Tag Archives: Tax

Businesses Are Not Leaving Cali? – More Liberal Spin

 One of the most frustrating things for me as a citizen journalist is the confrontation, (daily), of eggheads and so-called experts that defy common sense. Nothing in the intelligentsia is off-bounds, no motive, no premise, no absurdity. Do you know what I mean?

Today I wandered over to Yahoo Finance to check on the market and investments, wow I thought, stocks are showing a little resilience here, hmm…..scanning news, headlines, companies, I see a headline –

Budget Crisis “Embarrassing,” But Businesses Aren’t Fleeing California, Economist Says

Really. He really thinks this, this Mr Stephen Levy of the Center for the Continuing Study of the California Economy. I scan the website, finding ambiguous reports and studies, etc. I do find that some liberal groups have given financial support to the group CCSCE. Follow the money. Any and every massive fallacious absurdity and misconception has a long money trail associated.

Knowing the opposite to be true, that businesses and individuals are fleeing the once-Golden State, I pull up mountains of empirical data. I am not an egghead, I don’t have an axe to grind, a Public Policy propaganda arm to push. Exhibit a. -residents are leaving in droves here.

American Thinker here. Several states are pushing programs to entice CA emigrants. Colorado, Arizona, Nevada, Oregon and Utah. California or Bust, Californian and Busted. Pointy-headed useful-idiot egghead busted.

California state government largess creating a meltdown of unforeseen proportions. State issuing IOUs to workers, people on programs, contractors, state workers, folks doing business with the state, etc in lieu of cash here, here, here. Sounds great for business! Empirical data again, egghead busted again.

Hmm, it seems that some of the big banks are leery of accepting California IOU’s here. Common sense comes into play again, bankers have no faith in the state. Why then would businesses and individuals? I don’t need a pointy-headed academic to tell me otherwise. Common sense, living within one’s means, Main Street to State Street, cause and effect cannot be escaped. Egghead nay.

State serf-rulers, pols and media blame our woes on low taxes here. Yes, you read that right, low taxes. A simple defiance of reality even in our age of stupidity. They deserve this place. Read this here from a State Assemblywoman. She deserves this state. She deserves Cuba, Castro, Chavez, Venezuela.

california_iou_license_plate_lg

State coffers are still bleeding after rearranging the chairs on the decks of the Titanic here, tax revenue down some 40% from a year or so ago. A California Condor has been spotted, shrieking, it’s vulturous squawk heard miles away…..we need to cut waste, squawk! squawk!…..Too little, too late Governor California Condor. There is but a corpse of the state for you and Sacramento vultures to nibble on. Where does the state get revenue? Yet another egghead is heard saying ‘everything is just fine and dandy’! Where can I find this mystical, mythical business that we can squeeze tax dollars from?

…….*crickets chirping in abandoned warehouses*…….

Businesses, production and producers provide tax revenue. Yet they aren’t leaving the state? Eggheads pecking at the corpse of a once prosperous state.

 How does a state that is so desperately in the hole find new ways to raise taxes, find revenue as the pols say in Taxamento? We should tap into the bounty of nature, tax a certain oddly shaped, uniquely-smelling plant, (when smoked). Yes, the hair of the dog, ganja, pot, weed, dope. And what a case of dope indeed, pols, bureaucrats, media-types are calling for the legalization of marijuana in the state to cure our fiscal woes, here and here.

America I am your clarion call of emergency and warning. I am calling on the danger that you are amidst. I am pleading for you to listen. I am asking you to rise up against this Obamanation and the equivalents on all Federal levels.

They are pushing the disaster that is California, on you America, on the road to serfdom.

Serfdom

Left Coast Rebel (http://www.leftcoastrebel.com/2009/07/businesses-arent-fleeing-ca.html) saying what I have been ranting about for weeks now. California is headed down the path of no return and yet still people are saying everything is ok. Research what happened to California and you will see that is the exact path the United States as a whole is being pushed down by the obamanation in office.

UPDATE: Here is a great comment left on the orignial article on Left Coast Rebel…

Nick said…

The sad part about California, for me (as a current resident), is that I’m virtually certain that I will leave California in the next few years in search of a place less destructive to my way of life. By that, I mean a place which doesn’t actively discourage business and productions, doesn’t tax its workers obscenely, and doesn’t have a budgetary disaster caused by ridiculous of-of-control spending and Obamanation-style liberal politics. The sad part is not that I’m leaving (statistically I will be replaced by 2+ other people, likely here illegally, so the state won’t miss me), but rather that I have no hope in affecting any change whatsoever in the state’s situation, and thus that has no consideration.

Surtax to Pay for Healthcare?

“Don’t think America is heading towards socialism? Then why do we tax our most succesful and productive citizens more then the socialists do?”

In their desperate bid to find half a trillion dollars or so to fund a health care expansion, Democrats have no shortage of bad ideas. Indeed, their new idea is even worse than last month’s dastardly plan to hike taxes on beer and wine.

The Democrat’s new idea is to slap a special “surtax” on high earners. A surtax is simply a flat additional charge based on adjusted gross income. The model for the new scheme seems to be a four percent surtax proposed by House tax writer Charlie Rangel in 2007.

Elsewhere I’ve explained why tax hikes on high earners is poor economic policy.  But politically, what’s striking is how far American economic policy is moving to the left of policies in other major nations.

The chart shows that the current top U.S. personal income tax rate (including the average state rate) is 42 percent, which is the same as the average in the 30 nations of the Organization for Economic Cooperation and Development (OECD).

President Obama already plans to increase the top federal rate from 35 percent to 40 percent at the end of 2010. That would push the combined federal-state rate to 47 percent, substantially above the average of other major industrial nations. Imposing a 4-percent surtax on top would push the top rate to 51 percent, which would be higher than many nations that were traditionally more socialist than America, including France (46%), Germany (48%), and Italy (45%).

Obama and the Democrats chafe at being labeled “socialists”, and it’s true that Republicans are just as socialist when it comes to spending policies. But tax rates higher than France? Tax rates over 50%? Come on Democrats, you’ve got to be kidding!

Chris Edwards- http://bit.ly/2thdw

56% Don’t Want To Pay More To Fight Global Warming

Fifty-six percent (56%) of Americans say they are not willing to pay more in taxes and utility costs to generate cleaner energy and fight global warming.

A new Rasmussen Reports national telephone survey, taken since the climate change bill was passed on Friday, finds that 21% of Americans are willing to pay $100 more per year for cleaner energy and to counter global warming. Only 14% are willing to pay more than that amount.

Fifty-two percent (52%) of all adults say it is more important to keep the cost of energy as low as possible than it is to develop clean, environmentally friendly sources of energy. But 41% disagree and say developing cleaner, greener energy sources is the priority.

Sixty-three percent (63%) rate creating jobs as more important than taking steps to stop global warming. For 22%, stopping global warming is more important.

Fifty-six percent (56%) of Democrats believe it is more important to develop clean, environmentally friendly sources of energy than to keep the cost of energy down. Sixty-seven percent (67%) of Republicans and 57% of unaffiliated adults disagree and put the emphasis on keeping the cost of energy down.

As is often the case, there’s a telling division between the views of populist or Mainstream America and the Political Class. Sixty-seven percent (67%) of Mainstream Americans say they are not willing to pay higher taxes and utility costs to generate cleaner energy and fight global warming, compared to only 17% of the Political Class.

For 57% of the Political Class taking steps to stop global warming is more important than job creation, while 71% of Mainstream America believe job creation is more important.

Forty percent (40%) of U.S. voters say global warming is a very serious problem, but voters are narrowly divided over whether it is caused by human activity or long-term planetary trends. In recent surveys, voters have been moving away from the idea that humans are to blame.

Americans have mixed feelings about the historic climate change bill that passed the House on Friday, but 42% say it will hurt the U.S. economy.

The bill is intended to reduce heat-trapping gases that some scientists say cause global warming. Even its supporters say the measure, which includes a so-called “cap and trade” plan,” will have a major impact on the economy.

President Obama is a champion of the bill and is prepared to sign it into law. But while the bill passed narrowly in the House, it faces tougher opposition in the Senate. The legislation has little GOP support because of questions about the science behind it and the potential cost.

Another major initiative promoted by the president also divides the general public. Fifty percent (50%) favor the president’s health reform plan while 45% are opposed.

In May, only 24% of voters could correctly identify the “cap-and-trade” plan as something that deals with environmental issues.

It is quite common to find Americans more favorable toward new government proposals until a price tag is attached. For example, Americans are evenly divided over the idea of making free health care available to every one in the country, but opposition grows dramatically when their own health insurance is involved.

Only 32% of Americans say are willing to pay higher taxes so that health insurance can be provided for all Americans.

– Rasmussen Reports (http://bit.ly/aZNBd)

I find it disturbing that only 24% of Americans  knew (in May) what the Cap n Trade bill was about. No wonder the Dems were able to just barely sneak the bill through the House. This line is also striking…

“Sixty-seven percent (67%) of Mainstream Americans say they are not willing to pay higher taxes and utility costs to generate cleaner energy and fight global warming, compared to only 17% of the Political Class.”

Normal Americans who work hard for a living are not willing to pay more taxes for political ideology. The political class is all too willing to tax and spend us in ever higher amounts to achieve their ideological goals. Out of touch with mainstream America.

Cap n Trade Bill – Section 304

I bet you thought that if you bought a house, you actually own it and can, with reasonable exceptions, do with it what you want. You probably think that if you want to live in a log cabin, with wood stoves that belch smoke into the air for heat, and an old washer and dryer that don’t have those little EnergyStar stickers on them you can because it’s your life and your property. You paid for it with money you earned with the sweat of your brow and what the heck is America anyhow if a body can’t live in the home they want furnished with the appliances they want?

Ah, silly you. You didn’t reckon on the Democratic Party’s desire to control every miniscule aspect of your life.

Let me introduce you to a little section of the Waxman-Markey cap-and-trade bill called the “Building Energy Performance Labeling Program”. It’s section 304 of the bill and it says, basically, that your house belongs to the state. See, the Federal Government really wants a country full of energy-efficient homes, so much so that the bill mandates that new homes be 30 percent more energy efficient than the current building code on the very day the law is signed. That efficiency goes up to 50 percent by 2014 and only goes higher from there, all the way to 2030. That, by the way, is not merely a target but a requirement of the law. New homes must reach those efficiency targets no matter what.

But what does that have to do with current homeowners like you? Well, I’m glad you asked. You’re certainly not off the hook, no way, no how. Here’s what the Democrats have planned for you. The program requires that states label their buildings so that we can all know how efficient every building (that includes residential and non-residential buildings) is and it requires that the information be made public. To that end, the bill suggests a number of circumstances under which the states could inspect a building, including:

(A) preparation, and public disclosure of the label through filing with tax and title records at the time of–

(i) a building audit conducted with support from Federal or State funds;

(ii) a building energy-efficiency retrofit conducted in response to such an audit;

(iii) a final inspection of major renovations or additions made to a building in accordance with a building permit issued by a local government entity;

(iv) a sale that is recorded for title and tax purposes consistent with paragraph (8);

(v) a new lien recorded on the property for more than a set percentage of the assessed value of the property, if that lien reflects public financial assistance for energy-related improvements to that building; or

(vi) a change in ownership or operation of the building for purposes of utility billing; or

(B) other appropriate means.

Pay close attention to (iii), (iv), and (vi) because those hit you right where you live. What that’s saying is the state will be empowered to inspect your home if you want to 1) renovate your house in any way that requires a building permit, 2) sell your house, or 3) change the name of the person responsible for any utility bill.

By now, if you haven’t swallowed your tongue and are in need of medical attention, you’re probably wondering if there’s a penalty for not being in compliance with the new efficiency ratings. The answer is no, and yes. Here’s where the bill gets really sneaky. So far as I can tell, there is no direct penalty if your house does not meet the bill’s target. However, it does require that the number of buildings inspected by the state meet certain percentage targets and if they do not, the state loses out on a significant portion of the money it could get from Washington. In other words, the bill demands certain things from the states, but ties funding for those demands to compliance with the demands.

Did I say the bill gets sneaky? I was wrong. The bill strong-arms the states like a couple mob heavies leaning on a witness in a Rico trial. In turn, the states are going to put the screws to you, so it gets the billions of dollars Washington is dangling in front of them. So while the Federal government won’t directly punish you, it will provide the states with lots and lots of rectangular, green reasons to do so.

And it gets worse. The Federal government has graciously offered to help homeowners with the retrofits the states will force them to do through a program called the Retrofit for Energy and Environmental Purposes (REEP). REEP sets aside a pool of money in each state for property owners who have to turn their polar bear-killing buildings into lean, mean, green machines. But, and I’m sure you’ve guessed this already, there’s a catch. Before I get to that, here’s the magic formula (and don’t read ahead and spoil the surprise!):

(i) AWARDS- For residential buildings–

(I) support for a free or low-cost detailed building energy audit that prescribes, as part of a energy-reducing measures sufficient to achieve at least a 20 percent reduction in energy use, by providing an incentive equal to the documented cost of such audit, but not more than $200, in addition to any earned by achieving a 20 percent or greater efficiency improvement;

(II) a total of $1,000 for a combination of measures, prescribed in an audit conducted under subclause (I), designed to reduce energy consumption by more than 10 percent, and $2,000 for a combination of measures prescribed in such an audit, designed to reduce energy consumption by more than 20 percent;

(III) $3,000 for demonstrated savings of 20 percent, pursuant to a performance-based building retrofit program; and

(IV) $1,000 for each additional 5 percentage points of energy savings achieved beyond savings for which funding is provided under subclause (II) or (III).

If you want to hit that 50 percent savings mark that all new homes have to hit, then you can get as much as $12,200, including inspection, as you scoop all those awards. That’s a pretty good chunk of change that should cover most, if not all of the costs of a retrofit on any moderately-sized older house, right? Easy, peasy, lemon squeezy.

Except for that catch and boy is it a doozy.

(ii) MAXIMUM PERCENTAGE- Awards under clause (i) shall not exceed 50 percent of retrofit costs for each building. For buildings with multiple residential units, awards under clause (i) shall not be greater than 50 percent of the total cost of retrofitting the building, prorated among individual residential units on the basis of relative costs of the retrofit.

Did you get that? You’ll be on the hook for half of the cost of the retrofit, no matter what. To get the full effect of that part of the bill, I suggest you visit this web page and click the big yellow button right after you finish reading it.

I think Mark Steyn sums it up rather nicely:

I confess I’m finding it harder and harder to see why you fellows bothered holding a revolution. Under this bill, it will be illegal for me to sell my property to a willing buyer without first bringing it into line with some twerp bureaucrat’s arbitrary and ever shifting “environmental” regulations originally designed for California, and which have helped turn the Golden State into the foldin’ state, but which are nevertheless now to be applied from Maine to Alaska. And no matter what you spend a couple of years down the road the standards will be “revised” and you’ll be out of compliance all over again.

Jimmy Bise (AIP)- http://bit.ly/JGWFI

Obama on Cap n Trade

HOLY SHIT – He says it at the :36-41 second mark.

“”Barack Obama: “Under my plan of a cap and trade system, electricity rates would necessarily skyrocket. It will cost money and they (energy companies) will pass that cost on to consumers.”

Barak Obama …..change you can believe in.