Please see the video clip below:

CNN Most Popular - Save and Create Jobs


Proof of the double speak referenced in my last post. According to Dr. Bernstein himself in the Promer-Berstein Report (Jan 09) they predicted that the stimulus bill would keep unemployment below 9% (more like 8%). Now we're over 9% and they call that saving or creating 150,000 jobs.

Maybe my math and logic skills are rusty, but if the Obama Stimulus Plan was to keep unemployment low, and we've exceeded their numbers, how do you call that job creation? If I don't fire any of my employees, does that count towards the number of jobs saved? If over the normal course of business (not as a result of the stimulus bill-which hasn't helped my business) I hire more employees, does that count as jobs created?

This has gone much farther than political double-talk. Maybe we should call it "Obamics": the merging of Obama economic theory with political talking points to create a new 'truth' that is unproveable.

McGurn: The Media Fall for Phony 'Jobs' Claims - WSJ.com

For all the Democrats and Liberals out there; I have one question: you accuse Conservatives for following Limbaugh and others blindly, but I wonder who truly are the lemmings?

More on the Bill

Apart from the Troubled Assets Relief Program, the bill before the Senate includes:

• Extensions of the AMT patch, tax deductions on state and local sales taxes, tuition, teacher expenses and real property taxes and tax credits for business research and new market investors
• Energy tax credits and incentives to encourage wind and refined coal production, new biomass facilities, wave and tide electricity generators, solar energy property improvements, CO2 capturing, plug-in electric drive vehicles, idling reduction units on truck engines, cellulosic biofuels ethanol production, energy efficient houses, offices, dishwashers, clothes washers and refrigerators, and fringe benefits for employees commuting by bicycle.
• A requirement for private insurance plans to offer mental health benefits on par with medical-surgical benefits
• Tax relief provisions for victims of this summer's Midwestern floods, and Hurricane Ike
• Freezing of deductions for sale and exchange of oil and natural gas, mandatory basis reporting by brokers for transactions involving publicly traded securities and an extension of the oil spill tax

But it also extends the following tax provisions:

• Economic development credit to American Samoan businesses
• $10,000 tax credit for training of mine rescue team members
• 50% immediate expensing for extra underground mine safety equipment
• Tax credit for businesses with employees from an Indian reservation
• Accelerated depreciation for property used mostly on an Indian reservation
• 50% tax credit for some expenditures on maintaining railroad tracks
• 7-year recovery period for motorsports racetrack property
• Expensing of cleaning up "brownfield" contaminated sites
• Enhanced deductions for businesses donating computers and books to schools, and for food donations
• Deduction for income from domestic production in Puerto Rico
• Tax credit for employees in Hurricane Katrina disaster area
• Tax incentives for investments in poor neighborhoods in D.C.
• Increased rehabilitation credit for buildings in Gulf area
• Reduction of import duties on some imported wool fabrics, transfers other duties to Wool Trust Fund to promote competitiveness of American wool
• Special expensing rules for film and TV productions

And there's more:

• Increasing cover of rum excise tax revenues to Puerto Rico and the Virgin Islands
• Making it easier for film and TV companies to use deduction for domestic production
• Exempting children's wooden arrows from excise tax
• Income averaging for Exxon Valdez litigants for tax purposes

 

1. Take an unpopular bill (ie. The Emergency Economic Stabilization Act of 2008) and vote it down in the House of Representatives by a significant margin.
2. 2.       Give the bill to the Senate and let their greedy hands get all over it by taking a 100 page bill and adding 300+ pages of PORK to garner the support of your peers.
3. 3.       Call a vote which you know will succeed because you added enough for all the greedy Senators and call it a “bi-partisan” victory.
4. 4.       Hand the bill (which by the way is still a bad bill, if not worse) back to the House and dare to call them fools for not passing the original bill—and don’t forget to blame Republicans, President Bush.
5. Result: Get the largest socialist program this country has ever seen, complete with the added bonus of enough PORK to ensure that the taxpayer will never see any return for Washington’s original follies.

An Op/Ed in The Wall Street Journal (12/27/07) today made me wonder.  What is it about the current crop of Republican candidates that we can’t decide whom we want as our President?  Later, listening to a few minutes of the Rush Limbaugh program, the guest host was speculating on the same subject.  I guess he too read the article.  He made an interesting comment about the Democrats though.  He suggested that their primary purpose of the election was more about winning than about the individual candidate.  If Obama can beat the Republican, then vote for Obama; if Hillary can win, vote for Hillary.  I did not have a chance to listen to the entire commentary, but I got what I believe is the gist of it. 

 

Why are the Republicans so different?  Do we care more about the person?  Are we generally not enthusiastic about our choices?  Are we depressed about the fact that no matter who runs on our ticket they have an insurmountable uphill battle in the media?  I do not have the answer to these questions, but I do have a theory.

 

In general, Republicans believe in the Founding Fathers and what they were fighting for some 230 years ago.   Look at where our candidates today.  Do any of them, Republican or Democrat, reflect the attitude or spirit of what America is, or makes it great?  No.  For the most part these guys are a bunch of professional politicians.  What drives politicians?  Let’s put it this way—it isn’t life, liberty, or the pursuit of happiness. 

 

But what about Fred or Mitt, they are career politicians, one is an actor and the other was in business.  True, but does either one inspire you?  Do they suggest that we make the necessary fundamental changes to our government that will realign them with what our Founding Fathers had intended?  Not a one. 

 

Despite everything I’ve written thus far, I still support Fred Thompson, as he seems the most genuine and down-to-earth candidate of the lot.  Am I happy with his campaign?  No.  Do I wish he would stand up and fight (like many of the characters he’s portrayed)?  Heck yes.

 

When it comes down to it, Republicans aren’t picky or indecisive; nor do we want any candidate that can win.  We want a candidate that inspires.  We want a candidate that understands that Washington isn’t the center of the Universe.  We want a candidate that will return power and freedom to the American people.  Is this too much to ask?

While reading the Wall Street Journal, editorial page I believe, the writer brought up the American motto "E Pluribus Unum", "Out of Many, One". Later, while chatting with my wife about some of the curriculum changes at one of my children’s' school, I was reminded about this.

The school, well known for the diverse culture of its students, is adding diversity (cultural not racial) classes next year. That is really nice I thought. It is important for children to learn about other cultures from around the world. Ultimately, it makes us more competitive in the global market. Knowledge and understanding of the people we do business with allows us to create products and services that best suite their needs.

I realize that my child's school does not think about the economic impact of this type of education, but it is nice to know there is a real-life benefit to some of the touchy-feely stuff they throw at our kids.

Back to my point. Schools are spending significant time and energy teaching our children reading, writing, and arithmetic; as well as diversity (mostly ethnic), socialism, not keeping score, and singing kumbaya. What happened to the schools responsibility of teaching American Culture and what it means to be American? What is more important, teaching children about Boxing Day in Canada or the great American Melting Pot?

I choose the melting pot. When we look at the status of immigrants in America, are they joining us by integrating parts of their culture into ours, or are they carving out holes in the fabric of our nation to insert their ideals without mingling with ours. Rush Limbaugh put it eloquently by referring to this issue as “hyphenated Americans”. Fundamentally who are we; what is America. Are we one nation out of many, or are we many people who happen to live here.

Maybe it’s time we all think about where we came from and how those diverse cultures have added to what it means to be American. This country is so much more than the sum of its parts; let us keep it that way. When asked who you are, answer “I’m an American, I may come from ____________ (insert part of world/culture), but I’m American and that is what is truly important.”

Frankly, I don't know why the elected officials can't seem to get anything done right.  The proposed Immigration bill is a classic example of a good idea gone awfully wrong. 
I have heard the pundits commenting for some time that we aren't enforcing the laws already on the books.  Why is that?  Are the existing laws bad?  Are they impractical? OR is the system broken and are we possibly too lazy to try to make it work.  I have yet to hear one of our elected officials say "let's enforce the existing laws for a change." 
Instead, Washington, in their ulitmate wisdom, comes up with another attempt to solve a problem.  True to whom they are, rather than a simple solution that might work, they come up with an overly complex system that, at best, might stem the flow of illegal immigrants for a short while.  BUT, for those who can gain the support of this overly hispanic proportion of immigrats, could gain a voting constituancy that will last like the Black populations' loyalty to the Democrats. 
As I alluded to, the politicians could have come up with a much simpler solution that has a higher probability of working and would cost very little to enforce and maintain.  The real immigration problem is that there is a monetary incentive for both the illegal immigrants and the people who employ them.  Remove the incentive and much of the problem wiil be solved.  People cross the border because there are jobs.  If the government charged a fine to the employers of illegals in the tune of $25,000 per individual (or more) and rigorously enforced it, the financial benefit of low-cost undocumented workers would be offset by the high cost of defense and potential fines imposed on those employers.  Let's face it, it would only take a few high profile legal actions by the government for companies to take notice and change to happen. 
Will this solve the issue?  No, but it would be far more effective than Congress' current attempt.

I have been casually following this bill.  For those who are unaware of it, this bill would almost single-handedly put "adult entertainment" establishments out of business.  The bottom line, as I see it, if you don't like those types of places--STAY AWAY FROM THEM!  Don't legislate them out of existance.

That being said, if I were a proprietor of one of these businesses, I would search for a loop-hole in the legislation.  Based on my cursorary reading of the bill, I think I may have one.  Turn your club into a "private, members only establishment".  Charge a membership fee (could be a daily membership fee) and then you are no longer open to the public.  Just a friendly idea for all.

I am personally sick and tired of groups of people that want to legislate our lives and limit our liberties.  It does not matter whether you approve or disapprove of this issue.  The Constitution grants us the inalienable rights of Life, Liberty, and the pursuit of Happiness.  Why are we so eager to give up those rights to appease a small group of people?  Why not just let the market decide?

The difference between tax evasion and tax avoidance:  One is illegal while the other is a moral imperative.

Welcome to my blog: The TPS Report!

Despite the obvious reference to the movie "Office Space", this blog will actually mean something.  This is my opinion and critique of Taxes, Politics, and Society.  I hope you enjoy this as much as I enjoy putting this together.