Seems in the “old” format there were people here lightening quick to comment on the “events” of the day. What happened? Are things beginning to unfold as some of us Conservative pedicted?

TARP didn’t work.
“We” said that the problem was “the first three pages”. No ONE person should have autonomy over that much money. People complained that Paulson took care of “his boyz”. Tim Geithner had a seat during these negotiations in his Treasury capacity in New York. Nevermind he didn’t pay “his” taxes. Nevermind he was in the Finance Capitol of the World during the developement of these “creative instruments”. Nevermind Freddie and Fannie as the “tipping points”,he “HAD” to be made Sectretary of the Treasury. Nevermind he was aware of the bonuses in the contracts of the top dogs in AIG,Merrill Lynch etc.

Auto Industry....Bail out didn’t work.I’m not even going into the Unions on this one. They should not have had a seat at the table for discussion in the first place. The companies have to comply with what The Obama administration and Nancy Peloci demand they manufacture. Nevermind the “money makers” are trucks and SUVs (11 out of the 20)we are “GOING GREEN” and it is not up for discussion."WE" are causing Climate Change (farmally know as Global Warming and or There is/was nor will be any way that they can get on track without filing Chapter 11 and do a structured revamp of their overall business plan,nearly from scratch. They, the government, “fired” the CEO. It was symbolism,another jesture to feed class envy.

Congress passes a 1000+ page bill that was impossible to have read in the time of the vote that “now” are uncovering details of pork, committments to the federal government by states for taking the money that they will have to continue when the money runs out,overturning welfare reform of 1996 that will, in affect, restimulate the Welfare State. This “Stimulus/Porkulous” Bill, Omnibus Bill will generate by any accounts, deficits into the “MULT TRILLIONS” over the next 15 years.Meanwhile....
NO ONE in congress,who what “at the switch” is being held accountable for their parts in this whole thing. “There is plenty of blame to go around.” When is some of this “blame” going to fall on Dodd, Frank,Rangle,Schumer,Biden, Obama,Peloci,Reed or any of the other names that keep floating to the surface? Do you “really” think that these people will honestly work on “our” behalf when they have asses to cover?When they are trying to preserve their positions and expand those positions and authority? We are on a slip stream right through socialism to fascism. To “them” we are too stupid to understand the importance of what they are trying to do to “save us from ourselves” on numerous fronts,thus the bombard of so many issues at one time.

These are just surface items that are being run right in our face. I’m not even going to get into what “The Bama"is trying to do at the G20 conference or his foriegn policy.
I will say this...we are turning into the country that our ancestors left and all of its intrusion and impositions to the freedoms that this country was built on that made us great.
Not saying, “I told you so"… yet. JUNE is my prediction of total caos in Washington and the nation as even the supporters of The Bama “sober up” and see “who he really is” and “what he is really trying to do”.
Just some thoughts.....

LOL talk about stirring up the pot… go’ahead dukester haha

ps. maybe everyones sick of hearing how horrible a mess everything is. I know I am.

I’d agree with Mo’ Gut - I think we’re all tired of the subject. The approaches to the problems will either work or they won’t. I hope they do - if it was McCain instead of Obama, I’d still be praying that he would succeed.

Salman Rushdie was on Bill Maher the other night, and I think he said a very astute thing - that in every other country in the world, political acrimony is just as heated, and opposing parties/factions are just as combative if not more so. He went on to say that the winners in an election ought to just get on with the business of running the country and ignore the losers, instead of trying to placate them or give them a fair hearing. I agree.
The Republicans will always be trying to take down the Dems and Obama, they’re not interested in working “with” the administration.

Like it or not, Obama is the captain at the helm of the ship. To say, in effect, that one hopes he runs the ship into the rocks strikes me as a pretty dumb thing. We’ve already seen the GOP’s “alternative” budget - more tax cuts for the rich and a spending freeze. That will solve nothing. Rich people won’t hire more people because they get a tax cut - tax cuts don’t create jobs. They just save people money at the END of the fiscal year. A spending freeze is lunacy and unworkable.

What I’m really rooting for is that the Dems in the Senate get this “reconciliation” pushed through so that a simple majority vote will be enough to pass something. Then that will be the end of the GOP stalling and blocking stuff. Hey, the GOP was more than happy to side with this same tactic during the Bush years. It’s all “turnabout is fair play” to me. The Republicans had their eight years.

Blame? What kind of possible contructive action can come from placing blame? It’s not going to fix anything. So Dodd screwed up, and Pelosi and Reid are cozying up to the NRA because hey, no one wants to piss off Wayne LaPierre, right? Politicians are what they are. That they can accomplish anything positive is a miracle.

As far as the bailouts go, well, that money is gone. So too bad.
It doesn’t look good for GM, I personally think they’re going to go to bankruptcy. If they do, their cars will become fairly worthless, because they owe so much to their suppliers, and thus you won’;t be able to get parts very easily, regardless of the “guarantee” of the warranties that Obama has promised.

I’m not in favor of everything the Obama administraton is doing right now. I don’t understand why the justice department is dropping the case against Ted Stevens. That’s not cool.

That said, I don’t buy this “socialism to fascism” rant. For one thing, is life in Sweden so terrible? I’d agree that things are going more “socialist” but I don’t see an alternative. Unregulated capitalism doesn’t work, as we’re seeing now. When you have no health insurance and no place to live, that “socialistic” city hospital is where you’re gonna go when you get sick or injured.
I couldn’t care less whether the U.S. and the rest of the world is going “socialist”, but nevertheless, it’s going there anyway, so get used to it. Fascism? I don’t see it, sorry. Fascist dictatorships don’t work for very long. If you choose to swallow Glenn Beck’s b.s. about “concentration camps” then I say go ahead and watch NBC’s new show “Kings”. Might as well be entertained while you indulge a fantasy.

Here is an example of the intrusion into personal freedom that Duke, and rightly so, is concerned about.

Yesterday in CA we became the beneficiaries of a 1% sales tax hike which now puts us 8.75% where I live.  This, of course, will cause less purchases in CA and more out of state internet purchases.  Again, this is the type of ultra-stupidity that ultra-liberal thinking creates.  But to continue....

As a CPA I am notified by the state gov whenever they feel it is important that the general public be aware of certain fiscal things.  I recently recieved a notice gently encouraging me to warn all my clients about the perils of purchasing products from out of state in order to avoid sales tax (the very thing they encouraged you to do by increasing taxes).

You see, CA has the “use” tax which gives CA the right to tax you if you “Use” products not purchased in CA. (I will be in peril because I plan to purchase and use a Nord Electro 3 from the internet very soon!)

The notice indicated the gov would like the public to be aware that the gov can and will go into your personal bank and credit card accounts and determine if you have made these types of purchases. 

SURPRISE....they now have ownership in these banks and credit card companies!

Once determined you will be billed for what “they” determine you owe them.  Of course, they will not stop at merely billing you....if you cannot pay then these lunatics will resort to all the bullying techniques one would come to expect from bloated liberal government.....all tactics based upon you being guilty until proven innocent.

I suppose if you had a bar code “chip” implanted in your hand, it might make it easier for the gov to assess “sales and use” tax wherever you made your purchases.

Yeah.....that would indeed be a good idea!

I was thinking that the term “Tax” is so negative.  Wouldn’t it be wonderful if we could create a more positive term to replace it with.  It would be such a liberal accomplishment.  Like closing gitmo (NOT).

I am so pleased with the new terms for “war on terror” that I thought this would be especially appropriate.  It makes me “feel” so warm and nice to know that while Obama is increasing forces in foreign lands that I don’t have to think of it in such ugly terms as “War”.  Aahhhh…

It would nice to think that Bill Maher would approve, though I’m sure he would ........perhaps we could ask him to invent a new term for us!  After all....he is a comedian!

Don’t you, too, just love the new Orwellian “doublespeak”!

questconsulting - 02 April 2009 05:42 PM

Yesterday in CA we became the beneficiaries of a 1% sales tax hike which now puts us 8.75% where I live.  This, of course, will cause less purchases in CA and more out of state internet purchases.  Again, this is the type of ultra-stupidity that ultra-liberal thinking creates.  But to continue....

You see, CA has the “use” tax which gives CA the right to tax you if you “Use” products not purchased in CA. (I will be in peril because I plan to purchase and use a Nord Electro 3 from the internet very soon!)

The notice indicated the gov would like the public to be aware that the gov can and will go into your personal bank and credit card accounts and determine if you have made these types of purchases. 

Quest, you’re posting misinformation. The State of California does NOT have the right to tax out-of-state purchases - yet. Nor do they have the right to access bank account information. Only law enforcement agencies can do that - not the State Board of Equalization.

Here’s a link to a story on this issue:
http://news.cnet.com/8301-10784_3-9919420-7.html

Don’t get me wrong - I’m firmly opposed to internet transactions being taxed. Including i-Tunes downloads. But I doubt this is going to pass Congress - not without a lot of strong objection from both taxpayers and businesses. It’s like taxing the miles you drive in your vehicle - I doubt that will find favor among anyone,
and politicans usually don’t vote for something their entire constituency is vehemently opposed to. That’s political suicide.

Just want to see for myself where you’re getting your information..

Dave,

This link is not from CNN but is from the State Board of Equalization of CA regarding use tax:

http://www.boe.ca.gov/pdf/pub79b.pdf

Refer to 2nd page, 2nd paragraph...it states:

“Generally, if sales tax would apply when you buy a particular item in CA, use tax applies when you make a similar purchase from a business located outside the state....If the seller does not collect and report the CA tax on your purchase, you MUST report and pay use tax to us.”

The dining table purchase is a perfect example.

Grant it...these laws can be complex and I stand corrected when need be.  No ego here, I meet with people often just to try and get a grip on tax law.

This pdf file is a simplified wrap up of the law.....a much deeper investigation into the law is available.

As to their “right” to go into your records......its called a “ General Audit”.  If they can wield the power and authorize law enforcement....well whats the difference?

They can and do freeze assets, lien real estate, empty bank accounts.....on & on.

By “they” I mean the gov and all its agencies.  I take a very Libertarian stance on government.

Bottom line: talk to your CPA and stop reading liberal news sources!

My bad - yes, I downloaded the documents from the California BOE -
that’s correct, the user is responsible to pay sales taxes on items purchased over the internet from an out-of-state vendor.

I think this has been in effect for some time, however - I don’t think this is part of the recent sales tax increase legislation.(Might be wrong on that - my tax guy will tell me next year).

The law generally doesn’t apply to digitally delivered products, by the way - i.e., software that is downloaded from a site, or tracks from i-Tunes."Unless" the software was delivered on a physical medium such as a DVD in a box.

Here’s why I’m not necessairly opposed to sales tax levied on out-of-state purchases - it does make it more fair for business operating within the state selling the same kinds of products. If you’re pro-business, then you should applaud this too, as it counters the unfair advantage for an out-of-state vendor who doesn’t charge sales tax. In other words, I might as well go buy my next hardware at Guitar Center or my local music store and give them some business. The only reason I order from out-of-state vendors (such as Sweetwater) is because I can’t get what I want right away from a local vendor (such as Best Buy - ever try to find a FireWire storage device that’s Mac compatible at a Best Buy?).

Regarding an audit - again, yes that’s true. The State (and the Feds) can audit you for income tax returns. That’s been true for ages - not anything new. However, I don’t think that the State or even the Feds can access your bank account information outside of an audit - in other words, automatically going through the bank account of every taxpayer just because they “suspect” you purchased something out-of-state.

That said, as those CSI-style shows demonstrate, anyone can hack into your personal information and accounts, if they have the skills and means to do so, whether it’s legal or not. We’re all casualties of the flow of electronic data in today’s world. You can use a search website like Find-Anyone.com and for a nominal fee, it’s amazing how much dirt you can dig up about a person, including yourself.

Back to the increase in California taxes - it should be obvious that the state has no other option, it’s broke and has been assigned junk status and really can’t borrow anything substantial.
So there is no other way to close the budget gap - I have to ask where we would produce the money to close the budget deficit - out of thin air? The State was just like a lot of Americans - didn’t save when times were good, and overspent on a leveraged basis.
It’s simply time to pay up, as painful as that is. Tax cuts don’t close a budget deficit and they don’t create jobs. They only save people money on their taxes, period. Tax cuts may make it a bit more attractive to operate a business in a state, but we’ve been losing businesses to states like Nevada for many years anyway.

As for consumption taxes (on gas, cigarettes, alcohol, etc.) - I’m all for them. I’d rather pay increased consumption taxes “on the spot” than pay even more taxes at the end of the year - it’s pay up either way. Do I think the very idea of taxes is fair? No. Do I think the current system we have is fair? No. I’d rather there was a fair flat tax on everyone.

The chances of a flat tax passing Congress? Pretty much zero. So where does that leave me? Well, since I make less than 250,000 a year, you’d better believe I want the tax cut proposed by Obama. To say I don’t is like saying I haven’t eaten for a week, but I’ll pass on that free steak dinner, thanks. If I or my business makes more than 250,000 a year, then I either have to find enough tax loopholes, or spend less than I make. That’s the choice. Big corporations and the super rich, of course, get to opt for the loopholes and exemptions.Now, for me, I should be so lucky as to have to pay taxes on 250,000 a year income. That means I’m more successful than 90% of the people in this country.

Dave:

So, to be clear, I am NOT posting misinformation as you stated.

“[Dave] I think this has been in effect for some time, however - I don’t think this is part of the recent sales tax increase legislation.”

I never indicated that it was part of new legislation.....The link I provided is dated 2007.

“[Dave] Here’s why I’m not necessairly opposed to sales tax levied on out-of-state purchases - it does make it more fair for business operating within the state selling the same kinds of products. If you’re pro-business, then you should applaud this too, as it counters the unfair advantage for an out-of-state vendor who doesn’t charge sales tax.”

I think the better competitive edge would come from no sales tax and much less government spending and intrusion.....I am really stunned at people who defend the government and its tax and spend policies that, especially in CA, are unconscionable.....immoral.

“[Dave] However, I don’t think that the State or even the Feds can access your bank account information outside of an audit - in other words, automatically going through the bank account of every taxpayer just because they “suspect” you purchased something out-of-state.”

This statement just blows me away......you are completely naive. If they believe you owe them money (and you ARE guilty until you prove otherwise)....audit or no....they will ruin you if you do not begin immediately to deal with it.

They will notify your employer, garnish wages, lien property, destroy your credit...you gotta be kidding me......

I don’t mean to be rude, dude, but you really need to wise up!

The Auto related saga is heating up now, that’s for sure.  Full disclosure: I work for GM and speak here on my own, and share my own views and opinions, and in no way represent any official view of the company.

To my thinking, the Unions knew that Obama would blink, so why settle the first time around? Ditto for the bond holders. The new guy at GM does not suffer fools gently, so look for a more decisive stance. We’ll all know by June 1st, that’s for sure. One thing I do firmly believe is this: Unlike the banks, GM will repay the money. Every cent, and won’t rest until it’s paid. You all may think we’re a bunch of fools and idiots, but this is a very proud company that has had some trouble.  Please remember that you would not be hearing of our problems if the banks did not collapse. There’s not one person I know inside the company that does not bristle with all this bad news. Believe me, we intend to be around for a very long time to come.

On the plus side, It’s a really great time to buy a car or truck. Don’t worry about parts and service - you can still get parts for a 1975 Rambler.

My daughter recently bought a new Chevy Malibu, and no kidding, this is one great car! She got the 4 cylinder engine and gets 33 MPG on the road and almost 30 around town. Plenty of power, lots of features, etc. No problems to report. The back seat folds down, and it has a very big trunk. Lots of room for the 88 key crowd !

Bob

As far as Obama and what he’s doing… We have no choice now. Let’s pray he works this all out and we all come out the other side in good shape. I’m with Dave on this one. I see the results of unrestrained capitalism, and it’s not the the right way to go. We need to have some concern for our fellow man, and the recent banking fiasco will confirm that such care does not come naturally to everyone. Sometimes you need to apply some rules and agree on a ‘bottom line’ of care for the less fortunate among us.

We are a rich nation. Let’s behave like one.

Bob

Wise words, Sponge Bob.

Quest, I’m not naieve. I know what an audit is. I just don’t spend
my valuable hours worrying about the IRS. In fact I don’t worry about things I can’t control, including taxes. Whatever comes up,
I have to deal with it one way or another. But worry can be defined as “trying to reach a conclusion on action based on incomplete or unknown factors”.

Bob, in reply to:

“Sometimes you need to apply some rules and agree on a ‘bottom line’ of care for the less fortunate among us.”

You really are setting me up on this one aren’t you?  I won’t bite (this time) with my usual abortion bit.....but I will say this......

Any society which thinks it is helping its people by condemning future generations with unfathomable debt is completely lost in its own madness.  I’m speaking of a 10-13 trillion dollar overall debt that to pay back surpasses a million dollars a DAY for more than 30,000 years....Do you get that?

The yet unborn have no fair chance....their society, those that liberals will allow to survive birth, will remember what we’ve done to them.  You can rationalize like Dave P. and simply say “Oh well, I can’t control this so its must be OK”

Its not OK. God knows.....its NOT OK!

Liberalism and post-modernist relativism are creating a society so intensely perverse that it cannot even recognize itself beyond its own pitiful and selfish indulgences.

This perverse thing begins to believe it can do away with God in its institutions and rely upon itself instead.....and to what end will this self reliance bring us?  A society that has trashed countless unborn lives and bankrupted the rest....all that before they were born....Yup, thats called caring for the less fortunate among us....Nice

I work with the homeless on a regular basis and do you know what their prevailing attitude is?  They feel sorry for many of us who they know are going to end up just like them....but don’t know it yet.  Its funny to pray for folks who are, at the same time, praying for you.

So, you know, its like Jack says.....you don’t like what I’m saying?....do something about it!

“As far as Obama and what he’s doing… We have no choice now. Let’s pray he works this all out and we all come out the other side in good shape. I’m with Dave on this one. I see the results of unrestrained capitalism, and it’s not the the right way to go. We need to have some concern for our fellow man, and the recent banking fiasco will confirm that such care does not come naturally to everyone. Sometimes you need to apply some rules and agree on a ‘bottom line’ of care for the less fortunate among us.

We are a rich nation. Let’s behave like one.

Bob
...............................................................
I’m having trouble with the notion of “unrestrained capitalism” and the blame heeped on banks,Ceos and executives. For whatever reason you don’t “see” the role that the people who are part of oversight in government.In the House, Barney Frank and Charles Rangle and in the Senate Chris Dodd “WERE” assigned to be the “oversight” through their positions as head of Finance and Ways and Means in their federal capacities. Also responsible was Cox of the SEC. Also responsible was Geithner in the NY Treasury.
These people “WERE” responsible but have not been held accountable. It seems that Dodd may be asked to “fall on the sword” but we still have in place Congress members who were at the forefront of this issue and instrumental in its cause. There “WERE” rules already in place that were not followed or were altered in “concern for our fellow man” in the form of making housing available to those who didn’t meet the criteria banks had in place to assure that they were lending to people who could not only afford the homes but everthing that goes with it.
It takes us to the definition of and the criteria under what is a “Right” and what is a “Privilage”. Everyone has the “Right” to pursue home ownership but no one has the “Right” to own a home. That is EARNED and is a privilage. With all that comes with home ownership beyond buying the home, one has to be able to afford these elements also like property taxes, maintainance,association fees etc. The tipping point in the Freddie and Fannie aspects of investment was the knowledge of investors, who “DO” understand market principles, acted and behaved consistant with those principles. Hedge funds and insurance instruments are how they cover their investments (or asses depending on how you see it) to protect themselves and their investments (or asses) within an economic proposition that has been infected with a populous political insertion that isn’t part of the equation. For at least 2 decades, politicians and their constituents were making money but it was a house of cards “THEY” created with supposed “good intentions”.In the end, the economics won out over the politics.

As to a “rich nation”,the United States is the most generous in the world. We send money all over the world for all kinds of reasons to serve all kinds of purposes. If you had a choice of countries to be “poor” in, this would be IT.People at or below the “poverty limit” have cars, TVs, cable,cell phones,land lines and so much more,what used to be “luxury items” than the poor throughout the world. Part of why there is still so much poverty in the world is due to abuse and misuse of funds that we send to these countries by dictatorial governements and socialistic systems of government. For centuries,leaders have tried to “tweak” socialism to make it work. IT CAN’T and all one has to do is look at Europe.

Any efforts to legislate “FAIRNESS” is going to be “UNFAIR” to someone. That is at the heart of why such a young country as the United States has grown and developed so relatively quickly into the economic and militarial power that it has. The Middle East,the Far West and even Europe are centuries,even millennia older than the USA and they look to “us” as the benchmark for development and freedom of the individual. These liberties and possibilities were outlined in our Constitution,where the founding fathers agreed and put into law that these freedoms should be controlled by the people and not the government. That states have a soverinty consistant with the necessities and the indiginous elements with in. This is a HUGE country(I’ve been through 2/3 of it) and that which “works” in California doesn’t necessarily “work” in Florda or Wyoming or Maine or Texas or Montana or New York. Hell...within some states there are elements that are relative to the landscape of the state.

“I’m” concerned with the fading of the rights and privilages that made us a great country. I’m concerned with the lies and misinformation that is agenda driven to the benefit of those who want to gather to themselves at our expense and efforts. To take control of our lives and our money and funnel it to a select group of elitists (another set)who think that we “need” them to make decisions for us.

It is said, “The road to Hell is paved with good intentions”. I see that in the budget for infrastructure.

Much of what is at issue in the American economic landscape is the contrast between capitalism and, for lack of a better term, socialism.  Perhaps the following illustration will help to bring into focus the crux of the matter.

We all remember Enron, right?  Well, simply put, what they did was actually a common technique used in business.  They put into the future, or “deferred”, expenses that should have been recognized now.  Here’s an example: suppose you are making guitars but you can’t produce and sell them for 2 years because they are hand made.

In this case, the expenses over the 2 years will be “deferred” until the sale....thus you match expenses with sales and can now calculate your profit.  This is a correct use of “deferring” expenses.

However, this technique lends itself to abuse. Enron incorrectly deferred millions in the hopes that a better economy in the future would absorb and disguise those very expenses.  It didn’t work....the economy tanked and the scam was obvious.

You don’t notice a naked man crammed in a crowd of say 10,000 people, but if he is alone on the street, he is hard to miss!

This is exactly what the current administration is engaging in.  Its a type of shell game.....except in this case it is incalculably worse.  They are borrowing and printing money to create a large crowd so the naked man won’t be so obvious.

We are at fault.

We do not want to accept the consequences of our own mishandling of our affairs and resulting failures.  We want to push onto future generations the enormous cost of our folly.... and we have elected an administration which is willing to oblige.

Now lets get back to capitalism vs socialism.  In the case of Enron, we saw that it finally corrected itself.  This would hold true for banks, auto companies and all businesses that abuse the system.  Even to the point of bankrupcy.  Capitalism will correct itself, and limited regulation will help to that end.

Socialism will not be so kind.  It does not provide a mechanism for failure.  It will, under pressure from failure, begin to oppress and move toward fascism, individual rights vanishing as the trend progresses........history shows us this clearly and with brutal results consistently.  That is the nature of the beast!  Bloated government never gets rid of itself and there is no bankruptcy code to deal with it.

Socialism will not take responsibility.  We see the branded lefties on this site saying that Obama inherited this mess......Sorry, as a seated Senator he voted yes on nearly all spending bills and watched passively as it played out....check the record...and please do not quote some ridiculous liberal news source.

Blaming and discrediting opposing viewpoints will be a hallmark of its failure....just as it is now during this “ushering in” period.  As an example, you can see a failed attempt to discredit me, the messenger, in this very thread, which is clear evidence of this nefarious leftist technique.  I guess that is what the socialists refer to as the “fairness doctrine”.

More Orwellian “doublespeak”......get used to it!

This road we are embarking on leads only one way, folks....and it aint good!