Archive for January 26th, 2012

Translating President Obama’s SOTU into plain English…

January 26, 2012

The Americans for Tax Reform has provided a decoding ring for  translating from Obama-speak to plain English:

  • “Investment” – Spending taxpayer money on Obama re-election constituencies such as government employee unions, teachers’ guilds, and big-city political machines.
  • “Children and grandchildren” – The people picking up the tab.
  • “Energy” – Something that flows from good intentions, government programs, “stimulus” spending but not pipelines.
  • “Exports” – That trade – and only that trade – acceptable to union bosses.
  • “I” or “Me” – Center of the known universe.
  • “Compromise” – Tax hikes.
  • “Sacrifice” – Tax hikes.
  • “Bipartisan” – Tax hikes.
  • “Fair” OR “Fair Share” – Tax hikes.
  • “Balanced” – Tax hikes.
  • “Small business” – Those who will pay the most under my plan to tax “the rich.”
  • “Special interests” – Taxpayers who do not wish to give their money to my friends.
  • “There are those who…” OR “Some” – [INSERT STRAW MAN HERE]
  • “Middle class” – Those who are the target of seven tax hikes in Obamacare.
  • “Deficit” – What Democrats want you to focus on when what they really want to sell you is a tax hike.
  • “Regulations” – The governmental leash attached to the choke collar around the neck of the economy.
  • “Recovery” – This time it’s real, I swear, not like that “Recovery Summer” we had in 2010 after spending $1 trillion of borrowed money.
  • “Infrastructure” OR “Roads and Bridges” – Spending taxpayer money on those states voting Democrat in ’08.
  • “Affordable” – Reality for the taxpayer only after they’ve worked 224 days to pay for the total cost of government.
  • “Obstructionists” – House Republican lawmakers who have actually passed a budget – NOT the Senate Democrats who have refused to pass a budget for 1,000 days.
  • “Streamline” – The pretense of dieting after an all-out spending binge.
  • “Wall Street” – 1. Where your IRA and 401(k) live. 2. A bauble to distract you from noticing my bailout of Fannie and Freddie.
  • “Jobs” – “You want to find work on the Keystone XL pipeline? Tough luck – I’ve got a campaign to run.”
  • “Profit” – Money without which jobs would never be created.

Very useful, right?

* * * * *

P.S. Americans for Tax Reform also hit on the idea of Obama Bingo … great minds running in the same track … I didn’t jack the idea from them … I jacked it from students who told me that they sometimes play Prof Bingo in class.

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Let’s see HER tax returns !

January 26, 2012

Obama seems determined to structure the U.S. income tax code around Warren Buffett and his secretary.

There she was … in Michelle’s box for the SOUTU address.

Well, seems that cameo appearance is sparking some scrutiny.

Is she, in fact,  a tax-abused waif living from paycheck to paycheck?

According to Forbes: Warren Buffett’s Secretary Likely Makes Between $200,000 And $500,000/Year

Warren Buffet’s secretary, Debbie Bosanek, served as a stage prop for President Obama’s State of the Union speech. She was the President’s chief display of the alleged unfairness of our tax system – a little person paying a higher tax rate than her billionaire boss.

Bosanek’s prominent role in Obama’s “fairness” campaign has finally  piqued curiosity.

How much does her boss pay this downtrodden woman?

So far, no one has volunteered this information.

We can get an approximate answer by consulting IRS data on tax rates by adjusted gross income, which would approximate her salary, assuming she does not have significant dividend, interest or capital-gains income (like her boss).

I assume the tax rate Obama refers to is from her own earnings.

Insofar as Buffet (like Mitt Romney) earns income primarily from capital gains, which are taxed at 15 percent (and according to Obama need to be raised for reasons of fairness), we need to determine how much income a taxpayer like Bosanek must earn in order to pay an average tax rate above fifteen percent. This is easy to do.

The IRS publishes detailed tax tables by income level.

The latest results are for 2009. They show that taxpayers earning an adjusted gross income between $100,000 and $200,000 pay an average rate of twelve percent.

12% is below Buffet’s rate; so she must earn more than that.

Taxpayers earning adjusted gross incomes of $200,000 to $500,000, pay an average tax rate of nineteen percent.

Therefore Buffet must pay Debbie Bosanke a salary above two hundred thousand.

At that level of income, she is scarcely the symbol of injustice that Obama wishes her to project.

While we’re at it, how about a peek at Buffett’s returns?

After all, if we’re going to revamp the entire tax code off of 2 data points, let’s at least have all the data that the points have to offer.

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Does sex sell? Just ask GoDaddy … or, watch this year’s Super Bowl

January 26, 2012

USA Today reports …

Thirty-some advertisers will spend upwards of $230 million just for the airtime to fight for attention in the Feb. 5 game.

At stake: the eyeballs of more than 100 million Super Bowl viewers. And the urgent need to drive all of them online to find out more, socialize and tweet with friends and ultimately buy that beer, smartphone or luxury car.

Sexy ads are slinking back to the Super Bowl.

No company has used sexual imagery more shamelessly on the Super Bowl than GoDaddy.

“We set the standard of indecency,” jokes CEO Parsons, who takes special pride in being widely accused of single-handedly bringing down the tone of Super Bowl advertising.

Truth be told, the action in each GoDaddy ad is just a big tease to get folks to go online and find out more about the company that people use to register domain names and host websites.

The ploy, which GoDaddy has used for eight consecutive Super Bowls, works ridiculously well.

But. some researchers have found that spots with sexual imagery take a 10% hit in “likability” vs. ads without racy images.

They conclude that most viewers actually prefer to see ads with kids or animals.

Yeah, right.

Watch the vid .. then you decide.

        click to view video

image
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