GraniteGrok

Government Approved Edukashun

Former State Representative Paul Mirski sends the following warning:

RE: Proposed [Public Education] Amendment to CACR 34

“The legislature shall have the responsibility to define the content of an adequate education to prepare the student to become a productive and contributing citizen and to determine the total statewide cost of providing that education to all public school students. The legislature shall have the authority and responsibility to raise the funds that total the statewide cost of this education……”
 

Only a budding despot could love the language the legislature has wrought. No sensible citizen of New Hampshire should let themselves be duped into voting for such misguided social policy nor be duped into giving up rights having to do with conscience, freedom of thought, action and association.

Posted by Doug at 7:19 AM | Permalink | Comments (0) | TrackBacks (0)

As we discussed on Meet The New Press today with Tim Cameron, Senator McCain has opined that in light of the high gas prices, a moratorium on the collection of Federal gas taxes (currently about 18 cents a gallon, 24 cents on diesel) would be a great idea.

Gas prices are at an all time high and are rapidly approaching $4.00 per gallon. There has never been a better time to cut the gas tax and give relief to hard working families in New Hampshire.

Following Senator John McCain’s proposal to suspend the Federal Gas Tax, New Hampshire’s leaders should follow suit and suspend the New Hampshire Gas Tax for the summer months of June, July and August.

The combined Federal and State gas tax cut will save taxpayers nearly 37 cents per gallon at a time when it is needed most!

If our leaders in Washington and in New Hampshire want to make a REAL difference to middle and low-income taxpayers, they should move immediately to suspend the gas tax.

My take? Absolutely!  Given that the Federal government has a $3 trillion budget (and has been shown to mismanage its highway monies (or does not hold the States accountable to spend that money on....well...highways instead of other things), why not?  As in the case of Minnesota where the bridge collapsed in the Twin Cities, it often is not a lack of money, it was a lack of proper priorities. Or the over-willingness of politicians to spend like there's no tomorrow.

And why not here in NH as well?  After all, the State government has shown itself to willingly mismanage the State Highway funds to pay for things OTHER than highways, why shouldn't citizens finally start to stand up and say

"You may have it when you spend it wisely; you have not done so,
so get yer frickin' hands out of my wallet!"

Go sign it! 

Posted by Skip at 6:42 PM | Permalink | Comments (1) | TrackBacks (0)

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Posted by Doug at 7:45 AM | Permalink | Comments (0) | TrackBacks (1)

"I believe that you collect more money from lower taxes than you collect from higher taxes. I believe in supply-side tax policies. I believe in it because I saw it work, and I put a lot on the line in order to make it work."

Posted by Doug at 1:02 PM | Permalink | Comments (2) | TrackBacks (0)

THE PRESIDENT: Good morning. Election Day is around the corner, and one of the biggest issues at stake in this campaign is your taxes. Here is my philosophy: I believe that our economy grows and the American Dream reaches more citizens when you keep more of what you earn. With more money in your pocket, it is easier for families to afford a good education, it is easier for young people to afford the down payment on a home of their own, and it's easier for small business owners to go out and invest and create jobs.

So my administration and the Republican Congress enacted the largest tax relief since Ronald Reagan was in the White House. We cut taxes for every American who pays income taxes. We doubled the child tax credit. We reduced the marriage penalty. We cut taxes on small business. We cut taxes on capital gains and dividends to promote investment and jobs. And to reward family businesses and farmers for a lifetime of hard work and savings, we put the death tax on the path to extinction.

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Now the results of these tax cuts are in. The tax cuts we passed have left more than a trillion dollars in the hands of American workers, families, and small businesses, and you have used that money to fuel a strong and growing economy. Last year, our economy grew faster than any other major industrialized nation. This week, we learned that our economy grew by 1.6 percent during the third quarter of this year. As we expected, this rate is slower than in previous quarters. Yet the evidence still points to a vibrant economy that is providing more jobs and better wages for our workers and helping reduce the federal deficit.

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So my administration and the Republican Congress enacted the largest tax relief since Ronald Reagan was in the White House. We cut taxes for every American who pays income taxes. We doubled the child tax credit. We reduced the marriage penalty. We cut taxes on small business. We cut taxes on capital gains and dividends to promote investment and jobs. And to reward family businesses and farmers for a lifetime of hard work and savings, we put the death tax on the path to extinction.

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Now the results of these tax cuts are in. The tax cuts we passed have left more than a trillion dollars in the hands of American workers, families, and small businesses, and you have used that money to fuel a strong and growing economy. Last year, our economy grew faster than any other major industrialized nation. This week, we learned that our economy grew by 1.6 percent during the third quarter of this year. As we expected, this rate is slower than in previous quarters. Yet the evidence still points to a vibrant economy that is providing more jobs and better wages for our workers and helping reduce the federal deficit.

Continue reading "The Forgotten Story: It's the Economy, Stupid!" »

Posted by Doug at 9:04 AM | Permalink | Comments (0) | TrackBacks (0)

Rangel: Tax Increases on the Table if Democrats Win
Possible tax increases on the horizon

Washington, DC- Congress Daily reported today that the Democratic Party’s ranking member on the House Ways and Means Committee, Rep. Rangel (D) of New York, all but guaranteed tax increases in the Democratic agenda if they take back the house in November. When approached about whether tax increases across the income spectrum would be considered, Rep. Rangel responded, "No question about it."

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Rangel worries about balancing the budget but his only solution involves tax increases? In August, ATR released its annual Cost of Government Day (COGD) report. The report found federal government spending at near historic levels. “Increasing the taxes on the American taxpayer will not balance the budget but only give spend-crazed politicians like Charlie Rangel more money to spend,” said Grover Norquist, president of Americans for Tax Reform.

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Conservatives made progress today in the fight against wasteful spending with the President’s signing of new legislation that will create a new online database detailing all federal government grants and contracts. Citizens will be able to use this database  and its Google-like search function to hold their politicians accountable for overall government spending.

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“Tax increases are always a negative influence on the economy.  Rep. Rangel should stop focusing on the easy way out, which always includes tax increases and shifting even more of the burden to the American taxpayer,” continued Mr. Norquist.

Americans for Tax Reform is a non-partisan coalition of taxpayers and taxpayer groups who oppose any and all federal and state tax increases. 

Posted by Doug at 11:02 AM | Permalink | Comments (0) | TrackBacks (0)

An unexpectedly steep rise in tax revenues from corporations and the wealthy is driving down the projected budget deficit this year, even though spending has climbed sharply because of the war in Iraq and the cost of hurricane relief. On Tuesday, White House officials are expected to announce that the tax receipts will be about $250 billion above last year's levels and that the deficit will be about $100 billion less than what they projected six months ago. The rising tide in tax payments has been building for months, but the increased scale is surprising even seasoned budget analysts and making it easier for both the administration and Congress to finesse the big run-up in spending over the past year. Tax revenues are climbing twice as fast as the administration predicted in February, so fast that the budget deficit could actually decline this year.

Posted by Doug at 8:30 PM | Permalink | Comments (0) | TrackBacks (0)

In our local area, there are some Letter to the Editor types, on the Left hand side of the divide, who keep harping on about "the tax cuts" for the wealthy, insinuating that the tax cuts are responble for the on-going annual deficit.  So, I figured I'd look into it.

I actually agree with some of them, that the yearly deficit is large, and the actual debt is still growing.  However, when put into historical context, both have been far worse than what they are right now.  As per usual, there is the "however" part, and this holds for the effects of the tax cuts.

They keep forgetting: while the Executive branch proposes, it is Congress that spends.  And spend they have, especially the formerly frugal-sounding Republicans.  This Conservative is beside himself over the profligate manners of the Party that used to stand for smaller government.

However, back to the tax cuts, and to show that these folks are dead wrong.  Just as for Presidents Kennedy and Reagan, implementing President Bush's tax cuts has vastly raised federal revenues due to the effects on the economy (and state revenues have increased as well).  Details from the US Treasury (www.fms.treas.gov/mts/index.html) shows the following federal revenues (in trillions of dollars):

                                                              Lower Revenue

                          Year            Revenue      Months
 

                           1999          $1.857

                           2000           $2.042              

                           2001           $1.994            8

                           2002           $1.814            9

                           2003           $1.795            7

                           2004           $1.926

                           2005            $2.197
 

Where "Lower Revenue Months" stand for the number of months in that year where monthly revenues were less than the preceeding year.  Notice the drop in incoming funds right after the Internet Bubble burst, followed by the attach of Sept. 11.  However, the effects of the tax cuts started to take effect in 2003; that year, April was the last month where revenues were less than in the preceeding year.  Down at the beginning of President Bush's term, rebounding after the tax cuts made a difference.

Thus, 2004 had overall revenues 7.27% than 2003; 2005 was 14.07% better than 2004.  For the first three months of 2006, revenues are up 12.3% over those of 2005.

No, the problem is not the tax cuts.  In fact, the rich are paying more in taxes, in absolute dollars and as a percentage, than ever before.  For 2003 (last available numbers from the IRS), the top 5% of income earners pay 54.36% 34.36% of all income taxes, the top 10% pay 65.84%, and the top 50% pay 96.54%.

In other words, the bottom 50% of wage earners pay just 3.46%. 

Tax cuts?  Hardly.  Rather, the question should not be "should we roll back the tax cuts" (which actually means, "let's raise taxes!!" but who is paying their fair share?  My take is that this lack of balance it is not good for society for a few to be paying for the majority - everyone should have some "skinny" in the game. 

It is evident that once again, the tax cuts have stimulated the economy (as designed) and that the federal government has been the beneficiary of it.  Now, if we could only get the spending side back in balance..... 

Posted by Skip at 12:46 PM | Permalink