Flap’s Links and Comments for October 1st through October 2nd

Posted Posted in Pinboard Links

These are my links for October 1st through October 2nd:

  • Althouse: "Lots of photos of Perry having nothing whatsoever to do with this story, and not a single one of the rock. Well done, WP!" – Does this have anything to do with Rick Perry (who, asked about the rock, said the word is an "offensive name that has no place in the modern world")? Well, yes, if you're inclined to think that Perry's rural Texas background has bred something nasty into him:

    Perry has spoken often about how his upbringing in this sparsely populated farming community influenced his conservatism. He has rarely, if ever, discussed what it was like growing up amid segregation in an area where blacks were a tiny fraction of the population.

    So what's he hiding, eh?

    Reading on, we see that — according to Perry — Perry's father leased the property in 1983, and the first thing he did was paint over the word on the rock. And every time Perry saw the rock, it was painted over. But WaPo found 7 individuals who say they remember seeing the name on the rock during the time when Perry's father's name was on the lease. And:

    Longtime hunters, cowboys and ranchers said this particular place was known by that name as long as they could remember, and still is.

    “The cowboys, when they were gathering cattle, they’d say they’re going to the Matthews or Niggerhead or the Nail” pastures, said Bill Reed, a distributor for Coors beer in nearby Abilene who used to lease a hunting parcel adjacent to the Perrys’. “Those were all names. Nobody thought anything about it.”…

    “You know, Texas is a little different — you go where it’s comfortable,” Reed said. “. . . It would have been one thing if [the Perrys] had named it, but they didn’t. So, it’s basically a figure of speech as far as most people are concerned. No one thought anything about it.”

    No one thought anything about it. Those who are looking for a racial issue to play know how to jump on a phrase like that. Okay, then, let him who is without sin cast the first rock.

  • Reverend Wright is off limits, but a painted-over rock is page 1 at WaPo – There is no story behind the headline.

    The article itself reveals that the offensive name of the camp, painted on a rock near the entrance, was painted over by Perry’s father soon after they started hunting at the camp in the early 1980s.

    But WaPo made sure to put the offensive word near the top of the article, so that the charge would stick in readers’ memories. It’s not until later in the article that they state the facts. And even then, WaPo cites anonymous sources discounting the precise years in which it was painted over, but never the fact that it was painted over.

    A statement issued by the Perry campaign denies that his family ever owned the property, confirms that the rock was painted over in the early 1980s, and that the name officially was changed by the State of Texas in 1991.

    I have warned people about the upcoming election, and not to take much comfort in the current polling.

  • Economic protesters remain camped out at L.A. City Hall – After a daylong protest against what they view as inequities in economic policies, more than 100 protesters remained on the steps of Los Angeles City Hall on Saturday night, drumming, singing and discoursing on fiscal policy.

    The Occupy LA protest, which drew hundreds of people in peaceful waves all day Saturday, is modeled after a similar movement in New York that has been staging a sit-in on Wall Street for almost two weeks. Most participants said they hope to change or expose economic polices that benefit the richest 1% of Americans.

    Like their Manhattan counterparts, the Los Angeles protesters said they plan to camp out by City Hall indefinitely or until they draw enough attention to their cause. Other protests have been springing up around the world, including in Cleveland and Australia.

    Andrew Roberts, a 33-year-old father from Long Beach, said he was protesting to try to ensure a better future for his children. "The system that's in place clearly isn't working anymore." Roberts said. "If this carries on my children aren't going to have the same standard of living as I do, and that's sorry."

  • Poverty pervades the suburbs – Sep. 23, 2011 – A record 15.4 million suburban residents lived below the poverty line last year, up 11.5% from the year before, according to a Brookings Institution analysis of Census data released Thursday. That's one-third of the nation's poor.
    And their ranks are swelling fast, as jobs disappear and incomes decline amid the continued weak economy.
    Since 2000, the number of suburban poor has skyrocketed by 53%, battered by the two recessions that wiped out many manufacturing jobs early on, and low-wage construction and retail positions more recently.
    America's cities, meanwhile, had 12.7 million people in poverty last year, up about 5% from the year before and 23% since 2000. The remaining 18 million poor folks in the U.S. are roughly split between smaller metro areas and rural communities.
    "We think of poverty as a really urban or ultra-rural phenomenon, but it's not," said Elizabeth Kneebone, senior research associate at Brookings. "It's increasingly a suburban issue."
    Suburbia's population has boomed among all classes in recent decades as job growth shifted from central cities to their outskirts. Low-wage workers were needed to service this burgeoning number of residents and companies.
    Suburbia became home to the greatest concentration of impoverished residents by 2005, Kneebone said. That stemmed in part from the collapse of the manufacturing industry based outside Midwestern cities. The loss of those jobs contributed to pushing many into poverty.
  • Cities with the worst poverty rates – Reading had the highest percentage of residents living in poverty of any of the 555 U.S. cities with a population of 65,000 or more in 2010, according to the U.S. Census Bureau's American Community Survey. The margin of error means Reading's rank as first is not decisive. Also, these statistics are based on the survey, so populations differ from those given in the 2010 Census results. The survey is an estimate and not an exact count.

    Population belowMargin CityPopulationpoverty levelof error

    1. Reading
    Population: 86,087
    Population below poverty level: 35,517 (41.3%)
    Margin of error: +/- 4.9

    2. Flint, Mich.
    Population: 100,277
    Population below poverty level: 41,265 (41.2%)
    Margin of error: +/- 4.5

    3. Bloomington, Ind.
    Population: 67,122
    Population below poverty level: 26,782 (39.9%)
    Margin of error: +/- 4.0

    4. Albany, Ga.
    Population: 74,913
    Population below poverty level: 29,866 (39.9%)
    Margin of error: +/- 5.2

    5. Kalamazoo, Mich.
    Population: 67,452
    Population below poverty level: 26,201 (38.8%)
    Margin of error: +/- 4.9

    6. Brownsville, Texas
    Population: 173,186
    Population below poverty level: 66,844 (38.6%)
    Margin of error: +/- 3.4

    7. Gary, Ind.
    Population: 80,319
    Population below poverty level: 30,778 (38.3%)
    Margin of error: +/- 5.2

    8. Detroit, Mich.
    Population: 702,010
    Population below poverty level: 263,864 (37.6%)
    Margin of error: +/- 1.8

    9. College Station, Texas
    Population: 83,291
    Population below poverty level: 31,025 (37.2%)
    Margin of error: +/- 4.0

    10. Pharr, Texas
    Population: 70,380
    Population below poverty level: 26,140 (37.1%)
    Margin of error: +/- 6.8

  • One in Five New York City Residents Living in Poverty – Poverty grew nationwide last year, but the increase was even greater in New York City, the Census Bureau will report on Thursday, suggesting that New York was being particularly hard hit by the aftermath of the recession.
  • DEBUNKING OBAMA’S TAX DEMAGOGERY – When President Obama says that the rich don’t pay their share of taxes, he is lying, distorting, and demagoging.

    Here are the facts according to the IRS:

    • Those making more than $1 million pay 24% of income in taxes
    • Those making $200,000 to $300,000 pay 17.5%
    • Those making $100,000 to $125,000 pay 9.9%
    • Those making $50,000 to $60,000 pay 6.3%
    • Those making $20,000 to $30,000 pay 2.5%

    And what of millionaires who pay no taxes?

    There are 1,470 of them. They represent six-tenths of one percent of all those with million dollar incomes in the U.S. If we assume that they make an average income of $2 million a year each, taxing them at the same rate as other millionaires (24.4%) would yield $367 million, which would increase Treasury income tax revenues by 30 one-hundredths of one percent or one-third of one-tenth of one percent!

    Overall, the IRS reports that the revenues from the income tax are sharply skewed toward taxes on the rich:

    • The top 1% pays 39%
    • The top 5% pays 60%
    • The top 10% pays 72%
    • The bottom half pays 3%

    So who does Obama think he is kidding?

Flap’s Links and Comments for September 30th through October 1st

Posted 1 CommentPosted in Pinboard Links

These are my links for September 30th through October 1st:

  • Economic protesters gather at Los Angeles City Hall – Several hundred people marched on Los Angeles City Hall on Saturday to protest the nation's economic climate and encourage political involvement.

    The event was organized by a group called Occupy LA, which models itself after the "leaderless resistance movement" Occupy Wall Street. The New York group has been holding a sit-in near Manhattan's financial district.  

    The Los Angeles protesters met in Pershing Square Saturday morning before walking to City Hall, momentarily causing minor traffic delays along Broadway. The event has drawn honks from passing motorists and no arrests.

    ======

    European style austerity protests from the LEFT are just starting…

  • California and Bust – The smart money says the U.S. economy will splinter, with some states thriving, some states not, and all eyes are on California as the nightmare scenario. After a hair-raising visit with former governor Arnold Schwarzenegger, who explains why the Golden State has cratered, Michael Lewis goes where the buck literally stops—the local level, where the likes of San Jose mayor Chuck Reed and Vallejo ?re chief Paige Meyer are trying to avert even worse catastrophes and rethink what it means to be a society.
  • Poverty rate: Poor choices in Baltimore – Nevertheless, as Charles Murray pointed out in his landmark book "Losing Ground" (1984), even if all transfers were included as income and brought many people above the poverty thresholds, "latent poverty" would remain. That is, if welfare payments were taken away, people would return to poverty. Welfare alone cannot create wealth. Economic growth is the only sure way to reduce dependence and poverty.

    Just look at China. Since 1978, when it began its march toward the market, China has achieved the world's highest sustained rate of economic growth and allowed several hundred million people to lift themselves out of absolute poverty.

    Counting noncash benefits of those living in poverty in Baltimore would reduce "poverty" but not free people from welfare. A huge underclass has captured politicians for their cause of maintaining and increasing transfers rather than limiting the size and scope of government to make people more responsible and foster economic growth.

    No one could say that the poor in Baltimore today are less well-off materially than 50 or 100 years ago. Indeed, if one looks at personal consumption expenditures — a better measure of one's living standard than pre-tax money income — one finds that official figures significantly overstate the extent of poverty.

    Data from the U.S. Bureau of Labor Statistics show that in 2009, consumer expenditures for the lowest fifth of income earners were more than twice as high as before-tax income (which includes cash transfers and food stamps). Average annual consumption expenditures were $21,611 for the lowest quintile, while income was $9,846.

    This disparity is due to underreporting of income, outside financial assistance, loans and other factors. If poverty is better measured by one's consumption rather than income, then Baltimore's 25 percent poverty rate is misleading.

    Most "poor" households now have a TV, air conditioning, enough food and medical care. Many have Internet access and a cell phone (subsidized by the federal government). What they don't have is a safe environment, two parents and choice in education.

  • @Flap Twitter Updates for 2011-10-01 | Flap’s Blog – FullosseousFlap’s Dental Blog – @Flap Twitter Updates for 2011-10-01 #tcot #catcot
  • Michael Lewis: California and Bust | Flap’s Blog – FullosseousFlap’s Dental Blog – An excellent read about Arnold and California's economic and governance problems:
  • t.co / Twitter – RT @FHQ: Final Presidential Primary Calendar Will Not Be Set Until After October 22: Nevada is the new Florida.
    Now that … …
  • CA-30: GOP Join the Clash of the Titans Rep Howard Berman Vs. Rep. Brad Sherman » Flap’s California Blog – California congressional races are already starting to heat up….
    :
  • Poll Watch: Two-thirds of Californians Support the Death Penalty » Flap’s California Blog – No Justice YET for Terri Lynn Winchell. Come on California enforce the law!
    :
  • Flap’s Dentistry Blog: Dental Patient Murders Dentist Over Treatment Dispute – Sometimes MORE customer service is better than less….:
  • President 2012 Poll Watch: Romney 44% Vs. Obama 42% and Obama 44% Vs. Christie 43% | Flap’s Blog – FullosseousFlap’s Dental Blog – Not a bad first poll for Governor Christie but is the GOP ready for another moderate?
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  • Dilbert September 29, 2011 – Talk to the Hand » Flap’s California Blog – Dilbert September 29, 2011 – Talk to the Hand
  • Day By Day September 30, 2011 – Brave Sir Robbin’ | Flap’s Blog – FullosseousFlap’s Dental Blog – Chris Muir's comment on Obama's "Spreading the Wealth Around"……:
  • Flap’s Links and Comments for September 29th through September 30th | Flap’s Blog – FullosseousFlap’s Dental Blog – Flap’s Links and Comments for September 29th through September 30th #tcot #catcot

Why the GOP Should NOT Compromise with Obama and the Democrats Over Tax Rates

Posted Posted in economics, GOP, Taxes

Why?

Because it is bad for the economy and job creation.

The Obama administration and members of Congress should study the record on how the economy reacts to changes in the tax code. The president’s economic team has launched a three-pronged attack on capital: They are attacking the income group that is the most responsible for capital formation and jobs in the private sector, and then attacking the investment returns on capital formation in the form of dividends and capital gains. The out-year projections on revenues from these tax increases will prove to be phantom.

Republicans should not be complicit in a bad “compromise” plan in order to save Obama and the Democrat’s collective ass. Rather to let the Bush tax rates expire, re-enact them in January and let Obama take responsibility in vetoing lower marginal tax rates – if he dare do so.

Obama Scrambles on Economy – Now Promises 600,000 Jobs

Posted 10 CommentsPosted in Barack Obama, economics

President Barack Obama, seen here on June 07, announced Monday a boost to economic stimulus spending over the next three months in a bid to save or create 600,000 jobs through summer youth programs, schools and public works

With the economy continuing to falter and unemployment at 25 year highs, President Obama today promises the creation of 600,000 jobs this summer.
President Barack Obama promised Monday to deliver more than 600,000 jobs through his $787 billion stimulus plan this summer, with federal agencies pumping billions into public works projects, schools and summer youth programs.

Obama is ramping up his stimulus program this week even as his advisers are ramping down expectations about when the spending plan will effect a continuing rise in the nation’s unemployment. (See pictures of the global financial crisis.)

Many of the stimulus plans that Obama announced Monday already were in the works, including hundreds of maintenance projects at military bases, about 1,600 state road and airport improvements, and federal money states budgeted for 135,000 teachers, principals and school support staff.

The administration had always viewed the summer as a peak for stimulus spending, as better weather permitted more public works construction and federal agencies had processed requests from states and others.
But Obama now promises an accelerated pace of federal spending over the next few months to boost the economy and produce jobs.

Obama has NO clue abut the role of government and the economy. Massive government spending and deficits will NOT spur the priovate economy and will lead to inflation and slow economic growth.

American business is afraid to act or invest capital – even if they have it. They know that higher taxes are coming to pay for Obama’s massive governmental intrusion into the economy and they will have nothing of it.

The economic stimulus bill was nothing about spurring on the economy. It was all about paying off Obama’s political constituencies.

If the President had been concerned about stimulating the economy, why didn’t he adopt the GOP suggestion of suspending the payroll tax and deliver real relief for taxpayers.

Now, he hits the campaign trail to what?

Spin his failed economic policies, no doubt.


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Poll Watch: 85 Per Cent Worry About Inflation, 34 Per Cent Expect Interest Rates to Rise

Posted 1 CommentPosted in economics, Inflation, Jimmy Carter, Polling, Ronald Reagan
Effects Of Inflation

Most Americans know inflation is right around the corner with the massive government spending plans of President Obama and the congressional Democrats.

Eighty-five percent (85%) of Americans say they are concerned about the possibility of inflation in the current economy, with 55% Very Concerned, according to a new Rasmussen Reports national telephone survey.

Just 11% say they are not very or not at all concerned about the prospect of rising prices. These numbers are identical to findings last August, despite the high level of government spending President Obama has announced in recent months.

Credit remains tight in the country, and the government plans to print more money. Both are generally considered key factors that lead to inflation. Federal Reserve Chairman Ben Bernanke said in a speech today, however, that he is confident the Fed can prevent inflation from happening.

Eighty-four percent (84%) of Americans say they are paying more for groceries now than they were a year ago, and 66% expect to pay even more 12 months from now.

The Federal Reserve has given no indication that it intends to raise interest rates to combat the possibility of inflation, but 34% of Americans think they will be paying higher interest rates a year from now. Twelve percent (12%) say interest rates will be lower, and 45% say there will be no change.

Forty-three percent (43%) also say there has been no change from a year ago in the interest rates they now pay. Twenty-nine percent (29%) say they pay more now, while 25% say they are paying less.

It is not a matter of IF but WHEN inflation hits. And, if the American economy is hit with a doubble wammy of low economic growth and inflation, then we have Jimmy Carter type stagflation.

Remember what happened the last time, too?

Republican candidate Ronald Reagan replaced one term President Carter.


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Obama Ready To Budget – Here Come the Tax Increases

Posted 3 CommentsPosted in Barack Obama, economics, Jimmy Carter
obama-budget

It was just a matter of time.

President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.

In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation’s economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.

Sounds like an economic prescription of the Jimmy Carter years – overregulation, taxation and more domestic, wasteful spending.

America knows the result of these policies – inflation and slow/negligible economic growth.

Wasn’t it called STAGFLATION?