Ethanol.
Friday, October 23, 2015
Crony capitalism in nutty Iowa: Nearly 40% of Iowa's corn ends up as ethanol, not feed, driving up food and fuel costs
Since 2010-2011, Iowa has produced an average of 12.7 billion bushels of corn, with an average of 5 billion bushels going to ethanol production, as reported here.
It is estimated food prices would fall 13% by repealing the Renewable Fuel Standard signed by George W. Bush in 2005. Ethanol also reduces MPG by 25%, is bad for engines and does nothing to reduce carbon emissions.
Republicans should kill ethanol!
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45 minutes after blaming Benghazi on a video, Hillary e-mailed Chelsea to say it was terrorism
"YOU LIE!" |
She lies like a rug, like the rest of Obama's vermin.
Kim Strassel lays it all out, here:
'At 10:30 on the night of the attack, Mrs. Clinton issued a statement about the violence, blaming the video. ... Here’s what the Benghazi committee found in Thursday’s hearing. Two hours into Mrs. Clinton’s testimony, Ohio Rep. Jim Jordan referred to an email Mrs. Clinton sent to her daughter, Chelsea, at 11:12 the night of the attack, or 45 minutes after the secretary of state had issued a statement blaming YouTube-inflamed mobs. Her email reads: “Two of our officers were killed in Benghazi by an Al Queda-like group.” Mrs. Clinton doesn’t hedge in the email; no “it seems” or “it appears.” She tells her daughter that on the anniversary of 9/11 an al Qaeda group assassinated four Americans. ... The next afternoon, Mrs. Clinton had a call with the Egyptian Prime Minister Hesham Kandil. The notes from it are absolutely damning. The secretary of state tells him: “We know that the attack in Libya had nothing to do with the film. It was a planned attack—not a protest.” And yet Mrs. Clinton, and Ms. Rice and Mr. Obama for days and days continued to spin the video lie.'
Thursday, October 22, 2015
Recent Republicans who won the Iowa caucus but not the presidency
Gerald Ford, 1976
GHW Bush, 1980
Bob Dole, 1988
GHW Bush, 1992
Bob Dole, 1996
Mike Huckabee, 2008
Rick Santorum, 2012
Boston Herald bloviates against Trump, defends Bush for DHS, DNI and Patriot Act
Here:
“The FBI and the CIA and various agencies were not talking to each other,” Trump said. They didn’t like each other, they were jealous of each other, and a lot of things skipped through.”
All true. But who was the one man to successfully tackle that problem, to propose and get passed legislation to create a Department of Homeland Security, a director of National Intelligence, the Patriot Act?
That would be George W. Bush.
Oh yeah, creating another huge, unwieldy and costly bureaucracy which is unanswerable to the public, spies on its citizens, routinely lies to Congress and botched Hurricane Katrina response was a real resume enhancer for George W. Bush.
Wednesday, October 21, 2015
Biden won't be a candidate in 2016
Announcing it live right now on the radio.
"Honey, it's going to be OK."
Yes, it will.
For the record Ben Carson has been a Republican for less than a year, Trump a conflicted Republican for 17 years
Story here.
Obviously Ben Carson has not been a conviction politician.
Donald Trump registered as a Republican in New York in 1987 (under Reagan), 2009 (under Obama) and 2012 (under Obama). In 1999 (under Clinton) he had switched to the Independence Party, in 2001 (under Bush) to the Democrat Party, and in 2011 (under Obama) he affiliated with no one, according to this source.
So that's seventeen years (12 + 2 + 3) as a Republican, two as an Independence Party member, eight as a Democrat, and one year unaffiliated.
Obviously Donald Trump is a conflicted Republican, but can't possibly be described as an Obama Democrat, if anything just an anti-Bush Democrat.
Caroline Baum should be Treasury Secretary: She knows there's no reason even to think defaulting on the debt is possible
. . . unlike the rogues running the place currently, who are playing chicken with the full faith and credit of the US government.
Once again Caroline Baum cuts through the silliness and explains that there's plenty of revenue to pay what must be paid, here:
'The U.S. Treasury can’t cover all its monthly payments with incoming monthly revenue. But it can avoid default . . .. In any given month, the tax revenue flowing into the Treasury far exceeds interest payments — by a lot. Last month, for example, the Treasury took in $365 billion in tax receipts and made $21 billion in interest payments. For fiscal 2015, which ended Sept. 30, those figures are $3.2 trillion in tax receipts versus $402 billion in net interest. The U.S. government’s ability to service its debt — the principal can be rolled over — should not be an issue. But Treasury has made it one, claiming in 2011 and 2013 that it lacks the authority to prioritize debt payments, something households do all the time. ... [I]n written communications with the House Financial Services Committee in May 2014, the Treasury admitted that it would be “technologically capable” to prioritize debt payments.'
Tuesday, October 20, 2015
Monday, October 19, 2015
Sunday, October 18, 2015
It's significantly warmer in Michigan, but it's nothing to get hysterical about
This graphic from Climate Central showing Michigan annual average temperature increasing 0.622 degrees F per decade 1970-2011 is pretty amazing.
I went to NCDC's Climate at a Glance page and reproduced that same result for myself just to verify it (0.6 degrees F per decade).
I went to NCDC's Climate at a Glance page and reproduced that same result for myself just to verify it (0.6 degrees F per decade).
But one has to ask, Why confine results to 1970-2011 (the terminus ad quem for the study, published in 2012, was 2011) when you can easily go back to 1895 and get a per decade trend result for a much larger sample?
The change in average temperature on a per decade basis for the whole available sample period 1895-2014 produces 0.2 degrees F per decade in Michigan, three times less per decade than for 1970-2011 alone. The result is identical also through 2011. Despite the significant warming since the year 2000, the long term trend remains unmoved and the current period of warming may actually have run out of gas.
Michigan average temperature is increasing 0.2 degrees F per decade 1895-2014 |
I thought it would be interesting to use the length of the sample period in question (42 years) and go back to the beginning of the record in 1898 and look at each 42 year period from then going forward to 1973 (which takes you through 2014) to see if there are any periods of decadal warming trend comparable to +0.6 degrees F per decade in 1970-2011. I chose 1898 to avoid some gaps in the record in some places in prior years in Michigan.
The results are graphed below.
It turns out there are five 42-year periods showing temperature trend of +0.5 degrees F per decade on the left side of the graph, beginning in 1903, 1912, 1914, 1915 and 1916. (Students of the Dust Bowl beginning in 1930, take note, as also those studying economics. Weak GDP of the era may be associated with warmer climate, as it also seems to be now.)
These correspond to six 42-year periods showing temperature trend of +0.5 degrees F per decade on the right side of the graph, beginning in 1960, 1961, 1962, 1963, 1964 and 1973.
If that were all that were to it, there would be no discussion of global warming today, despite the consecutive nature of the recent examples. The two data sets are almost a wash.
What is remarkable about the more recent data is the presence of four 42-year periods of +0.6 degrees F decadal trend (beginning in 1967, 1968, 1969 and 1970), and four of +0.7 degrees F (beginning in 1965, 1966, 1971 and 1972), all in conjunction with the +0.5 degrees F periods. It's a trifecta of warming data.
Still, overall the results show that there are two distinct periods where the decadal trend is consistently +0.2 degrees F or above: the 27 years from 1898 to 1924, and the 20 years from 1954 to 1973. In the former the average of the decadal uptrend is +0.3555 degrees F per decade. In the latter the average of the decadal uptrend is +0.4950 degrees F per decade. Clearly the latter period, contemporary with us, is significantly warmer than the former, by 39%, about which some of us have become hysterical.
The antidote to this is the trough of downtrend years in the middle of the graph which coincides with the period of the global cooling hysteria of the late 1960s and 1970s. The 42-year trend record went negative for 1928-1969 and stayed negative to flat until the period 1946-1987, nineteen years straight, twenty if you count the flat period 1927-1968. Year after year, the 42-year trends ended -.1 degrees F decadal trend or -.2. Many climate scientists predicted the return of an ice age while unbeknowst to them the seeds of a warming era were already germinating.
The record shows how quickly things can turn, for example 0.5 degrees F in trend in just seven years from 1923 to 1930, from above trend on net to well below it.
The decadal trend fell by a whopping 50% between 1917-1958 and 1918-1959, from +0.4 degrees F to +0.2.
More recently the decadal trend fell by 28.5% between 1972-2013 and 1973-2014, from +0.7 degrees F to +0.5. (It's entirely within the realm of possibility that decadal trend could revert to normal by the close of 2017.)
There was just one similar abrupt change to the upside. Between 1964-2005 and 1965-2006 the decadal trend shot up 40% from +0.5 degrees F to +0.7.
Otherwise the record shows incremental change in the trend from year to year, 0.1 degree F up or down at the most.
Don't be surprised when you see it.
Saturday, October 17, 2015
Surprise, The New York Times thinks Denmark, the land of the drunk, mean and discriminatory, is just wonderful!
Here, lying through its teeth, as usual:
'[Hillary] also said, “We are not Denmark.” Nope. Not by any stretch. Denmark has a slightly higher tax load on its citizens than the United States. But it also has budget surpluses, universal health care, shorter working hours, and was recently rated by Forbes magazine as the best country in the world for business.'
Hm, the same place as this:
"Yeah yeah, I’m being too harsh. Every country has problems, Denmark’s are just different from the ones I grew up used to. Overall, Denmark is quiet, introverted and socialist, my three favorite things. Also, if I ever want to spend a weekend being drunk, mean and discriminatory, at least now I know where to go."
The Danes lately excel at being in hock, in addition to being drunk, mean and discriminatory:
"Danish households owe their creditors 321 percent of disposable incomes, according to the Organization for Economic Cooperation and Development. That’s the highest ratio in the world and a level that’s prompted warnings from both the OECD and the International Monetary Fund to rein in borrowing. Danish authorities have argued that households aren’t at risk thanks to high pension and household equity levels."
Denmark has the top tax rate in the OECD in 2014, 60.4%, ahead of Sweden (56.9%), Portugal (56.5%), and France (54.5%). The rate for the US is listed at 46.3%.
Denmark's top tax rate is 30% higher than in the US. That's what The New York Times means by "slightly higher".
Denmark not coincidentally is a global frontrunner in depression and mental illness. It consumes 84 antidepressant doses per day per 1000 of population, second only to Iceland (101 doses).
Labels:
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Bernie Sanders call your office: The poor have higher incomes in the US in real terms in most cases
Bernie Sanders' debate claims about poor US children are eviscerated here by an adherent of Austrian economics:
"Thus, the fact that the US has higher poverty rates says very little about the actual living standards of the poor. The poor have higher incomes in the US in real terms in most cases. The countries that should really give us concern are the countries that have high levels of poverty and low median incomes. ... Greece, Mexico, Israel, Spain, Italy, Ireland, UK, and Portugal -- are the ones that have the least to offer the poor."
Friday, October 16, 2015
Obamacare's been fabulous . . . for investors in healthcare company stocks
Story here:
"Since the Patient Protection and Affordable Care Act took effect two years ago in the rockiest of rollouts, American health-care companies outperformed every industry in the U.S. Taken together, they are the best collection of stocks among worldwide peers."
Profiteering off of human misery is standard operating procedure in the United States of Crony Capitalism.
Thursday, October 15, 2015
Bush W-2 employment 2004-07 narrowly beats Obama's 2011-14
Bush gains in W-2 employment:
2004 1.7 million
2005 2.2 million
2006 2.3 million
2007 1.7 million
total 7.9 million
Obama gains in W-2 employment:
2011 1.0 million
2012 2.2 million
2013 2.2 million
2014 2.4 million
total 7.8 million
The first six years of Bush: 5.8 million
The first six years of Obama: 2.8 million
Rush Limbaugh thinks the 46 million on food stamps are the U-3 "counted" unemployed, many of whom actually can and do work
Yesterday, here:
"Today, there are 46 million Americans unemployed, and 94 million not working. Now, these 46 million people, these are the counted unemployed. This is the U-3 number. The counted unemployed represent 14% of the population."
Limbaugh somehow gets this convoluted mess from here, which he cites but which clearly states the 46 million are those on food stamps, not the U-3 "counted" unemployed:
"The reason you don’t see huge lines of people waiting in soup lines during this Greater Depression is because the government has figured out how to disguise suffering through modern technology. During the height of the Great Depression in 1933, there were 12.8 million Americans unemployed. These were the men pictured in the soup lines. Today, there are 46 million Americans in an electronic soup kitchen line, as their food is distributed through EBT cards (with that angel of mercy JP Morgan reaping billions in profits by processing the transactions). These 46 million people represent 14% of the U.S. population."
In the latest Employment Situation Summary from the Bureau of Labor Statistics for September, those actually counted as unemployed are listed at 7.915 million (2.5% of the population) and the not counted as unemployed at 1.9 million:
"In September, the unemployment rate held at 5.1 percent, and the number of unemployed persons (7.9 million) changed little. Over the year, the unemployment rate and the number of unemployed persons were down by 0.8 percentage point and 1.3 million, respectively. (See table A-1.) . . . In September, 1.9 million persons were marginally attached to the labor force, down by 305,000 from a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)"
U-3 is not a number in millions as Limbaugh says but a rate, the percentage of the labor force which is unemployed (7.915 million / 156.715 million), namely 5.1%.
Limbaugh doesn't understand that lots of employed people get food stamps. Individuals grossing up to $15,312 annually can still qualify for assistance.
Almost 49 million individuals made up to but not more than $15,000 annually in 2014.
The unemployed in Sept. 2015 numbered 7.9 million |
U-3 is a percentage |
Labels:
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Wednesday, October 14, 2015
Democrat debate audience gave Hillary just 17 votes out of 233, coming in third behind Sanders the overwhelming winner and O'Malley
From the story here:
"Not everybody voted, but when it was all over, Bernie was the big winner, with 139 votes. O'Malley came in second with 67 votes."
Democrats win by circling the wagons while Republicans stage circular firing squads
Bernie Sanders rallied around Hillary Clinton tonight over her e-mail problems, admitting it wasn't in his political interests to do so. The two of them almost made love on stage. The crowd went nuts.
Democrats understand the principle: don't help your enemies, help your friends.
Tuesday, October 13, 2015
Conservative news sarcasm alert: 97% of those 94.6 million not in the labor force aren't lazy bums after all
They're the 92 million who are in high school, college, and graduate school full-time, or who are raising the kids at home, or are disabled, or are over 65 years of age, retired and drawing Social Security.
Just 3% don't fit into any of those categories, or about 2.8 million people, that's it.
These are the truly "marginally attached" who aren't counted as unemployed.
The Bureau of Labor Statistics says about them:
"These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey."
The BLS estimates they number 1.9 million in September. This analysis puts them about a million higher than that. Both can't be right but the margin of error is only 1%.
The government's estimate is close enough, I'd say.
Monday, October 12, 2015
Trump's success teaches that Republican voters are not libertarian ideologues
So says John Reid, here:
'Yet if the Trump’s enduring success has taught us anything [it] is that Republican voters are not libertarian ideologues. He recognizes that politics is about “Who, whom?”'
Rush Limbaugh sticks up for the traditional family against National Review and Kevin Williamson
And Williamson is stung by it, here.
Rush is right. National Review used to be a conservative magazine. Now it's a libertarian one:
"This all took place [says Williamson] in the context of a discussion of Mississippi governor Phil Bryant’s boneheaded remarks about working mothers. It was conventional-wisdom stuff — that children do better when the mother is at home rather than working outside it — and, as is very often the case, the conventional wisdom is wrong here."
Not alienating potential voters is more important to libertarians than defending what is right.
Sunday, October 11, 2015
Young "journalist" recently making $5,600 a month actually believes it's cheaper to eat out
Seen here:
'Technology has had a hand in widening the wealth gap and eliminating much of the middle-class since this industry shift began decades ago. But with the other hand, tech scoops up and delivers old promises of middle-class life and delivers them to the new poor. It’s cheaper to eat out, to shop, to entertain yourself, and to obtain consumer technology that makes all those things even more convenient, even on just $21,000 a year. A knowledge economy is sometimes referred to as “an economics of abundance, not scarcity.” It’s really an economics of scarcity with the appearance of abundance.'
Uh huh. She spends more time tweeting (14x/day) than researching, thinking or cooking, otherwise she'd know a single person can eat like a king three times a day for less than $3,500 a year simply by shunning food prepared in restaurants, fast food eateries and delicatessens and cooking entirely for oneself at home. Alcohol and toilet paper included. At $12.75 twice a day it costs $9,300 a year to eat out, once a day over $4,600. And you have to use the public sandpaper.
Spending a minimum of 22% of income on food for just one meal a day is crazy, and way too close to the housing component which should never exceed 28-32% of income.
Kids these days.
The Detroit News calls the libertarian Freedom Caucus "brats", wants Boehner back at least temporarily
Here:
"Too many House Republicans have taken their eyes off the prize. Rather than craft a patient strategy to position themselves as the party of adult leadership in a broken Washington, they have become battling brats intent on mounting quixotic fights they can’t win in the interest of proving their conservative cred."
The Freedom Caucus is doing what libertarians customarily do to Republicans in election contests
Keep them from getting elected, and advance Democrats to power. It's their reason for existing.
When are Republicans finally going to say enough is enough and throw them out?
Saturday, October 10, 2015
Average age of a car on the road climbs from 11.4 years in 2014 to 11.5 years in 2015
IHS Inc. reported here at the end of July:
SOUTHFIELD, Mich.--(BUSINESS WIRE)--The combined average age of all light vehicles on the road in the U.S. has climbed slightly to 11.5 years, based on a snapshot of vehicles in operation (VIO) taken Jan. 1 of this year, according to IHS Automotive, a global provider of critical information and insight to the automotive industry and part of IHS Inc. (NYSE: IHS).
I know. Mine average 13 years old.
floats like a butterfly . . . |
. . . stings like a bee, when you stick it |
Friday, October 9, 2015
Thursday, October 8, 2015
Wednesday, October 7, 2015
Tuesday, October 6, 2015
Biased polling: Libertarian leaning polls have Trump averaging 20%, the others 25%
IBD 17
WSJ 21
BLOOMBERG 21
Average 20
USAT 23
PEW 25
FOX 26
QUINNIPIAC 25
CNN 24
Average 25
The girly men at National Review still feel like Trump attacked them
Lowry and Ponnuru, here, who think Megyn Kelly, Carly Fiorina and Rosie O'Donnell make a "whole pattern":
'Trump’s discarded wives and his habit of making gross sexual insults of women also make it easier for liberals to campaign against Republicans’ supposed “war on women.” Perhaps one or two of Trump’s comments were not as disgusting as they have generally been taken to be: Maybe he didn’t mean to suggest that Fox anchor Megyn Kelly asked him tough questions because she was menstruating. But look at the whole pattern — his repeated attacks on her as a “bimbo,” his slam of Carly Fiorina’s face, his description of other women as pigs — and it’s clear that these bits of ugliness are not gaffes so much as a way of life.'
What a couple a pussies. No one who goes off on three men automatically becomes a man-hater. Men do it all the time, and so do women. But "discarded wives" gives it all away. They were no more discarded than any other gold digger is discarded. Women always take the side of the women.
Besides, the Megan Kelly and Carly Fiorina examples are weak. In the one case Trump artlessly hunted for the ages old idiom "seeing red" and came up short (and isn't everything he says equally artless?), and in the other the source for the story is as suspect as suspect can be but people who are purportedly conservative are still prepared to buy it? Predisposed to buy it is more like it. Carly Fiorina's success with this fake story among Republicans tells you all you need to know about the Republican Party, and Carly Fiorina.
Rosie O'Donnell, on the other hand, has a big fat target on her back for a reason, and deserves everything she gets.
Labels:
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Saturday, October 3, 2015
As usual the UK Daily Mail screws it up, shows old Hurricane Sandy loop from 2012 hitting New York, calls it Joaquin
You've got the wrong loop, fellas. Joaquin is headed out to sea, as your own graphic shows.
Video here, where they also report:
"Hurricane Joaquin, however, has become less of a threat to the United States as forecasts show the storm curving into the Atlantic and weakening in the upcoming days."
Imagine that! Joaquin "has become less of a threat" even though they show video of it slamming into Staten Island! The damn thing's headed toward Bermuda you morons!
You can always count on The UK Daily Mail to cover a story, you just can't count on it to get it right.
I hereby nominate it for A Grauniad.
Friday, October 2, 2015
Grand Rapids, Michigan, September 2015 average temperature anomaly: +4.4 degrees F
September 2015 was 4.4 degrees ABOVE normal on average in Grand Rapids, Michigan, dropping the cumulative anomaly for the year to -18.2 degrees F from -22.6 degrees F through August.
It was a beautiful, warm, dry and very sunny September. Rainful was 2.02 inches below normal at 2.26 inches.
Thursday, October 1, 2015
Sean Hannity the hypocrite: Shocked Rand Paul criticizes Ted Cruz while the three of them have ripped fellow Republicans for years
Well, I say "fellow Republican" advisedly. What they are is libertarians, and put three libertarians in a room, or 300, all you'll get is dissension.
Sean Hannity isn't a Republican, by his own admission, but likes to play in its sandbox. Rand Paul is self-consciously "purple", imagining that right and left can be united as libertarians as opposed to remaining separated as conservatives and liberals. And Ted Cruz' behavior in the Senate makes him a RINO, at least from the RINOS' perspective.
Audio here.
The libertarian wing of the Republican Party would rather spend its time eating one other than uniting to fight Democrats.
They can't agree on anything, can't function as members of a party, and will never be able to run a country, except into the ground.
Trump's lead in first is actually up 35% in the last USAT/Suffolk poll
When you compare Trump's performance in the last USA Today/Suffolk poll to the previous one by USA Today/Suffolk in July, he's actually up by 6 points in first place, going from 17% to 23%, or up 35%.
Since the July poll, Bush, Huckabee, Paul, Christie, Santorum, Perry and Walker (who are both out now) have all together given up 22 points to Fiorina, Carson, Kasich, Graham, Rubio and Trump, on top of 11 additional points added to those front runners from fewer undecideds in September.
In the averages in yellow, note that Trump has improved his overall lead in first by 1.2 points, or almost 21%.
In the USA Today poll, Trump's lead in first has gone from +3 to +10, up 233%.
Freedom Caucus cracks up at lightning speed proving they've never had any credibility
- They oust Boehner on Friday but have no one to put forward
- They organize to fire Kevin McCarthy before he even wins the speakership while admitting they have no one to put forward
- They hold Planned Parenthood hearings but aren't prepared for their much better prepared foes
- Kevin McCarthy gives Boehner a B- but gets an F out of the box by handing Hillary a talking point on Benghazi
And it's only Thursday morning
Labels:
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Wednesday, September 30, 2015
A crack in the Trump facade
Donald Trump, quoted here:
“I’m a practical person,” Trump said. "If I see things aren’t going well, like for instance there are people right now in the Republican party who are not doing well I don’t think it’s going to change for many of them, at some point you have to get out. Right now, I’m leading every poll I get the biggest crowds by far. I had 20,000 in Dallas I had 35,000 people in Mobile, Alabama, you know so far it’s looking good…So I will go and if for some reason I think it’s not going to work, I’ll go back to my business.”
Libertarian impotence: Purple PAC suspends raising money for Rand Paul but has spent next to nothing on him all year
Amazing but true.
Reported here:
“I don’t want to raise money for a futile crusade,” [Ed Crane of Cato fame] said. “I still hope to raise money for him, but not until I see a concerted effort to get back to the roots that got him where he was for a while.” . . .
Sergio Gor, a spokesman for Mr. Paul’s campaign, said, “It is untruthful for a story to say that this super PAC stopped supporting Sen. Paul, when in fact they don’t seem to have lifted a finger in the first place.”
The group spent less than $8,000 in the first half of the year.
Purple PAC raised $1.2 million in the first half of the year, $1 million of which came from Jeff Yass, owner of the trading firm Susquehanna Partners. Mr. Crane said he had not consulted with Mr. Yass on his decision to suspend fundraising. The super PAC currently has $1.4 million on hand, which it won’t spend until Mr. Crane feels more positively about Mr. Paul’s campaign, he said.
Neocon insanity: Krauthammer blows a gasket, says Russia trying to expand hegemony in Syria
Oh yeah, like Syria is somehow Ukraine. The USSR is alive and well, but only in the fevered minds of the neoconservatives.
Here:
"This isn't about the Russians taking on ISIS; this is about the Russians taking over Syria and keeping Assad as a client in place."
Ah, no Charles. This is about a pro-Christian autocrat rescuing an autocrat who used to protect Christians before the Obama policy to disorganize the Middle Eastern community resulted in Christians getting their heads cut off and their communities destroyed.
We should be thanking the Russians, not trying to bury them.
The Tax Foundation says Trump tax plan will blow up the deficit, reducing revenues to 12% of GDP
From Alan Cole, here:
"Looking at these rates, collectively, note that Mr. Trump is frequently cutting rates in half, and sometimes cutting them by even more than that. Taken together, these rate reductions are enough—by my estimates—to reduce tax collections from about 18 percent of GDP to about 12 percent. Under rates as low as these, economic growth—moderate or otherwise—cannot restore federal revenues to current-law levels.
"Tax cuts can do a great deal of good; each of the provisions I outlined above could help a lot of people lead better lives. However, the reductions in federal revenue need to be acknowledged, and likely mitigated through substantial cuts in spending, in order to make this plan feasible."
Larry Kudlow really likes the Donald Trump 15% corporate tax plan, saying he never thought he'd see it
Here:
'Kudlow, who hosts his own syndicated radio show, has long championed a 15 percent corporate tax rate, but "I never thought I'd see a candidate do it. "It'll give us a gigantic advantage. Bring capital and businesses to the U.S., make us the most hospitable place to invest — and that's what Donald Trump has done."'
Zogby poll on September 20th had Trump out front with 33%
Reported here at Forbes:
Trump 33%
Carson 13%
Bush 9%
Fiorina 7%
Cruz 5%
Rubio 4%
Paul 4%
Kasich 4%
Christie 3%
Walker 2%
Huckabee 2%
Ipsos/Reuters poll of core political approval as of September 24th has Trump in the lead with 30%
Seen here:
"After the Wednesday Republican debate, Donald Trump continues to hold the support of 30% of Republicans in our tracking poll, down 5% from last week. Ben Carson remains in 2nd at 18% among Republicans. Jeb Bush is in 3rd with 10%. Carly Fiorina has made significant gains, currently at 8% among Republicans, up from 2% before the debate."
Tuesday, September 29, 2015
CBS News claims Trump keeps the EITC
Here.
For the current 5-year period 2012-2016 the Joint Committee on Taxation has previously estimated the annual cost of the Earned Income Tax Credit to be about $64 billion.
That's actually less costly than the food stamp program was in 2014: $74.2 billion.
Keeping the EITC means keeping what amounts to a welfare program, but one which rewards only those who work. The transfer payments to such individuals basically rebate the Social Security taxes they pay even though they generally make too little to pay much in the way of federal income taxes, if they pay any at all.
Trump's claim that his plan will be revenue neutral is already taking incoming because of things like this.
Of course we don't know what spending Trump plans to cut. He might go really big and call for shuttering some cabinet level departments entirely. The Department of Education, for example, costs $77.4 billion.
For the current 5-year period 2012-2016 the Joint Committee on Taxation has previously estimated the annual cost of the Earned Income Tax Credit to be about $64 billion.
That's actually less costly than the food stamp program was in 2014: $74.2 billion.
Keeping the EITC means keeping what amounts to a welfare program, but one which rewards only those who work. The transfer payments to such individuals basically rebate the Social Security taxes they pay even though they generally make too little to pay much in the way of federal income taxes, if they pay any at all.
Trump's claim that his plan will be revenue neutral is already taking incoming because of things like this.
Of course we don't know what spending Trump plans to cut. He might go really big and call for shuttering some cabinet level departments entirely. The Department of Education, for example, costs $77.4 billion.
Sean Trende spells out the achievements of John Boehner
Sean Trende notes that:
Much more at the link.
- federal expenditures on a quarterly basis flatlined beginning in early 2011, right when Republicans took control of the House under Boehner, largely because of sequestration won in the debt ceiling showdown that year despite controlling only one chamber of Congress, "no small feat";
- even "more impressive" was the fiscal cliff deal brokered by John Boehner in late 2012, making the Bush tax cuts permanent, again with control of only the House of Representatives;
- Boehner "managed to kill" the immigration bill that came out of Mitch McConnell's US Senate, despite "substantial internal pressures" all around to pass it.
Much more at the link.
The Detroit News says GOP malcontents weakened John Boehner's hand in dealing with Obama
Rep. Justin Amash, MI-3, a ringleader of the malcontents |
Here:
Boehner has been no pushover for the Obama administration. He has staked out tough, rational positions on issues important to conservatives. But his hand has been weakened in negotiating with the White House because he has lacked the full support of such a large portion of his caucus, those members who feel symbolic fights over principle are more important than long-term victories.
Monday, September 28, 2015
Washington Examiner has the rare proper assessment of Speaker John Boehner, faced with the unique challenge of a president disloyal to the constitution
Here:
"[R]ight wingers give him an undeservedly bad rap. As a Republican speaker with a Democratic president, he never had a chance to do several of the things they clamored for him to do. Sometimes his most critical Republican colleagues' demands that he get rid of Obamacare or, more recently, defund Planned Parenthood, have suggested a fundamental failure to grasp the mechanics of the system of government in which they work.
"Boehner was not in a position to enact a sweeping, positive agenda. It could not have progressed through the narrowly divided Senate, let alone [have] overridden President Obama's inevitable veto.
"The best accomplishments Boehner could hope for were mostly defensive and negative. The beginning of the his speakership marked the end of Obama's legislative agenda, although sadly the president took this as a cue to exceed his proper powers and bypass Congress, governing by fiat. ...
"Boehner did his job well, and with the sort of patience that conservatives may not appreciate until he is gone."
Trump's tax plan released to the public today is ambitious and pro-growth
The Trump tax plan can be reviewed here.
Notable features include exemption from federal income taxation entirely for up to about 73 million households who make up to either $25,000 individually or $50,000 jointly.
This is in the spirit of the original income tax law, which for its first few years, that is until the demands of World War I and the bureaucratic state came into play, taxed the incomes of no one except the very wealthiest.
It is unclear whether the plan retains the child tax credit or the earned income tax credit, two programs which effectively transfer welfare to lower income families who pay no income tax anyway and who receive through these two vehicles what is effectively a rebate of Social Security taxes they pay as employees, eliminating its regressivity.
For the rest there are just three tax brackets of 10%, 20% and 25%, kicking in at joint incomes up to $100K, up to $300K and beyond $300K. Presumably, but not stated, short term capital gains are taxed at these ordinary rates. Long term capital gains tax rates are 0% up to $100K of joint income, then 15% and 20% up to $300K and beyond $300K of joint income.
Business taxes are slashed to 15% no matter the size, which is YUGE for American competitiveness.
The AMT is eliminated entirely, along with the marriage penalty and . . . the death tax. It's going to be unbelievable!
Deductions are capped for the richest Americans, but deductions for charity and mortgage interest are retained.
We'll see what the dynamic scorers will have to say about it for revenues, as time goes by.
And they say liberals have a death wish: Why Republicans fail
Republicans fail because instead of attacking Democrats, they would rather attack and eat their own.
And it's not like both sides in the Party haven't done this, or that conservatives don't have a case against the leadership. The long history of establishment attacks against conservatives goes back to the George Romney failure to endorse Goldwater in 1964, book-ended most recently by the Mitt Romney campaign's vicious attack of the totally hapless Todd Akin of Missouri, a mere pimple on the butt of the elephant. The kinder gentler conservatism of the Bush clan was, after all, a repudiation of the Reagan era. Kinder and gentler it wasn't, nor conservative.
Pressuring their own Speaker of the House John Boehner to resign last week, however, marks a new low in the history of Republican politics. And this morning Laura Ingraham is endorsing the "frenzy" to get rid of the Senate Majority Leader, Mitch McConnell. People caught up in this have more in common with the Jacobin Club than they do with the men who prevented the revolution against the rights of Englishmen in 1776.
Conservatives now find themselves in the ignoble position of doing the job the voters didn't do in 2014. And they say liberals have a death wish.
What goes around comes around, but for the faction which drapes itself in the US Constitution there is nothing conservative, or wise, about any of this. Conservatives should ask themselves whether the citizens of the state of Kentucky and Ohio are entitled to the representation they have or not. And if not, then why are conservatives entitled to theirs?
Sunday, September 27, 2015
NBC/WSJ poll pulls Trump back to earth, still first in Real Clear Politics poll average with 23.4%, 6.4 ahead of Carson
Trump in the middle of summer was +4 in the NBC/WSJ poll |
Trump starts autumn at +1 in the NBC/WSJ poll |
Trump's poll average hasn't changed much in the last eight weeks, indicating he's stopped persuading people to join him, while the average spread of his lead has dropped by 39% in the interim. This is because support is firming for candidates below him.
While the names have changed in second and third, the level of support has improved for the person in second by 33% and remained more or less the same for the person in third over the period. Ben Carson is the most benefited, going from fifth to second, even as Fiorina rocketed up 1060% to take third, replacing Walker who dropped out.
Similarly the persons occupying fourth and fifth have improved their levels of support on average by 42%, but their names have changed, too. Marco Rubio in fourth has improved his support by 85% over the period, but Jeb Bush is the most hurt, going from second to fifth.
Ted Cruz is notably stuck in sixth in both snapshots, with the same average of support. He's persuading no one, either, except maybe so-called values voters to shift their votes around, unaware that they are just rearranging the deck chairs on the Titanic.
Labels:
Ben Carson,
Carly Fiorina,
Donald Trump 2015,
Marco Rubio,
Scott Walker,
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Titanic
Ted Cruz' true calling is stand-up comedy: The president of China is in town, meeting with the world's most powerful communist
The Don and Ted Show: "You're fired!" "No I'm NOT!" |
Seen here:
"And today, the president of China, President Xi, is in town. Media all over the world are reporting on this historic meeting of the world's most powerful communist... And the President of China."
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