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Posts Made By: david elosser

March 26, 2010 02:41 PM Forum: Politics

Obama's Health Care Speech in Iowa City

Posted By david elosser
Interesting how he went to Iowa, a state with one of the lowest unemployment rates in the nation (6.7% in Feb). Why not make that speech in, say, North Carolina with an 11.2% rate, or California with a 12.5% rate, or Michigan with a 14.1% rate?

David E

March 27, 2010 12:47 PM Forum: Politics

$140/mo

Posted By david elosser
Mark Norby said:
Now that the bill has been signed, we can find out what's in it, all 2700 pages worth. Did I hear somewhere that this bill wouldn't raise people's taxes? Except for the rich, of course-those making over $200k/yr.

These taxes are aimed squarely at the middle class. They always are. As a block the middle class has the lion's share of the money. At least up till now.

David E

April 8, 2010 12:48 AM Forum: Politics

GM Repays Govt Loan

Posted By david elosser
"Government" Motors paid back the first billion or two using cash reserves it got from the bailout. In other words, it used government loan money to pay back some of the government loan. Now, these are interesting numbers: last year GM lost $4.3 billion on revenuse of $57.5 billion, they lost $30 bil in 2008, and this year they are going to pay back $45.3 billion?

And GM's got other troubles: "According to a report by the Government Accountability Office, GM will need to add $12.3 billion into its pension fund by 2014. If GM and Chrysler (which is in the hole $2.6 billion) terminate their pensions, the Pension Benefit Guaranty Corporation – funded by, you know who - would then become responsible for as much as $14.5 billion in unfunded liabilities."
http://finance.yahoo.com/tech-ticker/this-is-progress-gm-loses-4.3b-needs-12.3b-to-fund-its-pension-462788.html?tickers=gm,f,tm,hmc,%5Edji,%5Egspc,TBT

David E


April 19, 2010 09:36 PM Forum: Politics

So what do we think the ramifications politically

Posted By david elosser
Looks like Goldman Sachs didn't get their money's worth with Obama sad
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638

At the very least, this looks like a conflict of interest with Obama. I think the DNC should give the money back.

David E


April 21, 2010 10:31 AM Forum: Politics

The voice of the left....

Posted By david elosser
As long as our lefties could continue to blame Bush for everything they hung in here. But with 2+ years now of Democrat control it's clear they can no longer use that strategy. Not that they won't keep trying: Obama blamed everybody but himself for the recent coal mine disaster, even West Virginia's two Democrat Senators! It's clear that the Obama administration has put our nation in a shambles. The world is mopping the floor with us, from the Russians with the nuclear arms treaty, to the economic power of China. Although our economy is slowly getting better, China is beating us over the head with a growth in GDP more than 3 times our current expected economic growth. Obama has alienated our good friend in Israel while failing to contain Iran and their march to obtain nuclear weapons. And we now have a government that wants to control even the salt we consume in our lives, while taking inexorable steps to legalizing marijuana.

David E

April 21, 2010 11:51 PM Forum: Politics

Re: Big Brother (or Sister) is watching you!

Posted By david elosser
Lee Spain said:

If this precedent gets set, a host of states will follow. It'll be great fun to get tax bills for everything you've ever purchased online for about eight years.

People think online sales are about saving a whopping five percent on your price, but they are really about not having to deal with hoodlums at the local mall or huge lines at big box retailers.

In my case, it's most often about getting what I cannot find in my area. And I'm saving 8% sales tax which often makes up for the shipping cost.

David E

April 23, 2010 10:22 PM Forum: Politics

In a diversion of lambasting Obama

Posted By david elosser
Michael Koons said:

How about this Arizona law!!!!
I hope she signs it and things start changing down there, and Obama is dead wrong, if they are illegally here, out with them!

She has, and it looks like the wrestling match is about to begin:
http://www.astromart.com/forums/viewpost.asp?forum_post_id=712828&poll_id=&news_id=&page=

David E

April 28, 2010 12:21 PM Forum: Politics

"All passengers, please brace for economic impact.

Posted By david elosser
If Caterpillar is showing a profit, that's great! That is what companies are supposed to do. Unfortunately, in order to make that profit they had to cut thousands of jobs in the US, 22 thousand worldwide. They are correct about tax increases: there is never a good time to raise taxes on anyone, during a deep recession is the worst possible time, especially when US corporate tax rates are among the highest in the world. Also, Caterpillar cannot make a profit from US sales (from the article you linked to): "Caterpillar Inc reported a stronger-than-expected quarterly profit on Monday and raised its full-year sales forecast above Wall Street estimates, citing an improving global economy, especially in Asia and Latin America...But the company cut its outlook for 2010 U.S. housing starts by 20 percent -- from 1 million to 800,000 -- saying the weak labor market was the major reason that many remain pessimistic about the U.S. economy..."The volume is beginning to come back," said Longbow Securities analyst Eli Lustgarten. "But it's all outside the United States." However, if you have any kind of stock portfolio, Mike, like a 401K, IRS, or Profit Sharing plan, most likely it has Caterpillar stock so your nestegg just grew a little bit more. That's good news!

Now about these health-care charges these companies are making in the $billions, I've been through this before here, when the news originally broke, I'll explain this again. From the linked article: "Let me ask a question of readers here in even plainer English: Can anybody actually be upset about the fact that giant corporations have to stop taking tax deductions for welfare checks they get for providing health care to their employees and retirees?" This is a misrepresentation of what was happening. If a company pays out, say, $1000 to retiree health care plan, that's $1000 in assets. They paid out $1000 in cash to buy the plan, making a credit entry to balance out the $1000 plan. If the government gives the company a $100 subsidy, the company cannot claim that the health care plan is suddenly worth only $900. They still paid $1000 for an asset that becomes an expense when it gets used up over time. If they claimed $900, the books would not balance and that cannot happen, period. Now, maybe you have a problem with the government giving a subsidy to a company to encourage them to buy health care for their employees and retirees, but I don't. There is no tax loophole here. If the government gives a $100 subsidy and then makes the company pay back $20 in taxes in reality what they are doing is reducing the subsidy. And while we are raising taxes and reducing subsidies, countries like China are running rings around us by cutting taxes and increasing employee subsidies. I'm surprised that this Cody Willard does not understand this. But then again, maybe I'm not.

One more thing. All these companies announcing these non-cash charges are not belly aching. Just the opposite. They are required by law to disclose this information by the SEC.
David E

April 30, 2010 12:47 PM Forum: Politics

Cherry Springs/Potter County/Natural Gas

Posted By david elosser
Not good Mike. sad I was under the impression that extracting energy goods from shale was done in very remote regions. How close are you to the operations?

David E

May 18, 2010 01:44 PM Forum: Politics

Texas Rewriting History

Posted By david elosser
I will be consistant here and say that I would prefer that Thomas Jefferson be included in textbooks. I say consistant because conservatives have been complaining for decades about liberals who wrote the book on censorship especially with academics. OTOH there is nothing to stop the teachers and students from discussing TJ anyway, or anything else that is not in the official textbooks. More than half of what I learned about American history in school did not come from my textbooks.

Some aspects of the new curriculum that I would agree with (quotes from the article):
1) The new curriculum asserts that "the right to keep and bear arms" is an important element of a democratic society.
2) recasts the Israeli-Palestinian conflict as driven by Islamic fundamentalism (as long as radical Islamists are emphasized).
3) a belief in America as a nation chosen by God as a beacon to the world, and free enterprise as the cornerstone of liberty and democracy.

David E

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