Explaining Bidenflation

Explaining Bidenflation
Explaining Bidenflation

Honestly, explaining Bidenflation is all too easy. It’s the cost of voting stupid on a lot of people’s part and the cost of not forbidding the Dems from installing a doddering, senile, pedophile in the White House. And, despite Biden and his overworked handlers trying to blame everyone and everything else, the staggering rise of inflation is mostly and primarily a result of disastrous leadership, and devastating tax-and-spend policies.

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Voting With Their Feet

Makers Are Voting With Their Feet
Makers Are Voting With Their Feet

Bad policies matter, something that Democrats, the primary source of policies which are untenably bad for those who actively contribute to and grow the economy, don’t seem to be able to learn this. Or, since those who can be described as the Makers aren’t normally their constituencies, they don’t care. That’s why a lot of these Makers are voting with their feet.

Now, nationally it’s still a small thing, but one that has increased dramatically. Only about 2.5% of the current US population has emigrated. But that’s a little over double what it was 20 years ago. The numbers of wealth generators, i.e., actual taxpayers, who have internally migrated is far more stunning, and that’s what is actually important.

Which States Are Winning And Loosing
(Click Either Image Below To Enlarge)

Losers
Winners

 

As you can see, people with wealth are leaving Blue States in very expensive droves. Well, expensive to the Leftist governments of those Democrat safezones. Loosing over $55 billion in residents’ Annual Gross Income is no small or easily coped with thing for state governments. And the numbers shown are just personal monies. It doesn’t include all the businesses moving out of Democrat-controlled zone.

And, while this is going to have very large impact on politics, the economic impact and the follow-on effects thereof are going to be more important as we move into the not too distant future. It is not unwarranted to posit that many of the Left-wing areas will go the way of Detroit, which is still on track for effective abandonment, not being able to sustain its infrastructure without the tax monies of those who fled mismanagement and a government antagonistic towards those who generate actual wealth.

Yeah, millions of Americans are voting with their feet. And, their voting against Democrats’ bad ideas and punitive policies.

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No, He Will Bite

No, He Will Bite And The Dems Know It
No, He Will Bite And The Dems Know It

Despite the GOP’s scaremongering – it is election season, after all – the provisions with the Dems’ Orwellianly named Inflation Reduction Act to grant the IRS nearly $80 billion in new funding in order to, among other things, hire 87,000 new employees, won’t dramatically effect anyone in the next few years. Many of these “new hires” will simply be replacements for the current staff, approximately half of whom are at or approaching retirement age.

But, there’s no more truth or accuracy in the Dems’ claims that the middle-class and small businesses won’t experience greater scrutiny and/or audits. When the stated goal of increasing the IRS’ budget is to increase collections by $204 billion, you can be sure that the IRS is going to target anyone and everyone that they can. You can also be sure that the “Billionaires” and “Megacorporations,” most or all of whom have more and better tax attorneys than the IRS ever will, won’t be the IRS’ primary targets or the major sources of that $204 billion in extra tax collections.

Understand that approximately 50% of the largest corporations in America are already audited each year. Admittedly though, this is down from 100% of them during the Obama Regime. And yet, the Dems want to increase tax collection by $204 billion.

The largest corporations in the United States with over $20 billion of assets have had their rate of audits go from nearly 100% to 50%. Among wealthy individuals who had a positive income of a million dollars or more, the audit rate fell from 8.4% in 2010 to 2.4% in 2019.

Janet Holtzblatt
Senior Fellow, Urban-Brookings Tax Policy Center

But, simply put and much to the chagrin of Dems and their IRS, 38% of those audits fail to find any way to take more of these people’s and corporations’ money than they had agreed to pay.

No; their dog isn’t going to bite the “rich.” He will bite other people instead.

So, that fairly massive increase in tax collections is going to have to come from somewhere and somebody else. And it’s not going to be just the 1% either, since returning to Obama era audit rates for all individuals making over $400,000 would generate only 28%, or $9.9 billion of that expected $204 billion. And, even if the IRS increased audit rates 30x for taxpayers making over $400,000 and to a 100% audit rate upon taxpayers with incomes over $10 million, this would only raise to approximately $28 billion of it.

No, the IRS has a long and ongoing to this very day history of targeting the poor’s – those with $25K or less in income – tax returns for audits at a rate of 5x that of all other groups combined. I would expect that this rate would normalize somewhat… because the rates of audits will dramatically increase for those making between $26K – $200k per year and for most small-to-mid sized businesses, bringing them closer to what the poor suffer from.

It’s simple math and pragmatism. The IRS wants or needs to show increased collection and the poor and the middle-class through the 2%’ers are the ones without the resources to combat the IRS. And, there’s 100s of millions more of us. Of course we’re the ones who will be targeted by the IRS the most overall.

So yeah, the Democrats’ junkyard dog, the IRS won’t bite many now. But, it will most likely do so in 2026 and 2027 if it isn’t put down before then.

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The Work, Not The Worker

The Work, Not The Worker
The Work, Not The Worker, Is Worth The Wage

It’s a hard truth that most won’t conscious accept and all the Socialist sorts will violently deny that it is the work that is worth the wage, not the worker. No worker has any intrinsic value, on their work does. And, Ladies, Gentlemen, and Leftists, this is true for exactly 100% of us, irrespective of what sort of labor we perform or for whom.

And yes, that sucks! Then, more often than not, the objective truth sucks for somebody because they’re on the down side of it.

It’s truly simple. It’s the work you do – the product you produce or the service you provide – that has value to the consumer and, hence to the business, be it your employer or your own business. You, yourself are worthless in this equation; you have no value. You are replaceable, either by another worker or, as is more and more common, by an automated process.

But remember, as I said, this applies to all of us. This is totally equal and egalitarian, spanning both genders, all races, and all social classes.

If what you do and the amount of it you do isn’t worth both your wage and your amortized share of materials costs and overhead, you won’t be likely to have a wage anymore. And, by “wage” I do mean your total compensation package, every single dime that an employer has to spend upon you. Your employer – or you, if you own your own business – has to be able to sell the fruits of your labor for enough more than the fully-weighted cost of producing or providing it to make it worth doing so in the first place. Or the business will fail and you will have no wage.

Honestly, this is Economics 101R, but it seems to need to be taught again, and again, and again, because way too many people have serious and deep-seated illusions of worth.

But, and this is both a big and important but, a worker’s work may have more value than the employer either knows or is willing to admit in the absence of force. The effects upon both prices and profits at McDonald’s indicates that some employers can bear to pay more for the work their employees provide.

So, the correct way of thinking is what ones work is actually worth, not pretending that one as a worker has intrinsic worth in a business context.

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Inflation And Dems' Lies

Inflation - Actual vs Dems' Reports
Inflation – Actual vs Dems’ Reports

No matter what the Dem politicians, their mouthpieces, their Deep State departments, or their media tells us Americans, the inflation they’ve caused since ousting President Trump is far worse than what they’re admitting to.

And, Ladies and Gentlemen of America, it’s just going to get worse if we allow the Democrats to continue to be in a position where their politicians can continue their destructive agenda.

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