Sunday, November 11, 2018
Saturday, November 10, 2018
Friday, November 9, 2018
Multiple Shooting Aftermath
It's like clockwork. Soon after a multiple shooting, the Dems/Progs
want to do SOMETHING, none of which will make any difference. The same
group of fools who say that it is impossible to identify and remove
11-15 million undocumented Democrats will say they want to find and
confiscate over 300 million firearms from lawful owners. I don't think
so. Molon Labe.
Wednesday, November 7, 2018
Skin in the Game. Walter Williams
Skin in the Game
By Walter E. Williams | November 7, 2018 5:14 PM EST
In
describing the GOP tax cuts, House Minority Leader Nancy Pelosi said
that they and bonuses American workers were getting were "crumbs." They
were "tax cuts for the rich." Some argued that the tax cuts would reduce
revenues. Pelosi predicted, "This thing will explode the deficit." How
about some tax facts?
The argument that tax cuts reduce federal revenues can be disposed of quite easily. According to the Congressional Budget Office, revenues from federal income taxes were $76 billion higher in the first half of this year than they were in the first half of 2017. The Treasury Department says it expects that federal revenues will continue to exceed last year's for the rest of 2018. Despite record federal revenues, 2018 will see a massive deficit, perhaps topping $1 trillion. Our massive deficit is a result not of tax cuts but of profligate congressional spending that outruns rising tax revenues. Grossly false statements about tax cuts' reducing revenue should be put to rest in the wake of federal revenue increases seen with tax cuts during the Kennedy, Reagan and Trump administrations.
A very disturbing and mostly ignored issue is how absence of skin in the game negatively impacts the political arena. It turns out that 45 percent of American households, nearly 78 million individuals, have no federal income tax obligation. That poses a serious political problem. Americans with no federal income tax obligation become natural constituencies for big-spending politicians. After all, if one doesn't pay federal income taxes, what does he care about big spending? Also, if one doesn't pay federal taxes, why should he be happy about a tax cut? What's in it for him? In fact, those with no skin in the game might see tax cuts as a threat to their handout programs.
Whenever tax cuts are called for, it's not long before they are called tax cuts for the rich. Let's look at who pays what in federal income taxes. Using IRS data for 2015, the latest year available, the Tax Foundation reports that the top 1 percent of earners made about 21 percent of the nation's income, but their share of federal income taxes was 39 percent. They paid more in income taxes than the bottom 90 percent, who paid 29.4 percent of federal income taxes (http://tinyurl.com/y7t4ljv8).
In 2015, the top 50 percent of taxpayers paid 97.2 percent of all individual income taxes. Also, the top 1 percent had an income tax rate of 27 percent, while the bottom 50 percent had a tax rate of less than 4 percent. It turns out that 892,420 households -- out of roughly 34 million total households -- paid 39 percent of federal taxes that year. Most Americans have little or no federal income tax obligation, so how in the world is it possible to give a tax cut to them?
Another part of the Trump tax cuts was with corporate income -- lowering the rate from 35 percent to 21 percent. That, too, has been condemned by the left as a tax cut for the rich. But corporations do not pay taxes. Why? Corporations are legal fictions. Only people pay taxes. If a tax is levied on a corporation, it will have one or more of the following responses in order to remain in business. It will raise the price of its product, lower its dividends to shareholders and/or lay off workers. Thus, only flesh-and-blood people pay taxes. We can think of corporations as tax collectors. Politicians love our ignorance about this. They suggest that corporations, not people, will be taxed. Here's how to see through this charade: Suppose a politician told you, as a homeowner, "I'm not going to tax you. I'm going to tax your land." I hope you wouldn't fall for that jive. Land doesn't pay taxes.
Getting back to skin in the game, sometimes I wonder whether one should be allowed in the game if he doesn't have any skin in it.
The argument that tax cuts reduce federal revenues can be disposed of quite easily. According to the Congressional Budget Office, revenues from federal income taxes were $76 billion higher in the first half of this year than they were in the first half of 2017. The Treasury Department says it expects that federal revenues will continue to exceed last year's for the rest of 2018. Despite record federal revenues, 2018 will see a massive deficit, perhaps topping $1 trillion. Our massive deficit is a result not of tax cuts but of profligate congressional spending that outruns rising tax revenues. Grossly false statements about tax cuts' reducing revenue should be put to rest in the wake of federal revenue increases seen with tax cuts during the Kennedy, Reagan and Trump administrations.
A very disturbing and mostly ignored issue is how absence of skin in the game negatively impacts the political arena. It turns out that 45 percent of American households, nearly 78 million individuals, have no federal income tax obligation. That poses a serious political problem. Americans with no federal income tax obligation become natural constituencies for big-spending politicians. After all, if one doesn't pay federal income taxes, what does he care about big spending? Also, if one doesn't pay federal taxes, why should he be happy about a tax cut? What's in it for him? In fact, those with no skin in the game might see tax cuts as a threat to their handout programs.
Whenever tax cuts are called for, it's not long before they are called tax cuts for the rich. Let's look at who pays what in federal income taxes. Using IRS data for 2015, the latest year available, the Tax Foundation reports that the top 1 percent of earners made about 21 percent of the nation's income, but their share of federal income taxes was 39 percent. They paid more in income taxes than the bottom 90 percent, who paid 29.4 percent of federal income taxes (http://tinyurl.com/y7t4ljv8).
In 2015, the top 50 percent of taxpayers paid 97.2 percent of all individual income taxes. Also, the top 1 percent had an income tax rate of 27 percent, while the bottom 50 percent had a tax rate of less than 4 percent. It turns out that 892,420 households -- out of roughly 34 million total households -- paid 39 percent of federal taxes that year. Most Americans have little or no federal income tax obligation, so how in the world is it possible to give a tax cut to them?
Another part of the Trump tax cuts was with corporate income -- lowering the rate from 35 percent to 21 percent. That, too, has been condemned by the left as a tax cut for the rich. But corporations do not pay taxes. Why? Corporations are legal fictions. Only people pay taxes. If a tax is levied on a corporation, it will have one or more of the following responses in order to remain in business. It will raise the price of its product, lower its dividends to shareholders and/or lay off workers. Thus, only flesh-and-blood people pay taxes. We can think of corporations as tax collectors. Politicians love our ignorance about this. They suggest that corporations, not people, will be taxed. Here's how to see through this charade: Suppose a politician told you, as a homeowner, "I'm not going to tax you. I'm going to tax your land." I hope you wouldn't fall for that jive. Land doesn't pay taxes.
Getting back to skin in the game, sometimes I wonder whether one should be allowed in the game if he doesn't have any skin in it.
Thursday, October 25, 2018
Tuesday, October 23, 2018
Illeagals Vote for School Board in San Francisco
SAN
FRANCISCO (AP) — San Francisco will become the largest city in the
United States and one of only a handful nationwide to allow noncitizens,
including people in the country illegally, to vote in a local election
in November.
They
are only allowed to vote in the city school board race, and the fear
that their information may reach U.S. officials appears to be stronger
than the desire to have a say in their children's education. Only 35
noncitizens have signed up to vote as of Monday, the registration
deadline in California, according to San Francisco's Department of
Elections.
Voters
in 2016 approved a measure allowing parents or guardians of a child in
San Francisco schools to help elect representatives to the school board
regardless of their immigration status. In the same election, Donald
Trump won the presidency and has since cracked down on illegal
immigration and ramped up rhetoric against those living in the U.S.
illegally.
"We're
in an unprecedented arena of animosity toward our immigrant community,
and that has really stopped people from voting," said San Francisco
Supervisor Sandra Fewer, a former member of the school board and a
supporter of the noncitizen voting measure.
Noncitizens
must provide their address and date of birth to register for the school
board race. They can't vote in state or federal elections.
The
Chinese American Voters Education Committee has been holding voter
registration campaigns on college campuses, in low-income neighborhoods,
at festivals and in Chinatown. Volunteers have not registered a single
noncitizen, including a green-card holder, executive director David Lee
said.
"People
are really fearful because the Trump administration is perceived to be
very anti-immigrant," Lee said. "There is legitimate concern that their
information may be turned over to the federal government and that they
may end up being detained or deported."
Lee
and other community groups have been inviting prospective voters to
register but also warning them of the risks. The city election
department also has warnings on its registration form and on flyers
saying voter information would be public and could be seen by U.S.
Immigration and Customs Enforcement and other agencies.
San
Francisco is a "sanctuary city" that otherwise limits cooperation with
federal immigration officials. The city has not shied away from
confronting the U.S. government on immigration, suing the Trump
administration over sanctuary protections for people in the country
illegally.
Those
who championed the voting ordinance say it aims to give immigrants a
greater voice at the school board, which approves curriculum, hires
staff and manages a nearly $900,000 annual budget.
The
San Francisco School District does not keep a tally of its noncitizen
parents or children but reports that 29 percent of its 54,000 students
are English learners, with the majority listing Chinese or Spanish as
their first language. At least 40,000 people in the city of 885,000 are
in the country illegally, according to government estimates.
Harmeet
Dhillon, a San Francisco attorney and committeewoman for the National
Republican Committee, said allowing noncitizens to cast ballots devalues
the rights of citizens.
"Voting is a sacred privilege and a sacred right of citizens. It should not be trivialized for political gain," she said.
Dhillon,
who handles election law cases, said she is not surprised that only a
few noncitizens have registered because voting could jeopardize their
chances of attaining citizenship in the future.
"By voting people are taking a big legal risk, and for what return?" Dhillon asked.
San
Francisco is not the first place with such a measure. In Maryland,
where an estimated 15 percent of residents are foreign-born, at least
six cities allow noncitizens to vote in local elections.
The
measures have been in effect since the 1980s but not without
controversy. In College Park, home to the University of Maryland, an
amendment that would have allowed noncitizen voting failed last year.
One
reason so many cities in Maryland have enacted noncitizen voting laws
is that municipalities are allowed to enact legislation and implement it
right away, unlike other states, said Ron Hayduk, an associate
professor of political science at San Francisco State University who
studies noncitizen voting laws.
In
Massachusetts, the cities of Amherst, Cambridge, Newton and Brookline
have advanced laws to allow noncitizen voting, but they cannot implement
them because they need the approval of state lawmakers, who have not
acted, Hayduk said.
"Noncitizen voting is a very contentious issue, and that's in part why it's not more widespread," Hayduk said.
In
San Francisco, noncitizens who opt to vote will be listed on a separate
roster from citizens and will get a ballot with just the school board
contest, city elections chief John Arntz said.
Norma
Garcia, director of policy and advocacy for the Mission Economic
Development Agency, which advocates for immigrant rights, said she hopes
more noncitizens will vote if the political climate changes in the
future.
"The
numbers are not what anyone would have wanted them to be, but we're
confident there will be increased participation once the political tide
shifts," Garcia said.
Tuesday, October 9, 2018
Subscribe to:
Posts (Atom)