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John McCain Should Use SNL Video to Bash Congressional Democrats and Bush Over Subprime Loan/Fannie Mae Crisis

The Forbidden SNL Soros/Sandler Skit

First was the Obama spening and now here come the taxes beginning in 2011 over a course of ten years. Right back to the 1970’s and higher marginal rates with disincentives to work and produce.

On people making more than $250,000:

• $338 billion – Bush tax cuts expire
• $179 billlion – eliminate itemized deduction
• $118 billion – capital gains tax hike

Business Tax Increases:

• $17 billion – Reinstate Superfund taxes
• $24 billion – tax carried-interest as income
• $5 billion – codify “economic substance doctrine”
• $61 billion – repeal LIFO
• $210 billion – international enforcement, reform deferral, other tax reform
• $4 billion – information reporting for rental payments
• $5.3 billion – excise tax on Gulf of Mexico oil and gas
• $3.4 billion – repeal expensing of tangible drilling costs
• $62 million – repeal deduction for tertiary injectants
• $49 million – repeal passive loss exception for working interests in oil and natural gas properties
• $13 billion – repeal manufacturing tax deduction for oil and natural gas companies
• $1 billion – increase to 7 years geological and geophysical amortization period for independent producers
• $882 million – eliminate advanced earned income tax credit

Hope and change?

Probably not so much for two income households and businesses – particularly in oil and gas.

Looks like hope for more taxes in the near future with massively increased government spending in the short run.

Now, can you say Obama is a typical tax and spend liberal?

YES YOU CAN!

In the GOP Coup that replaced Senator Dave Cogdill as California State Senate Minority Leader, it was little noticed that Flap’s own State Senator, Tony Strickland, ran for and lost the postion to Senator Dennis Hollingsworth. However, Strickland received the runner-up position: Assistant Senate Minority Leader.

So, what does the job entail?

As many as four races are on the target list for 2010 — the seats currently held by Republican Jeff Denham, and the ones being vacated by Democrats Dean Florez, Denise Ducheny. Republicans will also target Orange County Democrat Lou Correa.

The job of raising money and focusing caucus attention on those races will fall largely to the new Assistant Majority Leader, Tony Strickland, who ran against Hollingsworth in the race to replace Cogdill.

Strickland has his job cut out for him. But, watch Strickland’s integration of new media strategies, demographics and technology to bring these four seats into viable GOP contests.