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Category Archives: Balanced Budget

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Posted by on October 20, 2012 in Balanced Budget, Election, Taxes

 

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Only In New America

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1) Only in the New America could the people who believe in balancing the budget and sticking by the country’s Constitution be thought of as “extremists.”

2) Only in the New America could people claim that the government still discriminates against black Americans when we have a black President, a black Attorney General, and roughly 18% of the federal workforce is black while 12% of the population is black.

3) Only in the New America could we have had the two people most responsible for our tax code, Timothy Geithner, the head of the Treasury Department and Charles Rangel who once ran the Ways and Means Committee, BOTH turn out to be tax cheats who are in favor of higher taxes.

4) Only in the New America can we have terrorists kill people in the name of Allah and have the media react by fretting that Muslims might be harmed by the backlash.

5) Only in the New America would we make people who want to legally become American citizens wait for years in their home countries and pay tens of thousands of dollars for the privilege while we discuss letting anyone who sneaks into the country illegally just become American citizens.

6) Only in the New America could rich politicians talk about the greed of the rich job creators at a $25,000 a plate campaign fund raising event.

7) Only in the New America could you need to present a driver’s license to cash a check or buy alcohol, but not to vote.

8) Only in the New America could people demand the government investigate whether oil companies are gouging the public because the price of gas went up when the return on equity invested in a major U.S. oil company (Marathon Oil) is less than half of a company making tennis shoes (Nike).

9) Only in the New America could the government collect more tax dollars from the people than any nation in recorded history, still spend a trillion dollars more than it has per year for total spending of $7 million PER MINUTE … and complain that it doesn’t have nearly enough money.

10) Only in the New America could the rich folks who pay 86% of all income taxes be accused of not paying their “fair share” by the increasing percentage of people (47%) who pay NO income taxes at all.

 

 

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Are You Under 30? WAKE UP!

The Heritage Foundation is a leadership organization that performs conservative policy research and analysis.  Below is an analysis of the FY 2013 Obama Budget released last week.

h/t pbs.org

If you are under 30, you need to start thinking about your future.  Are you going to fight for spending cuts?  Or, are you going to be enslaved to paying the Principle (now $15.3 Trillion) and Interest ($450 Billion/yr) for the Trillions that are spent today?

Read their analysis of the budget below.  Pay particular attention to the last few paragraphs:

Obama’s Friends Win Big in Budget

You don’t need to log on to President Barack Obama’s Facebook page to find out who his friends are, and you don’t need to read tea leaves, gaze into a crystal ball, or consult a psychic to learn where his priorities lie. No, you only have to take a look at his 2013 budget, just released on Monday, to see what kind of company the president keeps and to what extent he will go to lend his pals a helping hand.

The folks seated at the president’s head table haven’t changed much in the past few years — the only difference is how much is being served up in the taxpayer-funded buffet. As in the past, the president has plenty of handouts for his big labor buddies. His budget delivers a fourth consecutive annual deficit exceeding $1 trillion — and that spending goes to yet another round of not-so-shovel-ready construction projects and government “investments” totaling $178 billion. Heritage’s Patrick Knudsen writes that the spending includes the president’s favored road, bridge, and school construction projects, but “then they go alarmingly beyond the usual ‘infrastructure’ arguments to fund teachers’ pay.” In other words, unions representing the construction site and the classroom win big.

Other winners in the president’s budget are those who fit into the Administration’s vision of a green economy that is propelled not by the market’s demand, but by Obama’s whim. The 2013 budget proposes to spend $310 million to make solar energy cost-competitive without subsidies by 2020, $290 million to expand R&D on energy efficient manufacturing techniques, and $421 million in fossil energy research and development. Heritage energy expert Nicolas Loris writes that the budget “rejects the notion of a market-based energy industry and wastes taxpayer dollars at a time when we desperately need to curtail out-of-control spending.” In other words, he says, the president’s blueprint is all wrong.

There’s no clearer example of just how wrong the president’s blueprint is than his decision to increase subsidies for electric vehicles like the $41,000 Chevy Volt while ending funding for the D.C. Opportunity Scholarship Program (DCOSP), which gives low-income children in the nation’s capital a chance to escape underperforming schools. The White House intends to increase taxpayer-funded subsidies for those who purchase new-technology vehicles to $10,000 per buyer, up from $7,500. Keep in mind that the average income of a Volt buyer is $175,000 per year. That means that middle-class taxpayers are helping the rich buy pricy, politically correct cars.

With his other hand, President Obama is taking from the poor. The DCOSP provides $8,000 vouchers to 1,600 low-income children in the District of Columbia, empowering them to attend a school that they choose. The program has been a stunning success — though it has drawn criticism from the president’s teachers union allies. If the president gets his way, those children will pay the price.

They won’t be the only ones in their generation, though, who will suffer under the president’s budget. From a big picture perspective, the president’s budget rises from $3.8 trillion to $5.8 trillion in 2022. Putting that into context, that means outlays above 22 percent of gross domestic product — more than twice the New Deal’s share of the economy in its peak years. In constant dollars, outlays are more than three times the peak of World War II. With all that spending, someone will have to pay for it. Whose names will be on the bill? Those under 30 — America’s debt-paying generation. Their entire lives will be dominated by paying down today’s mountains of debt. And some of them are waking up to that fact.

“It will be my generation, rather than the retiring baby boomers, that will be paying off the national debt through higher income taxes,” says Amanda Winkler, 24, a Master’s Student at American University. Shaun Rabenius, 26, is a part-time construction worker and student. He says, “I have never followed politics much, except for when I vote. But in looking at the last decade, the presidencies, and the debt they have accumulated, I am scared out of my mind.”

They’re right to be worried. With a Senate that hasn’t passed a budget in well over 1,000 days and a president who seems intent on spending more, not less, without addressing the country’s underlying budgetary crisis, future generations will soon find that the winners today will make them losers tomorrow.

None of these great and wonderful utopian programs (Medicare, Social Security, Medicaid, Food Stamps, Unemployment Insurance, ObamaCare) will exist when our under-30 citizens reach retirement.  They will have disappeared into the mountain of debt that the current generation-of-selfishness has amassed.

So youngsters, vote on for Obama, because he’s so hip! [sarc]

 
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Posted by on February 15, 2012 in Balanced Budget, Freedom, Obama

 

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Dear Grandma and Grandpa…

…I’m just going to say it.  We love you, but you’re being incredibly selfish and unrealistic.  You are responsible for this mess too.

YOU voted in a bunch of politicians that sold you Ponzi schemes called Social Security and Medicare; you allowed politicians to stay in office and let them spend that money; you let them enrich themselves off that money; in 2010, 57% of all Federal Revenues went to pay for Social Security / Medicare; that amount is growing to enslave our countrymen.

You have to help!

You can’t just say, “No, I paid into Social Security, I get ‘retirement'”.  It’s incredibly selfish and unrealistic.

I didn’t start voting until Reagan was in office.  So, everyone else from 1935 – 1984 is also responsible for the Social Security / Medicare laws and debts created during those times and the affect of those laws since.

Why do you think you’re entitled to take my money and my kids money because you gave politicians your money, you didn’t watch them, and they spent it?

At the very least, take a look at how much you paid into Social Security/Medicare, add a compounded 4%, and strive to use only that much in your retirement.

That is not too much to ask.

Graph is from here

h/t thearc.org

 
 

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CBO: The Federal Budget Infographic

I remind you again, that a great place to stay ahead-of-the-news on what’s coming down the pike for legislation is the CBO (www.cbo.gov).  Add yourself to their e-mail list!  I repeat.  Add yourself to their e-mail list!

Today’s release included an Infographic on The Budget, Spending, and Debt.  The graph at the bottom of the Infographic may be accurate, but it belies the truth that the Federal Government is $15 Trillion in Debt.  The GDP is $15 Trillion.  So, the Federal Debt is 100% of the GDP!

The Federal Debt is 100% of the GDP!

Below is a summary of the spending side of the Infographic.  Click on the image to display the entire Infographic.

 

 
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Posted by on December 13, 2011 in Balanced Budget, White House

 

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A Lotus Evora In Every Pot

“Since 1988, the Federal Government has paid $8 Trillion in Interest on the Federal Debt.  That’s enough to give every taxpayer a Lotus Evora dream car.”

h/t uncrate.com

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If your Representative (House or Senate) voted for this unbelievably bad debt deal, they need to be Primaried!  Period.

 
 

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Elected Republicans: Change This Talking-Point!

Republicans are standing firm on their pledge not to raise taxes.  Tea Party Members and Conservatives appreciate that continued effort.  But the talking-point needs to better reflect the reality of the Republican, Tea Party and Conservative position.

When asked why Republicans won’t raise taxes, the answer (the talking-point) is this:

The Federal Government has proven that it can collect taxes and spend.  What it hasn’t proven is that it can cut spending and live within the confines of the U.S. Constitution.  And, to that end, until we (Republicans / Tea Partiers / Conservatives) see that entire Programs, Departments and Salaries have been cut / removed from the Federal Register, WE WILL NOT CONSIDER RAISING ANY TAXES.  Only then will we have proof that the Democrats are serious about cutting spending.

h/t rt-image.com but site was not found!

The statement is simple and to the point.  It absolutely destroys the canard that Republicans are protecting the tax breaks.of Big Business, Corporate Jet Owners, and Wall Street.

Leaving the discussion at “We won’t raise taxes during a Recession” or at “We won’t raise taxes on Job Creators” leaves too much room for Leftists Pundits to attack.

(FWIW, only the ignorant and uninformed still believe that Big Business / Wall Street give most of their donations to Republicans anyway; but I digress)

 
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Posted by on August 17, 2011 in Balanced Budget

 

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Senator Crowell: On The Missouri State Budget (Part 4)

By Missouri State Senator Jason Crowell (jcrowell@senate.mo.gov):

(Read Part 1 here)

(Read Part 2 here)

(Read Part 3 here)

Missouri’s State Budget

We must Stop Balancing the Budget on the

Backs of our Children through Education Cuts

Over the last few weeks, we have looked at Missouri’s budget numbers and at the Jefferson City politicians’ willingness to ask our children to shoulder these economic times with cuts to their schools. Yet, even after two years of deep cuts to education and with terrifying forecast numbers coming in, the battle to protect our children’s future educational opportunities is just starting.

Over the past two years Missouri has not fully funded the foundation formula for K-12 education. We failed to fund it by $23 million in 2009, another $74 million in 2011, and another $177 million in 2012. In total, K-12 education has not received $274 million it should have, according to the foundation formula and state law. This is on top of $60 million over the last three years in cuts to transportation funding, another $37 million cut deleting Missouri’s career ladder program and $10 million in withholds and cuts to early childhood’s Parents as Teachers program.

The cuts were not just to K -12 funding but also to higher education. In 2011, funding decreased by 10% followed by another 7% in 2012, totaling $186.5 million. This means Missouri’s universities and community colleges have gone without $306.8 million from just 2010.

While education has seen hundreds of millions in cuts, as I pointed out in last week’s column, tax credits are one area that has seen sky-high increases. Over the last 12 years, tax credits have grown 407.9% to $521 million in 2010 and an estimated $698.4 million in 2011. Now, in the midst of not being able to fund what I believe is our state’s number one priority, education, the Jefferson City politicians want to give away more money in tax credits. They do not believe we have spent enough on them and are asking for even more for their campaign contributors.

Currently legislative leaders are pushing for a special session in order to award new tax credits for a St. Louis development called Aerotropolis. The plan for Aerotropolis is to give out $360 million in entitlement tax credits over 15 years to offset landing fees and build cargo facilities near Lambert Airport in St. Louis with the hopes of creating a hub that would attract international trade from areas like China.

The idea is based on a book by journalist Greg Lindsay who told the St. Louis Post-Dispatch last week “that St. Louis’ plan won’t work.” He continued that “we can’t generate enough cargo traffic to justify a major, long-lasting commitment from any airline, Chinese or otherwise.”

The reason for Lindsay’s skepticism of this becoming an economic engine and instead a waste of your hard earned dollars is for two reasons. First, St. Louis is late to the game as airports in the Midwest, such as Chicago and Memphis have already established the cargo capacity and trade relations for what supporters say these giveaways will create. Second, St. Louis has the highest landing fees among the Midwest airports they would be competing against (as the chart to the left shows).

With Lambert Airport being $1.4 billion in debt, St. Louis wants state tax payers to bail them out of debt by offsetting their high tax to land at the airport. In my opinion, this bailout is just as wasteful as the $100 million in tax credits passed in last year’s special session for Ford, which have yet to create one new job. Developers know this will not be a financial success, otherwise they would move forward with Aerotropolis without government subsidies.

The special interests will take your money and add it to their wallets if this passes as proposed. The Jefferson City politicians again have decided it is time to give more of your hard earned money to their campaign contributors and education will suffer if we don’t stop them.

In the Senate this past legislative session, we passed needed reforms to tax credits and protected education in Missouri. Provisions passed in HB 116 would have capped the amount of tax credits that can be issued each year, such as for the ballooned low-income housing and historic preservation. Renters, who were not paying property tax, would have no longer received a property tax credit, saving the state $57 million dollars a year. New tax credits, like the Missouri Science and Innovation Reinvestment Act (MOSIRA), would have been, as I have been calling for, subject to appropriations. And several performance-based credits were consolidated so we can tangibly see the outcomes of our investment while eliminating those tax credits that were not providing a return on investment to the state. The reforms in HB 116 would have saved Missouri taxpayers $1.5 billion over the next 15 years. House leaders though were more focused on their next election; protecting their campaign contributors and the special interests and killed these common sense reforms. They prevented this sweeping reform bill from being passed and now want more new tax credits and less reform.

Cuts to education jeopardize our children’s future. Missouri’s priority should not be in rewarding campaign contributing special interests, but should instead be the full funding of all aspects of education. That is why I oppose a special session that creates new tax credits without meaningful reforms.

There are 18,000,000 Sq Ft of unused warehouse space near the St. Louis airport.  Yet, certain Missouri legislators and Governor Jay Nixon want to give away $360,000,000 of your tax dollars to build more unnecessary warehouse space.

Contact your Senator and Representative today to tell them that you are firmly against this boondoggle.

As always, I appreciate hearing your comments, opinions, and concerns. Please feel free to contact me in Jefferson City at (573) 751-2459. You may write to me at Jason Crowell; Missouri Senate; State Capitol; Jefferson City, MO 65101, or e-mail me at: jcrowell@senate.mo.gov or visit me on the web at http://www.senate.mo.gov/crowell.

h/t senate.mo.gov

 
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Posted by on July 22, 2011 in Balanced Budget, Taxes

 

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$17 Trillion In Federal Debt…. …Then What?!?!

If Congress approves a $2.5 Trillion increase in the Debt Limit (which should be called a Tax Increase), what happens when we get to $17 Trillion?

We KNOW Congress will spend that $2.5 Trillion.

Will the Republicans suddenly grow a backbone then?  When we hit $17 Trillion during an election year, will the Republicans actually force the Democrats hand?  Or, will they capitulate when the Democrats and State Run Media beat them over the heads again?!?!

h/t http://politicalhumor.about.com/bio/Daniel-Kurtzman-8621.htm

Obama doesn’t want to balance the budget.  His budget, voted down 97-0 in the Senate ADDED $10 Trillion over the next decade.  The Democrats will NEVER balance the budget!!

The American voters know that and that’s why there was a 60-Seat shift in the House.  That November 2010 vote was to STOP this out of control spending.

Now is the time to force the Democrats into a balanced budget by refusing to up the Debt Limit!

Stand Firm!

Be a statesman and not a politician… …because a vote for the Gang of Six compromise will be the end of your political career anyway!

 

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Senator Crowell: On The Missouri State Budget (Part 3)

By Missouri State Senator Jason Crowell (jcrowell@senate.mo.gov):

(Read Part 1 here)

(Read Part 2 here)

Missouri’s State Budget

We must Stop Balancing the Budget on the

Backs of our Children through Education Cuts

As part of our look into Missouri’s current budget situation, we previously examined where we are, where we are headed and some of the factors that have put us in this situation. In my opinion, the politicians have failed to act and instead pushed Missouri’s budget deficit off to the future. Because of the situation Missouri is in, now is the time for leaders to enact real reforms that will make sure the spending of your tax dollars are in line with our values.

One area where Missouri can reform is in the process of awarding a large number of tax credits at the cost of cuts to education. Politicians always say education is their number one priority, yet their actions show a different truth. They continue to show tax credits are their number one priority by continuing to increase the amount of tax credits given out by 407.9% over the last 12 years. A tax credit is a dollar-for-dollar reduction in tax liability that would otherwise be due to the state. This means that every dollar that is given away in a tax credit is a dollar that our state government must replace by increasing taxes or making cuts in current programs; and taking more of your hard earned money is not an option.

The state offers many tax credits for a diverse list of causes, including historic preservation, low-income housing, livestock breeding, and business development. But the popularity of tax credits can often be traced to the pockets of big businesses and special interests. These special interests are well represented by lobbyists in the halls of the Capitol who convince legislators that special interest tax credits create jobs or enhance economic development when all they really do is line the pockets of their beneficiaries.

One of the biggest offenders of using Missouri’s scarce resources are the developers receiving the Low Income Housing Tax Credits. This program provides federal and state tax credits to investors where, each year for 10 years, these tax credits can be sold to raise equity to construct or acquire and rehabilitate affordable rental housing. Low Incoming Housing Tax Credits though, are, as a 2008 report by the Missouri Auditor called it, “costly” and “inefficient.” The audit showed that only 35 cents for every dollar in tax credits go to development costs while the remaining 65 cents go to investor needs. The same auditor’s report also criticized the selection process of not documenting how projects are selected; suggesting that political influence impacts the selection of Low Income Housing Tax Credits.

I believe it is this political influence that made Missouri # 2 in the nation in 2009 for Low Income Housing Tax Credits ($106 million) and #1 in the nation for Historic Preservation Tax Credits ($186 million). At the same time, the U.S. Census Bureau reports Missouri is 45th in per capita funding of higher education and 32nd in per capita funding for K-12. I believe this spending is backwards and does not represent our priorities.

In Missouri, the method by which we set Missouri’s priorities in spending your tax dollars is in the appropriation process. Through this process, we ask each of the state’s expenses to stand in line before your representatives in the General Assembly; requiring them to demonstrate why, with limited resources, they should be funded over others. The problem with Missouri’s current tax credit system is the politically connected who receive tax credits, cut to the front of the line, receiving their $521 million in 2010 first, without ever coming before your elected representatives. Then, after waiting in line, when education finally reached the front of the line, the politicians had to tell teachers and students, sorry, we don’t have the money to fund our educational needs and underfunded K-12 funding by $23.8 million.

This is why as part of protecting educational opportunities; we must incorporate fundamental reform to Missouri’s tax credit system. My plan is to subject tax credits to the appropriations process. This way, instead of playing favorites by being able to cut ahead of the line, tax credits will be made to stand in line like every other state expenditure. In this process, your elected representatives will have the chance to look at all the things we spend your tax dollars on and prioritize accordingly. It also creates a transparent process for developers to be held accountable for a return on investment for receiving your hard earned tax dollars.

I believe we need to reform tax credits, not spend more on them through the creation of new ones. But sadly, House leaders disagree. In next week’s column, I will share with you the coming battle to protect our children’s future educational opportunities versus giving away your hard earned tax dollars in tax credits to politicians’ campaign contributors.

Another great place to start is in the waste at MODot.  It’s a stunning waste of money to put up signs telling me that they are widening the road on I-55 between Barnhart and Festus (and other places throughout the state) when it’s obvious that they are working on the road.

It takes just 8 of those signs to wipe out the entirety of my yearly Income Tax contributions to the state coffers.  How many ‘citizen years’ do you think MODot wastes on the fancy new digital signs that are now lining the Interstates and tributaries… …that generally say, “Buckle Your Seat Belts”

And, these are just the most blatant and obvious wastes in the department.

Each expenditure throughout all state departments must be gauged on how many citizens must work all year long to pay for the item with their sales and income taxes!

That is the appropriations process we need!

As always, I appreciate hearing your comments, opinions, and concerns. Please feel free to contact me in Jefferson City at (573) 751-2459. You may write to me at Jason Crowell; Missouri Senate; State Capitol; Jefferson City, MO 65101, or e-mail me at: jcrowell@senate.mo.gov or visit me on the web at http://www.senate.mo.gov/crowell.

h/t senate.mo.gov

 
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Posted by on July 15, 2011 in Balanced Budget, Conservative, Taxes

 

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