I saw Michael Moore on Hannity the other night and maybe some of you did as well, but I decided to put his (Moore’s) demeaning comments to Hannity down on paper mathematically.  If you watched the show you know that he was talking down his nose to Hannity all night suggesting that he didn’t care about the “poor” at all.  When Hannity asked Moore to define what his tax plan would be he said the following below.  Please bear with me as I transcribe his comments into real values.  Also my assumptions are not assumptions at all, but based on “taxing the rich” as Moore prefers.

Since we are talking about the rich and both Hannity and Moore could be described as “rich” with each making income in the million’s I am going to make this analysis based on the Maximum tax bracket in both the Federal and State model and I am going to ignore the slight impact of the lower brackets since it is insignificant within the class of the rich.  I am also going to “assume” for the purposes of this analysis that the “rich” in question here are “self employed” people since most of them are such as Moore himself, Hollywood Stars, Rock Stars, etc.  These are the rates effective for 2009.  

Mr. Moore said that both he and Hannity could afford to have their tax rate “doubled” and that this should happen and would be disappointed if Obama didn’t do this.  Although Hannity took him to mean doubling ALL their tax rates I believe that there was a disconnect between Hannity and Moore on this point.  I am going to assume the conservative approach and say that Moore was only referring to the Federal Income Tax Rate (if I am wrong and he is suggesting what Hannity thought he heard, watch out, that is a combined tax burden exceeding 100% of income).  Since the maximum Federal Tax Rate (effective on income above $372,200 for Married Filing Joint) is 35% Moore’s “doubling” of the Federal Tax Rate would bring his practical “Federal” tax rate to 70%.  He went on to state that it was a scandal that “high earners” paid Social Security Retirement tax only on the first $106,800 of earnings with the rest being untaxed.  He thought that this was an abuse of the lower earners and a shame on the higher.  (He didn’t mention that through the IRS taxation of Social Security Earnings that by far that most of the Social Security payments are made to the lower income earners.)  So adding this tax to not only the first dollar but the last dollar of earnings as well brings this component of tax up to 15.3% on all income.

In addition to this we can assume (though Moore didn’t state) that the State Income Tax is still part of the “overall” tax package as it affects the tax payer.  States vary in such rates, but since most of the noise on the matter is coming from California, I’ll use their tax rate as the example in this model.  That “maximum” tax bracket is 10.3%.

Adding this all up you will get a combined 95.6 % (70.0 % Federal Income Tax, 15.3 % Combined Social Security & Medicare Tax, and 10.3 % State Income Tax-CA).  

This 95.6% is simply those taxes based on income and do not recognize Real Estate nor Sales Tax.  (Of Course in addition to “income taxes” the Democrats through the voice of Nancy Pelosi are now considering a “National Sales Tax” (VAT) on top of it all.

So, lets take a great income of $10,000,000 for these “filthy rich” celebrities, stars, Entrepreneurs, business owners, etc.  So here you have a Gross Income is $10 million and after deducting the taxes that Michael Moore and his ilk have in store for you, your “take home pay” (i.e. after tax income) is $440,000 and you may say “gee that is a good income and so right you may be, but this the amount before further reduction due to sales taxes and Real Estate taxes on those expensive houses, and with that you will probably be in the S300’s take home range.  If you are not so talented and only making $5 million per year you can count on a take home pay before sales and real estate taxes more in the low $200,000 range and this is before putting anything aside for Retirement or children’s education (assuming we ignore the VAT tax on top of this all being considered by the Democrats right now).  I have to believe that the Jet Fuel for this class of liberal is more than $200,000 per year alone.

None of this analysis begins to approach the element of “risk” that the “rich” must confront in order to develop a business that will earn them a profit of $10 million, $5million or even less.  When you take this into consideration you have a situation where nobody would take the risk to develop the jobs that the country needs.  At the 10 million level of pre tax profit you might have a Gross business of $100,000,000 with a 10% pre-tax profit (which would be great) and if you were fortunate enough to obtain a rate of return on your invested capital of the lofty number of 20% this would mean that you had “at risk” capital of $50,000,000 to fund this type of operation.  In short you are risking $50 million with the hopes in a good year of making maybe $300,000 take home pay.  Not me……..and I doubt you would either.  I’ll just keep the $50 million risk free and you can look for your jobs elswhere.

Now this is change you can not only believe in, but that you are going to get………………….

  Now back at the Florida Headquarters from Ohio then Nashville (nearly adjacent to the EIB network)

I wanted to post a personal email I sent to a couple of friends last night that are occasional readers and commenters here at NSL, though not on the flattering side.  I have taken the liberty of nominal editing and redaction of some actual personal numbers in this republished letter, but you can trust that they were just the same significant, at least to me.

I’d hope that while the left is taking a page out of the Mao Tse-Tung songbook of “collective” praise by school children for the leader (mmm, mmm, mmm) that some might read the article (below) about the “real world” and learn something about how finance actually works, but then again that is why they say about SOME teachers: ”those that can do, do …. while those that can’t do, teach.”  New York is worried and perplexed about why the income tax revenues from the recent piled on tax of the “wealthy” this year is not meeting expectations even after adjustment for the recession.  The truth is (and to their future and intensified dismay) because it was enacted just this year the “wealthy” have not yet been able to implement their “end game” economic plans.  This year down 20% but look out for additional exodus from New York that will not only erode some of the planned increase, but take money off the table that previously existed under the prior tax structure.  You might say, “well, that is a state problem,” but they can’t run away from the Federal Government.  This is the naiveté of the left.  These people are the primary employers in the country and just watch them move investment & production offshore because of this type of stuff and cap & trade, etc.  [Just like Obama did in 2008 with the proceeds of his book sales income invested almost entirely in foreign investments.]

Though just a small player in the financial world, I am a “tax refugee” from Ohio myself.  I make most of my income from stocks and the stock market.  My margin cost (i.e. investment interest) can run to 50% of my gross proceeds (and has been 80% in the past).  Ohio is one state that does not recognize the legitimate expenses of producing income and wants to tax the gross not the net.  Even the Federal Government allows this type of expense though be it “below the line” as they say and then they also have an “unfair” “run off” of Schedule “A” deductions and of course taxing the gross through AMT outrage.  Any self respecting “progressive” won’t see anything wrong with this at all and others will justify it by accusing and citing what they personally didn’t like about George Bush or some ad hominem comment like that, but the bottom line is this is costing governments “revenues” and they just can’t seem to grasp that.

One example is that I myself now file as a Florida resident (and you can be sure I am dotting the i’s and crossing the t’s religiously on the residency game).  I went ahead and calculated my hypothetical OHIO taxes for 2008 (just for personal humorous entertainment since I became a refugee in 2007).  Well, I laughed when the computer gave me the answer.  Even though the rate is about 30% lower than CA, if I were an Ohio resident in 2008 I would have sent them a check for $XX,XXX.  If they had responded favorably and reasonably to my petitions to have margin or investment interest deductible against investment income, I would have only had to pay around $XX,XXX in taxes.  A couple of Republicans proposed this legislation (which I think I may have influenced) but the “progressives” shot it down.  Their “progressive” ignorance not only cost them the $XX,XXX extra tax they wanted from me but the amount I would have paid if they had allowed investment interest deduction as well.  In short they lost it all.  You say “no big deal” but remember I am not the only one.  I meet “tax refugees” down here all the time.  Ted Turner is one by his own admission. (though I didn’t meet him)

If teachers or people want their children to learn something that will be of value apart from some inane mantra about the leader however creepy it may seem, they should teach them the lessons of this article (just think how delicious the response would have been if it were George Bush they were singing about 2001-08).  Since people still have certain freedoms the schemes of the left are doomed to failure, but I think they know this and realize that they will have to deal with what we once thought of “as” our freedoms.  [just for starters take note of the Baucus health care bill requiring the young & healthy to buy health insurance or pay $3,800 +/- “tax” under penalty of fine and imprisonment in the gulag (most likely un-constitutional now ….. pending future vacancies) in order to subsidize health care for the older and other uninsured (which now looks like will include “illegal aliens” by simply declaring them legal).  Just think what a world wide health care magnet that will make us…….we’re so wonderful]

About the article below, read it, memorize it and don’t forget it…………. They already tried this with the aviation and marine industries during Clinton and it failed so badly that Teddy Kennedy led the repeal himself. But along the way it cost untold thousands of jobs and was a “net income loss” for the Treasury.  The Democrats bragged about it being a luxury tax on the rich.  No “rich” person paid the tax and none were denied luxury yachts or private jets or non-jet aircraft, yet they (the rich) still created a lot of jobs…….overseas.  What is it they say about what the deffinition of insanity is?  But what the hell, change is coming.  (heard that before too)  http://news.yahoo.com/s/ap/20090927/ap_on_re_us/us_taxing_the_rich

  I found with great amusement that Palm Beach Post published yesterday (Wednesday 9/16/2009) for the first time a so called “Breaking News” story and detailed the saga of a Florida International coed 20 year old Hanna Giles and 25 year old political activists James O’Keefe video sting on ACORN’s willing assistance in fraudulent house financing, counseling for tax evasion conspiracy, enable and counseling an illegal activity (prostitution) and facilitating the smuggling of illegal under age girls to be used in the sex trade business as prostitutes (sex trafficing) in numerous of their branch offices.  This is a story that is 6 or 7 days old but the mainstream media has been conspicuously absent on the story. 

At last the New York Times mentioned the story yesterday without any discussion or explanation of the merits of the story, but used their article as a battering ram against Conservatives ….. unbelievable.  ACORN has now been stung in 5 separate cities and as I understand it there are quite a few more feet to fall on this matter.  The initial response by ACORN was that it was “doctored” and was a vendetta and not based in reality, but today admitted (what else could they do) that this was unacceptable behavior.  I have been calling for Obama to disavow this ACORN group, but like the mainstream he remained silent until AFTER his cover was provided by ACORN itself when they issuing a self-condemnation statement.  A couple of days ago the Senate voted 83-7 to cut off ALL funding by the US Taxpayer to ACORN.  I wonder where those coward 9 other Senators were when the vote was taken?  Let’s see if Nancy follows through in the US House of Representatives and if the President signs it.

The thrust of the NY Times article was to complain that the “right” has been trying to draw a non-existent link between Obama and ACORN ever since the primaries.  Since the NY Times has chosen to invoke this line of attack please allow me to set the record straight.  That comment from the NY Times is a cheap attempt to disassociate Obama from ACORN and is itself a cover up such actual association.  Obama’s association with Acorn is long and deep.  Even in this last primary season, the Obama campaign paid ACORN $888,000 for campaign services.  That’s right, Obama paid a “tax exempt organization” (for those of us in the professional tax industry that would be 501-c-3 non profit corporation) in order to assist in his campaign (under the gise of voter registration and we know how fraud laden that little operation was) especially after they came out and announced support for Obama.  ANYWAY…….that is not just a single event, but he has had a long-term association with ACORN.

I am enclosing at the end of this post a copy of  page one (Title Page) of the N. District of Illinois Civil Case Docket in an action by ACORN against CitiBank in 1994 with Obama serving as a Page One Lawyer in the 2^nd position on the listing of Lawyers representing ACORN after he joined the recently granted “class action” status of the Buycks-Roberson v. CitiBank with his own cases against CitiBank that he filed himself.  [FH-IL-0011-7500 | FH-IL-0011-7501 | FH-IL-0011-9000].  There are numerous other examples of continued close contact between Obama and ACORN over the years from training their employees to consulting.  [It doesn’t seem his training of their employees was a very effective endeavor.]  Not to mention that during the campaign Obama addressed ACORN in a speech (available on video for all to see) in which he promised that they (ACORN) would have a seat at the table (if he was elected President) in establishing policy for his administration.

For those of you new to Next Stop Lauderdale, Buycks-Roberson v. CitiBank was a landmark case against the banking industry by ACORN resulting in an “out of court” settlement that led to a chain reaction of events where the Democrats in Congress pursuaded Fannie May to re-write their loan standard downward (on the basis of “affordable housing”) and that became the first domino in the current housing crisis resulting in the subsequent current collapse of the banking industry and a national recession.  For a full white paper exposing this story and the fact that Obama is probably the single most responsible politician connected to the current financial crisis and recession go HERE.  (You can forget those protests of Obama  himself as he asserts that he “inherited” this mess from Bush).

I would like to conclude by saying that these two brave kids Giles & O’Keefe are indeed the Woodward & Bernstein of this current generation.  They are probably deserving of a Pulitzer Prize award for Investigative Reporting but don’t look forward to that since the vast majority of the 18 Board Members are from Liberal Mainstream Publications or Liberal Academic Institutions and these are the same crowd that selectively has chosen to ignore this story since it didn’t follow their own story line and bias.

__________________________________________________________________________

I am sitting back and going to wait for those that respond to this letter by asserting wrongs of the Republicans as though anything is on the same level as Human Trafficking of minors for sexual purposes.  Also I am sure the defenders and those that are defenders by their silence see nothing wrong with this because how much less is this than the murder of innocent babies that doesn’t seem to bother them either.  Further tax evasion (not tax avoidance) doesn’t seem to be a problem because multiple leaders of the Democratic party practice the same while talking of tax fairness out of the other side of their pocket book.  The mainstream press should be ashamed and are fully complicit in this type of activity due to their continued silence in disrespect to their Constitutional responsibility and have in effect provided “safe harbor” for the evil this represents and not inadvertantly.  You say it is isolated? ………..and I laugh.  I do have to hand it to the Census Bureau who fired ACORN as a contractor for the Census in 2010 as a result of this.  I wonder who is going to defend this no matter how circuitiously the defence is postulated.

You say this wasn’t a crime, and I’ll correct you and say it was a “criminal conspiracy” and you might say where was the conspiracy and I’ll say that the person (the ACORN Accountant) that provided most (not all) of the criminal counseling offered to prepare the tax return for a discounted price (for a “new” business) which closed the criminal loop with an offer to participate and induce the crime.  This is sort of like the average run of the mill hooker/John sting where they police cannot move until there is offer to commit a crime (description of services) and a price to play.

How criminal must those be in the Administration be that hired ACORN in view of their repeated fraud and criminal indictments throughout the country over the past several voter cycles.  Everyone with an ounce of honesty knows this is a politicall pay back off. 

It is time for Obama to stand up and condemn this organization regardless of the personal cost it is to his fund raising machine if he has an ounce of integrity.  His failure to do so will link to his personal culpability since he has worked so closely with them in the past.  For goodness sakes, he has appologized for every other evil as he sees it that he didn’t personally commit since he was inagurated. …….I’m waiting.

  The White House is now asking publicly for ordinary citizens help it rain in what it calls disinformation about the Presidents healthcare program.  They have published an email address flag@whitehouse.gov for people to write to snitch on people expressing their dissatisfaction with the program.  Check out this Public Service Announcement by the White House HERE.  What has come to this country is CHANGE, but I’d prefer to retain my freedoms such as speech, thank you.  It is interesting that from the same people that made sure that George Bush wouldn’t tap the phones of overseas Jihadists calling their operatives in the USA we are getting and executive branch campaign to collect names of dissenters from the Presidents programs.

Anyone that has a bit of common sense can examine statements by the White House and Members of Congress as well as past video comments by Barry and realize that this is indeed designed to move us to a “single payer” Canadian style program ultimately.  Their claims to the contrary about the plan is in fact the real disinformation campaign. They are even lying about the language itself that is contained in that 1,000 page monstrosity.  But that is what a democracy is all about.  People have preferences.  If you are for the Canadian system and all that this may mean like Barry, then so be it.  But they should be honest about it and not so surreptitiously conniving to force something down your throat through the strategy of dying by a thousand small lashes.

This country is founded the principle of freedom of speech and political thought and it is clear that the administration is trying to crush this.  He has ordered his lieutenants to hit back twice as hard.  They were smart, they charged the opponents at the Town Hall meeting preemptively with wearing swastikas and rough house and intimidation in disrupting the meetings even though this was not so according to many police reports around these events.  This was a couple of days before they launched their own Brownshirt activity by loading the Town Halls with SEIU (Service Employees International Union) and ACORN affiliates to intimidate the old people attempting to enter the halls.  Of course those preemptive comments about the opponents would serve to permit the Administration and Democrats in Congress to say the opponents were striking back and making it up.  Too bad this time it is on tape.

Reports are that many opponents at many town meetings were told it was full while SEIU members were ushered to alternate doors for entry.  This is flat out suppression of speech.  This whole thing is becoming rather Orwellian in the manner that Obama is running this thing.  This is much like the “Black Panther” intimidation during the election that the White House got the charges dropped on after they got into office.  Let me tell you there is one hell of a storm brewing folks.

The most interesting and hypocritical thing of it all is that Barry is calling out those voices of protest as noise makers interrupting his work.  These are people that are voicing their objection to his plans.  Here you have the Organizer (scratch that) Agitator and Chief that spent his career organizing protest now using strong arm tactics to stomp it out.  But I don’t mind in the least, because I believe he is making mistakes that will lead to death (of his Administration).  I guess Rush was correct when he hoped for Obama to fail (as to his programs) even though the left media tried to distort the truth of what he actually called for.

Be sure to cancel your subscriptions to all newspapers and periodicals that are supported by the State Controlled Media and be SURE to cancel your memberships to AARP who has sold out their membership in favor of their blind acceptance of this direction.  Send the message.  Now go ahead and report this “fishy” blog post to the Government Ministry of Thought.

  Obama claims that he doesn’t want to nationalize U.S. businesses, but as I see it, Obama has been in office a little over 4 months and he has turned our legal system upside down and stole the property that belongs to the “secured” and senior lenders to GM and Chrysler in order to essentially “give” those companies to the unions, his largest political financial supporters which are junior and unsecured.  Nice payback payoff ……what is it they say; “elections have consequences.”  This is more adept than the Russian Revolution of 1917.  Remember the misery this brought Russia and others for nearly a century following that little experiment?

To the surprise of the executives in the car industry and dealers, he has dictated the closing of many car dealers nationally without a mechanism to insure that the survivors are not Political Favorites of Obama while many “successful and profitable” dealers are being closed outside of the parameters set up by the auto industry for continued existence.  The only significant justification that you can deduce from this is that they are (as most in fact were) Republican supporters.  He fired the head of GM and replaced him with an “Obama friendly” retired communications executive, Edward E. Whitacre Jr., who claimed on the day of the announcement that he “doesn’t know anything about cars.” Go figure.

Now he is running the banks and deciding how much their executives can earn.  He has even hired a salary “czar” to establish their pay grade.  He likes this idea so much that he is looking into expanding this to other industries.  Steve Ballmer, CEO and co-founder with Bill Gates of Microsoft has been a supporter of Obama but stated that they will move Microsoft “offshore” if Obama continues down this punitive path of taxes and making companies non-competitive in foreign markets.  While attacking US corporations that do business overseas and receive tax benefits for it and wealthy taxpayers not paying enough tax, he himself (according to his published personal taxes for 2008) almost exclusively invested those millions of book royalties U.S. Tax Exempt offshore companies and tax exempt bonds….check it out yourself.

We passed a $800 Billion pork laden program under the guise of “emergency stimulus” to save us from the “Bush economy” [see my link HERE on Obama and the “Community Reinvestment Act” that I posted this past October revealing the real cause of the financial meltdown] and used this urgency as the cover to violate his own campaign promise of posting legislation for 48 hours on the White House website so all could see its contents.   He called it his “new transparency.”  Instead he delivered the 1,000 page bill to the Republicans for first review at 11 PM with a final vote scheduled on it the following morning at 9 AM.  Is this the transparency he promised?  The only thing transparent is that we were played for fools.

The way we know that this bill has nothing to do with “emergency stimulus” (even as it was designed and written) is the fact that 2/3rds of it wouldn’t be spent until 2010 and 2011 with most of that being in 2011.  But it couldn’t wait another 48 hours on the website for proper disclosure.  After it was shot gunned through Congress, Obama took a vacation and didn’t even sign it till mid (the following) week.  Heck, not even the rank and file Democrats had a chance to read it.  But this has all turned out even worse than that because they have only spent 5% of it to date, but you probably recall that part of its sales pitch was that we had plenty of “shovel ready” projects ready to go to effect an immediate stimulus……….not so.  The economy is now beginning to recover without much Federal Stimulus money and even though it will likely be a protracted recovery, maybe we should revisit this spending and cancel it and save our children and grandchildren much grief.

He further emphasized the urgent need of the “stimulus” package in order to avoid the unemployment rate from going over 9% this year.  Well, that strategy worked and that ill designed “stimulus” package did pass and almost exclusively by Democrats but the unemployment rate already hit 9.4% last month.  Now just yesterday he has fired the Inspector General who investigated some suspicious illegal activities of a crony of his own.

Every despot in the world is testing Obama and they are learning that they can get away with anything and they include not only Iran and Venezuela but N. Korea as well.  N. Korea tested nuclear bombs and missiles in contravention of US and UN warnings and yesterday the UN passed a resolution permitting UN member countries to “interdict” N. Korean vessels suspected of caring weapons.  Obama stated yesterday that he intends to challenge such vehicles on the open seas, but wouldn’t use force to board them…………  Do you see what I see here?  He has essentially neutralized even the weak action of the UN and stated IN ADVANCE that we wouldn’t actually stop them.  What kind of leadership is this?  Do you think N. Korea will be inclined to cooperate with the “spirit” of the UN action since we have notified them that we won’t enforce it?

He has been on a world wide tour apologizing for the “misdeeds” of America without mention the countries we saved, the poor people we have fed, etc. and he has even unilaterally stated to the nations of the world that the United States is NOT a Christian nation.  Ok, I can live with that maybe if he let it go at that, but then he goes onto Moslem soil and states that the United States is one of the largest Moslem nations.  Truth is, even by those metrics we are not.  We would be far down that list.  You may have noticed that he managed to exempt his own culpability from all these woes that America has brought on the world.

Obama and his party are doing everything to release real terrorist that we have captured while simultaneously strategizing to prosecute real Americans that protected us from them.  Now Pelozi wants to release photos that even she agrees with U.S. Generals will cost American’s lives.  People don’t understand why she would do that, but it is an easy assessment.  She is playing to the political left in San Francisco that is demanding this.  She has placed her reelection and position ahead of Soldiers lives.  The Deomcrats once (often) said “Blood for Oil” as they criticized Republicans.  I think this is much more clearly Blood for Votes.  (You can’t come up with any other analysis of it.)

What is the cost of all this…………..?  Essentially every economist (eliminating those with a White House connection) feel that the Obama program will bankrupt the country and leave our children with an insurmountable debt at a time they will already be going broke over the existing Social Security and Medicare problems.  Obama said last week “you ain’t seen nothin yet.”  With Cap & Trade and Cap & Tax he will permanently make the US non-competitive with the rest of the world so we can be seen as “politically correct” in solving a problem (global warming) that either doesn’t exist or is not caused by people.  The primary Charlatan and Elmer Gantry of our era is Al Gore.  He has already made $100 million propagating his junk science that he won’t debate with opposing scientists and he is on the threshold of making Billions by becoming the primary “broker” of carbon offset credits.  Understand this is a Ponzi scheme that moves around the production of carbon but doesn’t reduce a single pound of emissions.  Did I tell you that C02 is NOT a toxic substance and is necessary in the photosynthesis process?  You breathe C02 in and out with every breath.  If you didn’t you’d be dead.

Let me conclude and say I smell that Obama is on the threshold of betraying the Israelis in a fundamentally existential fashion and he is headed in the direction of being the biggest elected disaster in the history of the country………..stay tuned.

  Obama was fortunate to receive an early Presidential endorsement from former Senator and Leader of the Senate, Democrat Tom Daschle.  Obama has stated that Daschle has been a long time advisor in his Presidential campaign.  In June of 2008 Obama declares victory over Hillary Clinton in race to secure the Democratic Presidential nomination.

          Also in June of 2008 Tom Daschle claims that “SOMETHING made him think that the limousine and driver he had been receiving from his employer (InterMedia Partners) since the beginning of 2005 might be taxable income since he used it 80% of the time for personal use.”  The total tax due on the unreported income of over $250,000 was $128,000 (plus $12,000 in interest and penalties).

          His Accountant said yes that would be the case it could pose a problem for him.  Since Daschle had not included this income on his tax return for the years 2005, 2006 & 2007 he was delinquent in his taxes and he would be required to notify the IRS and pay the late taxes and penalties immediately.

          Daschle claimed he was going to take care of the delinquent taxes (already 3 years delinquent) in April of 2009 when he files his 2008 return and expressed it in a way that might lead you to think it would appropriately be part of his 2008 filing.  Sorry, that is not the case, it is totally a separate issue and would continue to accrue interest and penalties for an additional 9 months.  But, Obama had not been elected in June and it was entirely possible that he might not be elected at all and even though I am sure Daschle knew he was on the list for a top appointment, he couldn’t be sure he would even have to confront the Vetting process at all, so why rush to pay a tax he may never have to deal with.  Also, if he waited to file his amended returns till 4/15/2009 curiously that is the date that the earliest of his delinquent years (2005) is released from liability by the statue of limitations and 2005 was the year of largest liability because duration of interest and penalties.

        If Obama does not get elected there would be no compelling reason for him to file an amended return.  If he does get elected he could file delinquently for years 2006 & 2007 (omitting the 2005 return) in April, 2009 and pay the piper in order to get the terrific powerbase as Health and Human Services Secretary.  In that light it might be a small price to pay.

          But subsequent events, to Mr. Daschle’s disappointment, have put the spotlight on Cabinet appointments after Obama appointed Tim Geithner as the Secretary of the Treasury and it turns out he didn’t pay all his taxes and he was going to be head of the IRS.  Mr. Geithner filed amended returns AFTER the Obama vetting team found the underpayment on his tax returns.  I am not sure why he had to wait for Obama’s staff to find it since he had received multiple notices from the IRS to pay the amount he owed, which he regularly ignored.  Mr. Geithner even signed documents yearly with the IMF (the International Monetary Fund) his employer acknowledging that he knew he was responsible for this tax and he even submitted reimbursement vouchers to the IMF for said tax which they paid him, yet he did not remit that money to the IRS.  Does this sound like an “error” to you?  Don’t be a fool.

          Back to Daschle.  It was also discovered by the Obama transition team that over the 2005-2007 period Daschle took $15,000 of Charitable Contribution deductions for donations he didn’t make to qualified tax exempt organizations (I’m guessing Political Donations),  AND…… in 2007 he received a consulting salary of $1,000,000 from InterMedia Partners of which he didn’t include $83,333 of that income on his tax return in 2007.

          Add this to the previous report that Charles Rangel, (D-New York), the Chairman of the powerful House Ways & Means Committee who writes the tax laws failed to report many years of rental income on real estate that he owned, claiming he wasn’t aware of his liability.

          These are the guys that have been the prime movers behind the tax laws over the last 20 years and they have repeatedly claimed that certain Americans are not paying their “fair share” and continued to push for increased taxes regularly.  This is the true “culture of corruption” in Washington.  But it is time to reward them with cushy political jobs with overwhelming power.

  Carol Browner is going to be our new “Climate Czar” on global warming.  She was named by Barack from where she was one of 14 members of the socialist organization named Socialists International working for a “Sustainable World Society” which seeks Global Governance.  Their mission is to see that “rich” countries (i.e. the United States) shrink their economies because of the Global Warming scare.  This group in short wants to bring the USA down to size and put it under a world body control [i.e. loss of sovernity].  It isn’t enough that such remedies will cause great pain and suffering in the United States, especially to the working and under class, but that such efforts are misplaced since it doesn’t look like there is any Anthropogenic Global Warming (i.e. manmade GW) and that CO2 levels are a result of Global Warming, not a cause of it.  If you question this, check this article from the English edition PRAVDA (here) that so many of Barack and Carol’s friends would consider authorative on any other matter.  But I am sure you are prepared to lower your own standard of living and sacrifice your own job to further Carol and Barack’s goals.  Cummon…….you must do your part!!!!!

I have argued on the pages of NSL that merely complying with the misguided mandates of the Koyto Treaty would bring an economic downturn unparalleled since the Depression.  This has been debated here by those that don’t believe such compliance would have that type of impact; however, Ms. Browner herself supports the consequences I fear as the primary method of achieving those goals whether it is based on lie propagated successfully by Al Gore for his own gain financial or not.

Of course since her appointment by Barack her name has come down from the “socialist” website, but you can take comfort that Barack transition team has stated that her association with this organization (Socialists International) is no problem for them…………………duh!

 Obama told the San Francisco Chronicle in January that under his plan that the power industry would be allowed to build a coal generated power plant “if they wanted to” but that “under his plan” his “cap and trade” system would charge for the production of every unit of power for carbon emissions to the point that it would bankrupt them.  He also sated that “under his plan the cost of coal fired electricity would SKYROCKET.”  Listen for yourself HERE.  [No, It is not out of context]

     Under my plan energy cost would skyrocket audio HERE.

     I heard today the Democratic apologists saying that he (Obama) would allow the use of clean coal technology.  This is a spin (lie) that they hope will cover the issue for 2 days.  The truth is that clean coal technology deals with scrubbing the burning of coal to remove sulfur from the emissions (You remember the “acid rain” issue).  This is what clean coal technologies deal with, not Carbon).  Sulfur is a pollutant and Carbon is not.  As he specifically says in the attached tape that his comments are related to Carbon Emissions and that the Carbon Offset penalty is related to these Greenhouse Gasses, not the sulfur.

     The question of “clean coal” technology is in doubt as well.  Biden stated that maybe countries like China and Russia would use clean coal technologies, but it wouldn’t be allowed in America.  Listen to Biden yourself HERE.

     Check this AP article explaining the entire mess planed by Obama/Biden as they state in their own words “under our plan.”  HERE