Normally, sports doesn’t have much to do with politics here in Michigan.
Only in this case, what is happening behind the scenes should be of concern to everyone living in Michigan.
Hint: Think politicians being generous with other people’s money.
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(8)Nuh Uh.
(0)"First rule in government spending: Why build one when you can have two at twice the price?" - S.R. Hadden (John Hurt) "Contact"
I’m going to throw out a few hypothetical questions to the readers here at RM, and I’d like to get your candid response.
Ready?
Here we go…
{Click the red box to continue}
(5)Nuh Uh.(0)
The 20 year Regional Transit Authority, 1.2 mil property tax plan is on the ballot in four Southeastern Michigan counties, on November 8th. The public doesn’t seem to realize that this property tax will be imposed on all four counties, even if one or more of the counties reject it. A big change from past millage requests specifically designed to shove this tax down anti tax Macomb County’s throat. Michigan’s tax-and-spend establishment really wants this tax to pass.
The RTA master plan is $ 1.22 billion in new fare revenue, $ 3.1 to $ 3.3 billion in new property taxes, and $ 1.7 billion in new Federal & State subsidies. A grand total of $ 6 billion, more or less. Let’s say that the relatively modest increase in vehicle revenue miles provided by the RTA master plan – 32% – doubles their ridership. That $ 6 billion cost, divided by 78,327 new passengers, equals $ 76,602 per passenger over the 20 year period. You could buy every one of those 78,327 new riders a new car and pay for their fuel and insurance as well. Instead, RTA will treat them to the urban mass transit experience.
Urban buses and other mass transit vehicles have a special ambiance with their diverse ridership and high level of maintenance. This experience is enhanced by the faint aroma of pepper spray, plus the full array of odors you would encounter in a hospital emergency room during an overwhelming disaster – except for disinfectant. Bus scheduling allows those too poor to visit a casino or play online slots at Wizard Slots the opportunity to gamble daily on punctuality at their workplaces.
Why riders are unwilling to pay 20% of the cost of mass transit, and why mass transit funding has to be extracted from taxpayers using the threat of foreclosure. On top of this, mass transit advocates have to raid road funding and vehicle registration fees to deliver their ‘service’. No free market economics here, despite strong support from the Chamber of Commerce types.
(8)Nuh Uh.(0)Hillary's Plan to Loot Your 401k Account
International Business Times and Yahoo Finance just posted headline stories on the plan created by Hillary’s Wall Street masters to loot your future retirement savings. Today’s voluntary 401k savings plans will be replaced by mandatory retirement taxes on all private sector workers – and their employers – which would be turned over to Wall Street hedge funds for investment:
Hillary Clinton And Wall Street: Financial Industry May Control Retirement Savings In A Clinton Administration
By David Sirota and Avi Asher-Schapiro, IBT, 10/19/16 at 12:50 AMWhile Hillary Clinton has spent the presidential campaign saying as little as possible about her ties to Wall Street, the executive who some observers say could be her Treasury Secretary has been openly promoting a plan to give financial firms control of hundreds of billions of dollars in retirement savings. The executive is Tony James, president of the Blackstone Group.
It is a plan that proponents say could help millions of Americans — but could also enrich another constituency: the hedge fund and private equity industries that Blackstone dominates and that have donated millions to support Clinton’s presidential bid.
The proposal would require workers and employers to put a percentage of payroll into individual retirement accounts “to be invested well in pooled plans run by professional investment managers,” as James put it. In other words, individual voluntary 401(k)s would be replaced by a single national system, and much of the mandated savings would flow to Wall Street, where companies like Blackstone could earn big fees off the assets. And because of a gap in federal anti-corruption rules, there would be little to prevent the biggest investment contracts from being awarded to the biggest presidential campaign donors.
(13)Nuh Uh.(1)Gas Taxes.. say what?
Oh that’s right, it didn’t pass.
It didn’t pass, the voters said “no,” but what the heck. From the official propaganda unit of the MDoT
October 10, 2016 — The City of Ishpeming and the Michigan Department of Transportation (MDOT) marked the opening of two new modern roundabouts at a ceremony this morning, bringing the summer’s $4 million major construction investment to a close.
“MDOT and the City of Ishpeming collaborated in outstanding fashion to improve a longstanding safety problem and access management challenge in the City of Ishpeming,” said Aaron Johnson, manager of MDOT’s Ishpeming Transportation Service Center. “These modern roundabouts bring a safe and efficient transportation solution to US-41 and the city, and provide a wonderful new gateway to the community.”
Emboldened text deciphering: “Don’t forget to keep making the NASCAR turns.”
(8)Nuh Uh.(0)41st Place Among the States
You have probably read the Mackinac Center’s excellent works on Michigan’s government finances, much of which they release through Michigan Capitol Confidential. Top quality analyses, but parochial in the sense that they don’t place Michigan’s government finances in the context of the other American states. An Illinois 501(c)(3) organization, Institute for Truth in Accounting does, and has come up with a useful metric – taxpayer burden – by which you can rank Michigan financial status relative to the other states. No accounting degree necessary.
Suffice it to say, you will not be reading any of Truth in Accounting’s work in Michigan’s nitwit, cheerleading media.
(11)Nuh Uh.(1)Why No Criticism of GM, Chrysler, and the UAW? They Got a Much Sweeter Tax Loss Deal from the Democrats.
A Saturday story in the New York Times alleges that Republican Presidential nominee Donald J. Trump may have avoided paying income taxes for 18 years due to a $ 915 million net operating loss declared on his 1995 federal tax return. A net operating loss is a form of tax loss carry forward which can be used by a taxpayer to offset future (and sometimes past) income taxes due the federal government. The authors claim that someone anonymously mailed them pages from Trump’s 1995 return. A felony violation of federal law which the New York Times only participates in when its enemies are the victims. Given recent history, it is far more likely that some snake in Obama’s IRS mailed the pages to the New York Times. One more reason to impeach IRS Commissioner John Koskinen.
None of this is news. Trump admitted to the size of his 1990’s loss in his book Art of the Comeback. More interestingly, he explains how the Tax Reform Act of 1986 (TRA 1986) crushed the real estate market in New York and created his massive loss. Note that he mistakenly attributes his predicament to TEFRA, a 1982 act which also caused him some problems, but it was actually TRA 1986 which he is referring to.
Tax loss carry forwards date back to at least 1954 in the U.S. tax code. The logic behind them is simple: if the government benefits from an entity’s income, it should share that same entity’s misfortune when it runs losses. Both moral and ethical, two concepts not usually associated with the U.S. tax code. The salacious case being made against Trump has no merit, except as propaganda. Remember, Trump had to lose $ 915 million on long term assets to get the tax loss carry forward. More importantly, Trump’s massive loss was created by a sea change in the rules of the game dictated by the same federal government.
(13)Nuh Uh.(0)The man who single-highhandedly gave us eight years of a Clinton presidency, now wants to give us (potentially) eight more.
And you fools thought I was really a conservative!
(8)Nuh Uh.(0)
Attorney Thomas H. Bleakley (P23892) has to be feeling a lot like Captain John Yossarian, the harried protagonist of Joseph Heller’s great satirical novel Catch-22. Chief Judge Michael J. Talbot of the Michigan Court of Claims dismissed Attorney Bleakley’s Helen Moore et al v. Rick Snyder [16-000153-MM] lawsuit challenging the constitutionality of the Legislature’s passage of the DPS bail out on August 4th, in an order published on August 8th.
The Michigan Court of Claims was moved from the Ingham County Circuit Court to the Michigan Court of Appeals by PA 164 of 2013 to:
MCL 600.6419 Court of claims; exclusive jurisdiction; exceptions; claims less than $1,000.00; powers and jurisdiction; counterclaims; res judicata; setoff, recoupment, or cross declaration; writs of execution or garnishment; judgment as final; no jurisdiction of claim for compensation under MCL 418.101 to 418.941 and MCL 419.101 to 419.104; jurisdiction of circuit court over certain actions and proceedings; “the state or any of its departments or officers” defined.
Section 6419(1)
(a) To hear and determine any claim or demand, statutory or constitutional, liquidated or unliquidated, ex contractu or ex delicto, or any demand for monetary, equitable, or declaratory relief or any demand for an extraordinary writ against the state or any of its departments or officers notwithstanding another law that confers jurisdiction of the case in the circuit court.
But, according to Judge Talbot, not the constitutional claims pleaded in Helen Moore et al v. Rick Snyder
(7)Nuh Uh.(0)Liars Lie. Milliken was never a true Republican anyhow.
Queue the ‘Republican’ governor endorsing the Democrat ..again. ZZZZZZZ
From the Ivory tower:
Current and former governors of Michigan are either working for the Democratic candidate for president, Hillary Clinton, or have declined to endorse Trump in the race for the White House.
Former Gov. William Milliken, a moderate Republican from Traverse City, broke ranks over the weekend and is endorsing Clinton for the presidency.
Oh my, this has never happened before!
Well, maybe once before.
(10)Nuh Uh.(1)
