We hear all the time about how the rich aren't paying their" fair share" of taxes and that we should probably impose a millionaires tax on them so they pay more(note that most "millionaire taxes" would start at an income of about $500,000 per year). This would help balance the State and Federal budgets that are out of control because governments only know how to do one thing - spend taxpayers money. Now, the "rich" are the people who provide capital for new business start ups, start businesses on their own, or invest in stocks or bonds which provides capital to other businesses who expand their businesses resulting in job increases. It's an old cliche, but did you ever get a job from a poor person?
What exactly is the rich's fair share of taxes? 25%, 50%, etc.?
Here are some figures from a 2005 CBO (Congressional Budget Office) study from 2005. The study shows the breakdown of what income levels of the total nationwide income is earned by different groups and what percentage they pay in taxes.
Taxpayers % Earned of Total Income Total % of Taxes Paid
Top 1% 18.1% 38.8%
Top 5% 31.1% 60.7%
Top 10% 40.9% 72.7%
Top 20% 55.1% 86.3%
Middle 44% 39.9% 16.6%
Bottom 20% 4.0% -2.9%
There is your proof of how "little" the "rich" are paying. The top 20% of wage earners are paying 86.3% of the tax load, but are making only 55.1 % of the income. The bottom 20% actually pay less than zero because of the "Earned Income Tax Credit" that gives "tax refunds" to people who don't pay taxes.
Five Presidents in the last 90 years have cut taxes and regulations and in each instance it resulted in robust economic growth with the resulting huge decrease in unemployment, Warren Harding, Calvin Coolidge, Ronald Reagan, George W. Bush, & John Kennedy. Raising taxes always has the opposite "job killing" results.
"If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your counsel, nor your arms. Crouch down and lick the hand that feeds you; May your chains set lightly upon you, and may posterity forget that ye were our countrymen." - Samuel Adams
Thursday, February 25, 2010
Sunday, February 21, 2010
Egg On My Face
On February 19, I published the post "Shotgun Preteen vs. Illegal Immigrant Home Invaders". It turns out that the story is not true. So I stand corrected. That being said, however, while that particular story is untrue, incidents like that happen every day across this great land of ours. Guns in the hands of ordinary law abiding citizens stop anywhere between two and four million crimes a year, depending on what study you look at. In the overwhelming numbers of cases, no shots are ever fired. Just showing a gun makes the "bad guys" flee or give up. The police are not required to protect you from crime. That is the law based on the 7th Circuit Court of Appeals decision, Bowers v. Devito, in 1982. The decision said there is no constitutional right to be protected by the state against being murdered by criminals or madmen. So if the police or government don't have to protect you, then I guess you are on your own. Reminds me of the bumper sticker "A gun in the hand is better than a cop on the phone". Makes sense to me.
Friday, February 19, 2010
Shotgun Preteen vs. Illegal Immigrant Home Invaders :
Got this interesting tidbit from my buddy, Steve. Do you think this young girl might have been raped and murdered if she didn't know how to shoot and had a gun available?
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Thursday, February 18, 2010
So You Want Big Government Taking Care of You?? How Many Other Places is This Happening.
Suit: Pa. school spied on students via laptops
PHILADELPHIA (AP) — A federal lawsuit accuses a suburban Philadelphia school district of spying on students at home through school-issued laptop webcams.
The suit says Lower Merion School District officials can activate the webcams remotely without students' knowledge. The lawsuit alleges the cameras captured images of Harritan High School students and their families as they undressed and in other compromising situations.
Families learned of the alleged webcam images when an assistant principal spoke to a student about inappropriate behavior at home.
Superintendent Christopher W. McGinley did not immediately return a message left by The Associated Press.
MARYCLAIRE DALE
From Associated Press
February 18, 2010 12:45 PM EST PHILADELPHIA (AP) — A federal lawsuit accuses a suburban Philadelphia school district of spying on students at home through school-issued laptop webcams.
The suit says Lower Merion School District officials can activate the webcams remotely without students' knowledge. The lawsuit alleges the cameras captured images of Harritan High School students and their families as they undressed and in other compromising situations.
Families learned of the alleged webcam images when an assistant principal spoke to a student about inappropriate behavior at home.
Superintendent Christopher W. McGinley did not immediately return a message left by The Associated Press.
Monday, February 15, 2010
Those Evil Republicans !! - Geez! We Can't Pass Anything With Them Around
I suppose you've heard about those "Evil Republicans" down there in Washington, D.C. The party of "No".
I mean they won't participate in the debate on health care and they're holding up everything. They won't work with the Democrats and help develop a Bipartisan bill. I mean, how could they? Don't they care about the poor people who have no health coverage? First of all, anybody in this country can get medical treatment. All they have to do is show up at the local emergency room, and by law they cannot be turned away, even if they can't pay. Secondly, the Democrats definition of "bipartisanship" is "you agree with us totally, and throw your beliefs and ideas out the window". Thirdly, the Democrats (until Scott Brown's election in Massachusetts) had a 60 vote filibuster proof majority in the Senate and an overwhelming majority in the House. They could have passed anything they wanted, but it was infighting within the Democrat party that prevented the bill from being passed. Now they are trying blame the Republicans for THEIR own failure. The Democrats want Republican fingerprints on this "abortion" they call "Obamacare", so they can share the blame. If the Democrats want to pass it, I say go ahead and we'll see you on November 2.
I mean they won't participate in the debate on health care and they're holding up everything. They won't work with the Democrats and help develop a Bipartisan bill. I mean, how could they? Don't they care about the poor people who have no health coverage? First of all, anybody in this country can get medical treatment. All they have to do is show up at the local emergency room, and by law they cannot be turned away, even if they can't pay. Secondly, the Democrats definition of "bipartisanship" is "you agree with us totally, and throw your beliefs and ideas out the window". Thirdly, the Democrats (until Scott Brown's election in Massachusetts) had a 60 vote filibuster proof majority in the Senate and an overwhelming majority in the House. They could have passed anything they wanted, but it was infighting within the Democrat party that prevented the bill from being passed. Now they are trying blame the Republicans for THEIR own failure. The Democrats want Republican fingerprints on this "abortion" they call "Obamacare", so they can share the blame. If the Democrats want to pass it, I say go ahead and we'll see you on November 2.
Phil Jones/ Climate Change/ The Polar Bears are Saved!!!!
Heard about this on "Sound off Connecticut" (WTIC 1080-AM, 9:00-12:00AM) this morning. Didn't think I heard what I thought I heard, so I went digging.I found the following quote on American Thinker.
"By now, Phil Jones of the University of East Anglia’s Climatic Research Unit (CRU) should require no introduction, so let’s get right to it. In a BBC Q&A, and corresponding interview released Friday, the discredited Climategate conspirator revealed a number of surprising insights into his true climate beliefs, the most shocking of which was that 20th-century global warming may not have been unprecedented. As the entire anthropogenic global warming (AGW) theory is predicated on correlation with rising CO2 levels, this first-such confession from an IPCC senior scientist is nothing short of earth-shattering...............................
Imagine a man who has spent the better part of the past 25 years toiling to convince the world of CO2-forced 20th-century warming now admitting that the difference in warming rates for the periods 1860-1880, 1910-40 and 1975-2009 is statistically insignificant. Jones even acceded that there has been no statistically-significant global warming since 1995; that in fact, global temperatures have been trending to the downside since January of 2002, although he denied the statistical significance of the -0.12C per decade decline."
Hey, Al Gore, are you still out there flying around in your private jet spewing your drivel??
"By now, Phil Jones of the University of East Anglia’s Climatic Research Unit (CRU) should require no introduction, so let’s get right to it. In a BBC Q&A, and corresponding interview released Friday, the discredited Climategate conspirator revealed a number of surprising insights into his true climate beliefs, the most shocking of which was that 20th-century global warming may not have been unprecedented. As the entire anthropogenic global warming (AGW) theory is predicated on correlation with rising CO2 levels, this first-such confession from an IPCC senior scientist is nothing short of earth-shattering...............................
Imagine a man who has spent the better part of the past 25 years toiling to convince the world of CO2-forced 20th-century warming now admitting that the difference in warming rates for the periods 1860-1880, 1910-40 and 1975-2009 is statistically insignificant. Jones even acceded that there has been no statistically-significant global warming since 1995; that in fact, global temperatures have been trending to the downside since January of 2002, although he denied the statistical significance of the -0.12C per decade decline."
Hey, Al Gore, are you still out there flying around in your private jet spewing your drivel??
Saturday, February 6, 2010
Quiz answer
The answer is JFK. Just goes to show you how much the Democrats have changed in the last 50 years.
Record storm
A huge blizzard has whacked the mid-Atlantic States with over two feet of snow. States and towns have declared states of emergency, airports are closed, hundreds if thousands of people are without power, and now that the storm is over, I have one question - Where the hell is FEMA?????
Friday, February 5, 2010
Barack Hussein Obama: I Told You So, Yes I Did
Got this from my Buddy, Dave
By Howard Galganov
Montreal, Quebec, Canada
By Howard Galganov
Montreal, Quebec, Canada
When Obama won the presidency with the help of the leftist media, Hollywood and entertainment liberals, ethnic socialists (ACORN), stupid non-business professionals and Bush haters, I wrote: It won't take six months until the people figure this guy out and realize how horrible a mistake they've made. And when they come to that realization, the damage to the United States of America will be so great it will take a generation or more to repair - IF EVER. The IDIOTS who not only voted for the messiah, but also worked hard to promote his lordship, are now left holding the bag. Here are two things they will NEVER do: they will NEVER admit to making a blunder out of all proportion by electing a snake-oil salesman with no positive social history or management experience of any kind. They will NEVER take responsibility for the curse they've imposed upon the immediate and long-term future of their country. In essence, the people responsible for putting this horror show in power are themselves responsible for every cataclysmic decision he makes and the consequences thereof. In just six months, the messiah's polls are showing the following: on Healthcare Reform, he's going under for the third time with polling well under 50 percent, even within his own party. Even though he might be able to muscle a Healthcare Reform Bill by using Chicago bully tactics against his fellow Democrats, it will just make things worse. On Cap and Trade (Cap and Tax), the fat lady is already singing. On the Stimulus Package (Tax and Spend), his popularity is in free fall. On the TARP package he took and ran with from President Bush, it's all but Good-Night Irene. On the closing of GITMO and "his" war on what he no longer wants called the War On Terrorism, he's standing in quicksand with his head just about to go under. On a comparison between himself and George W. Bush at the same six months into their respective first term presidencies, Bush is ahead of him in the polls. On a comparison between "he who walks on water" and the 12 preceding Presidents between WW II and now, Obama ranks 10th. On a poll just conducted, that asks who would you vote for today between Obama and Mitt Romney, it's a dead heat. Between Obama and Palin, Obama's only ahead by 8 points and she hasn't even begun to campaign! It seems to me that Obama wants to be everywhere he shouldn't be. He's personally invested in totally insulting America's only real Middle Eastern ally (Israel) in favor of Palestinian despots and murderers. He's traveling the world apologizing for the USA while lecturing others on how to do it right, when in fact and truth he has no experience at doing anything other than getting elected. He went to the Muslim world in Egypt to declare that America "is not a Christian nation" while he heaped praises on Islam, where he compared the "plight" of the Palestinians to the Holocaust. The Russians think he's a putz. The French think he's rude. The Germans want him to stop spending. The Indians want him to get his nose out of their environmental business. The North Koreans think he's a joke. The Iranians won't acknowledge his calls, and the British can't even come up with a comprehensive opinion of him. As for the Chinese, he's too frightened to even glance their way.. (After all, China now owns a large portion of the United States . Maybe if America 's first emperor would stay home more, travel less, and work a little bit instead of being on television just about everyday (or forget about his Wednesday date nights with his amazon wife) or stop running to "papered" Town Hall Meetings, perhaps he would have a little bit of time to do the work of the nation. In all fairness, it wasn't hard to be right in my prediction concerning Obama's presidency, even in its first six months, so I'm going to make yet another prediction: OBAMA WILL PROBABLY NOT FINISH HIS 4-YEAR TERM, at least not in a conventional way. He is such a political horror show, and so detrimental to the USA and his own Democratic Party, that the Democrats themselves will either force him to resign or figure out a way to have him thrown out. Who knows, maybe he really isn't a born US Citizen and that's a way the Democrats will be able to get rid of him. Or, more likely than not, the Democrats will make Obama THEIR OWN LAME DUCK PRESIDENT. I don't believe the Democrats have nearly as much love for their country as they do for their own political fortunes. And with Obama, their fortunes are rapidly becoming toast. The Democrats can keep on blaming Bush for everything, but that game's already begun to wear real thin. |
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