Archive for June, 2012

Another Half Billion Dollars Wasted….

By: admin
Published: June 29th, 2012

Obama Touts the $400 Million Taxpayer Loan To Solar Company in his weekly address on July 3, 2010….

….”when fully operational these plants will produce millions of state of the art solar panels each year….”

oops…. I guess they will  not… because they just got bankrupt….

Abound Solar, Recipient of $400 Million Loan Guarantee, Shuts Down

Abound Solar, a Colorado thin-film photovoltaic panel startup that snagged $400 million in federal loan guarantees to take on industry leader First Solar, is shutting down and filing for bankruptcy, according to the U.S. Department of Energy.

“Because of the strong protections we put in place for taxpayers, the department has already protected more than 80% of the original loan amount,” Energy Department spokesman Damien LaVera wrote in a blog post Thursday, noting that Abound had drawn down less than $70 million of the loan guarantee. “Once the bankruptcy liquidation is complete, the Department expects the total loss to the taxpayer to be between 10 and 15 percent of the original loan amount.”

So that’s the good news?

The American taxpayers are going to lose “only” $40-$60 million dollars?

Where are those “free” money coming from?

How many families had to work to give you those millions, that you are claiming are well spend?

The average family (two parents, two kids) in 2006 paid 30% tax on their income. That  is from each dollar they earn, they owed the government 30 cents.

They protected us? Instead of losing very large sum of money we lost large sum of money

You are no better than the banksters who are risking and playing with the others people money

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Daily Readings 06-29-2012

By: admin
Published: June 29th, 2012

WHY DON’T YOU MIND MY OWN BUSINESS?

The fatal flaws of Obamacare

The Court’s ruling has eliminated three of the fatal flaws of Obamacare that I wrote about, but not all of them. The law has survived its constitutional challenge, but it is very likely to fail when it comes to being put into practice, if it is not overturned by a new Congress first. Here’s a recap of the remaining fatal flaws as I see them, in the light of today’s decision:….

What DC Schools Can Teach Us about Obamacare

What’s Next After the Obamacare Ruling?

With the Supreme Court ruling on President Obama’s health care law, everyone is wondering what’s next for big government. Here are some ideas for federal policymakers to consider:

Federal Broccoli Act of 2013: Eat your broccoli, else pay the IRS $1,000.

Federal Recycling Act of 2014: Fill your blue box and put on the curb, else pay the IRS $2,000.

Federal Green Car Act of 2015: Make your next car battery powered, else pay the IRS $3,000.

Federal Domestic Jobs Act of 2016: Don’t exceed 25 percent foreign content on family consumer purchases, else pay the IRS $4,000.

Federal Obesity Act of 2017: Achieve listed BMI on your mandated annual physical, else pay the IRS $5,000.

Federal National Service Act of 2018: Serve two years in the military or the local soup kitchen, else pay the IRS $6,000.

Federal Housing Efficiency Act of 2019: Don’t exceed 1,000 square feet of living space per person in your household, else pay the IRS $7,000.

Federal Population Growth Act of 2020: Don’t exceed two children per couple, else pay the IRS $8,000.

USDA suggests food stamp parties, games to increase participation

While spending on the food stamp program has increased 100 percent under President Barack Obama, the government continues to push more Americans to enroll in the welfare program.

Senate-Passed Farm Bill Is 80 Percent Food Stamps

Nearly 80 percent of the nearly $1 trillion Farm Bill will fund an expanded food stamp program that is projected to offer increased benefits long after economists expect the economy will have recovered.

Economists See ‘Lengthened Eligibility Period for Unemployment Benefits’ As Factor in High U.S. Unemployment

The Organization for Economic Cooperation and Development, a international group of economists based in France, says the slow economic recovery and record long-term unemployment in the United States may lead to chronic “structural” unemployment – the type of unemployment that is always present and immune to periods of boom or bust.

OECD economists, in a new report, blamed two factors for the persistently-high, long-term unemployment in the U.S. — poorly designed government benefits and a poor economic recovery.

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Happy Dependence Day, America!

By: admin
Published: June 28th, 2012

Today we all became dependent on the federal government to tell us what we can or cannot do

Today the supreme court of the USA reaffirmed that the government has a claim over you and your life as an individual

Today they ruled that it is perfectly fine, if the government tells you that you must buy something from a private or government entity and if you refuse for whatever reason, the government   can penalize you

Today they told us, that we are too stupid to make decisions for ourselves and the government is better at decision making for millions and millions of people no mater what the individuals circumstances may be…

Today the dictator in the White House will celebrate, because another idea of his Utopian plan for America was reaffirmed by the SCOTUS

Today should be a wake up call for the people who care for their children

Today should be the day to call your friends and family and explain to them, how did they lost their freedoms to the big government

Today should be the day to urge them to vote Obama out in November

If  we do not do that this coming  November,  next year I will greet you with another  “Happy” Dependence day!

That is, if there will still  be USA and a first amendment allowing me to post my opinions on the internet…..

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Study: More Than Half a Trillion Dollars Spent on Welfare But Poverty Levels Unaffected

By: admin
Published: June 26th, 2012

From CNSNews
By Matt Cover
June 25, 2012

“The vast majority of current programs are focused on making poverty more comfortable … rather than giving people the tools that will help them escape poverty.”

The federal government is not making much headway reducing poverty despite spending hundreds of billions of dollars, according to a study by the libertarian Cato Institute.

Despite an unprecedented increase in federal anti-poverty spending, the national poverty rate has not declined, the study finds.

“[S]ince President Obama took office [in January 2009], federal welfare spending has increased by 41 percent, more than $193 billion per year,” the study says.

Federal welfare spending in fiscal year 2011 totaled $668 billion, spread out over 126 programs, while the poverty rate that remains high at 15.1 percent, roughly where it was in 1965, when President Johnson declared a federal War on Poverty.

In 1966, the first year after Johnson declared war on poverty, the national poverty rate was 14.7 percent, according to Census Bureau figures. Over time, the poverty rate has fluctuated in a narrow range between 11 and 15 percent, only falling into the 11 percent range for a few years in the late 1970’s.

The federal poverty rate is the percentage of the population below the federal poverty threshold, which varies based on family size.

While the study concedes that some of the increased spending under Obama is a result of the recession and the counter-cyclical nature of anti-poverty programs, it also finds that some of the increase is deliberate, with the government having expanded eligibility for welfare programs.

In fiscal year 2008, anti-poverty spending was $475 billion. In fiscal year 2009, when Obama took office, it had risen to $590 billion.

“But the dramat­ically larger increase also suggests that part of the program’s growth is due to conscious policy choices by this administration to ease eligibility rules and expand caseloads,” the Cato report says. “For example, income limits for eligibility have risen twice as fast as inflation since 2007 and are now roughly 10 percent higher than they were when Obama took office.”

In fact, the study points out that according to the administration’s own projections, federal welfare spending is unlikely to decline even after the economy recovers – further evidence that not all of the increase in spending is recession-related.

read the rest here

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Government wants more people on food stamps

By: admin
Published: June 26th, 2012

America. Land of the free(loaders) and home of the brave.

From CNN Money
By Tami Luhby @CNNMoney
June 25, 2012: 5:17 AM ET

More than one in seven Americans are on food stamps, but the federal government wants even more people to sign up for the safety net program.

The U.S. Department of Agriculture has been running radio ads for the past four months encouraging those eligible to enroll. The campaign is targeted at the elderly, working poor, the unemployed and Hispanics.

The department is spending between $2.5 million and $3 million on paid spots, and free public service announcements are also airing. The campaign can be heard in California, Texas, North Carolina, South Carolina, Ohio, and the New York metro area.

“Research has shown that many people — particularly underserved seniors, working poor, and legal immigrants — do not understand the requirements of the program,” said Kevin Concannon, a USDA under secretary.

read the rest here

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Green company creates three jobs in three years, gets another $80 million from DOE

By: admin
Published: June 26th, 2012

From Washington Examiner
by Joel Gehrke

Department of Energy officials gave a New Hampshire-based biofuel company access to $80 million for a Michigan project that has already fallen short of job creation expectations, despite receiving another $40 million in state and DOE subsidies.

“In September 2008, Mascoma [Corp.] pledged 70 jobs at the plant by the end of 2012. On Feb. 29 of this year, Mascoma reported to the MEDC that only three jobs had been created by the grant,” the Capitol Confidential (Mich.) reports today.”The company has been given the full $20 million from the state.”

Mascoma, a renewable energy company that specializes in cellulosic ethanol, received another $20 million for research and development from the Energy Department in 2008.

The company warned the federal government, in its SEC filing, that it has “no experience in the markets in which we intend to operate” — which perhaps explains why it only created three jobs from 2008 to 2011, despite promising to create 70 jobs, according to Capitol Confidential. That means that the Michigan government and DOE, in combining to give the company $40 million in 2008, spent $13.3 million on each job.

Even so, DOE signed an $80 million cooperative agreement with Mascoma in December, 2011. “Biofuels hold great potential, not only for reducing our dependence on foreign oil, but also for creating new jobs and economic opportunities for America’s rural communities,” Valerie Reed, the Acting Biomass Program Manager in Office of Energy Efficiency & Renewable Energy of the DOE said at the time.

Biofuels, in general, may ‘hold great potential’ for job creation, but what about creating three jobs in three years suggests to DOE that Mascoma in particular should receive another $80 million in taxpayer money?

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Employment, Italian Style

By: admin
Published: June 26th, 2012

From WSJ
Updated June 25, 2012, 7:27 p.m. ET

The rules and burdens that explain Europe’s economic crisis.

Prime Minister Mario Monti has issued a new “growth decree” to revive Italy’s moribund economy. Among other initiatives, the 185-page plan proposes discount loans for corporate R&D, tax credits for businesses that hire employees with advanced degrees, and reduced headcount at select government ministries.

Will any of this solve Italy’s economic problems? Only in the sense that one could theoretically drain Lake Como with a ladle and straw. Allow us, then, to illustrate why Italy’s economy stagnates.

Imagine you’re an ambitious Italian entrepreneur, trying to make a go of a new business. You know you will have to pay at least two-thirds of your employees’ social security costs. You also know you’re going to run into problems once you hire your 16th employee, since that will trigger provisions making it either impossible or very expensive to dismiss a staffer.

But there’s so much more. Once you hire employee 11, you must submit an annual self-assessment to the national authorities outlining every possible health and safety hazard to which your employees might be subject. These include stress that is work-related or caused by age, gender and racial differences. You must also note all precautionary and individual measures to prevent risks, procedures to carry them out, the names of employees in charge of safety, as well as the physician whose presence is required for the assessment.

Now say you decide to scale up. Beware again: Once you hire your 16th employee, national unions can set up shop. As your company grows, so does the number of required employee representatives, each of whom is entitled to eight hours of paid leave monthly to fulfill union or works-council duties. Management must consult these worker reps on everything from gender equality to the introduction of new technology.

Hire No. 16 also means that your next recruit must qualify as disabled. By the time your firm hires its 51st worker, 7% of the payroll must be handicapped in some way, or else your company owes fees in-kind. During hard times, your company may apply for exemptions from these quotas—though as with everything in Italy, it’s a toss-up whether it’s worth it after the necessary paperwork.

Once you hire your 101st employee, you must submit a report every two years on the gender dynamics within the company. This must include a tabulation of the men and women employed in each production unit, their functions and level within the company, details of compensation and benefits, and dates and reasons for recruitments, promotions and transfers, as well as the estimated revenue impact.

The system does allow certain exemptions—provided your company stays small, or you hire the right gender or in certain areas. Industrial and security firms are exempt from paying into the national fund for temporary unemployment if they have 15 employees or fewer; retail and tourism companies don’t have to start contributing until they hire their 51st worker; and trade companies are exempt until they hire their 201st employee.

Here’s another loophole you might try to jump through: Businesses currently receive tax credits worth up to €15,200 per year per new permanent-contract hire—that being for new employees who are also women or under the age of 35 and live in the regions of Abruzzo, Molise, Campania, Basilicata, Puglia, Calabria, Sardinia and Sicily.

Businesses with no more than 250 employees may also still be enjoying their three-year profit-tax holiday, which was granted in 2010 for small and medium-sized firms that reinvest their profits in forging “networks” for “innovation” with other small businesses nearby.

All of these protections and assurances, along with the bureaucracies that oversee them, subtract 47.6% from the average Italian wage, according to the OECD. Two-thirds of that bite comes before payroll, meaning many Italian workers are unaware of their gross cost to employers.

But you as the employer are aware of them, which may explain the temptation to stay small and keep as much of your business as possible off the books. This gray- and black-market accounts for more than a quarter of the Italian economy. It also helps account for unemployment at a 12-year high of 10%, and GDP forecast to contract 1.3% this year.

Still, who knows: With any luck, you may discover a loophole in Mr. Monti’s new growth decree that will allow you to hire a few more employees without incurring too many costs—provided, one assumes, that all of the new hires are disabled, blue-eyed Sardinians under the age of 35.

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