Category Archives: Obama taxes

Chief Justice Roberts decision that of Washington Insider, John Roberts in DC too long, John Hammer Rhino Times, Greensboro Obamacare truth in print

Chief Justice Roberts decision that of Washington Insider, John Roberts in DC too long, John Hammer Rhino Times, Greensboro Obamacare truth in print

“Nobody who makes under $200,000 a year will see their taxes go up as long as I’m president.”…Barack Obama

“I absolutely reject that notion [mandate is a tax].”…Barack Obama

“It is emphatically the province and duty of the judicial department to say what the law is. Those who apply the rule to particular cases, must of necessity
expound and interpret that rule. If two laws conflict with each other, the courts must decide on the operation of each.”…Marbury vs Madison

From John Hammer of the Rhino Times, in print in Greensboro, NC, July 5, 2012.

“Chief Justice of the United States Supreme Court John Roberts threw everybody for a loop last week.

Both Fox and CNN reported on the Supreme Court ruling on Obamacare wrong the first time around. Which is understandable because days later pundits are still trying to make sense of what happened.

One of my favorite pieces so far is by Thomas Friedman of The New York Times, who, of course, praises Roberts for putting his country above partisan politics by using creativity and “finding a way to greenlight Obama’s Affordable Care Act.”

Friedman credits Roberts with putting partisan politics aside and doing what was best for the country. It is such an arrogant, closed-minded liberal world view it would be funny if it weren’t such a serious issue. Shoot, it is funny. According to Friedman the liberal view is what is best for the country. This is a fact. So Roberts is to be congratulated for putting his conservative ideals, which are by definition bad for the country, aside and figuring out a way to twist the law into a pretzel that says Obamacare is constitutional. To believe Friedman you have to accept his premise that what conservatives believe is not and cannot be good for the country, and when conservatives can put aside their own beliefs they can sometimes manage to work for the good of the country. You either have to laugh or cry. I choose laughing.

Here’s an explanation I haven’t read anywhere, but it seems possible. The problem is that Roberts has spent too much time in Washington. People talk about getting inside-the-Beltway syndrome, and maybe Roberts has been in Washington for so long he believes that the extreme left-wing views that dominate Washington are the norm for the nation. Or he doesn’t believe it, but like living in a town with a paper mill, after a while you think stench is normal. It’s tough for conservatives living in Washington because it doesn’t matter how big a majority the Republicans have in Congress, in Washington conservatives are a tiny minority of the population that usually dash to Capital Hill and then back to Reagan National Airport and somewhere more normal.

Maybe Roberts has been in Washington so long, he believes that the opinions you hear in restaurants, coffee shops and on the metro are the norm. Of course, it’s hard to imagine Roberts in a coffee shop or on the metro, but it could happen.

Look at President George Walker Bush. He was convinced that people wouldn’t be that upset about a tax increase. It’s hard for a president to get out and mingle, but he should have been told that the rest of the country didn’t like the idea of a tax increase from a president who had been in every corner of the country saying, “read my lips, no new taxes.” In Washington, it was considered par for the course. There are politicians everywhere in Washington and nobody except someone straight in from the countryside believes anything they say. The voters in Washington elected Marion Barry after he had been convicted of possession of cocaine. It’s a different world.

On the good side of the Roberts’ judicial reasoning is that it has now been established without a doubt that Obamacare is being paid for with a tax. It is also definitely a tax on the middle class, and President Barack Hussein Obama has promised over and over he would not raise taxes on the middle class. According to some estimates this represents by far the largest tax increase in history and will result in over $1 trillion in new taxes.

Imagine how much more power it gives to the federal government to take an additional $1 trillion out of the private economy and decide where and how it will be spent.

The other parts of the ruling really are good news. Finally there is some check on the federal government forcing the states to do whatever it wants by withholding funds. The federal government might have to use reason or compromise in the future. One state legislator has told me that North Carolina won’t be able to afford the new Medicaid provisions, and North Carolina is not alone.

One of the most interesting articles to come out of the Supreme Court decision is by Jan Crawford of CBS News, who evidently has great sources inside the Supreme Court. She reports that Justice Anthony Kennedy was relentless in his pursuit of Roberts, attempting to get Roberts back in the conservative fold.

Those on the outside had figured that Kennedy would be the conservative judge to vote with the liberals, but according to this report, which seems to be generally accepted as true, Kennedy was the one who wouldn’t accept the fact that Roberts had changed sides.

Here is another theory about Roberts. This was his one attempt at being a wild and crazy guy. Some men have a midlife crisis and go after younger women and some buy a red convertible. Perhaps some very conservative chief justices of the Supreme Court who, from reading their bios, never really did anything fun in their lives, decide to try something “Crazy, man, crazy” and vote with the liberals on a big case.

Human beings are very strange creatures and anything is possible.”

Read more:

http://greensboro.rhinotimes.com/Articles-Columns-c-2012-07-03-212390.112113-Under-the-Hammer.html

Obama jobs added and unemployment rate truth, Labor force participation plummeted, Skews unemployement rate, Historic drop in labor force, Orwellian spin continues

Obama jobs added and unemployment rate truth, Labor force participation plummeted, Skews unemployement rate, Historic drop in labor force, Orwellian spin continues

“The unemployment rate would be even higher than it is now had participation in the labor force not declined as much as it has over the past few years. The rate of participation in the labor force fell from 66 percent in 2007 to an average of 64 percent in the second half of 2011, an unusually large decline over so short a time. About a third of that decline reflects factors other than the downturn, such as the aging of the baby-boom generation.

But even with those factors removed, the estimated decline in that rate during the past four years is larger than has been typical of past downturns, even after accounting for the greater severity of this downturn. Had that portion of the decline in the labor force participation rate since 2007 that is attributable to neither the aging of the baby boomers nor the downturn in the business cycle (on the basis of the experience in previous downturns) not occurred, the unemployment rate in the fourth quarter of 2011 would have been about 1¼ percentage points higher than the actual rate of 8.7 percent.”…Congressional Budget Office

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984″

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

With my math and computer science background and awareness of Orwellian wordsmithing by the Obama camp, I couldn’t help but notice what is going on with jobs and unemployment reporting. Another huge clue has been the emphasis from the mainstream media, i.e., “The lady doth protest too much me thinkst.”

Obama continues to tout the jobs being created without ackowledging the jobs lost. However, the biggest bit of Orwellian spin is referencing a drop in the unemployment rate and ignoring a historic drop in the labor force participation rate.

From the Bureau of Labor Statistics May 4, 2012.

“Both the number of unemployed persons (12.5 million) and the unemployment
rate (8.1 percent) changed little in April.”
“The civilian labor force participation rate declined in April to 63.6 percent,
while the employment-population ratio, at 58.4 percent, changed little.”

http://www.bls.gov/news.release/empsit.nr0.htm

A labor force participation rate of 63.6 percent is significant.

Reported at Citizen Wells on April 26, 2012.

Labor force participation: The share of adults in the labor force — either looking or working — has dropped 3% — also highly unusual in a recovery. At 63.7%,
labor force participation is at a low not seen since the middle of the very deep 1981-82 recession, when fewer women were in the work force. A lower
participation rate makes the unemployment rate look better.

https://citizenwells.wordpress.com/2012/04/26/obama-and-democrats-created-high-unemployment-and-blame-bush-and-others-obama-inherited-2-years-of-a-democrat-controlled-congress-unemployemt-and-gas-prices-began-climb-in-jan-2007/

The labor force participation rate was 66 percent in 2007 when the Democrats took control of Congress.

From the Federal Reserve Bank of San Francisco November 2, 2007.

“the current consensus forecast among government agencies is that labor force participation will level off at around 66% and stay flat for the foreseeable future.”

http://www.frbsf.org/publications/economics/letter/2007/el2007-33.html

The labor force participation is 63.6 percent!

And jobs added, that is net jobs added.

Set your Orwell decoder ring to the proper settings.

From the Washington Post September 7, 2011.

http://www.washingtonpost.com/business/economy/jobs-lost-jobs-gained/2011/09/07/gIQA1ZlYAK_graphic.html

 

Unemployment May 4, 2012, Unemployment claims revised upward, 4 week moving average 383500, April private sector jobs plummeted, Real unemployment rate?

Unemployment May 4, 2012, Unemployment claims revised upward, 4 week moving average 383500, April private sector jobs plummeted, Real unemployment rate?

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

The stated unemployment rate is 8.1%.

What is the real unemployment rate?

Further analysis of this is forthcoming.

Here is what we know:

Unemployment claims get reported and then revised upward. The recent report was changed to 392,000 from the prior week’s reported 388,000.

The 4 week moving average has gone up the past several weeks. It is now 383,500.

Private sector employment increased by 119,000 jobs in April instead of the forecasted 170,000.

Many individuals, discouraged by the dismal jobs picture, have left the job market.

What ever the stated unemployment rate is, the real unemployment rate is significantly higher.

High school and college graduates, about to enter the full time job market, face dismal prospects. Though they have been counted by the Labor Department (I just verified this), they will still add millions to those seeking full time employment.

“Federal Reserve Chairman Ben Bernanke and his fellow policymakers at the central bank have expressed worry that the employment picture ahead is likely to be weak”…CNBC May 2, 2012.

Rush Limbaugh continues to state that the unemployment rate will be manipulated to benefit Obama. Anything over 8 % is considered lethal to his reelection.

Obama News April 30, 2012, Economics 101 companies do not pay taxes, Consumers pay in higher prices job cuts and reduced pay, US economy slowdown caused by Obama taxes and policies

Obama News April 30, 2012, Economics 101 companies do not pay taxes, Consumers pay in higher prices job cuts and reduced pay, US economy slowdown caused by Obama taxes and policies

“What do you think a stimulus is? It’s spending – that’s the whole point! Seriously.”…Barack Obama

“…and Socialist governments traditionally do make a financial mess. They [socialists] always run out of other people’s money. It’s quite a characteristic of them.”…Margaret Thatcher

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

Citizen Wells has been writing for some time about the impact of high gas prices and taxation on the economy. One of the most important ideas presented here is the fact that companies do not pay taxes, consumers do.

From Citizen Wells April 3, 2012.

“First, the corporate tax rate in the US is near or at the top in the world.

US oil companies pay enormous amounts of taxes. How does this compare to one of Obama’s pay to play buddies GE? Check this out for yourself.

Here is the really important point about raising taxes on oil companies and other companies.

Companies (corporations, LLC’s, partnerships, sole proprietors) do not pay taxes!

Consumers pay for the tax increases.

Taxes are part of the cost of doing business.

A tax increase to a company results in some combination of the following:

Product and service price increases.

Employee and hours cutbacks.

Reduced hiring.

Does any of this sound familiar?”

https://citizenwells.wordpress.com/2012/04/03/obama-lies-on-oil-companies-taxes-profits-and-impact-on-consumers-obama-energy-policy-based-on-chicago-pay-to-play-politics-truth-team-notification/

Here is another example.

From McClatchy News April 27, 2012.

“Weak growth of U.S. economy in first quarter renews fears of stalled recovery”

“The U.S. economy’s weaker-than-expected growth in the first three months of this year renewed concerns Friday that the nation’s fragile recovery might stall. ”
“The real disappointment in Friday’s report was a drop in business fixed investment of 2.1 percent and in spending on business structures of a whopping 12 percent. Spending on equipment was up by only a weak 1.7 percent, which partly reflects the end of a tax break for business investment last year.”

““I think what it says is consumers are coming back a bit, but firms are still holding back. They don’t feel confident enough in the recovery to start adding to capacity” and expanding, said Bill Craighead, an economics professor at Wesleyan University in Middletown, Conn. Consumers appear to be making up for cautious spending in recent years, more confident that the worst is over, he suggested.

The same can’t be said for American businesses.

“Given corporate profits, you might have hoped for more investment growth,” Craighead said. The economy continues to “hit the snooze button. … It’s acceptable growth in the normal economy, but given how many people are unemployed it is disappointing.””

http://www.mcclatchydc.com/2012/04/27/146970/us-economy-slows-to-22-percent.html

From McClatchy News April 23, 2012.

“U.S. economy faces likely slowdown, big year-end decisions”

“The U.S. economy is expected to slow later this year, dragged down by slowing global growth, rising anxiety about the elections and the specter of gridlock in Washington over urgent tax, spending and debt deadlines. The Bush-era tax cuts of 2001 and 2003 and the payroll tax cut of the past two years expire at year’s end, when last year’s debt deal also will force across-the-board cuts in federal spending unless Congress and the president strike new deals, but there’s no consensus on that.

A spate of recent indicators punctuated fears that the economy is stalling. March delivered only 120,000 new jobs, and the latest manufacturing and real estate data softened. Some economists say the economy’s strong six-month run through March might not be sustainable.

“If we’re right and growth was overstated in the first quarter and we see payback in the second and third quarters of this year, then it’s going to raise a lot of questions of just how much progress we’ve made over the past few years,” said Mark Vitner, a senior economist at Wells Fargo Securities in Charlotte, N.C.”

“Recent U.S. data have been discouraging for what remains the world’s largest economy.

In the two weeks after the April 6 release of the weak March employment numbers, first-time jobless claims rose. The Labor Department said last Thursday that the four-week average for unemployment claims stood at 374,750 _ the highest since January.

Additionally, the job placement firm Challenger, Gray & Christmas reported earlier this month that employers announced 9.4 percent more layoffs in the first three months of this year than the same period last year. Last year’s numbers, however, were the smallest number of layoffs since 1995.

It all points to slower hiring.

“Were we on the verge of a breakout? I think the answer is no,” said Kevin Logan, the chief U.S. economist for the global bank HSBC.

Noting that the economy is adding jobs in a monthly range of 100,000 to 200,000, Logan expects hiring to bump along the bottom. “The next few months, we’ll fall back into this slower pattern,” he said, adding that several drivers of the U.S. economy remain impaired.

Chief among them is the moribund housing market, which remains mired in a foreclosure crisis. What little housing is moving in many major U.S. cities is foreclosure sales and short-sales, dragging down home prices and erasing the potential wealth of neighbors.”

http://www.mcclatchydc.com/2012/04/23/v-print/146393/us-economy-faces-likely-slowdown.html

 

Elon poll reveals NC residents blame oil companies, OPEC for gas prices, Obama orwellian lies working?, Obama and Democrats more blame than Republicans

Elon poll reveals NC residents blame oil companies, OPEC for gas prices, Obama orwellian lies working?, Obama and Democrats more blame than Republicans

“Guilford (Large NC County) appears on it’s way to a third consecutive year with annual jobless rates in double digits. Economists say that likely hasn’t happened since the Great Depression.”…Greensboro News Record December 2, 2011

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. And yet he was in the right! They were wrong and he was right. The obvious, the silly, and the true had got to be defended. Truisms are true, hold on to that! The solid world exists, its laws do not change. Stones are hard, water is wet, objects unsupported fall towards the earth’s centre. “…George Orwell, “1984″

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

I posted the article yesterday about Obama lying about Oil Company profits and taxes after listening to his unceasing lies and knowing that the mainstream media      feeds them to the public Orwellian style. Right on cue a Elon University poll indicates that the NC public places more blame on the oil companies.

This is a teachable moment. Once again I refer to the concept of 6 degrees of separation. Our sphere of influence is powerful. Inform all of your friends and acquaintances and urge then to do the same. If they have questions I will be glad  to answer them.

From WRAL April 3, 2012.

“Poll: NC residents blame oil companies, OPEC for gas prices”

“Although Republican presidential candidates are blaming President Barack Obama for gas prices hovering around $4 a gallon, a poll released Tuesday shows most North Carolina residents point the finger at oil companies and foreign countries.

The Elon University Poll surveyed 534 residents statewide last week and also found that people were evenly split on a controversial method of natural gas drilling being considered by North Carolina lawmakers. The poll has a margin of error of plus or minus 4.24 percentage points.

Nearly three-quarters of those polled blamed oil companies for high gas prices, while foreign countries that produce oil were blamed by 58 percent of respondents.

The poll asked people to rank how much blame to assign to each group on a scale of 1 to 5, and the percentages reflect the number who assigned a 4 or 5 to each.

Obama’s administration was cited by 42 percent, Democrats in Congress by 41 percent and Republicans in Congress by 35 percent. Forty percent said American driving habits were to blame, while 34 percent blamed environmental regulations.

Most respondents said the U.S. needs to rely more on solar and wind power for its energy needs. Eighty-five percent supported more solar power, and 80 percent supported more wind power.

Meanwhile, 72 percent said the country needs to be less reliant on oil, and 63 percent said coal use needs to decline. Respondents were split on nuclear energy, with 42 percent calling for expansion and 50 percent saying less nuclear power should be used.

Seventy percent of those polled said natural gas needs to play a larger role in the nation’s energy mix, but a majority say they don’t know enough about a drilling process known as hydraulic fracturing, or “fracking,” to determine if it’s good for North Carolina.

Fracking involves drilling horizontally into underground deposits of shale and then pumping a high-pressure mix of water and chemicals into a well to break apart the rock and release natural gas.

Opponents of the process say it would damage water resources and contaminate the environment, while supporters say it would provide an economic boon to central North Carolina.

The state Department of Environment and Natural Resources has said fracking could be done safely in North Carolina if the proper safeguards were put in place first. The agency is expected to deliver its findings to lawmakers next month.

Twenty-two percent of Elon poll respondents say they oppose fracking in North Carolina, while 21 percent say they support it.”

http://www.wral.com/news/local/story/10939859/

From Citizen Wells April 3, 2012.

“And how big are the oil company profits?

Net profit margins:

Oil & Gas Refining & Marketing 3.00 %

Oil & Gas Pipelines 6.00 %

Compare these profit margins to other industries.

http://biz.yahoo.com/p/sum_qpmd.html

What about taxes?

First, the corporate tax rate in the US is near or at the top in the world.

US oil companies pay enormous amounts of taxes. How does this compare to one of Obama’s pay to play buddies GE? Check this out for yourself.

Here is the really important point about raising taxes on oil companies and other companies.

Companies (corporations, LLC’s, partnerships, sole proprietors) do not paytaxes!

Consumers pay for the tax increases.

Taxes are part of the cost of doing business.

A tax increase to a company results in some combination of the following:

Product and service price increases.

Employee and hours cutbacks.

Reduced hiring.

Does any of this sound familiar?

The Obama administration has been responsible for rising gas prices and they are now trying to raise them more.

Of course this has impacted food prices and jobs.

Sound familiar?”

https://citizenwells.wordpress.com/2012/04/03/obama-lies-on-oil-companies-taxes-profits-and-impact-on-consumers-obama-energy-policy-based-on-chicago-pay-to-play-politics-truth-team-notification/

What have been the 2 largest impacts on gasoline prices over the past 3 years?

Obama’s pay to play energy policy (Solyndra, et al) and the devaluation of the the dollar.

The Obama Administration has been directly responsible for the rising gas prices and subsequent crisis economy.

Obama has rewarded his cronies with unchecked corporate schemes and blocked efforts to increase oil production in this country. His record deficit spending has greatly devalued the dollar causing oil to cost more in US dollars.

The following graph, presented at Citizen Wells multiple times, says it all.

Obama lies on Oil Companies Taxes Profits and impact on consumers, Obama energy policy based on Chicago pay to play politics, Truth Team notification

Obama lies on Oil Companies Taxes Profits and impact on consumers, Obama energy policy based on Chicago pay to play politics, Truth Team notification

“The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command. His heart sank as he thought of the enormous power arrayed against him, the ease with which any Party intellectual would overthrow him in debate, the subtle arguments which he would not be able to understand, much less answer. And yet he was in the right! They were wrong and he was right. The obvious, the silly, and the true had got to be defended. Truisms are true, hold on to that! The solid world exists, its laws do not change. Stones are hard, water is wet, objects unsupported fall towards the earth’s centre. With the feeling that he was speaking to O’Brien, and also that he was setting forth an important axiom, he wrote:

Freedom is the freedom to say that two plus two make four. If that is granted, all else follows.”…George Orwell, “1984”

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

The Truth team was created to keep the candidates honest. Once again I am here to help the Truth Team in their efforts. One of the candidates, Barack Hussein Obama has been spreading lies about oil companies and where the blame should be put for high gas prices.

From Business Week March 29, 2012.

“Obama Says Oil Profits Justify Ending U.S. Tax Breaks”

“President Barack Obama said oil company profits justify abolishing $4 billion in annual oil and natural gas subsidies and shifting those savings to research on clean-energy fuels.

With the Senate scheduled to vote on the matter later today, Obama again urged Congress to repeal the tax breaks. The measure is opposed by Republicans, who have the votes to block the legislation.

“It’s not like these are companies that can’t stand on their own,” Obama said in prepared remarks delivered in the White House Rose Garden. Last year, the three biggest U.S. oil companies took home more than $80 billion in profit, with Exxon Mobil Corp. collecting almost $4.7 million each hour, he said.

“And when the price of oil goes up, prices at the pump go up, and so do these companies’ profits,” he said. “Meanwhile, these companies pay a lower tax rate than most other companies on their investments — partly because we’re giving them billions in tax giveaways every year.”

Energy company subsidies are a staple of Obama’s re- election campaign rhetoric, meant to highlight the differences between himself and Republican presidential candidates and cast them as defenders of such spending as they propose cuts in health and other social programs to reduce a deficit forecast at $1.3 trillion this year.

In his Feb. 13 budget, Obama said existing tax “loopholes and expenditures” for the oil and natural gas companies amount to an unwarranted “preference” of these industries over others.

Criticism of Republicans
At Ohio State University March 22, Obama ridiculed Republican presidential candidates as the “flat Earth crowd,” who’d “rather give $4 billion in taxpayer subsidies to oil companies this year than to invest in clean energy.”

“We have been subsidizing oil companies for a century. That’s long enough,” he said.

Republicans today cited a March 3 Congressional Research Service report that found repealing $22.8 billion in tax breaks over five years would reduce the tax breaks for independent companies and, on a small scale, “would make oil and natural gas more expensive for U.S. consumers and likely increase foreign dependence.”

Senate Republican Leader Mitch McConnell of Kentucky, in an e-mailed statement, said Obama’s proposal is a political gambit in an election year and called the plan a “tax hike on American energy manufacturers” that he’d oppose.

Brendan Buck, a spokesman for House Republican Speaker John Boehner, said today in an e-mail that the president is giving a speech “with gas prices at $3.92 per gallon, calling for policy that would make gas more expensive and increase foreign dependence on oil. You wouldn’t believe it, right? Yet this is happening.”

Ending such breaks would reduce the deficit by $41 billion over a decade, according to Obama’s budget for fiscal 2013.

Subsidies were worth $24 billion for the five largest oil companies operating in the U.S., including Irving, Texas’s Exxon Mobil Corp. (XOM) (XOM) and Chevron Corp. in San Ramon, California, Senate Democrats said.”

http://www.businessweek.com/news/2012-03-29/obama-says-oil-company-profits-justify-ending-u-dot-s-dot-tax-br

Let’s begin with profits.

Combined, US oil companies are huge and employ millions of employees. Of course their profits will be large numbers.

Also, we want them to make a profit so that they can keep the gasoline and other petroleum products flowing and people working. If they fail, so does our economy.

And how big are the oil company profits?

Net profit margins:

Oil & Gas Refining & Marketing 3.00 %

Oil & Gas Pipelines 6.00 %

Compare these profit margins to other industries.

http://biz.yahoo.com/p/sum_qpmd.html

What about taxes?

First, the corporate tax rate in the US is near or at the top in the world.

US oil companies pay enormous amounts of taxes. How does this compare to one of Obama’s pay to play buddies GE? Check this out for yourself.

Here is the really important point about raising taxes on oil companies and other companies.

Companies (corporations, LLC’s, partnerships, sole proprietors) do not pay taxes!

Consumers pay for the tax increases.

Taxes are part of the cost of doing business.

A tax increase to a company results in some combination of the following:

Product and service price increases.

Employee and hours cutbacks.

Reduced hiring.

Does any of this sound familiar?

The Obama administration has been responsible for rising gas prices and they are now trying to raise them more.

Of course this has impacted food prices and jobs.

Sound familiar?

Obama lies don’t add up, Real unemployment rate, CBO forcasts over 8 percent through 2013, 12.8 million unemployed, 43 percent jobless more than six months

Obama lies don’t add up, Real unemployment rate, CBO forcasts over 8 percent through 2013, 12.8 million unemployed, 43 percent jobless more than six months

“the Times of the nineteenth of December had published the official forecasts of the output of various classes of consumption goods in the fourth quarter of 1983, which was also the sixth quarter of the Ninth Three-Year Plan. Today’s issue contained a statement of the actual output, from which it appeared that the forecasts were in every instance grossly wrong. Winston’s job was to rectify the original figures by making them agree with the later ones.”…George Orwell, “1984”

“As soon as all the corrections which happened to be necessary in any partiucular number of the Times had been assembled and collated, that number would be reprinted, the original copy destroyed, and the corrected copy placed on the files in it’s stead. This process of continuation alteration was applied not only to newspapers, but to books, periodicals, pamphlets, posters, leaflets, films, sound tracks, cartoons, photographs–to every kind of literature or documentation which might conceivably hold any political or ideological significance. Day by day and almost minute by minute the past was brought up to date. In this way every prediction made by the Party could be shown by documentary evidence to be correct; nor was any item of news, or expression of opinion, which conflicted with the needs of the moment, ever allowed to be on record.”…George Orwell, “1984″ 

“And if all others accepted the lie which the Party imposed
–if all records told the same tale–then the lie passed into
history and became truth. “Who controls the past,” ran the
Party slogan, “controls the future: who controls the present
controls the past.”…George Orwell, “1984″

From the CBO January 2012.
“THE ECONOMIC OUTLOOK

In part because of the dampening effect of the higher tax rates and curbs on spending scheduled to occur this year and next, CBO expects that the economy will continue to recover slowly, with real GDP growing by 2.0 percent this year and 1.1 percent next year (as measured by the change from the fourth quarter of the previous calendar year). CBO expects economic activity to quicken after 2013 but to remain below the economy’s potential until 2018.

In CBO’s forecast, the unemployment rate remains above 8 percent both this year and next, a consequence of continued weakness in demand for goods and services. As economic growth picks up after 2013, the unemployment rate will gradually decline to around 7 percent by the end of 2015, before dropping to near 5½ percent by the end of 2017.”

http://www.cbo.gov/doc.cfm?index=12699

From Ezra Klein of the Washington Post February 1, 2012.

“Is the ‘real’ unemployment rate stuck?”
Back in December, the Financial Times’s Ed Luce estimated that “if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent.” Perhaps, many of us wrote at the time, that should be considered the “real” unemployment rate.

Today, Cardiff Garcia notes an unsettling chart from Nomura that compares the unemployment rate we have, where people can drop out of the labor force and thus out of the numbers, to this “real” unemployment rate, where discouraged workers aren’t dropped from the rolls. Worryingly, it’s barely moved:”

“What is striking about the broken line above isn’t where it now ends — at 10.3 per cent — but rather the lack of any meaningful, sustained improvement for more than two years,” comments Garcia. “This alternative measure has remained above 10 percent since September 2009, and aside from a bit of skittishness (some of which is down to uncaptured seasonality) has mostly just moved sideways.”

http://www.washingtonpost.com/blogs/ezra-klein/post/is-the-real-unemployment-rate-stuck/2011/08/25/gIQAVyiTiQ_blog.html

From Cal Thomas February 08, 2012.

“The Obama administration is touting the latest unemployment numbers released last week”

“The Obama administration is touting the latest unemployment numbers released last week by the U.S. Department of Labor as proof its policies are working. But a closer look at the actual number of able-bodied people who are willing to work, but do not, reveals a different picture.

As economist John R. Lott has written, not only is the drop in the unemployment rate from 8.5 percent to 8.3 percent still half a percentage point higher than when President Obama took office three years ago, the number of unemployed is also higher. Compared with January 2009 when 11.6 million Americans were jobless, today, writes Lott, “there are 12.8 million unemployed and 43 percent have been out of a job for more than six months. The average length of unemployment has increased dramatically since the recovery started. Back in June 2009, ‘only’ 29 percent of the unemployed had been unemployed longer than six months.”

The way government counts things, slower growth in government spending amounts to a cut. In a similar, misleading fashion, a reduction in the percentage of unemployed people by two-tenths of 1 percent counts as progress, even if it results from wide-scale work force dropout.

Lott examined the Labor Department’s statistics and found that the number of Americans not in the labor force — neither working nor seeking work — grew and was revised upward last month by 1.2 million. Most people who join this category have given up looking for work and are no longer counted as unemployed. That fact skews the statistics to make the employment picture appear better than it is.

Real unemployment is mostly ignored by the major media, which was happy to tout the latest jobless rate reduction as a boon to Obama and a problem for Republican front-runner Mitt Romney. Most reporting has focused on the impression voters might have of an economic recovery, or at least trending in the right direction. The opposite is true and it is up to Romney to make that case.”

“Many in the major media can’t be counted on to tell the truth about the economy if doing so makes Obama and his policies look bad. This means the Republican nominee will have to go over or around the media to make his case. The best way to do this is not with statistics, but with real people.”

“Featuring real people who are out of a job and desperately want to work would help undermine the Democrats as the party of compassion, while simultaneously blunting the Republican stereotype as the party that doesn’t care about the poor.

Democrats seem eager to get more people onto food stamps than to adopt policies that would free them from addiction to government and give them the dignity of a real job and the self-sufficiency that goes with it.”

http://www.calthomas.com/index.php?news=3477

 

Rush Limbaugh February 9, 2012, Mortgage lenders scapegoats for bad loans, Obama ACORN et al pushed low income loans

Rush Limbaugh February 9, 2012, Mortgage lenders scapegoats for bad loans, Obama ACORN et al pushed low income loans

“However, in light of the politically oriented thrust of ACORN’s activities, it is fair to ask whether the CHD subsidies to ACORN are advisable and commensurate with the purposes of CHD.”

“This commentary does not oppose CHD funding of genuine, grassroots community organizations, run and supported by individual members of a parish or diocese. There is potential value and virtue in the collective voice. However, when the CHD funds Alinsky-style, church-based community organizations as in the best interest of the poor and supports organizations which advance other agendas, it divests the poor of their right to an authentic voice. This process tends to treat the poor as exploited units of human capital, rather than as human beings created in the dignity of God’s image.”

“To accomplish its goals, as outlined in the People’s Platform, ACORN has developed a political alliance with the Democratic Socialists of America (DSA). Together with others, ACORN and the DSA have formed a political party, the New Party.”…Report to the  Catholic Bishops of the US, 1999

“Illinois: Three NP-members won Democratic primaries last Spring and face off against Republican opponents on election day: Danny Davis (U.S. House), Barack Obama (State Senate) and Patricia Martin (Cook County Judiciary).”…New Party website October 1996

“During its 15 years in New York City, ACORN has helped squatters claim derelict city-owned property, forced bankers to invest in low-income communities, and organized a war against the city’s workfare program.

It’s also developed a reputation for no-holds-barred tactics—getting results through adversarial campaigns against bankers, politicians and bureaucrats using confrontation and concession rather than consensus.”…ACORN document, February 1999

I don’t get to listen to Rush Limbaugh that much due to the fact, as my mom always told me, that the British Royal Family does not acknowledge my claim to the throne. In the midst of working today I was able to catch part of Rush’s show.

“BEGIN TRANSCRIPT

RUSH: On the foreclosure front, big news here. Eric Holder and attorneys general from 42 states have shaken down the country’s mortgage lenders for $25 billion. Folks, this whole notion of these predatory lenders and people being tricked into taking out a mortgage, have you ever heard of that happening? People wandering innocently by a bank on the street and some guy inside the bank with a hook grabs ’em in, “Okay, pal, you’re taking out a mortgage.” That’s what the regime wants us to believe happened with this.

So as part of a campaign effort here, reelection effort, $25 billion from the country’s mortgage lenders to give to customers who were hit upon and forced, under duress, to take out a mortgage… (interruption) What was that? Can you get a piece? Perhaps. I think everybody’s share comes out to as much as $20,000. You might get paid off as much as $20,000 here if I’m reading it right. Now, what this is, folks, is social justice at work, because after all, the banks were forced by the government at the point of a gun to loan to people they knew couldn’t afford the mortgages. That’s what really happened. That’s the root of the subprime mortgage crisis. It was the government forcing the banks to lend money to people that never had a chance, would never be able to repay the loans. Social justice, affordable housing, the so-called good intentions and don’t judge us on the failure of our results.

So now the banks have the pay the price for making those bad loans. This is all part of continuing the ruse that the banks were the originators of this scandal and the originators of the problem. And so now there’s a $25 billion shakedown. I’m gonna tell you, Snerdley, you can apply for it, but I’m gonna tell you all of you mortgage people, you are not gonna see a dime. This is nothing but a slush fund. What Obama has done is gone to the bank, ’cause they’re having trouble fundraising. They’re nowhere near their billion dollars they’ve been bragging about. You ought to see what they’re gonna do at their convention. They’re gonna charge, what is it, a million dollars for a skybox. A million-dollar donation or something like that, to witness Obama’s acceptance speech. I think there’s a million-dollar charge or donation for something.”
“Now, this is Obama servicing his constituents. He is fulfilling that campaign promise he made to pay their mortgages. You may think, “Come on, Rush, he didn’t promise that.” We ought to dig out sound bites from one of his early town halls in 2009, the famous one that was in I think Tampa where a woman, who it turned out had a couple of houses or whatever, stood up and wanted a new kitchen. She thought that’s what the election of Obama meant. That’s what she thought it meant. I’m sure a lot of people that voted for Obama thought that’s what their lives held in store for them. Obama was gonna give them a house. Obama was gonna make sure that all the transgressions and all the discrimination and all the evil that had been perpetrated against these people in all of these years since the country was founded is gonna be fixed here.

Obama’s gonna make sure they get what they’ve been denied. That’s what they thought. They even showed up at town halls and asked him. As I said previously mere moments ago and I think quite accurately, I will be shocked if any of these people ever see any of that $25 billion. It’s just gonna get laundered back to the Democrat National Committee, which most union salaries end up being laundered back, at least a percentage of them, to the Democrat National Committee. That’s where all of this kind of money, most of it, ends up ultimately. But we’re told that one million underwater homeowners could be eligible for as much as $20,000.”

“Some evil bankers came along and tricked them into taking out a mortgage. That’s the basic claim, that these evil bankers (who are all big supporters of Obama and the Democrat Party: JPMorgan Chase, General Motors Acceptance Corporation, Bank of America) tricked poor people into applying for mortgages. They tricked people into lying about their incomes and assets, and they used robosigning. Have you ever heard of robosigning? (interruption) You have? (interruption) You know what robosigning is? I didn’t know what it was. I had to dig deep and find out. You know where the term comes from? What it really means? Robosigning is a term that was coined by a foreclosure lawyer in Florida way back in October 2011. It was made up out of whole cloth.”

“OBAMA: Lenders who sold loans to people, uh, who couldn’t afford them — by buyers who knew they couldn’t afford them, by speculators who were looking to make a quick buck; by banks that took risky mortgages, packaged them up, uh, and traded them off for large profits. It was wrong, and it cost more than four million families their homes to foreclosure.

RUSH: That’s right. They were tricked! These poor schlubs, they were tricked into this, but now Obama’s getting even with the tricksters. Obama is getting even with these evil bankers, the lenders who sold loans to people that couldn’t afford them. I can’t tell you how big a lie all of this is. All of this is a lie. Well, some of this stuff happened, but the reason for it is a total, total lie. The banks did take risky mortgages and package ’em up and traded ’em off, sold ’em to other unsuspecting dupes until they weren’t any unsuspecting dupes left. And then it was, “Bye-bye, Lehman Brothers,” and, “Hello, bailouts,” and that’s exactly what happened.

The banks were told to lend money, people couldn’t afford ’em, they did. Under federal duress. There was no income stream on these mortgages because people couldn’t pay them back, they never qualified, they never were gonna be able to pay them back. So worthless mortgages with no income stream were packaged up sold. Mortgage-backed securities. Yes, a brand-new financial product and they were sold to unsuspecting people. “Look at the income stream from all of these mortgages,” and their eyes got big and they saw a monthly income stream out the wazoo! Until they found out nobody’s making payments on their mortgages. They couldn’t afford them. They had no money. So the second dupees found a new way to package the mortgages for a third set of dupees.

And they kept going and kept going until they weren’t any people left to dupe. And then it was time to bail everybody out for this. The people who did the right thing are the people who are gonna pay for the people who do the wrong thing. The people that did the right thing — got a mortgage, make the payments — you are the ones paying for the people that did the wrong thing. The banks bundled these mortgages to try to protect themselves. They were forced to make these transactions! They knew they are shaky. They were trying to share the risk. I don’t know, did Clinton and Obama just expect the banks to go under? Did they except them just to absorb all of this as the definition of “affordable housing” and “social justice”? Here’s the second Obama sound bite as he takes his victory lap here.”

http://www.rushlimbaugh.com/daily/2012/02/09/regime_shakes_down_banks_for_25_billion

Obama, Rezko, Penny Pritzker, Franklin Raines , Fannie Mae, Freddie Mac, et al.

Citizen Wells October 21, 2011.

https://citizenwells.wordpress.com/2011/10/21/obama-bank-failure-policies-acorn-penny-pritzker-cellini-trial-witness-rosenberg-dredges-up-old-memories-capri-capital-where-is-house-judiciary-committee/

Obama, et al,played a large role in creating the sub prime mortgage problem and in typical Obama fashion, he blames others.

Obama lied about his connections to Acorn:

  • Obama helped Acorn in organizing of “Project VOTE” in 1992.
  • Obama was a community organizer.
  • Obama represented Acorn as attorney, ACORN vs. Edgar.
  • Obama was involved in Acorn leadership training sessions.
  • Obama, Annenberg Challenge, William Ayers, Acorn.
  • Acorn, New party endorsement of Obama.
  • February 25th to May 17th 2008, Obama camp paid $832,598 to Acorn.
  • Acorn Voter fraud.
  • Obama may have stolen the nomination through Acorn voter fraud.


https://citizenwells.wordpress.com/2008/10/10/obama-acorn-community-organizer-new-party-democratic-socialists-of-america-dsa-saul-alinsky-obama-acorn-attorney-exploited-poor-acorn-voter-fraud-obama-lied-about-his-connection-to-acorn/

There is plenty more at Citizen Wells on Obama’s connections to ACORN and Chicago corruption ties and how they created this mess. A simple search will find them.

We are not hiring until Obama is gone, US Cranes New Company Policy, Bill Looman can’t afford to hire, Blames Obama administration

We are not hiring until Obama is gone, US Cranes New Company Policy, Bill Looman can’t afford to hire, Blames Obama administration

From 11Alive in Waco, Georgia November 23, 2011.

“Company Policy: We are not hiring until Obama is gone”

“A west Georgia business owner is stirring up controversy with signs he posted on his company’s trucks, for all to see as the trucks roll up and down roads, highways and interstates:

“New Company Policy: We are not hiring until Obama is gone.”

“Can’t afford it,” explained the employer, Bill Looman, Tuesday evening. “I’ve got people that I want to hire now, but I just can’t afford it. And I don’t foresee that I’ll be able to afford it unless some things change in D.C.”

Looman’s company is U.S. Cranes, LLC.  He said he put up the signs, and first posted pictures of the signs on his personal Facebook page, six months ago, and he said he received mostly positive reaction from people, “about 20-to-one positive.”

But for some reason, one of the photos went viral on the Internet on Monday.

And the reaction has been so intense, pro and con, he’s had to have his phones disconnected because of the non-stop calls, and he’s had to temporarily shut down his company’s website because of all the traffic crashing the system.

Looman made it clear, talking with 11Alive’s Jon Shirek, that he is not refusing to hire to make some political point; it’s that he doesn’t believe he can hire anyone, because of the economy. And he blames the Obama administration.”

“”The Secret Service left here, they were in a good mood and laughing,” Looman said. “I got the feeling they thought it was kind of ridiculous, and a waste of their time.”

So Bill Looman is keeping the signs up, and the photos up — stirring up a lot of debate.

“I just spent 10 years in the Marine Corps protecting the rights of people… the First Amendment, and the Second Amendment and the [rest of the] Bill of Rights,” he said. “Lord knows they’re calling me at 2 in the morning, all night long, and voicing their opinion. And I respect their right to do that. I’m getting a reaction, a lot of it’s negative, now. But a lot of people are waking up.””

Read more:

http://www.11alive.com/news/article/214228/3/Company-Policy-We-are-not-hiring-until-Obama-is-gone

Occupy Greensboro protest, Saturday October 15, 2011, Downtown Greensboro NC, Government and institutions for sale to the highest bidder

Occupy Greensboro protest, Saturday October 15, 2011, Downtown Greensboro NC, Government and institutions for sale to the highest bidder

The crowd at Occupy Greensboro was a fairly diverse group of people very different from the bulk of attendees at the Occupy Wall Street protest in NY City. Many of the Tea Party folks would have felt at home with signs blaming government. Of course the Che Guevarra flag  would not have been so inviting. I  am still watching the union and Obama camp involvement in NC and will continue to monitor it. Recently the ACLU was spotted near the University of NC at Greensboro with petitions against some form of job discrimination in NC. What they failed to mention is that NC is a right to work state. An employee can be fired for any reason. This keeps the unions out and companies in the state.

Morgan Freeman and other racists, most of the people in attendance were white since, duh, the majority of the population is.

From the Greensboro News Record October 15, 2011.

“When the Occupy movement that began on New York’s Wall Street comes to downtown Greensboro today, it will come with a head of steam that’s been building for weeks.

Organizers and supporters of Occupy Greensboro say the protests of economic inequity happening across the country inspired them to put together a local event.

Organizers say it also inspired them to do it the right way.”

“The group rented space at the park and the neighboring YWCA parking lot to avoid the standoff with police that happened at Occupy events in Boston and New York.

“The city greatly reduced its rental fee for us — from $700 a day to I believe around $200,” Wright said. “And we’ll have the YWCA parking lot for camping, which is private property.”

Initially, some in the group argued protesters should simply occupy the park without paying rent — under the theory there would be too many people for police to eject.

“In the end, we decided it was more important to have a good relationship with the city and the police,” Wright said.

Wright, a 29-year old who coaches lacrosse at Grimsley High and Wake Forest, said this is the first protest movement in which he’s taken part.”

Read more:

http://www.news-record.com/content/2011/10/14/article/occupy_organizers_want_family_event

From the Greensboro News Record October 16, 2011.

“Hundreds of protesters surrounded the Bank of America building downtown Saturday afternoon as part of the “Occupy Greensboro” protest.

“Banks got bailed out, we got sold out,” they chanted to the beat of a marching drum corps, raising handmade signs and unfurling banners.

“Lobbyists Eat the Constitution for Breakfast” read one.

“Eight Years of College and Laid off Twice,” another read. “Where’s My Bailout?”

Those who marched from the Phill G. McDonald Plaza to Festival Park said they were inspired by the movement that began on New York’s Wall Street and has spread all over the world.

Police Chief Ken Miller, who oversaw his officers at Festival Park and spent some time chatting with protesters, estimated the crowd at about 600.

Organizers had expected between 500 and 1,000 people.

Some of the targets of the protest: fraud in the financial industry, economic inequality, and elected officials who protesters said serve donors and lobbyists rather than the American people.

“It’s hard to live in America today without coming to the conclusion that our government and all of our institutions are for sale to the highest bidder,” said Michael Duncan, 22.

Duncan said he was lucky to find a job in computer technical support after he graduated from college two years ago — many of his friends didn’t.

But he was laid off just a few months later as the company he worked for downsized. He found another job after a few months but was laid off again within a year.

“Our economy is on the verge of collapse,” Duncan said. “And it’s because of a housing bubble created by bankers and people on Wall Street who sold us a bill of goods, defrauded the American people and then were bailed out by our government along with a lot of other major corporations as average workers were laid off, their pay cut, and their houses foreclosed.

“Anyone who isn’t angry about that hasn’t been paying attention.”

The demonstration remained peaceful. No arrests were made as of Saturday night.

The event’s organizers worked closely with police and city officials to be sure the demonstration would be safe, family friendly and nonviolent.”

“A few area elected officials and political candidates also were among the crowd, including at-large Greensboro City Council candidate Marikay Abuzuaiter and Guilford County Register of Deeds Jeff Thigpen.

Thigpen’s crusade against mortgage fraud and improper documentation by major national banks in Guilford County has gotten national media coverage.

“The people who started this aren’t the protesters,” Thigpen said. “They’re on Wall Street and they ran our economy into the ground. I believe in an America where there isn’t one standard for banks and another standard for the rest of us.””

Read more:

http://www.news-record.com/content/2011/10/15/article/600_march_downtown

Jeff Thigpen, the Guilford County Register of Deeds, is a good guy and a friend of mine. He has been doing some good work in the area of “robo signatures” and circumventing of chain of title in mortgages. However, he continues to repeat the party line in terms of placing the majority of blame for the economy and housing crisis on the lenders. More guilty in this sham are people like Chris Dodd, Barney Frank, Maxine Waters and Barack Obama in sync with organizations like ACORN who pressured banks to make loans to unqualified and risky borrowers. Jeff, I will be discussing that with you soon.