Tuesday, May 5, 2026

I'm All For Improving Infrastructure But...

Repost From 2021

This is excessive to my way of thinking.


It's my sincere hope this infrastructure bill passed by the senate will be used to fix deteriorating structures. They need it a lot more then NYC's never ending excessive billion dollar projects. If NYC and the rest of the country can't maintain what we already have why are we forever shoveling more money into new ones?

Tuesday, April 28, 2026

Companies Don't Have To Bring Money Back From Overseas

Repost

It really makes me wonder how Americans are so easily duped. Who cares about corporate taxes. If rates are higher-- no problem. It's all quite simple really.

Suppose a American company's separately registered foreign subsidiary leaves a billion dollars overseas. It's American counterpart needs five hundred million dollars here in the states. All they have to do to bring it here is borrow the money from themselves in that country. There are several advantages (besides being able to move money home tax free).

First is why bother with seeking bank approvals. Their foreign enterprise is able to loan it to themselves at lower rates then banks domestically could regardless the risk. Thus shareholders are benefited by below market rates. Secondly repayment of the loan's interest (to themselves) enables them to deduct this from their taxes here in the United States. If taxes go up all they need to is increase the interest rate they charge themselves. This scheme works whether a company has many shareholders or is wholly owned by a wealthy individual. Thus there is a incentive to continue leaving some of their loot in other countries.

The only reason any company might move their money back here is if the tax rates become higher overseas. What happens in the future remains to be seen. Some countries have already responded by lowering their corporate taxes to match ours. I wouldn't expect a huge surge suddenly to begin washing up on the shores of the U.S.

Wednesday, March 4, 2026

Like The IRS To Bill You?

Repost

The New York Times is asking, Would You Let the I.R.S. Prepare Your Taxes?


Why not?
We already get itemized bills for our phones, cable, hospital bills and a whole host of others. I'm warm to the idea as long as it's optional and not compulsory.

The IRS has all the information already. All we're doing to re-entering what the IRS already knows. The only thing we have a say in is how we wish to take advantage of the available reductions. In my case, like the vast majority of us, I end up taking the standard deductions anyway. It always has beat out those when I try itemizing everything. As such it turns out a waste of my time and the $76.30 I spent this year with the tax preparation software I used. Besides, if I make a error it could cost me a penalty.

Maybe this won't work for businesses so well, but I believe for most Americans having the IRS billing us would work out just fine.

As for the paranoid who walk among us who don't trust the IRS I'd ask this. Who do you trust more with all yours financial details. Some third party accountant, an online service or the government which is going to scrutinize and go over the filings anyway with all the information they already are privy to?

So yeah I kinda like the idea. I'd like Pennsylvania to do this as well.

Tuesday, February 3, 2026

55 Corporations Avoided $8.5 Billion In Federal Taxes

Repost From 2021

nypost.com
Dozens of America’s biggest companies paid no federal income taxes last year
"26 of them haven’t paid a penny in federal income tax in the three years since the Tax Cuts and Jobs Act reform bill was signed into law in 2017... In fact, 52 of those firms — including household names such as Nike, FedEx and Dish Network — ended up pocketing federal tax rebates worth a collective $3.5 billion"

Every time a Republican president gets into office (except Geo. H.W. Bush) the same thing happens. Ronald Reagan, tax cuts. Geo. W Bush, tax cuts. Trump, Tax cuts. Each promise these will more then make up for themselves. With GDP growth will come a influx of tax money. Yet as anyone can plainly see it never does.

Instead when the budget goes to pot it's up to Democrats try and bring the revenue back in. At this point Republicans then accuse Democrats of tax and spend. We've seen this time and again. Like riding on the same carousel round and round it never seems to get old. Republicans break the bank. Democrats fix it. Then Republicans break it again.. on and on it goes.

So here we are again. The federal budget is in a landslide. Republicans call for cuts mostly in social services and infrastructure.  Now the post office too. When this happens federal state funding is reduced. This in turn trickles down to local governments. Who then in turn increase their taxes on all of us.

Some may argue well if corporations are forced to pay higher taxes they will just increase their prices. True, but they can only do it on their customers. The wealthier will buy more from them. The poorer  less likely to do so (capitalism at work for raising revenue). States and cities on the other hand suffering lower federal funds will impose tax increases on all their citizens across the board rich or poor (socialistic taxation). 

Rather then increasing taxes directly on the wealthy do so more indirectly by closing the loopholes corporations get away with. Obviously the wealthy are going to spend a lot more money thus paying more in taxes on the larger amount of goods they buy then the average worker.

This avoids the age old argument in congress against taxing the wealthy. Perhaps making it less toxic in order to reach some sort bipartisan agreement that won't upset either of their voters as otherwise would. Although I'm quite certain it would be a call-to-arms for corporate lobbyists who'd be the main obstacle to overcome.

This leaves the money changers to be later dealt with. That's a much heftier lift best left to discuss another time.  

Friday, December 19, 2025

The Money Hole

Repost

Anyone who has been following this blog knows how much the 'National Debt' and this nation's 'Deficit' concerns me. I apologize for overlooking the other grave matter concerning "The Money Hole".

My thanks go out to the producers of "In The Know" for tackling this serious issue. What follows are the panelists heatedly focusing in on this important question.

Should we stop dumping money
in the "Money Hole" or not?
You Decide


Video Courtesy "The Onion"

Monday, December 15, 2025

Indexing Social Security: What You Need to Know!

Repost From 2013


On April 18, 2013 the 'Congressional Budget Office' (CBO) came out with a report entitled,
Using the Chained CPI to Index
Social Security, Other Federal Programs,
and the Tax Code for Inflation


The whole concept of 'chained CPI indexing' assumes that by reducing Social Security payments seniors will buy alternative cheaper items and still be able to afford basic needs. However seniors' needs are different then most other age groups. The chart below represents a comparison over the last 30 years between two methods of calculating the effects of 'Chained CPI indexing. The one doesn't factor in seniors requiring different expense then the rest of the younger population. The other does. About 30% of those over 62 years of age rely on Social Security for 90% of their income while presently 13% of us as a nation are 65 years or older. So this is a big deal.


Overlooked is the elephant in the room. Seniors spend almost three times more on out-of-pocket health costs. Health costs which have risen disproportionately faster then the rest of ordinary inflation.


Everyone should readily see that those relying on Social Security for most of their income will not be able to find cheaper alternatives for their current healthcare coverage . Compounding this problem for them are the increasing monthly costs for Medicare and the supplemental plans coupled with ever decreasing Medicare payments to doctors, hospitals, nursing facilities as well as for medications.

Below is a chart for all 3 CPI methods of calculating future Social Security payments courtesy of The AARP

The GREEN is what Obama & Congress have in mind
The BLUE is the CPI adjusted specifically for seniors The CBO report mentions
(The latter being something I haven't heard either one of them discuss)


Here's Another Thought. Most seniors spend every dime of their retirement income which puts it right back into the economy. It isn't like they are taking their Social Security check and investing it for sometime in the future. So giving them a couple of bucks more to live on isn't as though the money won't be spent to help keep the economy growing. On the other hand if you take out $339.8 billion in total from changes in the program over the next 10 years, that's $339,800,000,000 less seniors have to pump back into the economy.
* * *


Some Highlights From THE CBO REPORT
"The chained CPI grows more slowly than the traditional CPI does: an average of about 0.25 percentage points more slowly per year over the past decade. For example, if such a proposal took effect next year, Social Security benefits would be roughly $30 a month lower, on average, by 2023 than they would be under current law, representing a reduction of about 2 percent of average benefits

...The consumer price index reflects prices paid for the goods and services purchased by an average household, not by any specific individual or by the average person in certain age groups, income groups, or other categories. Therefore, most people experience price changes that are either higher or lower than reported in the CPI.... The possibility that the cost of living may grow at a different rate for the elderly than for the rest of the population is of particular concern in choosing a price index for Social Security COLAs because Social Security benefits are the main source of income for many older people....

... BLS computes an unofficial index that reflects the purchasing patterns of older people, called the experimental CPI for Americans 62 years of age and older (CPI-E). Since 1982 (the earliest date for which that index has been computed), annual inflation as measured by the CPI-E has been 0.2 percentage points higher, on average, than inflation as measured by the traditional CPI-U or the CPI-W.

... The longer-term difference between the growth rates of the CPI-E and CPI-U mainly reflects the fact that a larger percentage of spending by the elderly is for items whose prices rise especially quickly. In particular, compared with the overall population, the elderly devote a much larger percentage of their spending to medical care. That difference in spending patterns alone accounts for about half of the long-run difference between the CPI-E and the CPI-U.

... The CPI-E differs from the CPI-U only by using different percentage weights for the 211 categories of goods and services in the CPI market basket. For the CPI-E, BLS calculates those weights on the basis of the spending patterns of people ages 62 and older as observed in the Consumer Expenditure Survey, whereas for the CPI-U, BLS calculates expenditure weights on the basis of the spending patterns of all urban consumers in the survey.


Published on April 24, 2013

Thursday, December 11, 2025

No Cost Too Much To Keep Us Safe?

Repost

"The warship is the most expensive destroyer in the history of the Navy, costing about $4.4 billion.... the ship’s guns, reported to fire ammunition costing $800,000 a round."

A Matter Of Priorities
There's no way I wanna hear we can't afford Social Security or Medicare while we piss away this kind of money enabling defense contractors to get rich.

https://www.washingtonpost.com/news/morning-mix/wp/2016/11/08/the-navy-called-uss-zumwalt-a-warship-batman-would-drive-but-at-800000-per-round-its-ammo-is-too-pricey-to-fire/

Friday, November 14, 2025

Some Quick Thoughts I Have

Repost from 2017 (Redited)

*** FOX News and it's business channel constantly whine about the mainstream media. Here's a flash--they are part of mainstream media. They along with such well-known websites as Breitbart, National Review, HotAir, Red State, The Daily Caller Drudge Report among dozens of others. Same goes for the bloviators on conservative talk radio programs. The cast includes Limbaugh, Hannity, Ingraham, O'Reilly and Savage--to name a few. I don't know how much more mainstream any of them could get.

*** All we ever hear is how broke government is getting. It doesn't matter whether it's at the federal, state, county, school districts or local level--they all claim the same. Could the reason be the largest segment of taxpayers--the middle class--has experienced a steady decline in earnings year after year. Even more so when adjusted for inflation. In about every part of the country we are seeing a explosion in the number of warehouse and service jobs paying $11-$15 an hour. Gone are the vast numbers of well paying industrial jobs. We could debate all day why this is so--but it won't change the fact less pay means less revenue for government.

*** Unfunded mandates--When the government receives less revenue it comes up with all kinds of creative schemes. One of the ugliest are these unfunded mandates. To put it simply--when the government wants to do things it can't afford it forces someone else to come up with a way to pay for it. And if they don't--imposes fines. Agencies seeing their budgets cut come up with a all kinds of new unfunded mandates. Ones which require permits along with the accompanying payment of fees for them to offset their declining incomes..

*** Tax cuts--ain't no such beast. Currently the United States is trillions in the hole. I often said I can't afford any more tax breaks. No truer will it be with whatever scheme they come up with in Washington. Whatever they come up with you best believe it will amount to little more the rearranging the deck chairs on the 'Titanic'. 


Monday, September 15, 2025

Spending On Congressional Committees Out Of Whack

Repost From 2014

'USA Today' reports.. "According to a committee document provided by Democratic leader Nancy Pelosi's office, House Republicans want a $3.3 million budget for this year's operations of the 12-member select committee on the Benghazi attacks....

...By comparison, the House Committee on Veterans' Affairs — which has a roster of 25 lawmakers and about 27 staff members — spent $2.5 million in 2013 and has a $3 million budget for 2014. The Ethics Committee budget for 2014 was more than $3 million, with a staff of about 25 serving 10 lawmakers."



COMMENTRAY
First off I have no idea why it cost millions of dollars. Is tossing around nearly $9,000,000 on just three committees the most cost effective way of taking care of business in the U.S. Congress?

Secondly after all is said and done which outcome (like there ever will be one) will benefit taxpaying citizens the most?

I realize in today's world $9 million doesn't seem to go that far anymore However it seems to me it could be spent more wisely on just about anything other then a bunch of windbags sitting around hosting roasts and shamelessly pointing their own imperfect fingers at a bevy of witnesses unlucky enough to be subpoenaed by congress.



In almost every case witnesses called to testify are threatened and placed under intimidation. This by a bunch of jackals who's own backyards are likely to have more weeds in them then the ones they investigate.

If congress spent as much time doing things as they do talking about them we might actually get something done.

I'm all for 'check & balance', but with these committees taxpayers are getting more checks for them then balance dontcha' think?

Friday, August 15, 2025

Today's Workers Not Keeping Up With The Dead

Repost/Updated

We've been taught if we work really hard we all can become wealthy. Anyone who ain't--mustn't be working hard enough. Take for example... AP: FORBES: MICHAEL JACKSON TOP EARNING DEAD CELEBRITY WITH $75M--Two other singers join Jackson in the top five. Elvis Presley comes in fourth with $35 million and Bob Marley ranks fifth with $23 million.Who knows--after tax reform they may even do better next year.

Now that right there must have been some really busy bees last year. What an inspiration for the rest of us still around to try and work harder.

Whoever said the taxman couldn't still collect after you're dead hasn't been paying attention.

Wednesday, June 11, 2025

Why Government Is Broke & Taxes Are So High

Repost From 2015


From the local to state on up to the federal level it seems tax revenues are down and the average Joe Schmo seems to paying more now then ever. Every wonder why?

According to Bloomberg News U.S. Companies Are Stashing $2.1 Trillion Overseas to Avoid Taxes. Bloomberg list the top 299 companies avoiding taxes.

The simple answer seems to be lower the corporate tax rates. Question is how low would we have to go to compete with 3rd world countries? Is it even possible any tax rate would be low enough to lure any of this money back?

Another answer would be for consumers to avoid buying from these companies. That is easier said then done (if not impossible) when you look over the list.

Still there are others who advocate for smaller government. Most of these are the very same ones enabling corporations to become larger by supporting legislation so mega businesses can get away with this crap.


Until or unless we reign this in Joe Schmo can look forward to shouldering even more of the tax burden.

Tuesday, December 17, 2024

Let Me Bore You With The Federal Budget

Repost From June 2014: Although this is over 10 years ago the chart percentage figures are not too much diffrent from today. Federal spending is classified in two basic categories: mandatory and discretionary. About 61 percent of the federal budget is mandatory spending, 26 percent is discretionary spending, and the rest is interest payments on debt in 2024.


First the charts. Then I'll discuss what they show us...





The source of these charts can be found here..
at 'National Priorities" and also at another page on 'National Priorities' website



What we can quickly surmise is (1) the vast majority of discretionary spending is on the military (55%). (2) Even though the federal government receives 32% of it's revenue from Social Security and Medicare taxes it spends less then 5% in discretionary money on them. (3) If we eliminated all the tax breaks the federal government wouldn't only have enough to cover the entire amount of discretionary spending, but even have a surplus left over!

I found it also interesting that individuals pay into Social Security/Medicare taxes that amount to almost 3x's as much as corporations pay in taxes (32% versus 13%). Plus an additional 46% in payroll income taxes. In other words workers are paying 78% of the load. The vast majority of discretionary goes, in many cases, back into the private investors for education, housing, transportation and military contract providers.

My Overall View Of The Entire Budget
The main beef I have is the way we spend taxpaying worker's money for our military. Over the entire federal budget we are projected to spend around $3.9 trillion in 2015. Of the entire budget 16% will be spent on our military. Much of it to protect foreign nations. Shouldn't we compensated? Each of us have to pay taxes towards our local and state police. Shouldn't foreign nations as well?

While Americans receive back directly about 60% in the form of Medicare, Social Security and in unemployment benefits, this still leaves over $1.16 trillion being spent elsewhere. Take into account the $1.24 trillion in tax breaks and that's a sizable chunk of change ($2.4 trillion) we have to work with.

Does it make for sound reasoning to allow almost 1/3rd of our annual budget be in the form of tax breaks?

Provide military protections costing us over a half a trillion $'s w/o being compensated by much of it going to protect foreign nations?

Should 32% of the annual revenue derived from Social Security & Medicare go towards funding the government or instead be set aside and not factored in the budget?

Since President Obama's 2015 budget has a deficit of $561 billion (3.1% of the U.S. Economy) why not take part of it from the $1.24 trillion in tax breaks?

Lord knows how many emergency spending bills are proposed & passed beyond the budget and how many of these contain hidden provisions?

We also have those off-the-books accounting methods used by the U.S Treasury. Also check out what the 'The Pew Research Center had to say back in October 2013 about that national debt-- "The debt is about equal to gross domestic product."

THE BOTTOMLINE IN ALL OF THIS
None of this means anything. It's just a giant game of bullshit. The only reason any of this continues to work is because of either peoples ambivalence towards it or indifference. So long as that's the case everything will be just fine.

Forget I even brought it up :-)

Monday, September 16, 2024

Keep Your Car Doors Locked Against Road Rats

Repost

Uploaded 11/01/2022

"Rats are roaming the streets of Pennsylvania...in ATVs.

One Of The Comments Left On This Video...
M Christiansen- My Niece had this happen. Her doors auto lock when the vehicle starts. She didn't slow down when one got in front of her and she clipped his back tire and sent it into another atv and flipped them both. She was ticketed and charged with reckless driving, but when she and her attorney got to court, the case was dismissed because as proof of her "bad" driving the dipshit deputy brought in his dash cam video showing for a full 3 minutes the atv's attempting to stop her and open her doors! Her attorney had the tape of the 911 call of my frantic niece begging for help and there was a deputy right behind them filming it. My niece said the judge was livid berating the deputy for not doing anything.

At this point every car should come equipped with a dash cam.

Tuesday, October 17, 2023

Tuerk's 2024 Allentown Budget Has A 6.9% Tax Increase

wfmz.com
Tuerk unveils 2024 Allentown budget with 6.9% tax increase
"The tax hike will generate about $2.6 million of revenue for the city's general fund and "will have a limited impact on the majority Allentown residents," according to the mayor.... The mayor also wants to spend more money on "celebrating the various cultures"

Some limited impact! I'm on Social Security. Celebrating culture. << THAT'S NOT YOUR JOB !!!



This guy can find more ways to waste money on social programs. These have nothing to do with providing city essential services.

Taxpayers at the federal and state levels are pouring bucketfuls of money already into this city. Apparently the $2 billion NIZ cash cow has done nothing for city taxpayers. A coupled million more dollars in state and federal grants hasn't either.

Talk about your incompetence.. this is madness!



UPDATE
11/04/2023: Allentown City Council approves budget with no tax increase for 2024