Category Archives: Jobs

Econ, Jobs

Is your state a “death spiral” state?

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Are private sector workers are outnumbered by folks dependent on government in your state? If so don’t buy a house in that state, rent.

The list from the worst, New Mexico with a 1.53 ratio to Ohio with a 1.00 ratio:

New Mexico, Mississippi, California, Alabama, Maine, New York, South Carolina, Kentucky,Illinois, Hawaii, Ohio.

Forbes:

Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Don’t put it in a state at high risk of a fiscal tailspin.

Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers.

If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent.

If you have money in municipal bonds, clean up the portfolio. Sell holdings from the sick states and reinvest where you’re less likely to get clipped. Nebraska and Virginia are unlikely to give their bondholders a Greek haircut. California and New York are comparatively risky.

Two factors determine whether a state makes this elite list of fiscal hellholes. The first is whether it has more takers than makers. A taker is someone who draws money from the government, as an employee, pensioner or welfare recipient. A maker is someone gainfully employed in the private sector.

Let us give those takers the benefit of our sympathy and assume that every single one of them is a deserving soul. This person is either genuinely needy or a dedicated public servant or the recipient of a well-earned pension.

But what happens when these needy types outnumber the providers? Taxes get too high. Prosperous citizens decamp. Employers decamp. That just makes matters worse for the taxpayers left behind.

Let’s say you are a software entrepreneur with 100 on your payroll. If you stay in San Francisco, your crew will support 139 takers. In Texas, they would support only 82. Austin looks very attractive.

Ranked on the taker/maker ratio, our 11 death spiral states range from New Mexico, with 1.53 takers for every maker, down to Ohio, with a 1-to-1 ratio.

The taker count is the number of state and local government workers plus the number of people on Medicaid plus 1 for each $100,000 of unfunded pension liabilities. Sources: the Bureau of Labor Statistics, the Kaiser Commission on Medicaid and a study of state worker pensions done in 2009 by two academics, Joshua Rauh and Rovert Novy-Marx. Professor Rauh estimates that the shortage in pension funding is on average a third higher today.

The second element in the death spiral list is a scorecard of state credit-worthiness done by Conning & Co., a money manager known for its measures of risk in insurance company portfolios. Conning’s analysis focuses more on dollars than body counts. Its formula downgrades states for large debts, an uncompetitive business climate, weak home prices and bad trends in employment.

Conning rates North Dakota the safest state to lend money to, Connecticut the most hazardous. A state qualifies for the Forbes death spiral list if its taker/maker ratio exceeds 1.0 and it resides in the bottom half of Conning’s ranking.

Jihad, Jobs, True Talking Points

“Palestinians” have the 8th highest obesity rate in the world; third highest among women

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“Palestinians”(Southern Assyrian’s) who live in the Gaza Strip and the Wast Bank of Israel  have the 8th highest obesity rate in the world, and the third highest among women according to statistics collected by The World Health Organization (WHO) and published in The Economist magazine.

Far left and antisemitic activists often claim that Israel cuts off food and other humanitarian supplies to Gaza and that as a result Gaza’s go without food, clothing and suitable water. Ironically the largest contributor of humanitarian aid to Gaza is Israel.

2012 Primary, Econ, Education, Elections have Consequences, Health Law, Jobs, Obama

Colleges start cutting professors work hours because of Obamacare

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Elections have consequences. In a future post we will list the job layoffs that have resulted from Obama’s re-election and the slew of tax increases businesses and individuals will be paying as of January 1st. The number of layoffs are staggering and keep growing.

Companies that have employees work more than 28 hours a week are now considered full time by the law and employers must buy federally approved health insurance, which Obamacare has caused premiums to rise by $2,500 per year because of it’s mindless one sized fist all coverage and new taxes on insurance and health care. If employers do not provide the insurance they will have to pay a tax penalty….unless employees get less than 28 hours a week.

Welcome to mass layoffs and hiring of part timers only.

The first ones hit were not just the evil capitalists, this counts for most everyone, including university professors who are now feeling the heat. Radicalized academia actively supported and campaigned for Obama. Enjoy.

I am running into all sorts of people who voted for Obama again that had no idea about “Taxmageddon“. Most are shocked when they learn the truth, some just go into denial and even deny that anyone is getting laid off. Some even believe that we will have free health care and “gubmint” will just pay for it.

Breitbart News:

Pennsylvania’s Community College of Allegheny County (CCAC) is slashing the hours of 400 adjunct instructors, support staff, and part-time instructors to dodge paying for Obamacare.

“It’s kind of a double whammy for us because we are facing a legal requirement [under the new law] to get health care and if the college is reducing our hours, we don’t have the money to pay for it,” said adjunct biology professor Adam Davis.

On Tuesday, CCAC employees were notified that Obamacare defines full-time employees as those working 30 hours or more per week and that on Dec. 31 temporary part-time employees will be cut back to 25 hours. The move will save an estimated $6 million.

“While it is of course the college’s preference to provide coverage to these positions, there simply are not funds available to do so,” said CCAC spokesperson David Hoovler. “Several years of cuts or largely flat funding from our government supporters have led to significant cost reductions by CCAC, leaving little room to trim the college’s budget further.”

The solution, says United Steelworkers representative Jeff Cech, is that adjunct professors should unionize in an attempt to thwart schools seeking similar cost-savings efforts from avoiding Obamacare.

“They may be complying with the letter of the law, but the letter of law and the spirit of the law are two different things,” said Mr. Cech. “If they are doing it at CCAC, it can’t be long before they do it other places.”

Under the new CCAC policy, adjunct professors will only be allowed to teach 10 credit hours a semester. Adjuncts are paid $730 per credit hour.

That is $14,600 dollars a year. You have a Masters or a PhD and you are just a tick above the poverty level. Good luck paying your student loans. How can you attract the best teachers when you can make more money working at Walmart?

2012 Primary, Communications Theory, Econ, Gangsta Govt, Jobs, Obama, Taxes, True Talking Points

Democrats hope for return of the 55% “death tax” in 2013

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Democrats love the death tax. It creams most small farms and small businesses while their super rich corporate donors get off the hook.  It makes family farms easy targets for big corporate buyers. It also punishes larger companies for being privately held. It is yet another tax that the little guy has to pay while the mega-corporate interests that run the Democratic Party benefit from.
Fox News:

Ranchers, farmers brace for ‘death tax’ impact

Rancher Kevin Kester works dawn to dusk, drives a 12-year-old pick-up truck and earns less than a typical bureaucrat in Washington D.C., yet the federal government considers him rich enough to pay the estate tax — also known as the “death tax.”

And with that tax set to soar at the beginning of 2013 without some kind of intervention from Congress, farmers and ranchers like Kester are waiting anxiously.

“There is no way financially my kids can pay what the IRS is going to demand from them nine months after death and keep this ranch intact for their generation and future generations,” said Kester, of the Bear Valley Ranch in Central California.

Two decades ago, Kester paid the IRS $2 million when he inherited a 22,000-acre cattle ranch from his grandfather. Come January, the tax burden on his children will be more than $13 million.

For supporters of a high estate tax, which is imposed on somebody’s estate after death, Kester is the kind of person they rarely mention. He doesn’t own a mansion. He’s not the CEO of a multi-national. But because of his line of work, he owns a lot of property that would be subject to a lot of tax.

“Our number one goal is to repeal the estate tax, to get rid of it, not have it for every generation, when I die and my kids die and so on,” he told Fox News. “For everyone to have to re-purchase the ranch or farm over and over for each generation, that’s inherently unjust. So what we’re doing is asking our politicians to understand that and repeal the estate tax.”

That, however, is unlikely. Currently, the federal government taxes estates worth $5 million dollars and up at 35 percent. When the Bush-era tax rates expire in January, rates increase to 55 percent on estates of $1 million or more. While some Republicans want to eliminate the death tax entirely, President Obama has proposed a 45 percent rate on estates of $3.5 million and up.

“The idea behind the estate tax is to prevent the very wealthy among us from accumulating vast fortunes that they can pass along to the next generation,” said Patrick Lester, director of Federal Fiscal Policy with the progressive think tank — OMB Watch. “The poster child for the estate tax is Paris Hilton — the celebrity and hotel heiress. That’s who this is targeted at, not ordinary Americans.”

Editor’s Note – Wait just a minute. Why can’t Paris Hilton’s family pass their fortune on to their children? The Hilton’s provide a valuable service and also provide tens of thousands of good jobs. They also pay massive amounts on taxes and give to charities. Why should they be targeted for punishment by the federal government?

Where did we adopt the tyrannical Marxist idea that just because someone has it, it then becomes another’s right to take it? Do we have the rule of law or the law of the jungle?

The Democrats do not take that money to pass out to you and me, they spend the money over seas or hand it out to campaign donors and cronies just as they have dome in the emerging Green Corruption scandal.

Isn’t the “American Dream” to pass on something to your kids so they can do better than you? This is how radical the Democratic Party leadership has become.

More from Fox News:

But according to the American Farm Bureau, up to 97 percent of American farms and ranches will be subject to an estate tax where the exemption is set at $1 million. At that rate, the federal government will pocket $40 billion in 2013 and up to $86 billion in 2021. That contrasts with just $12 billion this year.

Energy Policy, Jobs, Obama, Pay to Play, Treason, True Talking Points

Lawsuit Alleges “Corruption and Negligence” at Department of Energy

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More about “Green Corruption” and kickbacks. Welcome to energy policy, Chicago style.

Via Heritage:

A lawsuit filed in federal court on Wednesday alleges mass favoritism in the Department of Energy’s decisions to award federal grants to major car companies to develop electric vehicles, according to a legal complaint obtained by Scribe.

The plaintiff, San Francisco-based XP Technology, says in a complaint filed in the U.S. Court of Federal Claims that “corruption and negligence” pervaded DOE’s decision to award loan guarantees to Ford, Nissan, Tesla Motors, and Fisker Automotive for the development of electric vehicle technology.

“Investigations have shown that DOE officials intentionally stalled numerous applicants’ reviews in order to force them out of business and protect favored players,” the complaint claims. It adds:

XP has received information demonstrating that the unprecedented number of failures in the DOE program relative to what DOE officials have claimed to be “the most expensive and extensive due diligence in history” is explained by manipulated reviews, in the due diligence effort, on behalf of what the United States Government Accountability Office (GAO) investigations found to be “favoritism” in published investigation reports. A senate ethics investigation states, in published reports, that “negligence and mismanagement by DOE officials” was a regular occurrence.

XP, which applied for federal backing under the Advanced Technology Vehicle Manufacturing program, “is seeking to have applicants who were “targeted” receive fair re-reviews, in a transparent manner, if they so desire.”

In addition to an unfair selection process, XP alleges that DOE retaliated against the company for reporting evidence of negligence and corruption incorporated into the various investigations into the ATVM program.

After XP staff first reported the incidents, becoming “whistle-blowers”, by reporting the evidence to GAO, Justice Department, The White House Press Office and The Senate Committee on Energy and Natural Resources, among others, they received threats and personal attacks. Over time, the volume of third party investigations, which have validated the charges of questionable acts by DOE staff have become voluminous.

Read the full complaint HERE.

2012 Primary, Econ, Jobs, Obama, Pay to Play, True Talking Points

Obama’s IRS targeting small business, less focus on mega-corps

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Breitbart News:

The Internal Revenue Service (IRS) recoups $702 in taxes for every hour it spends auditing small businesses, versus $9,173 an hour for auditing large corporations. But under Barack Obama, audits of small and medium-sized businesses have skyrocketed.

So says Peter Schweizer, President of the Government Accountability Institute:

According to IRS statistics, from 2009 to 2011, the coverage rate (number of audits as a percentage of total returns filed) for corporations with assets between $10 million and $50 million has increased 32 percent. The coverage rate for corporations with assets between $50 million and $100 million has increased at the same rate. Some businesspeople file individual returns, and those with incomes higher than $1 million have experience a 94 percent increase in their coverage rate, and a 29 percent increase in the actual number of exams since 2009. Those with incomes $200,000 and higher have seen a 36 percent increase in their coverage rate.

We are not surprised. As we have reported many times before the leadership of the Democratic Party has no interest in taxing the mega-corporations and super rich, rather they are targeting small to medium sized domestic businesses and upper middle class wage earners.

Political Arena:

Democrats want to tax the rich?

This is perhaps the biggest false narrative of all. The Democratic Party leadership has never been interested in taxing the very rich. They have been “taxing the rich” for 50 years. Is it just a coincidence that they just happened to keep missing the target? President Obama gave the speech at Google, which paid 2.4% federal tax on 3.1 billion in income. In that speech he trashed the Chamber of Commerce for fighting against raising the tax on most small businesses which actually employ people from 35.5% to 39.9% . In the 2008 elections President Obama railed against Wall Street, but not only did he take more money from Wall Street and “the big banks” and such, but as if to add insult, their executives became the who’s who of those running his administration (LINK – LINK). Keep in mind that CNN once said Obama attacks private equity at 6am and is fundraising with private equity at 6pm. Wall Street and the big banks made more under three years of Obama than they did under eight years of Bush. His Treasury Secretary says that taxes on small businesses must rise so that government doesn’t shrink, and Obama’s new health care taxes target you, not just the rich. All of the stimulus and spending and so forth all in the name of the poor sounded nice, but look who got rich.  Odds are that people who buy into the false narrative know none of this.

2012 Primary, Energy Policy, Jobs, Lies, Obama, Treason, True Talking Points

Promise from the debate broken already: Obama Shuts Down 1.6M Acres to Oil Shale Development

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So much for the “all of the above” policy….

Via Breitbart News and The Hill:

Just two days after President Obama’s re-election, the Obama Interior Department announced a plan to shut down 1.6 million acres of federal land to oil shale development. The land had originally been slated for drilling under President George W. Bush.

“By significantly reducing the acreage of wilderness potentially available for leasing, Secretary Salazar is laying out a creative, thoughtful and more responsible approach in managing some of our most precious resources,” said Bobby McEnaney, senior lands analyst with the Natural Resources Defense Council.

From the debate October 16th, 2012:

OBAMA: That’s the strategy you need, an all-of-the-above strategy, and that’s what we’re going to do in the next four years.

ROMNEY: But that’s not what you’ve done in the last four years. That’s the problem. In the last four years, you cut permits and licenses on federal land and federal waters in half.

OBAMA: Not true, Governor Romney.

ROMNEY: So how much did you cut (inaudible)?

OBAMA: Not true.

Obama debate approved drilling permits
Hey President Obama – What was that you said about how you approved more drilling permits than Bush?
2012 Primary, Jobs, Obama, Treason, True Talking Points

72% of Obama job creation in conservative “Right to Work” states

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Via Breitbart News:

From June 2009 to September 2012, America gained some 2.59 million jobs. That weak recovery was the basis for the Obama re-election campaign. But as it turns out, virtually all of that job creation happened in states that are right-to-work – states in which no industry can force people to join a union in order to work. There are 22 right-to-work states. During that period, those states saw an increase in employment of 1.86 million. That means, according to the National Institute for Labor Relations Research, that “Right to Work states … were responsible for 72% of all net household job growth across the US from June 2009 through September 2012.”

That 72% statistic is all the more stunning when you realize that according to 2010 census numbers, the right-to-work states included in this calculation — which does not include Indiana, since it just went right-to-work — represent just under 40% of the population of the country. Right-to-work states disproportionately create jobs.

President Obama has been a violent opponent of right to work laws. He sees them as an attempt to quash his union buddies – which, of course, is right, since the unions bankrupt states (see Illinois, California). But Obama won re-election on the backs of those who rejected his policies.

2012 Primary, Econ, Health Law, Jobs, Obama, Taxes, True Talking Points

New Tax Hikes Motivating Small Businesses to Sell

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Going Galt.

Wall Street Journal:

A looming increase in the capital-gains tax rate next year is fueling sales of some privately-held businesses.

Many business owners—mostly founders who could gain a lot from a sale—are looking to close deals before next year, when the maximum tax on investment income is scheduled to rise from 15% currently to at least 23.8% on most capital gains, at least for higher-income households. Many sellers intend to convert their equity into retirement funds or just start anew.

“It just made more sense for me to take my chips off the table and go do something else,” said Bert Wolf, 60 years old, who has an agreement to sell his compressed-gas business, Acetylene Oxygen Co. of Harlingen, Tex., before year-end.

Mr. Wolf added that if he waited until after the tax increase to sell, he would have to expand the business at the current rate “for at least 3 or 4 more years to achieve the same after-tax sales dollar.” He is profiting on the sale of his business to PraxairInc., a public company.

“There’s a kind of a panic on to get things done,” said Beatrice Mitchell, co-founder of Sperry, Mitchell & Co. Inc., a New York investment bank that is advising Mr. Wolf on the sale.

The top tax rate will go up at year-end by at least 3.8 percentage points because of a provision in President Barack Obama’s health-care overhaul law. But that will be added onto a top rate that will depend on negotiations between Mr. Obama and Congress after the November election, when they are expected to seek a deal on numerous tax and spending measures.

Mr. Obama and Congress agreed in late 2010 to extend the current 15% capital-gains tax rate through this year. Absent further action, the top capital gains tax rate will rise to 20% on Jan. 1. After adding the extra charge from the health-care law for higher-income households, the maximum tax on investment income would be 23.8%. When combined with the scheduled expiration of some other tax breaks for high earners, the maximum tax on investment income would be as high as 25%.

Many Republican lawmakers want to extend the 15% rate. If they prevail, the maximum tax likely would rise to at least 18.8% because of the health-care charge.

Mr. Obama proposes to let the top capital gains tax rate rise to 20% on income above $250,000 for couples, but hold it to 15% on income below that threshold.

But here is the rub, most “couples” that make 250k aren’t the one’s who pay these taxes, small businesses and investors do. It directly chases jobs and investment out of the country.

2012 Primary, Econ, Jobs, Lies, True Talking Points

Obama STILL isn’t attending Jobs Council monthly calls or meetings! (Video)

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Via our pal Jim Hoft:

Robert Wolf, a member of Barack Obama’s Jobs Council and a top campaign donor, admitted this morning that Barack Obama does not even join in on the regularly scheduled calls. The calls are held every two weeks.

In July, the administration told reporters Barack Obama was too busy to meet with his jobs council.

 

2012 Primary, China, Dick Morris, Jobs, Lies, Obama, Pay to Play, Treason, True Talking Points

New Political Ad: China

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Also keep in mind that government is now a major owner of GM and Chrysler/Jeep, and recently both have announced that they are moving manufacturing to China.

GM Brags: Since bailout 70% of our manufacturing outside of US. Announced GM R&D moving to China (video)

Jeep throws in the towel, moving production to China

[/sarcasm] But I thought that the bailout’s were about keeping jobs here……

2012 Primary, Alarmism, Budget, Energy Policy, Jobs, Lies, Pay to Play, Treason, True Talking Points

Green Corruption: Over 80% of “Green Jobs” money went to Obama donors, 50 “green” companies going under…

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In a nutshell: 150 more Obama Administration emails released showing how green energy money was steered to Obama cronies with sham junk bond companies. The list of green jobs companies gone or going under grows to 50. That is your money folks.

With so many of these green energy boondoggles it looks like this: Obama gives big taxpayer money to a fund raiser who is an owner in a “green energy company”. Said owners pay themselves in a big way, give big money to Democrats and go out of business.

While the administration claims that this was all science and no politics, a slew of leaked emails show the corruption and influence peddling.

Our friends Christine Lakatos at Green Corruption and Marita Noon at Townhall  have been tracking the list of green jobs boondoggles that are going out of business after paying themselves lavishly with your money. That list went from 15, to 16, to 36  and now 50 green jobs enterprises paid for with your money that either have shut down or are about to. See that list here:

http://greencorruption.blogspot.com/2012/10/green-alert-tracking-president-obamas.html

Via the research from Lakatos and Noon, the Daily Caller is now running with this story, as is former Speaker of the House Newt Gingrich:

Newt comments on the erupting “green corruption”story after he discusses the emails showing that the order to let or embassy staff die was from the White House.

Erupting indeed. Emails showing the influence peddling and corruption keep coming out.

The House Oversight Committee has released a new set of 150 emails that show how your money was steered to cronies in the name of green jobs. More on this story from Marita Noon in today’s Townhall (excerpt):

The 1705 loan guarantee program had 460 applicants, but only 7% were approved—26 projects were funded. Of those 26 projects 22 were junk-bond rated—meaning private investors wouldn’t fund them. So why did we, the taxpayers?

Our research showed that at least 90% of the projects had close ties to the White House and other high ranking Democrats. Despite the obvious connection, President Obama has repeatedly denied any involvement—preferring to blame “career bureaucrats” who could take the fall with no political consequence.

In March, Energy Secretary Steven Chu, testified that, “We looked at the loans on their own merits.” Also, back in November 2011, he said: “I am aware of no communication from White House to Department of Energy saying to make the loan or to restructure.”

Just last week, on October 26, President Obama affirmed Chu’s position when he said: “Decisions made in the loan program office are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.”

However, late Wednesday, the House Committee on Oversight and Government Reform released a new report of “over 150 emails that contradict statements by the President, Secretary Chu, and White House and DOE officials.” The emails reveal a series of questionable practices, including coercion, cronyism and, cover ups.

Read the rest HERE.

Says Noon, “The Obama green energy program is the largest, most expensive, and deceptive case of crony capitalism in American history”.

See the rest of our green jobs scam and Solyndra coverage HERE.

UPDATE – Even MORE from the House Oversight Committee: Obama Administration lying about the influence peddling; caught again with more of their own emails.

House Oversight Committee:

INTERVIEW EXCERPT FROM KUSA Channel 9 News Denver Colorado’s Kyle Clark:

KYLE CLARK: In a national address, you touted the stimulus money going to Abound Solar – a Colorado company connected to one of your billionaire fundraisers. Now, as you may know, Abound Solar is out of business and under criminal investigation. The jobs are gone and taxpayers are out about 60 million dollars. How do you answer critics who see Abound Solar as Colorado’s Solyndra – a politically connected clean energy company that went under and took our money with it?

PRESIDENT OBAMA: (Laughs) Well, Kyle, I think that if you look at our record that these loans that are given out by the Department of Energy for clean energy have created jobs all across the country and only about four percent of these loans were going to some very cutting-edge industries that are going to allow us to figure out how to produce energy in a clean, renewable way in the future and create jobs in Colorado and all around the country. And some of them have failed but the vast majority of them are pushing us forward into a clean energy direction. And that’s good for Colorado and good for the country. And these are decisions, by the way, that are made by the Department of Energy, they have nothing to do with politics.

Investigative Reporter Todd Shepherd: NOT POLITICAL? EMAILS SHOW WHITE HOUSE DROVE FAILED GREEN-LOAN IN COLORADO

CompleteColorado.com has obtained emails that seem to directly contradict Plouffe’s answer, and also challenge the President’s notion that the DOE’s loan decisions were universally autonomous within the agency. The emails also lend even more credence to the theory that the loan to Abound Solar was political payback to Colorado’s wealthy Democratic benefactor and Gang-of-Four member, Pat Stryker.”

In the above email thread, DOE loan executive Jonathan Silver tells DOE credit advisor Jim McCrea, “You better let him know the WH wants to move Abound forward.” It appears to be a mild scolding to a Treasury advisor, Ian Samuels, who is not moving fast enough to schedule calls regarding Abound.

The second page of the email thread makes mention of “…transaction pressure under which we are all now operating…” This entire email thread happened just a few days before President Obama would hail the government-backed loans as a job creator for Colorado.

2012 Primary, Econ, Jobs, Obama, True Talking Points

Jeep throws in the towel, moving production to China

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Government has made it so it is just too hard to do business here.

[Note: Chrysler/Jeep says that it is building new production facilities overseas such as China, not moving production here to over there….as if that makes a lot of difference…we will see – Editor]

Steve Jobs from Apple lectured Obama on this same subject. Steve Jobs said the same thing that Ronald Reagan said, government is the problem. Jeep got bailed out along with GM, who is also moving production to China.

Washington Examiner:

In another potential blow for the president’s Ohio reelection campaign, Jeep, the rugged brand President Obama once said symbolized American freedom, is considering giving up on the United States and shifting production to China.

Such a move would crash the economy in towns like Toledo, Ohio, where Jeeps are made and supplied, and rob the community of the economic security they thought Obama’s auto bailout assured them.

Obama is such a fan of Jeep that he included a picture of himself speaking at the Toledo plant in his newly released second term agenda binder. In his address to the plant in 2011, Obama said, “I just took a short tour of the plant and watched some of you putting the finishing touches on the Wrangler. Now, as somebody reminded, I need to call it the ‘iconic’ Wrangler. And that’s appropriate because when you think about what Wrangler has always symbolized. It symbolized freedom, adventure, hitting the open road, never looking back.”

Well it appears that the taxpayer bailed-out Chrysler is looking back and now considering cutting costs by shifting production of all Jeeps to China, which has a strong desire for Jeeps.

In a Bloomberg interview, Jeep’s president said the automaker plans to restore Jeep production in China, suspended in 2009, and is considering making all Jeeps in China. “Fiat SpA, majority owner of Chrysler Group LLC, plans to return Jeep output to China and may eventually make all of its models in that country, according to the head of both automakers’ operations in the region,” reported the business wire service.

Mike Manley, chief operating officer of Fiat and Chrysler in Asia and president of the Jeep brand, told Bloomberg, “We’re reviewing the opportunities within existing capacity” as well as “should we be localizing the entire Jeep portfolio or some of the Jeep portfolio” to China.

Chrysler builds Jeep SUV models at plants in Michigan, Illinois and Ohio. Manley said the firm is in talks with China’s Guangzhou Automobile Group Co.

2012 Primary, Dick Morris, Econ, Health Law, Jobs, Obama, Stuck on Stupid, True Talking Points

ObamaCare redefines full time job as 30 hours a week!

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That will fix that pesky unemployment number!

This is pathetic.

CNS News:

A little-known section in the Obamacare health reform law defines “full-time” work as averaging only 30 hours per week, a definition that will affect some employers who utilize part-time workers to trim the cost of complying with the Obamacare rule that says businesses with 50 or more workers must provide health insurance or pay a fine.

“The term ‘full-time employee’ means, with respect to any month, an employee who is employed on average at least 30 hours of service per week,” section 1513 of the law reads.  (Scroll down to section 4, paragraph A.)

That section, known as the employer mandate, requires any business with 50 or more full-time employees to provide at least the minimum level of government-defined health coverage to those employees.

In other words, a business must provide insurance if it has 50 or more employees working an average of just 30 hours per week, which is 10 hours per week fewer than the traditional 40-hour work week.

If an employer has 50 or more “full-time employees” and does not offer health insurance, it must pay a penalty per employee for each month it does not offer coverage.

The obscure provision recently reemerged in regulations issued by the IRS for how employers must account for which workers are full-time and which ones are not.

Under these standards, published in September, employers can choose a “look-back” period of between 3 and 12 months to measure if an employee has worked an average of 30 hours per week.

If an employee has worked 30 hours per week during this time, the person would count as a full-time employee for at least the next six months, regardless of how much they work, thus preventing employers from cutting hours to avoid the mandate.

In other words, an employer calculates the hours an employee works during at least a three-month period, determining if they employee has worked 30 hours or more per week on average.

If the employee meets the 30-hour threshold, they are counted as full-time for at least six months. If the employer has at least 50 such employees, he must provide them with health insurance or pay a fine.

The IRS regulations do not apply to seasonal or temporary workers, only to regular employees.

2012 Primary, Dirty Tricks, Econ, Jobs, Obama, True Talking Points

California official who under-reported unemployment stats is an Obama campaign donor

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The games going on are just so…so… Chicago.

That 7.8% number will be revised way up after the election. Read the story at the Daily Caller HERE.

CNN Money:

U.S. unemployment fell to 7.8% in September. But that doesn’t mean the other 92.2% of adults are working.

The unemployment rate only measures people who have searched for jobs in the last four weeks, while millions of other out-of-work Americans aren’t included.

Continue reading HERE.

2012 Primary, Budget, Econ, Jobs, Obama

10 Leave the Labor Force for Every One added

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This situation makes the U3 unemployment number look better than the actual unemployment problem is. Using the U3 number those who get part time jobs and those who give up on looking for gainful employment are not counted among the unemployed.

Weekly Standard:

“For Every 1 Person Added To Labor Force Since January 2009,” the chart reads, “10 People Added To Those Not In Labor Force.”

That is, in nearly the four years, since President Obama took office in January 2009, only 827,000 people have been added to the labor force, while during that same time period, 8,208,000 have been added to those not in the labor force.

The chart relies on data available from the federal Bureau of Labor Statistics.

“The numbers represented in the chart are a measure of growth from January 2009 through September 2012,” the Republican side of the Senate Budget Committee explains. “The data is sourced from the Bureau of Labor Statistics’ Current Population Survey, a sample of 60,000 households conducted by personal and telephone interviews. Basic labor force data are gathered monthly. The labor force consists of all people aged 16 and over either employed or actively seeking work. It does not include discouraged workers, people who have retired, or those on welfare or disability who are no longer looking for work. The ‘not in the labor force’ group is defined as the total civilian non-institutional population minus the labor force.”

Since January 2009, the labor force has grown by 0.54 percent, or 827,000 people (from 154,236,000 to 155,063,000). Those not in the labor force grew by 10.2 percent during the same period (8,208,000 people), from 80,502,000 to 88,710,000. In other words, for every one person added to the labor force of the United States since January 2009, the size of the U.S. population not in the labor force grew by 10 people.

2012 Primary, Econ, Energy Policy, Gangsta Govt, Jobs, Obama, True Talking Points

Obama’s War on Domestic Energy Jobs Continues: The Great Alaska Shut Out

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Remember that Obama’s Energy Secretary, Steven Chu, testified to Congress under oath that gas should be $8.00 a gallon.

While Obama had instituted an illegal offshore drilling ban he was giving billions in low cost loans to Brazil (PetroBraz) to drill in water far deeper than we were in the Gulf. Of course, George Soros, the biggest money man for Democratic Party interests, is a large stock owner in PetroBraz…. but we all know that Chicago style politicians never engage in such behavior don’t we?

Wall Street Journal:

President Obama is campaigning as a champion of the oil and gas boom he’s had nothing to do with, and even as his regulators try to stifle it. The latest example is the Interior Department’s little-noticed August decision to close off from drilling nearly half of the 23.5 million acre National Petroleum Reserve in Alaska.

The area is called the National Petroleum Reserve because in 1976 Congress designated it as a strategic oil and natural gas stockpile to meet the “energy needs of the nation.” Alaska favors exploration in nearly the entire reserve. The feds had been reviewing four potential development plans, and the state of Alaska had strongly objected to the most restrictive of the four. Sure enough, that was the plan Interior chose.

Interior Secretary Ken Salazar says his plan “will help the industry bring energy safely to market from this remote location, while also protecting wildlife and subsistence rights of Alaska Natives.” He added that the proposal will expand “safe and responsible oil and gas development, and builds on our efforts to help companies develop the infrastructure that’s needed to bring supplies online.”

The problem is almost no one in the energy industry and few in Alaska agree with him. In an August 22 letter to Mr. Salazar, the entire Alaska delegation in Congress—Senators Mark Begich and Lisa Murkowski and Representative Don Young—call it “the largest wholesale land withdrawal and blocking of access to an energy resource by the federal government in decades.” This decision, they add, “will cause serious harm to the economy and energy security of the United States, as well as to the state of Alaska.” Mr. Begich is a Democrat.

The letter also says the ruling “will significantly limit options for a pipeline” through the reserve. This pipeline has long been sought to transport oil and gas from the Chukchi Sea, the North Slope and future Arctic drilling. Mr. Salazar insists that a pipeline could still be built, but given the Obama Administration’s decision to block the Keystone XL pipeline, Alaskans are right to be skeptical.

Alaskans also worry that the National Petroleum Reserve will become the same political football as the Arctic National Wildlife Reserve, or ANWR, which Washington has barred from drilling because of dubious environmental objections. The greens now want Congress to rename the energy reserve the “Western Arctic Reserve” to give the false impression that it is a fragile wildlife area. Some parts of the area are environmentally sensitive, but those 1.5 million acres (around Teshekpuk Lake) had already been set aside. Most of the other 11.5 million acres are almost indistinguishable from acreage owned by the state that is being drilled safely nearby.

The feds and Alaskan officials disagree about how much oil and natural gas is in the petroleum reserve. Some early federal estimates put the range between six and 15 billion barrels of oil, but in its latest survey the Bureau of Land Management projects closer to one billion. State officials and industry experts put the figure much higher based on the earlier surveys and improved drilling techniques.

The truth is no one knows. Prudhoe Bay turned out to be much more productive than originally believed, but surely the best strategy is to allow private drillers to risk their own money to find out. The oil and gas industry isn’t in the business of drilling dry holes on purpose.

The Interior power play couldn’t come at a worse time for Alaska, whose economy and government are heavily reliant on oil jobs and revenues. As recently as the 1980s, the Trans-Alaska Pipeline carried some 2.2 million barrels of oil a day from the North Slope to the port of Valdez. Yet as the once-rich fields of Prudhoe Bay and the Kuparuk River have declined, oil flow has dropped to one-third of that volume. North Dakota recently passed Alaska as the second highest oil-producing state behind Texas.

The problem isn’t that Alaska is running out of oil but that federal rules are preventing the state from developing those resources. No matter what Mr. Obama says now, in a second term his great Alaska energy shutout will continue.

2012 Primary, Econ, Jobs, Obama, Taxes, True Talking Points

Illinois Raises Business Taxes: Jimmy Johns Corporation Leaves the State

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Wealth goes where it is treated well. It should be the first rule of economics. When a bunch of radicalized leftists in Illinois demonize you for daring to start a good business and create jobs why stay?

jimmy johns

News Gazette:

CHAMPAIGN – The founder of Jimmy John’s said he has applied for Florida residency and may recommend that his corporate headquarters move out-of-state as a result of the Illinois tax increases enacted last week.

Jimmy John Liautaud told The News-Gazette on Tuesday that he is angry about the moves, which boosted the individual income tax from 3 percent to 5 percent and the corporate income tax from 7.3 percent to 9.5 percent.

“All they do is stick it to us,” he said, adding that the Legislature and governor showed “a clear lack of understanding.”

“I could absorb this and adapt, but it doesn’t feel good in my soul to make it happen,” Liautaud said.

Jimmy John’s, which has its corporate headquarters on Fox Drive in Champaign, has more than 1,000 sandwich shops nationwide, many of them franchise operations.

Champaign has been its corporate base, but Liautaud said it will not necessarily continue that way.

Liautaud said he has been contacted by “multiple pro-business states” that made him feel “wanted and important.”

“I enjoy being courted and the process,” he said.

Once he collects information on alternative sites, he will present it to the company’s board of directors and ask the board to decide.

As for himself, “my family and I are out of here,” he said.

2012 Primary, Econ, Health Law, Jobs, Obama, True Talking Points

CEO Steve Wynn: Obamacare and Other Policies Killing Jobs (video)

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“That can probably explain to you why I’ve become so concerned about what’s happening in Washington, because it’s affecting the living standards of my employees,” he said. “They’re all filled with anxieties these days.”

“They’re noticing in their homes…that their paychecks are shrinking in real time because of government irresponsibility and the management of this deficit,” Wynn added. “It’s killing the living standard of my employees, and that immediately affects their attitude at work.”

The policies from Washington are “Outrageously bad government by any standard, it doesn’t make any sense.”

2012 Primary, Corporatism, Econ, Jobs, Obama, Pay to Play, True Talking Points

Washington D.C. Tops List of Richest Cities….

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What’s wrong with that picture? All the stimulus, regulations, bailouts and other spending in the name of the poor and who gets rich?

CBS Local:

LANHAM, Md. (CBSDC) — The Washington region is well off financially.

The D.C. metro area sits atop The Wall Street Journal’s list of America’s richest cities.

D.C. area residents have a median household income of $86,680, well above the national average of $50,502.

The large salaries may be attributable to the nearly 47 percent of workers who hold college degrees, making Washington one of the most highly educated areas in the country.

The list also shows more adults in the area were able to find employment during a down economic time.  Just 5.8 percent of the workforce were unemployed in 2011.

Only 8.3 percent of Washington homes are living below the poverty line — the fifth lowest ranking in the country.

McAllen, Tex. is the country’s poorest city with a median income of $31,077.

Overall, the list shows a decline in the national median income for a second straight year and a seven percent decline since 2007.

2012 Primary, Econ, Jobs, Obama, True Talking Points

Spain Soaks the Rich with New Taxes: Tax Revenues Plummet

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This happens every time. If you punish economic behavior you get less of it. Maryland and New York have lost revenue after they passed “soak the rich” tax schemes and the result is that those who migtht have paid the tax either fled the state, simply decided to do business elsewhere, or decided to not engage in any behavior that is taxable. Spain went down the same road. Class warfare rhetoric undermines confidence with job creators, risk takers, investors, and small businesses.

It is much like we said in our previous post, “Those with even the most rudimentary understanding of economics understands this and yet new university trained leftist academics keep causing these same problems and keep expecting a different result”.

Always remember, wealth goes where it is treated well.

CNBC:

Spain’s corporate tax take has tumbled by almost two thirds from pre-crisis levels as small businesses fail and a growing number of big corporations seek profits abroad to compensate for the prolonged downturn at home.

In 2010, 30 of Spain’s 35 blue chip companies had subsidiaries in territories considered tax havens, according to the latest report by Spain’s Observation Group for Social Corporate Responsibility.

The organization, which is partially subsidized by the Labor Ministry, put the number at 18 before Spain’s economic crisis began.

“Not only tax reasons justify this trend, but also the internationalization of Spanish groups and the search for new markets, especially in the context of the crisis seen in Spain,” said Josep Serrano, Senior Manager of Transfer Pricing & International Tax at Deloitte in Spain.

The use of subsidiaries in tax havens to reduce tax bills has been a rising global trend in recent decades, tax campaigners said.

2012 Primary, Econ, Jobs, Lies, Obama, West

Allen West dismantles CNBC “reporter” on jobs numbers (video)

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Florida Republican Rep. Allen West defended his skepticism surrounding the September non-farm payrolls report in an interview on CNBC early this afternoon. The so called “objective reporter” from NBC’s cable channel,  Tyler Mathisen, got rather testy with Allen West and tried to interrupt him so he could not explain his point of view. West would have none of Mathisen’s nonsense. Mathisen is on the verge of becoming unhinged during much of the interview skin to a Chris  Mathews meltdown.

Here is the exchange:

MATHISEN: “You are alleging specifically that the president is engaging in a cover-up of the data. You are saying that the administration is actively manipulating that data. Correct?”

WEST: “Well, absolutely. Look at what happened with our GDP numbers. Fourth-quarter GDP numbers last year were 3 percent…”

MATHISEN: “Do you have any basis on which you say that? Do you have any basis on which you say that? Any source? Anyone that has come to you and said, ‘This is the case?’ I mean, do you realize how difficult it would be for someone to pull off that kind of conspiracy, given the number of people in the labor department, given the number of surveyors out there, one of whom would probably say, ‘Wait a minute! That’s not the right number!'”

WEST: “Well, if you would stop yelling in my ear and allow me to answer your questions, maybe we could get to the bottom of this. When you look at the GDP numbers — which have gone from 4.1 percent, then it went to 1.9 percent, then it was at 1.7 percent. It got revised down just about a month ago to 1.3 percent. We’ve got numbers that are all over the place. And we don’t understand the direction this economy is going. … I don’t see these numbers that people are talking about, and I don’t see how they can come back later in this month and say they’re revising the numbers from July and August. So I’m very questionable with what we do see out of this administration, because the numbers don’t add up.