An article caught my eye as Pennsylvania’s new governor has floated another idea for a new tax. He’d like to tax lottery winnings. The Feds already tax the winnings, but apparently the state wants their piece also. This is not an anti-tax post, but part of the newspaper article stunned me (see photograph).
Here we have a 40-something woman who claims to purchase $300.00 worth of lottery tickets every week. Okay let me repeat that…she spends $3oo every freaking week to buy a chance to win big bucks and she seems to be driven by the fact that she won $2,500 a few years ago. So she spends over $15,000 a year to win $2,500 every couple of years. My God do we need to teach economics in our schools though it’s obviously far too late for this lady.
This clip isn’t quite as telling as the “Cadillac Tax” was known, even though not widely covered and delayed until after certain elections. It is interesting that this arrogant wonk considers it bravery to go after people’s money. He reportedly was paid over $400,000.00 of your money for his input and advocacy. Why wasn’t he “brave” and give that money back? I just love when rich folks tell the rest of us that we need to pay more in taxes.
I often (usually) listen to commercial talk radio during the day when possible and certainly on the commute to/from work. Since I said “commercial” talk radio you know it must be conservative talk radio as there are no viable, commercial, liberal talk shows or stations at least that can be found. I am often surprised at some of the advertisements that folks pay to play to a mostly conservative audience. Some of the stuff just seems like a complete waste of money.
You gotta love the chutzpah of FOO (friend of Obama) Warren Buffet who again called for increased INCOME taxes on the rich like him. He is certainly the media darling for his continued support of Obama and was amply rewarded when friend Obama nixed the Keystone XL Pipeline. It seems that now all that oil has to be hauled by rail;
“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”
The main stream (old media) covers for them…at least the Demoncrats.
Brief 1: July’s jobs report came out and Obama hit the stump bragging about how many private sector jobs were created that month. Apparently we are heading in the right direction;
“That means that we’ve now created 4.5 million new jobs over the last 29 months, and 1.1 million new jobs so far this year. Those are our neighbors and family members finding work and the security that comes with work.”
No there wasn’t some new battle 201 years ago. The war is happening now or at least hopefully there is a war, but one can never be sure about the Republicans. As Congress is trying to pass a transportation bill many legislators like to seize the opportunity (or “crisis”) to do bad things that we end up paying for (or amendments that have nothing to do with the original intent of the bill or to stick on things that they hope no one will notice). Under consideration is the Democrat “Moving Ahead for Progress in the 21st Century Act.” Boy doesn’t that sound nice and with the bunch in Washington one must, however, be cognizant of the the use of the word “progress” since the Progressives are little more than Socialists. This is a highway construction funding bill (funny, but I initially typed “bull” by mistake), but the elected officials in Washington have decided that this HIGHWAY CONSTRUCTION BILL needs the following:
Sometimes I need help explaining what appears to be inexplicable…
Our local chapter of the “Occupy” movement (though they really don’t move all that much) has been occupying a local, privately owned park in the downtown area of Pittsburgh. The owner, BNY New York, had been allowing the occupation, but recently figured out that placating stooges who hate you won’t make them like you. In fact they lose respect for you, feel like they can push you around, and seek more. That’s the whole “Occupy” movement.
“You built a factory out there? Good for you. But I want to be clear: you moved your goods to market on the roads the rest of us paid for; you hired workers the rest of us paid to educate; you were safe in your factory because of police forces and fire forces that the rest of us paid for. You didn’t have to worry that marauding bands would come and seize everything at your factory, and hire someone to protect against this, because of the work the rest of us did. Now look, you built a factory and it turned into something terrific, or a great idea? God bless. Keep a big hunk of it. But part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.”
I often wonder how political “leaders” can look at a problem and see such divergent paths to remedy the situation. In my adult life, this period is the worst that I have encountered. I don’t care that pundits say that the “recession is over” because it doesn’t feel that way to me or my wallet. Author Arthur Laffer provides an in-depth look at the state of the economy and gives a pretty detailed prescription for bringing America out of the blackness (redness if you are an accountant). Return to Prosperity should have used this quote from one of our presidents very early in the book,