Federal Income Taces

Before you bitch too much about someone else’s taxes complete this calculation. Divide the dollars you paid in Federal Income Tax by the gross income you had. That is the percent you paid in federal income tax. If you are less than 15% you have nothing to bitch about! If you gave less to charity then the tax you paid to the Fed you have absolutely nothing to bitch about. It is your life style that is the problem and not the amount of money you make.

Today’s Stock Market is telling 12/20/2011

I make a living by investing in funds inside my IRA. Spending more than 30 years in figuring out how markets will react to economic changes is how to maintain higher than average gains. Today’s market was affected by the lack of bad news from Europe and (my analysis) the loosening of the DC Democrats control of Wall Street. This all started with the TEA Party win in 2010. It took time for a minority group in the House to get the attention of the Leadership to finally force the Senate to pay attention and produce a bill. Now the House and Senate need to go into committee and reconcile the two into one. Oh guess what, the Senate went home to circumvent the constitution and get there bill to pass the House and send it to the President for signature. This way the Keystone XL pipeline will not be approved by the President’s signature. So far the House is holding firm and is following the Constitution.
Now back to today’s stock market. The super gains were caused by domestic reasons. The Far East, Europe, Housing, or profits had a big jump that would cause such gains. Since the markets react to virtually any good or bad news almost immediately, it must be something that happened today. The House said it would vote to go to committee last night but did not do it until today. Stating the intention to vote last night raised the early futures when the foreign markets were mixed and after the vote the domestic markets continued to gain. If tomorrow the House goes to committee and then decides they need to pass the Senate bill, then I predict a substantial fall in the major averages. If they continue to meet until the Senators show then there is a fighting chance to have a yearend rally.
The other major occurrence on Wall Street that is finally taking affect is the sale of the NYSE to the Germans. This has affected the number and wages of the employees that work there. Costs have been out of control on Wall Street for years. Finally, some of the costs are coming under stronger controls. To complete the transition will take years but at least there is a good start.
So watch what happens for the rest of the year!

New Political Rant 12/20/2011

I could not stand to listen to all of idiot President Obama today. Those Republicans that are running for office and vote for the 2 month extension of Payroll tax cut bill will find themselves replaced by non RINO’s early next year. Only NYC and DC have the attitude that the TEA Party is radical at it roots. TEA is Taxed Enough Already! This definition that all the TEA Party is racist, anti Gay, Bible thumping radicals is being promoted by the same people that that gave us “You must pass the bill to see what is in it” (Nancy Pelosi on Obama Care) and “I do not waste my time reading it, I have people to do that” (Max Baucus the Author of Obama Care). So who did write Obama Care? That is for another posting.
So with this tactic used by the Democrats, what are the differences between the two bills? The House bill says if the Senate passes it and the President signs it, the pipeline will be permitted for construction. The 2 month Senate bill says that the President has 60 days to decide on the pipeline issue. Big difference! This pipeline has been studied for 3 full years by the ecologist with every true scientific question answered. As a last resort, the radical ecologist mixed the affects of flooding and concerns of polluting an aquifer together to say a breakage of the pipeline would cause the poisoning of well water. Wonder is or asphalt roads do the same? Notice to all in DC – We are watching and are now aware of your tricks. Anyone that approves such bills as the Senate trick is a Demarcate or a RINO. Both need to go.

The Big Three

US auto sale for November came out on Monday. The entire big three gained market share. This is important because it is the first time that this has happened since 1983. The press has stated that the reason is the other car makers have lower production rates and less availability of product because of the floods in the Far East. I say it is because the quality of product from the big three is better than their counterparts. Congratulations to all. Keep up the great work.

Simple Choice on the Payroll Tax Issue

We have a simple choice on the Payroll Tax issue. If it is important to continue it for one more year then the choices are between having giving a bunch of people jobs or pull money away from the job creators to put money into the General Fund. The payroll taxes go into the Social Security Trust Fund to pay for Social Security and the General Fund pays for most of the other functions of the Federal Government. So raising taxes on the “Rich” in this way does not pay for the Tax cut. This is like having two accounts that one is used for payments and the other is for deposits. It is not long before the payment account is overdrawn. Since the Democratic proposals do not replace the funds for Social Security, the only viable choice here is to create more jobs so eventually the Trust Fund will receive more money. Have the Democrats stop this bill and see if the Unions still support them. Maybe Hoffa is still drunk enough to do so.

What a Shock

A little understanding of how the Supper Committee worked. I have to put this in the light of what I have experienced personally. Before the committee can be understood I needed to go back to the dept negotiations earlier this year to see where the members of the committee are coming from. The members of the committee were picked to make sure the two side’s point of view was well represented. Not a surprise when the 2010 election is considered.
Ok, I have to make this simple so I can understand this. So driving by a used car dealership in Helena, I see a car that would be great to have. Stopping in to see what the asking price is I find it to be reasonable at $4,000.00. Through negotiation we agree that I will put $800.00 down and finance the rest at a very reasonable rate. Soon the paperwork is put in from of me and to my surprise the sown payment is not $1,200.00. Nothing else has changed. The only explanation from the dealer is “I need more”. What would I do in this negotiation? Just walk away.
This is exactly what happened in the negotiations between Obama (used car dealer) and Boehner (trying to buy the car) in the debt (Chinese) ceiling negotiations. If Boehner had accepted a 50% raise in Taxes (the down payment) over what had already been agreed upon, he would have been out of the leadership immediately. Having a poor deal is much worse than no deal at all.
Now let’s go to this most recent mess. Let us look at who was picked for this so called Super Committee. Each leader picked three, Boehner, Pelosi, Reid and McConnell. Considering how far apart these four leaders are in how to fix the problem, why is anyone shocked at the failure?
More of the crooks have to go before this problem can be fixed. The advertisements of granny being pushed over the ledge are what we will see for the next 12 months. It amazes me that these idiots in DC think all of us are that dumb. Considering that the cost of administrating these programs is currently $0.70 per dollar paid into the program, there are major cuts in costs that must be done before any taxes are raised. Notice to DC: WE ARE WATCHING YOU!

Democrats are nuts!

Just been announced that Democrats want to raise corporate taxes! What part of the word “NO” do you not understand? Was reported early this morning, on CNBC, that the only housing market that consistently grows is DC. When a government town is growing and the rest of the country is not government is costing too much. Cut the cost of administrating all of these programs first. Then cut the programs back to what congress allows them to do. Then you can look at the amount that is sent to recipients. You waist trillions of the publics dollars. Get more efficient or we will find others that will.

Obama should be educated this time

Have you heard this line before? Raise now and we will cut later. Do the Democrats think we are that stupid? The cuts come first! Period! End of discussion.

There is an old saying: Screw me once – Shame on you. Screw me twice – Shame on me. The CR was once Obama!

Show me the ledger

After the Federal Government nearly closed (too bad it was left open) it is time to criticize the common citizen so DC and NYC can remain blameless. One question: What was the cost of keeping the income taxes the same as they had been for the 10 years prior years? Answer: A great big zero. Obama did lower the “Payroll Tax” (poor name for half of Social Security payments) by 2% to 5% but left the company “half” alone at slightly above 7%. If you don’t believe me then do a payroll from the very beginning to paying all the money to different governments so you stay out of jail.
So why the above rant? I have not heard anyone in the press of any strip that goes after Obama for raising allowable expenditures by $400 billion in February, 2011. He said it was to cover the extra costs of keeping the rich man’s tax cuts. Was he expecting a raise in his White House allowance without a funding bill going through the House of Representatives? Seems that Obama did exactly that. So how is $38.5 billion reduction such a burden his allowance when he got $400 billion just a few weeks earlier? I give the TEA party an A++++ for making all in DC uncomfortable. Keep up the good work!

Harry Reid the Idiot

Are you kidding Harry? All American women depend on you and your ilk for healthcare! It is much cheaper and less embarrassing to go to Wal-Mart and get the work done in there clinic. You now win the idiot award for putting the caught crooks in Family Planning Offices over the American woman. This group was caught last year breaking the law and you decided it was not enough of a infraction to stop federal funding. You are wrong!