- Comrade Terry on “Coburn: Constituents linking IRS audits to Mitt Romney donations”
- jacksonsdad on Freaky Friday Caption Contest
- R.D. Walker on Get Some!
- R.D. Walker on Colored rubbing alcohol sold as top shelf scotch
- notamobster on NBC: “Holder OK’d search warrant for Fox News reporter’s private emails, official says”
- notamobster on Freaky Friday Caption Contest
- notamobster on Get Some!
- notamobster on Colored rubbing alcohol sold as top shelf scotch
- Van-a-gram on NBC: “Holder OK’d search warrant for Fox News reporter’s private emails, official says”
- Van-a-gram on Freaky Friday Caption Contest
- DarthJay on Jon Stewart on the IRS debacle
- R.D. Walker on NBC: “Holder OK’d search warrant for Fox News reporter’s private emails, official says”
- jacksonsdad on It’s just like Nixon…
- R.D. Walker on DA Refuses To Prosecute NY Man Who Had Nine Rounds In His Gun
- Frank in Texas on NBC: “Holder OK’d search warrant for Fox News reporter’s private emails, official says”
- Frank in Texas on DA Refuses To Prosecute NY Man Who Had Nine Rounds In His Gun
- Flatearther on Obama still wants to close Gitmo
- R.D. Walker on Obama wants to repeal the war on terror…
- BrunDawg on Lois “I did nothing wrong” Lerner signed the letters
- Jim22 on Off Topic
- R.D. Walker on “Coburn: Constituents linking IRS audits to Mitt Romney donations”
- Flatearther on It’s just like Nixon…
- Flatearther on DA Refuses To Prosecute NY Man Who Had Nine Rounds In His Gun
- R.D. Walker on Obama wants to repeal the war on terror…
- R.D. Walker on Peggy Noonan sums up the horror…
- DarthJay on NBC: “Holder OK’d search warrant for Fox News reporter’s private emails, official says”
- R.D. Walker on Obama wants to repeal the war on terror…
- DarthJay on Obama wants to repeal the war on terror…
- DarthJay on Lois “I did nothing wrong” Lerner signed the letters
- DarthJay on Freaky Friday Caption Contest
- John Cox on Freaky Friday Caption Contest
- BrunDawg on Peggy Noonan sums up the horror…
- reboot on Obama wants to repeal the war on terror…
- Matt on Lois “I did nothing wrong” Lerner signed the letters
- James on Freaky Friday Caption Contest
Top Revo Writers
Category Archives: Economy
Obama ignored the first court ruling and the invalid appointees remain seated. Now there is a second ruling affirming the first.
A national labor board which has long been accused of making union-friendly decisions was dealt another blow Thursday, after a second federal appeals court found President Obama exceeded his power when he bypassed the Senate to appoint its members.
The ruling by the 3rd U.S. Circuit Court of Appeals in Philadelphia once again threatened to upend the National Labor Relations Board’s decisions. And it has the potential to stall the board entirely, as well as challenge other federal agencies that have similar appointees.
For now, the Obama administration has tried to disregard the court decisions — it has already appealed a similar ruling, from a Court of Appeals in Washington, D.C., to the Supreme Court.
The IRS will require the name and health insurance identification number of the taxpayer, the name and tax identification number of the health insurance company, the number of months the taxpayer was covered by this insurance plan and whether the plan was purchased in one of ObamaCare’s “exchanges.”
Heavy fines will be levied for failure to jump through all the government’s hoops.
The new tax mandates and penalties in ObamaCare will require up to 16,500 new IRS personnel to collect, examine and audit new tax information mandated on families and small businesses, according to an analysis by the Joint Economic Committee and the then-minority GOP staff of the House Ways & Means Committee in 2010.
I am sure we have nothing to worry about. The IRS would never be used to harass citizens, right?Share
Internal cost estimates from 17 of the nation’s largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration’s goal of affordability.
New regulations, policies, taxes, fees and mandates are the reason for the unexpected “rate shock,” according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.
Sadly, Americans have no idea of the economic destruction Obamacare has already caused.
Small businesses will soon be unable to provide any health insurance – even the terrible high-deductible plans about which people used to complain. Would-be-entrepreneurs by the thousands will continue to stay at jobs they hate rather than start businesses that could succeed.
Obamacare is an anchor around the neck of our economy. It isn’t going to get better.Share
They don’t call it communism this time, however. This time they call it the “universal basic income” (UBI).
UBI would create greater equality by ending poverty and providing a minimum living standard. It would also increase bargaining power for workers, who could demand better working conditions with a safety cushion. As Erik Olin Wright argues in Envisioning Real Utopias, such bargaining power “will generate an incentive structure for employers to seek technical and organizational innovations that eliminate unpleasant work,” which would “have not just a labor-saving bias, but a labor-humanizing bias.”
What’s the plan? Basically that every American gets a paycheck from the government. Later in the article they suggest $10,000 per year so a family of four gets $40,000 a year just for drawing breath. This they, claim, would end poverty.
Evidently they believe that the creation of the currency to do this wouldn’t be inflationary. They believe that trillions of dollars in new, non productive cash wouldn’t in inflationary. Evidently they believe that prices would be stable in a world in which the quantity and velocity of cash has increased radically.
Evidently they believe that the skyrocketing cost of labor that they tout wouldn’t drive up the cost of goods and services.
Evidently that only thing that keeps people in poverty is an unwillingness of the federal government to pass laws that outlaw scarcity. If only the right laws were passed, wealth would be created, scarcity would disappear and we would have utopia.
This is the Jesse Jackson Jr. school of economic thought.
Think I am kidding? Nope. “Giving people money. It is that easy.”Share
A task force of elected officials on Friday recommended tearing down the elementary school where 20 first-graders and six educators were shot dead in December and rebuilding on the site.
The group of 28 Newtown elected officials voted unanimously in favor of a plan that would construct a new building on the property where the existing Sandy Hook Elementary School is located. The proposal now goes to the local school board and then before voters as a referendum.
A study found building a new school on the existing site would cost $57 million.
Let’s look at the Liberal logic in this:
Something very bad happened, so now they are going to double down?
What kind of lesson is this for kids, to solve problems by smashing stuff when life doesn’t go your way?
What’s wrong with new paint, a modest remodel, and a memorial monument off site?
Plenty. It would be cost effective.
This is what elected politicians do with other people’s money.
Chuck Grassley says Max Baucus is, in leaving the Senate, abandoning a sinking ship.
Cedar Rapids, Iowa — Democratic senator Max Baucus is retiring because he is “fed up” with the Affordable Care Act, according to his Republican colleague Chuck Grassley. Speaking at Friday night’s Lincoln Day dinner in Iowa, Grassley told the audience the Montana senator is leaving office ”because he’s so fed up with the possibility of the implementation of Obamacare being a train wreck.”
Baucus, the chairman of the Senate Finance Committee, played a key role in writing the 2010 law.
Grassley said that dissatisfaction with the health-care bill exists across party lines, describing a “bipartisan coalition in Washington” that considers the implementation of the law a disaster. “It’s a shame that a trainwreck even left the station a couple years ago,” he added, referring to Baucus’s now-infamous statement of frustration.
Baucus, as much as anyone, is responsible for the nightmare that is Obamacare. Pulling a Bart Stupak and running away will not absolve him of that responsibility. Now that the damage is done, Baucus will retire with a nice fat pension, paid by the the same taxpayers he helped to shaft. Americans shouldn’t forget that.
2014 is going to be bad for the Democratic Party because it is going to be very bad for America.Share
The college system in the United States largely failing students and taxpayers. College tuition continues to skyrocket even as federal subsidies rise. Over the last 25 years, college tuition and fees rose more than 400 percent or more than four times the rate of inflation. Average student loan debt exceeds $25,000 and total student loan debt exceeds $1 trillion. Fewer than 60 percent of college students finish college in six years or less. Half of college graduates today are unemployed or underemployed.
Elizabeth Warren has a solution: Make money easier. Give out more loans to more students. Give colleges the means to raise rates further and, thus, drive up tuition costs and default rates. Saddle young people with billions of dollars in new debt. In other words, the horse just needs more turpentine.
Naturally, the Eccon-Muggles at the Daily Kos love it.
Would love to see this pass! will sign petitions, make calls to support.
Excellent idea, and a great way to show, once again, Republicans don’t care about any Americans who aren’t rich.
Can you say Biden-Warren 2016?
Elizabeth hits it out of the ballpark again. She is probably the best new Senator ever.
his is such delicious framing that everyone can understand. And on an issue that is crying out for attention. Leave it to a lifelong teacher to nail it.
Of course none of the geniuses who love this remember what easy money, low interest rates and treasury backed mortgages did to the economy a few years ago. Why must we make the same damned stupid mistakes over and over again? Why?Share
Dirty little secret: Unemployment is falling because people are just giving up on full time work.
Nonfarm payrolls remain 2.6 million short of the prior peak reached in January 2008. What’s more, roughly 22 million people are effectively unemployed because they’re actually not working, underemployed, or forced to work only part time.
And partly because people are dropping out of the labor force, or collecting government benefits instead of working, the employment-to-population ratio, which peaked at 64.6 percent in April 2000, has dropped to 56.8 percent in the latest month. That translates to a loss of roughly 10 million jobs from the long-term trend line. It’s a huge waste of human capital and talent, as well as economic growth.
What’s more, the anemic 2.1 percent real GDP recovery of the last 15 quarters (compare that with the 4.4 percent post-WWII average) has thus far created an output gap of roughly $3 trillion, according to RDQ economist John Ryding. This country will need to grow at more than 5 percent yearly for more than a decade if that economic gap is to be closed.
Or think of this: From 1950 through 2007, the long-term historical U.S. economic growth rate was 3.25 percent yearly after inflation. Today we are a staggering 20 percent below that trend.
At a time where the only thing a company has to do to sell firearms, ammo and accessories is to unlock their doors, Dick’s sales have flat-lined. In fact, their sales dropped 2.2 percent in the fourth quarter of 2012 compared to 2011 and their shares 10 percent in the last quarter.
Just weak consumer spending, right? Not so fast there hoss…
“Cabela’s Inc. stock closed up more than 16 percent, among leading gainers on the New York Stock Exchange, and hit a 52-week high Thursday after reporting strong financial results above the market’s and the company’s expectations.”
Gun sales accounted for almost two-thirds of Cabela’s gains, with their sales up by 24 percent over last year.
“First-quarter results exceeded our expectations on every line of the income statement,” said Cabela’s Tommy Millner. “In addition to expected increases in firearms and ammunition sales, we saw particularly strong performance in softgoods and footwear.”
This may have been a fatal error. A two percent dip in sales may seem trivial, but revenue performance is a ticket to the big show: stock price valuation. A decline in stock price means that the investment is going to Dick’s competitors, who can then outbid and out-compete it in the near and long term. Dick’s may have just made itself the Woolworth’s of the sporting goods world.Share
The Department of Agriculture announced a $4 million dollar, expanded-eligibility plan to increase food stamp access at farmers markets this week.
Agriculture Undersecretary Kevin Concannon announced that in an effort to make more produce readily available to participants in the Supplemental Nutrition Assistance Program (SNAP), or food stamp program, the agency is expanding the use of wireless point-of-sale equipment to farmers markets and direct marketing farmers who do not already have such equipment.
Food stamp recipients seemed confused, however. “Farmers market ain’t got no Mountain Dew and Skittles for sale!”Share
Harry Reid wants you to know why Obamacare sucks. It sucks because of Republicans.
Senate Majority Leader Harry Reid (D-Nev.) says he shares colleagues’ concerns that the Affordable Care Act could become a “train wreck” if it’s not implemented properly.
Reid warned that people will not be able to choose health insurance plans on government health exchanges if federal authorities lack the resources to set them up and educate the public.
“Max said unless we implement this properly it’s going to be a train wreck and I agree with him,” Reid said, echoing a warning delivered last month by Senate Finance Committee Chairman Max Baucus (D-Mont.).
Reid warned the federal government is not spending enough money to implement the law because of Republican opposition to ObamaCare.
Of course the reality is the Democrats underfunded it quite on purpose. They knew it wouldn’t pass if they had accurate costs. It barely passed as it was, in the middle of the night, when no one was watching, and Reid pulled every dirty trick he could muster to get it through. This is the most blatantly statist, leftist, and partisan piece of bureaucratic crap ever passed.Share
He told Americans yesterday that about 280 million of them have received all they are going to get from his signature law. Here is Obama.
“For the 85 to 90 percent of Americans who already have health insurance, this thing has already happened. And their only impact is that their insurance is stronger, better, more secure than it was before. Full stop. That’s it. They don’t have to worry about anything else.”
There you go. Happy birthday. I hope you like it because that’s all there is.
Well, that isn’t exactly true. There are the profoundly destructive Obamacare tax increases; they are still coming.
Oh, and health care rationing by the Independent Payment Advisory Board, an unelected and unconstitutional board of bureaucrats. That is still coming up.
Skyrocketing health care premium rates are coming too.
Of course some of you will lose your jobs and others will be reduced to part time and under 30 hours a week due to the law. That is still to come. You will still be required to buy insurance, however, or pay the “tax”.
Other than that, I agree with the president. You have got all you are going to get from Obamacare.Share
Revoistas have had time to mentally prepare for the bureaucratic and economic butt-hurt about to afflict America. A significant minority of Americans are unaware of the assault that they are about to endure. A new poll shows 42 percent of Americans are unaware Obamacare is the law.
A new poll finds that many Americans are confused about the health care overhaul legislation commonly called “Obamacare.”
The Kaiser Family Foundation released results of a non-partisan study today finding more than 40 percent did not even know the law was in place.
“Four in ten Americans (42%) are unaware that the ACA [Affordable Care Act] is still the law of the land,” the report says, “including 12 percent who believe the law has been repealed by Congress, 7 percent who believe it has been overturned by the Supreme Court and 23 percent who say they don’t know enough to say what the status of the law is.”
The survey showed public opinion on Obamacare is at its second-lowest rating in the past two years.
Seriously kids, if you want to troll the Internet like an artiste, here is your model. A super Econ-Muggle has a plan.
Just think what America would look like without its mostly Southern states. (We could retain “America”: they could call themselves “Smith & Wesson” or “Coca-Cola” or something like that.) Universal health care. No guns. Strong unions. A humane minimum wage. A humane immigration policy. High revenues from a fair tax structure. A massive public-works program. Legal gay marriage. A ban on carbon emissions. Electric cars. Stronger workplace protections. Extended family leave from work in case of pregnancy or illness. Longer unemployment benefits. In short, a society on a par with most of the rest of the industrialized world—a place whose politics have finally caught up with its social and economic realities.
“A ban on carbon emissions.” I’d like to see that. It would be interesting watching them reduced to sustenance farming followed by hunting and gathering and, after failing that, cannibalism. It would be a reverse zombie pocky-lips.
Leftists: Economic cargo cultists.Share