Get the Picture?

Kodak was a major film and camera business in Rochester , New York. When I lived in Rochester Kodak was considered the dream of the crop. In 1982 Kodak employed over 60,000 people. A truly massive amount for the region. And about 100,000 worldwide.

Not only was Kodak the major employer, it was one of the best employers. If you worked at Kodak in any capacity you had a “good job”. Scientist. Technician.Inventor. Chemist. Factory worker. Engineer. It didn’t matter. Kodak took care of you.

Kodak had no union. Not needed. The pay was always good. The working conditions decent. And the bonuses! The bonuses! Every March Kodak gave out holiday bonuses. To everyone. I don’t mean $10 in an envelope bonuses.

From John Kucko Digital, a Rochester reporter:…………..    …….

“For many years, generations even, this week in March was like a national holiday for the nearly 100,000 working at Eastman Kodak across the globe back in the day. The Kodak Bonus was a day on the calendar everyone looked forward to, especially here in Rochester. Company founder George Eastman implemented the bonus in 1912 and it continued for decades. Mr. Eastman valued employee loyalty and believed in rewarding those who worked hard for him. In 1984, Kodak paid out over $254 million to some 93,000 employees throughout the company. This was money that was reinvested in Rochester as workers, in many cases, pumped the money into the local economy. Auto dealers enjoyed a major surge in business, as did most everyone else. Mr. Eastman was at the forefront of employee relations and his way of doing business was the template followed by many. If an employee had a good idea, Mr. Eastman made sure to reward them. Translation: employee morale was off the charts in those golden years. I believe the days of the Kodak Bonus began to decline in 2001 or so and the rest was history….”

 But, as happens with many companies, Kodak was sold. And the new management brought in new ideas. Mainly, selling off the assets and firing workers. Eventually declaring bankruptcy in 2012. And by  2012 the company had a Rochester workforce of 1,600 employees. A well run family owned company stripped by pirates……

So, it was very odd when Mr Trump announced he was giving the “new” Kodak a loan of more than a quarter of a billion dollars. ($ 765,000,000 to be exact) .This money is coming from the Defense Production Act. Now, you may ask why the president is giving a loan to a failed camera and film making company. Do we need more film? Of course not……

This money is not going to produce film. It is going to a “start up” company. Kodak, stripped of assets and recently driven into bankruptcy, is being given taxpayer supplied loans to start a pharmaceutical company. A drug making company. Because one thing we need is more drug making companies. And what better candidate for a drug start up than a bankrupted film company?…..

In the middle of a hurricane is the best time to start up an umbrella company. Don’t invest in companies already set up to produce new and better umbrellas. Nope. Find a company that used to make napkins. But went broke making napkins. And give them a loan to try to figure out how to make umbrellas……

There is more to the story. Kodak, which was temporarily thrown off the NY Stock Exchange is back on. And for the entire month of July Kodak stock was stable at about $2.10 a share. And trading was anywhere between 70,000-200,000 or so shares a day. But then. WHAM. On Monday (the day BEFORE Trump’s announcement) there was an unexplained jump in Kodak trading. On Friday there were 75,000 shares traded and on Thursday about 80,000 shares traded……

But on Monday, before Mr Trump’s announcement, there were 1,600,000 shares traded and the stock price went through the roof. By the time Wednesday rolled around shares had increased by over 300%. Somebody had an excellent crystal ball! Good timing!…..

So, we have a bankrupt film manufacturing company that gets a massive loan to start a drug business in the middle of a pandemic.  And somebody had the foresight to buy up a whole lot of stock…..

Get the picture?…..

https://www.facebook.com/JohnKuckoDigital/posts/the-kodak-bonus-for-many-years-generations-even-this-week-in-march-was-like-a-na/2273044476299429/

https://www.cnbc.com/2020/07/29/kodak-executive-chairman-addresses-jump-in-trading-activity-before-government-deal-was-announced.html

 

You Bought What?

So, $600,000,000,000 (that’s $600 billion) has gone missing. Well, not really missing. Somebody has it. That’s the money that was earmarked for small businesses to help them get through the covid-19 pandemic.

The money Congress appropriated. Legal. Now, in order to get some of this money a business had to fill out an application. An application which made it clear that this money was not given in secret. No right to privacy. After all, its the taxpayers money you are getting.

Then something strange happened. My good friend, Stephen Mnuchin , Secretary of the Treasury, has decided the American people do not have the right to know what happened to those $600,000,000,000. (That’s billion).It’s secret. Hush. Hush money?

So, I called Steve and asked him about it.

Me: Hello Steve, how’s the trophy wife?

Steve: HA HA , you wish. She’s fine.

Me: What about this $600 billion dollars you gave away. Where did it go?

Steve: None of your business. Top secret. Private. No one needs to know. Trust me. It has all gone to a good cause.. or two.

Me: But shouldn’t the taxpayers know how their money is being spent? You know, oversight? Transparency?

Steve: Joe, Joe, Joe. You crack me up. I am the Secretary of the Treasury. It’s MY money, you silly guy…. (end of conversation)..

So, I say to myself, you know. Steve has the right idea. I think (and this is where I always get into trouble) I might try this in my own house. Not being as frugal as my better half, I have absolutely no savings. But, lucky spouse that I am, Betsy has a few bucks tucked away.

Being a rather charming and eloquent guy, I convinced Betsy to “loan” me $3,000 from her savings. She, of course, wanted to know why I needed the cash. I assured her that there are MANY things that need to be done around the house. And I was planning on putting the money to good use. It is probable that visions of painting rooms, fixing gutters and rewiring the basement flittered through her imagination. Who was I to dismiss such fantasies?

Anyhow. A week later.

Betsy: So, what have you bought with the money I gave you?

Me: Essentials. Things we needed. And I provided. I’m a provider.

Betsy: What, specifically.

Me: All kinds of good things. Things to make our household great again. Things you would approve of. Wonderful things.

Betsy: Look, Buster. I want specifics. What did you spend my 3,000 bucks on? And it better be good.

Me: Well, as my good friend Stephen Mnuchin says, you really don’t need to know. I consider it private . Let’s call it proprietary information. Need to know basis. None of your business, my dear. You are out of the loop, darling…… (end of conversation)…

An hour later, after I had time to staunch the bleeding in my nose and the ice pack on my left eye had melted, I hobbled out to the car. With tears in my eyes I drove back to Golfer’s World and reluctantly returned the $3,000 set of golf clubs and accoutrements.

As I was leaving the store I saw Steve and his wife exiting Alfredo’s Luxury Furs. Now, to be precise it was not his first wife, Kathyrn. Or his second wife, Heather. No. It was his third wife, Louise. And she was sporting a very fine Ocelot skin jacket. They made a very attractive couple.

Me: Hey, Steve, I was just wondering where…. (he interrupted, raising his hand)…

Steve: Don’t even ask. Proprietary information.

I wish Betsy had been with me.

National Emergency 101 Quiz

If the following IS a national emergency answer YEPPER. If not, answer, NOPER.

1. Russia actively interferes with the 2016 election and helps Donald Trump get elected?

2. The Trump administration cuts funding for the FBI task force investigating and trying to prevent Russian election interference in 2020?

3.At the World Trade Center catastrophe of 9/11/2001,  3,000 Americans were killed. Since then, an average of 3,000 Americans each month have been killed by guns . That is a total of over 612,000 Americans killed by guns. National emergency?

4. The hottest, driest years on record due to global climate change have lead to extensive fires and droughts?

5. The US and Russia pulling out of the arms reduction agreements?

6. Over 25,000,000 Americans without quality health insurance due to the recent erosion of the ACA?

7. A record 22 trillion dollar debt, built up largely due to the 2 trillion dollar tax giveaway to the wealthiest 1%?

8. Growing and eventual insolvency of Social Security unless action is taken immediately?

9. Selling off of national parks, created long ago by Teddy Roosevelt,  to the fossil fuel industry for the short term economic gain of a dying industry?

10. A family of Guatemalans, including a 5 year old and a 3 year old,  fleeing death in their homeland, are posing a major threat to US safety and security?

If you answered YEPPER to # 10, you are an idiot.

Mr Reed on the Backs of our Children

My Congressman is Tom Reed of NY-23. A staunch Trump supporter and one of the key members of the Ways and Means Committee responsible for the GOP tax bill. I called his office at 10:30 this morning and spoke with one of his staff members for 15 minutes. Here are the questions I asked and the answers I received.

Q. How many expert Congressional hearings has Mr Reed attended?

A. Don’t know exactly. There have been a few. Also he is on Ways and Means which had some hearings.

Q. Has Mr Reed read the entire bill, all 1000 pages ?

A. Yes. He has read the entire bill.

Q. Does Mr Reed gain financially from this bill, in the sense of the “Corker Kickback”? Any specific provisions which help him?

A. Do not know. Thinks not, however.

Q. According to some analyses, over the next 10 years 83% of the tax benefits go to the top 5% of people and corporations. Why does Mr Reed think the top earners need a break more than the bottom 95%?

A. Not familair with that analysis so can’t speak to it. The idea is to be pro-growth which will create jobs.

My follow up: Isn’t that what George Bush tried and it did not create jobs, called supply side?

A. Would not characterize it. Not familiar enough with the Bush plan to respond.

Q. The tax law keeps in place giving tax credits for taxes paid abroad. Doesn’t this discourage companies from creating jobs in the US if they can continue to take an overseas tax credit?

A. Is not familar with this provision. Can’t answer.

My follow up: If you want job creation at home wouldn’t it be better to tie any tax breaks to spending on jobs in the USA? Make job creation in the US a requirement for getting the tax break?

A. Will pass on my idea to the Congressman.

Q. The Center on Budget and Policy Priorities calculated that 10,000,000 lower income  families would get an increase in the child tax care credit of $75 a year. That amounts to an increase of 50 cents a day. Is this a good increase for poor people raising children?

A. The child credit remains and has been increased so poor families get a $2,000 tax credit, which in an increase. And they can get $1,400 in taxes returned.  

Q. On April 15, 2011 when Mr Obama was president, Mr Reed released this statement: “We are borrowing $58,000 per second on the backs of our children and grandchildren… Reducing spending and getting the national debt under control in the single most important issue…. Trillions of private dollars sit on the sidelines waiting to see if we are serious about reducing the deficit and paying down our debt….” Has Mr Reed changed his mind abut the deficit?

A. We are concerned about the deficit and debt. We are pro-growth and Mr Reed is concerned about spending.

Follow up: What specific spending does he want to cut?

A. Can’t answer.

The staff member, who was very polite and patient with me said he would try to contact others who could answer my questions.

Mr Reed used to be concerned about expanding deficits. Evidently he has concluded that our children have strong backs. They are going to need them.

Turkey Tax Theory

For over 30 years I have insisted on cooking the Thanksgiving turkey. I say “insisted”. It is my right as the head of the family. As a man. I decide these things. I know better than anyone else how to cook a turkey, so I take control. End of discussion. (Right, dear?)

I have a very sound theory of turkey cooking. First, you buy a turkey.  Then you cook it. Simple. Common sense.

Of course some folks might look to socalled “experts” when it comes to cooking turkey, but not me. They look in cook books and on line videos and some even ask grandma. But not me. I have a theory and I am sticking to it.

Now, the cookbook “experts” will tell you to cook a turkey at 325 degrees for a certain length of time, depending on the size of the bird. So much for experts. I have been using my own theory for 30 years. Ignoring the experts.

Here’s my theory.  I get a 15 pound turkey. Now, the “experts” say that you should cook a 15 pound turkey at 325 degrees for 3-3 1/2 hours. Balderdash. My common sense theory says  this is a waste of time. I don’t want to wait 3 1/2 hours for a turkey.  So, using common sense and math (Well, a calculator) my theory says this.

Cooking a turkey at 650 degrees will shorten the cooking time by exactly one-half. So, my turkey will be ready at 1 1/2 hours or so. No reason to wait for 3 hours. Simple. To the point. Common sense. A theory any idiot can understand.

I have been cooking Thanksgiving birds like this for 30 years and EVERY year, I mean EVERY year, the turkey ends up charred on the outside, partially cooked on the inside and a smoking mess. There is always a problem with the smoke filling the kitchen and the smoke alarm going off. I solve that easily by opening windows and disabling the smoke alarm ahead of time. Clever. The volunteer fire department is on retainer.

Why does the turkey always burn? For the first 20 years I figured it was a bad batch of turkeys. Not my fault. So I tried every turkey under the sun. I cooked each of the following , in order:

Honeysuckle, Butterball, Jennie-O, Norbest, Shay Brook, Riverside, Foster Farms, Boar’s Head, Plainville Farms, Trader Joe’s , Nature’s Promise, Perdue, Smithfield, Organic Prairie, Carolina, Pilgrim’s Pride, Applegate, Private Selection, O Organics, Cooper Farms.

As fate would have it, every one of these turkeys ended up being defective. They all burned.  They all filled my kitchen with smoke. Sad. Very sad. I thought maybe you just can’t get a decent turkey nowadays.

But then I thought. Wait. Maybe it’s the oven. So, I bought a new oven. Nope. Same problem. No matter what turkey I tried or oven I tried the end product was the same. I know that if only I had the right turkey and right oven my theory would be proven. It is just a matter of time. No amount of evidence can dissuade me from my theory.

Which brings us to the latest Tax Plan.

In 1980 Ronald Reagan had a great theory. A SPLENDID theory. Increase spending on the military. Give money to the rich by lowering taxes and they will create jobs. The economy will BOOM and unemployment will disapper. So, he put the theory into practice.  George H W Bush called it “voodoo economics” and said it would not work. By 1982 the US economy had experienced a recession and unemployment had RISEN to 10.8%. The GDP declined 2.7%. Opposite of the growth expected. Still, despite the evidence, it was a good theory.

In 1990 there was another smaller recession. This time George HW Bush was president. He had run on the slogan of “No New Taxes”. A great theory. Unfortunately circumstances beyond his control led him to abandon that theory and call for “revenue increases” to stabilize spending.  But he still had a good theory.

In 2001 George Bush had a theory. If we cut taxes on the wealthy they will invest in US jobs. GREAT! Wonderful theory. So, Congress cut corporate and individual taxes to stimulate the economy.  And he theorized that we needed to de-regulate big business. Too many restrictions were just strangling these major corporate and financial institutions. So, de-regulate we did. Excellent theory. Of course, it would take a few years for the effects to be felt. But the theory was sound.

And the effects were the biggest recession since 1945. Growth tanked to a negative 5.1%. Unemployment rose to 10%. Big money investors with all that extra capital did not create jobs in the US. Deregulated financial institutions simply made bad loans with investors money and went bust. (Well, they didn’t go bust, they got bailed out. Another theory. Too big to fail… even when they do).

When President  Obama left office unemployment was about 4%. A relatively stable rate. And there were no Obama-era recessions.So, the economy is back on track and continues to chug along. No reason to tamper with it.

BUT, we need to follow theories, not evidence. So, Congress is proposing the biggest tax breaks ever while proposing a massive increase in military spending . In 2015 the USA spent more on the military ($ 597,000,000,000 that’s billion) than the next 10 nations combined. The US spent more than the total spent by China, Saudi Arabia, Russia, UK, India, France, Germany, Japan, S Korea and Brazil…COMBINED). This is not to suggest the US does not need a strong military, but this seems a bit excessive. Spend more, take in less. Voodoo economics, anyone?

So, once again we are following a theory that has been shown to have no evidence supporting it, IF the goal is a stable , fair economic system. But the theory sounds pretty good.

For my part, I continued to use my theory to cook my Thanksgiving turkey. Despite the naysayers. OK, so it got burned again this year. No turkey for Thanksgiving. On the positive side, my wife has made a standing reservation for Thanksgiving at Hop Sing’s Chinese Restaurant.  She is  no theoretician. And I am developing a taste for Mu Shu Pork.

http://www.butterball.com/how-tos/roast-a-turkey

https://www.ranker.com/list/best-turkey-brands/ranker-shopping

https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States

https://en.wikipedia.org/wiki/Read_my_lips:_no_new_taxes

https://en.wikipedia.org/wiki/List_of_countries_by_military_expenditures

Booze and Women

Regarding the new GOP tax plan which shuffles billions of dollars from working Americans to the top one-half of one per cent.

“I think not having the estate tax recognizes the people that are investing,” Grassley told the Register. “As opposed to those that are just spending every darn penny they have, whether it’s on booze or women or movies.”

I am not sure if this is true so I interviewed 2 people. One is a billionaire heiress to a real estate fortune who shall remain anonymous. I shall call her Ivania. The other is a shmuck who worked in factories, sweat shops and as a teacher for over 30 years. I will call him Joe the Shmuck.

Me: Hello, Ivania. Congratulations on receiving a massive inheritance allowance and other tax breaks in the new tax bill.

Ivania: Thank you. No one deserves it more than me.

Me: So, how many jobs do you intend to create with this new found wealth ? Do you feel that you that have earned this windfall?

Ivania: Oh, yes. I have had to work very hard being born into just the right family. It is not easy being wealthy. For example, do we cater in Lobster Newberg or Filet Mignon tonight? Do we open the bottle of “Moet and Chandon Dom Perignon” or the “Boerl and Kroff Brut Rose” ? Would you have any idea which to serve? Commoners just don’t understand the intense pressure I am under.

Me: I see. Back to my question. What do you intend to do with this multi-million dollar windfall? Will you invest it in new jobs in America?

Ivania: Of course. My investment advisor has already begun adding to my investments. I have created thousands of jobs already in my tote bag and high heel shoe factories.

Me: But aren’t those factories in China? And Vietnam?

Ivania: Well, yes. But there is a trickle down effect. Eventually, as we create jobs in China and depress wages in the US, we will be able to bring back jobs to this nation I love so dearly. American commoners must be able to compete with the wages we pay in China. We hope to someday get those wages on par with each other. Right now it is those unions that prevent us from creating more good jobs in the nation I love.

Me: OK. So, you won’t be investing in the USA, is that the bottom line.

Ivania: (chuckling)  I got mine. That is the bottom line. Did I mention how much I love America?

So, after this rather unsatisfying interview I found Joe the Shmuck, retired factory worker and teacher.

Me: Hello, Joe the Shmuck. Can I call you Joe?

Joe the Shmuck: I have spent my entire adult life working for a living and paying my taxes. You can call me Shmuck.

Me: OK, Shmuck. Senator Grassley has made the comment that people like you will just take any tax break and spend it on women and booze. What is your response?

Shmuck: DUH. Of course we will. He is correct.

Me: WOW! So you admit that you will spend any tax breaks on women and booze? Really?

Shmuck: I have in the past, why change now? What choice do I have?

Me: Explain to me then why you should get a tax break if you will just spend it on women and booze?

Shmuck: Look, I worked two jobs most of my life. At least 8 hours a day. Some days 12 hours or more. I have worked in factories, day labor, teaching and coaching and advising students. All for pretty meager wages. So, what do you think? I am not going to come home and have a beer? Of course I spend my money on booze. Wouldn’t you?

Me: Well, ok. but what about spending all your money on women?

Shmuck: I have a wonderful wife and a wonderful daughter. Unfortunately they are money pits. I mean, who needs more than 2 pair of underwear? Women, that’s who. Who needs to get their hair done? Women, that’s who. Not to mention quality food, clothes and  thousands of other items the uses of which completely escape me.

Let’s talk about dental bills and braces, shall we? And schools class trips? And second cars? And dogs and all those expenses? And Xmas gifts? And tuition and fees?

Me: I am not sure that was what Grassley was referring to…

Shmuck: Well, anyone who has a wife and daughter (or husband and son for that mattter) knows what I am talking about. So Grassley is right. All I will do with any tax break is invest in goods and services right here in the US…wait…does that make me an investor?

Me: Sorry. Investors only invest in China. You worked . You supported your family. You drink beer. You are what we call…uh… shmuck.

https://www.washingtonpost.com/news/morning-mix/wp/2017/12/04/grassley-explains-why-people-dont-invest-booze-or-women-or-

https://financesonline.com/top-10-most-expensive-champagne-bottles-in-the-world/

https://www.forbes.com/sites/stuartanderson/2015/08/17/trump-the-hypocrite-investing-overseas-fine-for-him/#4d5a62aa1dc8

The Reagan Babies

When I was a tyke going to school in a medieval Catholic dungeon I learned about the Pagan Babies.

We would bring in our pennies on Friday and Sister Attila of the Holy Order of Terror would collect the coin. Our little coppers were going to be sent to some missionary in Africa to help convert the “pagan babies”. These little babies evidently had not gotten the word about the all-merciful god. Our job, as little Catholic babies, was to save them.

Whether the money actually went to Africa or to the Vatican I don’t know. Our second grade class did not hire a CPA to check the books. Maybe the load of coppers  went to fund  Sister Attila’s  “Bloody Mary” stash. Perhaps the pennies fed the local liquor economy. Either way, a good cause.

The thing about these Pagan Babies living in Africa was this.

They were ignorant. They were hapless and hopeless. They did not know the truth. They were condemned to a life of squalor and prejudice and stupidity. We pitied them. We felt sorry for them. They knew only what they had been taught. Narrow minded . Ignorant. In the dark. What would  happen when they reached adulthood? How would this ignorance manifest itself?

Which brings me to their American counterparts. The Reagan Babies.

The Reagan Babies were brought up in the 1980s. They were brought up on the mantra that “government is evil” and “greed is good”.  They were told that poor people are poor because they are lazy. And the rich are wealthy because they deserve to be wealthy. They were told that labor should be cheap. Black people are criminals. Most of all, that working people should not have rights.

They were brought up to worship a god that demands obedience and fear. An intolerant, political god who builds hells here on earth for the “fallen” called prisons. And builds “wealth” by buying out real businessmen who actually build real businesses. Then stripping them and selling off the parts. A god that tells us that society is bad. People should not care for each other. The god of the Old Testament.

These Reagan babies have now become politicians. Roughly in their forties . They have achieved power. They want to destroy Social Security. They want to destroy the Civil Rights Act. They want to destroy unions. They want to destroy the concept of a public education for all. Most of all, they want to destroy the very idea of a “social contract”. And they have had some degree of success. The Rubios. The Cruzes. The Ryans. The Brownbacks. The Scott Walkers. The “young studs” of the Republican Party. The Reagan Babies.

We donated out pennies to save the Pagan Babies from ignorance . The Reagan Babies cannot be saved. They have been been taught a narrow view of life. They have been taught to embrace authoritarianism of “supply side” economics and an intolerance for the non-believer. They have been taught that the very concept of “society” is bad. No one is his brother’s keeper. They have come of age and now we are reaping the rewards of Reaganism.

The irony, of course, is that the Reagan Babies are supported by many of the very people they hold in contempt. Working Americans. Older Americans. True believers who  keep sending their hard earned pennies  (and votes) to the Reagan Babies.

Even as 2nd graders we would not have fallen for that scam.

Toto, We’re Not in Kansas Any More

(In 2012 GOP Governor Brownback of Kansas pushed through the “Great Conservative Experiment”. Bringing the architect of the “supply-side” economics theory, Laffer, he proposed and got massive tax cuts for business and the wealthy, coupled with reduced public  support for the poor along with cuts to education. A conservative’s dream state. It was the experiment that would prove, once and for all, that “supply side ” policies were destined to be a great success…. They have been a massive fiscal disaster)

https://www.washingtonpost.com/politics/in-kansas-gov-brownbacks-reelection-race-is-case-study-in-republican-party-shift/2014/07/30/3192d86c-1420-11e4-8936-26932bcfd6ed_story.html

http://www.kansas.com/news/politics-government/article62557137.html

Aunt Em: I think she is finally waking up ! Dorothy, get up,  dear. Time to go to work.

Dorothy: Oh, Aunt Em. I had the strangest dream.

Aunt Em: Well, dear, time to get up and go to work in  the poultry plant. Those chicken wings don’t detach themselves.

Dorothy: Work? Chicken wings? Aunt Em, I don’t remember. I had the strangest dream that I visited a new land,  the land of Oz.

Aunt Em: Now, Dorothy.  You simply overslept. Now get your butt out of bed. We need the extra income.

Dorothy: But, Aunt Em. My dream. I dreamed I found myself surrounded by little men with little minds  and squeeky voices.  They were singing about “following the supply-side road” to wealth and fortune. But I kept going in circles. The road lead to nowhere.

Aunt Em: Oh,  that was no dream. That was the Knsas State Legislature, dear. Don’t you recall? They had to close all the roads except the ones leading directly to the chicken processing plant.

Dorothy: Then I dreamed I met a man who had straw in his head instead of a brain. He was silly and stupid. He flopped around and made no sense at all.

Aunt Em: Oh, Dorothy. That was the head of the Department of Education. Don’t you remember? The schools all had to close early because the state ran out of money for silly things like books and teachers. It is all part of the “great experiment”. It will be fine.

Dorothy: But Aunt Em, he didn’t even know what evolution was! And then I met a man who looked like a lion but was scared of everything. He cowered at the mention of the Wizard of Oz. Pathetic.

Aunt Em: You must mean the old Democratic Party. Oh dear, they certainly lost their courage.

Dorothy: Well, what about the man I met without a heart. It mean, he must have been part of a dream. A heartless man. No man can live without a heart, can he?

Aunt Em: Well, Governor Brownback came to town last week to proclaim “Cowboy Day” in honor of the ranchers who avoid paying federal grazing fees. There is no evidence that he has a heart.

Dorothy.: Then, in my dream,  we  walked all the way to the capital and saw this massive building. Covered with emeralds. And I went inside and saw the Wizard of Supply Side. He told me everything would be OK. Just keep working and don’t worry about the budget deficit. Don’t worry about school. Don’t worry about health care. It was final. He had spoken.

Aunt Em: Don’t you remember, Dorothy? We were going to take you on an ocean cruise across Kansas but the Lollipop Guild had taken away our lavish food stamp allowance. So, we went to see the Wizard for help. We DID go see the wonderful Wizard.

Dorothy: Well, what did the Wizard do?

Aunt Em: He told us to drop you out of 9th grade and get you a job. He told us that if you get sick you should “suck it up”. He said never ever use dirty words like”unions” or “climate change”. The great and powerful Koch had spoken.

Dorothy: Aunt Em, I am sick. My brain hurts. I need to see a doctor.

Aunt Em: Sorry, dear. We lost our health care when your uncle got fired for supporting abortion rights. You’ll just have to hope for the best. I am sure the Great Experiment will work itself out. Now, get on your bike and head for work. Those chicken parts are waiting to be sorted.

Dorothy: Look, Aunt Em !! A twister is coming right at us. A big one!

Aunt Em: Quick, Dorothy, into the storm cellar. … Dorothy! Where are you going?!

Dorothy hops on her bike with Toto in her basket and starts peddling frantically. Directly TOWARD the massive tornado.

Dorothy: Good bye , Aunt Em. I have my future to think about. Between living a decent life in Kansas and the twister, I like my chances with the tornado.

 

 

 

 

 

I’m Entitled…A Deal’s A Deal

Some states, New Jersey and Michigan come to mind, have decided that pensions for teachers and other public employees are too costly. So, they have cut back. Changed the rules. Old people have become too expensive. People retired, thinking they had a deal. Then the rules were changed. After the game was over.

First, a true story. A guy who delivers my firewood also takes down trees. I’ll call him Luke. I asked Luke to look at a massive cherry tree in my yard and he said he could take it down for 50 bucks. That was a good deal. A 30 minute job. Luke came back in his coveralls with his chain saw and well, it wasn’t as easy as we thought. The tree got caught up. He had to take down another maple next to it. Then he cut up the trunk into usable pieces for me. Took about 2 hours.

Now, it comes time to pay Luke. I give him the $50 and try to give him more. No. He won’t take it. I said, look, you took down two trees, cut them up, the job was much bigger than we thought. Take some more money. No. Luke would have none of it. His exact words. “A deal’s a deal”. End of discussion.

I taught in NY schools for over 30 years. Put money into the retirement system. Every check. My wages were so low that, as a professional teacher there were years when my family was eligible for welfare. WIC. A college degree, graduate school, a teaching certificate all lead to welfare subsidy. Which is okay. I knew what I wanted. Worked every summer to make ends meet. But I paid into the retirement system. Every check. Social security. Every check. Medicare. Every check. Just like public employees in Michigan and New Jersey and Wisconsin and Kansas and every other state in the union.

Am I ENTITLED to my retirement check? You bethcha. I paid in and took lower wages for a reason. A deal’s a deal.

I started working at 16. Paid Social Security. Paid Medicare. Paid federal taxes. Paid state taxes.
Now I am retired and I get free money from Uncle Sam. Social security every month. Now I am on Medicare. Am I one of Mitt Romney’s 47% ? ENTITLED? You betcha. I deserve it. A deal’s a deal.

I get more than a little irritated at the “young gun” GOP governors who are trying to balance their budgets by stripping pensions and retirement plans. Cutting taxes on the better off citizens and taking dollars out of the pockets of retirees. They have no clue. They have no understanding of what people in the past gave up to get those guaranteed pensions. They have no shame. They have no integrity.

They are deaf to the basic contract. They do not believe that “A deal’s a deal”.

Maybe I should order them some firewood. And have Luke deliver it. Maybe, just maybe, a little bit of Luke would rub off . But I doubt it.

Thank you Mr Yoder

Congress recently passed a giganormous spending bill. It was for over 1.1 trillion US dollars. That’s a lot of paper. In numbers it looks like this 1,100,000,000,000. That is more M and M’s than you can shake a stick at.
A lot of that loot goes to luxuries like food stamps, housing for the poor, homeland security, etc. But thanks to Congressman Yoder of Kansas, a fiscal conservative, some of that loot may be coming my way. Kansas, as you may or may not know, is now facing millions of dollars in debt as a result of the “Tax Cuts for Billionaires” program instituted by GOP governor Brownback. Have no fear, like Christie of New Jersey, Brownback intends to raid the public employees pension plans to make up the difference. It worked for Christie. Fiscal conservatism at its best.
But, back to Yoder.
Congressman Yoder was able to slip the Citibank bailout provision into the new budget. Written by Citibank and debated by …well…by no one. No time to debate. It was slipped in at the last minute. (Where are the howlers who were screaming at Obamacare because they only had 6 months to read it before the vote?) This provision allows Citibank (and others) to make those risky bets on certain derivatives and have those bets covered by the US taxpayer if they go bad. The same risky bets that helped lead to the financial meltdown and bailouts of..oh..many, many years ago. I can’t remember. Was it 1929 or something like that. Ancient history. Couldn’t happen again.
At any rate, I assume that because corporations are people that means people are corporations. Makes sense to me. Right?
So, as a corporate entity I plan to fly to Vegas. Las Vegas, Nevada.
I will take my life savings (too embarrassed to give you the amount) and place is all on number 43 . One spin of the roulette wheel. Win and I am a millionaire. (Well, maybe if I win 8 times in a row). All my money. One risky bet. What could be better? This….
And the best part is this. If I win, I get to keep my winnings. Hurrah!. If I lose I will claim I am a bank. I will claim I made a risky bet. The taxpayers will cover my losses. Then, guess what ? I can simply bet again.
So, thank you, Mr Yoder of the bankrupt state of Kansas. Thank you for looking out for the little guy.
Las Vegas, here I come.

I LOVE the IRS

It is April 16. Tax day has come and gone. I can finally admit it. I am a Revenuephiliac. I love the IRS.

I fear this admission will rain down anger upon my being. I will be hated more than Gandhi at an NRA meeting. Vilified more than Al Sharpton at a gathering of the White Aryan Nation. Be more harshly treated than Sarah Palin at a MENSA Convention.

But I confess. I love the IRS. Very Un-American, I know. But that’s the way I am. And here’s why.

The IRS is under attack. And has been for many years. The money budgeted for enforcement has been declining. Since 2002 the IRS budget has actually declined by 17%. Fewer agents means that the chances of getting audited are less than 1% for most folks, about 20% for millionaires and less than 1% for businesses. Some politicians, like Ted Cruz, have publicly stated they want to do away with the IRS completely. So, as a champion of the underdog, I take up the banner of our tax police. Seriously. They have a banner.

As the financial support for the IRS has waned on the one hand, fraud and corruption have skyrocketed on the other. Who could of guessed ? Fewer cops, fewer arrests. The Center For Tax Justice estimates that for every dollar spent on funding the IRS the US brings in $10 dollars in revenue that would otherwise be lost. WHAT ? A federal agency that makes money ? Others estimate that with long term modernization the actual investment return is closer to $200 for each dollar spent today.  There are BILLIONS of tax dollars going uncollected each year. Over $280,000,000,000 in overdue taxes will never be collected according to an IRS study from just a few years ago. And it is getting worse.

It has been a longstanding tradition to hate taxes. It is as American as racism or homophobia, to be sure. The nation was founded by tax dodgers. The Boston Tea Party was not a protest against free speech…it was a tax protest. And probably justified. Why pay taxes to those guys across the ocean? The Whiskey Rebellion? Same thing. Except this time it was why pay taxes at all. So, we have a solid history of being tax avoiders and tax cheats. All the more reason for the IRS.

After all, the IRS is nothing more than the domestic equivalent of our military or police force. And who can hate the troops? Or the police? They uphold the law, go after lawbreakers and make sure everyone plays by the same rules.  They support the democratic process and the rule of law.  They help collect the funds necessary to keep the nation moving ahead. They are the cop on the beat. The Marine standing guard over the flag.

Of course some taxes are pre-collected. The tax on the McDonald’s counter worker and the non-unionized VW assembly line worker. The cop. The teacher. The engineer. Anyone who works for a living. These shmucks can’t cheat on their taxes, and probably wouldn’t anyway.

Who could be against the IRS ? Tax cheats? Crooks? Organized crime? Money launderers for drug cartels?

Who benefits from a weak police force ? The honest citizen or the criminal?

So, join me in this IRS lovefest. Write your congressman. Ask for more money and better enforcement of our tax laws. What better investment is there? A $10-200 return for every dollar spent. In the end, if ALL taxes are collected, won’t you and I pay less? Won’t the honest citizen get a break?

Revenuephiliacs Unite! You have nothing to lose but your friends! And you might save a few bucks as well.

 

 

Good News…for a change

The GOP today decided to vote to extend the debt ceiling for another 13 months so the US government can pay it’s bills. Well, not exactly. In reality only 28 Republicans voted for the measure. Enough to insure its passage with Dem votes.  So, what may this mean?

First and most important, the US will not be defaulting on payments. Contracts already signed and goods already delivered. Contracts underway. Interest payments. This means that for the next year, at least, American business and the rest of the world knows that the US will make good on any debts.

Second and not as important, what does this mean for the GOP? Does this mean they are finally willing to give a little and actually work with Mr Obama? Or does it simply mean that they know this is an election year and they are fearful of once again being seen as the party of “No”? Doing nothing is not much of a platform to run on.

Third, what about Boehner? While he was able to convince most of his fellow Repubs that this issue was not worth fighting, does this mean he has reasserted control of the GOP? Could he have gotten 150 votes if he had wanted to? Is this a step in leading his party to a more sane, cooperative governing style?

Fourth, what about the Tea Party? This was a very public defeat for that small group of radicals. Is this the first step in slowly ridding their negative influence on the GOP? Or will they return with a vengeance and once again try to block any progress? Or are they biding their time, hoping for big victories in the fall so they can oust Boehner from leadership and even install Cruz as Senate majority leader?

Time will tell. But for now, cooler heads have prevailed. And while some may ciaim this is a “Democratic” or “Obama” victory, that is not the case. It is a victory for common sense, stability  and fiscal responsibility. Long overdue.