Friday, May 15, 2009

Instant (Economic) Karma is Gonna Get Ya !

Based on a few current events, it looks as if we are not going to have to wait until 2012 to debate the merits of Barack Obama and the Democrat's economic policies. Those "chickens have come home to roost" let's see if liberal politicians are any smarter than the aforementioned flightless birds. From the Baltimore Sun:

One of Maryland's budget-balancing tactics - asking millionaires to pay more money to the state - appears to be backfiring as the number of the highest-earning taxpayers dwindles...

But as the state comptroller's office sifts through this year's returns, it is finding that the number of Marylanders with more than $1 million in taxable income who filed by the end of April has fallen by one-third, to about 2,000. Taxes collected from those returns as of last month have declined by roughly $100 million.

The revenue figures are ugly," Franchot said in an interview. "Right now, we're digging through a pile of tax returns and trying to understand this."

Sorry to insult the intelligence of the common chicken. Tax analyst Karen Syrylo gets it, though:

"Maryland is such a small state, and it is so easy to move a few miles south to Virginia or a few miles north to Pennsylvania," Syrylo said. "So there are millionaires who are no longer going to be filing Maryland tax returns."

Wait until they all move to Canada. Speaking of which, our ham-fisted bumbler of a president, who promised to "improve" our relationships with the international community, seems to have infuriated our peaceful northern neighbor - and it could cost us billions:

Ordered by Congress to "buy American" when spending money from the $787 billion stimulus package, the town of Peru, Ind., stunned its Canadian supplier by rejecting sewage pumps made outside of Toronto. After a Navy official spotted Canadian pipe fittings in a construction project at Camp Pendleton, Calif., they were hauled out of the ground and replaced with American versions.

Outrage spread in Canada, with the Toronto Star last week bemoaning "a plague of protectionist measures in the U.S."... This week, the Canadians fired back. A number of Ontario towns, with a collective population of nearly 500,000, retaliated with measures effectively barring U.S. companies from their municipal contracts -- the first shot in a larger campaign that could shut U.S. companies out of billions of dollars worth of Canadian projects.

Looks like we won't have to wait until 2012, as the wreckage of the Demcoratic economic policy is accumulating all around us, no matter how desperately and transparently Obama tries to lie his way out of it (who coaches him, Nancy Pelosi?). As you step over the economic rubble of America to vote in the 2010 elections, it won't be hard to remember who piled it all up for you...

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