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Category: Fiscal Cliff

It’s a Gas

Update From the Front Lines of the Democrats’ War on Your Wallets

By Irwin M. Fletcher | The Save Jersey Blog

gas-pumpWe’ve got an update from the front lines of the war Democrats have been waging on America’s wallets, Save Jerseyans:

For 32 days in a row, gas prices have risen across America. 32 consecutive days where the same exact gas cost more that day than it did the day before. That is a record! President Obama keeps getting closer to his goal of $5.00 a gallon gas. Can you afford it?

And yesterday Obama announced that he wants to raise taxes AGAIN! On January 1, Obama said he was only raising taxes on millionaires, and EVERYONE IN AMERICA’S PAYCHECK GOT SMALLER! Makes you wonder what economic pain for working Americans he has planned this time around?

And all the while, we continue hearing reports that Obamacare is running out of money before it even gets started? I know I have, and it’s brought smiles to a lot of people’s faces, ’cause they think that means Obamacare is dead. Well, I got some bad news for you, Save Jerseyans. Obama has a choice to either kill Obamacare because it has no money or raise taxes to get Obamacare money. What do you think he is gonna choose?

And here in New Jersey, Senator Frank Lautenberg has announced he is retiring at the end of his current term, but between now and then he’s promised to fully back Obama’s spending policies 100%!

Sorry for the grim report, but now I’ve gotta hurry back to the front lines, folks. Till next time!

Irony: Sandy Bill Eats Tax Hike

REPORT: Revenue From Obama’s Tax Hike On Wealthy Taxpayers Consumed by Sandy Aid Package

By Matt Rooney | The Save Jersey Blog

Capitol Building StaticRemember when I told you that the fiscal cliff “compromise” was really a detour because President Obama’s tax hikes wouldn’t raise enough revenue? And explained why the federal Sandy aid package was a bloated disgrace?

I hate to say “I told you so,” but I will anyway…

This one speaks for itself, Save Jerseyans (h/t Washington Times):

The tax deal that Congress and Mr. Obama reached in early January cut taxes overall but let them rise on individuals making more than $250,000 a year and families with income of more than $300,000. Those increases brought the government somewhere on the order of about $40 billion for fiscal year 2013.

The spending bill for storm recovery costs $50 billion and, coupled with an additional $9.7 billion in flood insurance money Congress passed this month, brings the total tab for Sandy to $60 billion.”

Oops!

Let this be a lesson to the sheeple of New Jersey and New York who’ve abandoned federalism and carry 15-20% of the total federal tax burden… ignorance is only bliss until the invoice arrives!

What Happened to My Paycheck?

By Matt Rooney | The Save Jersey Blog

CoinsMany of you worked hard today, picked up your paycheck from human resources and noticed something disconcerting…

Why am I missed $30? $40? $50 of my usual total net pay?

The answer: November 6, 2012.

The technical explanation? Last week’s fiscal cliff deal did not include an extension of the federal payroll tax holiday, allowing the payroll tax rate to rise 4.2% to 6.2%. That means an employee earning $50,000 annually will now fork over approximately $1,000 more per year to Uncle Sam. Go ahead, liberals: try to tell me that WON’T carry negative repercussions for the economy next Christmas…

CONTINUE READING….

2013: Democrat War on Your Wallet

By Irwin M. Fletcher | The Save Jersey Blog

Trench WarfareI hope you enjoyed your New’s Year Party last week, Save Jerseyans. ‘Cause it’s not party time anymore. It’s war time.

That’s because as soon as ball dropped in Times Square, Democrats declared war on your wallet!

Don’t believe me? Well, let’s take a look.

Start on the national level.

First, you’ve got Obamacare…

CONTINUE READING….

Did O Neuter House GOP?

By Matt Rooney | The Save Jersey Blog

Bloomberg Businessweek ran an interesting piece Wednesday, arguing that Republicans should happily embrace Tuesday’s fiscal cliff deal since “[i]t locks in virtually all the Bush-era income tax cuts, establishes a generous-to-the-wealthy inheritance tax, and maintains low capital gains and dividend taxes,” in addition to generating much less revenue for Washington’s spending addiction than the President previously wanted.

Assuming, of course, that that’s what President Obama really wanted.

I’m not so sure, Save Jerseyans, nor is my favorite conservative pundit Charles Krauthammer, who told Bill O’Reilly last night on FOX that he recognizes a totally different (and completely political) method to the White House’s fiscal madness:

Here’s the key part of Krauthammer’s commentary if you can’t play the video…

CONTINUE READING….

Sandy Bill Hypocrisy

Hurricane Sandy Survey

WHAT AID? WASHINGTON’S FISCAL CLIFF DEAL WILL DISPROPORTIONATELY BURDEN NEW JERSEY TAXPAYERS

By Matt Rooney | The Save Jersey Blog

You can count on New Jersey Democrats and some key Garden State Republicans, too, to pitch a fit in the coming days over Speaker Boehner’s decision to delay a Sandy relief package vote until the new session of Congress begins later this month.

Whatever, Save Jerseyans. I stand by my original position, that considering New Jersey and New York taxpayers’ hugely disproportionate share of the federal tax load, a targeted tax holiday would be superiorly beneficial as residents and business continue the clean up process to a pure aid-to-government only package.

If you don’t believe me, yesterday’s fiscal cliff detour vote might help put things in perspective…

CONTINUE READING….

House Okays Fiscal Cliff Bill

Capitol Building at night

By Matt Rooney | The Save Jersey Blog

The fiscal cliff bill is headed to President Obama after receiving late Tuesday evening approval from the House of Representatives. At roll call, 85 Republicans and 172 Democrats voted YEA; 151 Republicans and 16 Democrats voted NO.

Eric Cantor appeared to lead the opposition from the Right (which represented a majority of House Republicans); Paul Ryan was among those voting YEA, as was New Jersey’s Jon Runyan (NJ-03) who shared the following explanation with his Facebook fans:

Given the choices on the table, I ultimately decided to support the compromise to spare my constituents and 99% of American taxpayers an income tax hike that neither they nor our economy can afford. Unfortunately, this legislation is merely another Washington-generated band-aid that does little more than kick the can down the road again, while failing to address the federal government’s unhealthy addiction to spending. I am hopeful the President and members of both the House and Senate can do more problem-solving and less finger-pointing in the next Congress and address the very serious fiscal problems we face.”

Runyan was joined by Chris Smith, Rodney Frelinghuysen, Frank LoBiondo and Leonard Lance. Only Scott Garrett voted NO out of the entire state delegation. 

What does tonight’s vote mean? Tax rates won’t go up (for now) on most medium and low income earners, but in real terms, 77% of U.S. households (115-120 million) will still pay more taxes for 2013 as a direct result. That’s a big price to pay for a bill that’s merely a detour to the fiscal cliff, Save Jerseyans. But you already knew that…

Click here to see how your House member voted.

You can read a full text of the fiscal cliff bill (H.R. 8) right here (h/t Politico).

 

Emancipation Turns 150

By Matt Rooney | The Save Jersey Blog

Emancipation Proclamation SignedIt’s an auspicious day to celebrate the Emancipation Proclamation’s 150th Anniversary, Save Jerseyans.

The late great Civil War historian Shelby Foote liked to argue that “the genius of American politics is compromise,” and that the Civil War came about through the nation’s failure to do what it had previously done best.

After reviewing the details of this morning’s utterly pathetic fiscal cliff deal detour, I can’t help but wonder if we’ve once again reached such a pass?

There’s also the question of whether the current generation of leadership has done anything to advance the American vision of liberty conceived by the Declaration of Independence, mapped-out by the Constitution and developed over two centuries through blood, innovation, but mostly well-chosen applications of ink and sentiment.

Revisit a transcript of this great document below the fold… and say a prayer for your country:

CONTINUE READING….

Fiscal Cliff Detour

By Matt Rooney | The Save Jersey Blog

It’s a “deal” in the strictest sense of the word, Save Jerseyans, because there appears to be enough votes to get it through the House a little later today after the Senate adopted a fiscal cliff compromise package early New Year’s morning.

There’s certainly enough crap in there (like huge tax hikes and wind farm “incentives”) and a few good things (like a short-term tax reprieve for most middle class households and a repeal of ObamaCare’s unfunded CLASS program).

But when the fiscal cliff deal is passed without any attempt at entitlement reform, cuts just $1 from the federal budget for every $41 in new taxes levied, and delays the sequester question for two months…. is it really a deal to avoid a cliff? Implying that a “solution” has been reached? Or is it more properly labeled a detour? Same end result, only pushed a little further down the road?

You know where I stand.

New year, same as the old year… 

How Steep is Your Fiscal Cliff?

By Matt Rooney | The Save Jersey Blog

Coyote CliffA brand new year is days away, Save Jerseyans, and thanks to our reckless President’s record spending and a pack of unherdable cats in the House, the fiscal cliff is now inevitable.

We’ve spent a lot of time over the past several months discussing what this means for the average New Jersey tax filer: approximately $4,216 per return.

What does that mean for YOU? 

A Save Jersey reader sent us this cool “fiscal cliff” tax calculator; users can enter their filing status, allowances and income to guesstimate how much their federal income tax burden will increase beginning in 2013. Of course it’s not exact, folks, and only a tax expert could assess your true liability. Still scary!

So click here to give it a try… but first, you may want to keep some tissues handy. Again, it’s not pretty.

 

Santa Rally? Not Really!

Michelle Obama at ChristmasYesterday morning, Save Jerseyans, I awoke to dismal online deals and discounts at my favorite online retailer websites.  Primarily, I was hoping to find a deal on the Chloe handbag I’ve been coveting (not a justifiable full-priced purchase for a fiscally conservative blogger). 

Unfortunately, neither Neiman Marcus nor Saks fulfilled my day-after-Christmas wish. 

Stocks typically rise from Christmas Eve into the new year (the aforementioned “Santa rally”).  But bah humbug to that this year!

Considering the fact that holiday sales numbers fell short of expectations, perhaps upscale retailers may have been able to improve upon their year-end performance by satisfying the desires of accessory junkies such as myself… 

CONTINUE READING….

Penny Wise and Pound Foolish: the Argument Against Closing All “Loopholes”

By Dale Glading | The Save Jersey Blog

obama_tax_hikesThere are a number of ideas being bandied about Capitol Hill these days for finding new ways to confiscate taxpayers’ money in order to feed our grossly overweight federal government. Some are bad and some are worse than bad.

In fact, they flat out stink.

Let’s be clear from the beginning: the federal government doesn’t have a revenue problem; it has a spending one.

Washington reminds me of someone trying to lose weight without reducing their caloric intake. It’s virtually impossible.

Yes, when it comes to consuming tax dollars, our federal government is morbidly obese and has no intention of changing its eating habits.

And so, it appears that the career politicians in Congress – aided and abetted by President Obama – are dead set on increasing the amount of money that flows into the federal coffers. As Mr. Obama has repeated ad nauseam, “Elections have consequences”, and the #1 consequence of the recent presidential election will be higher taxes for nearly everyone.

The only question that remains is if these across the board tax hikes will stand alone or be joined by the closing of certain tax loopholes. My best guess is that Congress will settle on a combination of the two.

But as damaging as tax hikes will be to a struggling economy, closing some of the aforementioned loopholes would be even more problematic.

CONTINUE READING….

CLIFF COMETH: Boehner Will Post Plan B for Vote Tomorrow

Any fiscal conservative worried about John Boehner’s “cave” isn’t going to have much to worry about by this time tomorrow, Save Jerseyans.

Apparently talks between the White House and House Republicans have broken down, and Speaker Boehner is telling folks he’ll go with his plan and only his plan.

The Speaker will post “Plan B” for a vote tomorrow, legislation which would allow taxes to rise on only those earning more than $1M (not those grossing $250k+ as the President demands).

The Club for Growth is opposed to Plan B. ATR’s Grover Norquist is reportedly OK with it. Obama would veto it but Plan B won’t clear the Senate… assuming it passes the GOP House which is a topic of much discussion right now…

Fiscal cliff cometh…

 

Sympathy for the Boehner

Speaker John Boehner is getting a lot of heat from his Right at the moment, Save Jerseyans.

And I’m going to catch some hell from many of you for saying what I’m about to say:

I feel bad for Boehner. I really, truly do.

Imagine for a moment that you’re a good family man, businessman, and pillar of the local community from a humble background. You eventually decide to run for Congress in a primary against an incumbent accused of gross moral failings (allegedly paying a teenage prostitute) and, having won that primary, rise through the ranks of the House through skill and strength of character. Your efforts eventually help catalyze a “Republican Revolution” in 2010 and, even when your party blows the presidential race AND several winnable senate contests in 2012, your House majority remains largely undisturbed.

Most folks would call that a job well done.

Like it or not, Speaker Boehner is fighting a battle that we lost when polls closed on November 6th.

So why is John Boehner being treated like a failure?

CONTINUE READING….

Come January 1st, We’re ALL Going to Be Scrooged

I know that we have had a tough run as of late, Save Jerseyans. 

And I know that we are also struggling to find our political center as a party. 

But it never ceases to amaze me how the Democrats will continue to beat a dead horse until such time that it may actually resurrect.  The Republicans know there are fundamental changes that need to be embraced in order to advance our agenda in future elections.  There may be some party members who are burying their heads in the sand, but I think the majority of us know that we need to revisit the cornerstones of our government and channel our inner party chi. 

I am sure there will be dissenters, but so be it.

Yesterday, as I tried to focus on keeping my holiday perspective, I came across a quote in The Star Ledger that particularly irked me.  From the perspective of one of their columnists, “Republicans finally seem to grasp that no party whose principal policy position is unquestioning support for the rich has much chance of winning a national election.”

WHAAAAT???

CONTINUE READING….

Obama’s Tax Hikes Won’t Balance the Budget (VIDEO)

President Obama’s fiscal cliff “compromise” is a non-starter, Save Jerseyans.

A cheap political trick; even assuming a set a facts most favorable to the POTUS, his plan raises only a slim percentage of the revenues over the next decade required to avert a total fiscal disaster. Coupled with a complete failure to address entitlement reform, the President’s approach merely pushes the fiscal cliff a little further down the road.

In short… it’s not a serious option for anyone serious about saving this county.

What I wish Republicans would do now?

Not just point out how the President’s plan is insufficient, but also explain why his tax hikes are likely to decrease federal revenue over the long haul if history is any guide.

A brilliantly brief discussion (h/t Professor Davies of LearnLiberty.org):

It’s Time to Slaughter a Few Sacred Cows

OK, sports fans. The clock is winding down and there are just days left before America is poised to fall calamitously over the so-called fiscal cliff.

So what is an almost evenly-divided and clinically dysfunctional Congress supposed to do in order to avoid such a pending economic disaster?

Well, the first thing you do is round up a few sacred cows and start slaughtering them one at a time. Actually, two at a time – one of the Democrats’ cows and one that belongs to the Republicans.

Simultaneously.

CONTINUE READING….