Archive for May, 2013

A Government Too Vast

Thursday May 16th, 2013   •   Posted by Craig Eyermann at 6:32am PST   •   3 Comments

Has the U.S. government become too vast for the President to be accountable for the misconduct of its bureaucrats? Believe it or not, that’s the argument being advanced by President Obama’s former campaign manager David Axelrod for the purpose of defending the President in the abuse of power scandals now engulfing his administration. Politico...
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Wednesday May 15th, 2013   •   Posted by K. Lloyd Billingsley at 8:42am PST   •   2 Comments

The Internal Revenue Service has been targeting conservative groups but the powerful federal agency was not content with abuse of groups with “tea party” and “patriot” in their names. As the Wall Street Journal noted, the IRS was acting in a highly inclusive manner, giving extra scrutiny to groups seeking to “make America a...
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CIA cash promotes waste, fraud and abuse in Afghanistan

Monday May 13th, 2013   •   Posted by K. Lloyd Billingsley at 8:52am PST   •   3 Comments

For ten years the U.S. Central Intelligence Agency has been dropping off bags of money for Afghan president Hamid Karzai, who is grateful for the monthly cash deliveries. The revelation sparked a protest from Rep. Jason Chaffetz of Utah, who told the New York Times “I thought we were trying to clean up waste,...
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The IRS Admits Its Corruption

Friday May 10th, 2013   •   Posted by Craig Eyermann at 6:05pm PST   •   8 Comments

There’s a long-standing joke among politicians, which kind of goes along the following line: “You had better not threaten my power, or else I’ll set the IRS on you!” Even President Obama has told a version of this joke: Unfortunately, the people and managers who staff the bureaucracy of the Internal Revenue Service (IRS),...
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Hotel Hypocrisy: Do lower taxes “rob” the state?

Wednesday May 8th, 2013   •   Posted by K. Lloyd Billingsley at 8:37am PST   •   2 Comments

In 1978, California voters passed Proposition 13, which set property taxes at 1 percent of purchase price and limited increases in assessed value to 2 percent. Only when the property was sold could the property be reassessed to market value. Proposition 13 allows businesses to avoid such reassessment if no single entity acquires majority...
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Duck, Obamabuse is coming

Monday May 6th, 2013   •   Posted by K. Lloyd Billingsley at 9:04am PST   •   2 Comments

“It was always going to be difficult to implement Obamacare,” explains columnist David Brooks, “but even fervent supporters of the law admit that things are going worse than expected.” Now how could that be? Things got off to a bad start “because the Obama administration didn’t want to release unpopular rules before the election.”...
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Tax Credit Confession

Friday May 3rd, 2013   •   Posted by K. Lloyd Billingsley at 1:50pm PST   •   1 Comment

The Tax and Revenue Committee of the California Assembly will soon hear AB 927 authored by Assemblyman Al Muratsuchi. The measure allows various tax credits against the taxes imposed by the Personal Income Tax Law and the Corporation Tax Law: This bill would, under both laws, for taxable years beginning on or after January...
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The Chicken or the Egg?

Friday May 3rd, 2013   •   Posted by Craig Eyermann at 6:25am PST   •   3 Comments

We’re revisiting the academic furor of the Reinhart/Rogoff data controversy today because there has been some new analysis to come out of the debate that seeks to answer a good question: Does a high national debt burden lead to slower economic growth, or vice versa? Arindrajit Dube of the University of Massachusetts, Amherst, a...
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Obamacare Exemptions: “The Rules Don’t Apply to Us”

Thursday May 2nd, 2013   •   Posted by Cherylyn LeBon at 9:43am PST   •   6 Comments

Last week it was revealed that secret negotiations were happening on Capitol Hill between House and Senate leadership regarding a key requirement of Obamacare—that members of Congress and their staff purchase healthcare coverage through insurance exchanges. Republicans slammed the Democrats for trying to create a special exception for themselves in the President’s landmark health...
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The $800 per Person Uncertainty Tax

Wednesday May 1st, 2013   •   Posted by Carl Close at 3:32pm PST   •   3 Comments

On April 29, the U.S. Treasury announced that it expects to pay down $35 billion of the total national debt this quarter—the first debt reduction since 2007. Great news, right? Not so fast. That fat sum is miniscule compared to the size of the national debt—a mere 0.2 percent of the nearly $16.8 trillion...
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