Friday, January 27, 2012

Taxes

It is beyond sad when the (ever so eloquentleader of the free world (in between stuttering, stammering, and mumbling) invokes class warfare and attempts to divide the constituency he claims to represent by purporting all of our problems would be solved by higher tax rates.  Assuming the world would be a better place if only the federal government had more power and more tax dollars from the 53% of Americans currently paying income taxes is na├»ve to the extent of utter foolishness.  It is true that much of the 47% (not paying income taxes) do pay into programs such as OASDI, RSDI, FICA / SECA, MediCARE, and MedicAID; commonly and incorrectly referred to as "payroll tax".  However, the payroll tax is not a tax at all, despite what your increasingly tyrannical government claims.  The following programs, that constitute the "payroll tax" are either insurance, savings, or retirement/pension programs.  Therefore one does not pay "taxes"; one would pay premiums, make deposits, or contributions respectively.


- OASDI - Old-Age, Survivors, and Disability Insurance

- RSDI - Retirement, Survivors, and Disability Insurance

- FICA -  Federal Insurance Contributions Act

- SECA - Self Employment Contributions Act

- MediCARE - health insurance for the people 65 or older, people under 65 with certain disabilities, people with end-stage renal disease.

- MedicAID - health insurance for lower-income people, families and children, the elderly, and people with disabilities.


After all this social engineering and central planning is sorted out, one might inquire who bears the burden of federal taxes.  From the Daily Capitalist / National Taxpayers Union:


If anyone wishes to pay more in taxes, they can do so voluntarily.  One should brace themselves for the hilarity of the Teleprompter in Chief to resume claiming (lying) he has cut taxes.

Tuesday, January 24, 2012

Rand Paul and Constitutional Conservatism

Senator Rand Paul was recently detained by the TSA (yes, the same TSA that has yet to accomplish anything substantial) for refusing to forfeit his fourth amendment rights.  Supposedly there was a body scanner "anomaly", however the only anomaly is that a member of Congress is actually trying to uphold an oath to "support and defend the Constitution of the United States".

Senator Paul also recently returned five-hundred thousand dollars from his office budget to the Treasury which leads one to believe he was very serious about his budget proposal to cut five-hundred billion dollars in government waste/spending.  This is in strong contrast to the wasteful spending seen under Nancy Pelosi's tenure as Speaker, and the current administration's disastrous and frivolous spending in the name of "recovery".

Tuesday, January 3, 2012

Doves and Hawks

With the Republican presidential candidates failing to prioritize strengthening the constitution and supporting term limits, and a Democrat party that refuses to acknowledge or respect the supreme law of the United States; one can only HOPE our central bankers will protect the integrity of our currency - but hope is as hollow as fear.

From ZeroHedge:

"the composition of the FOMC voting members changes drastically as of January 1, with Hawks Fisher, Kocherlakota and Plosser now out of the voting rotation, and replacing them will be the gaggle of ferocious doves Pianalto, Lockhart and Williams. In fact the only hawk left in the Fed as of today through the end of the year is Richmond Fed's Jeffrey Lacker who has shown substantial dovishness in the past. In other words, from a rotation of 7 and 3, the Fed is now uber-dovish by a 9 to 1 majority. So does this mean that printing is imminent? Stay tuned and find out in 3 short weeks: the January FOMC statement comes out on January 25. The only good news: Charles "the fire hydrant" Evans is finally out."