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Keyword: socialism

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  • API Warns Of Upcoming 'tsunami' Of EPA Regulations For Refineries

    02/16/2012 2:12:08 PM PST · by Oldeconomybuyer · 13 replies
    Oil and Gas Online ^ | February 15, 2012
    The American Petroleum Institute Director of Regulatory and Scientific Affairs Howard Feldman warned of a "veritable tsunami" of new EPA air regulations for refineries that could "put some refineries out of business, diminish U.S. fuel manufacturing capacity, and increase our reliance on imported fuels" recently in a conference call with reporters: "The president himself has called on federal agencies to take into account the impact of regulations on jobs and the economy," Feldman said. "EPA should follow through by ensuring that their regulatory proposals are necessary, practical, and fair." Four U.S. refineries closed last year, according to Feldman. He said...
  • DeSoto Co. asks EPA to alter ozone listing

    02/16/2012 1:55:50 PM PST · by Oldeconomybuyer · 3 replies · 1+ views
    Biloxi-Gulfport Sun Herald ^ | February 16, 2012
    HERNANDO, Miss. -- DeSoto County has formally objected to the Environmental Protection Agency's plan to list it as "nonattainment" on ozone levels. DeSoto County officials also want the EPA to abandon a "misguided" proposal to list the county with Memphis as falling short on ozone standards. In December, EPA announced a proposal to include parts of DeSoto with Memphis, which has ozone emissions above allowable limits set by federal regulation. The plan would include urban areas of DeSoto County and Crittenden County, Ark., in the Memphis ozone "non-attainment" area. Ozone non-attainment could impair industrial recruitment by requiring prospective firms to...
  • EPA looking into Navistar diesel-engine production

    02/16/2012 1:46:50 PM PST · by Oldeconomybuyer · 11 replies
    Chicago Tribune ^ | February 16, 2012
    Navistar International Corp on Thursday confirmed that it has received notice from the U.S. Environmental Protection Agency of an investigation into diesel-engine production that could lead to as much as $285 million in fines. In a letter dated Jan. 30, the EPA informed the Lisle, Illinois truck and engine maker that it is investigating whether 7,600 engines built in 2009 were properly certified under the Clean Air Act. Each violation carries a fine of up to $37,500. The engines in question were so-called transition engines, or engines built at a time when the company was preparing to launch a new...
  • Climate Action: Stopping Global Warming Through the Back Door

    02/16/2012 9:54:00 AM PST · by Oldeconomybuyer · 13 replies
    TIME blog ^ | February 16, 2012 | By BRYAN WALSH
    When it comes to dealing with climate change—and reducing carbon emissions, the top man-made cause of warming—the international community is doing a crap job. The U.N. process is bogged down, with ambitions that seem to shrink each year even as the summits themselves grow longer and longer. So with the front door locked on climate action, it might be time to try the back. That’s why the U.S.—as well as representatives from the U.N. and several other countries—is getting behind a new initiative to reduce black carbon, methane and other “short-lived” greenhouse gases, so called because they remain in the...
  • U.S. Joins Effort to Fight Climate Change

    02/16/2012 9:48:05 AM PST · by Oldeconomybuyer · 20 replies
    Wall Street Journal ^ | February 16, 2012 | By TENNILLE TRACY
    WASHINGTON — Secretary of State Hillary Clinton announced Thursday the formation of a new global coalition to fight emissions other than carbon dioxide that contribute to climate change. The coalition—which includes Sweden, Mexico, Canada, Bangladesh and the U.S. will be funded with $15 million, mostly from the U.S. It hasn't yet determined which actions it will take to reduce the emissions, nor has it identified specific reduction targets. The administration is also putting up federal dollars for clean-energy investments, unveiling a 2013 budget plan this week that sets aside hundreds of millions of dollars for wind, solar and other clean-energy...
  • Washington's Knack for Picking Losers

    02/16/2012 7:56:39 AM PST · by Oldeconomybuyer · 3 replies
    Wall Street Journal ^ | February 16, 2012 | By MICHAEL J. BOSKIN
    Like the mythical monster Hydra—who grew two heads every time Hercules cut one off—President Obama, in both his State of the Union address and his new budget, has defiantly doubled down on his brand of industrial policy, the usually ill-advised attempt by governments to promote particular industries, companies and technologies at the expense of broad, evenhanded competition. Despite his record of picking losers—witness the failed "clean energy" projects Solyndra, Ener1 and Beacon Power—Mr. Obama appears determined to continue pushing his brew of federal spending, regulations, mandates, special waivers, loan guarantees, subsidies and tax breaks for companies he deems worthy. Favoring...
  • GM Posts Record Annual Profit [Unions Paid Off]

    02/16/2012 7:49:50 AM PST · by Oldeconomybuyer · 9 replies
    Wall Street Journal ^ | February 16, 2012 | By SHARON TERLEP
    General Motors Co. on Thursday reported a record profit of $7.6 billion for 2011, but losses in Europe and thin profit margins in the fourth quarter underscored challenges the company faces in 2012. But GM lost $747 million in Europe, where it is racing to turn around its troubled Opel unit. The company said its 47,500 United Auto Workers-represented hourly workers will receive profit-sharing checks of $7,000, the highest amount workers have received. In addition, they will receive $250 each for meeting quality targets.
  • Unrecoverable Stall: Air France 447, America

    02/15/2012 8:17:32 PM PST · by stolinsky · 4 replies
    www.stolinsky.com ^ | 02-16-12 | stolinsky
      Unrecoverable Stall: Air France 447, America David C. Stolinsky Feb. 16, 2012 The closest I ever came to flying a plane was sitting next to a colleague who was piloting a small plane. But even I know that what enables a plane to fly is lift. As the plane moves forward, the angle and shape of the wings cause the air rushing by to produce an upward force. This lift must exceed the drag caused by the friction of the air, and still be enough to counter the plane’s weight. Unlike balloons or blimps, airplanes are heavier than...
  • Latest layoffs, cuts drive Greeks to despair

    02/15/2012 5:54:47 PM PST · by Oldeconomybuyer · 24 replies
    CBS News ^ | February 15, 2012
    Greece's austerity measures are being met with anger and grief by the people of the debt-ridden country. Days of violent protests couldn't stop Greece's parliament from passing a European bailout deal -- but now the country faces massive cutbacks. Whole government departments will be shut down and as many as 15,000 public servants will be thrown out of work. The crisis is even prompting a spike in suicide attemts. One of the things that has forced the Greek people to the precipice is the corrupt and inefficient government that everyone agrees must shrink. For decades, politicians have been handing out...
  • Obama Heads West for 8 Star-Studded Fundraisers, $8 Million Haul

    02/15/2012 12:15:43 PM PST · by Oldeconomybuyer · 5 replies
    ABC News ^ | February 15, 2012 | By Devin Dwyer
    President Obama heads west today for a three-day, three-state swing aimed largely at filling the coffers of his re-election campaign and honing his message to supporters in key states. Obama will headline eight fundraisers across California and Washington through Friday night. The events are expected to net at least $8.6 million for the Obama Victory Fund. Much of Obama’s focus will be on mingling with some of his wealthiest – and most famous – supporters in Los Angeles and San Francisco, who will play a key role in underwriting his bid for a second term. Later he’ll dine with 80...
  • Obama's Budget Director Contradicts Obamacare Supreme Court Argument

    02/15/2012 11:59:40 AM PST · by Oldeconomybuyer · 19 replies
    The Weekly Standard ^ | February 5, 2012 | BY DANIEL HALPER
    As the liberal website Slate has explained about Obamacare, President Obama's signature legislation "combine[s] an express mandatory insurance requirement with tax penalties . . . for noncompliance." Which is why the Obama "administration’s lawyers have cited . . . the tax . . . power in support of the mandate," and that remains a central tenet of the administration's Supreme Court case in defending Obamacare. It is not the White House is mandating care, they are telling the Supreme Court, but it's that one will be taxed if he does not get health care. But today on Capitol Hill, acting...
  • Federal funds flow to clean-energy firms with Obama administration ties

    02/15/2012 11:49:17 AM PST · by Oldeconomybuyer · 11 replies
    Washington Post ^ | February 14, 2012 | By Carol D. Leonnig and Joe Stephens
    Sanjay Wagle was a venture capitalist and Barack Obama fundraiser in 2008, rallying support through a group he headed known as Clean Tech for Obama. Shortly after Obama’s election, he left his California firm to join the Energy Department, just as the administration embarked on a massive program to stimulate the economy with federal investments in clean-technology firms. During the next three years, the department provided $2.4 billion in public funding to clean-energy companies in which Wagle’s former firm, Vantage Point Venture Partners, had invested, a Washington Post analysis found. Overall, the Post found that $3.9 billion in federal grants...
  • U.S. startups hits 25-year low

    02/15/2012 11:40:08 AM PST · by Oldeconomybuyer · 9 replies
    Orange County Register (CA) ^ | February 15, 2012 | by Jan Norman
    Unemployed Americans who started businesses last year was the lowest in at least a quarter-century. In 2011, 3.3% of out-of-work Americans started businesses, compared to 4.7% in 2010. But recent start-up activity is anemic compared to 1989 when 20.3% of unemployed were starting businesses. Until 1997, start-up activity was typically in double digits. “Basically, it was not a very inviting environment for would-be entrepreneurs,” said John A. Challenger, CEO of Challenger, Gray & Christmas. “While big business definitely began to reap the benefits of the recovery in 2011, conditions were not nearly as fruitful for existing small business, let along...
  • Obama Budget Raises Taxes on Small Employers, Savers, Families

    02/15/2012 11:02:04 AM PST · by 92nina · 6 replies
    ATR ^ | 2012-02-13 | Ryan Ellis
    President Obama released his FY 2013 budget [Monday] morning. By his own numbers, his budget raises net taxes over the next decade by $1.56 trillion (Table S-9, page 225). As a percentage of the economy, tax revenues would rise all the way to 20.1% of GDP in 2022, far higher than the historical tax revenue average of 18.3% of GDP (Table S-1, page 205). Here are some of the tax lowlights: All 20 of the new or higher taxes in Obamacare are assumed to take place. That means that there will be a 3.8 percentage point surtax on investment income....
  • The Winner of the Civil Rights Movement was . . . Washington, DC

    02/14/2012 1:55:32 PM PST · by billflax · 5 replies
    Forbes ^ | 02/14/2012 | Bill Flax
    Amidst flowery February orations, in retrospect, the Civil Rights movement’s main beneficiary appears to be Washington. State segregation ceased, which is well, but forced federal integration remains, well, wrong. Washington rightly overturned denials of freedom oppressing southern blacks, but did so by infringing on others’ liberties elsewhere. En route, civil rights became the sine qua non of American statism. Civil rights legislation provided the primary catalyst for government’s escalation since WWII. Sadly, the Civil Rights Act brought neither legal equality as proposed in theory; nor equality of outcomes to which the Left strove in practice. The CRA failed doubly. First,...
  • Federal Agents Inspect Your Child's Lunch

    02/14/2012 1:45:56 PM PST · by NYer · 63 replies
    Rushlimbaugh.com ^ | February 14, 2012 | Rush Limbaugh
    RUSH: This is from Rayford, North Carolina. Carolina Journal. I'm gonna read it to you exactly as it printed out here: "A preschooler at West Hoke Elementary School ate three chicken nuggets for lunch Jan. 30 because a state employee told her the lunch her mother packed was not nutritious. The girl’s turkey and cheese sandwich, banana, potato chips and apple juice did not meet US Department of Agriculture guidelines, according to the interpretation of the agent who was inspecting all lunch boxes in her More at Four classroom that day." Again, let me read this to you again: "The...
  • Buffett Rule Shares Flaw with Tax It Would Replace

    02/14/2012 12:46:44 PM PST · by Oldeconomybuyer · 3 replies
    TIME via Yahoo! News ^ | February 14, 2012 | By DAN KADLEC
    Say goodbye to the much-loathed Alternative Minimum Tax and hello to the Buffett Rule. Sweet relief. The AMT has perplexed taxpayers and agonized accountants for decades. But wait: Are the AMT and the Buffett Rule really so different? The two take aim at different types of tax avoidance, so the details have little in common. But the headline is the same: Both were designed to make sure that wealthy citizens pay their fair share of income tax -- without creating a tax monster that somehow reaches down to regular people. When the AMT came into being in 1969, rich people...
  • A California lesson in progressive income taxation (The Margaret Thatcher Axiom Proven True)

    02/14/2012 11:01:06 AM PST · by SeekAndFind · 3 replies
    Hotair ^ | 02/14/2012 | Ed Morrissey
    Margaret Thatcher once famously pointed out the core problem of socialism: “They always run out of other people’s money.” California has been intent on demonstrating exactly what Thatcher meant with its highly progressive income-tax system that relies heavily on hitting the higher-income earners to fund their government. As the state has been discovering for the past few years, it’s a recipe for amplifying disaster in an economic downturn: Gov. Jerry Brown wants to hit California’s highest-income taxpayers with billions of dollars in new taxes, and is jousting with other groups with their own tax-the-rich measures over which, if any, will...
  • White House Economic Adviser: 'We Need a Global Minimum Tax'

    02/14/2012 3:02:05 AM PST · by CharlesThe Hammer · 15 replies
    The Weekly Standard ^ | 2/13/12 | Daniel Halper
    Gene Sperling, director of the White House's national economic council, said today at an official meeting that "we need a global minimum tax": “He supports corporate tax reform that would reduce expenditures and loopholes, lower rates for people investing and creating jobs in the U.S., due so further for manufacturing, and that we need to, as we have the Buffett Rule and the individual tax reform, we need a global minimum tax so that people have the assurance that nobody is escaping doing their fair share as part of a race to the bottom or having our tax code actually...
  • California’s Demographic Revolution (More proof CA = Doomed)

    02/13/2012 7:58:15 AM PST · by C19fan · 76 replies
    City Journal ^ | February 13, 2012 | Heather MacDonald
    California is in the middle of a far-reaching demographic shift: Hispanics, who already constitute a majority of the state’s schoolchildren, will be a majority of its workforce and of its population in a few decades. This is an even more momentous development than it seems. Unless Hispanics’ upward mobility improves, the state risks becoming more polarized economically and more reliant on a large government safety net. And as California goes, so goes the nation, whose own Hispanic population shift is just a generation or two behind.