Cheapo Groovo

Government Workers Feel No Economic Pain

Private-industry employers spent an average of $27.42 per hour worked for total employee compensation in December, while total compensation costs for state and local government workers averaged $39.60 per hour.

The average government wage and salary per hour of $26.11 was 35 percent higher than the average wage and salary of $19.41 per hour in the private sector. But the percentage difference in benefits was much higher. Benefits for state and local workers averaged $13.49 per hour, nearly 70 percent higher than the $8 per hour in benefits paid by private businesses.

The California legislature took a reckless gamble that makes Wall Street's bankers look cautious. At the top of a bull market, they enacted a huge pension boost for public-safety and industrial unions. The bill reconfigured the compensation formula for pension benefits of all public-safety employees who retired on or after January 1, 2000. It let firefighters retire at age 50 and receive 3% of their final year's compensation times the number of years they worked. If a firefighter started working at the age of 20, he could retire at 50 and earn 90% of his final salary, in perpetuity. One San Ramon Valley fire chief's yearly pension amounted to $284,000—more than his $221,000 annual salary.

Sources: WSJ & Washington Times

The Tyranny of the Tax Man

In 1913, the entire federal tax law, plus explanations and other related material, fit into a single 400-page volume. Today, they total 40,500 pages in 22 volumes. And the list below shows you all the taxes that have been added. Yet the government is broke??????

1. Accounts Receivable Tax
2. Building Permit Tax
3. CDL License Tax
4. Cigarette Tax
5. Dog License Tax
6. Federal Unemployment Tax (FUTA)
7. Fishing License Tax
8. Food License Tax
9. Fuel Permit Tax
10. Gasoline Tax
11. Hunting License Tax
12. Inheritance Tax
13. Interest Expense Inventory tax
14. IRS Interest Charges IRS Penalties (tax on top of tax)
15. Liquor Tax
16. Luxury Taxes
17. Marriage License Tax
18. Medicare Tax
19. Property Tax
20. Real Estate Tax
21. Social Security Tax
22. Road Usage taxes
23. Sales Tax
24. Recreational Vehicle Tax
25. School Tax
26. State Unemployment Tax (SUTA)
27. Telephone Taxes such as federal excise, universal service fee tax, federal, state and local surcharge taxes
28. Utility Taxes
29. Vehicle License Registration Tax
30. Vehicle Sales Tax
31. Watercraft Registration Tax
32. Well Permit Tax
33. Workers Compensation Tax

 

Greedy Government Taxes Groceries

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Local Governments To Bill You For Fire Protection

While most of us think that our property taxes cover such services, a growing number of communities are charging "fire fees". An important note to remember is that fire services generally include not only fire fighting, but EMT as well. In the most outrageous case to date, a New Castle Indiana family that lost their home in a fire were shocked to receive a bill for nearly $28,000!

I'm not a lawyer, but under contract law, the promise to do something one is already contractually obliged to do is not, traditionally, regarded as good consideration. In other words, you have no valid contract and are not obligated to pay.

Research these links for yourself: http://alturl.com/4fnf | http://alturl.com/2zee | http://alturl.com/b2k5

USA Borrowing Costs Increased by 12% This Week Alone

Stat: For every tril­lion dollars the gov­ern­ment bor­rows, a one basis point increase in inter­est rates trans­lates to an extra $100,000,000 in annual bor­row­ing costs.

Looking at the 10 year Treasury, it went from 2.009% on Monday to 2.298% on Friday. That is 30 basis points!

And next week, look for an increase in mortgage rates.  So much for those people who decide it is o easy to become a landlord.

Employee Paychecks Will Be Sent To Government, Then Paid Out By Bank Transfer

The state will seize all paychekcs, collect what they deem a fair tax, then send you a pittance to live on.

Nanny government sees the writing on the wall - squatters everywhere, a booming underground economy, neighborhoods using their own currency, the tea party movement, etc. This is not some conspiracy theory. The article ran on CNBC's web site, then was taken down. But I have this version to prove it.

Stop The Carbon Tax

While Al Gore, Bono, and the United Nations want to place a carbon tax on us, they remain silent about these alternatives:

1. GOOGLE "city sues man for cancelling trash service"
2. New home construction should use rain harvesting
3. Re-build communities so churches, schools, and shopping are within walking distance
4. Have governments’ do more than symbolic efforts
5. Stop Saturday mail delivery
6. Put timers on streetlights
7. Automate toilet flushing in public areas (stadiums where 100,000 fans flush toilets)
8. Use public service announcements and direct mail to convince businesses to turn off computers and fluorescent lights at the end of the day
9. Go back to local organic farming
10. Find alternatives to all the petroleum based products we use (Ammonia, Anesthetics, Antihistamines, Artificial limbs, Artificial Turf…Lip Stick, Milk Jugs, Nail Polish, Oil Filters, Pantyhose, Perfume, Petroleum Jelly, Rubber Cement, Rubbing Alcohol, Shampoo, Shaving Cream, Shoes, Toothpaste, Trash Bags, Upholstery, Vitamin Capsules, Yarn)

Earthlights

5 Outrageous Money Facts

1. Currently the U.S. monetary base is sitting somewhere around 2.7 trillion dollars.  So if you went out and gathered all of that money up it would only make a small dent in our national debt.  But afterwards there would be no currency for anyone to use.
2. U.S. households are now actually receiving more money directly from the U.S. government than they are paying to the government in taxes.
3. The government's total indebtedness -- its fiscal gap -- now stands at $211 trillion, by my arithmetic. The fiscal gap is the difference, measured in present value, between all projected future spending obligations and all projected future taxes.
4. The United States government is responsible for more than a third of all the government debt in the entire world.
5. The total notional value of all OTC derivatives (the ones responsible for the crash of 2008) now exceeds one quadrillion dollars!

Financial Regulators Ignore Financial Crime

The problems with naked short selling have been all over the mainstream media. But hardly a peep when clearing firms fail to deliver stock after a trade. It's analogous to selling a product on EBay and then failing to ship it to the buyer.

Here is the list of Threshold Securities from yesterday.

Please contact your Congressperson and the SEC. Tell then to start enforcing existing law (Section 17A of the 1934 Securities Exchange Act)!

New IRS Rules Stifle Seasonal Tax Preparers

As those who read this blog know, job creation cannot occur unless regulations are rolled back. But the exact opposite is happening.  Here is yet another example:

New regulations for paid preparers will roll out in three phases:

• Phase 1: Apply for or renew your PTIN.
• Phase 2: Pass a proficiency exam
• Phase 3: Complete Continuing Education Credits

Full Details