Archive for the 'Economics' Category

Administration Defends Insurance Mandate as a Tax

Posted on July 18, 2010 by The Ocean State Republican

So, you mean we were lied to? Gosh, Washington politicians would never lie to gain our support…

WASHINGTON — When Congress required most Americans to obtain health insurance or pay a penalty, Democrats denied that they were creating a new tax. But in court, the Obama administration and its allies now defend the requirement as an exercise of the government’s “power to lay and collect taxes.”

And that power, they say, is even more sweeping than the federal power to regulate interstate commerce.

Administration officials say the tax argument is a linchpin of their legal case in defense of the health care overhaul and its individual mandate, now being challenged in court by more than 20 states and several private organizations…

Read More: The New York Times

Filed Under: Economics, Healthcare Reform and The Obamessiah Closed

EPTA Seeks Auditor General Review of Teachers’ Contract

Posted on June 15, 2010 by Rhode Island Red

EPTA Seeks Auditor General Review of Impact of Teachers’ Contract on School Deficit and Taxpayers before Council Approval of New Pact

The East Providence Taxpayers Association (EPTA) today wrote to Acting Auditor General Dennis Hoyle expressing its concerns that ratification of the newly proposed teachers’ contract by City Council would result in additional unlawful school department deficit spending unless a viable deficit elimination plan approved by the Auditor General is adopted first. The East Providence City Council is set to consider approval of the new teachers’ contract at its meeting Tuesday evening at 7:30 PM at City Hall.

The School Department announced in April that it had an anticipated school budget deficit of $2.5 million in the current fiscal year. State law requires the School Department to develop a corrective action plan to eliminate the deficit and to transmit the plan to the City Council within five days of the discovery of an anticipated budget gap. The plan must also be approved by the Auditor General. The School Department has not yet produced a deficit corrective action plan approved by the Auditor General.

The EPTA letter asked the Auditor General to communicate to the City Council before the close of business Tuesday his views about the advisability of the Council ratifying the teachers’ contract before a corrective action plan for eliminating the current year’s school budget deficit was approved. The letter also asked the Auditor General to communicate to both the City Council and the School Committee his opinion about whether or not the East Providence School Department is currently in compliance with the state laws requiring development and approval of a deficit elimination plan. The EPTA also asked the City Council in a separate letter to defer approval of the contract until a deficit plan was approved. Continue reading ‘EPTA Seeks Auditor General Review of Teachers’ Contract’

Filed Under: Big Labor, Economics and Public Policy Closed

RIGOP Chair to Hold State House Press Conference | Thursday

Posted on June 9, 2010 by The Ocean State Republican

Republican Legislators and Prospective Republican Legislative Candidates to Stand in Support of Chairman Cicione on Budget

Rhode Island Republican Party Chairman Giovanni Cicione will address the media tomorrow, June 10, 2010 to discuss the Rhode Island State budget enacted this week by the General Assembly. Cicione will challenge the General Assembly to show the courage to enact a balanced budget, as opposed to the current plan to anticipate a windfall of cash from the federal government to balance the State’s books. Cicione will also call on Democrat Leaders in the Assembly to free cities and towns from the unfunded mandates that make it nearly impossible to balance their own budgets without raising taxes. Participants will also get a glimpse of some of the candidates who will stand up and challenge Democrat control over the General Assembly in the next election.

WHEN: Thursday, June 10, 2010 at 12:30 p.m.

WHERE: RI State House, South Side (facing Downtown Providence)

Source: Rhode Island Republican Party

Filed Under: 2010 Elections, Coming Events, Economics, RI General Assembly and Republican Party Closed

Boehner Hits Democrats’ Credibility on Wall Street Reform

Posted on April 27, 2010 by The Ocean State Republican

House Minority Leader John Boehner (R-Ohio) on Tuesday attacked the credibility of Democrats on financial reform.

Democrats can’t be trusted on financial reform because of their handling of other issues.

congressional Democrats and President Barack Obama lack credibility on financial reform because of what Boehner called failed promises about the economy, healthcare reform, and bringing down the deficit.

“We’re seeing a growing credibility gap here in Washington,” Boehner said. “Democrats are saying one thing and doing something else.”…

Read More: The Hill

Filed Under: Democrats, Economics and Republican Officials Closed Tags: Rep. John Boehner.

Guess Who’s the Real Party of Wall Street?

Posted on April 27, 2010 by The Ocean State Republican

This is a new ad by the National Republican Senatorial Committee (NRSC) which answers the question, “Guess who’s the REAL Party of Wall Street?”

Hint: It’s not ours.

Filed Under: 2010 Elections, Democrats, Economics and Republican Party Closed

The Perils of the Value-Added Tax

Posted on April 18, 2010 by The Ocean State Republican

When liberals advocate a value-added tax (VAT), conservatives should respond: Taxing consumption has merits, so we will consider it — after the 16th Amendment is repealed. A VAT will be rationalized as necessary to restore fiscal equilibrium. But without ending the income tax, a VAT would be just a gargantuan instrument for further subjugating Americans to government.

Adding a VAT without subtracting the income tax would constrict Americans’ freedom much more than the health-care legislation does. Because the 16th Amendment will not be repealed, adoption of a VAT would proclaim the impossibility of serious spending reductions and hence would be the obituary for the Founders’ vision of limited government…

Read More: The Washington Post

Filed Under: Economics, Government and Public Policy Closed

Rep. Mike Pences Laughs at Democrats on House Floor

Posted on April 15, 2010 by The Ocean State Republican

Congressman Mike Pence (R-IN) laughs out loud at the House Democrats claim that they’ve “cut taxes more than any other Congress in history.”

Filed Under: Democrats, Economics and History Closed

Westerly Tax Day Tea Party | April 15

Posted on April 8, 2010 by Rhode Island Red

Join the Westerly Tea Party and Tea Party Patriots of CT’s 43rd District for a lunch time Tea Party Protest of an OUT of Control State and Federal Government. The SPENDING NEEDS TO STOP!

TAX DAY TEA PARTY
Thursday, April 15th
12:00 NOON
99 Main Street
Westerly, RI 02891

Bring a sign, bring a friend and bring a donation for the Jonnycake Center’s Flood Relief Drive.

AM 1230 WBLQ will be broadcasting LIVE!

We will have an open mic and no pre-planned speakers, so if you have something to say… come and say it!

A bus will depart Westerly at 2pm to go to the Providence Tax Day Tea Party from 3 to 6pm. Go to www.riteaparty.net to reserve a seat and find out the details of all the bus stops.

Please visit http://www.westerlyteaparty.com for all the details and the latest news from the Westerly Tea Party.

Source: Westerly Tea Party

Filed Under: Coming Events, Economics and RI Tea Party Closed

IRS to Hire Thousands of Armed Tax Agents to Enforce Health Care Laws

Posted on March 23, 2010 by The Ocean State Republican

Finally, some action on job creation from the Administration!

Top IRS officials have been working with Democrats on Capitol Hill to determine how the agency will enforce President Obama’s new health care law. Republican lawmakers estimate the legislation will require the hiring of many thousands of new tax enforcement agents.

While it’s still not known exactly how many will be hired, here’s what’s clear: Under the new law, the IRS is required to fine taxpayers thousands of dollars if they do not purchase health insurance. In order for the government to enforce compliance, tax authorities will need information, for the first time, about people’s health care. Collecting that data will require more IRS personnel.

Consider what has happened in Massachusetts, which passed a similar health care bill in 2006. To enforce the individual mandate, the state’s Department of Revenue asks filers what kind of insurance they have, as well as details like whether their “sincerely held religious beliefs” are moving them to petition for an exemption from the requirement…

Read More: The Daily Caller

Filed Under: Economics, Healthcare Reform and Liberals and Leftists Closed

Text of Gov. Carcieri’s ‘State of the State’ Address

Posted on January 26, 2010 by The Ocean State Republican

This is the prepared text of Governor Carcieri’s final State of the State address, to be delivered at 7:00 PM this evening:

The Honorable Donald L. Carcieri
Governor, State of Rhode Island
State of the State Address – January 26, 2010

Mr. Speaker, Madam President, members of the General Assembly, my fellow General Officers, members of the Judiciary, distinguished guests, and my fellow Rhode Islanders. Before I begin tonight, if you’d indulge me, I’d like to take a moment to acknowledge the source of my inspiration, my strength, my motivation, and my comfort – and that’s my wife, First Lady Sue Carcieri, our four children and their spouses, and our fourteen grandchildren. Many of them are here tonight. Thank you for all your love and support.

Let us begin tonight by being mindful of the catastrophic earthquake that has ravaged Haiti. We are all in shock and disbelief, and our hearts break as we see the nightly images of the horrific devastation and loss of life. Those of us who have visited Haiti are keenly aware of the extreme poverty and hardship that so many Haitians endure on a daily basis. I know that Rhode Island is home to several thousand Haitians and that many other Rhode Islanders, both young and old, travel there to be of service to the people of Haiti. In fact, just a few days ago, members of the 143rd R.I. Air National Guard flew two of our transport planes to be deployed to assist Haiti. Tonight, we express our prayers and condolences to all those people who have been so profoundly affected. Please join me for a moment of silence in honor of those who have lost their lives so tragically in Haiti.

Thank you.

Ladies and gentlemen. As I stand before you tonight, our state is facing the most severe economic turmoil of the last 30 years, perhaps longer. This challenge cannot be overstated. We have over 73,000 Rhode Islanders out of work, with little sign that employment will improve significantly anytime soon. We all have neighbors who’ve seen their work hours reduced and their income diminished. They’re scrambling to pay their bills, while they watch their home values decline dramatically. They are substantially reducing their spending just to make ends meet.

Every business, both large and small, is reducing costs as they adjust to lower demand for their products and services.

They’re fighting for survival and trying desperately to keep as many of their workers employed as possible. Lay-offs are a last resort for a business because qualified, trained, and high-performing employees are what make a business successful.

In this climate, at this time, they expect their government at every level, federal, state and local — a government they pay for with their hard earned tax dollars—to reduce and control spending as well. As elected leaders, it is our job to deliver on that expectation—and I intend to do so! Continue reading ‘Text of Gov. Carcieri’s ‘State of the State’ Address’

Filed Under: Economics, Gov. Don Carcieri and Rhode Island Closed

Chafee: Leave Union Benefits Alone By Raising Taxes

Posted on January 13, 2010 by The Ocean State Republican

“THE OPPOSITE OF RIGHT PART V”

CHAFEE’S NEW WAY FORWARD – GENERAL ASSEMBLY VERSION:

At the Rhode Island House Finance Committee yesterday, Gubernatorial Candidate Chafee made it clear once again he is no champion of the property taxpayer but merely a politician who will grovel for the support of the public sector union bosses. He has officially broken his first promise of his new gubernatorial campaign, which was “to be a champion of the property taxpayer” and “a partner with our mayors and town managers … to repeal many of the costly state mandates on cities and towns.” Instead of siding with mayors and town managers in favor of reducing benefits through pension reform (i.e. a minimum retirement age) and a 25% co-share for health care premiums for public sector employees, he “urged” the House Finance Committee “to leave benefits alone” for public sector union employees (ProJo 1/13/10).

Without a doubt, Mr. Chafee does not want his mayoral legacy in Warwick of giving away the store to public sector union members to be tampered with in anyway. He is proud of signing union contracts that allows employees to retire with no minimum retirement age after only 20 years of work. (ProJo 7/29/96). He believes it was his “biggest achievement” as mayor to give public employees big raises while paying no co-share of their health care premium. (ProJo 5/3/94, 10/10/2000) He thinks it is “awesome” to give part time crossing guards “full benefits.” (ProJo 9/3/93) No doubt the public sector unions thought these kinds of these deals were “awesome” too. This is why “local unions were endorsing Lincoln Chafee’s 1998 City Hall reelection bid” and letters were being sent out to “municipal union members on Chafee’s behalf” as a “payoff for the years” Chafee “spent nurturing labor friendships in the state’s second-largest city.” (ProJo 10/10/2000). This is also why, in a prior mayoral campaign, after “Chafee helped the union with a good contract,” the American Federation of Teachers asked other unions to have “the favor be returned” by supporting Chafee. (ProJo 1/6/95).

Rhode Island Republican Party Chair Giovanni Cicione commented: “Mr. Chafee’s old three step plan has not changed one bit – give the public sector unions what they want, get the unions to support your campaign; raise taxes to pay for those sweetheart deals.”

“Mr. Chafee may not have any coherent plans to cut spending, but taxpayers can be certain he will not to cut the generous benefits of public employees – he seems to be going out of his way to protect these outrageous union benefits by raising taxes on groceries and medicine,” concluded Cicione.

Press Release: Rhode Island Republican Party

Filed Under: 2010 Elections, Big Labor, Economics and Republican Party Closed

Chafee: Tax Our Food and Medicine, Spend It On Fat Pensions

Posted on January 9, 2010 by The Ocean State Republican

“THE OPPOSITE OF RIGHT PART IV”
CHAFEE’S NEW WAY FORWARD

Within hours of the Mr. Chafee’s campaign announcement earlier this week, the Rhode Island Republican Party made it clear that Chafee’s ‘New Way Forward’ was really just his old three step plan as Mayor:

1. Give the public sector unions what they want;

2. Get the unions to support you; and

3. Raise taxes to pay for those sweetheart deals.

With each passing day, it is becoming clearer that Chafee is ready to raise taxes on anything, including basic necessities, in order to maintain the current generous benefits enjoyed by public sector union employees and win “the endorsement of organized public sector unions” (Warwick Beacon 1/5/10). Said RIGOP Chairman, Giovanni Cicione: “Our seniors and taxpayers don’t need the “Chafee Three Step.”

Mr. Chafee has unequivocally put the generous pensions of “current public employees” off limits to any reform efforts even if it would reduce the cost to taxpayers (ProJo 1/7/10). This makes it clear that Mr. Chafee is more willing to play ball with the public sector labor bosses than even the R.I. House Democratic leadership. Even though the House Democratic leadership has unfortunately put 401k plans for government employees off the table (ProJo 1/4/10), they at least supported some of the Governor’s pension reform efforts which affected current public employees and saved taxpayers millions. (09-H5983Aaa Article 7 House Journal 6/24/09, and 05-H5270Aaa Article 7 House Journal 6/27/05).

“It appears Mr. Chafee thought that these pension reforms went too far since they affected current public employees,” said Cicione. “As a former mayor, Chafee should really have a better handle on the impact of pension handouts and long term municipal budgeting.” “Without reasonable concessions from all state and municipal employees on pensions, cities and towns across the state will face bankruptcy or higher taxes.”

“It appears that Mr. Chafee is not at all serious about reducing government spending,” concluded Cicione. “Simply put, under Chafee’s “New Way Forward”, a 70 year old on a fixed income would have to pay higher taxes on their home, their medicine, and their food in order to subsidize the lifestyle of a 40 year old retired city worker – that’s just wrong.”

News Release: Rhode Island Republican Party

Filed Under: 2010 Elections, Economics and Liberals and Leftists Closed

Married? You’ll Pay More Under ObamaCare

Posted on January 8, 2010 by The Ocean State Republican

(Told You So.)

Some married couples would pay thousands of dollars more for the same health insurance coverage as unmarried people living together, under the health insurance overhaul plan pending in Congress.

The built-in “marriage penalty” in both House and Senate healthcare bills has received scant attention. But for scores of low-income and middle-income couples, it could mean a hike of $2,000 or more in annual insurance premiums the moment they say “I do.”

The disparity comes about in part because subsidies for purchasing health insurance under the plan from congressional Democrats are pegged to federal poverty guidelines. That has the effect of limiting subsidies for married couples with a combined income, compared to if the individuals are single…

Read More: The Wall Street Journal