more media browsing

5/31/2011

Okay, I left you dangling and twisting yesterday in the high winds when I closed with a cryptic reference to the Internal Revenue Service's (to quote Michael Barone from realclearpolitics.com)
"Attempt to levy a gift tax on donors to certain 501(c)(4) organizations that just happen to to have spent money to elect Republicans. A gift tax is normally assessed on transfers to children and other heirs that are designed to avoid estate taxes. It has been applied to political donations 'rarely if ever' according to New York Times reporter Stephanie Strom... 'The timing of this agency's moves, as the 2012 election cycle gets under way' continues Strom, 'is prompting some tax law and campaign finance experts to question whether the IRS could be sending a signal in an effort to curtail big donations.' ".....The Watseka Tea Party analysis of this story: We're well advanced on the road to serfdom, if we don't resist to the utmost these leftists who don't care- in fact mock- expressions of majority thinking. George Orwell, call our office... The good news abounds: A Chicago Tribune editorial of 5/26/11 provides us with the analysis of Illinois treasurer Dan Rutherford, a benighted resident of central Illinois, a curious place where fiscal sanity and- can you imagine, even basic arithmetic?- are somehow relevant! Quoting the Tribune story: "Rutherford first calculated that the pols who run Illinois have amassed nearly $200 billion in debt. That includes some $45 billion in bond debt, $8billion in unpaid bills, and $140 billion in unpaid pension and health care benefits for public employees. Every household in Illinois owes $42,000. Don't get us started on your share of the debts run up by your prolifigate local and federal governments. "
.... Any reason for despair? No, residents of Illinois! The fiscal future is looking so bright, we're advising you to wear shades - sun glasses. Your governor, over the course of the Memorial Day weekend, was hoping to add more borrowing and spending to the Illinois budget.