Showing posts with label Historic rise in US Taxes. Show all posts
Showing posts with label Historic rise in US Taxes. Show all posts

Tuesday, January 18, 2011

The Great "Climate Change" 2011 Rip-Off ... Alan Caruba


The Great ‘Climate Change’ 2011 Taxpayer Rip-Off
By Alan Caruba

Unless I am seriously mistaken or misinformed, the rate of unemployment in the U.S. remains high and the foreclosure rate on homes is approaching the level of the Depression years. Two major bond rating companies, Moody’s and Standard and Poor’s just warned that, if the federal government doesn’t stop spending and borrowing, America’s Triple-A highest ranking will be down-graded.

Along with all the other things in the federal budget wish list for 2011 are millions to be spent on climate change.

It helps to understand how obscene this is if you pause to consider (1) there is not one damn thing anyone can do about climate change, (2) climate change has been researched and studied since the late 1980s, enough to fill an entire wing of the Congressional Library to hold all the reports, and (3) the only climate change Americans really need to know about is what the weather will be tomorrow.

With a tip of the hat to Climatequotes.com and the American Association for the Advancement of Science’s (AAAS) report on “research development, fiscal year 2011”, let me share just a few of the ways the Obama administration intends to squander your money.

The magic number is $2,481,000,000 and it represents specific amounts devoted to "climate change" research or other programs requested for the 2011 budgets by an alphabet soup of federal agencies that include the Environmental Protection Agency, NASA, Department of Energy (DOE), National Oceanic and Atmospheric Administration (NOAA), National Science Foundation (NSF), Department of the Interior (DOI), and the Department of Agriculture (DOA).

The figures cited all come from chapter 15 of the AAAS report and you can access it via Climatequotes.com

NOAA’s total budget request is for $5.6 billion, an increase of 17%. It intends to devote $437 million for climate research funding, an increase of $77 million over last year.

Over at the National Science Foundation (NSF), its budget of $7.4 billion (that’s a lot of science!) includes a request for $480 million for Atmospheric and Earth Sciences, $765.5 million for NSF’s Science, Engineering and Education for Sustainability program and $19 million for a joint program with DOE “to promote education in clean energy research. An additional $10 million would fund “Climate Change Education” in the nation’s schools. It’s not education, it’s indoctrination.

The Department of Energy which currently is projecting that permits for deepwater drilling in the Gulf of Mexico won’t be forthcoming until, maybe, June. DOE seems oblivious to the fact that the price of oil is set to hit $100 a barrel and higher costs will hit everyone driving anything using gasoline or diesel fuel. Fuel oil prices will rise and any business that uses oil or anything made with oil will be forced to raise its prices. In short, everything.

DOE, however, is in no hurry and, of course, the Obama administration is dead set against ANWR or off-shore exploration and extraction of the BILLIONS of barrels of crude oil projected to exist.

However, DOE is set to receive $28.4 billion in 2011 and that includes $4.6 billion for research and development in its Office of Science and $2.4 billion for energy research and development. Its Office of Biological and Environmental Research is devoted to atmospheric science, including “climate modeling”, which would be allocated $627 million. Last time I checked, oil, coal, and natural gas were not found in the “atmosphere”, but rather were extracted from deep within the Earth.

The entire global warming hoax was and is based on “climate modeling”, all of which consistently found that the Earth was warming at an alarming rate. Except that the Earth is NOT warming. It has been cooling since 1998. And DOE intends to waste $627 million on more modeling. It is worth noting that the most sophisticated models of the National Weather Bureau still cannot predict with any confidence what the weather—not the climate—will be next week.

The Environmental Protection Agency, gearing up to regulate all utilities that produce carbon dioxide and all other industries that do the same, has zero authorization to do so under the Clean Air Act. It is CO2 that is designated by the warmists as the chief culprit for the global warming that is NOT happening.
Despite this, EPA has requested $169 million “to reduce greenhouse gas emissions”, with $43.5 million in new funding for “regulatory efforts to reduce greenhouse gas emissions” through the Clean Air Act. And it wants $22 million for its Global Change Research Program. It is time to shut down this rogue agency before it totally destroys the economy.

Even the Department of Agriculture wants $159 million for “climate change research”, an increase of 42% and $179 million for renewable energy, to “help farmers.” Farmers are heavy users of fossil fuels to operate the machinery needed to till, plant, and harvest crops. They need reliable energy, not "renewable" energy.

The Recovery Act of 2009 has managed to blow more than $600 million on climate change research and billions on greenhouse gas mitigation.

This is just the tip of the ‘climate change’ rip-off in terms of billions wasted or soon to be wasted on “research” that can only be deemed an obscene diversion of taxpayer money that will not benefit a single taxpayer, generate any new jobs except for those in government agencies, and further bankrupt a bankrupted nation about to have its credit rating reduced.

The “scientists”, “regulators”, and “administrators” feasting off this federal largess should be handed a shovel to earn a living on one of those “shovel ready” projects we were told about.

Beyond that, if Congress was really intent on cutting back on spending, they could begin by defunding or shutting down the Environmental Protection Agency, the Department of Energy, and all the other federal grifters with their snouts rooting around in the climate change trough.

© Alan Caruba, 2011

Friday, July 02, 2010

Largest Tax Hikes in History to Swamp Americans in January 2011!


Largest Tax Hikes in History to Swamp Americans in January 2011!
A Commentary by J. D. Longstreet
*****************

Some weeks ago we warned there was an avalanche of taxes headed our way. Now comes a breakdown of what American families will be facing on January 1st, of 2011 courtesy of Americans for Tax Reform at http://www.atr.org//.

The article is tiled: “Six Months to Go Until The Largest Tax Hikes in History.” You will find it (HERE.).

The article by Ryan Ellis explains that the massive tax increase will strike more as a tsunami – in waves. Mr. Ellis says: “In just six months, the largest tax hikes in the history of America will take effect. They will hit families and small businesses in three great waves on January 1, 2011.”The first great wave will be: Expiration of 2001 and 2003 Tax Relief. The second great wave will be: Obamacare, and the third great wave will be: The Alternative Minimum Tax and Employer Tax Hikes.

Mr. Ellis goes on to say, in his excellent article, the following: “In 2001 and 2003, the GOP Congress enacted several tax cuts for investors, small business owners, and families. These will all expire on January 1, 2011.

So what will happen? Mr. Ellis explains: “Personal income tax rates will rise. The top income tax rate will rise from 35 to 39.6 percent (this is also the rate at which two-thirds of small business profits are taxed). The lowest rate will rise from 10 to 15 percent. All the rates in between will also rise. Itemized deductions and personal exemptions will again phase out, which has the same mathematical effect as higher marginal tax rates. The full list of marginal rate hikes is below:- The 10% bracket rises to an expanded 15%- The 25% bracket rises to 28%- The 28% bracket rises to 31%- The 33% bracket rises to 36%- The 35% bracket rises to 39.6%

According to Mr. Ellis article married Americans and American families will not escape, either. He explains there will be higher taxes on marriage and American families. He states: “The “marriage penalty” (narrower tax brackets for married couples) will return from the first dollar of income. The child tax credit will be cut in half from $1000 to $500 per child. The standard deduction will no longer be doubled for married couples relative to the single level. The dependent care and adoption tax credits will be cut.”

And guess what – the DEATH TAX will return! Mr. Ellis explains; “This year, there is no death tax. For those dying on or after January 1, 2011, there is a 55 percent top death tax rate on estates over $1 million. A person leaving behind two homes and a retirement account could easily pass along a death tax bill to their loved ones.

If you have made an effort to be frugal and save, you are in trouble from the tax man, as well: Ellis says there will be: “Higher tax rates on savers and investors. The capital gains tax will rise from 15 percent this year to 20 percent in 2011. The dividends tax will rise from 15 percent this year to 39.6 percent in 2011. These rates will rise another 3.8 percent in 2013.

Then comes the second wave. It will come as no surprise to those of us who tried to warn our fellow Americans that socialized medicine in America would cost the living daylights out of Americans. So here it comes. We now know, thanks to Mr. Ellis’ article there are over twenty new or higher taxes in Obamacare.

Several of these taxes will first go into effect on January 1, 2011. They include: “The “Medicine Cabinet Tax,” “The “Special Needs Kids Tax,” and “The HSA Withdrawal Tax Hike.”
(You REALLY need to read Mr. Ellis’ article (HERE.) for the startling details of these taxes.

Then comes the Third wave of taxes: “The Alternative Minimum Tax and Employer Tax Hikes.” Mr. Ellis explains: “When Americans prepare to file their tax returns in January of 2011, they’ll be in for a nasty surprise—the AMT won’t be held harmless, and many tax relief provisions will have expired. The major items include:”

The AMT will ensnare over 28 million families, up from 4 million last year.

Small business expensing will be slashed and 50% expensing will disappear.

Taxes will be raised on all types of businesses.

Tax Benefits for Education and Teaching Reduced.

Charitable Contributions from IRAs no longer allowed.

Again we urge you to read this article by Ryan Ellis (HERE.)

With the US economy literally teetering on the edge of collapse – what do you suppose will happen when this shake down of American citizens begins next year and they find they must face the fact that what many conservative commentators told them was going to happen has happened, and, too, they find themselves facing financial ruin. Desperation time will certainly be upon us. The reaction of a P.O’ed American citizenry will make the reaction of the people of Greece look like a Sunday school picnic!

America, we are in dangerous times. Desperate people are completely unpredictable. There is yet a short time to prepare for the coming anarchy in America.

First, we must get to the polls, in droves; this coming November and try to break the grasp the socialist/democrats have on our national and state governments. Even if we are successful -- we can still only hope to blunt the effects of the on rushing tsunami of governmental demands for your money to fuel an ever growing, entirely too powerful, central government that is sucking the life out of America.

J. D. Longstreet