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Taxes are at their lowest in 60 years!

Felix Salmon on Reuters points out that Federal taxes (all taxes, not just income) haven’t been this low in 60 years.

Also interesting is that while individual income taxes have remained about the same, corporate taxes have gone down significantly, and employment taxes (Social Security and related taxes) have gone way up. Excise taxes have also dropped. It is telling that the taxes that have gone up the most are the most regressive taxes (hit the poor more than they hit the rich). The two taxes that affect the rich the most — estate and gift taxes — have shrunk to zero.

And just a reminder. Earlier this year three quarters of Americans believed that Obama had raised taxes on them, when in fact he had lowered them.

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When you can make far more money not actually producing anything, then this becomes inevitable


© Jen Sorensen

This isn’t really all that crazy. I watched almost the same thing happen in England in the 80’s. A friend of mine who is a brilliant computer programmer was trying to get a job in England, but he could get a higher salary working in a bank. He moved to the US, but when the same thing happens here, where will you go?

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U.S. Orders Diplomats to Stop Telling Truth

[This is fake news, reprinted from Andy Borowitz]

In the first major policy fallout from the WikiLeaks disclosures, the State Department has ordered all U.S. diplomats to “cease and desist telling the truth until further notice.”

“We are working overtime to try to make sure that leaks like these don’t happen again,” Secretary of State Hillary Clinton told reporters. “But until we’ve got the leaks plugged, it’s incumbent on all our diplomats to put on their lying caps.”

Secretary Clinton noted that since many US diplomats are major political donors with long careers in the business world, “this shouldn’t be a reach for them.”

But for those career diplomats who came up through the Foreign Service, the State Department will be holding a series of “truth avoidance seminars,” led by executives of Goldman Sachs.

Additionally, Secretary Clinton said, the State Department would install on all diplomats’ computers new software called CandorShield™, which automatically translates truthful language into a less embarrassing truth-free version.

For example, she explained, the software would translate the phrase “two-faced weasels” into “trusted Pakistani allies” and would delete all references to French President Nicolas Sarkozy as “Monsieur Shorty Pants.”

Elsewhere, Interpol issued this statement about its pursuit of WikiLeaks founder Julian Assange: “We will find Julian Assange, and then we will hire him.”

In related news, WikiLeaks attempts to expose Sarah Palin’s thoughts, but finds nothing. On hearing the report, Palin asks “How’s that Wiki-Leaky thing workin out for ya?”

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Late Night Political Humor

“President Obama held a ceremony at the White House to celebrate the first night of Hanukkah. In response, Republicans said, ‘It’s even worse than we thought. He’s a Jewish Muslim.'” – Conan O’Brien

“The miracle of Hanukkah is that there was only enough oil to keep the menorah lit for one night and it lasted for eight nights. As far as religious miracles go, it’s not exactly the resurrection of the Easter bunny, but it’s fun for the kids.” – Jimmy Kimmel

“President Obama has set aside over 180 million acres of land for polar bears. When Sarah Palin heard about it, she said, ‘Todd, get my gun.'” – Conan O’Brien

“President Obama received 12 stitches in his lip after being elbowed in the mouth during a basketball game. Out of force of habit, he blamed George Bush.” – Jay Leno

“WikiLeaks is the 250,000-page document dump, which like most post-Thanksgiving dumps, is fascinating to pick through. The site should not be confused with WookieLeaks, where a large furry creature pees on you.” – Jon Stewart

“WikiLeaks’ Julian Assange said Secretary of State Hillary Clinton should resign for ordering American diplomats to spy on their foreign counterparts. Thanks, creepy Australian guy who’s wanted for rape in Sweden, we’ll make a note of that.” – Jimmy Kimmel

“WikiLeaks continues to release thousands of classified documents, but some of the leaks are just gossip. Like the one saying Iranian President Ahmadinejad was once offered a 10 pm show on NBC. I guess they were just trying to ruin his reputation.” – Jay Leno

“The head of WikiLeaks, Julian Assange, has gone into hiding. They say he’s some place all alone where no one can find him. In fact, officials believe he may be hiding in a theater showing ‘Burlesque.'” – Jay Leno

“Former President George W. Bush said he’s a huge fan of his new iPad. Or as he called it, his ‘glowing magic window.'” – Conan O’Brien

“On his book tour George W. Bush said, ‘I was a Blackberry person, and now I’m an iPad person, so I hope you buy my book in hardcover and electronically.’ So there you have it. George W. Bush doesn’t care about Blackberries.” – Jimmy Kimmel

“The government is considering raising the retirement age to 69. In other words, they want Brett Favre to play two more years.” – Conan O’Brien

“The annual ‘Christmas Village’ in Philadelphia has been renamed the ‘Holiday Village.’ In fact, they’re not Santa’s reindeer anymore . . . They’re now ‘nondenominational venison.'” – Jay Leno

“Anderson Cooper did a show this week from inside that half-mile long drug smuggling tunnel between San Diego and Mexico. It’s quite an amazing tunnel. It has lighting, ventilation, a rail car, a Starbucks…” – Jimmy Kimmel

“Sen. John McCain said it’s time for a regime change in North Korea. To which the Carrows waitress said, ‘Sir, if you don’t order now, you’re going to miss the early bird special.'” – Jay Leno

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Contradicting


© Dan Wasserman

It’s not bribery, it’s a public-private partnership!

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Figures Never Lie, but…

This week, the National Association of Manufacturers issued a statement against HR 4853 (the Middle Class Tax Relief Act), which extends the Bush tax cuts for all income under $250,000 a year. Instead, they support extending the Bush tax cuts for all income. They state:

Manufacturers strongly support extending the 2001 and 2003 tax rates for all taxpayers. According to the non-partisan Congressional Budget Office, fully extending the 2001 and 2003 tax cuts would add between 600,000 and 1.4 million jobs in 2011 and between 900,000 and 2.7 million jobs in 2012.

There’s just one problem. The CBO job numbers they quote are compared to not extending the tax cuts for anyone, not compared to the jobs created by HR 4835.

In fact, the CBO did estimate the jobs created by the compromise HR 4853, and found that it would create between 500,000 and 1.2 million jobs in 2011. So in the best possible case, extending the Bush tax cuts for all income will create an additional 200,000 jobs. At the same time, this will cost $4 Trillion over the next 10 years, and will cost $61 Billion in 2011.

So lemme see … $61 billion divided by 200,000 jobs means that even in the best case, those jobs will cost $305,000 each. Yow! I can think of far cheaper ways to create jobs. And isn’t it ironic that if you just handed $305,000 to 200,000 people, that would give them enough income to qualify for the higher tax rate.

Not only that, but the Association is cherry picking their data. Note that they only quote the job numbers for 2011 and 2012, because the CBO went on to say that job creation would sharply fall off after 2012 because of the ballooning deficit. According to PolitiFact “CBO found that the economic benefits from a permanent repeal for all taxpayers are higher in the first two years, but that policy comes with troublesome side effects after that.”

Go figure…

UPDATE: As a commenter points out, HR 4853 does give a tax cut to all Americans, rich or poor, but only on income below $250,000 a year. If someone earns $250,001 in a year, they would only pay the higher tax rate on one dollar. And even then the highest tax bracket is only 4% higher, so it would cost you 4 cents in extra tax (compared to keeping the lower tax rate for all income).

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Why won’t the Democrats use Reconciliation to pass their tax cuts?

Today, the Senate took two votes. The first was to extend the Bush tax cuts on income of less than $250,000 a year. The second vote was similar, but raised the income threshold to $1 million.

Since the Republicans say they will filibuster both bills, the votes were technically to limit debate and so under Senate rules required at least 60 votes, but the Democrats only got 53 votes.

Yes, the Republicans would not even compromise on tax breaks on income less than $1 million a year. Note that even people earning more than $1 million a year would have benefited from this, since the first $1 million of their income would have been taxed less. They are holding any tax breaks hostage unless they get their way completely, with no compromise possible.

What I don’t understand is why the Democrats cannot use the Reconciliation process to pass their compromise tax cuts. Indeed, Bush’s original tax cuts, both in 2001 and 2003, were passed using reconciliation because the Republicans did not have 60 votes. That is why they have an expiration. Reconciliation only requires a simple majority, and 53 votes would be more than enough. Of course, then the new tax cuts would have another expiration, but considering the deficit, that is probably a good thing.

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Late Night Political Humor

“Rep. Peter King says WikiLeaks presents a clear and present danger to our national security and should be branded a terrorist organization. Former Vice President Dick Cheney says we should waterboard the Internet.” – Jimmy Kimmel

“WikiLeaks shows our allies are also funding the terrorists. So we’re like the commissionless middlemen in a war we’re waging against ourselves.” – Jon Stewart

“WikiLeaks released more than 250,000 secret documents, some of which refer to computer passwords for world leaders. The most shocking revelation: Kofi Annan’s password is ‘BieberFan9.'” – Conan O’Brien

“WikiLeaks gets all the secret stuff, even the truth about Lady Gaga. Apparently there’s meat UNDER the dress too.” – Craig Ferguson

“President Obama announced a two-year pay freeze for all federal employees. This means the next time the TSA agent is reaching into your pockets, he’s looking for spare change.” – Jay Leno

“The Airport screening rule is they can only touch your breasts and groin area over clothes. Same rule my high school prom date had.” – Jay Leno

“American Airlines is going to offer happy hour on its flights in December. TSA is feeling us up. The airline is giving us free booze. We don’t even have to make Friday night plans anymore. Just book a flight.” – Jimmy Fallon

“Promoting his new book, President Bush visited the headquarters of Facebook. Unfortunately, he spent the whole visit on Farmville, clearing brush.” – Conan O’Brien

“A 19-year-old Somali man was arrested in Portland for allegedly planning to detonate a bomb at a Christmas tree lighting ceremony. His parents are devastated. He had such a promising career as a pirate.” – Jay Leno

“A Senator from Oklahoma says he won’t participate in his state’s holiday parade unless they put Christ back in the title. So get ready for this year’s ‘Christ, It’s Cold Out Parade.'” – Conan O’Brien

“Six in 10 Mexicans believe life is better in the United States. The other 4 out of the 10 already live here.” – Jay Leno

“Yesterday John McCain announced, ‘We must bring about a regime change in North Korea.’ To which the waitress replied, “Sir, if you don’t order now you’ll miss the early bird special.” – Jay Leno

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Those who do not learn from the past and doomed to repeat it

Maybe I’m just angry today, but I rather enjoyed this rant by Senator Bernie Sanders. I am in no way a socialist, but I would have trouble disagreeing with much of what he says here:

History shows us that many of the countries that went socialist or communist in the last century did so because the country had swung too far in the opposite direction and the poor and middle class became desperate, or because their economies had collapsed during the great depression. I hope that is not what is in store for us. The last time the US had such a large gap between the rich and the poor was in the 1920’s.

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Goodbye, Paypal

Paypal bans WikiLeaks just before midnight Friday. WikiLeaks claims it was the result of US government pressure. I will no longer do business with Paypal.

UPDATE: Reporters Without Borders explains why it is terribly wrong what is being done to WikiLeaks, even if you disagree with what WikiLeaks is doing.

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Ransom Note


© John Sherffius

So, when do we start calling the Republican party terrorists?

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Taxes


© Gary Varvel

A sign of the times.

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Glenn Beck gets into the Christmas Spirit by becoming Scrooge

To celebrate the fact that millions of Americans are about to lose their unemployment benefits just in time for Christmas, Glenn Beck declared that we have been sold a lie that the poor in America are suffering. In fact, Beck, the master of me me me, labeled the poor “greedy” and said “What’s poverty in America today? Well, we just want our stuff.”

Beck also claims the poverty level for a family of four is $44,100. It is actually $22,050 — he was only off by 100%.

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Late Night Political Humor

“According to the TSA, most of the people protesting the new body search procedures are men. At last they’re getting to see what it’s like to be groped by someone who won’t take no for an answer.” – Jay Leno

“Yesterday a woman wore a bikini to LAX airport hoping to avoid the patdown. She is still being patted down.” – Conan O’Brien

“I’m sure everyone is already missing their loved ones. And by loved ones, I mean the TSA guys that give you the pat-down.” – Craig Ferguson

“In a recent interview, Sarah Palin said we must stand with our North Korean allies. When she was corrected she said, ‘Listen, geometry was never my strong suit.'” – Jay Leno

“In a recent interview, Sarah Palin said we have to stand with ‘our North Korean allies.’ When told that North Korea is not our ally, Palin said, ‘Sorry, I meant East Korean allies.'” – Conan O’Brien

“WikiLeaks has released thousands of classified documents that could be detrimental to the United States. Usually, when something this embarrassing about the United States is revealed, it’s because Joe Biden said it.” – Jay Leno

“WikiLeaks is a website that gets a hold of classified information and releases it to the public. They get all kinds of top secret stuff: White House memos, government e-mails, the truth about Lady Gaga …” – Craig Ferguson

“Federal workers have had their pay frozen for two years. The worst part is that the workers found out on WikiLeaks.” – Jay Leno

“The name ‘WikiLeaks’ doesn’t sounds like espionage. It sounds like Barbara Walters interviewing Ricky Martin.” – Craig Ferguson

“President Obama was elbowed during a basketball game and had to receive 12 stitches. Obama said it was almost as embarrassing as the time he was dunked on by Barney Frank.” – Conan O’Brien

“President Obama needed 12 stitches after taking an elbow to the mouth during a basketball game, but he learned a valuable lesson: Don’t get in the way of Hillary’s tomahawk jab.” – Craig Ferguson

“President Obama took an elbow to the face last week and had to get 12 stitches. He was in line at Best Buy trying to get a $49 Blu-ray player.” – Jimmy Kimmel

“Black Friday shopping can get very rough. You would think his ears would protect him from flying elbows.” – Jimmy Kimmel

“Monday was a big online shopping day called ‘Cyber Monday.’ Immediately followed by ‘Identity Theft Tuesday.'” – Conan O’Brien

“Michelle Obama is hoping to put salad bars in 5,000 school cafeterias. They expect as many as 3 students to use them.” – Jay Leno

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Bipartisanship, part 2


© Tom Toles

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