Nutter's Washington

#BigOil: The #Obama Boogeyman and Tax Policy

The Administration and many Congressional Democrats are after Big Oil again. In fact, BIG OIL has become Obama’s boogeyman. He raises the subject to divert attention from the failures of his Administration and to create an evil and scary foe for us all. He has to blame some one when things go awry. Four dollar gasoline, it cannot possibly be the fault of his policies.

Yesterday, the U.S. Senate, by a vote of 51-47, failed to invoke cloture on a bill to radically change the tax treatment on certain oil and gas producers. The additional revenues would have been used to fund expired and expiring tax subsidies for renewable and alternative energy sources.

At nearly the same time of the vote, President Obama was presenting his own views, urging Congress to eliminate what he calls favorable, greedy tax treatment for the industry by railing against oil company profits, and petroleum market speculation, although the White House has already conceded there is no direct and immediate linkage between ending oil company taxes and reducing gasoline prices.

#Obama: What is he hiding in a #second term?

President Obama may or not be given another term by the citizens of this country. A second term would be most interesting for what he would attempt to do to address all that ails us. It would also be interesting to see what the opposition would do to thwart his leftward tendencies. If he is re-elected, I do not see much cooperation to get anything done. However, I think we may have seen a version the future and it is troubling.

Earlier this week, Mr Obama was caught on an open microphone after a meeting with the President of Russia. He said in essence that after his re-election he would have "more flexibility" on issues such a missile defense. He needed "patience" and "space" from the Russians. At first this did not bother me but after I saw the video and gave it some thought I find it very troubling. Dishonest. Deceitful, almost. 

What is the President hiding? Why can't he level with the American people? What are his intentions? What are his plans? I do not mean the cheap political class warfare tax the rich rethoric or race baiting involvement into local law enforcement. I mean the security of the country.

I am concerned not only about the national security issue but it raises the entire issue of what else he may do, unilaterally, without popular support?  

I have tried to lay out the facts in these writings and let the reader decide. Watch the video, it is chilling and should bring enormous pause even to the biggest supporters of Mr. Obama. 

#VoterID: Even College Entrance Exams Require a Photo.

While Washington is watching protesters outside the Supreme Court these past few day, an interesting news piece appeared today I think is quite interesting and relevant. It involve the process of identification, a way to establish  who a person is in order for that person to take some sort of action. 

It seems the organizations administrating the  SAT and ACT college-entrance exams will use stricter security measures for test-takers nationwide  starting this year.  Students registering for college admissions tests  will have to upload or mail photos of themselves that will be printed on tickets. The tickets will be checked against a photo identification on the day the test is given.

What a novel idea! Proving your identity. Is not that the same concept certain states are trying to install for a person trying to vote? So, you have to prove your identity to take a college entrance test but it is discriminatory to make someone prove their identify to maintain the integrity of the one of the most important and scared rights of the republic. 

I was wondering, what if a person does not have access to a camera? How can we protect their right? Should the government set up a national camera program? Maybe a tax credit for photo taking? A new agency?

Well it is bizarre, amusing and shows the real intent of those who oppose voter ID laws, which in many instances do not even require a photograph at all. 

Hey, Eric Holder, Mr. Attorney General, are you listening? 

 

#Taxcliff: It is coming up fast and it is coming on strong

Earlier this week I was discussing with a group of Washington types issues that may be considered by Congress this year. Of course, there were the usual suspects of energy, environment, transportation and appropriations. The more or less consensus was that nothing would be accomplished of any consequence until after the election. Nothing.

I noted to the group that tax issues are by far the largest single legislative item to face the Congress. I just do not mean “tax reform” but the entire revenue impact of the tax system and how it will affect the budget and the economy. This Administration and the Congress have deferred important decisions for years but I am not so sure it can be done again. At some point, decisions have to be made.  The election-both Congressional and Presidential- will determine the outcome:

#RyanBudget: At Least He Is Trying

My parents always tried to tell me to do my best. It did not matter all the time if I succeeded or not but it was important to try and try hard. I am struck these days that only a few of our national politicians are even trying.

Paul Ryan, Chairman of the House Budget Committee, is one of those guys who is trying. He learned the lesson. He introduced a budget for the United States, which sets spending levels for the next fiscal year. It is not perfect, it may be politically risky, it may even be wrong–headed in certain areas but at least he is meeting his obligation. It is the law of the country that Congress should enact a Budget each year. I salute him for that. He believes like most economists, political leaders, businesspeople and even the guy on the street that federal spending is out of control and the federal debt mounting up is worse than the old ticking time bomb.

#Gasoline: #GasPrices are ouch and a political punch

I paid $4.01 a gallon this morning for gasoline. Unleaded, non premium. I think the octane was like 35 I barely sneezed and the meter was over 20 bucks!. I mean, it was loony. I thought the digital counter would short itself out it was flipping so fast.

So, th President says he can not do anything about the price of gasoline. It is  market forces. (funny how he uses markets when it suits him but not when it suits the government to control markets)  He says he has done a great job, as oil production is up. Yes, I would say he has done enough all right. Production is up but in no way due to policies of his Administration. The price of gas has an economic impact because for many of our citizens paying more reduces disposal income. It may be a $100 a month but for many it is a tidy sum. Rising gas prices also gives a mental benchmark and impression much like the DJIA or the unemployment rate. Over 4 bucks a gallon is not a good impression. 

The President is right. The country is too dependent on fossil fuels but he is wrong to think there is much that can be done about it anytime soon, and I mean like the next 20 years. Renewable fuels are part of the solution but it will take time, great technological advances, and better economics. He does not get or perhaps even understand that part.

I do not know what the price of gas will be come Labor Day. I do know Mr. Obama is part of the problem and has to take the responsibility for his anti-drilling policies, EPA and Department of Interior actions and grand gestures like being against the Keystone XL pipeline. The public, who is feeling the bite, certainly gets it. 

 

#Tax #Extenders: Alive after Senate Colloquy?

Yesterday there was a colloquy on the Senate floor among Democrat Leader Reid, Republican Leader McConnell, Finance Committee Baucus and the Committee’s senior Republican Hatch. A colloquy is essentially a rehearsed speech among members to convey information, establish some legislative history or clarify some point.

In this case, the colloquy was about the expiring tax provisions, which are usually extended, year-by-year. There are about 150 expiring or expired provisions now. The provisions were enacted for various reasons over the years, some because they can provide a temporary boost for a certain activity or provide some kind of targeted tax relief to this or that taxpayer or provided some political sop to a well-connected group. Mostly they are enacted on a “temporary basis” because they have a budgetary impact and making them permanent has significant impact on the budgetary process. 

#Obama, #Romney, #Santorum, #Gingrich, #Paul: The Winner will be the Least of the Worst.

Republican primaries continued last night. Rick Santorum won in the States of Alabama and Mississippi. He received about a third of the vote. Mitt Romney finished in third place but did not lose much of his delegate lead. The trek continues.

The gentleman who will next lead the country will be the least of the worst. No one of the Republican side seems to have generated enthusiastic support and in many cases do not seem really qualified to lead the country, to address the problems which in spite of a slightly improving over all economy must be reckoned with. Of course, the current occupant of the White House has, indeed, a dismal record and left the building except to campaign. The prospect of four more years of the current group’s hands on the throttle is chilling. 

#GasPrices, #VoterID and #Afganistan: Three Questions to Ponder

Spring is here, more or less. The House of Representatives is in recess with the Senate muddling through on a transportation bill. That means it is time to ask a few questions:

Will high gasoline prices impact the election? The price of gasoline for unleaded regular hit $3.99 per gallon where I live. I do not drive much-about 250 miles a week, most of it commuting. It costs about $50 to $60 a week up from $40 a week not long ago. Since the summer driving season is coming up, gas prices are going to continue to escalate.

I have a discussion on gas prices frequently with friends as I contend high gas prices do have an impact economically and psychologically. For those who drive much more than I do, it has an impact on the family budget. It is also a highly visible “must have item” which consumes disposable income. Forget going to Red Lobster, the Cineplex, or buying that new lawnmower when budgets get squeezed.

#Taxes: Time to #File and Time for #Taxsimplification.

It is almost the middle of March and time to really focus on the old tax return. It is an annual ritual for almost all working men and women in this country, even though about 50 percent of people do not even pay federal income taxes. Filing is a requirement, particularly if you want to get back some of those juicy refundable tax credits.

Paying taxes is our burden for liberty, opportunity and the chance to have our income re-distributed by the government.