The president wants $8/gallon gas and skyrocketing electricity prices, because he cares about the poor.
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After the American people pay for their health insurance, I’m sure they all will welcome $8.00/gallon gas and be more than delighted to pay for skyrocketed electricity prices. Probably have enough left over to pack the kids in the station wagon and go to the movies, too!
What this president does not understand are the unintended negative consequences of his actions. He is a moron. He needs to take some classes on economics.
When you tax companies, that tax is not paid by that company. It is passed on to the consumer. So when president Obama (or any Democrat) says he wants to raise taxes on businesses, he is really saying that he is going to punish the middle and lower economic classes. These are the groups with the smallest discretionary income. The impact on these groups, as taxes are raised on businesses, is magnified. Taxes are also inflationary in nature. i.e. If you tax an athlete at 90% instead of 30%, he’s going to ask for more money to offset the income he loses due to taxes. That means ticket prices and concessions are going to go up to offset the higher pay needed to satisfy the athlete/ movie star/ rocker/ etc.
Another example of where the president misses the boat is minimum wage. Minimum wage is extremely inflationary. It creates a wave in the entire population of wage earners as they demand income balance. So if the guy at McDonalds is getting $15/ hr, the guy at Walmart, who knows he is worth more, asks for $30/hr and then the plumber asks for $200/hr and so forth until the wages are in balance with skill and demand. So when a minimum wage is set, the poorest lose the most as they are less capable of dealing with inflation. There should be no minimum wage. Everyone would be better off.
The president has advisors who know this; what they are doing is playing politics with ultimate harm being inflicted on the lower and middle classes. The president is an idiot and only looking out for himself. His advisors know that the electorate will be beholden to him for his moves to tax business and increase the minimum wage. (It’s the story Progressives like to tell) The lower and middle classes should know better but, unfortunately, most are not that well educated and incapable of seeing the harm being inflicted to their pocket books.
The president could easily get to $8/gal tomorrow. Just tax oil producers at $6/gal. Poof, he gets what he wants and the lower and middle class get a good lesson in economics.
You have most of it except that you forget that the corporations are in bed with the government. Here is the real story on corporate taxes:
http://www.taxpolicycenter.org/taxfacts/Content/GIF/type_share_historical.gif
http://brucekrasting.com/wp-content/uploads/2012/11/corporate-taxes-1024×654.png
And this one is really interesting…
http://brucekrasting.com/wp-content/uploads/2012/11/individualincome-taxesby-prez_edited-1-1024×703.png
Gail, the US has the highest corporate tax rate in the world. I would suggest that the decrease in revenues is partially due to business going overseas because the tax rates and regulations the US are so bad. We don’t manufacture in the US anymore. We don’t do much of anything anymore.
You are correct. the tax rate is 40% however that doesn’t seem like much when you look at personal tax.
http://www.kpmg.com/global/en/services/tax/tax-tools-and-resources/pages/corporate-tax-rates-table.aspx
When I first started a small business in 1985 I kept track of all the various overt taxes we paid. It was 64.5% of our gross and we were not incorporated.
This country is really really F…K-UP!
On a flight to Baltimore a few years ago, I was seated in front of two Americans who were wooing a Chinese manufacturer, trying to get the contract to supply plastic bottles for a Chinese product. As the conversation wound down, the Chinese rep was explaining her company is doing business with virtually every country on Earth. Then one of the Americans asked the Chinese woman in what country is it most difficult for them to do business, and without hesitation she replied, “America”.
Please define social insurance tax, and who pays it. Is Obamacare a part of this? Is this FCA and medical?
Oh Obama is not a moron, and he certainly understands Economics.
If he wasn’t smart or if Obama didn’t understand economics then he would not be advocating policies on the Federal level that are actively destroying the middle class while he’s standing on working class necks to keep them from surfacing from the depths of poverty.
“Fundamentally transforming America” is Obama’s words not mine and his intent is to transform America by creating universal poverty, not universal prosperity.
The other point people miss is that we have exchanged import duties for personal income tax.
Falling Tariff Rates
Why are Tariffs Falling?
* Progress made by WTO in organising tariff reductions.
* Greater acceptance of benefits from free trade.
* Increased globalisation has diminished strength of protectionist sentiments.
* Consequences of Falling Tariff Rates on Global Supply Chains
As well as lower prices and increased consumer welfare, falling tariff rates have played a role in hastening the process of globalisation. Increasingly, goods are no longer produced in one country, but we are seeing the emergence of global supply chains, with imported raw materials and parts to assemble finished goods.
Between 1980 and 2006, there was a 400% increase in the value of US manufacturer’s total input costs, imported from abroad….
Graph showing falling import tariff rates in the US.
http://www.economicshelp.org/wp-content/uploads/blog-uploads/2013/02/Screen-Shot-2013-02-11-at-07.35.53-500×327.png
Figure 17.11. U.S. Tariff Rates, 1820–2005
http://www.web-books.com/eLibrary/Books/B0/B63/MAIN/images/fwk-rittenberg-fig17_009.jpg
Yes and this free trade annihilated our industrial base, wrecked farms far and wide and destroyed my ability to make a profit from raising sheep.
What is the direct consequence of very low tariff/import duties on goods?
#1. It is advantageous for companies to manufacture goods in countries with low taxes, low wages and very little regulation or pollution standards.
#2. US workers are now in direct competition with low wage labor overseas that is now coupled with a low cost of regulatory compliance.
As of 1 May 2013, the highest monthly minimum wage in China wass 1,600 yuan ($265.64 US Dollar). The lowest minimum wage was .1,010 yuan ( $165.62US Dollar ). US minimum wage is ~$1250/month @ $7.25/hr. That is what American workers are competing against.
http://www.clb.org.hk/en/content/wages-china
And if that isn’t enough…
The National Association of Manufacturers say Federal Regulations Cost U.S. Economy More Than $2 Trillion Annually
Obummer and the DemiRats want to RAISE the minimum wage? Give me a break! All that does is bankrupt what small manufacturers we still have left and drive even more business overseas
From the 1970’s the USA has gone from 24% of the labor force in manufacturing — actually producing wealth to 9%. In the mean time those government dependent have grown to ~56%.***
Can anyone else see something wrong with this picture?
>>>>>>>>>>>>>>>
***
2,721,000 = federal government (2006 census)
5,128,000 = state government (2006 census)
14,199,000 = local government (2006 census)
————–
22,048,000 = total employees of US governments (2006 census)
3,215,100 are teachers (2006 Census)
42,870,000 — Age 65 and older receiving ONLY Social Security (2014 from US gov)
108,592,000..— “means-tested” government benefit recipient in addition to SS (2011)
306,804,000 people in the United States in 2011
Roughly 176,725,100 People are directly paid by the US government or receive direct benefits. That gives us 57.6% of the population who directly receive money or benefits from the government.
(I used 2006 census figures because the new census does not have the same breakdown categories.)
My farm area in NY used to be very vibrant and lots of sheep, goats, horses, cattle, etc.
Now, it is a ghost town. Virtually NO ONE has sheep. I used to belong to a sheep cooperative and we had big festivals. All dead in less than a decade.
My sheep that were exotic breeds went for $250 a head and after a flood of EU and Aussie sheep, the price fell to $50 a head which was uneconomical. So everyone sold what stock was left and now…no more sheep anywhere.
This really messed up my finances and farm. Was a total disaster for me. We have so many abandoned farms now. It is like a empty place…where once sheep baaaaed and cows mooed there is the cry of the hawk and the hoot of the owl. 🙁
Unfortunately it is only going to get worse when the Food Safety Modernization Act regulations kick in.
Once all the small farmers are driven off the land and the millionaires snap up all the cheap farmland and consolidate it into giant corporations the food prices will go through the roof.
They did the same in the EU a decade or so ago and wiped out all the small farmers.
http://www.i-sis.org.uk/savePolishCountryside.php
Before we started giving away our manufacturing we were the largest creditor in the world. We are now the largest debtor.
But as he leaves his job as CEO of the Mouse House on Oct. 1, ending a 21-year tenure — sometimes successful, often stormy — as Hollywood’s most recognized mogul, it’s hard to remember him as the self-deprecating dad he was back then. Instead, there’s the embattled CEO who infuriated shareholders some 18 months ago in Philadelphia, when 45 percent of them voted against him remaining chairman of the company he had headed since 1984. Lost on the protesters who rallied with dissident former board member Roy Disney on that chilly March day was the memory of the Michael Eisner who had saved an American institution.
Dream team
In 1984, Eisner, who had been unceremoniously dumped as president of Paramount Pictures, was asked to revive a company that was a shadow of the one Walt built on princesses and parks. Disney wasn’t making movies worth watching, and while its theme parks still glistened, earnings had fallen to $94 million a year, from $135 million four years earlier. Raiders were descending on the Magic Kingdom, eager to sell off Disneyland and fill Orlando with condos.
Today, Disney is a giant, and last year it earned $2.3 billion, on revenues of $30.7 billion. On Eisner’s watch, the outfit opened theme parks in Paris and Hong Kong, expanded its parks in Orlando and Anaheim, and once again made movies that folks wanted to see. Disney revived its near-moribund animation studio, bought a TV network, and became the most powerful company in sports programming, thanks to ESPN.
http://www.nbcnews.com/id/9543610/ns/business-us_business/t/how-eisner-saved-magic-kingdom/#.VNSHa-k5Bdg
When I was getting my Bachelors of Science in Business Management the last of this drama had played out. President Obama doesn’t need no stinkin’ economics courses! The President is practicing Enron-style economics: what’s good for the secret off-shore bank accounts of the Board of Directors is good for the corporation–and the nation. Create an economic bubble (such as the Credit Bubble that collapsed in 2007) and then shed all assets at a “loss:” fire your work force, your sales force, your management team–alienate and lose every customer and client–sell off or give away all your capital assets–do something with those piles of money before someone else seizes them–and then deploy your golden parachute for a fresh, new ripe company to pillage, plunder, loot and burn. I thought I was going to flunk my Economic course when I outlined this “road to riches and fame” from my textbook–but it was what the textbook said. Run the company into the ground and get hired at better salary (and especially at better perks in your compensation package) to move to a new company and do it all over again.
No wonder corporate tax revenues are down. Think about it–can’t tax negative net income. When all the money has been drained away and there are no more assets, tangible or intangible, what’s left for the tax people to seize?
I think I got a B+ in the course.
Michael Eisner is the man who dissolved the Disney Animation studios. Now Disney Animation is basically Pixar Animation. The reason that the old animation studios were closed was that the new generation of Disney Animation didn’t live up to the hype–so Eisner began clipping.
Disney has been steadily shrinking its animation department, from a peak of 2,200 employees in 1999 to 600 today. The company has also been cutting back on hand-animated films, which are more labor-intensive and cost far more than movies animated by computer. The Orlando studio, opened in 1989, animated movies like ”Lilo & Stitch,” ”Mulan” and this year’s ”Brother Bear.”
http://www.nytimes.com/2004/01/13/business/company-news-disney-to-close-animation-studio-in-orlando.html
Nearly two years in the making, DREAM ON SILLY DREAMER marks the sad, final chapter of the now extinct hand-drawn art form that was the cornerstone of Walt Disney Feature Animation. Building on the rich seventy seven year history of an American icon and paying homage to the Disney classics, Dan Lund and Tony West tell the revealing tale of how that storied icon came to a crashing, albeit untimely, end.
“Documenting myself and my friends losing our jobs, while it was happening, proved to be the most difficult exercise in film making I have ever experienced,” said Lund, the film’s director. DREAMER represents Lund’s fourth directorial effort and is by far his most personal work to date.
First time producer, Tony West says, “Producing DREAMER has been a dream come true but also came with great professional sacrifice.” West faced “one of the most difficult choices of my life,” shortly after he was laid off by Walt Disney Feature Animation. “I had a very lucrative job offer from a major animation studio in Canada,” West remembers.
“But after nearly fifteen years of animating for Disney, if they didn’t want me, I was ready to try something new. I’ve always wondered exactly what a producer does, now I know. And I love it!” West chose the path of most resistance, turned down guaranteed employment and jumped headlong into the producer’s responsibilities on DREAMER. He has never looked back.
Using guerilla-style film making techniques to their finest, Lund began interviewing coworkers and colleagues the day after they were told they were to be fired. Charged with energy and raw emotion, audiences will listen in utter disbelief to the finest artists and animators in the business, as they desperately try to make sense of their unbelievable situation and their inevitable fate.
http://www.dreamonsillydreamer.com/
Makes me wonder what President Obama will clip because of poor performance while under his leadership…
I am sure Obama and the Democrats have a plan for helping the poor with high energy prices. It’s called the taxing the rich(and middle class) more to subsidize the poor energy needs. The poor will be taken care of, it will be the middle class that suffers the most.
That’s why he wants so many of them.
UN Climate Chief: We Are Remaking The World Economy
“The United Nation’s climate chief says that reordering the global economy to fight climate change is the “most difficult” task the international body has ever undertaken.
“This is probably the most difficult task we have ever given ourselves, which is to intentionally transform the economic development model, for the first time in human history,” Christiana Figueres, who heads up the U.N.’s Framework Convention on Climate Change, told reporters.
“This is the first time in the history of mankind that we are setting ourselves the task of intentionally, within a defined period of time, to change the economic development model that has been reigning for the, at least, 150 years, since the industrial revolution,” Figueres said….The climate chief even held up President Obama as a shining example of steps countries can take to tackle global warming.”
http://thelibertarianrepublic.com/un-climate-chief-remaking-world-economy/
I wonder what kind of world economy they have in mind? Anyone see the similarity to the mystery Babylon and ‘mark of the Beast’? Sort of not kidding!
Actually I see the return to the feudal ages and slavery/serfdom.
The idiot progressives think they are going to be the ones who are the top dogs. But then again they have not paid any attention to history.
After learning about the nice folks behind the 4th World Wilderness Conference and reading some of their quotes, such as Maurice Strong’s, it appears the most powerful bankers are behind this. Strong is known in Colorado as the one who tried to suck water from the San Luis Valley and sell it to the Front Range, but local residents caught on. His wife started several spiritual centers down there. He is a resources billionaire from Canada but promotes the end of modern civilization. Why?
Progressives it seems to me have fallen for their language because they know how to frame the idea to get people to support the cause. They get naive environmentally conscious people to believe it’s the right thing to do. It’s Goebbels tactic of decrying those as “unpatriotic” or “deniers” who don’t swallow the koolaid. Works in cults. The people are just blind followers. Add a sprinkle of religious ideology and get the world’s religions on board, as now the Pope, and other “enlightened” people, those that especially are literally Earth-worshipers and neo-pagans.
You might want to read my SWAG on what has been going on HERE
I think the socialists/communists/progressives have really really been led down the garden path.