The Armchair Intelligentsia Blog

I'm taking a little break from postings i'll still be sharing stuff everyone once in a while but at least for now it won't be daily

 
President Obama -Our worst president ever- Combining the worst of W and the worst of Socialism
  • How Congress Will Steal the Recovery
  • Obama's Doctor Knocks ObamaCare- 6/19
  • Obama invokes Jesus more than Bush- 6/10
  • The Roots Of Liberalism- 6/05
  • Is Obama Another Jimmy Carter?- 5/26
  • Obama's Deeds Vindicate Bush- 5/22
  • President Obama's troubling mantra: In debt, we trust - 5/15
  • Unions vs. Taxpayers - 5/14
  • US to borrow 46 cents for every dollar spent - 5/12
  • Quick fix today, crisis tomorrow in Obama's White House - 5/12
  • Obama's First Debacle? - 5/04
  • Obama's Liberal Arrogance Will Be His Undoing - 4/29
  • Obama more popular than his policies, poll shows - 4/27
  • Obama: The Grand Strategy - 4/24
  • High Unemployment States Have High Income Taxes or High Unionization or Both. - 4/22
  • The Case for a Federalism Amendment - 4/23
  • A World Of Trouble For Obama - 4/20
  • President of Everything - 4/17
  • The fiscal hole that must be filled - 4/05
  • Dem hypocrisy will come back to haunt - 3/18
  • The Obushma Spending Record - 3/17
  • Obama's policies have made the recession worse - 3/11
  • The Liberaltarian Jackalope - 3/11
  • The Sleight of Hand Behind Obama's Agenda - 3/06
  • The budget reveals the liberal Obama - 3/01
  • Back to Carter - 2/22
  • The ‘Liberaltarianist’ Folly - 2/20
  • Obama Worship and the Herd Mentality - 2/13
  • The Return of Welfare As We Knew It - 2/10
  • The Bushification of Barack Obama - 1/28
  • Obama's Middle East challenge - 1/28
  • Going Dopey On Infrastructure - 1/23
  • U.S. Congress World's Top Risk in 2009 - 1/12
  • Identity Crisis - 1/07
  • The Population and the Popular Vote - 12/01
  • Dems vs. Dems in new Congress - 11/25
  • Obama wrestles with Guantanamo problem - 11/11
  • Reckless Georgia - 11/11
  • The future under President Obama - 11/10
  • Will Barack Obama be another Bill Clinton? - 11/10
  • Schwarzenegger urges GOP to move beyond ideology - 11/10
  • Who Is the Working Class, Anyway? - 4/14
  • US election diary: The race card
  • Luke Skywalker v Darth Vader
  • The Inconvenient Truths of 2008
  • Change is coming -- to your tax bill
  • Obama the Messiah of Generation Narcissism
  • Special Reports - My Spin
  • Lebanon: One Year On
  • Stalin, Mao And … Ahmadinejad?
  • House OK's Irap Pullout Deadline
  • Libertarians emerge as a force
  • A Military That Reflects the Red-Blue Divide?
  • When did the Republicans give up on their principles?
  • How to move faster than the speed of light
  • Don't bring gender into the debate
  • Sheehan resumes war protest near Bush's ranch (bitch)
  • The end of cowboy diplomacy - Why the 'Bush Doctrine' no longer works for Bush administration
  • Israel accuses Hamas of 'terror escalation' after school attack.
  • Can Daily Kos Control Dems? - Or should they even try
  • Illegal Status Hinders Mexican Voting Bloc
  • Reaction to Court Ruling Over Guantanamo
  • Flagwavers - a fable
  • Bush Condemns Report on Bank Records
  • Jon Stewart, Enemy of Democracy?
  • It's Time to Leave--RIGHT NOW (I don't think so but thats just me)
  • Are Conservative Republicans Now America's Permanent Ruling Class?
  • White Guilt, Deciphered
  • European Nations May Give Iran a Reactor
  • 4th Generation Warfare
  • Important Reports/Stories
  • How the Fed Works
  • How Congress Will Steal the Recovery
  • How to Prepare for the End of Social Security
  • “Conservatives” Are Single-Largest Ideological Group
  • The Straw Men of Social Security
  • What is Driving Rising Healthcare Costs?
  • Who Controls the Internet?
  • Is The U.S. Government Too Big To Fail?
  • Financial Health of Social Security, Medicare Worsens in Past Year
  • US to borrow 46 cents for every dollar spent
  • GM Bankruptcy Probable as Obama Shields UAW Benefits
  • Worries Rise on the Size of U.S. Debt
  • the joe the plumberization of the gop
  • What is nationalization?
  • The Solution to the State Fiscal Crisis: A Five Year Balanced Budget?
  • Trillion-Dollar Spree Is Road to Ruin, Not Rally
  • Political Change Haven’t Shifted Public’s Ideology Balance
  • GM's Plan: Subsidize Our 48-Year-Old Retirees
  • The Trouble with Canadian Healthcare
  • Welfare Reform, Phase Two
  • A Short History of the National Debt
  • Bailouts: The Ultimate Double Standard
  • The Libertarian Moment
  • Making the rich poorer doesn't make everyone else richer
  • Paying the price for cotton
  • The Putin Doctrine
  • Our weakening country
  • Why terror thrives
  • Our Broken Senate
  • Will gay rights trample religious freedom?
  • Scientists From Around the Globe Join ABC News in a Forum on Surviving the Century
  • Moving Toward Energy Rationing
  • Parenting The Palestinians
  • The Coming Tax Bomb
  • Americans and Europeans on religion, happiness, government, and war
  • Democrats and the Economy
  • How to Tackle the Entitlement Crisis
  • Democrats and Our Enemies
  • Bill Clinton, the one-man steamroller
  • What’s Left for Government to Do?
  • Saying No to CoerciveCare
  • Bashing NAFTA misses real reason for factory job losses
  • Crisis Intervention in Housing Finance
  • Culture of Success
  • The Costs of Crime
  • Why Radical Islam Just Won’t Die
  • The AIDS Conspiracy Handbook
  • That Old Isolationist Tug
  • Competition and free trade key to prosperity
  • Let's Get America Booming Again
  • Vacationing in Hugo Chávez's Bolivarian Paradise
  • Scotland Yard: Bomb blast killed Bhutto
  • Present at the Destruction
  • The Whys of Spies
  • What’s Left for Government to Do?
  • You Said What? A happy history of lies and propaganda
  • An Open Letter to America's Rich People
  • It’s the Partisan Economy, Stupid
  • If Huckabee Is Dean, Who Is Kerry?
  • The Mother of All Elections
  • How the Private Sector Can Improve K-12 Education
  • Misreading the Iran Report
  • Plan B For Pelosi And Reid
  • Good news from Iraq
  • Is the U.S. Corporate Tax in the Laffer Zone?
  • High income taxes in Denmark worsen a labor shortage
  • Race, IQ and Education
  • World not running out of oil, say experts
  • The World's Biggest Industry
  • Peak Oil Again?Is "social meltdown" imminent?
  • Crime, Drugs, Welfare—and Other Good News
  • The Past, Present, and Future of Neoconservatism
  • The Trouble with Taxing the Young
  • Wealth and Nations
  • A Nation of Christians Is Not a Christian Nation
  • African Conflicts Cost Billions
  • Libertarians Rising
  • The US is a great place to be anti-American
  • Bush not the only problem
  • Showtime for Sarkozy
  • Making Sense of Income Inequality
  • The Health of the Nation: State By State
  • Government and Health Care: The Good, The Bad, and the Ugly
  • David vs. Goliath - Welfare Reform
  • John R. Bolton - The Flaws In the Iran Report
  • Murdoch Is No Threat to Democracy, but Media Protectionism
  • The Allure of Tyranny
  • Putin's Reaganesque Victory
  • Knight's Move
  • Chavez revolution takes hit in election
  • Flat tax for middle class
  • No Money, No Justice
  • Crime, Drugs, Welfare—and Other Good News
  • Why not give cell phones to students for doing well in school?
  • What Makes a Terrorist
  • The Free Clinic Movement
  • Why actors and models love to hang out with Hugo Chávez
  • Stop 'Making a Difference'
  • The War Was Right, the President Was Wrong
  • What are 'Hollywood values'?
  • Sarkozy ready to battle the workers
  • The History of the Chinese Government
  • What Makes a Democrat or Republican?
  • Abortion: A Legal or Political Issue?
  • Key Dates in Iraq War
  • Why they should stay
  • MoveOn's McCarthy moment
  • Why It’s So Hard to Win
  • Osama's Vision of the Future
  • The Foreign Policy Similarities Between Ancient Rome and Modern America
  • The Partitioning of Iraq
  • America agonises over the pitfalls of staying in Iraq—and of leaving
  • The reality of Iraq's many armies
  • The Many Enemies of George Bush
  • The Decline and Fall of Declinism
  • Which Iraq War Do You Want To End?
  • Who Lost Iraq?
  • Reforming France's Welfare State
  • The United States Patriot Act
  • Events Leading to the Second Persian Gulf War in Iraq
  • To save America, we need another 9/11
  • Imbalance: The U.S. Supreme Court, Its History, Power, and Proper Role
  • The Pros and Cons of Government Run Education
  • Social Crisis: Impending Disaster for Social Security and How We Can Fix It
  • Private Sector Healthcare Can Also Be 'Universal'
  • Is 2008 a Change Election?
  • If the Democrats want to fire Alberto Gonzales, why give him massive new eavesdropping powers?
  • Why Do They Hate Us?
  • Sicko’s Box Office Numbers are Fuzzy, Too
  • The Universal Distraction
  • How to Get Ron Paul Elected as Republican Presidential Candidate
  • The Free Vermont Secessionist Movement - A Counterpoint
  • The Left's "Inequality" Obsession
  • The Truth About America's Schools
  • Myths and Realities of the George Bush Presidency
  • The epic narcissism of Cindy Sheehan
  • The Ironic Collapse of John McCain
  • Fair Taxes? Depends What You Mean by ‘Fair’
  • Wall Street Populism
  • Where Michael Moore is Wrong
  • Bin Laden’s 1998 Atomic Message & the Necon Dream
  • Libertarians and the War
  • The New York Times Surrenders
  • The Most Controversial Presidential Pardons Ever
  • Freedom and Benevolence Go Together
  • Blissfully Uneducated
  • The New Myths About Inequality
  • Bush: Naturally, Never Wrong
  • Court Dismisses Lawsuit Against U.S. Wiretapping
  • Bush's Flawed Historical Vision
  • Grand Strategy for a Divided America
  • Osama Bin Missing: Who's Tried Hardest to Tackle Top Terrorist?
  • The rise and rise of Hamas
  • 'What If...'
  • Democrats vs Republicans
  • Protecting Your Paycheck
  • Separatist graduations proliferate at UCLA
  • The Age of Cynicism
  • The GOP's Fading Populism
  • Free Speech and Double Standard
  • Unfairenheit 9/11
  • Another Supply-Side Revolution Is Needed
  • Despotic Populism Is On the March
  • Evolution and religion
  • Schools and race-Still separate after all these years
  • Lazy, Job-Stealing Immigrants?
  • The Return of the Idiot
  • Your War, Not Mine
  • Are the Democrats and Bushies playing good cop/bad cop with the Iraqis?
  • Decline and fall of the neocons
  • Pretty bad – but not Jimmy Carter bad
  • The U.S. Seen Through Muslim Eyes
  • Decline and fall of the neocons
  • Seeds of Intellectual Destruction
  • Race Through a Liberal Lens
  • The neocons have finished what the Vietcong started
  • The (Not So) Infallible
  • Republicans of '94 revolution reflect on '06
  • Beyond Hegemony
  • ISG Prescribes Vietnam All Over Again
  • In class war, all lose: Yet it’s all Dems offer
  • Why is it always about Israel?
  • Even If We Leave Now, We'll Be Back
  • Calming an anxious middle class
  • What Comes After the Retreat
  • Doctors turn to aborted fetus to save boy's life
  • Get rid of the labels
  • Olmert's apparent nuclear admission
  • The Madness of Jimmy Carter
  • Counternarratives and the Grunt
  • Al Qaeda for the Good Guys: The Road to Anti-Qaeda
  • When the Media's Right
  • Humanitarian aid: winning the terror war
  • Hitler's Mideast helpers
  • The Peace Party vs. the Power Party
  • Iraq stops Bush from staging Reagan-style revival
  • The myth of the big bad drug companies
  • The Looming Regional Mideast War
  • The world may slowly be turning into the Land of China
  • Lessons From the Class Of '48: Ambition, Comity
  • What the Dictators Can't Stop
  • While You Were at War . . .
  • Only stupid, sadistic dictators hang… and Saddam was both
  • What the Real-Wage Pessimists Are Missing
  • The Fight for the Latin Left's Soul
  • Iraq's Natural State
  • Why Be a Conservative Libertarian?
  • The Knee-Jerk Opposition
  • Cafeteria Catholicism and the Minimum Wage
  • How Baby Boomers Are Robbing Our Grandchildren
  • Reaganism Cannot Define Conservatism
  • What Scares Iran’s Mullahs?
  • Why the U.S. Can't Win Iraq's Civil War
  • Religion, Government, and Civil Society
  • Iran Will Regret Its Nuke Program; Here's How
  • Hayek and Fusionism
  • Bush's "Nixon to China" Moment
  • The Leadership of George W. Bush: Con & Pro
  • A Short History of Health Care
  • The Left Still Doesn't Get It -- Even After KSM Confession
  • Slavery apologies debated across U.S.
  • Slouching Toward Socialized Medicine?
  • 2008: The Battle for a Generation
  • In a year of sanctions, international aid to Palestinians grew to more than $1.2 billion
  • The New Uncontrollable Campaign
  • Getting right with the Right isn't always wrong!
  • Libertarians' silver lining
  • Who Pays America's Tax Burden, and Who Gets the Most Government Spending?
  • Anger Is All The Rage
  • Illegal immigrants filing taxes more than ever
  • The Coming Party Realignment
  • The Rich and the Rest
  • Senate committee takes steps to improve accountability for “pork barrel spending”
  • Edwards & the Arrogance of the Entitled
  • The 10 worst jobs in America
  • Info
    Seed Newsvine More blogs about politics.
    under construction
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    How Congress Will Steal the Recovery
    Wednesday, July 01, 2009
    by Janet Novack and Brian Wingfield

    The economy got stimulated. That was Act I. in Act II it is going to be smothered.
    Tech companies won big when the money was being dished out, with $37 billion of the February stimulus set aside for health information technology, smart electric grid and broadband investments. They'll also be a prime beneficiary if Congress adopts President Barack Obama's bid to make the research and experimentation tax credit permanent at a cost of $74 billion over a decade.
    But at the Technology CEO Council, Executive Director Bruce Mehlman says his "number one, two and three" priority these days is to block a Treasury proposal to wring $210 billion more in taxes over the next decade from multinationals' offshore profits. "We found the Obama Administration a great partner on infrastructure and research and we hope the distraction of populist tax policies can be shelved so we can help enable a long-term recovery," says Mehlman, whose members include the honchos of IBM, Intel, Dell, HP and Motorola.
    When Washington was putting trillions in bailouts and stimulus on Uncle Sam's credit card, many business leaders applauded (or at least stuck out their hands for the cash). Now, with the economy seemingly back from the brink, the cheering has stopped and the defensive game is on. Someone, after all, must pay for all that emergency deficit spending; for the $46 trillion (net present value) of Medicare and Social Security benefits already promised but not funded under current law; for renewing some of the expiring Bush tax cuts and containing the growth of the dreaded alternative minimum tax. Moreover, someone must pay for the Democrats' expensive shopping list: covering 46 million Americans without health insurance; mandating paid sick leave; moving to a low-carbon economy; and adopting tougher consumer, worker and investor protections.
    The stock market, now trading at 134 times trailing earnings, can be justified only with the presumption that profits will snap back to pre-2008 levels as soon as the recession ends. That may be a naive presumption. No sooner will there be a recovery in corporate profits than Congress will find ways to snatch them away.
    "Once the economy looks a little better, we move on to higher taxes, more regulations--all the punitive things that had to be put on the shelf as we saved the economy," says longtime Washington analyst Gregory Valliere, now at Soleil Securities. "It's going to be a modest recovery with all sorts of political risk," he adds.
    Candidate Obama promised no tax hikes on families earning less than $250,000, so Democrats are coming after upper-income folks and big business first. Assuming an economic recovery, rates for the better off will rise in 2011 as the Bush tax cuts expire. Clint Stretch, managing principal of tax policy at Deloitte Tax, speculates Congress might consider following the lead of states such as California, New York and Maryland and creating an even higher rate that kicks in at $500,000 or $1 million.
    The moral justification for such tax grabs is "pay as you go" budgeting--meaning if Congress wants to give a tax break or a new benefit to one group it must raise taxes or cut benefits for another. The nature of politics is such that over time tax raises are more likely than benefit cuts.


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    Big Oil & Alternative Fuels
  • 4 Ways to Ride Oil's Ups and Downs
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  • Let the Drilling Begin
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  • Why Does Gasoline Cost So Much?
  • The Good News About Energy
  • The Coming Energy Wars
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  • The cost of green tinkering is in famine and starvation
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