atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#3045: I think we're missing a vital point with Obama's "Christmas Tree Tax"

I've read the story several places but it wasn't until I read The Anchoress that it clicked: this is an illegal tax.

Why? Because only the House of Representatives has the power to initiate tax increases. By the Constitution of the United States, all budget-related bills must originate in the House of Representatives, and that includes the imposition of taxes. Especially the creation of new ones.

But of course, no one cares.

Implementation of the tax has now been "delayed" because someone realized that "Obama is taxing Christmas trees!" is not going to help him win re-election next year.

* * *

Actually, I do want to "gut" education. In the video at that link, Obama is talking trash--the GOP and the Democrat party differ only on the rate of increase of government spending--but I am saying here that I would like to do exactly what Obama says. I want the federal Department of Education to disappear. Nothing would please me more than to get rid of the entire concept of federal funding and control of education in this country.

Look: the United States is spending a shitton of money it doesn't have. We don't have the money to spend on things like the vast federal education machine. Control and funding of education should--must--be returned entirely to the local level.

This would, of course, have the effect of totally gutting the teachers' unions, too. Win-win, IMHO.

* * *

The DNC, as always, wants it both ways. They want to be seen as for the "little guy" but at the same time they are doing their damnedest to make sure that most of their work is done by Big Labor.

* * *

Incidentally, now may be a good time to remind everyone that in the United States nearly all poverty is relative.
Being poor in the U.S. looks pretty damned good to the vast majority of the world's population (as is self-evident by the issues along our southern border). And the middle is downright rich by comparison. The self-anointed 99% would do well to get over themselves.
One of the Occupati had a $5,500 laptop stolen from him.

...why do you bring a $5,500 laptop to a place where you cannot lock it up and then not keep your eye on it every damn second?

No, I'll go one better: WHAT KIND OF IDIOT SPENDS $5,500 ON A FREAKIN' COMPUTER THESE DAYS? For $5,500 the goddamned thing better run the HAL operating system, give epic blowjobs, dispense drinks, and never need recharging. Shit!

I play WoW on a $600 desktop, upgraded with a $100 video card, and it's fast. For $5,500 I could build a computer that's twice as fast AND HAVE ENOUGH MONEY LEFT OVER TO GO BUY A FREAKIN' USED CAR!

A good used car!

Shit!

* * *

DOOM!

*

Greece is screwed.
The situation today is worse than ever. Business has stopped

The world does not appreciate the extent of social deterioration in the country.

Soup kitchens are forming to feed people.

Many old age homes are desperate. Many are indebted. The have been pleading for donations.
*

China is screwed.
If China’s growth decelerates that fast, that far, the biggest question in world politics won’t be how the rest of us will accommodate China’s rise. The question will shift to whether China can last.
*

Italy is screwed. "'Run for your lives' is the new motto in Europe."

As I said only this past Friday:
Whatever guess I make about the time frame is likely to be wrong, but I'm no longer favoring one that's measured in weeks. It'll be days, I'm pretty sure, before the entire thing craters again.
And as of 2:30 PM on Wednesday, the Dow is off 374 points and trading well below 12,000 again. It lost 200 of those points within minutes of the open.

I'm expecting it to close somewhere near 11,800 today. And why, you ask?

Italy!
If you haven't noticed this morning is downright ugly in the stock market, with the futures indicating a more than 200 point down open on the DOW.

The culprit is Italian bonds, which have accelerated their march higher on yield and now the 2yr has inverted as well.

Note carefully that Italy, in "immediate terms", does not appear to be in distress. That is, while they're spending a lot on interest they don't have a coverage problem (ability to pay the interest) -- for now.

The market doesn't care. The market has discerned that Italy will not enact the actual government spending cuts necessary to bring revenues in line with expenses.
(Emphasis removed, because who has that kind of time?)

Even if Greece were handled--and it is not--there's still Italy, Ireland, Portugal, and Spain to worry about. And it looks as if Italy is lined up to be the next domino to fall.

Our government is going to do everything in its power to shield the US electorate from the effects of this impending economic disaster until after the elections next year are over. So be warned: if we're very, very lucky, we have one last year to prepare.

* * *

It's a cold, damp, windy November day, and I am useless. *sigh*
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