Posts Tagged ‘Taxes’

Let’s All Watch Illinois Implode

January 12, 2011

So, Illinois just approved a 66% income tax increase during a depression. Let’s all watch as revenues decline over the next few years and taxPAYERS move away.

The average person just doesn’t get it, the government can tax us all at 100% and they will still spend 105% (Mark Levin)

Yeah yeah, I know there’s a 2% spending increase trigger in the law but I’m betting it will take less than two years for a new law to nullify that provision. The tax-lovers have their foot in the door.

READ MORE: Illinois Lawmakers Approve 66% Tax Hike

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More Law Enforcement For Profit…

November 13, 2009

From Detroit (but it’s pretty much the same everywhere)-

Police property seizures ensnare even the innocent

“Local law enforcement agencies are raising millions of dollars by seizing private property suspected in crimes, but often without charges being filed — and sometimes even when authorities admit no offense was committed.”

The Article: Police property seizures ensnare even the innocent

Geithner gone in 3… 2… 1…

March 5, 2009

Uh oh! Looks like democrat tax-cheat Geithner is gonna be the first Obama scape-goat…  (my prediction)

Newsflash: Wonderboy Treasury Secretary is in over his head

(H/T Michelle Malkin)

A Letter From The Boss…

January 21, 2009

Whether it’s real or not doesn’t matter, the message is still dead on-

A Boss Who Tells it Like it Is …

To All My Valued Employees,

There have been some rumblings around the office about the future of this company, and more specifically, your job. As you know, the economy has changed for the worse and presents many challenges. However, the good news is this: The economy doesn’t pose a threat to your job. What does threaten your job however, is the changing political landscape in this country. However, let me tell you some little tidbits of fact which might help you decide what is in your best interests.

First, while it is easy to spew rhetoric that casts employers against employees, you have to understand that for every business owner there is a back story. This back story is often neglected and overshadowed by what you see and hear. Sure, you see me park my Mercedes outside. You’ve seen my big home at last years Christmas party. I’m sure; all these flashy icons of luxury conjure up some idealized thoughts about my life.

However, what you don’t see is the back story.

I started this company 28 years ago. At that time, I lived in a 300 square foot studio apartment for 3 years. My entire living apartment was converted into an office so I could put forth 100% effort into building acompany, which by the way, would eventually employ you.

My diet consisted of Ramen Pride noodles because every dollar I spent went back into this company. I drove a rusty Toyota Corolla with a defective transmission. I didn’t have time to date. Often times, I stayed home on weekends, while my friends went out drinking and partying. In fact, I was married to my business – hard work, discipline, and sacrifice.

Meanwhile, my friends got jobs. They worked 40 hours a week and made a modest $50K a year and spent every dime they earned. They drove flashy cars and lived in expensive homes and wore fancy designer clothes. Instead of hitting the Nordstrom’s for the latest hot fashion item, I was trolling through the discount store extracting any clothing item that didn’t look like it was birthed in the 70’s. My friends refinanced their mortgages and lived a life of luxury. I, however, did not. I put my time, my money, and my life into a business with a vision that eventually, some day, I too, will be able to afford these luxuries my friends supposedly had.

So, while you physically arrive at the office at 9am, mentally check in at about noon, and then leave at 5pm, I don’t. There is no “off” button for me. When you leave the office, you are done and you have a weekend all to yourself. I unfortunately do not have the freedom. I eat, and breathe this company every minute of the day. There is no rest. There is no weekend. There is no happy hour. Every day this business is attached to my hip like a 1 year old special-needs child. You, of course, only see the fruits of that garden – the nice house, the Mercedes, the vacations … you never realize the back story and the sacrifices I’ve made.

Now, the economy is falling apart and I, the guy that made all the right decisions and saved his money, have to bail-out all the people who didn’t. The people that overspent their paychecks suddenly feel entitled to the same luxuries that I earned and sacrificed a decade of my life for.

Yes, business ownership has is benefits but the price I’ve paid is steep and not without wounds.

Unfortunately, the cost of running this business, and employing you, is starting to eclipse the threshold of marginal benefit and let me tell you why:

I am being taxed to death and the government thinks I don’t pay enough. I have state taxes. Federal taxes. Property taxes. Sales and use taxes. Payroll taxes. Workers compensation taxes. Unemployment taxes. Taxes on taxes. I have to hire a tax man to manage all these taxes and then guess what? I have to pay taxes for employing him. Government mandates and regulations and all the accounting that goes with it, now occupy most of my time. On Oct 15th, I wrote a check to the US Treasury for $288,000 for quarterly taxes. You know what my “stimulus” check was? Zero. Nada. Zilch.

The question I have is this: Who is stimulating the economy? Me, the guy who has provided 14 people good paying jobs and serves over 2,200,000 people per year with a flourishing business? Or, the single mother sitting at home pregnant with her fourth child waiting for her next welfare check? Obviously, government feels the latter is the economic stimulus of this country.

The fact is, if I deducted (Read: Stole) 50% of your paycheck you’d quit and you wouldn’t work here. I mean, why should you? That’s nuts. Who wants to get rewarded only 50% of their hard work? Well, I agree which is why your job is in jeopardy.

Here is what many of you don’t understand .. to stimulate the economy you need to stimulate what runs the economy. Had suddenly government mandated to me that I didn’t need to pay taxes, guess what? Instead of depositing that $288,000 into the Washington black-hole, I would have spent it, hired more employees, and generated substantial economic growth. My employees would have enjoyed the wealth of that tax cut in the form of promotions and better salaries. But you can forget it now.

When you have a comatose man on the verge of death, you don’t defibrillate and shock his thumb thinking that will bring him back to life, do you? Or, do you defibrillate his heart? Business is at the heart of America and always has been. To restart it, you must stimulate it, not kill it.

Suddenly, the power brokers in Washington believe the poor of America are the essential drivers of the American economic engine. Nothing could be further from the truth and this is the type of change you can keep.

So where am I going with all this? It’s quite simple.

If any new taxes are levied on me, or my company, my reaction will be swift and simple. I fire you. I fire your co-workers. You can then plead with the government to pay for your mortgage, your SUV, and your child’s future. Frankly, it isn’t my problem any more.

Then, I will close this company down, move to another country, and retire. You see, I’m done. I’m done with a country that penalizes the productive and gives to the unproductive. My motivation to work and to provide jobs will be destroyed, and with it, will be my citizenship.

So, if you lose your job, it won’t be at the hands of the economy; it will be at the hands of a political hurricane that swept through this country, steamrolled the constitution, and will have changed its landscape forever. If that happens, you can find me sitting on a beach, retired, and with no employees to worry about …

Signed,
Your boss

Bob Lang’s “Buy Bread Now”

January 16, 2009

Why the Mortgage Crisis Happened

January 16, 2009

The best analysis of why the melt-down happened-

“The narrative is of another socialist experiment failed, this time a massive federal effort, imperiling the whole US banking industry. Facing this economic disaster, will an informed American people put their trust Obama’s socialist ideology to bring remedy? To do so is to trust in an acetylene torch to put out the fire.”


THE ARTICLE: Why the Mortgage Crisis Happened

Altas is Shrugging

January 14, 2009

Many of us who know Rand’s work have noticed that with each passing week, and with each successive bailout plan and economic-stimulus scheme out of Washington, our current politicians are committing the very acts of economic lunacy that “Atlas Shrugged” parodied in 1957, when this 1,000-page novel was first published and became an instant hit.

The current economic strategy is right out of “Atlas Shrugged”: The more incompetent you are in business, the more handouts the politicians will bestow on you. That’s the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies — while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to “calm the markets,” another trillion of national wealth is subsequently lost. Yet, as “Atlas” grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate “windfalls.”

THE ARTICLE: ‘Atlas Shrugged’: From Fiction to Fact in 52 Years

Stock Market Drops On News Of Obama Win

November 6, 2008

"I'm for the middle-class."

The stock market plunged about 22% today after the election of Obama. I would guess that people are realizing that he’s going to raise the capital gains tax.

This is/will decimating middle-class retirements. Why? Because the middle class’ retirements are almost entirely in the stock market whereas the ‘rich’ can afford to spread their money into other things like real estate and not entirely into the stock market.

Get ready, it’s already starting.

Obama Is Going To Tax The Middle Class!

October 29, 2008

Obama has said that he’s only going to tax the ‘rich’ and will cut middle class taxes… BS! The ‘rich’ income is already coming down into middle class levels…

Rich =$250K… No, rich = $200K… No rich = $150K…

Demoncrats have NEVER lowered taxes on the middle class and they never will (in the foreseeable future).

The Myth Of Taxing The Rich.

October 16, 2008

Demoncrats LOVE to “Tax the Rich” which is odd because the Demoncrats in power usually ARE “the rich”. I have never heard of the Clintons, Pelosi, Reid, Rangel or any of them giving up tax exemptions and shelters so the the poor can have more but they LOVE TO TAX THE RICH!

The scam is that tax increases do not really affect the rich as much as they affect the middle-class. The reason- ‘the rich’ have more disposable income and can afford to ‘hide’ that money in deductions and tax shelters whereas the middle-class usually don’t have enough disposable money and ends up with only one tax-shelter, his/her house.

If you compare theoretical tax rates & actual tax rates vs ‘money coming in’, you’ll see that the middle-class bears the brunt (rate-wise) of this “tax the rich” system. See below-

So, when you hear Obama (or any other politician) saying that they are ‘only going to tax the rich’, they are lying to your face and you’re gonna get the shaft (while they max out their tax-deductions and shelters).

Warren Buffett even agrees- ” Warren Buffett, the third-richest man in the world, has criticized the US tax system for allowing him to pay a lower rate than his secretary and his cleaner.”