The Way I See ItBy cj pollickCrist Removes Pro-Life From His Campaign Web Site - Newsmax is reporting that Gov. Charlie Crist has removed pro-life information from his campaign website. This recent move by Crist to hide his once pro-life positions was no surprise to conservative voters across Florida. Crist clearly has left the Republican Party and conservative/moderate voters as he continues his drift to supporting liberal political positions. Crist vetoed the pro-life abortion law passed by the Florida legislature. Recent polls show Crist and GOP candidate Marco Rubio tied at 37% while Democrat candidate Meek is holding at about 17%. It's The Economy - On June 6, the Wall Street Journal published an article written by Arthur Laffer regarding Tax Hikes and the 2011 Economic Collapse. Mr. Laffer predicts, in his well-written article, why there will be a crash in tax receipts coupled with higher deficits and higher unemployment (beginning after January, 2011.) Mr. Laffer states that, "On or about January, 1, 2011, federal, state and local tax rates are scheduled to rise sharply. Bush's tax cuts expire on that date, meaning that the highest federal personal income tax rate will go to 39.6% from 35%, the highest federal dividend rate pops up to 39.6% from 15%, the capital gains tax rate to 20% from 15%, and the estate tax to 55% from zero. Lots and lots of other changes will also occur. Payroll taxes will rise in 2013 and the Alternative Minimum Tax (AMT) will be digging deeper into middle-income taxpayers. There is the celebrated tax increase on Cadillac health plans…and state and local taxes will increase next year everywhere." "Now, if people know that tax rates will be higher next year than they are this year, what will those people do this year?" asks Laffer. "They will shift income and production into this year to the extent possible. As a result, income this year has already been inflated above where it otherwise should be and next year, 2011, income will be lower." Laffer predicts, "When we pass the tax boundary of January, 1, 2011, my best guess is that the train goes off the tracks and we get our worst nightmare of a severer 'double dip' recession." President Obama's tax plan will result in the reverse of what President Ronald Reagan did in 1981. Reagan waited two years before tax cuts would take effect. The result, states Laffer, "was a deferred economic activity for two years until the tax breaks would take effect (GDP was flat.)" Obama's tax plan would do the opposite, people will place as much income and productivity into 2010 as possible while trying to avoid higher tax increases in 2011 (resulting in lower growth and a falling stock market.) Laffer also explained why many people would examine Roth IRA's in favor of Roth favorable retirement tax benefits versus "taxable" IRA, Keogh, 401 (k), etc. Latter says, "This conversion seems like a no-brainer." Thus, it makes many economists wonder why the Obama administration is planning to increase taxes during a terrible national recession that might become a "double dip" recession that could last for years. Jobs? Interestingly, the only jobs being created by Washington are government/union jobs. Is this the change Barack Obama and Joe Bidden promised to bring to America? A Bit Of Perspective - In 1984 America's Union Carbide Corp. was responsible, according to UK news sources, for a gas explosion at Bhopal in India. Over 20,000 Indians died and many thousands of people developed health problems due to the gas explosion. Chief Executive of Union Carbide, Warren Anderson, calculably left India and never returned. The enormous catastrophe did not receive much publicity, except in the early days of the accident. BP Oil is under enormous scrutiny due to its part in what is being explained as "the worst oil spill in history." Yes, BP Oil should be confronted with all issues related to the Gulf oil spill and costs to satisfy each and every claimant. BP Oil is under the microscope. However, every oil and gas company should be reviewed to examine safety and oil spill insurance coverage. For example, BP Oil may not adversely affect reinsurance costs due to the manner in which it bought reinsurance coverage. BP has an insurance subsidiary that writes the oil well insurance (and purchases excess reinsurance coverage above its expected claim retention.) Coverage relates to the oil well. BP Oil may need to cover other claims by a form of "self-insurance." Thus, it makes one wonder if there was enough insurance coverage for ancillary claim liabilities all along the Gulf coast (clean-up, loss of income for businesses, etc.) The oil spill will cost BP Oil billions. On the other hand, many of these topics were not mentioned during the Union Carbide gas explosion in 1984 (although costly to Union Carbide, nonetheless.) How are the Brits taking President Obama's rhetoric towards BP? Lord Tebbit, a former trade and industry secretary, suggested, "the US President was attacking BP to distract from his administration's impotence in the face of the disaster." Lord Tebbit believes the President is covering US government lax oversight of Gulf oil drilling by casting all blame to the head of BP Oil. Bottom line? The oil spill has reached the highest level of politics in Britain and the US. Britain does not want to severely hurt one of its large multi-national oil corporations while US leaders are placing full blame on BP plus all current and future damages. (Which could result in the demise of BP Oil.) Of course, what makes many people upset is why the US government did not accept help in clean-up efforts from other countries that have oil salvage ships, etc., from day one. Clearly our government has a role to play in delayed clean-up operations. For example, US environmental firms cried foul play when clean-up companies wanted to bring in sand and other oil barriers to protect inlets and estuaries in Louisiana. Euthanasia a la Belgium - A new study of Belgium's euthanasia system show almost half of all patients intentionally killed by doctors did not explicitly request their lives to be ended. The Medicaid Bailout - $25 billion of the President's latest spending spree is set to bailout state Medicaid programs. This would be the fourth time this decade that Congress has bailed-out state Medicaid programs. The cycle is all too familiar. Between 1990 and 2007, Medicaid spending more than quadrupled from $69 billion to $316 billion. Because of these constant bailouts, states have avoided dealing with their mismanagement of the program. More money from Washington will guarantee one thing: States will continue to spend far in excess of what they can afford and Congress will treat the federal taxpayers like an ATM machine to cover the shortfalls. Obama Says We Need To Give More Government Funds/Stimulus - Printing government money has never been a problem for Barack Obama, he has approved printing government money to send as "stimulus" checks now over a trillion US taxpayer dollars. The president's latest request for more printed money would send our nation's debt over two trillion dollars. According to the president, if more money is not sent to state and county governments, local governments would be forced to cut government spending in areas such as police, firemen, teachers and government employees. Thus, President Obama wants Congress to approve another stimulus bill of several hundred billions of dollars to be sent out as soon as possible. What is perhaps surprising in the decision to substantially increase our nation's debt is encouraging economic numbers being reported by Wall Street. Is this federal stimulus expenditure necessary, or is it merely a Washington political move to support large unions that supported Obama's candidacy? BIG 12 Remains - Even though Colorado and Nebraska have left the BIG 12 Conference for greener pastures, Texas, Texas A&M, Kansas, Oklahoma, etc., voted to remain members of the BIG 12. Thus, forget Texas going to the PAC 10 or any other conference at this time. The reason Texas stayed? Money. Television money. With the decision of Texas to remain a member of the BIG 12, the conference will remain a major player with other large conferences (such as the BIG 10.) There might be some other moves by a few teams such as Utah, but all-in-all, all of the hoopla over the demise of the BIG 12 is over, for now. Same for Notre Dame going to the BIG 10 or Texas A&M going to the SEC. All is relatively quiet with college conference alliances. "Life is not measured by the number of breaths we take, but by the moments that take our breath away." |