341. Newt's Tax Plan gets dinged by Liberal AP

The "Study: Gingrich tax plan will worsen deficit" article, again by the LIBERAL AP, is no more that a put down without any details. Once again they target Republican hopefuls when they should be reporting how much OBlunder's tax plans for the last 3 years KILLED the economy and We the People's net worth.

Net: Newt is proposing that tax payers, obviously above 15% tax bracket, can CHOOSE either a simple 15% flat tax or stay the course and fill out all the forms where they will deduct things or not report tax on income deemed non-taxable. If I had access to national databases that would report what the average RICH person's EFFECTIVE tax rate was, I could compare the effects of them reporting 15% versus the average. But, even then, consider these:

• I would bet the RICH folk have millions of income in NON-taxable investments
• I would bet RICH people can find ways already to report LESS THAN 15% EFFECTIVE tax rate despite their 38% tax bracket
• I would assume under Newt's plan ALL income, including some of the skeptical income currently deemed tax exempt would be counted to determine the 15%, plus all write offs will be void if you use the 15% method
• Given all the above, I would venture to say that FEW will accept the 15% because it would actually result in MORE taxes. They would rather pay a few thousand to a tax attorney to DO their taxes and pay LESS than to simply send Uncle Sam a 15% tax check.

Don't take my word for it (above conclusion), but then definitely DON'T TAKE AP's WORD either! PROVE IT AP! Show me FACTS! Or, SHUT UP! As Sam would indicate, just Common Scents (and AP Doesn't smell good).

340. The Windows 98 Albatross

What do you do with an old PC with obsolete boards and Windows 98? I found an enlightening project: build a more secure game machine for a challenged individual who needed to be prevented from going to the Internet and inadvertently/intentionally hitting keys that would change/damage the system. Here are a few neat things I did:

• Stripped the system software down to just bare bone W98; no communications & Internet
• Removed "Network Neighborhood" and "Recycle Bin" from the Desktop
• Created an Invisible ICON to replace "My Computer" and hid it somewhere on the Desktop where it can be clicked if you know where it is
• Disabled "Start", both left and right click
• Disabled use of Right Click everywhere.
• Installed a bunch of games, a calculator, and Wordpad
• The Desktop contains ONLY ICONS allowed to the individual
• All removal/disable of function can be restored via Reg Restores

I hope this Christmas present from "Santa" proves to delight the individual who will now have his own personal PC.

339. A Lot to Digest re EU Summit

"Europe pushes ahead fiscal union, UK isolated" tries to make sense of the EU summit results from attending 9 major countries. My mind can no longer bind the various threads spun in this article. What is the resolve? Or is the only output from it more spin to hid the dismal situation in the short run? You decide. I think the points below might capture what I learned:

A Summary on EU Summit:

- 27 Countries involved in Euro Treaty will be affected by plans (10 at the Summit)

- Britain did not agree with the other 9 re new treaty that will subject them also to new rules within 3 months

- 26 total countries backed it

- Smaller countries are at the mercy of the 85% who do support it and they don't like that

- Goal was to defend the Euro as single currency while defining actions to stabilize current financial crises

- They didn't support Germany's proposal to keep rescue funds in individual country reserves

- Instead, The EU and ECBs will be the managers of global rescue funds

- Banks will continue to buy bonds in an orderly and regularly (Euro $20B per week) instead of a massive buy

- Funds will be available for 3 years providing liquidity as needed

- Individual budgets are to be scrutinized by a central EU group

- Budget overrun actions are to be effective more automatically

- Intergovernmental commitment of 17 countries will agree to a new treaty open to others

Don't take my word on the points above. As I said, it's difficult to comprehend it all. However, I feel they agreed to continue to maintain their status quo -- present goals and actions -- but with more desires to automate budget violations. The ball (snow?) continues to roll. They did establish that Britain isn't happy with the other 9 and that some of the smaller countries will have to roll with the punch (other 85% who only need to agree to get something passed). I like the up front plan to make bonds available regularly rather than our "hidden and secret" Federal Reserve surprises that disturb the markets all at once. I'll be reading more about progress in the future. Our markets will be affected by anything Europe does. We and Asia depends on them to buy our products.

Oh, don't forget that the IMF also has emergency funds that countries like Europe and Spain might tap, outside the EU's domain. What a mess. To read more re IMF, see this article.

338. DJIA at 12196 .. keep an eye out

Resistance was already hit about 15 minutes before today's close on the DJIA. As I stated earlier, it's time for you to consider the next drop (like tomorrow?). Then look for 12700.

337. OBlunder Still Supports Paying for Overseas Oil and No Job Creation

Oh the media and their negative conservative headings! Catch this one: "Obama warns republicans leave tax cuts alone." Just another LIBERAL Associate Press article. Would you believe it has nothing to do with the Republicans not supporting a tax cut (even though I do)? The article states that Obama doesn't want to allow even a decision on the oil pipeline between Canada and the United States all the way to Texas until 2013 (politics - after next elections). Out of work and need a good paying construction job? Well, you won't be getting one here until 2013 when our new President kicks the bum out!

HOW can a leader of this country turn his back to creating jobs? It is unimaginable! The old fuel industries are our saviors to get out of this economic crisis! Jobs, jobs, jobs --actual construction labor, construction equipment and other product manufacturing, and every other service connected to the process of building a multi-state + Canadian pipeline. Talk about killing capitalism and jobs! Thanks OBlunder!

Now for the tax cuts. Congress already passed the extension of unemployment benefits for a longer time period. Did we have to dig in our pockets again to pay these people because OBlunder won't open up the industries that can create jobs? Strike1,963 at least. Now he wants to continue the sabotage to Seniors by robbing Medicare funding for another year, to give again to those having jobs. He would rather throw pennies at the fortunate workers than give to the poor while killing the Medicare system even more; which will turn out to be a much higher tax burden on all of us to catch up on the dollars already thrown away on the program.

Get MAD people. We have a clown in the White House who is MORE than a clown! He is destroying America.

336. Tax Time x 4

Please bring on the Flat Tax! I just installed my H&R Block at Home tax program and cranked in some numbers to estimate my 2011 taxes. I do this every December to determine if I can take more gains or need to take more losses. Well, 2011 begins the broker's reporting of Cost Basis for stocks bought in 2011 and sold (bond cost basis reporting begins in 2013). So what are your in store for when reporting your gains/losses you ask? A nightmare!

For each stock sold you must first tell the IRS if the broker reported it on the 1099-B form. Then you need to tell the IRS what is in some new boxes on the 1099-B which indicates whether cost basis was included (i.e., stock bought in 2011) or not (bought before 2011). So, you have 3 possibilities: (1) Long term gain/lost for stock bought before 2011, (2) Short term gain/lost for stock bought before 2011, (3) Short term gain/loss for stock bought in 2011. For (3) you then get to answer the cost basis questions and any differences you determine (e.g.,if you have REIT that pays out non-taxable dividend and you have to adjust the cost basis accordingly but the broker's system didn't do it).

Anyway, the time to complete will probably go up about 4 times from of before for gain/loss reporting! Don't you love tax forms?

I am so-o-o-o-o in favor of a flat tax. And the no tax reporting under it is NOT the only major benefit. Please Goggle the Internet for "flat tax" and learn the benefits, such as, NO MORE IRS overhead (imagine the savings to your pocket if that IRS is disbanded entirely); no more TAX accountants and lawyers; no more TAX time headaches and stress. Now imagine how more efficiently corporations can function and run and that benefit coming back to you as reduced product/service costs. How about NO MORE Congress bickering and loop holes or discussions. So many cost benefits! So, please do some homework. Look also at Amazon.com for books.

335. Who's Side is OBlunder On?

What I thought was an article just about Iran capturing a US, probably CIA, drone turned out to be an alarming, bend over, O will kiss your butt article. Read the last two paragraphs of the article and you will see that O wants Congress to back down on additional Iran sanctions. Puppet O is obviously well influenced by Russia and China!

Yes, it's bad that such high technology fell into Iran's hands. You'll read that the drone is actually programmed to land on its own if contact lost. Land in enemy territory! Give $Millions of technology away! Give the most dangerous leader in the world a way to counteract our drones! WHY WASN'T IT PROGRAMMED TO SELF-DESTRUCT if not landed by our military? How dumb are we? And now we will forget our mission to stop NUCLEAR WEAPON development in Iran? Does the word IMPEACH come to mind? One more year may be too many!

334. Timmy Geithner Squawks Like a Parrot

"Geithner 'encouraged' by fiscal progress in Europe" tells how Geithner is whizzed by the European wizards. I truly hope he's right. But, how can we believe Timmy, our Treasurer, who continues to keep our feet firmly stuck in America's economic woes? I just read something interesting in Stephen King's "The Dark Half" that reminded me of Timmy. Stephen writes (paraphrasing since I don't want to scan the entire book to find it again): Do you know how no questions are asked and no attempts to join a conversation are offered by individuals who don't have a clue what the other person is talking about?Sure you do. Even I catch myself just going along with the flow (hoping it ends soon). However, I bet those people can summarize how the other person feels and said once the conversation is over. But, can that other person articulate WHY the originator's comments are true or false? That's how I feel about Timmy. His comments tell me nothing I didn't already know or anybody already knows. I would have like to know his opinion on some of the specifics discussed, like the one by the German Finance adviser who wants to create a fund in every country. (see #328). Why do we continue to pay the high salarier officials when their perfomance is not only poor, but damaging?

333. AP: Dirt, Dirt, Dirt

"Perry called top donors from work phones" is yet another Liberal AP article throwing mud at a Republican candidate. One that probably isn't even a factor any more to boot. You'll note they do admit they DON'T know what the conversations were about. Gee, maybe he was inviting them all to a 17-day conference in Hawaii to solicit their ideas via a 2012 Texas planning session. Come on AP! Why didn't you report on the O's CAMPAIGNING? He's been campaigning using We the People's tax dollars all year! Surely there is more important news to report re this world and America than to-the-minute phone call chronologies. How about the 1/2 $B to Solyndra? Or the ATF's gift of guns to the Mexican drug lords who KILLED one of our border agents? Your Liberal bias and articles are disgusting!

332. Whoa There - More market Advice

"Don't get mad at Wall Street, get even" revisits a know end-of-the-year phenomenon. Yes, there is usually a sell off of "bad" stuff to dress the books before the annual report comes out. But, is the bad stuff ALWAYS stuff that will be good within a month as this article states for M.r Putnam's picks? I say not. However, I would venture to guess that Mr. Putnam scrapped his bad and picked up things that either grew even better or maybe were safer. Remember, once-a-year portfolio dressing is ALWAYS a must; not necessarily to scrap the worse performing, but to REBALANCE the portfolio for diversity and your life style/age. Mutual funds need to take into consideration the balancing of risk. They also need to consider the new, FULL year's objectives and design a portfolio to fit it. They therefore need to shun a new dress, meaning they need to change the portfolio and scrap something. Do you scrap your winners or losers? Duh! Another consideration is whether you pass capital gains through to the holders (THEY pay the taxes) or sell losers and not pass gains (or losses) through. So, don't get excited that there are treasures thrown away for your pickings. Hold on to your methodology of stock picking first. If anything in the list passes those tests, then BUY.

We are still edging towards the 12200 resistance stated in #324. The Mutual Fund redressing SHOULD take effect so and knock us back a little. But, acknowledge what is causing the drop. Also, note that computers set to trigger at a certain level do NOT consider everything and usually cause the market to drop more than it should. That's BUY TIME.

331. The World is a Mess -- Let's Party

The world's economy is a mess, it's politics is a mess, it's love for each other is a mess. America has its own problems too, such as, budget, Medicare & SS, Medicare doctor fees, Immigration policy, Foreign policy (lack of), trade deficit. The majority of America's problems have been going on for years and decades. Congress continues to spin wheels. The President continues to hide in a closet and wish others would lead. But, what does that matter? Let's take a 17-day vacation to Hawaii! Yet again, the President of the United States ignores a bucket of overflowing toxic waste in his own house. How many hundred of thousands of dollars will it COST US at Christmas time to send him and his security people on huge not-so-green planes all the way to Hawaii? The trip is one thing; the loss of another 17 days up-righting a sinking boat is much more important. Happy HOlidays Pres! YOu bring this wOrld sO-O-O-O much jOy! Keep Oblundering alOng. UnfOtunately, yOu will still have yOur jOb when yOu get back!

330. Let's Throw Up Our Hands in Defeat

Don't you love people who are pessimists? Don't you love people you measure results by half-empty glasses? Don't you love the Associated Press and Cato Institute for giving up on America's security? "Promises, Promises: Securing Border Impossible" shouts out their ignorance. We should throw up our hands and be satisfied with the border security we have! We should ignore the even more threatening future and downgrade our house from wood to straw! Get a life people. Learn the difference between "a mission" and specific "objectives". A mission statement is a guide to defining specific objectives. "Securing the Border' is a mission statement. Erecting a fence across 3/4 of the border by 2014 or 24/7 monitoring of all the border by electronic means by 2015 are objectives towards the mission. I now know the AP' and Cato's resolve for america -- half empty! I, on the other hand, think our progress on securing the border is "Half Full" with CONTINUOUS and QUICKER improvements ahead. Thank you Republican candidates for agreeing.

329. The Liberal Media Lights More Fires

As expected, the liberal media tactics to ignite Republican infighting is endless. The Associate Press has now targeted Bachmann as their match and Romney and Gingrich as the fuel -- see "Bachmann: Romney, Gingrich both have 'flaws'." If their words are 'truly' correct and not taken out of context, Michele needs to look in the mirror too. I hate the infighting as much as I hate the press; well, not as much. Everybody has some flaws -- so what! Everybody has different opinions and plans -- these can flaws in the oppositions's eyes even if the opposition is wrong. Do we need the press to bark every time they think someone is at the door? Go gnaw a bone (your own)! [Thanks for your input Sam, glad you are still here in Spirit to add to the mess]

328. Verstehen Sie Deutsch?

I thought I understood German a little until I read the article "German Finance minister details debt fund plan before EU summit." If I do understand it, then it's nothing but double accounting and mandatory tax increase for every country with debt greater than 60% GDP for that country. Isn't that like our government imposing taxes on each state? Am I correct in this analysis:

1. Each country in Europe with debt greater than 60% MUST set up a national fund consisting of debt above 60%.

2. The country then must apply a portion of their tax revenues to pay off at least 40% of this fund's debt over 20 years.

3. Thus, the country will need to cut spending and/or raise tax revenues enough to do this.

4. Hmmm. Who pays the holders of the debt in this special fund for the 20 years? If I understand the plan, the country that issued the debt in the first place must still pay the debt holders and also pay off/buy back up to 40% of the debt over 20 years. Right?

5. And this is helping the nations to grow their economy how? When implemented, aren't they lowering their economic intake (tax revenues + other revenue) by an additional amount to pay the fund off?

I guess I don't see the logistics of this scheme. What's the difference between this and just telling them they need to pay off 40% of their debt above the 60% debt above GDP? Or really ENFORCING the rule they already have of the upper debt of GDP limit? Sounds like our government in that instead of enforcing a law, just create another law to enforce something else to hide the first, then create later another law to hide both the first and second laws, etc. Oh, yes, don't forget the EXCEPTIONS to the first law, then second, third, etc. until everyone if excepted and we are socialized. Too big to fail laws. Where and when does it stop?

As I expected, the EURO concept just isn't going to work for decades. America did it with a national currency eliminating other individual currencies. But this was way before unions controlled things. Back when it was actually more effective and efficient to do so. Attempting this when Europe did was in the midst of an already complex economic and technical environment. I'll have to look back at the reasoning why they proposed a Euro. However, I had already suspected the individual countries had to be stroked specially and differently to get each on board. I don't recall seeing that. I only saw a mass plan suck them in like a vacuum cleaner. Good luck.

327. Know Your Enemy, BUT Don't Kiss Their Butts

How do you feel about China and Russia? Do you get an uncomfortable feeling that they continue to allow Iran to build a nuclear weapon? Do you feel like me that once they note only have the technology, but a weapon, that they can join them in Asian supremecy to the point where we are threatened BIG TIME? Now add Turkey to the mix where Iran has their nose in helping them develop nuclear. And do you think Pakistan and Afghanistan will NOT join the then close supremacy? My feeling again surfaced when I read this article re Russia essentially telling us we're wasting our time (with the UN) trying to implement sanctions. Bend over China and Russia, OBlunder will gratefully bow and kiss your butts. But first, he'll lie his butt off and tell We the People that he LOVES America. I have already concluded he is totally naive and blind-sighted by his entire staff and especially foreign country leaders. GET HIM OUT of the White House.

326. AP Liberals Love Their HATE headings

Two Liberal articles stand out today from The Associated Press:

The first "Gingrich's unpredictability raises concerns" by Laurie Kellman tries to get the country in an uproar with her HEADING. when the jest of the article is just one republican's answer, and probably rushed one, to a LEADING question re Newt's immigration comments. I'll take Newt's unpredictability over Mr. Oblunder's predictable failures any day! Especially when Newt's right on and the Republican whose opinion is asked is dead wrong. We could even surmise that the Republican quoted just hasn't thought the issue through OR simply stating that he Baa-Baas with the rest of the sheep.

The second article with the heading "Romney attacks Gingrich as Washington insider" again throws gas on the fire the Liberal's always start when they are losing control. This time trying to give the Republican candidates the image of infighting and chaos. I believe the point Romney was making is the country needs HIS BUSINESS-oriented leadership in the White House more than his political experience that he comes up short on. That's fair; he wants to win the presidency. I say the White House needs BOTH a Business-Oriented AND political administration. I would love to have Gingrich and Romey on the same ticket. Although, I would at this time lean to Newt as President and Romney as Vice President.

But, who knows who will win out in the end, even in my mind.

325. Liberal Media ABC Spouts Off Again - Food Stamps Bush's Fault

Check out the headline in this. Now read it and see the liberal bias for yourself. Once again Bush is blamed for the Anointed One incompetence to manage the Food Stamp program. Or should I say the FRAUD going on! Well, gee, maybe Eric Holder, who I now dub as Mr. Corruption, should swing his bat at this. But then, he'll never hit the ball and only add another strike to his total and it's NOT 3 strikes and your out in the old White House game.

ABC needs to be sent you-know-where! I'm sure the Anointed One whispered in their ear Once again. Thanks Mr. Blunder. Newt was right! MORE Food Stamps than ever are being issed. Only change now is that people get a debit card. If you scan back through other articles this week, you'll find reports of Food Stamp abuse where some "stores" are giving people CASH for their Food Stamp credit LESS a fee for looking the other way. Thus, the recipients of Food Stamps CAN use the Food Stamp credit, NOW CASH, for anything. $Trillions in debt and We the People continue to let Mr. Oblunder remain in office to allow him and Eric Holder CORRUPT our country. Am I asking too much for you ignorant liberals (includes ABC) to wake up? Or are you part of the corruption? Please pack your bags for Russia -- you aren't going to destroy America!

324. Market Rebound

Keep an eye on 12200 resistance. We may stop there yet again until Congress agrees on next "financial/job" issues: Extension of jobless benefits by increasing weeks already at 99 (against -- time to take ANY job), punish the wealthy who had greater than a $1M income by removing unemployment benefits (okay), punish the upper 1% of wealthy with 3.5% surtax (okay, we need the help, but let's make it personal income, not small businesses), increase medicare premiums for wealthy (okay, all seniors need their help), how about freezing of government payrolls (YES, need to get them in line with private salaries; cutting PENSIONS would be nice too!), reduce goverment jobs by 200,000 (okay, funnel off to private sector). Even more important is to kill the 27% cut to doctors for medicare services -- we do not need to spend Congress resources on a health issues to burden their economic decisions. Frank-Dodd repeal would be a blessing! With only about 20% implemented, we've already spent over $250M from OUR pockets for NO benefits. I just want to repeat again: BYE BARNEY FRANK, you loser! For some insight on latest economic battles in House, see this article.

With another Congressional vacation after mid-month, I wouldn't expect anything to happen until the end-of-the-year show. So, look for 12200 resistance once again. Maybe we'll shoot through it in December to next resistance of 12700. We need a strong finish to stave off the rating companies.

323. "American Assassin" by Vince Flynn

In this novel Mr. Flynn takes us back to Mitch Rapp's (main character) recruitment into the CIA, his training, and his first two assignments. It was okay, but not as interesting as his other books. This book actually seemed like he wrote it before the others. I'd still give it a 4 star though. Easy reading.

322. Goodbye Mr. Blabber

Finally he's gone! One down, many more to go! Thanks for all your disservice Barney Frank. May you go into the history books, rightfully, BEHIND Barney the dinosaur! You will forever be remembered for your Fannie Mae and Freddie Mac blunder that sparked the Financial Crisis. But, you did earn #1 spot in the worst Congress representative list. Congrats!