Dear Friends,
Rich Collins has agreed to be "arrested" for the benefit of the Muscular Dystrophy Association. Will you join him in helping Jerry's kids?
The lock-up will be Wednesday, December 8, at the Shawnee Country Club in Milford. In order to get out of jail, Rich needs you to make a donation towards his bail by that date.
Rich thanks you in advance for your help. Please go to the link below for all the details and to make a donation:
https://www.joinmda.org/MyLockup/MyHomepage/tabid/185575/Participant/pgalliance/Default.aspx
PERSONAL NOTE FROM RICH:
Folks, I know a few of you are disappointed that I'm not really going to jail. If so, you can make yourself feel much better by donating to Jerry's kids.
Tuesday, November 30, 2010
Monday, November 15, 2010
Tide will soon turn on Democrats in Delaware
Party triumphed this year, but tax increases will cause 2012 uprising
DELAWARE VOICE • By JOHN E. STAPLEFORD • November 14, 2010
Original Source:
http://www.delawareonline.com/article/20101114/OPINION07/11140305/1004/OPINION/Tide+will+soon+turn+on+Democrats+in+Delaware
While much of the nation swung toward the Republicans in the recent election, here in Delaware congressional, statewide and local elections overwhelmingly favored Democrats.
While the determinants of the congressional vote can be debated, Delaware voters have given Democrats increased control over the state Legislature. The Democratic majority in the Delaware Legislature not only remained but is now so large that any bill can be passed without any negotiations with Republicans.
It is an interesting outcome and raises the question, "Why didn't the voters of Delaware follow the national trend of expressing outrage at the current state of affairs?" This can be asked of both statewide and local races, and is evidenced not because Democrats won, but rather because the current majority remained in power regardless of which party it happened to be. Surprisingly, the answers are straight-forward.
First, Delaware residents are not paying the real bill for the runaway state and local government spending that has occurred over the past decade. Delaware exports 44 percent of its state and local tax burden, ranking fifth among all the states in being able to successfully shift the state and local tax burden out of state.
In addition, the state of Delaware has held taxes down by running up debt. Over the last decade, Delaware has gone from the middle of the pack on debt per capita to the fifth-highest among all states. State debt has doubled over the past seven years.
Not to mention the fact that local property taxes are kept low because public education is funded primarily at the state level. Delaware has the third-lowest property taxes as a percentage of median home value among all the states.
Finally, the Delaware residents who vote are not the folks most affected by the current economic hard times. While the recession has not hit Delaware as hard as many states, it has been very tough on groups whose voter participation rates are typically low: the poor, people with less education and the young. Counter to that, the voter participation rate for government employees is typically high. AFSCME and the teachers union have been very involved in this election cycle in Delaware.
Will the tide turn?
Yes. During the next two years, state and local taxes that affect Delaware residents and the Delaware economy are going to rise. The reasons for this are many. First, the federal stimulus money dries up in 2011. Second, state and local governments in Delaware can't shift operating expenses into debt much more without affecting their bond ratings.
Third, the majority party in control of the Legislature is not naturally inclined to cut spending, and the unions will work to make sure that the Legislature does not modify pension benefits nor address the unfunded health care liability of over $5 billion.
Fourth, the over-65 resident population in Delaware is going to explode. These folks are on fixed incomes and perceive themselves to be hard-pressed. They will be very upset with any state and local tax increases, and their voter participation rates are typically very high.
Finally, with the passage of the Dodd-Frank financial reform bill, the door has been opened for the pre-emption of Delaware corporate law and a shift of governance to the national level, with new requirements such as "say on pay" and jurisdictional changes. This will cripple the state's ability to export its tax burden.
So, there is a logic to the recent state and local elections in Delaware, and it will be interesting to watch over the next year and see how these issues are dealt with.
John E. Stapleford is director of the Center for Economic Policy and Analysis at the Caesar Rodney Institute.
Click below for the Original Source:
http://www.delawareonline.com/article/20101114/OPINION07/11140305/1004/OPINION/Tide+will+soon+turn+on+Democrats+in+Delaware
DELAWARE VOICE • By JOHN E. STAPLEFORD • November 14, 2010
Original Source:
http://www.delawareonline.com/article/20101114/OPINION07/11140305/1004/OPINION/Tide+will+soon+turn+on+Democrats+in+Delaware
While much of the nation swung toward the Republicans in the recent election, here in Delaware congressional, statewide and local elections overwhelmingly favored Democrats.
While the determinants of the congressional vote can be debated, Delaware voters have given Democrats increased control over the state Legislature. The Democratic majority in the Delaware Legislature not only remained but is now so large that any bill can be passed without any negotiations with Republicans.
It is an interesting outcome and raises the question, "Why didn't the voters of Delaware follow the national trend of expressing outrage at the current state of affairs?" This can be asked of both statewide and local races, and is evidenced not because Democrats won, but rather because the current majority remained in power regardless of which party it happened to be. Surprisingly, the answers are straight-forward.
First, Delaware residents are not paying the real bill for the runaway state and local government spending that has occurred over the past decade. Delaware exports 44 percent of its state and local tax burden, ranking fifth among all the states in being able to successfully shift the state and local tax burden out of state.
In addition, the state of Delaware has held taxes down by running up debt. Over the last decade, Delaware has gone from the middle of the pack on debt per capita to the fifth-highest among all states. State debt has doubled over the past seven years.
Not to mention the fact that local property taxes are kept low because public education is funded primarily at the state level. Delaware has the third-lowest property taxes as a percentage of median home value among all the states.
Finally, the Delaware residents who vote are not the folks most affected by the current economic hard times. While the recession has not hit Delaware as hard as many states, it has been very tough on groups whose voter participation rates are typically low: the poor, people with less education and the young. Counter to that, the voter participation rate for government employees is typically high. AFSCME and the teachers union have been very involved in this election cycle in Delaware.
Will the tide turn?
Yes. During the next two years, state and local taxes that affect Delaware residents and the Delaware economy are going to rise. The reasons for this are many. First, the federal stimulus money dries up in 2011. Second, state and local governments in Delaware can't shift operating expenses into debt much more without affecting their bond ratings.
Third, the majority party in control of the Legislature is not naturally inclined to cut spending, and the unions will work to make sure that the Legislature does not modify pension benefits nor address the unfunded health care liability of over $5 billion.
Fourth, the over-65 resident population in Delaware is going to explode. These folks are on fixed incomes and perceive themselves to be hard-pressed. They will be very upset with any state and local tax increases, and their voter participation rates are typically very high.
Finally, with the passage of the Dodd-Frank financial reform bill, the door has been opened for the pre-emption of Delaware corporate law and a shift of governance to the national level, with new requirements such as "say on pay" and jurisdictional changes. This will cripple the state's ability to export its tax burden.
So, there is a logic to the recent state and local elections in Delaware, and it will be interesting to watch over the next year and see how these issues are dealt with.
John E. Stapleford is director of the Center for Economic Policy and Analysis at the Caesar Rodney Institute.
Click below for the Original Source:
http://www.delawareonline.com/article/20101114/OPINION07/11140305/1004/OPINION/Tide+will+soon+turn+on+Democrats+in+Delaware
Two senators eye gas-tax hike to pay for highways and bridges
By Alexander Bolton - 11/09/10 04:42 AM ET
Original Source:
http://thehill.com/blogs/e2-wire/677-e2-wire/128293-two-senators-eye-gas-tax-hike-to-pay-for-highways-and-bridges-
A bipartisan pair of senators has urged President Obama’s debt commission to consider raising the gas tax to pay for infrastructure projects.
Sens. Tom Carper (D-Del.) and George Voinovich (R-Ohio) have written to the chairmen of the National Commission on Fiscal Responsibility and Reform advocating for a 25-cent per gallon tax increase.
“We suggest that the commission include an increase in the federal tax on gasoline and diesel as part of your report to the president,” they wrote. “We suggest that the taxes be increased by one cent per month for 25 months — a total of 25 cents over a three-year period.”
The lawmakers suggest 10 cents of the tax increase should go to deficit reduction and 15 cents should go to funding transportation infrastructure improvements.
It is one of many tax increases Congress is likely to consider in the months ahead as it wrestles with finding ways to reduce the nation’s $1.5 trillion budget deficit.
The proposal, however, seems likely to face staunch opposition from Republicans, many of whom ran on a firm anti-tax increase pledge. It is notable that Voinvoich, the GOP voice on the letter, is retiring at the end of this Congress.
He and Carper argue the nation’s infrastructure system is beginning to crumble.
“The Interstate Highway System is more than 50 years old and many roadways and bridges are reaching the end of their useful life,” they wrote. “In fact, nearly 50 percent of all bridges were built before 1966.”
The increase would more than double the current 18.4-cent federal tax on a gallon of gas, according to a Senate aide.
Both lawmakers sit on the Environment and Public Works Committee.
The age of the nation’s highways and bridges became a national issue in 2007 when the Interstate 35W bridge in Minneapolis collapsed, killing 13 people.
The letter was addressed to Erskine Bowles and former Sen. Alan Simpson (R-Wyo.), co-chairmen of the fiscal commission, which is due to submit its recommendations to Obama by Dec. 1.
The Treasury Department and the Congressional Budget Office are projecting the national highway trust fund will run out of money in a few years, according to a Senate aide.
The tax increase, when fully implemented, would cost drivers on average of $156 a year, or $13 extra per month.
Voinovich estimates the revenues that would go to transportation improvements would create 775,000 new jobs.
Voinovich has also questioned whether to extend the 2001 and 2003 tax cuts passed under President George W. Bush.
“My gut is probably no,” Voinovich told The Hill in September. “I think I would probably not vote, period, for it.”
Chris Prandoni, the federal affairs manager at Americans for Tax Reform, a group that advocates for lower taxes, panned the proposal to increase gas taxes.
“I think the proposal by Sen. Voinovich is very discouraging considering the recent election, which you could argue is a repudiation of these tax and spend policies,” Prandoni said
“We spend all this money to create jobs, and we saw it didn’t work in 2009 with the stimulus,” he said.
But Carper and Voinovich argue taxpayers will have to pay for the transportation improvements either way, because Congress is expected to transfer billions of dollars from the general treasury to the trust fund to fix roads and bridges.
They note the CBO estimates the highway trust fund will require $34 billion over the next six years.
“This situation will force Congress to decide between two unacceptable solutions: additional transfers from the General Fund, which will lead to a higher deficit, or a sharp reduction in federal transportation funding for every state, which will create additional unemployment and continued deterioration of infrastructure,” the senators wrote.
Prandoni of Americans for Tax Reform, however, disagrees with that rationale.
“Taxing our way out of problems isn’t going to solve anything,” he said.
Congress last increased the gas tax in 1993, under former President Clinton, raising it by 4.3 cents per gallon, according to a Senate aide.
Congress also increased the gas tax in 1990, under former President George H. W. Bush, raising it 5 cents per gallon.
Both times lawmakers voted to increase the gas tax a portion of the revenues went to deficit reduction.
Source:
http://thehill.com/blogs/e2-wire/677-e2-wire/128293-two-senators-eye-gas-tax-hike-to-pay-for-highways-and-bridges-
The contents of this Article are © 2010 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.
Original Source:
http://thehill.com/blogs/e2-wire/677-e2-wire/128293-two-senators-eye-gas-tax-hike-to-pay-for-highways-and-bridges-
A bipartisan pair of senators has urged President Obama’s debt commission to consider raising the gas tax to pay for infrastructure projects.
Sens. Tom Carper (D-Del.) and George Voinovich (R-Ohio) have written to the chairmen of the National Commission on Fiscal Responsibility and Reform advocating for a 25-cent per gallon tax increase.
“We suggest that the commission include an increase in the federal tax on gasoline and diesel as part of your report to the president,” they wrote. “We suggest that the taxes be increased by one cent per month for 25 months — a total of 25 cents over a three-year period.”
The lawmakers suggest 10 cents of the tax increase should go to deficit reduction and 15 cents should go to funding transportation infrastructure improvements.
It is one of many tax increases Congress is likely to consider in the months ahead as it wrestles with finding ways to reduce the nation’s $1.5 trillion budget deficit.
The proposal, however, seems likely to face staunch opposition from Republicans, many of whom ran on a firm anti-tax increase pledge. It is notable that Voinvoich, the GOP voice on the letter, is retiring at the end of this Congress.
He and Carper argue the nation’s infrastructure system is beginning to crumble.
“The Interstate Highway System is more than 50 years old and many roadways and bridges are reaching the end of their useful life,” they wrote. “In fact, nearly 50 percent of all bridges were built before 1966.”
The increase would more than double the current 18.4-cent federal tax on a gallon of gas, according to a Senate aide.
Both lawmakers sit on the Environment and Public Works Committee.
The age of the nation’s highways and bridges became a national issue in 2007 when the Interstate 35W bridge in Minneapolis collapsed, killing 13 people.
The letter was addressed to Erskine Bowles and former Sen. Alan Simpson (R-Wyo.), co-chairmen of the fiscal commission, which is due to submit its recommendations to Obama by Dec. 1.
The Treasury Department and the Congressional Budget Office are projecting the national highway trust fund will run out of money in a few years, according to a Senate aide.
The tax increase, when fully implemented, would cost drivers on average of $156 a year, or $13 extra per month.
Voinovich estimates the revenues that would go to transportation improvements would create 775,000 new jobs.
Voinovich has also questioned whether to extend the 2001 and 2003 tax cuts passed under President George W. Bush.
“My gut is probably no,” Voinovich told The Hill in September. “I think I would probably not vote, period, for it.”
Chris Prandoni, the federal affairs manager at Americans for Tax Reform, a group that advocates for lower taxes, panned the proposal to increase gas taxes.
“I think the proposal by Sen. Voinovich is very discouraging considering the recent election, which you could argue is a repudiation of these tax and spend policies,” Prandoni said
“We spend all this money to create jobs, and we saw it didn’t work in 2009 with the stimulus,” he said.
But Carper and Voinovich argue taxpayers will have to pay for the transportation improvements either way, because Congress is expected to transfer billions of dollars from the general treasury to the trust fund to fix roads and bridges.
They note the CBO estimates the highway trust fund will require $34 billion over the next six years.
“This situation will force Congress to decide between two unacceptable solutions: additional transfers from the General Fund, which will lead to a higher deficit, or a sharp reduction in federal transportation funding for every state, which will create additional unemployment and continued deterioration of infrastructure,” the senators wrote.
Prandoni of Americans for Tax Reform, however, disagrees with that rationale.
“Taxing our way out of problems isn’t going to solve anything,” he said.
Congress last increased the gas tax in 1993, under former President Clinton, raising it by 4.3 cents per gallon, according to a Senate aide.
Congress also increased the gas tax in 1990, under former President George H. W. Bush, raising it 5 cents per gallon.
Both times lawmakers voted to increase the gas tax a portion of the revenues went to deficit reduction.
Source:
http://thehill.com/blogs/e2-wire/677-e2-wire/128293-two-senators-eye-gas-tax-hike-to-pay-for-highways-and-bridges-
The contents of this Article are © 2010 Capitol Hill Publishing Corp., a subsidiary of News Communications, Inc.
Saturday, November 13, 2010
Positive Growth Alliance’s 5th Annual Christmas Mixer!
We hope you will join us at our 5th annual Christmas mixer! It will be held on Tuesday evening, December 7th from 5:30 till 7:30 pm at the beautiful Clubhouse at Baywood. A $15 donation at the door helps us to pay for the wonderful spread of lite fare, including something for everyone! You will meet some great folks, enjoy holiday cheer, all while networking in a great environment.
The Positive Growth Alliance is a nonpartisan, nonprofit, tax-exempt organization, founded on the principle that FREE ENTERPRISE is the best means for improving the Quality of Life. We work WITH government officials and the public who believe that consumers should control their access to goods, services, and housing through these principles, and hence control our own destiny and standard of living. We advocate for the protection of private property rights and act as a government watch dog to help alleviate excessive government intrusion.
R.S.V.P. 302-684-8025 JOIN US!
More Details... https://pgalliance.org/
The Positive Growth Alliance is a nonpartisan, nonprofit, tax-exempt organization, founded on the principle that FREE ENTERPRISE is the best means for improving the Quality of Life. We work WITH government officials and the public who believe that consumers should control their access to goods, services, and housing through these principles, and hence control our own destiny and standard of living. We advocate for the protection of private property rights and act as a government watch dog to help alleviate excessive government intrusion.
R.S.V.P. 302-684-8025 JOIN US!
More Details... https://pgalliance.org/
Friday, November 5, 2010
CRITICAL FINANCIAL NEWS
Positive Growth Alliance members & interested parties:
Now that the election is over, expect things to happen fast on the financial front. We have just discovered this financial blog that focuses on the critical news of the economy that few understand or are talking about. I would urge you to open it and read the first post regarding potential inflation.
Also, make sure you page down to the several articles that discuss the recently discovered fraud in mortgage foreclosures and also fraudulent handling of mortgage documents in general. It appears there could be major implications for banks.
We'll be posting a new button on our website at www.pgalliance.org entitled "The Financial Physician." It could easily become the most important area on the site for many, especially those who understand the importance of financial knowledge in these unpredictable times.
Thanks,
Rich Collins
302-381-1610
http://www.thefinancialphysician.com/blog/
Now that the election is over, expect things to happen fast on the financial front. We have just discovered this financial blog that focuses on the critical news of the economy that few understand or are talking about. I would urge you to open it and read the first post regarding potential inflation.
Also, make sure you page down to the several articles that discuss the recently discovered fraud in mortgage foreclosures and also fraudulent handling of mortgage documents in general. It appears there could be major implications for banks.
We'll be posting a new button on our website at www.pgalliance.org entitled "The Financial Physician." It could easily become the most important area on the site for many, especially those who understand the importance of financial knowledge in these unpredictable times.
Thanks,
Rich Collins
302-381-1610
http://www.thefinancialphysician.com/blog/
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