Tag Archives: Forbes

More Questions Without Answers

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A blog called the Daily Pen posted some information on Friday that may turn out to be important. Please take a look. There are an awful lot of unanswered quesitons about the history of President Obama. Even some in the major media are starting to wonder about his school records, etc. Forbes Magazine has posted an excerpt from a book called, “Hope Is Not A Strategy.”  Normally, a President’s college grades, educational history, etc. are public information. Why is there so much secrecy surrounding President Obama?

NOTE: The Forbes article referred to above has disappeared from the Internet.

Gateway Pundit has the story.

 

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About That Buffett Rule…

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Pat Robertson on the 700 Club revealed some numbers his research people came up with regarding the taxes of Warren Buffett and Warren Buffett’s secretary. They are as follows:

Warren Buffett’s 2010 Taxes:

Adjusted Gross Income              $62.9 million

Taxable Income                          $39.8 million

Income Taxes                             $6.9 million

Warren Buffett’s secretary in 2010

Forbes Magazine estimated her income at somewhere around $200,000

Her estimated tax burden was approximately $70,000 or slightly higher

A significant amount of Mr. Buffett’s income came from sources that the government had already taxes at 35% (corporate taxes). There is no reason to tax that money again. Mr. Buffett’s secretary did not pay more in taxes than he did. That is a lie.

 

 

 

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One Answer To The Deficit And To Job Creation

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In April of this year, the Daily Caller posted a story about the high cost of government regulations. The article reports:

Wayne Crews, vice president for policy at the Competitive Enterprise Institute, combed through the 81,405 pages of the Federal Registry — which contains the nation’s regulations on businesses, and state and local governments — and cites a report showing that regulation cost the economy a whopping $1.75 trillion in 2008.

In July, Forbes posted an article about the cost of Government regulation stating:

The country’s wealth creators need a real review of regulations, not comforting words from federal officials. Out of over 3,500 rules finalized in 2010, OIRA (Office of Information and Regulatory Affairs) reviewed 66 — and of those only did benefit calculations for 20.

A simple perusal of the Federal Register shows over 430 rules costing over $65 billion so far this year alone, let alone the entire Crain (Nicole and Mark Crain, author of the SBA’s oft-cited report finding of $1.7 trillion in regulatory costs) universe of rules, which stops at 2008. As the Crains note, regulatory costs are often “indirect,” compared with direct taxation.

The article at the Daily Caller also points out:

Combining regulatory costs with federal FY 2010 outlays of $3.456 trillion reveals a federal government whose share of the entire economy now reaches 35.5 percent.
In 2010, federal agencies issued 3,573 final rules.

While agencies issued 3,573 final rules, Congress passed and the president signed into law a comparatively “few” 217 bills. Considerable lawmaking power is delegated to unelected bureaucrats at agencies, an abuse addressed recently in proposals such as the REINS Act.
Proposed rules in the Federal Register have surged from 2,044 in 2009 to 2,439 in 2010, a jump of 19.3 percent.
I don’t know what the President will say in his economy speech tomorrow night, but unless he agrees to cut government regulations drastically, the unemployment numbers will not change significantly.

 

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