Posted on 02/05/2009 6:53:00 AM PST by Michael Eden
IrishMike,
I’d heard something like that, but not as good.
I saved that ice cream story to a word file for future use. Thank you for sharing it.
And God bless Ireland, which has a low tax economy that is bringing in businesses and jobs.
Reagan sure proved how stupid liberal economists were. They said his conservative ideas would lead to disaster. What they led to was the 2nd greatest economy in American history - even starting as it did from the scum of the Carter years.
I actually recognized AFTER my initial response that you may have been addressing Obama, and not me. And offered an apology in advance.
I’ll repeat it now. Sorry for my own misunderstanding.
I DO tend to have a pretty quick trigger finger, because I’ve grown accustomed to liberals posting nonsense!
Ireland is pretty much a basket case right now.
Prosperous times brought big government revenue,
and bigger government spending.
Liberals here, there and every where else
...... they’re all the same.
Because he’s such an expert on using computers and the Internet, we can say he’s an eCommunist.
That’s a shame. Hadn’t heard that.
And I imagine that the liberals will insist on economic and trade practices that will slowly (or even quickly) poison the goose that lays the golden eggs.
Every paradise has its serpents. Liberals are the snakes of good economies.
Ireland:
Jobless rate could hit 400,000
Wednesday, 4 February 2009 22:56
The Taoiseach has said that unemployment could reach 400,000 by the end of the year.
Brian Cowen was speaking after revealing the highest monthly increase in unemployment in more than 40 years.
Mr Cowen told Fine Gael leader Enda Kenny that an extra 36,500 people joined the dole queues in January, bringing the unadjusted jobless total to 327,900.
AdvertisementDeputy Kenny said the figures were horrendous, the worst in the history of the State, and that the Government’s proposals yesterday did nothing to offer hope or confidence to those who had lost their jobs.
Mr Kenny said it amounted to 1,500 people being laid off every working day.
Labour leader Eamon Gilmore said each lost job cost the State €20,000 per year in social welfare payments and lost tax - the jobs lost in January alone would cost an extra €730m.
He said the Government was focusing on the wrong problem - cutting public spending - rather than on maintaining and replacing jobs.
Live Register up 80% in 12 months: CSO
The Taoiseach said the lessons of the past showed that jobs cannot be saved unless the public finances are stabilised first.
He said politicians had to be honest with the people, and tell them that more jobs would be lost during the year.
Official figures have confirmed that the number of people on the Live Register hit a record high of 327,900 in January.
The Central Statistics Office said the numbers signing on rose by almost 36,500 from December.
The Live Register figure has now surged by more than 80% over the past 12 months.
The seasonally adjusted figure rose by 33,000 to 326,100, while the unemployment rate jumped to 9.2% up from 8.3% in December.
Not a problem.
“Right now I’m learning an awful lot about the economy. I’m not a trained economist, but I’m spending a lot of time thinking about that so that I can make the very best decisions possible for the American people.” ~ B. Hussein Obama
No kidding, B.O.? You were much more confident of your understanding of economics back in the days when you were denouncing tax cuts claiming they would drive Illinois’ economy straight into the dumster.
Reality was just the opposite.
And based on what he wants to do right now, B.O. still hasn’t learned anything:
Politically Drunk on Power
Monday, October 13, 2008
Obama’s 300 Tax Increases In Illinois & The State That Lags Economically!
Senator Obama knows how to talk the talk, but does he walk the walk?
Obama claims to be able to restore fiscal responsibility to our government; yet, his nearly $1 trillion in new proposed spending tells a different story. He claims that increases in taxes on Businesses and wealthy Americans will bring fiscal health back to our government; yet he cannot explain how government revenues have actually grown by 20% over the past 7 years despite what he refers to as “irresponsible tax cuts”. The problem with Senator Obama is simple, he has a limited record to work off of and no one in the MSM is willing to question that limited record.
As a resident of Illinois, I have seen first hand what the effects of Obama’s “change” have been. In 2002, following the term of a corrupt “Republican Governor” who abandoned his own parties fiscal principles by raising taxes and overspending, Democrats gained full control of Illinois government. Running on a platform of ‘change’ nearly identical to that of Obama, these Chicago politicians promised massive social spending and programming, along with the ability to balance a budget plagued by deficits caused by the 01’-02’recession. Since a majority of Senator Obama’s experience comes a state legislator, perhaps its time to look at his record.
Prior to 1999, Republicans controlled both the Illinois Senate and Executive Branch. Under the control of a popular governor, Illinois enjoyed a budgetary surplus that had led to the creation of a ‘rainy day fund’. After Governor Edgar retired in 1998, George Ryan came to power running on a platform that promised the same fiscal constraint practiced by Edgar. However, just two years after taking office, Ryan embarked on an orgy of Pork-Barrel spending and massive spending programs leading to split between Illinois Republicans and his administration. Ryan, with the help of Illinois Democrats increased taxes and licensing fees on Illinois business. When recession hit following 9/11, State revenues collapsed, followed by multiple allegations of corruption by the governor. As a result, Chicago’s political machine, ran by Rod Blagojevich and Obama’s mentor, Emil Jones, took power.
During his career in the Illinois Senate, Barack Obama never saw a tax increase that he didn’t like. CBS News Jan 17, 2007 - ‘Obama occasionally supported higher taxes, joining other Democrats in pushing to raise more than 300 taxes and fees on businesses in 2004 to help solve a budget deficit. The increases passed the Senate 30-28.’ Fox News Feb. 27, 2008 - ‘A new report says he supported more than 300 tax hikes during his eight years in the Illinois State Senate’.
Yet, these reports do not even begin to demonstrate the fiscal irresponsibility practiced by Obama. Facing a budget deficit in 2003, the newly anointed Illinois Governor, with the full support of Senator Obama who voted for his budget, increased the annual budget by more than $2 billion, as opposed to seeking spending limits or cuts. On April 9th, 2003, Blagojevich introduced his budget by stating, “WE WILL NOT BALANCE THE BUDGET BY SACRIFICING OUR VALUES. INSTEAD, WE WILL BALANCE THE BUDGET BY ENDING BUSINESS AS USUAL.” Sound Familiar?
Over the course of the next two years Senator Obama would vote after tax increase after tax increase.
Obama voted for an income-tax hike on natural gas. SB1733 was a $42 million income-tax hike on Illinois businesses that choose to purchase cheaper out-of-state natural gas. (2003)[I’m sure that those businesses never even thought about passing on the increased costs to the consumer.]
In 2003, Obama voted to raise the state corporate income tax by $59 million for industries that use heavy machinery. The tax hit consumers of oil, coal, other natural resources in addition to businesses from contractors to graphic arts companies.
Voted for a property tax hike to increase patronage employees’ pay. The bill, costing taxpayers $31 million per year, was vetoed only to be overridden by the senate and house.
In 2004, Obama voted for yet another state income-tax increase that hit Illinois businesses for an additional $29 million per year. In addition, Obama also voted for increased real estate sales taxes and a computer software sales tax hike that cost Illinois consumers and home buyers a combined $95 Million. Obama also supported a 33% increase in licensing fees on Illinois Residents.
In a single massive bill in 2004, Obama voted to increase over 300 TAXES AND FEES Assessed on professionals and businesses operating under state licenses. The bill increased fees on every profession regulated under the state, from hair dressers to insurance agents, contractors to doctors. Fee increases were phenomenal in many cases as insurance agents and investment brokers for instance saw their licensing fees increase by as much as 400%.
But professional fees were minute compared to the massive fees imposed on business licensed entities. Automobile Dealers saw their licensing fees increase by a whopping 2,000% (not a typo). A Massive 36% Increase in Interstate Trucking Licensing fees caused a massive decline in interstate trucking as companies moved out of state and avoided interstate transportation through Illinois like the plague. Nearly every business, both small and large were affected by a massive increase in Worker’s compensation fees paid by Illinois Businesses. In November 2004, An Illinois Circuit Judge ruled the Worker’s Comp fees unconstitutional as the funds were being re-diverted to the general fund.
Obama voted to increase Regulatory Securities Fees On Banks & Investment Companies (ironically the state actually decreased regulatory staffing and employment)While raising regulatory fees, the state cut the Banking Office & Financial Institutions Budget by over 1.1 Million in first year.
But tax and fee increases were only the beginning for Obama and his Chicago cronies. Obama, in an attempt to increase government revenues to pay for billions in new spending, began robbing Peter to pay Paul. Obama supported a plan by Governor Blagojevich to mortgage the Thomspson Center in Chicago to raise $200 Million. The plan was quashed by the Democratic Attorney General, Lisa Madigan, who challenged the mortgage as procedurally unconstitutional.
Obama supported and voted for a plan that would generate revenue for the State by issuing $10 Billion in bonds tied to the State’s Teachers Retirement System. The plan, which would put the state on the hook for the annual interest and a repayment of the $10 billion debt, would put at risk the long term viability of the Teachers Retirement System. Five years later no plan has been proposed to offer insight as to how to repay the long-term debt. In 2004, Obama would add insult to injury as he voted for a bill to short the State’s contribution to the State Employees Retirement System and Re-vamp the Teachers Retirement System. The bill would actually limit pay raises made available to teachers in the years prior to their retirement.
Obama also failed miserably to support any spending cuts proposed by the few remaining fiscal conservatives left in Illinois. In 2003, Obama voted for SB1239 that included $750 Million in pork spending. The Governor would actually veto more than $556 Million from the bill only to his veto overturned by Obama and the rest of the heavily Democratic Illinois Legislature.
In 2007, suffering yet another year of Budget deficits, Illinois’ Governor would propose a Gross Receipts Tax that would impose a tax on Gross Revenue of business and services rather than Gross Income. The bill was opposed by nearly every business group, consumer group and legislature in Illinois. The tax would have been the largest tax increase put forth by any state in history and many experts testified that the tax would have destroyed Illinois’ economy. To give you an idea of how the tax would have worked, take for instance an individual real estate agent. If this agent had sold $1 million in real estate during the year, they would have expected pre-tax commissions of $35,000 - $70,000. The GRT would have imposed a 1% tax on the gross sales, or around $10,000. Although the tax was 1% of Gross Receipts, the tax to the agent would have been as high as 30%. For business dealing with high volume, low profit margin items such as real estate, automobiles or furniture, the tax would have destroyed their profits and operating incomes. When it became apparent the bill would fail, the Governor advised his supporters to vote against the bill to save their re-election bids. Senator Obama, although questioned repeatedly, refused to acknowledge whether or not he supported the GRT.
Dan Cronin - Illinois State Senator - “I think you just have to kind of look and take a step back and see what is happening here in Illinois. Look at the business climate. Look at the fiscal climate. This is not a place that is very friendly to business. It’s a high-tax, high-regulatory state. We lag in the nation. “
How have these tax increases helped one of the nations largest states?
According to the 2008 Economic Scorecard by The U.S. Chamber, Illinois ranks...
Business Costs: (C-) 39th
Economic Growth: (D+) 36th
Economic Prosperity: (C+) 16th
Education: (B) 16th
Regulatory Environment: (D-) 49th
Workforce Preparedness: (B-) 16th
Since 2002, Illinois has consistently lagged in job growth and has seen a drastic reduction in the number of of health care workers employed within the state. Since 2002, Illinois has raised more taxes and fees than any other state in the nation, while failing to balance their budget even once. Since 2002, Illinois has expanded social services, such as children’s health insurance, without taking a single step to protect services already in existence. As of October of 2008, the state is over 18 months behind in Medicaid payments to health care providers.
Illinois is a picture of Obama’s economic philosophy and what this nation has to look forward too, it is a picture of corruption, out-of-control spending and a government that will tax small and large businesses into non-existence.
J Brown
October 13th, 2008
http://politicallydrunk.blogspot.com/2008/10/obamas-300-tax-increases-in-illinois.html
That is an excellent article. I’ll do my little part to spread that wealth around.
Thanks for posting it!!!
We are so doomed.
Fight the Power,
I came across a powerful prediction of our impending collapse from a Bible scholar named Grant Jeffrey and transcribed a passage. The article also has a prediction of impending financial disaster by Gerald Celente.
http://startthinkingright.wordpress.com/2008/11/24/renowned-economic-forecaster-says-us-headed-for-total-collapse/
Grant R. Jeffrey wrote a book entitled Final Warning: Economic Collapse and the Coming World Government which came out in 1995. He concluded his chapter 14, ”The Coming Economic Collapse,” by stating:
“However, in the last few years the size and complexity of the financial derivatives market has exploded until today over $21 trillion is at risk in America and and astonishing $42 trillion is at risk worldwide. To place these figures in perspective, the total value of all stocks traded on the New York Stock Exchange amounts to only $6 trillion. We should remember that the stock market crash of 1987 that resulted in the loss of $1 trillion of investors’ funds was precipitated by a massive drop in the financial derivatives market. During the last year the largest Japanese steel company in Germany lost $1.4 billion. Then, Orange County, CA, lost $2 billion while the 270-year-old Barings Bank of England was forced into bankruptcy when they lost $1.3 billion in one week on a derivatives trade by one 28-year-old employee. This incredibly dangerous derivatives market could very well be the trigger for the coming financial collapse that the Bible indicates will occur in the last days leading to the rise of Antichrist and the revived Roman Empire” (p. 247).
Note the title. One of the chapters just deals with derivatives. And this was written in 1995!!!
Grant’s insightful and clearly prophetic analysis both reveals the means of our economic destruction while simultaneously pointedly revealing that the cancerous roots of the financial implosion occurred during the Clinton era, and NOT as a result of Republican or Bush policies.
Ok, that article just blew my mind. It also ruined what was left of my night. LOL I guess, better start preparing NOW.
Thanks for posting it. Scary stuff.
Dude, I am so with you I could BE you!
I am so furious we voted for this clown it is absolutely unreal.
This country is going to suffer horribly for voting for this stupid clown. And 52% of them are going to deserve it.
Here’s another scary factoid:
Right now there are $700 TRILLION in derivatives floating around in the global economy like giant icebergs. And we’re the Titanic. And we’ve already been ripped open by some of these derivative icebergs. And we’re speeding toward a bunch more of them.
And we’re the Titanic. And we’ve already been ripped open by some of these derivative icebergs. And we’re speeding toward a bunch more of them.
-
I read a blub by some economist named Celente who said that the days of American prosperity have passed. It’s pretty sobering. You may have seen this already. If not, I can send to you...
Here is one article from Gerald Celente of Trends Research Institute - who predicted the 1987 market crash and the collapse of the USSR - and who CNN, the Economist, USA Today, the Wall Street Journal, NY Times, LA Times, etc. etc. have all relied upon and praised for his ability to forecast trends.
http://nationalexpositor.com/News/1494.html
Don’t read it before bedtime unless food riots and tax rebellions by 2012 don’t frighten you.
Even the blase Congressional Budget Office is claiming that this massive government spending is going to reduce GDP and create inflation.
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