Not believing this??? Here is a research of the summaries.....
On page 25 of 29: TITLE IX REVENUE PROVISIONS- SUBTITLE A: REVENUE OFFSET PROVISIONS-(sec. 9001, as modified by sec. 10901) Sec.9002 "requires employers to include in the W-2 form of each employee the aggregate cost of applicable employer sponsored group health coverage that is excludable from the employees gross income."
About The Author - Joan Pryde is the senior tax editor for the Kiplinger letters.
Saturday, August 21, 2010
This Is Why There Are No Jobs in America
By Porter Stansberry, Saturday, August 21, 2010
I'd like to make you a business offer.
Seriously. This is a real offer. In fact, you really can't turn me down, as you'll come to understand in a moment...
Here's the deal. You're going to start a business or expand the one you've got now. It doesn't really matter what you do or what you're going to do. I'll partner with you no matter what business you're in - as long as it's legal.
But I can't give you any capital - you have to come up with that on your own. I won't give you any labor - that's definitely up to you. What I will do, however, is demand you follow all sorts of rules about what products and services you can offer, how much (and how often) you pay your employees, and where and when you're allowed to operate your business. That's my role in the affair: to tell you what to do.
Now in return for my rules, I'm going to take roughly half of whatever you make in the business each year. Half seems fair, doesn't it? I think so. Of course, that's half of your profits.
You're also going to have to pay me about 12% of whatever you decide to pay your employees because you've got to cover my expenses for promulgating all of the rules about who you can employ, when, where, and how. Come on, you're my partner. It's only "fair."
Now... after you've put your hard-earned savings at risk to start this business, and after you've worked hard at it for a few decades (paying me my 50% or a bit more along the way each year), you might decide you'd like to cash out - to finally live the good life.
Whether or not this is "fair" - some people never can afford to retire - is a different argument. As your partner, I'm happy for you to sell whenever you'd like... because our agreement says, if you sell, you have to pay me an additional 20% of whatever the capitalized value of the business is at that time.
I know... I know... you put up all the original capital. You took all the risks. You put in all of the labor. That's all true. But I've done my part, too. I've collected 50% of the profits each year. And I've always come up with more rules for you to follow each year. Therefore, I deserve another, final 20% slice of the business.
Oh... and one more thing...
Even after you've sold the business and paid all of my fees... I'd recommend buying lots of life insurance. You see, even after you've been retired for years, when you die, you'll have to pay me 50% of whatever your estate is worth.
After all, I've got lots of partners and not all of them are as successful as you and your family. We don't think it's "fair" for your kids to have such a big advantage. But if you buy enough life insurance, you can finance this expense for your children.
All in all, if you're a very successful entrepreneur... if you're one of the rare, lucky, and hard-working people who can create a new company, employ lots of people, and satisfy the public... you'll end up paying me more than 75% of your income over your life. Thanks so much.
I'm sure you'll think my offer is reasonable and happily partner with me... but it doesn't really matter how you feel about it because if you ever try to stiff me - or cheat me on any of my fees or rules - I'll break down your door in the middle of the night, threaten you and your family with heavy, automatic weapons, and throw you in jail.
That's how civil society is supposed to work, right? This is Amerika, isn't it?
That's the offer Amerika gives its entrepreneurs. And the idiots in Washington wonder why there are no new jobs...
Regards,
Porter Stansberry
By Porter Stansberry, Saturday, August 21, 2010
I'd like to make you a business offer.
Seriously. This is a real offer. In fact, you really can't turn me down, as you'll come to understand in a moment...
Here's the deal. You're going to start a business or expand the one you've got now. It doesn't really matter what you do or what you're going to do. I'll partner with you no matter what business you're in - as long as it's legal.
But I can't give you any capital - you have to come up with that on your own. I won't give you any labor - that's definitely up to you. What I will do, however, is demand you follow all sorts of rules about what products and services you can offer, how much (and how often) you pay your employees, and where and when you're allowed to operate your business. That's my role in the affair: to tell you what to do.
Now in return for my rules, I'm going to take roughly half of whatever you make in the business each year. Half seems fair, doesn't it? I think so. Of course, that's half of your profits.
You're also going to have to pay me about 12% of whatever you decide to pay your employees because you've got to cover my expenses for promulgating all of the rules about who you can employ, when, where, and how. Come on, you're my partner. It's only "fair."
Now... after you've put your hard-earned savings at risk to start this business, and after you've worked hard at it for a few decades (paying me my 50% or a bit more along the way each year), you might decide you'd like to cash out - to finally live the good life.
Whether or not this is "fair" - some people never can afford to retire - is a different argument. As your partner, I'm happy for you to sell whenever you'd like... because our agreement says, if you sell, you have to pay me an additional 20% of whatever the capitalized value of the business is at that time.
I know... I know... you put up all the original capital. You took all the risks. You put in all of the labor. That's all true. But I've done my part, too. I've collected 50% of the profits each year. And I've always come up with more rules for you to follow each year. Therefore, I deserve another, final 20% slice of the business.
Oh... and one more thing...
Even after you've sold the business and paid all of my fees... I'd recommend buying lots of life insurance. You see, even after you've been retired for years, when you die, you'll have to pay me 50% of whatever your estate is worth.
After all, I've got lots of partners and not all of them are as successful as you and your family. We don't think it's "fair" for your kids to have such a big advantage. But if you buy enough life insurance, you can finance this expense for your children.
All in all, if you're a very successful entrepreneur... if you're one of the rare, lucky, and hard-working people who can create a new company, employ lots of people, and satisfy the public... you'll end up paying me more than 75% of your income over your life. Thanks so much.
I'm sure you'll think my offer is reasonable and happily partner with me... but it doesn't really matter how you feel about it because if you ever try to stiff me - or cheat me on any of my fees or rules - I'll break down your door in the middle of the night, threaten you and your family with heavy, automatic weapons, and throw you in jail.
That's how civil society is supposed to work, right? This is Amerika, isn't it?
That's the offer Amerika gives its entrepreneurs. And the idiots in Washington wonder why there are no new jobs...
Regards,
Porter Stansberry
Wednesday, August 18, 2010
Overload the System (by Wayne Allyn Root)
"Rabbi Chutzpah neither endorses or opposes the following commentary" - Rabbi Chutzpah
Barrack Obama is no fool. He is not incompetent. To the contrary, he is brilliant. He knows exactly what he's doing. He is purposely overwhelming the U.S. economy to create systemic failure, economic crisis and social chaos -- thereby destroying capitalism and our country from within.
Barack Obama is my college classmate ( Columbia University , class of '83). As Glenn Beck correctly predicted from day one, Obama is following the plan of Cloward and Piven, two professors at Columbia University . They outlined a plan to socialize America by overwhelming the system with government spending and entitlement demands. Add up the clues below. Taken individually they're alarming. Taken as a whole, it is a brilliant, Machiavellian game plan to turn the United States into a socialist/Marxist state with a permanent majority that desperately needs government for survival ... and can be counted on to always vote for bigger government. Why not? They have no responsibility to pay for it.
-- Universal health care. The health care bill had very little to do with health care. � It had everything to do with unionizing millions of hospital and health care workers, as well as adding 15,000 to 20,000 new IRS agents (who will join government employee unions). Obama doesn't care that giving free health care to 30 million Americans will add trillions to the national debt. What he does care about is that it cements the dependence of those 30 million voters to Democrats and big government. Who but a socialist revolutionary would pass this reckless spending bill in the middle of a depression?
-- Cap and trade. Like health care legislation having nothing to do with health care, cap and trade has nothing to do with global warming. It has everything to do with redistribution of income, government control of the economy and a criminal payoff to Obama's biggest contributors. Those powerful and wealthy unions and contributors (like GE, which owns NBC, MSNBC and CNBC) can then be counted on to support everything Obama wants. They will kickback hundreds of millions of dollars in contributions to Obama and the Democratic Party to keep them in power. The bonus is that all the new taxes on Americans with bigger cars, bigger homes and businesses help Obama "spread the wealth around."
-- Make Puerto Rico a state. Why? Who's asking for a 51st state? Who's asking for millions of new welfare recipients and government entitlement addicts in the middle of a depression? Certainly not American taxpayers - But this has been Obama's plan all along. His goal is to add two new Democrat senators, five Democrat congressman and a million loyal Democratic voters who are dependent on big government.
-- Legalize 12 million illegal immigrants. Just giving these 12 million potential new citizens free health care alone could overwhelm the system and bankrupt America . But it adds 12 million reliable new Democrat voters who can be counted on to support big government. Add another few trillion dollars in welfare, aid to dependent children, food stamps, free medical, education, tax credits for the poor, and eventually Social Security.
-- Stimulus and bailouts. Where did all that money go? It went to Democrat contributors, organizations (ACORN), and unions -- including billions of dollars to save or create jobs of government employees across the country. It went to save GM and Chrysler so that their employees could keep paying union dues. It went to AIG so that Goldman Sachs could be bailed out (after giving Obama almost $1 million in contributions). A staggering $125 billion went to teachers (thereby protecting their union dues). All those public employees will vote loyally Democrat to protect their bloated salaries and pensions that are bankrupting America . The country goes broke, future generations face a bleak future, but Obama, the Democrat Party, government, and the unions grow more powerful. The ends justify the means.
-- Raise taxes on small business owners, high-income earners, and job creators. Put the entire burden on only the top 20 percent of taxpayers, redistribute the income, punish success, and reward those who did nothing to deserve it (except vote for Obama). Reagan wanted to dramatically cut taxes in order to starve the government. Obama wants to dramatically raise taxes to starve his political opposition.
With the acts outlined above, Obama and his regime have created a vast and rapidly expanding constituency of voters dependent on big government; a vast privileged class of public employees who work for big government; and a government dedicated to destroying capitalism and installing themselves as socialist rulers by overwhelming the system.
Add it up and you've got the perfect Marxist scheme -- all devised by my Columbia University college classmate Barack Obama using the Cloward and Piven Plan.
Barrack Obama is no fool. He is not incompetent. To the contrary, he is brilliant. He knows exactly what he's doing. He is purposely overwhelming the U.S. economy to create systemic failure, economic crisis and social chaos -- thereby destroying capitalism and our country from within.
Barack Obama is my college classmate ( Columbia University , class of '83). As Glenn Beck correctly predicted from day one, Obama is following the plan of Cloward and Piven, two professors at Columbia University . They outlined a plan to socialize America by overwhelming the system with government spending and entitlement demands. Add up the clues below. Taken individually they're alarming. Taken as a whole, it is a brilliant, Machiavellian game plan to turn the United States into a socialist/Marxist state with a permanent majority that desperately needs government for survival ... and can be counted on to always vote for bigger government. Why not? They have no responsibility to pay for it.
-- Universal health care. The health care bill had very little to do with health care. � It had everything to do with unionizing millions of hospital and health care workers, as well as adding 15,000 to 20,000 new IRS agents (who will join government employee unions). Obama doesn't care that giving free health care to 30 million Americans will add trillions to the national debt. What he does care about is that it cements the dependence of those 30 million voters to Democrats and big government. Who but a socialist revolutionary would pass this reckless spending bill in the middle of a depression?
-- Cap and trade. Like health care legislation having nothing to do with health care, cap and trade has nothing to do with global warming. It has everything to do with redistribution of income, government control of the economy and a criminal payoff to Obama's biggest contributors. Those powerful and wealthy unions and contributors (like GE, which owns NBC, MSNBC and CNBC) can then be counted on to support everything Obama wants. They will kickback hundreds of millions of dollars in contributions to Obama and the Democratic Party to keep them in power. The bonus is that all the new taxes on Americans with bigger cars, bigger homes and businesses help Obama "spread the wealth around."
-- Make Puerto Rico a state. Why? Who's asking for a 51st state? Who's asking for millions of new welfare recipients and government entitlement addicts in the middle of a depression? Certainly not American taxpayers - But this has been Obama's plan all along. His goal is to add two new Democrat senators, five Democrat congressman and a million loyal Democratic voters who are dependent on big government.
-- Legalize 12 million illegal immigrants. Just giving these 12 million potential new citizens free health care alone could overwhelm the system and bankrupt America . But it adds 12 million reliable new Democrat voters who can be counted on to support big government. Add another few trillion dollars in welfare, aid to dependent children, food stamps, free medical, education, tax credits for the poor, and eventually Social Security.
-- Stimulus and bailouts. Where did all that money go? It went to Democrat contributors, organizations (ACORN), and unions -- including billions of dollars to save or create jobs of government employees across the country. It went to save GM and Chrysler so that their employees could keep paying union dues. It went to AIG so that Goldman Sachs could be bailed out (after giving Obama almost $1 million in contributions). A staggering $125 billion went to teachers (thereby protecting their union dues). All those public employees will vote loyally Democrat to protect their bloated salaries and pensions that are bankrupting America . The country goes broke, future generations face a bleak future, but Obama, the Democrat Party, government, and the unions grow more powerful. The ends justify the means.
-- Raise taxes on small business owners, high-income earners, and job creators. Put the entire burden on only the top 20 percent of taxpayers, redistribute the income, punish success, and reward those who did nothing to deserve it (except vote for Obama). Reagan wanted to dramatically cut taxes in order to starve the government. Obama wants to dramatically raise taxes to starve his political opposition.
With the acts outlined above, Obama and his regime have created a vast and rapidly expanding constituency of voters dependent on big government; a vast privileged class of public employees who work for big government; and a government dedicated to destroying capitalism and installing themselves as socialist rulers by overwhelming the system.
Add it up and you've got the perfect Marxist scheme -- all devised by my Columbia University college classmate Barack Obama using the Cloward and Piven Plan.
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