Endless Sun Solar

Category: Your Tax $

The use and misuse of your tax dollars...nobody would spend their own money this way...just yours.


Shared Responsibility Payment? – Today’s Quote

Your 2014 tax return will ask if you had insurance coverage or qualified for an exemption.  If not, you may owe a shared responsibility payment when you file in 2015. The Internal Revenue Service in Four-Tax-Facts-about-the-Health-Care-Law-for-Individuals Andrew’s Note:  Doesn’t it sound so much better when they call it a “shared responsibility payment” instead of a TAX.  Americans For Tax Reform calls the term Orwellian and it makes you wonder what other shared responsibilities the legislative, executive and judicial branches will select for us next.  Can’t you just hear the rallying call of the founding fathers ‘shared responsibility payments without representation is treason!’  I think ‘shared responsibility payment’ will have to be the next entry in our Newspeak, A Modern Political Dictionary FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

MSNBC Says Welfare For All – Today’s Quote

The basic concept is simple…  Every non-incarcerated adult citizen gets a monthly check from the government.  Other safety net programs are jettisoned to pay for the mincome, and poverty is eliminated. MSNBC Host Krystal Ball via The Blaze  Andrew’s Note:  Well not exactly welfare for all…we’re going to leave the convicts out.  The folly of “Universal Basic Income” rears its head in the media again.   …aside…think that’s her real name? FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Unemployment For The Employed? – Today’s Quote

Let us vote to provide for unemployment insurance for working men and women so that faces across America will not have the tear of desperation on their face… we cannot allow this to happen this season of joy and giving. Representative Sheila Jackson-Lee Andrew’s Note:  What are you thinking Houston, Texas?  You’ve given this self described “influential and forceful voice in Washington” nearly two decades to implement her great ideas…like this one to give unemployment insurance to employed people.  As you may recall, this is the same public official that once asked NASA workers involved with the Mars Pathfinder program if the rover had taken a picture of the flag planted by the Apollo astronauts. FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

The Folly of the Universal Basic Income

A journalist for The Atlantic named Elizabeth Stoker and her colleague Matt Bruenig are trying to create a monster even more destructive than Stoker’s namesake Bram created..but this one is known as the Universal Basic Income. In the United States, we are generally told that poverty is a deeply complicated problem whose solution requires dozens of reforms on issues as diverse as public schooling, job training, and marriage. But it’s not true. High rates of poverty can, as a policy matter, be solved with trivial ease. How? By simply giving the poor money. via How to Cut the Poverty Rate in Half (It’s Easy) – Matt Bruenig and Elizabeth Stoker – The Atlantic The economically undereducated due go on to point out how simple the process would be and all the great benefits like: Increased tax revenues…from taxing a portion of the money that government gives away to every adult in the nation that it raises in taxes and presumably borrowing Elimination of the exorbitant cost of all those poverty fighting programs…but they go on to say their proposal will cost more than double the cost of all those programs and their inefficient management In addition to the obvious inflationary affects of dumping an additional $2+ Trillion into the U.S. generated from an additional $2+ Trillion in taxes, the very idea of a “Universal Basic Income” is insidious as part of the ever increasing government led disincentive to work, create and build.  You don’t need an economics degree to understand that more money chasing the same limited quantities of goods leads to higher prices (and a new, higher $$ definition of poverty)… all you have to do is look at what happens to the price of a generator after a power outage (yes an extreme example but accurate and illustrative.  These writers even think they’ve figured out how to...

It’s the Spending, Stupid! – Today’s Quote

Ludicrous, irresponsible spending is why we’re in trouble. As columnist Ron Hart points out, [President] Bill Clinton’s balanced budget spent $1.7 trillion. “Adjusted for inflation,” he writes, “our federal government would (have) a $200 billion surplus. But instead of increasing government spending in line with normal inflation, under [President] Bush and [President] Obama we are spending $3.8 trillion today. Democrats, who believe we have a ‘revenue’ problem instead of a ‘spending’ problem, must also think they have a bartender problem, not a drinking problem.” The media obsess about tax rates, but spending is more important. As Milton Friedman taught us, spending is a far more accurate gauge of the government burden. If government spends a dollar, that dollar is taxed away from someone. If it’s borrowed, it’s removed from productive use, setting the stage for higher taxes later. If the government prints more dollars to fund spending, our purchasing power falls. Transferring purchasing power from the people to the government via inflation is a form of taxation. If Republicans and Democrats reach a deal, the tax increases will be real — but spending “cuts” probably illusions. If they actually happen, they will only be reductions in already planned increases. John Stossel via It’s the Spending, Stupid! by John Stossel FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Cruz Says Abolish The IRS – Today’s Quote

I think we ought to abolish the IRS and instead move to a simple flat tax where the average American can fill out taxes on postcard…  Put down how much you earn, put down a deduction for charitable contributions, home mortgage and how much you owe.  It ought to be a simple one-page postcard, and take the agents, the bureaucracy out of Washington and limit the power of government. Senator Ted Cruz Andrew’s Note:  Unfortunately instead of having less need for the IRS we’ve added a whole new line of business to their portfolio.  Beginning in 2014 the IRS will be monitoring your health insurance to make sure you’re in compliance with the Affordable Care Act AKA Obamacare…I guess it makes a kind of sense…the current level of taxation does make me sick! FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Treasury Bad At Math Or Bad At Compliance?

According to the Competitive Enterprise Institute (CEI) in their Annual Snapshot of The Federal Regulatory State, The Ten Thousand Commandments, the annual cost of compliance for that we must pay to stay within the ‘ten thousand commandments’ is over $1.8 Trillion!  Explained another way, for every dollar in revenue that the U.S. government took in during fiscal year 2012, consumers and businesses paid another 73 cents in compliance costs.  Those of us who own businesses see the costs of compliance directly (tax preparation, ACA, HIPPA, EPA regulations, etc.) and costs are necessarily passed through to the consumers.  Those consumers also see direct compliance costs through items like the cost of tax preparation. When I have to spend so much time, money and energy making sure I’m in compliance with laws and regulations…why does our Federal Government get a pass whenever they feel that a law or regulation is an annoyance.  Living with the Affordable Care Act AKA Obamacare was an annoyance for Congressional employees so the government recently passed a new law exempting Congress and it’s staffers from the laws that the rest of us have to live with.  In that case, at least Congress changed the law…but there are a number of other recent cases where our own government just ignores the laws it finds annoying.  One such law that seems to be annoying our executive branch is the spending cap passed by Congress: The Treasury Department’s Financial Management Service FMS, which publishes both the federal government’s official Daily Treasury Statement and its official Monthly Treasury Statement, is reporting that in July the federal government ran a deficit of $98 billion but that the federal government’s debt remained exactly $16,699,396,000,000 for the entire month.  The FMS said that the deficit went up $98 billion $97,594,000,000 in the Monthly Treasury Statement for July, which it released on Monday.  At...

Reagan on Government’s View of The Economy – Today’s Quote

Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it. Union Leader and President, Ronald Reagan FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Civilized Taxes? – Today’s Quote

Taxes are what we pay for civilized society. Justice Oliver Wendell Holmes, Jr. Andrew’s Note:  When Justice Holmes wrote that Federal taxes were less about 4% of Gross Domestic Product (GDP), in 2012 Federal Taxes now consume about 16% of GDP and we spend a great deal more than that. FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

Laffer on Government Spending – Today’s Quote

What I’m not saying is that all government spending is bad.  It’s not – far, far from it, but there is no free lunch, as a former colleague of mine used to say. There is no public tooth fairy.  Father Christmas does not work on the Treasury staff this year.  You can never bail someone out of trouble without putting someone else into trouble. Dr. Arthur B. Laffer FacebookPinterestGoogleRedditTwitterTumblrEmailPrintPocketMoreLinkedInLike this:Like...

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