This'n'That; June Eighteenth[Thugocracy;Laffer]

"Clown Prince" obama Certified
Just Revealed:  The obama regime has been certified a third-world thugocracy! The website www.thugocracies.org/government/chicago_style.htp  announced the certification in the wake of "Clown Prince" obama's demand--without Constitutional authority or legal precedent--that BP set aside $20Billion in an escrow account to buy the votes of those affected by the Gulf oil spill.  The "Clown Prince" also demanded the oil company put up another $100Million to compensate those oil industry workers put out of work by obama's asinine drilling moratorium--again, to buy votes.  These accounts are to be administered by Kenneth Feinberg, obama's "pay czar." Mr Feinberg has long been suspected a member of the group that SELECTED obama to be ELECTED by the welfareRATs and KoolAid drinkers.  This group formulates most--if not all--of the "Clown Prince's" thoughts and actions!! 
    This would have been a great place for BP CEO Tony Hayward to hand the "Clown Prince" his "ass on a silver platter!!"  Mister Hayward might have:

1. Instructed his executive secretary to notify him upon the arrival of a congressional subpoena, press on with the disaster mitigation and ignore the administration until the subpoena's arrival.
2. Issued a press release to the investors in Europe on the "Clown Prince's" plan and how this would affect the pensioners whose retirement  funds were at least partially invested in BP stock.
3. IMMEDIATELY issue a 'special dividend,' maybe 125% of the normal quarterly dividend.
4. IMMEDIATELY assure investors that the regular quarterly dividend would be paid on schedule.
5. Force the congress to create legislation to force BP to create the aforementioned funds; then fight the retroactivity in the courts FOR YEARS.

Obviously, it's best that I NOT be the oil company's CEO!!  Mr Hayward the right thing in 'rolling over' to "Clown Prince" obama's THUG-LIKE demands. 
** Hayward has shown himself to be 'the bigger man!' **

Laffer 'Gets' "Clown Prince" obama!

[At right, the Laffer Curve also shows the relationship between taxes and "Clown Prince" obama's approval rating]

    Arthur Laffer, President Reagan’s favorite economist and creator of the famous Laffer Curve, believes the economy is headed for a “train wreck” in 2011. And he thinks it will be so bad that the current recession look like the good ol’ days by comparison.

1. In a wide-ranging discussion about where the economy is headed, and the fiscal, tax and monetary reasons why, Laffer gives a bleak forecast of where "Clown Prince" obama and his regime are taking the country in the next three years — which he predicts will end with obama’s defeat in 2012.
2. “obama is a fine, very impressive person. He really is. Unfortunately, everything that he is doing in economics is exactly wrong. He is a crappy president,” Laffer said.
3. “Whenever a country is in the throes of spending too much and raising taxes, it’s a fiscal catastrophe in the making and this is what is happening now,” he said.
4. “Crappy,” of course, is a highly-technical economic term that means “socialism doesn’t work.”

[From Mr Laffer's WSJ article:]  Likewise, who is gobsmacked when they are told that the two wealthiest Americans—Bill Gates and Warren Buffett—hold the bulk of their wealth in the nontaxed form of unrealized capital gains? The composition of wealth also responds to incentives. And it's also simple enough for most people to understand that if the government taxes people who work and pays people not to work, fewer people will work. Incentives matter.

    People can also change the timing of when they earn and receive their income in response to government policies. According to a 2004 U.S. Treasury report, "high income taxpayers accelerated the receipt of wages and year-end bonuses from 1993 to 1992—over $15 billion—in order to avoid the effects of the anticipated increase in the top rate from 31% to 39.6%. At the end of 1993, taxpayers shifted wages and bonuses yet again to avoid the increase in Medicare taxes that went into effect beginning 1994."  Just remember what happened to auto sales when the cash for clunkers program ended. Or how about new housing sales when the $8,000 tax credit ended? It isn't rocket surgery, as the Ivy League professor said.
    On or about Jan. 1, 2011, federal, state and local tax rates are scheduled to rise quite sharply. President George W. Bush's tax cuts expire on that date, meaning that:

• The highest federal personal income tax rate will go 39.6% from 35% [an increase of 13%] 
• The highest federal dividend tax rate pops up to 39.6% from 15% [an increase of 164%] 
• The capital gains tax rate to 20% from 15% [an increase of 33.3%] 
• The estate tax rate to 55% from zero. [an incalculable rate of increase!]
• Lots and lots of other changes will also occur as a result of the sunset provision in the Bush tax cuts.

 Til Nex'Time....