
Thursday, February 21, 2008
Manasquan Inlet NJ ~Dive Report~

"Star Wars" Reagan's expensive folly?

Obama... "Change" is about all you are gonna have left in your pocket...

The Washington Times has a commentary article by Lawrence Kudlow that talks about Obama's economic strategy plan for "Change"... The article is very good on brings up many good points that Obama does not bring up in his stump speech, but neither does Hillary in her economic game plan...
"He wants to spend $150 billion on a green-energy plan. He wants to establish an infrastructure investment bank to the tune of $60 billion".
Both Obama and Hillary talk of their "Green Energy" plans and tout how many "Green Jobs" will be made to benefit both the environment and those looking for work. Unfortunately neither of the Democratic Party candidates explain what happens when you hire somebody to replace all of those energy sucking incandescent with those funny looking curly-cue compact fluorescent bulbs. Sure this will create a "Green" workforce to go around and change the bulbs but what is the end result? The new Green CFR bulbs will save energy, which is good, but these bulbs also cost more and last much longer. Will the Democrats then provide free bulbs to those who can't, or don't want to afford paying for the change? Since these bulbs last about five years each what will happen to all of the workers now making the older bulbs that only last a year or so and are put of of a job?
"He wants to expand health insurance by roughly $65 billion. He wants to "reopen" trade deals, another way of saying he wants to raise the barriers to free trade. He intends to regulate the profits for drug companies, health insurers, and energy firms. He wants to establish a mortgage-interest tax credit. He wants to double the number of workers receiving the earned-income tax credit (EITC) and triple the EITC benefit for minimum-wage workers".
As already noted on RightsideVA lets look at some of these plans. Obama wants to regulate the profits of drug companies but how will he help these same companies bring new life saving drugs to market, which costs an average of $800 million per drug, to market? What happens when he takes the incentive away from developing new Drugs or energy sources to market and investments in these areas fall? The evil Exxon and other U.S. energy companies already pay about 45% tax rate to the government. Double and triple the EITC benefits? Where will the $$$ come from and is this nothing but wealth redistribution?
"The Obama spend-o-meter is now up around $800 billion. And tax increases on the rich won't pay for it. The middle class ultimately will shoulder this fiscal burden in terms of higher taxes and lower growth".
Tax increases on the "Rich" has resulted in lower money or incentives to risk money in investments which create small business, improvements and growth to existing business, and hire more people. This will also result in lower GDP and returns on the "Middle class" investments in the form of their mutual funds and 401k programs....
"Mr. Obama says he wants U.S. corporations to stop "shipping jobs overseas" and bring their cash back home. But if he really wanted U.S. companies to keep more of their profits in the states, he would call for a reduction in the corporate tax rate. Why isn't he demanding an end to the double-taxation of corporate earnings? It's simple: He wants higher taxes, too".
As noted in this other Washington Times article. The U.S. corporations are already getting hammered by the highest corporate tax rates already and where is the incentive to move this working capitol back into the states where it will only be hit by at 39.3% tax rate. Another thing. Corporations DO NOT PAY TAXES!!! The tax is paid by the consumer in the cost of the product produced by the corporations. Raise their taxes and you raise what we pay for the product. Take their profits and you take the profits of the shareholder investor which makes up the vast number of us "Middle Class" people who have invested in our future in the form of mutual funds and 401k programs... Many of us are in these programs for we fear the government will not have our money that we paid into Social Security when it comes time for our retirement... What's Obama's plan to deal with the Social Security problem?
Hold that "Change" still left in your pocket tightly...
Wednesday, February 20, 2008
Motocross at Expoland VA...

There has been much talk in the local media regarding the proposed Motocross track at Expoland… Once again a coordinated attack by a vocal group of homeowners will concentrate on the local government officials who will be tasked on deciding the ultimate outcome of this proposal…
With that this “Neighborhood Association” will focus on submitting a never ending supply of letters to local editors to keep their claims in the news as much as possible. Many of these claims focus on the noise, dust, and “Bad” element that a sport like this will attract…
Simply go to Google Search and enter “Expoland VA” in the maps section. You can then zoom into the area of Expo and get a detailed map of the area. Then click on the satellite icon and you will find a clear, recent photo of expoland and the surrounding area.
You will also find that the nearest cluster of homes is located across the four lane highway of Virginia Route 64 in Fishersville, VA. A roadway that provides a constant source of background noise from commuter traffic and truck traffic that has been there for many years. In fact this background noise was there before many of the “Neighborhood Association” members ever bought or built their homes.
Dust is another weak argument for the track would be “Watered Down” routinely for that provides a better surface for riding and any “Dust” that escapes would be minimal as compared to local farming functions which have also been present many years before any “Neighborhood Association”…
A simple argument of NIMBY (Not In My Back Yard) by people who wish to benefit from local community revenues as long as they do not possibly effect their little domains. At the same time they ignore the fact of potential tax revenue and business coming to the area benefiting many more people then those within the “Association”… Increased business at the local food places, potential new business in the form of a motorcycle center, increased business at the new Harley Davidson location, maxed out occupancy at the Hampton Inn just across the highway, and a sport destination within the County…

Monday, February 18, 2008
At it again...

Bill Clinton is at it again and the Drudge Report has links to the story about Bill losing his cool again in public and this time going after a Obama supporter...
There is even a link to the video that appears on YouTube showing Bill going after the Obama guy...
And then there are the links to other Video clips of Bill jumping ugly on the campaign trail and in his past...
Bill gets a little irate when questioned about the "Casino Caucus"
And then there is one of the younger Clinton at work in the past...
Then there was the time Bill jumped all over Wallace for asking the tough questions...
Lets not forget when the "First Black President" went down South to the church that Martin Luther King preached at and attended the services on MLK day...
Bet Hillary and her campaign can't wait until Springbreak comes along to keep Bill busy and away from blowing up on fellow Democrats during the campaign...
Sunday, February 17, 2008
"Allow me to add my two cents".... per gallon....

Allow me to throw in my “two cents” regarding the Virginia State Senate’s vote to “raise our gasoline tax by a penny per gallon in each of the next five years”.
The Daily News Record provides this information about the vote and comments from some of the Senators.
“According to an analysis of the bill performed by the legislative staff, the proposal would increase the state gas tax from 17.5 cents per gallon to 22.5 cents per gallon, an increase of 28.6 percent, and raise an estimated $1 billion over five years“.
That is one hefty increase in the tax burden being imposed on the citizens of Virginia over the next five years. After listening to the never ending finger pointing to the “Evil Oil Companies” by Hillary & friends blaming them for high fuel costs, many are quick to blame the oil companies.
As noted in this earlier RightsideVA post, "From 1977 to 2004, according to Tax Foundation data, U.S. oil companies cleared $630 billion after taxes while paying $518 billion in federal and state corporate taxes at an average rate of 45%“.
45% tax rate to the U.S. oil companies. Now that’s a little stiff in itself and the fact that Hillary & friends fail to mention is that the incorporated 45% tax on the oil companies is passed onto consumers like you and me…
Wait. That’s not all. “ Over the same period, an additional $1.34 trillion in excise fuel taxes was collected from consumers by the oil companies and turned over to various governments“.
Republican State Senator Obenshain pointed out the likely ugly future of this additional tax increase. “The revenues realized from the tax increase, Obenshain said, are unlikely to go for transportation needs. Instead, he said, the revenues would likely go to support new pet spending projects“.
And its not just the local government looking to take some more out of your pocket for their use. “The proposal to increase the state gasoline tax, Obenshain noted, comes after the National Surface Transportation Policy and Revenue Study Commission proposed Congress triple the federal gasoline tax from 18.4 cents per gallon to nearly 60 cents per gallon over five years“.
It is obvious that our infrastructure needs work and that is fine and should be done. The American taxpayer already pays a hefty amount to finance these projects and maintain our roads. The problem is pointed out by Senator Obenshain in his remarks about the probably end result of our additional tax money once making it to Richmond. We need to support strong Conservative Republicans like Senator Obenshain in their efforts to ensure proper use of our tax money instead of it being used for "Pet Projects"...
Saturday, February 16, 2008
Where are the volunteers?… “Tax Me More Fund”

The Washington Times had an interesting article on this fund and how some of those who call for the “Rich” to pay more are actually part of the “Rich” themselves and should feel free to contribute to this special fund.
The Virginia “Tax Me More Fund” took in a whopping $19.36 in 2006 and in fact has contributed the amount of 0.00000005 percent of Virginia's budget since 2002, or $10,217.04
"It's amazing how people want to tax other people for every idea they have, and they are not willing to step up to the plate themselves, said Delegate M. Kirkland Cox, Colonial Heights Republican and a sponsor of the legislation that created the Virginia fund. "It's a real good way to make a point."
But this is not just limited to Virginia and in fact it seems some very wealthy people feel that that the “Rich” do not pay their fair share.
“Warren Buffet, who at $52 billion is the third richest man in the world, blasted the U.S. tax system for allowing him to pay a lower income tax rate than his secretary and his cleaning lady do. A speaker at a fundraiser for Hillary Clinton, Buffet said, "If you're in the luckiest 1 percent of humanity, you owe it to the rest of humanity to think about the other 99 percent."
“Buffet's secretary was taxed at a rate of 30 percent of the $60,000 she earned last year. Buffet, without seeking tax shelters or loopholes, paid less than 18 percent of his $46 million in income last year in tax“.
The interesting thing is that Warren fails to state that his secretary is paying “Income Tax” on the money she made at a 30% rate while he paid slightly over the 15% capital gains tax on the money he made off of “Investments”. I agree his secretary is paying too much, as most of us are, in the form of “Income” tax and this should be lowered. This would allow us workers to accumulate more wealth and also increase our investments in the world economy. Warren is just living off of the money he makes from investing a small part of his $52 billion and is paying the capital gains tax at a little over the 15% rate… Warren, please feel free to contribute to the “Tax Me More Fund” at anytime. And of that $46 million he made last year in investments, how many jobs were created, maintained, and improved from his investments and the investments of others? Tax the “Rich” more and will they not take their money elsewhere for a better returns? Will my mutual fund and 401k look elsewhere to invest if Congress decides to make the “Rich Pay Their Fair Share” and raise capital gains taxes? I am not part of the “Rich” but I am part of the “Mutual Fund” rich who pool our money together and invest in our future…

Hillary, you and Bill can make a joint contribution to the “Tax me more fund” the next time you get the urge to raise our taxes…
Friday, February 15, 2008
Hillary wants YOUR profits!...
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Speaking today at the DNC's winter meeting, she let that same Hillary-knows-best side show:"The other day the oil companies recorded the highest profits in the history of the world. I want to take those profits".
"Many of you are well enough off that [President Bush's] tax cuts may have helped you. We're saying that for America to get back on track, we're probably going to cut that short and not give it to you. We're going to have to take things away from you on behalf of the common good."
Hillary and many of her Democratic friends in Congress claim that they “Feel our pain” at the gas pump and want to do something about the outrageous profits being made by the oil companies. But lets take a look at those profits and who is really making out with the money taken from us at the pumps…
Investors business Daily has a very good article and information showing how much the “evil oil companies” actually make and which pockets the profits end up at…
“On those "outlandish" 2006 profits, the company paid federal income taxes of $27.9 billion, leaving it with $39.5 billion in after-tax income. That $27.9 billion was more than was collected from half of individual taxpayers in 2004.
In that year, 65 million returns — which represent far more than 65 million taxpayers because of joint returns — paid $27.4 billion in federal income taxes. And those taxes were paid on adjusted gross income of $922 billion, according to IRS data, yielding an average tax rate of 2.97%“.
And it's not just Exxon Mobil that's paying the freight. From 1977 to 2004, according to Tax Foundation data, U.S. oil companies cleared $630 billion after taxes while paying $518 billion in federal and state corporate taxes at an average rate of 45%“.
Hillary and friends could also lower their “Outrageous” and record profits they are getting from these tax revenues and effectively decreasing our “Pain at the pump” if they truly wanted to…
And another thing. These profits that they talk about. Who\where is the actual Mr. Exxon and where does he live? Take a look at your 401k and or mutual fund and you will find that your retirement is probably invested in these “evil oil companies” and you are the one benefiting from the profits Hillary wants to take…
Wednesday, February 13, 2008
Obama Wins Virginia!!!... well, maybe not...

Obama won the votes in Virginia over Hillary yesterday by an impressive margin and the voters of the Democratic Party delivered a win in a primary that was Hillary's to be had several months ago... But if it comes down to the Super Delegates in a close race at the time of the Democratic Party convention, the Clinton-machine might just have a surprise for Obama and his voters...
"Delegate Jennifer L. McClellan, Richmond Democrat, said yesterday she will vote for Sen. Hillary Rodham Clinton regardless of primary outcomes".
There was an interesting ARTICLE about this yesterday that describes "what just might happen" when it comes to that big party in a couple of months...
"I will cast my vote at the convention for her unless she withdraws from the race because I still believe her to be the best candidate for the job," she said. "I imagine those superdelegates who have committed to Senator [Barack] Obama feel the same way."
"However, Mr. Kaine said the previous night, at the annual Jefferson-Jackson Dinner, in Richmond, he had "declared his allegiance and am not changing."