◼ On Monday, South Carolina Governor Nikki Haley announced that she was appointing U.S. Congressman Tim Scott to the U.S. Senate seat being vacated by Jim DeMint. When he is sworn in on January 3, Scott will be the lone African American of either party in the Senate but this historic news didn't seem to interest ABC or CBS as neither mentioned the news that night. - Warner Todd Huston/Breitbart
One would think that the "diversity" of this story alone would be of interest to the big networks. After all, we have a female Governor who is the daughter of Sikh immigrants appointing the only African American to the Senate. We also have a Senate seat that is famed for having once been occupied by Strom Thurmond, a one-time Dixiecrat, segregationist turned repentant Republican. And we have the first black Senator from a southern state since Blanche Bruce of Mississippi in 1881. This is almost "diversity" overload.
Perhaps one mitigating factor for the old networks is that all of this "diversity" was wrought by Republicans?
To its credit, NBC did spend some time on this historic appointment. A whole 24 seconds.
◼ South Carolina Governor Nikki Haley is single-handedly diversifying the Republican Party. Haley, an Indian-American, just appointed Representative Tim Scott to replace the state's departing senator, Jim DeMint. Scott will be the only black in the Senate. And South Carolina will have an Indian woman in the governor's office and a black senator. That's remarkable. - Francis Wilkinson/Bloomberg
The Democratic Party incorporated black voters into the fold after championing civil rights legislation in the 1960s, then gradually made room for black elected officials. It diversified from the ground up. Republicans are working in the opposite direction. The party rank and file is overwhelmingly white. But Republican elected officials are increasingly diverse. Scott will join Cuban-American Republicans Marco Rubio and Ted Cruz in the Senate. And in addition to Haley, Republicans can point to Louisiana Governor Bobby Jindal, and Governors Brian Sandoval of Nevada and Susana Martinez of New Mexico.
Tuesday, December 18, 2012
Dear @SpeakerBoehner, it’s time for Plan C — The Christmas Strategy
◼ It is very frustrating to watch John Boehner and House Republicans twist themselves into contortions in a futile attempt to appease Obama. - Le-gal In-sur-rec-tion
Please move on to something I have been suggesting repeatedly since early December, when it became clear Obama would not negotiate in good faith, The Christmas Strategy, or if you prefer, Plan C:
Now pass Plan C and send it over to Harry Reid. Then go home.
Please move on to something I have been suggesting repeatedly since early December, when it became clear Obama would not negotiate in good faith, The Christmas Strategy, or if you prefer, Plan C:
I say call his bluff. If a deal which tackles deficits from both revenue and spending can be reached this month, great.You tried really hard. It failed because Obama wants it to fail.
If not, pass a 90 day extension of current tax rates and whatever else is needed to postpone the “cliff,” and go home for Christmas to give time for a Grand Bargain which puts Democratic sacred cows on the table.
Let Harry Reid refuse to bring it to a vote, and Obama refuse to sign it. Their inaction will be the reason for taxes rising for everyone.
Now pass Plan C and send it over to Harry Reid. Then go home.
Starving CA govt. begins to devour itself
◼ Caught between rising pension costs and declining tax receipts, several local governments in California have gone bankrupt, including the city of San Bernardino, which has stopped making its required contributions to the California Public Employees Retirement System. CalPERS is threatening to sue. - Mark Cabaniss/Cal Watchdog
Meanwhile, the county of San Bernardino is thinking of trying to help the local economy by injecting it with billions of dollars, which, unfortunately, it doesn’t have. So the people who run the county are thinking of simply seizing the money by using eminent domain. But an examination of the plan reveals a simple scheme in which the right hand of government robs the left hand of government, because the idea that has been floated is simply to confiscate the money from institutional investors — and many of these institutional investors are pension funds, including government pension funds like CalPERS.
The plan came from Mortgage Resolution Partners, or MRP, of San Francisco, and it goes like this: local governments would try to help local homeowners out of the housing crash by using eminent domain to condemn underwater mortgages, then refinance the mortgages with lower principal amounts, which would then have lower monthly payments, so local homeowners wouldn’t have to take the losses from the bursting of the property bubble.
MRP would take a $4,500 fee for each refinanced home. As there are an estimated 20,000 to 30,000 homes in San Bernardino County that would be good candidates for the plan, that would make MRP’s cut $90 to $135 million in San Bernardino County alone. And the plan might expand elsewhere in California, even other states.
A public purpose supposedly would be served because each refinanced homeowner would suddenly have hundreds of dollars of “free money” each month to pump into the local economy. But so far, there has been no mention of who would lose all of this free money, other than some vague references to “Wall Street...” More at the link.
Meanwhile, the county of San Bernardino is thinking of trying to help the local economy by injecting it with billions of dollars, which, unfortunately, it doesn’t have. So the people who run the county are thinking of simply seizing the money by using eminent domain. But an examination of the plan reveals a simple scheme in which the right hand of government robs the left hand of government, because the idea that has been floated is simply to confiscate the money from institutional investors — and many of these institutional investors are pension funds, including government pension funds like CalPERS.
The plan came from Mortgage Resolution Partners, or MRP, of San Francisco, and it goes like this: local governments would try to help local homeowners out of the housing crash by using eminent domain to condemn underwater mortgages, then refinance the mortgages with lower principal amounts, which would then have lower monthly payments, so local homeowners wouldn’t have to take the losses from the bursting of the property bubble.
MRP would take a $4,500 fee for each refinanced home. As there are an estimated 20,000 to 30,000 homes in San Bernardino County that would be good candidates for the plan, that would make MRP’s cut $90 to $135 million in San Bernardino County alone. And the plan might expand elsewhere in California, even other states.
A public purpose supposedly would be served because each refinanced homeowner would suddenly have hundreds of dollars of “free money” each month to pump into the local economy. But so far, there has been no mention of who would lose all of this free money, other than some vague references to “Wall Street...” More at the link.
Labels:
California,
Economy
NEW: Reality could stifle Prop. 13 reform attempts
◼ California legislators from San Francisco are “eager to reform Proposition 13 tax policies.” - Wayne Lusvardi and Charles B. Warren/Cal WatchDog
If California is going to resolve its longstanding budgetary and tax problems and keep a market-based democracy intact, the supermajority Democrats are going to have to run the state on more than demonization of big business and draconian tax changes.
◼ San Francisco legislators are eager to reform Proposition 13 and related tax policies - Mike Billings/SF Examiner
First, they will come for the commercial properties.
If California is going to resolve its longstanding budgetary and tax problems and keep a market-based democracy intact, the supermajority Democrats are going to have to run the state on more than demonization of big business and draconian tax changes.
◼ San Francisco legislators are eager to reform Proposition 13 and related tax policies - Mike Billings/SF Examiner
First, they will come for the commercial properties.
Labels:
California,
Democrats,
Prop 13,
Property Rights,
Super Majority,
Taxes
Anxiety rises as Americans face start of Obamacare
◼ This March will mark three years since Obamacare became law, and it still has not had any serious effect on most Americans' lives. That's the way President Obama and the law's Democratic authors planned it; they conveniently pushed the dislocations and unhappy consequences of national health care well past their re-election campaigns. - Byron York/Washington Examiner
This March will mark three years since Obamacare became law, and it still has not had any serious effect on most Americans' lives. That's the way President Obama and the law's Democratic authors planned it; they conveniently pushed the dislocations and unhappy consequences of national health care well past their re-election campaigns....
Over the past months there has been scattered press coverage of coming problems. That is likely to increase in 2013. There will be more stories with headlines like this, from Bloomberg News last week: "Aetna CEO Sees Obama Health Law Doubling Some Premiums."
And this, from the Associated Press: ◼ "Surprise: New Insurance Fee In Health Overhaul Law."
And this, from the Wall Street Journal: ◼ "Health-Care Law Spurs a Shift to Part-Time Workers."
Real-world experience might even spark some rethinking of Obamacare's premises. For example, the president and his Democratic allies promised Obamacare will cut the deficit. That's almost certainly not true, although many in the press repeated it faithfully. Now, with Obamacare near, there are hints of a reassessment.
This March will mark three years since Obamacare became law, and it still has not had any serious effect on most Americans' lives. That's the way President Obama and the law's Democratic authors planned it; they conveniently pushed the dislocations and unhappy consequences of national health care well past their re-election campaigns....
Over the past months there has been scattered press coverage of coming problems. That is likely to increase in 2013. There will be more stories with headlines like this, from Bloomberg News last week: "Aetna CEO Sees Obama Health Law Doubling Some Premiums."
And this, from the Associated Press: ◼ "Surprise: New Insurance Fee In Health Overhaul Law."
And this, from the Wall Street Journal: ◼ "Health-Care Law Spurs a Shift to Part-Time Workers."
Real-world experience might even spark some rethinking of Obamacare's premises. For example, the president and his Democratic allies promised Obamacare will cut the deficit. That's almost certainly not true, although many in the press repeated it faithfully. Now, with Obamacare near, there are hints of a reassessment.
Labels:
Obamacare,
ObamaTAX,
Skyrocketing Costs,
Taxes
Morning Bell: GOP Leaders Capitulate on Core Conservative Principles
◼ House Speaker John Boehner (R-OH) and Republican leaders have done it once again. Their latest fiscal cliff proposal capitulates on core conservative principles, yielding woefully inadequate concessions from President Obama in the process. Will they ever learn? - Rob Bluey/Heritage's Foundry
The latest GOP offer essentially ignores Washington’s real problem — spending — and puts a $1 trillion tax hike on the table. It’s so bad that conservatives are now left with only one unfortunate alternative — passing a temporary measure that avoids a doomsday scenario until the end of March. It’s the best possible outcome with the days dwindling on the remainder of 2012.
In a city where kicking the can has become a routine course of action, it’s hardly the preferable outcome for lawmakers. But it would be better than just going over the fiscal cliff and better than the current $1 trillion tax increase offered by Boehner, which, not surprisingly, was summarily rejected by Obama, who proceeded to counteroffer with an even bigger tax hike and even fewer spending cuts. At this point, no “grand bargain” is going to result in the spending cuts that are needed to reduce the debt.... more at the link.
◼ Fiscal Cliff Solutions: Soar Over the Cliff or Kick the Can - J.D. Foster, Ph.D./Heritage's Foundry
Kicking the can is the least repugnant remaining resolution to the fiscal cliff. The only alternatives appear to be the Republicans’ unconditional surrender on income tax rates (and conceding their principles) or simply going over the cliff.
The story is now a familiar one. Congress and the President conspire to delay every conceivable difficulty until after the election; not just Taxmageddon and the rest of the fiscal cliff, but also the farm bill and much more. With the election in the past, the man-made crisis unfolds on schedule.
The essential lines in the sand in this conflict have not changed for years. The President’s position is simple—a “my way or the highway” approach under which Republicans must capitulate on income tax rate hikes and keep all other serious issues off the table.
Never mind that Obama ◼ already raised taxes on upper-income taxpayers through the 3.8 percent Medicare surtax imposed under Obamacare.
Never mind that tax rate hikes would weaken an economy stumbling so badly the Federal Reserve doubled its risky efforts to keep the economy from recession. Never mind Obama’s approach would likely put the kibosh on any hopes for tax reform. Never mind the resulting revenues would be a small drop in a very big bucket compared to projected budget deficits. Never mind that the only justification for higher taxes is spite and envy to be exercised through the extortive power of the federal government.
In his view, President Obama ran for re-election on, and now has a mandate for, raising income tax rates. In fact, his mandate is solely to continue to press his case. Ours is not a parliamentary system, and Obama is not the prime minister. And so he faces the pesky reality that House Republicans ran opposing higher tax rates and they, too, were returned to Washington in the majority to press their case. Their mandate is no greater, but certainly no less than Obama’s....
Policymakers have put us in this terrible position through the nasty habit of kicking the can—avoiding difficult policy decisions. What is proposed here—another short-term kicking of ye olde can—is akin to the “hair of the dog” prescription for hangovers. It is not a good solution, but sadly, it is better than the only available alternatives. More at the link
The latest GOP offer essentially ignores Washington’s real problem — spending — and puts a $1 trillion tax hike on the table. It’s so bad that conservatives are now left with only one unfortunate alternative — passing a temporary measure that avoids a doomsday scenario until the end of March. It’s the best possible outcome with the days dwindling on the remainder of 2012.
In a city where kicking the can has become a routine course of action, it’s hardly the preferable outcome for lawmakers. But it would be better than just going over the fiscal cliff and better than the current $1 trillion tax increase offered by Boehner, which, not surprisingly, was summarily rejected by Obama, who proceeded to counteroffer with an even bigger tax hike and even fewer spending cuts. At this point, no “grand bargain” is going to result in the spending cuts that are needed to reduce the debt.... more at the link.
◼ Fiscal Cliff Solutions: Soar Over the Cliff or Kick the Can - J.D. Foster, Ph.D./Heritage's Foundry
Kicking the can is the least repugnant remaining resolution to the fiscal cliff. The only alternatives appear to be the Republicans’ unconditional surrender on income tax rates (and conceding their principles) or simply going over the cliff.
The story is now a familiar one. Congress and the President conspire to delay every conceivable difficulty until after the election; not just Taxmageddon and the rest of the fiscal cliff, but also the farm bill and much more. With the election in the past, the man-made crisis unfolds on schedule.
The essential lines in the sand in this conflict have not changed for years. The President’s position is simple—a “my way or the highway” approach under which Republicans must capitulate on income tax rate hikes and keep all other serious issues off the table.
Never mind that Obama ◼ already raised taxes on upper-income taxpayers through the 3.8 percent Medicare surtax imposed under Obamacare.
Never mind that tax rate hikes would weaken an economy stumbling so badly the Federal Reserve doubled its risky efforts to keep the economy from recession. Never mind Obama’s approach would likely put the kibosh on any hopes for tax reform. Never mind the resulting revenues would be a small drop in a very big bucket compared to projected budget deficits. Never mind that the only justification for higher taxes is spite and envy to be exercised through the extortive power of the federal government.
In his view, President Obama ran for re-election on, and now has a mandate for, raising income tax rates. In fact, his mandate is solely to continue to press his case. Ours is not a parliamentary system, and Obama is not the prime minister. And so he faces the pesky reality that House Republicans ran opposing higher tax rates and they, too, were returned to Washington in the majority to press their case. Their mandate is no greater, but certainly no less than Obama’s....
Policymakers have put us in this terrible position through the nasty habit of kicking the can—avoiding difficult policy decisions. What is proposed here—another short-term kicking of ye olde can—is akin to the “hair of the dog” prescription for hangovers. It is not a good solution, but sadly, it is better than the only available alternatives. More at the link
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