This'n'That; June 28th[CommonSense;ACORN-COI;HeavyElement]

Finally, Common Sense Arrives On Capitol Hill

On Wednesday, June 24, on Capitol Hill, Congressman Doug Lamborn of Colorado, Congressman Thaddeus McCotter of Michigan and Congressman Scott Garrett of New Jersey formally announced the creation of the Congressional Sovereignty Caucus – an entity dedicated to preserving U.S. sovereignty. More than 30 other members of the House of Representatives have already enrolled. The Congressional Sovereignty Caucus was established to protect and defend the rights of American citizens and the interests of American institutions from the increasing influence of international organizations and multilateral agreements. It will also promote policies and practices that protect U.S. self-determination, national security, and constitutional principles and defend American values from encroachment by globalists. The recent nominations by the Obama administration have shown us that there are people who believe American citizens should be subject to international law and that the United Nations trumps the United States Constitution. This realization makes the Congressional Sovereignty Caucus more important than ever. Our Founder and Honorary Chairman, LtCol Oliver North, stated in his weekly nationally-syndicated column this week that “I am not a citizen of the world. Nor are the leaders on Capitol Hill who are members of the Congressional Sovereignty Caucus. We’re American citizens. We raised our right hands and took an oath to “support and defend the Constitution of the United States against all enemies, foreign and domestic and bear true faith and allegiance to the same…”

ACORN-COI And Fluffy Continue To Piss Money Away

Bloomberg News reports today on some of the more egregious unintended consequences of the Economic Stabilization legislation (Bank Bailout) that was passed last October. In particular, one of the tax breaks extended under the legislation will result in a $2.7 billion benefit to London-based Diageo Plc, which benefits from tax breaks received by rum distilleries it owns in the Caribbean, according to the report. Soon after the bill’s passage in October 2008 TCS [Taxpayers for Common Sense] highlighted the extension of numerous tax sweeteners, including for rum companies, producers of wooden arrow, and racetrack owners. TCS’s analysis of the rum giveaway can be found here. A longer TCS analysis of the other tax sweeteners extended under the legislation can be found here.

The financial market bailout bill that was enacted earlier this month included a litany of extraneous tax provisions, particularly the so-called "extenders." These arcane provisions benefit a range of disparate interests, such as manufacturers of children’s wooden arrows, television and movie productions, and rum distillers. That last one has generated some controversy. White House Deputy Press Secretary Tony Fratto and others argued that the "rum tax" provision would provide funding just to the Puerto Rican and U.S. Virgin Island governments, and not to distillers. However, as USVI documents chronicle, the Diageo agreement reveals that the island governments are merely middle men before half of the money passes on to the rum distillers. For example, currently Cruzan in USVI gets 35% of the excise tax revenue generated by their rum sales in the U.S.

For many years, rum imported to the U.S. was subject to a $10.50 excise tax per proof gallon. For deficit reduction purposes, the excise tax was increased in 1985 and again later to its current level of $13.50. Under long-standing U.S. law, Puerto Rico and U.S. Virgin Islands are entitled to a $10.50 "cover over," or rebate on the excise taxes. The U.S. has routinely extended a "temporary" additional cover over of $2.75 (total $13.25), leaving only 25 cents going into the U.S. Treasury. The most recent extension passed in the financial markets bailout bill was retroactive to January 1, 2008 (the date of the previous extension’s expiration) and extends through December 31, 2009. According to a Joint Committee of Taxation analysis, the two year increase to the $13.25 cover over rate will cost taxpayers more than $192 million.

Finally, despite the deal moving forward, not everyone in USVI is happy with the deal. USVI Senator Neville James said, "To give the people's money away to a foreign company replete with cash and equity is mind-boggling. There is economic development and then there's giving away the ranch." Neville concluded by saying that, "These flat giveaways of excise tax rebates create a cause for concern. The agreement is simply too one-sided against the territory. Free project, free property, free tax exemptions and the people's money force me to say -- so much for our negotiating skills.”

Rum distillers and their allies try to hide the fact that they are receiving direct taxpayer subsidies from the way the rum excise tax cover over has been implemented. But the Diageo/USVI agreement makes clear that U.S. taxpayers are about to become unwitting silent investors in a $250 million rum distillery in St. Croix and that $2.1 billion of tax revenues will be benefitting Diageo’s bottom line for the next 30-years. Looks like there will be a little bit of all of us ($2.1 billion tax dollars) in the Captain.

The Latest Fluffy obama Discovery

~ Heaviest Element Discovered ~

Research has led to discovery of the heaviest element yet known to science. The new element, Governmentium (Gv), has one neutron, 25 assistant neutrons, 88 deputy neutrons and 198 assistant deputy neutrons, giving it an atomic mass of 312.These 312 particles are held together by forces called morons, which are surrounded by vast quantities of lepton-like particles called peons.

Since Governmentium has no electrons, it is inert; however, it can be detected because it impedes every reaction with which it comes into contact. A minute amount of Governmentium can cause a reaction that normally takes less than a second to take as long as 4 years to complete.

Governmentium has a normal half-life of 2-6 years; it does not decay, but instead undergoes a reorganization in which a portion of the assistant neurons and deputy neurons exchange places. In fact, Governmentium's mass will actually increase over time, since each reorganization causes more morons to become neurons, forming isodopes. This characteristic of moron promotion leads some scientists to believe that Governmentium is formed whenever morons reach a critical concentration.

This hypothetical quantity is referred to as critical morass.

When catalyzed with money, Governmentium becomes Administratium, which has half as many peons but twice the number of morons. Poisoning by this metal is lethal at small doses.

Til Nex'Time....