Obamanomics  (Page 3)

The problem with relying on taxing the rich …

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Posted by  ▪  Monday, August 22, 2011 at 7:00am 8/22/2011 at 7:00am

… in order to pay for your grand spending plans is that sometimes you run out of rich:

… based on 2009 IRS figures, … the number of taxpayers reporting annual income over $1 million fell 39 percent between 2007 and 2009; the number of super-wealthy individuals making over $10 million annually plunged 55 percent.

The carnage wasn’t confined to millionaires. The number of taxpayers earning over $200,000 per year also decreased by 612,000 – or 13 percent.

Ya didn’t think this through, did ya, geniuses?

Spotted in Ithaca:

 
 
 

Finally, a high-growth job sector

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Posted by  ▪  Sunday, August 21, 2011 at 3:00pm 8/21/2011 at 3:00pm

“Be a modern day Robin Hood” was the subject line of an e-mail received by reader redc1c4.

The body of the e-mail is below (red circle added).  It was hawking social work school, where one can specialize, among other things, in “welfare planning.”

The reaction from redc1c4 is that the e-mail reflects:

what’s wrong with this country...

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If this is “halfway there,” can you imagine what “there” will be?

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Posted by  ▪  Thursday, August 18, 2011 at 10:23am 8/18/2011 at 10:23am

It’s hopeless with the current man at top.

Flickers of job hope quickly fade because there is a cloud hanging over the country’s economy and job growth:

The number of people who applied for unemployment benefits last week rose back
above...

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It’s the vacation, stupid

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Posted by  ▪  Wednesday, August 17, 2011 at 9:19am 8/17/2011 at 9:19am

Obama has a jobs plan.  He will tell us when he is ready.  Until then, just chill.

It’s early in the day, but this Tweet by Mark Knoller of CBS News already is the winner of the Obama Jobs Plan Tweet of the Day, both because it reflects that no one is buying...

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A voracious appetite for class warfare

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Posted by  ▪  Friday, August 12, 2011 at 9:58am 8/12/2011 at 9:58am

Obama once again is moving hard on the class warfare, and there is every signal that setting up a fight between the “rich” and “not rich” is the Democratic campaign theme for 2012.

Obama keeps claiming the “rich” do not pay their fair share, but the numbers prove otherwise, as laid out...

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Cornell Study: ObamaCare includes up to $66 billion in unexpected subsidies

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Posted by  ▪  Tuesday, August 9, 2011 at 12:34pm 8/9/2011 at 12:34pm

Cornell professor of policy analysis Dr. Richard Burkhauser, along with Sean Lyons and Indiana University’s Dr. Kosali Simon, has released a study showing that the ObamaCare legislation provides a significant incentive for employers and their employees to take advantage of the taxpayer subsidized insurance exchange.

According to their policy brief, a very conservative estimate...

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Economic destruction by Commerce Clause – farm equipment edition

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Posted by  ▪  Tuesday, August 2, 2011 at 5:20pm 8/2/2011 at 5:20pm

One of the great unwritten stories of the damage to the economy from team Obama is the relentless attempt to regulate areas that have not previously been regulated.

The health care mandate received a lot of attention and breaks new ground, but there are countless other areas that mostly fly under...

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Is the Boehner plan really “short-term?”

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Posted by  ▪  Thursday, July 28, 2011 at 5:15pm 7/28/2011 at 5:15pm

The latest talking point on the left is that Speaker Boehner’s plan to raise the debt ceiling by $1 trillion with a roughly equitable amount of cuts is a “temporary,” “short term,” or a “band-aid” solution and, while the bill may not even reach the Senate if it turns out Boehner...

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“And until he’s gone, everybody’s going to be sitting on their thumbs.”

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Posted by  ▪  Tuesday, July 19, 2011 at 8:23am 7/19/2011 at 8:23am

There are parts of Steve Wynn’s anti-Obama “rant” which have received more attention, but this is the part that is key to me. 

It’s been something I’ve been writing about since before the election, the Obama effect.  It’s why Obama owns the job losses in the late fall...

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He’s the only reasonable person, in his own mind

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Posted by  ▪  Monday, July 11, 2011 at 11:56am 7/11/2011 at 11:56am

I was right, mostly. The serious, conciliatory Obama showed up at the press conference today. The only reasonable person in the room was the theme.

I was wrong to the extent that in his opening statement and throughout Obama framed the issue as the Republicans not being serious, not living up to...

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This picture is worth 2 trillion words

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Posted by  ▪  Sunday, July 10, 2011 at 11:15am 7/10/2011 at 11:15am

Democrats have an idea.  Let’s take an additional $2 trillion from the private sector and give it to the federal government.

What possibly could go wrong?

 
 
 

#AskObama

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Posted by  ▪  Wednesday, July 6, 2011 at 1:01pm 7/6/2011 at 1:01pm

If you are on Twitter, the Heritage Foundation has five questions it is asking Obama for his Twitter Townhall.  The event, like all of Obama’s townhalls, is merely for show, but if he wants questions sent via Twitter, here are the five:

Your budget was rejected by Senate 97-0 & Dems haven’t...

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Obama’s Tax Hikes Aren’t a Last Resort, They Were the Plan All Along

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Posted by  ▪  Friday, July 1, 2011 at 1:46pm 7/1/2011 at 1:46pm

In his rather “prickly” press conference on Wednesday, President Obama made it sound as if tax increases (or, to use the Democrats’ language, “cutting spending in the tax code”) were part of a last resort at trimming the deficit as the federal government reaches its $14 trillion debt ceiling. He even...

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How do you fit this in a 30-second TV commercial?

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Posted by  ▪  Saturday, June 25, 2011 at 9:12am 6/25/2011 at 9:12am

Or a 1-minute debate answer? That’s the trick isn’t it?

So much has gone wrong, Obama has been so bad, its hard to get your words around it.

(h/t to reader John for the link)

 
 
 

Unexpected Tweet of the Day

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Posted by  ▪  Thursday, June 23, 2011 at 6:51pm 6/23/2011 at 6:51pm

Unexpectedly:

More here.

 
 
 

If Even Ben Bernanke’s Not On Your Side, You Know You’re Spending Too Much . . .

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Posted by  ▪  Thursday, June 23, 2011 at 8:44am 6/23/2011 at 8:44am

While I’m certainly not a fan, especially of his policies like the finally ending QE2, I was pleasantly surprised to see Fed Chairman Ben Bernanke offer up a sliver of straight talk on President Obama’s record breaking deficits earlier this week.

Prodded to respond to the CBO’s recently released Long Term Budget...

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Did these so-called shovels ever exist?

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Posted by  ▪  Wednesday, June 15, 2011 at 1:34pm 6/15/2011 at 1:34pm
(by Michael Alan)
Oh look, he made a funny:
But when he was selling the $800 billion stimulus both before and in the months after it was passed, all he could say was “shovel-ready”:
Last October, the President first denounced the use of the term “shovel-ready”:

Mr. Obama reflect[ed] on his presidency, admitting that he...

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