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Archive for the ‘Economics’ Category

Politics-AB-AT

20 Feb

It is interesting to see liberals crying because President Trump is making so many cuts to the budget by firing federal workers. President Biden deliberately trashed the economy by spending billions of dollars in the last  three months in office with no authorization from Congress, in order to fuel inflation and make it difficult for President Trump to control it. A lot of it has been untraceable and a lot of it that has been was traced to companies connected to Democrat Congressmen like Stacey Abrams. That is in addition to expanding the national debt to seven times what  it was when he took office. That is going to take a lot of cutting to balance the budget because those expenditures were not in the budget. The Balanced Budget Amendment requires budget cuts equal to every new expenditure. Democrats have consistently gotten around it by constantly forcing increases in the debt ceiling to allow them to continue taxing and spending. That has got to stop. You can only increase the debt so far before you are paying so much interest that you aren’t paying anything on the principle. Then it becomes a Black hole you can’t get out of. There has also been very little oversight of the government agencies in recent years and there has been a tremendous amount of waste building  up. Liberal Congressmen claim President Trump has no authority to make cuts in the various agencies which shows how ignorant they are of the Constitution. The agencies are part of the executive branch and are under the direct supervision of the President with the oversight of the Senate. The President appoints the agency heads and oversees their operation. President Biden did not hesitate to manipulate the agencies to promote his agendas. For instance, he authorized the Post Office to deliver abortion pills to States that did not allow abortion and authorized Veteran’s hospitals to perform abortions in those States in violation of State laws. If President Biden has the authority to order the agencies to violate the law, President Trump definitely has the authority to order them to obey the law.

 

 

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04 Feb

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Economics-EF

27 Jan

Democrats accuse the Republicans of refusing to negotiate on the debt limit, but they are refusing to do so as well. They have repeatedly pushed the budget to the deadline and then demanded Republicans give in and raise the debt limit. When Republicans refuse, they accuse Republicans of threatening the stability of the economy by refusing to raise the debt limit and allow Democrats to go on spending.  Now that Democrats no longer have the majority and the ability to raise the debt limit, they have decided to take a lesson from President Biden and simply designate the expenditures as outside the budget. By removing it from the budget, they can continue their wasteful spending without exceeding the spending limit. However, no matter how you look at it, the money comes out of the treasury and is paid for by working Americans. Politicians need to realize that the government doesn’t have an unlimited amount o f money. There comes a point where the American people cannot or will not support the out of control spending in Washington. The American people have to live within their income and the government should do so as well.

 

 

 

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17 Dec

 

Politics-AB-AF

27 Oct

I have never seen such a bold attempt to buy an election in my life. President Biden has continued to promote student loan forgiveness even though the Supreme Court has ruled that it is unconstitutional  three times already. The President does not have the authority to authorize the expending of billions of dollars without an act of Congress. Younger voters already favor Democrats because of the widespread welfare and social programs. By his continuous promotion of student loan forgiveness, he is cultivating favor with young voters who are piling  up thousands of dollars in student loans. Whether he ever gets to fulfill that promise makes no difference as long as it gets him the votes to push Kamala Harris into the White House to continue pushing his liberal policies. In addition, he is trying to buy the votes of Seniors  by pushing the cost of living raise for Social Security up before the election, although so far it seems to be going mainly to those on Social Security disability. Those of us on regular Social Security have not seen any raise yet. He also suppressed criticism of the reductions in Medicare payments that Democrats pushed through Congress which will force providers to increase the cost of Medicare Advantage plans to Seniors or reduce the services they provide. When he realized that those increases would come before the election, he authorized billions of dollars in payments to providers to get them to hold off on increases until after the election so it would not alienate Senior voters. Again, he has no authority to authorize expenditures without an act of Congress. He seems to feel that Congress is not needed, and he can authorize whatever he wants. This is still a democracy, but he acts like he is a dictator with unlimited authority. He continues to add billions to the national debt with the stroke of a pen. Republicans are afraid to protest too loudly for fear of alienating young voters and Seniors.

 

 

Economics-D-I

21 Oct

The Estate Tax- Kamala Harris wants to push our estate tax to the highest in the world to heavily tax the rich.  That sounds good. Some States also have estate taxes of their own. They say those who oppose it are rich and are trying to get rid of it. Such rhetoric stems from a basic misunderstanding of what it is. The estate tax is a tax on the estate of someone who dies. The assumption is that only the rich pay the tax. However, those who have a large business generally are not affected by the estate tax because they usually incorporate the business and include their children in the business. As a result, the children don’t have to pay any estate tax because the business assets belong to the business and are not considered part of the assets.  The tax hurts family farms and family businesses the most. A farmer may own 1000 acres and leaves it to his children when he dies. His children often have to sell the farm to pay the tax since the farmer probably doesn’t have the savings to pay the tax.  All his money is tied up in land, buildings, and equipment. Not only does the family lose the income from the father (the breadwinner) who dies, they also lose the means to continue earning a living (the farm). The same goes for a man who owns a small business, like a grocery store in a small town. Communities also suffer because many of those businesses in small towns close because they cannot find a buyer. It may be the only grocery store, barber shop, or other business of its kind in the town forcing residents to drive to nearby cities for those services. It also leaves those who work for the business out of work.  Those who are retired generally have most of their assets in money producing stocks which the family has to sell to pay the tax so their children also lose the income.

 

 

Economics-D-A

15 Sep

President Biden is pushing for a crypto currency. Such a currency would allow the government to know how much money you have, where it is kept, and how you spend it. Every transaction you do would be recorded and could be monitored. They could control what you purchased and who you supported. While many say that the American people would never accept an economic  system like is recorded in the book of Revelations, liberal politicians in Washington are pushing for exactly that. The system he proposes would eliminate all paper money and coins and would give the government complete control of all money transactions. While nothing is being said about a computer chip to handle transactions, once it is in place, the government could require it and there would be no alternative to it. You either get the chip or lose the ability to access your funds. The Obamacare bill included a provision for a computer chip to be inserted with medical information to allow access to government health care once private insurance was eliminated.  The medical chip would include an ID number similar to the Social Security number but that would be required of everyone accessing medical treatment, that could than be expanded to include financial transactions in the same way that the Social Security number was. The original Social Security card said it was not to be used for anything but Social Security, but is now utilized by almost all major financial transactions. Once it is in place, they could simply remove your number and you would be unable to buy or sell anything. They could easily eliminate anyone they felt posed a threat or refused to cooperate with them. The federal reserve is already testing it and major banks are expected to join in soon.

 

 

Economics-G-A

21 Aug

Kamala Harris claims that she will institute price ceilings to stop the price gouging of big corporations. She refuses to admit that the price raises are the result of out of control government spending which has fueled inflation and increased regulations and taxes on corporations  which have driven up production costs forcing companies to recoup the increased costs from the consumer. Price ceilings have never worked. They limit how much a company can charge for its product but do not limit the costs of producing the product. When companies can no longer charge enough to pay for producing goods, they stop producing them. The result is that the product is no longer available and the workers who produced them are laid off. It sounds good to stick it to corporations but people forget that corporations have to make enough to pay their expenses in order to stay in business. When they can no longer meet expenses, they go out of business. President Trump recognized that. He cut government spending and the rate of inflation dropped. He also cut taxes and regulations and businesses expanded, the economy flourished, and unemployment dropped.  President Obama and President Biden expanded government spending and increased taxes and business regulations. As a result, inflation increased and businesses cut back production and laid off workers. President Biden even went beyond President Obama in wasteful government spending and in expanding welfare benefits which led many people to go on government benefits rather than go to work. The result is less job openings, but far fewer people looking for work so there are a lot of jobs available but people don’t want to work because they can make more in government benefits.

 

 

Senior Citizens-E

03 Aug

President Biden’s administration has been hard on Seniors. President Biden’s massive spending has fueled increasing inflation like we have not seen for a long time. Seniors are hurt by it since they are on a fixed income. While they give Seniors a cost of living increase, it is only after the fact and does not return the loss. If the Social Security is considered adequate at the beginning of the year, and inflation increases costs 4% during the year, the Senior income buys 4% less at the end of the year. If they get a 4% increase, it brings them up to adequate but doesn’t reimburse them for the past year’s loss. That continues every year, but the Senior is never reimbursed. In addition, the cost of Medicare increases and is taken out of the Senior’s check so his income is not really being brought back up to adequate. Due to wasteful spending, the inflation rate has far exceeded 4%. Worse yet, the cost of living is based on across the board increases while increases in food, and fuel for heating and travel have increased far more than the estimated cost of living and make up the bulk of Senior expenses. Auto fuel alone has risen over 100%. It is requiring many Seniors to dip into their life savings at an increased rate and those savings will not be adequate given the increase in years Seniors now live. As a result, an increasing number of Seniors will reach the point where they can no longer afford to live in their own home and will be forced to move to government subsidized housing. Since many of their homes are paid for, it will be far more costly for the government.