Introducing the 'Warren Buffett Get Richie' tax form

Additional Reading

Warren Buffett: The Great P.R. Machine... (InvestorzBlog) 

Tax lover Warren Buffett can pay more taxes voluntarily (The US Report)

Small Business Jobs and Credit Act a legislative boondoggle (We told you so: The US Report)

Will Basel III lead to another financial meltdown and future taxpayer bailouts?

Will Potter, a second year economics student at the University of South Carolina, has written an account of Basel III for the university newspaper The Gamecock. Bankers recently met in Basel, Switzerland. The weekend meeting updated agreements on bank reserve requirements—how much a bank must have on hand in case customers show up en masse demanding their money. That sounds like a good idea considering the fiasco we call the financial meltdown.

Did those bankers learn anything? Apparently not, other than the fact they can do what they want because they have a limitless government-backed cushion.

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Democrat move to take food stamps for Edujobs bailout hits home in Florida

Democrats, courtesy of Speaker Nancy Pelosi’s (Calif.) latest call to come home and spend more taxpayer dough, dispensed billions of crisp new federal dollars to bail out the corporate education industry. Fox News explains how President Barack Obama’s administration described the latest bailout bill’s purpose. It's for “school districts to rehire laid-off teachers or ensure that more teachers won't be let go before the new school year begins…”

Florida might get some of those funds because our governor is passionately schmoozing Democrats. The Florida Times-Union said a Clinton strategist is holding a fundraiser in Washington for our governor's alleged indie run for the US Senate, so the schmoozing seems to be paying off.

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SEIU defends political assault on privacy but clueless on door opened

Update, May 24: We welcome certain organized labor groups visiting our modest website, and hope you benefited from reading this column.

Original Post:

By Kay B. Day

It might be comical if the actual act hadn’t been so nefarious. After members of the Service Employees International Union showed up at a Bank of America lobbyist’s home, the union website posted a defense of their members’ actions. But the flawed defense rested largely on a character assassination of a columnist who happened to live in the neighborhood. Nina Easton, Washington editor of Fortune, actually had the nerve to ask the so-called ‘protesters’ to leave.

I’d like to point out Easton was apparently the only person in the neighborhood brave enough to confront a mass of people  escorted by police. The presence of law enforcement combined with all those yelping union members who apparently had nothing better to do certainly must have terrified the teenage boy who happened to be home.

Big media missed at least one question that should have been asked.

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Tea party poll shows great divide between ‘Political Class’ and ‘Mainstream’

A new Rasmussen poll said 51 percent of Americans have a favorable view of the tea parties held nationwide last week, including 32% who say their view of the events is very favorable. The poll said 33 percent view the tea parties unfavorably and 15 percent weren’t sure. But when respondents were categorized by class, the figures were more startling. Rasmussen said, “While half the nation has a favorable opinion of last Wednesday’s events, the nation’s Political Class has a much dimmer view—just 13% of the political elite offered even a somewhat favorable assessment while 81% said the opposite. Among the Political Class, not a single survey respondent said they had a very favorable opinion of the events while 60% shared a very unfavorable assessment.” There is in fact a wide gap between the Political Class and Mainstream on a number of issues.
 
Rasmussen says Mainstream and Political Class respondents are established for polling purposes by answering a set of questions—who the respondent trusts more (the people or political leaders), whether the federal government is a special interest group, and whether government and big business work together in ways that hurt consumers and investors. A score is assigned for each answer. The Political Class falls in a range of scores of -2 or less while Mainstream respondents are defined by agreeing with mainstream view on at least 2 of 3 questions and not agreeing with the political class on any questions.

Some leftwing extremist celebs, presumably Political Class types, called tea party goers “racist” and a few like one comedian on MSNBC had a field day making adolescent jokes about the term ‘teabagging.’

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Economist says GAO warned about financial derivatives in 1994; must face music now

Economist Martin Weiss says government is trying to "short circuit" a depression. [Photo from Money and Markets website.]Economist Martin Weiss appeared on C-Span Mar. 18, and his advice to US citizens was blunt. When you have a global collapse, there’s always a day of reckoning. “Better to face the music now,” he said.

Weiss echoed the opinion of many of us when he implied the bailouts were a bad idea. Only Weiss held that opinion before bailouts became a daily household word. In September, 2008, the Florida based expert submitted a white paper to the Senate Banking Committee and to the House Financial Services Committee. The title: “Proposed $700 Billion Bailout Is Too Little, Too Late to End the Debt Crisis; Too Much, Too Soon for the U.S. Bond Market.” But alarm bells sounded long before that--by the government no less.

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