Archive for August, 2017

Lessons from Pillage People Smackdown


Wednesday August 30th, 2017   •   Posted by K. Lloyd Billingsley at 3:23pm PST   •   Comments Off on Lessons from Pillage People Smackdown

As we noted, in 1990, Gilbert Hyatt was awarded the patent for the first single-chip microprocessor. This invention earned Hyatt a lot of money and he soon moved to Nevada, which has no state income tax. California’s Franchise Tax Board (FTB) claimed Hyatt lied about his residency, and that he owed millions in state...
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California’s Pillage People Still Greedy After All These Years


Tuesday August 29th, 2017   •   Posted by K. Lloyd Billingsley at 4:12pm PST   •   Comments Off on California’s Pillage People Still Greedy After All These Years

In 1990, Gilbert Hyatt was awarded the patent for the first single-chip microprocessor. The computer industry welcomed this invention, earning Hyatt a lot of money. He soon moved to Nevada, which has no state income tax. California’s Franchise Tax Board (FTB) claimed Hyatt lied about his residency, and that he owed $7.4 million in...
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Dallas Police Force Shrinks in Face of Government Pension Bomb


Monday August 28th, 2017   •   Posted by Craig Eyermann at 6:13am PST   •   Comments Off on Dallas Police Force Shrinks in Face of Government Pension Bomb

The ongoing saga of Dallas’ failing government employee pension fund for its police officers and firefighters is continuing to play out to the detriment of the Texas city’s residents. When MyGovCost last checked on the story, the city’s mayor had rejected new property taxes to finance a taxpayer bailout of the insolvent pension fund....
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Moody’s: U.S. Credit Rating Safe in Government Shutdown


Thursday August 24th, 2017   •   Posted by Craig Eyermann at 5:25pm PST   •   Comments Off on Moody’s: U.S. Credit Rating Safe in Government Shutdown

It’s official! The 2017 edition of Government Shutdown Theater, which MyGovCost hinted was coming less that two weeks ago, was initiated by President Trump at a speech in Phoenix, Arizona on Tuesday, August 22, 2017. The Hill‘s Mike Lillis reports on the now increased chance that the U.S. government will be partially shut down...
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End of Operation Choke Point Good News for Abused Americans


Wednesday August 23rd, 2017   •   Posted by K. Lloyd Billingsley at 8:35am PST   •   0 Comments

With President Trump getting so much press, a few hangovers from the previous administration have managed to escape notice. As we noted, Operation Choke Point, supposedly a measure against consumer fraud, pressured financial institutions doing business with allegedly “high risk” companies. These included Ponzi schemes, payday lenders, escort services and such, but the DOJ...
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Will Trump End Antiquities Act Road Show?


Monday August 21st, 2017   •   Posted by K. Lloyd Billingsley at 11:31am PST   •   0 Comments

Since 1996, U.S. presidents have deployed the 1906 Antiquities Act to create 27 national monuments, including the Grand Staircase-Escalante National Monument and Bear Ears, both in Utah, and the 1.6 million-acre Mojave Trails National Monument in California, created in early 2016. President Donald Trump calls this a “massive federal land grab” that unilaterally puts...
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Federal Government Layoffs in the Works


Monday August 21st, 2017   •   Posted by Craig Eyermann at 6:31am PST   •   0 Comments

For a very long time, the employees of the U.S. government have had it really good. According to the Congressional Budget Office, the combination of regular wages with extremely generous benefits puts the total compensation of the federal government employees well ahead of their peers in the private sector. But that’s not all. Downsizing...
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The Curse of Corporate Welfare


Thursday August 17th, 2017   •   Posted by Craig Eyermann at 6:38am PST   •   0 Comments

When it comes to the amount of money that’s wasted by governments, it’s hard to beat corporate welfare for both its size and its endurance. All too often, once a company is gifted with taxpayer money to “stimulate the economy” or to “stabilize the market” or to “keep jobs here”, it opens the door...
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Transit Boss Bonanza Stresses Taxpayers


Monday August 14th, 2017   •   Posted by K. Lloyd Billingsley at 1:59pm PST   •   0 Comments

In California’s capital of Sacramento, rapid transit has been in terrible shape, but not for lack of spending on management. As we noted, after hiring Mike Wiley as manager, the RT district plunged into financial distress, tapping reserve accounts to balance its budget and raising fares 10 percent. Though a major bust as transit...
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The Return of the Debt Ceiling, 2017 Edition


Monday August 14th, 2017   •   Posted by Craig Eyermann at 6:26am PST   •   0 Comments

In what is almost an annual tradition now, the U.S. Congress will soon come up on the deadline where it must either approve a new increase in the statutory debt ceiling, the total amount of public debt outstanding that the U.S. government is officially allowed to have on its books, or risk defaulting on...
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