Thursday, November 27, 2014

The Top 20% Support The Bottom 60%

In the sharpest rebuke to the notion that the "wealthy" don't pay their "fair share" of income taxes, the following graph shows that the top 20% of income earners substantially support themselves and  nearly all the others.  The bottom 60% receive far more benefits than they pay, mostly because they don't pay any income taxes! And yes, the graphs below reflect payroll taxes paid for all brackets.

Mitt Romney happened to mention this fact in a private campaign meeting and it was SO taken out of context by the evil media outlets in a massive and dirty smear tactic.  Thanks to that and Obama spouting his usual bullshit about "fairness," Mr. Wrong stole the election.  Now you and the rest of the world have to live with the massive incompetence of "wrong way" Obama.  Tricks and lies are the essential meaning of "progressive."

 From Carpe Diem blog:


In another remarkable graph below, the top 400 taxpayers pay almost as much income tax as the bottom 50%.   I don't want to hear that the wealthy don't pay their fair share ever again from Obozo or any stupid Democrat.  Also from the Carpe Diem blog:

.
It looks to me that the bottom 80% need to pay more taxes.  Let's say all income above the poverty line should be taxed at least 5% in income taxes (in addition to payroll taxes).    In that way, people trying to start a small business and files as an S-Corp or LLC should pay only 15% along with all corporations.

Mark Perry, who writes Carpe Diem blog is a professor of Economics and Finance at the University of Michigan.

Tuesday, November 25, 2014

Everyone Obsessing About Ferguson When Chicago Is Ground Zero of Violence

Since black persons (mostly black men) commit about 57% of gun homicides in this county which equates to well over 100 per week nationwide. That means that, in the past 15 weeks since Michael Brown's shooting, there have been over 1500 persons killed nationwide by black men by guns alone.  You don't hear about it because more than 90% of those crimes are committed against other black persons.  This is from the BJS (Bureau of Justice Statistics on Table 7)

I don't know about you, but I find that appalling.  It's ironic that a single incident in Ferguson is getting all the attention.

It turns out that Chicago, Obama's hometown, is at the "heart of darkness" when it comes to gun crime and homicides.  And it's because there's a shitload of black people living there.  Once again, sorry, but it's true.  Same in East St. Louis (including Ferguson).  East St. Louis is the most dangerous place in America. Same situation in Camden NJ.  Same situation in Detroit.  All these are predominantly black towns.  Black culture is clearly in collapse.

From Zero Hedge, here's a summary of the carnage in Chicago alone in the past 107 days:
  • 155 homicides (74% black males)
  • 725 shot & wounded
  • Six (6) 18 year olds killed: Kawantis Montgomery, Kamaal Burton, Tony McIntos, Alexandra Burgos, Rayvon Little, Johnathan Cartwright
  • 59 18 year olds shot & wounded
  • 29 teenagers (13-19) killed
  • 244 teenagers (13-19) shot and wounded
  • 10 shot (5 killed) by the CPD
Here's a graphic, also from Zero Hedge summarizing the situation there (click to enlarge):

CRIME IN CHICAGO SINCE FERGUSON INCIDENT
Given the orgy of crime just in Chicago, where's the media talking heads?  Where's the race hustlers Al Sharpton and Jesse Jackson?  Where are the politicians?  Where's the social justice activists?  What, no media coverage?   Where's the outrage?   Where's the solutions? 

This orgy of violence in Chicago, just in the 15 weeks since the Ferguson shooting, is going on when the nation is obsessing about a single (as it turns out justified) police action?   It's very ironic and very wrong.  Then, twelve thoughtful jurors, listening to all of the evidence including black witnesses to the incident in Ferguson, exonerated Darren Wilson and confirmed that he was protecting himself.   So, the whole Ferguson affair was all about nothing except one more hothead (young) black man acting out and behaving very violently.  Everyone could see from the convenience store video that Brown was a criminal thug but Media portrayed him as an angel which is part of the problem. Heck, MSNBC is still interviewing accomplice and liar Dorian Johnson!!  Idiots!!

Alternative high school education, killing teacher unions, more jobs from a better economy, restoring black families, bringing recognition of and arresting the black cultural collapse in this country are all things that I've written about frequently in this blog. 

There's calls for two state 'solution' for Israel. There's sort of a divide like that in Chicago, but like in Palestine, one of the two states is a failed state.

Monday, November 24, 2014

Unilateral Immigration Action By Obama Sure to Create Chaos

Obama and his unilateral action on immigration will likely flounder in failure like everything else where the President has become personally involved.  The Obama "touch" is like the reverse-Midas touch -- everything turns to shit.   For example, we're witnessing the "effectiveness" of the ISIS campaign also "managed" from the laziest White House ever.  This after Obama ignores his defense advisers.  Hmm, I wonder why we have a $700 billion per year defense establishment?

There's a big chance that the immigration gambit won't work either except to cause chaos since Obama is instructing entire portions of the government to ignore existing laws and procedures.

What will be the instructions to the border agents and ICE -- all employees of the Federal government?  What are their "marching orders?"  The President is telling the vast bureaucracies to ignore the laws on the books and follow his "speech" (and EO) for instructions.  Chaos is coming to ICE, homeland security and border control.  It's the kind of chaos that comes when Congress is not involved in creating and "fleshing out" law making.   A speech and a brief executive action is not new law.  It's an invitation for (more) chaos.

Expect the reverse Midas touch very soon. 

What's going to happen when the border erupts with large numbers of immigrants crossing into this country again?   It might even resemble a refugee crisis like what happened this summer -- all caused by your anarchist-in-chief.   Due to his loose lips vowing to not enforce existing immigration laws, the President effectively advertised an invitation for poor immigrants to come to this country and they did!

Since millions of undocumented persons already in the US will be desperate to act to take advantage of the President's offer, there will be a flood of paperwork sure to overwhelm the existing bureaucracy. Since the President is acting without the Congress, there will no money to hire more staff. What are the chances that the new immigrant visa applications are going to be handled with the care implied by the President in his speech? Who's going to handle the background checks? (I've already indicated that 'background checks' from Central American countries will be a big joke)  Who's going to staff organizations to do a large number of criminal record checks in this country?

And what about the legal immigrant application processing?  Surely legal immigration will grind to a halt.  And what will be the incentive for anyone to enter the legal path??

There's a chance that the border patrol unions might revolt too. Those guys are getting so whip-sawed by this administration, it's ridiculous. They might quit en mass except they know that Obama will be gone in 2 years.

How can reasonable people in Congress expect to work with such a loose cannon?  They can't!  That's the real reason there's no immigration reform in recent years!  Obama has already made certain that no one can trust him.   And he's making certain that no real immigration reform can be done in the next two years.

Not only is the President a fool, but he's incompetent and an anarchist.  That he doesn't know what he's doing is completely clear.  But he's clear about the Saul Alinsky playbook which calls for constant chaos and dissatisfaction to enact even more "emergency" measures that will be illegal since it's clear that Congress will never be able to work with this President.  The real problem is Obama is not competent enough to handle even the most basic aspects of his job.

On the bright side, in Obama, a creation and embodiment of the Liberal agenda, may ultimately prove to be the monster that destroys the Democratic party for a generation or more.

Sunday, November 23, 2014

An Immigration Speech Filled With Falsehoods and Deceptions

The President gave an impassioned speech on the need for immigration reform, but couldn't help blaming others (Republicans) for his own inaction and telling more lies.  Rather than calling for bipartisan dialogue and action, now more necessary now that the Republicans will control BOTH houses of Congress, he just says I'm going to do something (unilaterally) anyway.  Rather than acknowledging the significant election defeat,  he's playing games with our Constitution and snubbing the voter's rebuke of his policies.  It's like he's saying "f*** you" to most of this country.

He has taken executive "action" to change immigration law, that he said 22 times in various recorded speeches and appearances, is not in his power.  Was he wrong 22 times and right now?

There's a big chance that it won't even work except to cause chaos as he's instructing entire portions of the government to ignore existing laws and procedures. What's the chance of that working?  It amounts to more micromanaging from the laziest White House ever seen.  How's the WH's micromanagement of the ISIS campaign working out since Obama ignores his military advisers??

And why now? He promised Latinos that he would do something in 2009. He didn't lift a finger. Maybe because he was busy screwing up our country's health insurance marketplace?  And he had opportunity to act in 2010 and 2011. Democrats controlled both houses of Congress until 2012. Democrats could have done something legal in those years.  Finally, why did he wait to do this "dictatorial" action until after the 2014 mid-term elections?  Well, because people don't like dictators and Democrats would have been even more thoroughly defeated.

This President is unable to stop lying.  Here are some of the lies and deceptions embedded in the President's Speech (significant help from the Conservative Review's article by Daniel Horowitz) :

1) Other Presidents have done the same thing.  No, Mr. President they didn't do anything like what you've trying to do.  All other Presidents passed major legislation first.  Reagan and Bush enacted small executive orders AFTER Congress has passed new immigration LAWS in an effort to "fine tune" the law.  Then Congress then subsequently passed into law that "fine tuning."

All other Presidents have respected the US Constitution.  All other Presidents weren't hellbent on undermining our Constitutional system!  I'm not joking!  Welcome to ni**er nation!

2) Obama pretended that he's been enforcing the border and that immigration crossings are down.  Sorry, even idiots can see that Obama has been undermining border enforcement for years:  abusing asylum rules, reducing drastically deportations, busing illegals away from the border to cities all over the country, delivering illegal children to illegal families,  He's been a disaster when it comes to border enforcement.  He will continue to be a disaster.  This is why there wasn't a shred of hope of working with the Republicans last year on immigration law.  Nobody can trust Obama.

Let's be clear, few undocumented/illegals will be deported anytime soon.  And the President's actions will create a new wave of low-skill, low-information Central American immigrants and they won't be deported either.  No one will be sent home (except maybe Mexicans).  And, as noted in Conservative Review "he is unilaterally abolishing the Secure Communities program, the only successful interior enforcement program left after he abolished 287g state-federal cooperation in 2012- all this when we face a new threat of Islamic terrorism."

3) Only 5 million will be affected.  Given this President's lawlessness, he'll act in a way to include 10s of millions illegals immigrants in the country.  After all, he is now the emperor of America now and no one will stop him.  Never mind the rebuke of the mid-term elections!

4) Background checks will be performed.  What a complete joke!  No legitimate background checks will be made as Central American countries are famous for fake documents. Plus, there are no competent governments in this part of the world.  For instance, do think the government of Guatemala will be able to process large numbers of information requests?   Not a chance!  EVERY citizen in Central America is extremely incompetent - and they are coming here in droves.

5)  Immigrants will have to pay taxes.  Maybe they will ultimately pay payroll taxes, but probably won't make enough money to pay income taxes.  First of all, due to Obama, the country is not creating low-level jobs at all.  And black person's unemployment is still double digits!  No employment = no taxes paid.  But their children will be enrolled in local schools and emergency rooms will be crowded by people seeking free treatment.  As an aside, how are all of these people going to find housing?

7) Obama will focus on deporting felons.  Sorry, again this administration has done the opposite.  According to Daniel Horowitz at Conservative Review,   "36,000 convicted criminal aliens were released last year, 80,000 criminal aliens encountered by ICE weren’t even placed into deportation proceedings, 167,000 criminal aliens who were ordered deported are still at large, 341,000 criminal aliens released by ICE without deportation orders are known to be free and at large in the US.  Again, this is cessation of deportations for everyone. They are leaving no illegal behind."   A lawless President is bring lawlessness to your community and you're supposed to be happy??

The President's action will remove any incentive to enter the existing "legal" system.  Why bother, when you can just come here and hang out? (Hang out until they find out that there are no/few jobs).  But hey, the kids, who don't speak English, will clog our schools and create a burden on 1000s of local communities.

Complete chaos will result when a new flood of immigrants arrives. And how will the existing bureaucracy handle the flood of new immigration applications?  They won't!  As a result Legal immigrants will be pushed to the back of the line to process the mountain of paperwork of the new applicants.

Wednesday, November 19, 2014

Obama Said 5 Times That He Doesn't Have The Power to Change Immigration Law On His Own

Obama has said on video tape at least 5 times in interviews and speeches that he doesn't have the power to enact immigration reform outside of Congress.  See the Breitbart article and the video evidence here.

Oh course, now he's changed his mind; contradicting himself by vowing to act on his own and assume powers that he's admitted 5 times that he doesn't have.   And he's going to act despite the fact that the voters spoke loudly against him in the mid-term elections.  

What we have here is a radical politician individual, cornered now by polls and an election rebuke, acting out of desperation.  And despite the election results, he's said that he can't wait and must act now because the Congress won't act.  But he's not talking to the Republicans and never has.  He's not now and never has tried to negotiate ANYTHING.  Remember, in the Saul Alinsky playbook, talking to the opposition is admitting that they are human!  It is Obama and Reid who have shut down Washington, not the Republicans.  After all, there are some 380 bills passed by the House sitting on Harry Reid's desk. Vilifying the Republicans is job one.

Obama and Democrats are hellbent on bringing in low-information poor people from Central America (and sending Mexicans home).  For what?  It doesn't help America in any sense. The answer is that Democrats now are desperate to get more low-information voters.  After all, as the Jon Gruber scandal has shown, Democrats rely on "stupid"voters and voters that don't understand economics to enact their agenda.

The new Congress will act to de-fund his illegal actions in January by budgetary means at a minimum.

There is no substitute to talking to the other side of the aisle.  That's his job and he's not up to the task.  This guy is so incompetent that he is traumatized by the ordinary duties of his office.

Tuesday, November 18, 2014

All You Need to Know About Democrats and Jon Gruber in 2 Minutes

Watch your lying sacks of shit (Democratic) politicians caught red-handed in lie after lie after lie.  (Hat tip to Zero Hedge)

They do have contempt for you, they will lie to your face, they think you are stupid, they are hell-bent on imposing harmful and costly redistribution programs (ObamaCare).   I hate to be partisan here, but I've never heard Mitch McConnell lie to my face.   I've never caught John Boehner lying to my face either.  

The President should be particularly repentant since Jon Gruber visited the White House 19 times and sat in the Oval Office for 4 hours at least one time.   But you never get any responsibility, never get accountability, never get an apology, never admit that wrong things are done from this President.  He's a disgrace.


Monday, November 17, 2014

Obama Lying to Cover Other Lies

This week, Democrats tried to pretend that they don't even know Jonathan Gruber, who was paid millions of dollars by a half dozen states and $400,000 by the Federal Government to craft and "sell" ObamaCare.  He has exposed (and confirmed) that everything important about the law was a deception and passage of the law depended on public's "stupidity." 

Nancy Pelosi, in response to a question about Jon Gruber this week, feigned a "who's Gruber?" response.  She's a serial liar.  So is Obama.

Obama said this week that Jonathan Gruber "was just an adviser who never worked on our staff [who] expressed an opinion that I completely disagree with."  He said that to try to distance himself from extremely telling and damaging remarks that ObamaCare was a pack of lies from the very beginning. See here and here.

Senator Obama, in 2006, bragged that "he borrowed ideas from the the brightest minds from academia and policy circles.   I have stolen ideas from liberally, people ranging from Robert Gordon to Jon Gruber"  See here for the link to the video. (h/t to Zero Hedge)

Check it out (from 2006):


Lies, lies and more lies.  This guy is a pathological liar.  Jonathan Gruber was a key player in the ObamaCare fiasco and he has said as much.

Saturday, November 15, 2014

Canadian PM Harper to Putin: "Get Out of Ukraine"

In a refreshing bit of clarity from a political leader in a "diplomatic" situation, Canadian Prime Minister Stephen Harper abruptly confronted Vladimir Putin at the G-20 conference in Brisbane Australia.

Putin was wandering around in an awkward search of a hand to shake when he went up to Harper.  Harper is reported by Harper's spokesman to have replied to him abruptly:
Putin approached Harper and stuck out his hand to shake the Canadian prime minister’s, said MacDonald.
After months of public condemnation of Russia’s annexation of Crimea and its military support for separatist rebels in Ukraine, Harper accepted the handshake with a blunt message.
The prime minister said: “Well, I guess I’ll shake your hand, but I only have one thing to say to you: you need to get out of Ukraine,” recounted MacDonald.
 Nice job Stephen Harper!

ObamaCare Law Intended to Withhold Subsidies In States That Did Not Set-up Exchanges

We can thank ObamaCare architect Jonathan Gruber for frankly exposing the fact that the Democrats intentionally lied about aspects of the ObamaCare law in order to get it to pass. Not only did they lie about what the law was about, but they clearly had contempt for the "stupid" voting public to press their lies.

Jonathan Gruber, in another video, clarified another true intent of the ObamaCare law. The law is written clearly that only persons in States that have set-up their own healthcare exchanges get the subsidies -- but the citizens in those states still pay the O'care taxes. Thirty seven states did not set up the exchanges as the law also allows. But the intent was to coerce the States to set-up the exchanges.

All of this is extremely relevant now that the Supreme Court has decided to take up the case where the plaintiffs are correctly claiming that the administration is violating the plain text of the law by providing healthcare subsidies to everyone. And of course the subsidies are key to shielding people from the ridiculously high prices on offer. Without Federal subsidies, very few can afford O'care policies. Some 90% of the people enrolled in O'care get subsidies.

Gruber said
“I think what’s important to remember politically about this is, if you’re a state and you don’t set up an exchange, that means your citizens don’t get their tax credits,”
 "But your citizens still pay the taxes that support this bill. So you’re essentially saying to your citizens, you’re going to pay all the taxes to help all the other states in the country.”
Charles Krauthammer explained the plainly written intent of the law:
This may have been a stupid idea, but it was no slip. And it’s the law, as written, as enacted and as intended. It can be changed by Congress only, not by the executive. Which is precisely what the plaintiffs are saying.
You can imagine that the Supreme Court justices are reading and noting these revelations.  Let's hope so.  Democrats are a bunch of liars and tricksters with Obama being the worst one of them all. 

Remember, tricks and coercion are very much part of propagating the Liberal agenda.  Without tricks and coercion, people won't accept what Liberals are offering!

Friday, November 14, 2014

Central Planning Nightmare: China and Ghost Cities

For decades in the 60s and 70s, the CIA overestimated the size of the Soviet Union GDP by a wide margin. Part of it was because of an ongoing "red scare" due to the actual superiority in the number of nuclear missiles that they possessed. Even the likes of Paul Samuelson gave the Soviets undue credit for their centrally-planned economic "success" in numerous editions of his economics textbooks. But when the Soviet Union fell apart, the ruble crashed so hard that the Russian people became the poorest people on the face of the earth - bar none.

Even now after decades of "recovery" the size of the Russian economy is only $2 Trillion vs $14 Trillion for the US or about 10% of the size of the US economy.

The myth of central planning "success" was exploded for everyone to see (except the likes of Obama). The fact is that central planning ultimately leads to collapse and poverty. But it's that collapse and humiliation that has resulted in the rise of Hitler-like Putin, who is trying to reclaim Russian pride by his macho saber-rattling and military adventures in Eastern Europe. I say Hitler-like, because Hitler's rise was due, in part, to the humiliation that Germany suffered as a result of the Versailles treaty after WWI and the burden of reparations payments. Putin and Russian citizens feel the same type of humiliation due to the collapse of their empire and resulting chaos and poverty. Putin apparently vows to recover their honor in ways that upends the Post Cold War peace.

Like coverage of the Soviet economy, over-stating and over-hyping the apparent success of the Chinese economy is happening now. News headlines proclaim that China is now the world's largest economy, etc, etc. And liberal commentators are happy to point out the apparent "success" of their centrally planned economy to support the argument for more central planning in the US. Ironically, it's the introduction of Capitalism by Deng Xaoping that is responsible for the success of their manufacturing sector. But over 50% of recent year's of Chinese GDP "growth" has been debt-financed government "investments."

What counts as "GDP" includes government spending to construct China's ghost cities and other projects that are mandated by bureaucrats in Beijing -- whether there is demand or not. No need for marketing analysis, economic modeling or any economic justification! They call 'em ghost cities for a reason! They are mostly empty and depreciating. When they are demolished, will the Chinese reduce their reported "GDP" to account for that? Not a chance. And what happens to the debt? It's still there or "absorbed" by the government.

To fund this construction, gargantuan spending has bought Chinese debt to levels that usually indicate debt saturation and even crisis in a shockingly short period of time. See here. There's only so much debt even a centrally planned economy can take on. All developed and developing economies are now debt-saturated. China has arguably reached that level too.

China's Manhattan and Paris Ghost Cities


China, known to copy(and monetize) everything that they can get their hands on (including what they can steal via cyber-espionage), have built cities that resemble Paris and Manhattan at a cost of about $50 Billion each.  Take a look at a preview film from NBC News about the "Manhattan duplicate."  The link to the full story and write-up is found here.  It's worth a look!

Welcome to "GDP growth" in China:

video


Empty "Copy" of Paris in China. Mimicking is the sincerest form of flattery?

How do you think all of this going to end?   

Thursday, November 13, 2014

Put A Bank's Entire Executive Suite In Jail

What do Sweden, Iceland and now Afghanistan have in common?   They put bank executives in jail should there be mismanagement that leads to government assistance or damage to depositors.   Sweden and Iceland fire the entire executive suite and jail senior executives in the case of incompetence and/or malfeasance.

Afghanistan also jailed two executives for fraud in a 2010 bank failure that amounted to about 5% of the country's GDP.  From AP (h/t to Zero Hedge)
Two senior officials of an Afghan bank that collapsed beneath almost $1 billion in debt were sentenced in a Kabul court on Tuesday to 15 years prison each for embezzlement and fraud. The scandal in 2010 shook confidence in Afghanistan's tiny banking sector.
These practices work. You don't need onerous oversight, a big bureaucracy and 10s of thousands of pages of regulation such as the still unfinished Dodd Frank law to fix the banker's excesses -- just plain and simple financial malfeasance laws that allow serious prosecution of the excessive risk takers.  That and conservative mandated capital levels and get rid of ALL of  the off-balance sheet items/accounting that allow banks to hide problems.   Oh, and by the way, outlaw CDOs and other complex derivative positions for US banks.  They are speculations that have little to do with banking!

Monday, November 10, 2014

ObamaCare Architect Admits Lies Were Key to Law's Passage

I've written many times that the liberal agenda is imposed by tricks and lies. People won't want what they are actually selling you!  ObamaCare is the prime example now that everything said to "sell" the law has been proven untrue.  You can't keep your plan, you can't keep your doctor, it costs much more not less, it does increase the budget deficit, it does have a death panel, and good luck finding a doctor.  After all that, you're still stuck with a very high deductible that most families can't afford!

Now the architect of ObamaCare Jonathan Gruber, a co-conspirator in the lies of ObamaCare said in an interview
This bill was written in a tortured way to make sure CBO did not score the [individual] mandate as taxes.  If CBO scored the mandate as taxes, the bill dies.

In terms of risk-rated subsidies, if you had a law which said healthy people are gonna pay in — you’ve made explicit that healthy people pay in and sick people get money, it would not have passed.  Okay?  Just like the...people — transparent — lack of transparency is a huge political advantage.  And basically, you know, call it the stupidity of the American voter or whatever.
I rest my case.  The Left and the Democrats are a bunch of liars and cheats.

The irritating irony is that the Supreme Court narrowly upheld the law by a tortuous interpretation of the individual mandate as a tax.   But the individual mandate was sold to Congressmen as NOT a tax! 

What's worse is that now that all of the bill's lies are exposed, we're told that it can't be fixed or repealed.  All to assuage the ego of our idiot-in-chief.   It's all screwed up thanks to the lying sacks of shit otherwise known as Democrats.  Eventually this law will completely or largely go away as most people still don't want anything to do with it.