Thursday, December 6, 2012

Pres. Obama: Master of the "Plausible Lie."; You Make It-They Take it; Will Unemployment Rate Go UP?; Steelers Harrison on Belcher Shooting

Victoria's Secret Fashion Show A Hit Among People Who Don't Know Pornography Exists...The Onion

  • If the most recent Quinnipiac Poll is to be believed, Obama and Republicans are winning the PR on the fiscal cliff negotiations. By a margin of 2-1, those polled agreed with the president to let tax cuts expire for the wealthy. This does not surprise me in the least considering Obama was re-elected with one of the worst records of any president in modern history. To paraphrase Sen. Marco Rubio, you can't improve a country by making the rich poorer.
  • History also proves Pres. Obama and Democrats wrong. As Thomas Sowell and the Investor's Business Daily correctly pointed out:  Tax revenue to the Treasury went UP when tax rates were CUT during the Bush administration. It's one of the reasons why Sowell said of Pres. Obama: he's the master of the plausible lie.
  • If the Bush tax cuts do expire, the wealthy in California will be paying 52% of their income in taxes. They have a double whammy since Proposition 30 added 3 percentage points to the marginal state income tax rate.

  • So it comes down to this really and not difficult to understand (unless you're an Obama voter): You make it. They take it (common practice under Socialism and Communism).  You've probably heard of this definition of Socialism: It's a great system until you run out of other people's money.

  • If Bush tax cuts do expire, Americans will also be hit with a double whammy. Some ObamaCare taxes kick in. For example, a new surtax on investment income or 3.8% on investment income for those making over $200 grand (singles) or $250K for households. There will also be a hike in Medicare payroll taxes. In addition, there will be a new tax on medical device manufacturers, a 2.3% excise tax.
  • November's unemployment rate comes out tomorrow. But Gallup is already predicting a rise in unemployment to 8.3%. Their "real" unemployment rate (including those underemployed) is now at 17.2%. It'll be interesting to see what rate the government produces on Friday.
  • Restaurants have a labor union. It regularly cites its own surveys regarding the industry providing poor pay and benefits. That's true. But what this union fails to report is they do those surveys by unpaid workers who do not receive benefits themselves. USA Today ad.

  • The House ethics office may close down. I guess they've been embarrassed too many times by some of their members like the guy above who still managed to win his seat.
  • Some football players are smart. James Harrison of my Pittsburgh Steelers said of the Belcher shootings: "He did it. And he alone is responsible for it..." Get it Costas!