Thursday Open Thread

September 8, 2011 8:03 am

by Charlie · 42 comments

I’m busy. Have an open thread.

SOGTP September 8, 2011 at 8:05 am

On Thursday evening, Sept. 8, Chairman Maobama is going to ask for a $1.0 trillion dollar stimulus in his quest to create jobs. These jobs are purportedly for heavy engineering construction jobs. Shovel ready jobs for roads, bridges, high speed rail, green jobs, and all sorts of infrastructure construction. It will not make a dent in the national unemployment rate.

http://cumming.patch.com/blog_posts/obamas-shovel-ready-jobs

He will ask for $300B, but in the end it will cost $800B. Stimulus/Porkulus #2.

Calypso September 8, 2011 at 8:09 am

So which is it, $1 trillion, $300 billion or $800 billion?

I do know, however, why they are referred to as ‘shovel-ready’!

SOGTP September 8, 2011 at 8:24 am

We’ll need to listen in order to ferret out the final number. As of now all the pundits offer is conjecture. But, I’m sure the number will be worthy of Chariman Maobama and his People’s Central Committee on Economic Planning.

bgsmallz September 8, 2011 at 9:21 am

Are there any Waffle Houses on Mars?

John Vestal September 8, 2011 at 2:26 pm

Yup…and they’re open 24.6597 hours/day!

Calypso September 8, 2011 at 3:51 pm

and 686.98 days a year!

Ed September 8, 2011 at 8:51 am

“Chairman Maobama”

lololololololol.

Today is the Hon. Senator Sam Nunn’s birthday.

He is older than griftdrift…believe it or not.

John Vestal September 8, 2011 at 11:49 am

“Sam Nunn is tough. Sam Nunn is young. Put Sam Nunn in Wash-ing-ton.”

yeah, I still remember the jingle….’cause that 2nd sentence don’t apply to neither of us anymore. ;-)

Doug Grammer September 9, 2011 at 12:44 am

The 8th was my B-day too…..but I didn’t spend it on PP.

Ken September 11, 2011 at 3:37 am

Happy Birthday, Doug!

Doug Grammer September 11, 2011 at 10:51 am

Thanks, Ken!

Ken September 11, 2011 at 3:49 am

I thought I was the only one who still remembered that!

Sam Nunn has the distinction of being the last national Democrat that received my vote (1978) – and then he actively campaigned for Alan Cranston (Naive Leftist – CA) and saved that sorry old socialist’s US Senate seat. I then figured that if party meant more to Nunn than how a person voted, I should remember that and apply the same principle to both him and his party.

View from Brookhaven September 8, 2011 at 8:53 am

Somebody tell Newt he better start debating the people on stage if he actually wants to win.

Does he actually want to win?

Didn’t think so.

bgsmallz September 8, 2011 at 9:12 am

I’d love an update on what is being done with regards to charter schools and the possibility of removing the barrier in the GA Constitution for cities and other incorporated areas to have their own local school board.

Calypso September 8, 2011 at 9:45 am

“…barrier in the GA Constitution for cities and other incorporated areas to have their own local school board.”

Maybe I’m not following you, but what about Buford City Schools, Marietta City Schools, Atlanta City Schools, Decatur City Schools?

Todd Rehm September 8, 2011 at 10:04 am

At the time the current Constitution was adopted, it grandfathered-in existing independent school systems, then says, “No independent school system shall hereafter be established.” City school systems are independent school systems.

Calypso September 8, 2011 at 10:24 am

Gracias for the information. I understand now.

John Konop September 8, 2011 at 9:20 am

I have been advocating a tax system like this for years as many of you know. I am not sure if the numbers below work exactly, but in theory it would be the best tax system. Also it would spur jobs quickly via the elimination of FICA. I hope that some of you help push the idea!

Here’s Phase 1 of my economic growth plan. It’s called the 9-9-9 plan.

A 9% business flat tax. Gross income less all investments, all purchases from other businesses, and all dividends paid to shareholders.
A 9% individual income flat tax. Gross income less charitable deductions.
A 9% national sales tax. This significantly expands the tax base, which helps everyone.
• This plan has the following advantages:
• It is fair, revenue-neutral, transparent and efficient.
• It puts zero tax on capital gains and repatriated profits.
• It replaces the payroll tax.
• It will aid capital availability for small businesses.
• It saves taxpayers $430 billion in annual compliance costs.
• It eliminates the uncertainty holding this economy down.

http://race42012.com/2011/09/01/herman-cains-9-9-9-plan/

David Staples September 8, 2011 at 9:29 am

Seems fairly reasonable… what about spending? I’m not a fan of Herman Cain and his “Christian nation” mentality, but this taxation idea doesn’t sound too bad. Perhaps if Ron Paul or Gary Johnson adopted it? :-)

SOGTP September 8, 2011 at 9:53 am

If I am not mistaken Herman’s plan is a tax increase. I think after swapping deductions and other credits Mordor on the Potomac takes 21% from the national GDP yearly. Doesn’t this represent 27% or a tax increase?

Besides where in the Constitution is the President responsible for taxes, economics, jobs, etc.

I DON’T want the President to have a Plan.

John Konop September 8, 2011 at 10:22 am

Herman Cain and I see the world via being a businessman. The current write-off system favors large multi-national companies over small businesses. This concept evens the playing field. In fact the father of free market economics warned against a system that favors large corporations over small business. We know small business is the fuel for job growth.

If someone invests in their business they do not pay taxes on that, it is deducted from your profits. And must business early growth stage reinvest which creates jobs. And after being successful they sell ie capital gains or take dividends out when they can, and after a sell the cycle just repeats on a macro.

The plan is directed at how the business cycle works and is designed to create investment into our economy without the government picking the winners and losers. As I said I am not sure the exact numbers work but as I said in theory must entrapurnors will tell you this concept would help!

Three Jack September 8, 2011 at 11:46 am

when did you advocate a 9-9-9 tax system? are you saying herman cain stole the idea from you?

whoever came up with the concept (doubt if john or herman actually put the plan together), it looks good to me.

John Konop September 8, 2011 at 12:35 pm

Three Jack,

I have posted numerous times on this website as well as when I ran for office the idea of lower income tax rates with no write offs, replacing FICA with NST and lowering capital gains. In fact BART and or Three Jack disagreed with this concept if I recall right because you claimed I was adding an extra tax ie NST.

I am not saying Herman Cain took the idea from me.

This is what I said.

……The plan is directed at how the business cycle works and is designed to create investment into our economy without the government picking the winners and losers. As I said I am not sure the exact numbers work but as I said in theory must entrapurnors will tell you this concept would help!…..

Three Jack September 8, 2011 at 1:05 pm

agreed that in recent months you have jumped on board the tax reform movement, but when you ran for congress, you never mentioned it other than as a cursory issue. i recall you wanting to put the burden on illegal immigrants in order to increase revenue with no mention of a serious effort at tax reform.

either way, glad you finally joined me and so many others in realizing the current tax system is flawed beyond repair. based on the gop debates so far, it appears all candidates are in favor of overhauling the revenue system.

John Konop September 8, 2011 at 7:00 pm

…..agreed that in recent months you have jumped on board the tax reform movement, but when you ran for congress, you never mentioned it other than as a cursory issue. i recall you wanting to put the burden on illegal immigrants in order to increase revenue with no mention of a serious effort at tax reform……

Bart my comments about this issue have been clear for years. The real truth is you cannot stand that you are not supporting a concept I have been advocating for years.

John Konop September 8, 2011 at 7:00 pm

….you are now supporting a concept…..

Ken September 11, 2011 at 3:52 am

SOGTP,

The plan is designed to be revenue neutral. Of course, we won’t know the reality unless it’s implemented.

John Konop September 11, 2011 at 7:41 am

Ken,

In al due respect the plan would drive more revenue via increasing employment which is good for the economy.

saltycracker September 8, 2011 at 11:38 am

Let’s get real. We can expect congress to make some moves with their primary objective to get through the 2012 elections. Short term stuff, short term confidence. No long term stuff to change the economy’s lethargic growth.

Absent a crisis there will be nothing on the board from the Democrats or Republicans, including the Tea Party, that will set the country on a stable path. The only relief is the Republicans will do less harm.

The most immediate move to free up consumer money and the gov’t to gain some revenue is to allow those eligible to withdraw from IRA’s to do so in any amount with a 10% or less tax hit.
Then a lot of money can be set free for individuals to control their lives.

That’s my fantasy.

Finance_Guy September 8, 2011 at 2:08 pm

So they can guy buy a big screen TV made in China? Why not lower corporate tax rates to create some jobs? That would be a better fantasy.

saltycracker September 8, 2011 at 10:14 pm

Now that’s a big fantasy. Legislators that would completely overhaul the tax system – eliminate loopholes & deductions & slash the tax rate ? Put a tariff on those Chinese TV’s, we’d never notice it in the price drops. How ’bout congress approves foreign aid one country at a time, if at all ? Farm subsidies for the agri-corps ? Obama talks about exporting cars to Asia & what the car companies want is to be able to build mfg. plants over there….

Extend unemployment ? How many of those collecting are working for cash ? Lots.
Extend cuts in FICA for the working ? And we thought the program had issues ?

Nah….keep it simple, cut the IRA’s free & collect some taxes……that’s big bucks…

GaConservative23 September 8, 2011 at 11:38 am

Romney won the debate last night.

Discuss.

Three Jack September 8, 2011 at 11:53 am

as a conservative, i would say romney tied michelle bachman for last place. my order of finish:
1. perry
1a. newt
2. cain
3. huntsman
4. santorum
5. paul
6. romney
7. bachman

if romney cannot accept the fact that ss is a failed ponzi scheme, he has no business running as a conservative republican. add his healthcare mandate to the mix and he is disqualified.

newt shines as the idea man, perry didn’t back off his positions from the ‘fed up’ book and cain introduced his 9-9-9 plan. huntsman has some good ideas and santorum is harmless because he will never be the nominee. paul was his usual self. bachman is a one note wonder with no clue how to actually get things done.

saltycracker September 8, 2011 at 12:06 pm

TJ,

SS – no doubt the administration of SS & SS disability is a ponzi, the premiums are gone. They are still taking in more than they pay out but that will change. The disability portion is probably an acturian nightmare & full of fraud.

The gov’t can’t end it & send out checks for all the money employee/employers plus treasury based interest because they spent it. Be glad to have it.

It is an insurance program that can be easily fixed, IF congress had any will to do so.

Insanity is exemplified by the current reduction in premiums and Obama’s desire to keep it going, calling it a tax cut – Phony SS card folks have to love him…..

GaConservative23 September 8, 2011 at 2:06 pm

Three Jack,

I believe Romney’s point was that Perry’s rhetoric on SS scares lots of voters, especially those independents needed to win back the White House. He even made some statement along the line of, “Social Security needs to be fixed, not eliminated.”

People are so blinded by their hatred for Romney, that they just refuse to hear what he’s saying. I have no idea how anyone who actually watched last night’s debate would put him tied with Bachmann for last place.

To each his own, I suppose.

Three Jack September 8, 2011 at 2:18 pm

gaconservative,

i don’t hate romney, in fact, i was a supporter in 2008 and hoped he would come back strong this time. but if he is going to attack another goper for wanting to reform a system created 80 years ago, he will not become the nominee. what he did was take the safe route based on deception that ss can be ‘saved’ as if 25-30 year old voters are longing to put their money in a non-interest bearing general fund with little hope of ever seeing any benefit.

at least cain and perry have stated the obvious with cain offering viable alternatives based on galveston county and chile. i’m confident perry will do the same soon. romney would rather continue the decades old practice of pandering to geezers and lying to younger americans. that is not a winning message.

saltycracker September 8, 2011 at 11:55 am

The media is all abuzz spinning Rick Perry’s positions like “end SS & not elect senators”…..
Romney needs to grab Marco Rubio & hold him close !

gcp September 8, 2011 at 11:51 am

With the exception of Ron Paul, the only budget cutting I hear from the Republican candidates is to eliminate Obamacare.

Finance_Guy September 8, 2011 at 2:06 pm

Paul’s budget plan would be seriously costly for a few years, but would work. Much like a forest fire rebuilds a forest even strong. The reason I don’t like Ron Paul’s plan is for that same reason, I would rather gradually burn it down and let the economy rebuild rather than in one fell swoop.

Finance_Guy September 8, 2011 at 2:04 pm

Who else is ready for President Obama to announce his newest regulations to be in the way of job growth and his latest ideas on wasting more money??

TPNoGa September 8, 2011 at 3:50 pm

I can’t believe the SEC has invited the Aggies. Watch out southeastern US, the Aggies have a thing for sheep, just sayin’.

Go Bears! Mess with the Aggies and SEC.

If only you guys knew what you have let into your club.

chefdavid September 9, 2011 at 2:19 pm

In case you all are having wifi problems getting the pundit here is a solution:
http://dsc.discovery.com/gear-gadgets/boost-your-wifi-signal-using-only-a-beer-can.html
Caution don’t cut cans after drinkin.

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