Monthly Archives:November 2012
I’m looking at putting a 250k ceiling on my earnings right now too..i’m nowhere near that but if that’s what i have to do to avoid a 50% increase in taxes that’s what i’ll do.
Karl Denninger has this nailed perfectly and also debunks the lesser of two evil argument as well.
Think long and hard ladies and gentlemen. Political parties and groups will try to tell you that you must choose between evils, and of course they are the lesser of them, as if there is no other option. But there are other options — you can refuse to participate entirely or you can go off and form a new group among those of you who refuse to be abused.
The woman in an abusive relationship or the person in a cult may not recognize that they are the victim of abuse but this does not change the objective view of what is going on. Your time, effort, personal well-being and sometimes wealth are being siphoned off for the benefit of others — and to your detriment.
Today is a day for reflection and to give thanks for that which we have, for many do not.
But it is also a day to reflect on the relationships we have in our lives, whether they be personal, professional or political, and determine which of those are truly complimentary and mutually beneficial and which are, in fact, co-dependent and abusive.
As we move toward the New Year let us all strive to make that determination and to rid ourselves of those relationships that fit in the latter category; we will all individually be better people, and as a society we will find collective benefit through this process as well.
It starts at home…then goes to our churches. I have to say i’m guilty of the home bound version. I’m not nearly where God wants me to be. Secondly, our churches. If the church body won’t regulate the church according to first the Bible then secondly it’s own founding documents then the issues are going to continue. For all Christians it’s time to get things back under His control…and it all starts at home…and in my case it all starts with me.
It’s about time.
The Federal Emergency Management Agency has announced federal disaster aid is being made available to Maryland to support state and local recovery efforts in areas affected by Superstorm Sandy.
The disaster declaration by President Barack Obama announced Tuesday night makes federal funding available to state and local governments and to certain nonprofits. Funding is provided on a cost-sharing basis for emergency work and repair or replacement of facilities.
The disaster declaration covers Allegany, Calvert, Caroline, Charles, Dorchester, Frederick, Garrett, Harford, Howard, Kent, Queen Anne’s, Somerset, St. Mary’s, Talbot, Washington, Wicomico and Worcester counties, as well as Baltimore City.
If you have any kind of gov’t aided pension like roth or 401k..anything tax free…get that money out now…otherwise the gov’t is going to take it within the next 4 years. Maybe 8 if Obama amends the constitution for a 3rd term.
A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.
The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explains National Seniors Council National Director Robert Crone, “However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up.”
A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a “government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation).”
Such “reforms” would effectively end private retirement accounts in America, Crone warns.
“These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own.The Government could then take these trillions of dollars and redistribute it through this new national retirement system.”
“This effort ultimately is designed to grab the retirement nest eggs of America’s senior citizens. This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America’s older citizens,” explains Crone. “This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too.”
Well now. I suggest folks you read the entirety of the article because this first paragraph only gives you a taste. it is very interesting that in the first bankruptcy the Teamsters union was part of an investment group that tried to buy hostess.
Perhaps one of the most interesting aspects of the just announced Hostess liquidation, one that will be largely debated and discussed in the media, or maybe not at all, is the curious cast of characters and the peculiar history of this particular bankruptcy. Some may not be aware that the company’s Chapter 11 (or colloquially known as 22) bankruptcy filing this January, which today became a Chapter 7 liquidation, was the second one in the company’s recent history, with Hostess, previously Interstate Bakeries, emerging from its previous protracted multi-year bankruptcy in 2009. What is curious is that its emergence had all the drama of a anti-Mitt Romney PAC funded thriller, with a PE firm, in this case Ripplewood holdings, injecting $130 million in order to obtain equity control of Hostess as it was emerging last time. There were also more hedge funds, investment banks, strategic buyers, politicians involved in this particular story than one can shake a deep fried numismatic value Twinkie at. More importantly, however, as America has been habituated following the last season of the reality TV show known as the presidential election, if Private Equity then “bad.” Only this time there is a twist: because it wasn’t really PE that was the pure evil in the Obama long-term campaign, it was associating PE with Republicans, and thus: with jobs outsourcing. And here comes the Hostess twist: because Tim Collins of Ripplewood, was a prominent Democrat, a position which allowed him to get involved in the first bankruptcy process in the first place, due to his proximity with the Teamsters’ long-term heartthrob Dick Gephardt (whose consulting group just happens to also be an equity owner of Hostess). In other words, the traditional republican-cum-PE scapegoating strategy here will be a tough one to pull off since the narrative collapses when considering that it was a Democrat who rescued the firm, only to see it implode in a trainwreck that has resulted in the liquidation of a legendary brand, and 18,500 layoffs.
One more excerpt then you have to read the rest for yourselves:
The critical issue in the bankruptcy is legacy pensions. Hostess has roughly $2 billion in unfunded pension liabilities to its various unions’ workers — the Teamsters but also the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (which has largely chosen not to contest what Hostess wants to do — that is, to get out of much of that obligation). If the bankruptcy court lets Hostess off the pension hook — which often happens in these cases — it only moves the struggle outside the courthouse, and the ante goes up. For the Teamsters can then call a strike — which its Hostess employees have already ratified by a 9-to-1 margin. If the court doesn’t grant relief, Hostess can seek liquidation, which would mean that some creditors get some money, but equity would be gone for good, as would a lot of jobs. Either way, each side holds a nuclear warhead with which to annihilate the company
The philanthropic arm of shipping giant UPS said it will no longer give money to the Boy Scouts of America as long as the group discriminates against gays, the second major corporation to recently strip funding from the scouts.
The UPS Foundation made the change Thursday after an online petition protesting its annual grants to the Boy Scouts attracted more than 80,000 signatures. UPS, based in Atlanta, follows computer chip maker Intel in withdrawing corporate support for the Boy Scouts.
The UPS Foundation gave more than $85,000 to the Boy Scouts in 2011, according to its federal tax return.
Several restaurants, hotels and retailers have started or are preparing to limit schedules of hourly workers to below 30 hours a week. That is the threshold at which large employers in 2014 would have to offer workers a minimum level of insurance or pay a penalty starting at $2,000 for each worker.
The shift is one of the first significant steps by employers to avoid requirements under the health-care law, and whether the trend continues hinges on Tuesday’s election results. Republican presidential nominee Mitt Romney has pledged to overturn the Affordable Care Act, although he would face obstacles doing so.
Let’s not mince words — that’s a 25% reduction in the impacted worker’s gross wages!
It’s already started with some “pilot projects” among certain employers, and this will spread. Bank on it. The results will be catastrophic for people in this income class, as on top of having gasoline double in price over the last four years along with other forms of energy rising precipitously along with food and health care now you’re going to see a 25% reduction in their working hours, meaning that their income is going to come down by that same 25%!
Both Darden (corporate parent of Red Lobster and Olive Garden) and some Subway franchises have been testing these changes already. When the first “real” bite comes from Obamacare in as of January 1st 2014, expect all the lower-wage service industries to do exactly this.
Howl lovely. First it was backbilling..now this mess. Guess what..it is going to get worse with Obamacare/romneycare.
The next time you visit your primary care physician for a physical, you may want to consider inquiring as to whether or not you will be billed extra for asking too many questions during your checkup. This is what happened recently to Susan Krantz of Minnetonka, Minnesota, who was reportedly charged an additional $50 on her medical bill for simply inquiring about a sore hip.
It is called a “split charge,” and it is increasingly creeping up in the medical billing process for patients who converse with their doctors about specific ailments outside the general physical regimen. Time spent with doctors discussing “acute care” matters are apparently billed differently than time spent for a “wellness” visit — in essence, doctors are now sometimes charging for two office visits when patients discuss other matters.
“Even as a registered nurse, I can’t figure out what this is,” said Krantz to WCCO News in Minnesota about the charge, recalling when she first noticed it on the bill. “You can be charged an extra office visit if you ask too many questions. I don’t understand that, because isn’t that what [the] visit is for?”