Good news!

Big Gubmint

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The ratio of federal spending-to-GDP has risen by 14 percent since 2008—and the transition from 2008 to 2009 saw the greatest annual increase in spending in the last 30 years.

The proposed 2011 Budget would increase funding at the Department of Education by $2.9 billion or 6.2 percent, make the largest proposed request for Elementary and Secondary Education Act, and provide more money for Pell grants and Race to the Top.

The new Budget establishes a $4 billion dollar National Infrastructure Innovation & Finance Fund to focus on infrastructure investments of national and regional significance.

The 2011 Budget includes more than $6 billion in funding for clean energy technologies.

The Budget invests $61.6 billion for civilian research and development – an increase of $3.7 billion, or 6.4 percent, over 2010 levels.


"A democratic government is the only one in which those who vote for a tax can escape the obligation to pay it."

Alexis de Tocqueville
 
Big Gubmint needs more money, so the new Budget contains lots of good news. Not for you. For Big Gubmint.

The new Budget would establish higher taxes on businesses, including the recently-proposed "bank tax" that is supposed to recapture the money lent to big banks as part of the TARP program--even though most of the banks hit by the tax have already paid back the funds they received.

The Budget would also repeal the "last in, first out" method of inventory accounting that allows businesses to deduct their more costly inventory from income first. This would increase taxes for many businesses, which will be good for Big Gubmint.

The most lucrative tax increase on businesses, however, would be higher levies on businesses operating internationally.

The Budget would restrict their present ability to deduct interest expenses associated with foreign income until the business recognizes it in the U.S.

The Budget would also make it more difficult for businesses operating internationally to claim a credit for taxes paid in foreign countries, increasing the likelihood of double taxation.

Big Gubmint likes double taxation. A lot.

The U.S. is the only country in the world that taxes the overseas income of its businesses, a wonderful fact which Big Gubmint enjoys thinking about while spending your money.

Other countries foolishly tax only income earned within their borders.

The current U.S. tax code, for some reason, allows businesses with foreign income to pay tax only when they bring the income back to the U.S.

This tax credit unfortunately prevents them from paying tax on income already taxed by other countries.

This is not good for Big Gubmint and should stop!

Changing these provisions will substantially increase taxes on U.S. businesses that operate overseas and will swell the coffers of Big Gubmint.

The U.S. already has the second highest corporate income tax in the world, trailing only Japan. This hurts our national pride. Shouldn't America be number one?

The 2011 Budget would allow the 2001 and 2003 tax cuts to expire for families making over $250,000 a year and raise their top two marginal tax rates from 33 and 35 percent to 36 and 39.6 percent, respectively.

The Budget would also limit the amount these unfairly-rich families could deduct from their gigantic income and reduce their personal exemptions.

At last, we are making real progress toward making sure these rich folks pay their fair share to Big Gubmint!

President Obama also proposes raising the tax rates on dividends and capital gains from 15 percent to 20 percent for the rich - taxpayers with incomes over $250,000 a year.

President Obama would also squeeze more out of wily taxpayers who legally move income offshore to escape capital taxes in the U.S.

The estate tax, better known as the "death tax," expired on January 1.

This was the result of a decade-long policy that reduced the tax and finally repealed it for 2010.

But all is not lost! The estate tax comes back to life in 2011.

The Obama Budget increases it by assuming in its baseline that Congress will vote to continue the death tax at 2009 levels (45 percent rate and $3.5 million exemption) starting in 2011 and beyond. If Congress continues the tax, it would be a tax increase which Big Gubmint is looking forward to.

The Budget would also increase taxes on family farms and businesses. When the death tax was active, family farms and businesses could discount their asset values to offset the fact that it is difficult to sell assets in order to pay the death tax.

The Obama Administration would remove this glaring defect and force families to pay the death tax on the full value of their assets, even though there would be no new cash generated to pay the tax.

There's even more good news!

The Budget increases taxes on oil, gas, and coal companies by repealing several tax credits available to these businesses, which are making huge profits by contributing to Global Warming.

Big Gubmint likes Global Warming.

These greedy, planet-killing energy companies would undoubtedly pass these tax increases on to you customers in the form of higher prices, which means higher taxes on energy for Big Gubmint to enjoy.

Did I say that Big Gubmint likes Global Warming? I meant to say that Big Gubmint loves Global Warming!

The Budget creates an allowance for revenue raised due to 'health care reform'. Since a final bill is not complete, it is not possible to know what specific taxes would be created as part of Big Gubmint health care when it passes Congress. But Big Gubmint is optimistic.

The taxes included in the separate House and Senate bills--and a variety of other taxes proposed but not included in either bill--are the best guide available to which taxes Big Gubmint can look forward to.

The Budget includes several other tax increases, including taxing carried interest as regular income, closing the tax gap through stricter enforcement, more taxes on businesses, and making the unemployment insurance surtax permanent.

This long list of tax increases shows that the Administration is genuinely interested in Big Gubmint's revenue needs and is exploring every avenue to find new ways to squeeze money out of individual taxpayers and businesses.
 
President Obama just submitted a $3.8 trillion budget proposal, the largest federal budget ever.

To put this in perspective: Obama is proposing a budget $700 billion larger than big spender Pres. George W. Bush's last budget.

It's TWICE the size of Pres. Bill Clinton's last budget of $1.9 trillion.
 
WAAAAAAAA

They have to pay for the upkeep on the country that makes their lives better.

If they dont like it then they can move to mexico and some other American will take over the gap in the industry.'

You seem to think that the people who run these companies are irreplaceable.

I think they are not and you would see many more small businesses to replace the Big guys who deside to bail on our country because the are not given a free ride on the backs of average Americans.
 
WAAAAAAAA

They have to pay for the upkeep on the country that makes their lives better.

If they dont like it then they can move to mexico and some other American will take over the gap in the industry.'

You seem to think that the people who run these companies are irreplaceable.

I think they are not and you would see many more small businesses to replace the Big guys who deside to bail on our country because the are not given a free ride on the backs of average Americans.

Big Gubmint only knows that growth is good. Growth of Big Gubmint, that is.

Big Gubmint will leave the details -- like paying for it all -- up to you, the American public.

After all, we're your Big Gubmint!

The federal government made at least $72 billion in improper payments in 2008.
Washington spends $92 billion on corporate welfare (excluding TARP) versus $71 billion on homeland security.

Washington spends $25 billion annually maintaining unused or vacant federal properties.

Government auditors spent the past five years examining all federal programs and found that 22 percent of them--costing taxpayers a total of $123 billion annually--fail to show any positive impact on the populations they serve.

The Congressional Budget Office published a "Budget Options" series identifying more than $100 billion in potential spending cuts.

Examples from multiple Government Accountability Office (GAO) reports of wasteful duplication include 342 economic development programs; 130 programs serving the disabled; 130 programs serving at-risk youth; 90 early childhood development programs; 75 programs funding international education, cultural, and training exchange activities; and 72 safe water programs.

Washington will spend $2.6 million training prostitutes to drink more responsibly on the job.

A GAO audit classified nearly half of all purchases on government credit cards as improper, fraudulent, or embezzled. Examples of taxpayer-funded purchases include gambling, mortgage payments, liquor, lingerie, iPods, Xboxes, jewelry, Internet dating services, and Hawaiian vacations. In one extraordinary example, the Postal Service spent $13,500 on one dinner at a Ruth's Chris Steakhouse, including "over 200 appetizers and over $3,000 of alcohol, including more than 40 bottles of wine costing more than $50 each and brand-name liquor such as Courvoisier, Belvedere and Johnny Walker Gold." The 81 guests consumed an average of $167 worth of food and drink apiece.

Federal agencies are delinquent on nearly 20 percent of employee travel charge cards, costing taxpayers hundreds of millions of dollars annually.

The Securities and Exchange Commission spent $3.9 million rearranging desks and offices at its Washington, D.C., headquarters.

The Pentagon recently spent $998,798 shipping two 19-cent washers from South Carolina to Texas and $293,451 sending an 89-cent washer from South Carolina to Florida.

Over half of all farm subsidies go to commercial farms, which report average household incomes of $200,000.

Health care fraud is estimated to cost taxpayers more than $60 billion annually.

A GAO audit found that 95 Pentagon weapons systems suffered from a combined $295 billion in cost overruns.

The refusal of many federal employees to fly coach costs taxpayers $146 million annually in flight upgrades.

Washington will spend $126 million in 2009 to enhance the Kennedy family legacy in Massachusetts. Additionally, Senator John Kerry (D-MA) diverted $20 million from the 2010 defense budget to subsidize a new Edward M. Kennedy Institute.

Federal investigators have launched more than 20 criminal fraud investigations related to the TARP financial bailout.

Despite trillion-dollar deficits, last year's 10,160 earmarks included $200,000 for a tattoo removal program in Mission Hills, California; $190,000 for the Buffalo Bill Historical Center in Cody, Wyoming; and $75,000 for the Totally Teen Zone in Albany, Georgia.

The federal government owns more than 50,000 vacant homes.

The Federal Communications Commission spent $350,000 to sponsor NASCAR driver David Gilliland.

Members of Congress have spent hundreds of thousands of taxpayer dollars supplying their offices with popcorn machines, plasma televisions, DVD equipment, ionic air fresheners, camcorders, and signature machines--plus $24,730 leasing a Lexus, $1,434 on a digital camera, and $84,000 on personalized calendars.

More than $13 billion in Iraq aid has been classified as wasted or stolen. Another $7.8 billion cannot be accounted for.

Fraud related to Hurricane Katrina spending is estimated to top $2 billion. In addition, debit cards provided to hurricane victims were used to pay for Caribbean vacations, NFL tickets, Dom Perignon champagne, "Girls Gone Wild" videos, and at least one sex change operation.

Auditors discovered that 900,000 of the 2.5 million recipients of emergency Katrina assistance provided false names, addresses, or Social Security numbers or submitted multiple applications.

Congress recently gave Alaska Airlines $500,000 to paint a Chinook salmon on a Boeing 737.

The Transportation Department will subsidize up to $2,000 per flight for direct flights between Washington, D.C., and the small hometown of Congressman Hal Rogers (R-KY)--but only on Monday mornings and Friday evenings, when lawmakers, staff, and lobbyists usually fly. Rogers is a member of the Appropriations Committee, which writes the Transportation Department's budget.

Washington has spent $3 billion re-sanding beaches--even as this new sand washes back into the ocean.

A Department of Agriculture report concedes that much of the $2.5 billion in "stimulus" funding for broadband Internet will be wasted.

The Defense Department wasted $100 million on unused flight tickets and never bothered to collect refunds even though the tickets were refundable.

Washington spends $60,000 per hour shooting Air Force One photo-ops in front of national landmarks.

Over one recent 18-month period, Air Force and Navy personnel used government-funded credit cards to charge at least $102,400 on admission to entertainment events, $48,250 on gambling, $69,300 on cruises, and $73,950 on exotic dance clubs and prostitutes.

Members of Congress are set to pay themselves $90 million to increase their franked mailings for the 2010 election year.

Congress has ignored efficiency recommendations from the Department of Health and Human Services that would save $9 billion annually.

Taxpayers are funding paintings of high-ranking government officials at a cost of up to $50,000 apiece.

The state of Washington sent $1 food stamp checks to 250,000 households in order to raise state caseload figures and trigger $43 million in additional federal funds.

Suburban families are receiving large farm subsidies for the grass in their backyards--subsidies that many of these families never requested and do not want.

Congress appropriated $20 million for "commemoration of success" celebrations related to Iraq and Afghanistan.

Homeland Security employee purchases include 63-inch plasma TVs, iPods, and $230 for a beer brewing kit.

Two drafting errors in the 2005 Deficit Reduction Act resulted in a $2 billion taxpayer cost.

North Ridgeville, Ohio, received $800,000 in "stimulus" funds for a project that its mayor described as "a long way from the top priority."

The National Institutes of Health spends $1.3 million per month to rent a lab that it cannot use.

Congress recently spent $2.4 billion on 10 new jets that the Pentagon insists it does not need and will not use.

Lawmakers diverted $13 million from Hurricane Katrina relief spending to build a museum celebrating the Army Corps of Engineers--the agency partially responsible for the failed levees that flooded New Orleans.

Medicare officials recently mailed $50 million in erroneous refunds to 230,000 Medicare recipients.

Audits showed $34 billion worth of Department of Homeland Security contracts contained significant waste, fraud, and abuse.

Washington recently spent $1.8 million to help build a private golf course in Atlanta, Georgia.

The Advanced Technology Program spends $150 million annually subsidizing private businesses; 40 percent of this funding goes to Fortune 500 companies.

Congressional investigators were able to receive $55,000 in federal student loan funding for a fictional college they created to test the Department of Education.

The Conservation Reserve program pays farmers $2 billion annually not to farm their land.

The Commerce Department has lost 1,137 computers since 2001, many containing Americans' personal data.

Ain't Big Gubmint great?
 
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