LeBronomics

So, why did LeBron pick Miami?  Could it be the great beaches?  D-Wade?  And why not New York, the “greatest” city in America?  The spotlight, celebrities, and endorsements are presumably all much bigger in New York.  Let us take a hard look at the economics of the situation.

LeBron’s income tax for a New York contract:  $12.34 million.

LeBron’s income tax for a Miami contract:  $0.

Need I say more?  Could we blame New York’s dysfunctional, tax hungry politicians for LeBron’s flight to Miami?  Maybe just a little bit.

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Taxes and Health Care

Barack Obama’s Campaign promise:  “you will not see any of your taxes increase one single dime.”

Simple Reality:  The federal government is somehow going to have to increase tax revenue to pay for this health care overhaul.  So higher taxes?  According to 2 Obama administration officials, Treasury Secretary Timothy Geithner and National Economic Council Director Larry Summers, raising those taxes may not be off the table.

And this video has hit the web.  If you don’t think the Obama administration is in it to eliminate private health insurance please consider this.

Climate Change Suppression

One of the things I have enjoyed bringing to the forefront on this blog is stories that do not make the front page but give a deal of insight into our society.  I have been shown to be quite critical of the government, particularly the objectives of the Obama administration in the past few months.  One of those areas of critique is climate change.

I am a firm believer that the earth is more than capable of taking almost anything we could dish out at her and recover quite nicely.  The earth has shown herself to be quite resilient.  Many environmental activists decry the availability of nuclear weapons.  Take a look at Hiroshima, the first city to be attack with a nuclear weapon.  It has a population of 1.1 million and is doing quite well with its Mazda factory accounting for a large percentage of its GDP.

So then can the earth handle pollution?  Fossil fuels (natural resources, not artificial)?  She seems to be doing quite well considering as CO2 emissions go up temperatures have gone down worldwide.  Can man really do much to damage the environment?  If a meteorite really wiped out the dinosaurs the earth must have recovered because we are standing here today.

So what then is the motivation for limiting carbon emissions?  Do Congress and the President really want to protect the environment or is there more at play here?  There has to be more at play and I think there are two things.  The first has to do with political power.  Notice that the vast majority of environmentalists are affiliated with the Democratic party.  In an effort to satisfy that constituency and maintain power the Democratic party is making and effort to pass this legislation.  Without this movement and the power, particularly in money, that they bring to the political table climate change would be a non issue in American politics.

The second is personal power.  Our representatives in Congress do a handful of things for us.  They help make policy and spend our money.  And we all know they are spenders.  Further taxation only increases their power and cap-and-trade is a fantastic example.  By further taxing companies more extensively through cap-and-trade and its increased regulation and taxes they draw more power to themselves.

If our representatives were interested in protecting the environment reports such as this would not be suppressed by the Obama EPA.

Job Losses You Can Blame on Obama

I found some!  Crazy, but higher taxes hurt businesses, as does increased regulation, which generally leads to a loss of jobs.  Point and case.  Tobacco taxes go up, jobs are lost.

Keep Your Eyes Peeled – Jared

More stories like this are beginning to crop up. I have seen a few and I cannot off the top of my head remember where or what about.  Unfortunately there is nothing new going on with these ideas.

The mayor of Providence, RI wants to tax college students, or in this case probably the the college students via their universities.  Approximately $150/student is the floated number.  I want to issue a call to governments everywhere in the United States:  learn a lesson from this economic situation.  You cannot expect the economy to always be rosy nor revenue to always grow.  Deficits are the enemy of continued prosperity.

Local governments must take a careful look at their balance sheets as must state organizations and the federal government.  Efficiency is essential to a lean and well oiled machine.  It is inexucable for any government using my money and yours to decide to ask for more at times like this instead of trimming and cutting.  Companies across American are taking this time to become leaner machines.  Our governments should not miss this opportunity.

Cuts should be made before the people are expected to pony up more.

Obama’s Budget – Jared

I do not think I need to say anything, I’ll just give you the numbers.

New taxes for people making over $250,000 a year:

  1. $338 billion – Bush tax cuts expire
  2. $179 billion – eliminate itemized deduction
  3. $118 billion – capital gains tax hike

New Taxes on Businesses

  1. $17 billion – Reinstate Superfund taxes
  2. $24 billion – tax carried-interest as income
  3. $5 billion – codify “economic substance doctrine”
  4. $61 billion – repeal LIFO
  5. $210 billion – international enforcement, reform deferral, other tax reform
  6. $4 billion – information reporting for rental payments
  7. $5.3 billion – excise tax on Gulf of Mexico oil and gas
  8. $3.4 billion – repeal expensing of tangible drilling costs
  9. $62 million – repeal deduction for tertiary injectants
  10. $49 million – repeal passive loss exception for working interests in oil and natural gas properties
  11. $13 billion – repeal manufacturing tax deduction for oil and natural gas companies
  12. $1 billion – increase to 7 years geological and geophysical amortization period for independent producers
  13. $882 million – eliminate advanced earned income tax credit

SourceFederal spending is soaring.  Obama claims he can finance this by taxing the rich.  If you take everything they earn it still will not be enoughThis is class warfare.  Obama’s plan is going to destroy the middle class.

Its Only Been 4 Days and He’s Already Angered Me. – Tilly

President Obama lifted the ban on giving federal money to international groups that perform abortions on Friday.  President Bush implemented this policy early on during his administration.  Of course this comes as no surprise to me.  I believe and have said before that it will soon become clear that President Obama is the most pro-abortion President in American history.  So while the radical left-wing media continues to swoon over the new administration and as they continually remind you of how historic it is for an African American to hold such an office, don’t forget what this man stands for and don’t fail to criticize him for it.  It angers me that my tax dollars will now fund abortions around the world and I will not get swept up by the emotional whirlwind that most of America is currently caught up in.  

I want to give a shout out to the Vatican, who unlike many, publicly criticized Obama for his decision to overturn the ban.  The Vatican even had the balls to call President Obama arrogant. PROPS. We should be no less willing to voice our discontent with this new administration’s position on abortion.