Wintery Knight

…integrating Christian faith and knowledge in the public square

What causes outsourcing, offshoring and tax avoidance? Greedy Democrat tax policies

I have to link to this Fox News editorial, because they linked to my blog, and because it features a sensible libertarian Wayne Allyn Root, whom I blogged about before.

Excerpt:

The signs are everywhere that a tax rebellion has begun.

The latest U.S. Census showed us that the states with low taxes enjoyed the fastest population growth- states like Nevada, Texas, Florida, and Arizona.

Not surprisingly, the states losing the most population are all high tax states like California, New York, New Jersey, Connecticut, Maryland, and of course Obama’s Illinois.

These states that Americans are running from are all governed just like Obama wants to govern the entire country. Soon these same Americans running away from California, New York and Illinois will instead be running away from America.

Ask the co-founder of Facebook, who recently renounced his citizenship and left for Singapore (where the capital gains taxes are zero).

Ask big-time Democratic contributor Denise Rich, who recently renounced her citizenship to leave for Austria.

The trickle is turning into a torrent. Record numbers of wealthy Americans are giving up their citizenship- eight times more than before Obama became president.

Of course we already know that only one year after the UK imposed a “Millionaires Tax” two thirds of the millionaires in England disappeared off the tax rolls.

High taxes have worked well in England…they are about to endure an unheard of in history triple dip recession…the third recession in 5 years. Folks that’s called a Great Depression.

We already know that millionaires are escaping France at a record pace because of high tax rates imposed by the new Obama-clone Socialist President of France. Even leftist actors like Gerard Depardieu have been forced to abandon the country they love.

The famous actor isn’t alone. Requests by citizens to leave France are up by 500%.

But then came the coup de grace. Former French President Nicolas Sarkozy has just announced he is leaving France because of taxes.

High taxes are even chasing away the presidents of their own countries!

High taxes work great in France. Their Labor Minister announced just this week that France is “totally bankrupt.” His words.

I removed all the links from the excerpt except the link to me. But you can see all the links on the original Fox News version of the article.

I think that there is this attitude on the left that the hardest-working people are like sitting pigeons. That they can be financially raped over and over by rhetoricians who preen themselves in the public eye, while demonizing their victims. It doesn’t go on forever. Eventually people who produce scale back their efforts, or just move somewhere else. Why work for other people who hate you? Charity is one thing, but slavery is something else entirely. Companies also respond to incentives, and shift to greener pastures where the socialists are not in charge.

Filed under: News, , , , , , , , , , , ,

Surprise! WMDs from Iraq were moved to Syria by Saddam Hussein

As I expected. I wonder if the mainstream media will apologize now that the truth is out.

Expected:

As the regime of Bashar Assad disintegrates, the security of his chemical arsenal is in jeopardy. The No. 2 general in Saddam Hussein’s air force says they were the WMDs we didn’t find in Iraq.

King Abdullah of neighboring Jordan warned that a disintegrating Syria on the verge of civil war puts Syria’s stockpile of chemical weapons at risk of falling into the hands of al-Qaida.

“One of the worst-case scenarios as we are obviously trying to look for a political solution would be if some of those chemical stockpiles were to fall into unfriendly hands,” he said.

The irony here is that the chemical weapons stockpile of Syrian thug Assad may in large part be the legacy of weapons moved from Hussein’s Iraq into Syria before Operation Iraqi Freedom.

If so, this may be the reason not much was found in the way of WMD by victorious U.S. forces in 2003.

In 2006, former Iraqi general Georges Sada, second in command of the Iraqi Air Force who served under Saddam Hussein before he defected, wrote a comprehensive book, “Saddam’s Secrets.”

It details how the Iraqi Revolutionary Guard moved weapons of mass destruction into Syria in advance of the U.S.-led action to eliminate Hussein’s WMD threat.

As Sada told the New York Sun, two Iraqi Airways Boeings were converted to cargo planes by removing the seats, and special Republican Guard units loaded the planes with chemical weapons materials.

There were 56 flights disguised as a relief effort after a 2002 Syrian dam collapse.

There were also truck convoys into Syria. Sada’s comments came more than a month after Israel’s top general during Operation Iraqi Freedom, Moshe Yaalon, told the Sun that Saddam “transferred the chemical agents from Iraq to Syria.”

Both Israeli and U.S. intelligence observed large truck convoys leaving Iraq and entering Syria in the weeks and months before Operation Iraqi Freedom, John Shaw, former deputy undersecretary of defense for international technology security, told a private conference of former weapons inspectors and intelligence experts held in Arlington, Va., in 2006.

Well, there you have it. Should you believe the mainstream media?

Filed under: News, , , , , , , , , , , , , , , , , , , , , , , ,

A critical evaluation of Obama’s economic narrative, using evidence

This article is currently the most popular one on Investors Business Daily.

Excerpt:

In making his case for re-election in the face of historically high unemployment and sluggish growth, President Obama has a simple and straightforward argument.

Things were terrible when I arrived, he says, thanks to Bush-era policies of tax cuts and deregulation. We stopped the decline, but the ditch was so deep that it will take time to get out. Still, we are making progress, even if it isn’t as fast as everyone would like.

So the last thing we want to do is return to the failed Bush policies that, he says, drove us into the ditch.

That argument appears to be working. More people continue to blame Bush than Obama for the current poor state of affairs, and some surveys show that consumer confidence has recently increased.

But each part of Obama’s argument is based on claims that are not accurate…

The article lists 5 claims made by Obama, and assesses each claim against the evidence.

Here are the 5 claims:

  1. Bush tax cuts and deregulation caused the recession.
  2. I stopped a second Great Depression.
  3. My policies are working.
  4. A slow recovery was inevitable.
  5. Nobody could have done any better.

And here’s the critique of point number one: (links removed)

At a campaign rally, Obama said Romney is “just churning out the same ideas that we saw in the decade before I took office . . . the same tax cuts and deregulation agenda that helped get us into this mess in the first place.”

It’s a standard Obama talking point. But it’s not true. Bush’s tax cuts did not cause the last recession.

In fact, once they were fully in effect in 2003, they sparked stronger growth — generating more than 8 million new jobs over the next four years, and GDP growth averaging close to 3%.

Those tax cuts didn’t explode the deficit, either, as Obama frequently claims. Deficits steadily declined after 2003, until the recession hit.

Nor was Bush a deregulator. Conservative Heritage Foundation’s regulation expert James Gattuso concluded, after reviewing Bush’s record, that “regulation grew substantially during the Bush years.”

Even the Washington Post’s fact-checker, Glenn Kessler, gave Obama’s claim three out of four “Pinocchios,” saying “it is time for the Obama campaign to retire this talking point, no matter how much it seems to resonate with voters.”

What did cause the economic crisis? The housing bubble. And that, in turn, was the result of a determined federal effort to boost homeownership by, among other things, pressuring banks to lower lending standards.

Now I know that some people (like Jerry) who get their policy news from the Comedy Channel think that the Bush tax cuts made the deficits explode, but of course, deficits were shrinking until the two spendthrifts Nancy Pelosi and Harry Reid got hold of the purse strings after taking the House and Senate in 2007.

Look:

Barack Obama: Budget Deficits

Barack Obama: Budget Deficits – last GOP budget was 2007

Similarly, Obama clowns on the Comedy Channel and MSNBC also think that the Bush tax cuts made revenues go down.

Ooops:

Did the Bush tax cuts make revenues decrease? No!

Did the Bush tax cuts make revenues decrease? No!

You can tune into MSNBC and the Comedy Channel on any given night and see the clowns there claiming that Bush’s $160 billion deficit in 2007 is actually higher than the $450 billion deficit in 2004, after the 2.2 trillion of tax cuts were passed.

Read the whole thing, it will help you to be persuasive when discussing Obama’s rhetoric. People aren’t saying that Romney won the debate because he had “zingers”. People are saying that Romney won the debate because he had facts and evidence. 

My prescription for voters in this election is more economics, and cut back on the Comedy Channel. Democrats must all buy Thomas Sowell’s “Basic Economics” and read that all the way through. I know that graphs aren’t as entertaining as Rachel Madclown, but we all must make an effort for the sake of the prosperity of our children, and our children’s children.

Filed under: News, , , , , , , , , , , , , , ,

Which President causes more outsourcing? Obama or Bush?

From Hans Bader, a realistic assessment of Obama’s record on outsourcing.

Excerpt:

“79 percent” of all green-jobs funding in Obama’s $800 billion stimulus package went to foreign companies, with the largest payment going to a bankrupt Australian company.  For example, the Obama Administration spent $1.6 billion on Chinese and other foreign wind power. The practical effect of those subsidies was to outsource American jobs.  ABC News reported on thesubsidies for Chinese wind turbines contained in the stimulus package:

Despite all the talk of green jobs, the overwhelming majority of stimulus money spent on wind power has gone to foreign companies, according to a new report by the Investigative Reporting Workshop at the American University’s School of Communication in Washington, D.C.

Nearly $2 billion . . . has been spent on wind power. . .But the study found that nearly 80 percent of that money has gone to foreign manufacturers of wind turbines.

“Most of the jobs are going overseas,” said Russ Choma at the Investigative Reporting Workshop. He analyzed which foreign firms had accepted the most stimulus money. “According to our estimates, about 6,000 jobs have been created overseas, and maybe a couple hundred have been created in the U.S.” Even with the infusion of so much stimulus money, a recent report by American Wind Energy Association showed a drop in U.S. wind manufacturing jobs last year.

The stimulus package also showered money on left-wing community organizers and liberal lobbying groups.

Earlier, NewsMax reported on a $2 billion subsidized loan by the U.S. government to a Brazilian oil company:

Gulf Oil CEO Joe Petrowski says President Barack Obama’s weekend comments in Brazil that the United States looks forward to purchasing oil drilled for offshore by that nation “is rather puzzling,” and “hypocritical” as his administration has imposed a virtual moratorium on domestic drilling. The signal to purchase more foreign oil comes after the U.S. Export-Import Bank invested more than $2 billion with Brazil’s state-owned oil company, Petrobras, to finance exploration.

The CEO of General Electric, which has received government “green jobs” money, is a close Obama advisor.  GE has been busy outsourcing American jobs, eliminating a fifth of its U.S. workforce since 2002.  GE made $14.2 billion in profits in 2010, but paid no taxes at all, even though America’s corporate tax rates are among the highest in the world.  Indeed, GE actuallyreceived a tax benefit of $3.2 billion from the government in 2010, and received a preferential bailout at taxpayer expense.

Read the whole post. It just goes on and on and on and on like this. What causes outsourcing? When you have the highest corporate tax rate in the world – that causes outsourcing. When you keep piling on regulations and regulations onto businesses, from Obamacare to Dodd-Frank – that causes outsourcing. When you take money collected from taxes paid by American businesses and hand it out to foreign companies owned by Democrat-allies – that causes outsourcing. When you block energy companies from developing energy here at home – that causes outsourcing.

Filed under: Polemics, , , , , ,

In 2013, taxpayers will be paying more of their incomes to government

From CNS News.

Excerpt:

The tax increases scheduled to take effect in January 2013 – dubbed Taxmageddon – could have the American people spending more days than ever working to pay for federal and state government, areport from the Tax Foundation shows.

A host of tax rates are scheduled to rise in January 2013 – when George W. Bush-era tax rates and the annual patch for the Alternative Minimum Tax expire – leading to a tax increase of approximately $500 billion in 2013, according to the conservative Heritage Foundation.

The Congressional Budget Office reported in January that taxes would increase by $4.6 trillion over ten years, if Congress allows the rates to rise as scheduled at the end of this year.

Tax Foundation economist William McBride estimated that this historic tax increase would push Tax Freedom Day to its latest point ever.

Tax Freedom Day is the day when – theoretically – Americans begin working for themselves and can stop paying for government. It assumes that 100 percent of a person’s wages go to paying for federal and state tax burdens. The day when government operations are fully paid for is Tax Freedom Day.

In 2012, Tax Freedom Day was April 17. However, Taxmageddon may push it until the end of April or beyond, McBride reported in a blog post on the foundation’s website. At the federal level, the 2012 tax increases would add 11 days to the Tax Freedom Day calculation, pushing it to April 28.

Adding in rising state and local tax revenues could push Tax Freedom Day beyond its May 1 record.

The Taxmageddon provisions adding to the cost of government – measured in the days that Americans will spend paying for it – are as follows:

  • Bush tax rates – 2.6 days
  • Alternative Minimum Tax – 2.2 days
  • Small business tax cuts – 0.4 days
  • Corporate income tax – 3.4 days
  • Payroll tax cut – 2.5 days
  • Estate tax – 0.2 days

One of the problems with all of this voting for bigger government is that there is less money for people to make their marriages and families work. The more we vote for bigger government, the less we haves as individuals for our own plans, including our marriage and family plans.

Filed under: News, , , , , , , , , , , , , , ,

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