Ubber Rich Buffett Again Asks To Pay More Taxes


The last time I looked at the tax code I did not see the clause that PREVENTS anyone from giving more than they owe in taxes. If Warren is so adament about paying more in taxes all he has to do is WRITE THE CHECK. Heck I will even let him pay mine if he wants to pay more taxes. HEY WARREN just shut up and write the check. 90% of your wealth should cover a small portion of the National Debt. Of course than you will end up with only 10% which Obama will be sure to tax at 95% next year.

Related articles

I’m sick of Warren Buffett – Tea Party Nation (gds44.wordpress.com)
Warren Buffett calls for higher taxes for US super rich (guardian.co.uk)
Is Anyone Else Getting Tired Of Warren Buffet? (davidnordmark.com)
Hey, Warren Buffett, Put Up Or Shut Up… (virginiavirtucon.wordpress.com)
Warren Buffett’s Fiscal Innumeracy – Forbes (news.google.com)

Cutting Through the Clutter: The Facts About Spending Cuts and Debt


Take a moment to watch the video and be sure to read the entire article. This is information that should be on the mainstream media outlets during this time of debate over the debt limit and government spending. All we seem to hear is that REVENUES must be increased in order to lower the debt. Those on the right say that if you cut government spending and thus reduce the size of the federal government, not only with gov revenues rise but so will the economy of the United States.

You decide which is true after you read this report.

Amplify’d from reason.com

Raising the debt limit might put off a downgrade disaster in
August, but that still isn’t enough—as
Standard & Poor’s recent warning
made clear. Perhaps the
most important shot not heard around the world was S&P’s
other admonition: Namely, that the U.S. bond rating will
be downgraded in three months, if not sooner, unless we do
something about government spending. Beyond raising the debt limit,
S&P laid out clear criteria for avoiding a downgrade: 1) reduce
the debt by about $4 trillion; 2) agree to a credible plan within
three months; and 3) guarantee that this newfound fiscal discipline
will actually stick.

If S&P isn’t bluffing, then lawmakers should get serious
about reducing the debt-to-GDP ratio, and they should do it
quickly. But how do we achieve such a task?

Myth 1: You cannot reduce the deficit to an
appropriate level without also raising taxes.

Fact 1: Spending cuts are the most
effective way to reduce the debt-to-GDP ratio.

We are not the first nation to struggle with a dangerous
debt-to-GDP ratio, and thankfully, the academic world has already
produced great insights into what can be done to reduce this ratio
without hurting the economy.

Take the work of Harvard’s
Alberto Alesina and Silvia Ardagna
. They examined 107 efforts
to reduce the debt in 21 OECD nations between 1970–2007. Their
findings suggest that tax cuts are more expansionary than spending
increases in the cases of a fiscal stimulus. Also, they found that
spending cuts are a more effective way to reduce the debt-to-GDP
ratio:

As you can see in this chart, in cases of successful fiscal
adjustments—defined by the cumulative reduction in debt-to-GDP
ratio three years after fiscal adjustment greater than 4.5
percentage points—spending as a share of GDP fell by about 2
percentage points while revenue also fell by half a percentage
point (left bars). On the other hand, unsuccessful fiscal
adjustment packages—cumulative increases in debt-to-GDP ratio—were
made of smaller spending reductions (only 0.8 percentage-point
reduction) and large revenue increases (right bars).

The IMF found
similar results
and reports that fiscal adjustment on the
requisite scale of what we need today is actually not
unprecedented:

During the past three decades, there were 14 episodes in
advanced economies and 26 in emerging economies when individual
countries adjusted their structural primary balance by more than 7
percentage points of GDP. Several economies were also able to
sustain large primary surpluses for five or more years afterwards,
though the record is more mixed in this regard.

Read more at reason.com

 

Straining at Gnats Only to Swallow Camels


You blind guides, filtering out a gnat and gulping down a camel! Matthew 23:24 (AMP)

While congress squabbles over nickels and dimes the federal government hemorrhages billions of dollars a day. While we are forced to endure yet another debt-ceiling proposal the majority of the federal government continues to operate on auto-pilot. Federal programs continue to implement new regulations in the order of thousands a year. Thousands of pages of new federal guidelines continue to spew out of the multitude of bureaus and departments in the bowels of the federal government. As we are reduced to swatting at gnats by arguing over nickels and dimes in discretionary spending the federal entitlement programs continue to balloon out of control.

With deficits running over a trillion dollars, the latest budget cut proposals are ridiculous. Congress boasts about killing gnats while the American people are forced to swallow one federal camel after another.

Why should the American people continue to pony up for reckless federal spending? We have no say in how this money is spent, who is hired or fired, whether anyone should get a raise or not, which projects should or should not be funded but every year the federal government gets bigger and spends more money then the year before and "we the people" have to dig deeper to pay for it all. When we do say "no" we are called extremists or racists or other derogatory terms.

I for one have lost all patience and tolerance for politicians who continue to tell me that there is nowhere in the federal government they can cut. They have no problem cutting my pay by taking more of my hard-earned money through taxation or regulation. We the people have to keep doing without so that the federal government can continue to run full-speed ahead with all systems go. Does that make sense to anyone?

The American economy is being squeezed to death and the golden goose is being smothered by this huge leviathan of a federal government, and yet one politician after another spouts off that a measly 1-2% decrease in Federal spending is draconian. Give me a break! Until 20% of the federal work force is laid off and collecting unemployment like the rest of America there is plenty that can be cut from the fed’s coffers.

Start with a 20% reduction in all departments across the board. Eliminate the EPA, HHS, HLS, all the unconfirmed Tsars, and make public sector unions illegal. After you have done all that then come back to me and tell me there is nothing left to cut and I am sure by then I will come up with even more ideas and places you can cut before you ask me for one thin dime more. I have had enough of this spend-thrift congress!

At a time like this we need men of character and courage not men of cowardice and compromise. We need men like Milton Friedman , Adam Smith, William Bennett, Barry Goldwater and yes I am going to say it Ronald Reagan . As I close this rant let me leave you with the words of President Reagan:

"We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much."

"To sit back hoping that someday, someway, someone will make things right is to go on feeding the crocodile, hoping he will eat you last – but eat you he will."

"Government is not a solution to our problem government is the problem."

"Government is like a baby: an alimentary canal with a big appetite at one end and no sense of responsibility at the other."

"No government ever voluntarily reduces itself in size. Government programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we’ll ever see on this earth!"

Thank you Mr. Reagan, to which I add Amen.

There I said it and I mean it. What say you?

Just another "View from the Nest".

Pete Stark says Debt Limit Debate is a “political charade”


Pete Stark​ (D-CA) told an audience Saturday morning that the Debt Limit debate is a ‘’political charade’.

I agree. Hold their feet to the fire. Force a vote on “Cut cap and balance”. Push the Senate to pass the Ryan 2012 budget plan.

This is the only sensible, workable solution to the current fiscal crisis.

Spend, Tax, Raise Debt Limit, Repeat


The Obama balanced approach means, he spends and we pay.