Author: coastcontact

I am a somewhat cranky but mostly optimistic 65 plus who refuses to give up on this maddening world. The purpose of this BLOG is to express my feelings, thoughts.

Romney Didn’t Make the Sale

Larry Kudlow, Finance guru and TV host on CNBC, says so!

You have probably seen Larry Kudlow on television.  He is a well educated and well spoken finance expert that is hard to ignore.  He is the opposite of Jim Cramer.  Mr. Kudlow provides his own opinion along with interviews with many really smart guests.  Kudlow’s doubts are my doubts.

In summary here is the gist of his post on townhall.com.

Did Mitt Romney make the economic sale at the Republican National Convention? Did he convince people who are living at the margin or unemployed and discouraged that he has the answers to the economy? Frankly, I don’t think so.

he (Mitt Romney) did not talk about his 20 percent across-the-board personal tax cut plan that would help the middle class enormously. He never mentioned it, and he went into no detail on the business tax cut plan.

He talked about a jobs tour. I frankly have no idea what a “jobs tour” is.

I didn’t hear anything new. I didn’t hear anything specific, and it troubles me.

ON BIG BUSINESS: I think he needs to be more specific. It’s not about big business — it’s really about small business.

A Trip to Europe

We, my wife and I, left for London England on August 21 for our holiday to London and Paris. It was not the same as going on a safari but since we had never traveled to Europe before this was a special event in our lives.

While the trip did not take us away from civilization it did educate us on the way others live in their cities. We did not suffer from any cultural shock. Western Europe is really very similar to the USA. America’s roots are based upon European culture and behavioral differences are minor.

The single prominent difference is the presence of Muslims. That is fact is enforced by the high number of woman dressed in burqas. Since France introduced its burqa ban in April there have been violent attacks on women wearing the niqab. Niqab is the term used to refer to the piece of cloth which covers the face, worn by some Muslim women.

 Still in Paris, women are wearing the burqa without the niqab as they walk down the Champs-Elysees. That is not the case in London, where all manner of dress is seen.

In the next few days I will be retelling more details of our trip.

In summary it was an extraordinary experience. I am grateful to have had the experience.

From London

It’s a 13 hour air flight from Los Angeles, California to London, UK.  It’s a first for my wife and me.

We are across Oxford Street at the Marble Arch.  The bus service is astonishing.  Los Angeles has a lot to learn.  Despite all the talk of austerity the streets are  not falling apart.  The city is clean.  The people are friendly.

However, the cost of one hour on  the net is 6 British Pounds.  Photos from the cameras will be posted in September.

Special Income Tax Rates for the Very Wealthy

Everyone should be taxed at the same rate. There should be no deductions or allowances for any thing!

Steve Rattner, President Barack Obama’s former car czar, appeared on Fareed Zakaria’s GPS a few week ago. (Steven Rattner is Chairman of Willett Advisors LLC, the investment arm for New York Mayor Michael R. Bloomberg’s personal and philanthropic assets.) Mr. Rattner said that one of the reasons Mitt Romney won’t release his income tax returns is his legal but highly unusual asset protection.

Romney has a $100 million IRA and off shore accounts that avoid US income tax. Rattner pointed out that many rich people pay income tax at the 35% rate while there is a group that pay at the much lower rates. Rattner said he didn’t think the American people would be too happy with this situation. I certainly am not happy!

There is always going to be a very rich part of this society. I don’t know the reason but it was confirmed by Vilfredo Pareto (15 July 1848 – 19 August 1923). He made several important contributions to economics, particularly in the study of income distribution and in the analysis of individuals’ choices. The Pareto principle was named after him and built on observations of his such as that 80% of the land in Italy was owned by 20% of the population. Today in the USA 85% of America’s wealth is owned by 20% of the population (quite close to Pareto’s 80-20 theory).

What I do not accept is the idea that the wealthiest among us pay 15% in income taxes.

This is nothing about Jealously.  This is about fairness.

There is no question that rich people spend more money on stuff. The question is: Should rich people whose earnings are the result of investments be taxed on their income at 15% (or less if Paul Ryan has his way) than people whose earnings are based upon a salary?

Personally I believe everyone should pay income taxes at the same graduated rate no matter what the source of the income. No one should be given any allowances or deductions for ANYTHING. You want a wife, more kids – go for it – just don’t expect any help from the government.

Ariel The Little Mermaid Gets Plastic Surgery In Questionable New Ad (PHOTO)

This from Huff Post Style is mild compared to the pornographic takes on many cartoon characters.

Surely a Disney princess, she of the impossibly bouncy hair and whittled waist, doesn’t need any work done, right?

Well, don’t ask a plastic surgeon that, because apparently, the iconic Little Mermaid was a prime candidate for few procedures (OBVIOUSLY! She’s such a hag.) BuzzFeed’s Copyranter spotted this ad from Clinica Dempere, a plastic surgery center in Venezuela, who decided to give Ariel the old nip and tuck anyway in a new spot for their services.

Watch as Ariel escapes from the evil Ursula. What does she do next? Beelines it to the operating table, where, sprawled out before a beckoning surgeon, she gets her wishes granted without giving away her magic voice box.

So, what procedures did the Little Mermaid opt for? She seems to have gotten the full “Real Housewives” treatment with a boob job and a widened pout. And somehow, the doctors in Venezuela managed to sculpt a pair of sexy human legs outfitted with stilettos out of her mermaid tail. It’s so magical!

While people have tried to digitally slim down other “Mermaid” characters in the past, the introduction of cosmetic surgery into the pot is definitely an even more somber message to young girls. The clinic’s ad is surely an attempt to be cute, but seriously, Ariel: you look great under the sea as is.

PHOTO:

Ariel The Little Mermaid
Ariel The Little Mermaid

Bill Kristol, Fox News Pundit, Questions Tax Cut for the Wealthy

Back in 2001 and 2003 President George W. Bush pushed his income tax reduction laws through Congress.  The theory behind those tax reductions was the government was running a surplus and the economy needed a boost.  What was the result?  Higher net income for business and the loss of American jobs to China, India, and other nations.  The result is that business leaders tell the American people we are no longer a manufacturing society, we are now a service society.   Those services translate to lower paying jobs for the middle class.  What middle class?  Those jobs are the jobs of the poor!

Even Bill Kristol is now questioning the idea of even lower taxes for business.

By Igor Volsky of Think Progress on Aug 11, 2012 at 3:42 pm

Bill Kristol, who had predicted that Mitt Romney would name Paul Ryan as his vice presidential running-mate, expressed some concern Saturday morning that Republicans may have a hard time defending the GOP budget, which disproportionately cuts taxes for the rich.

“It’s the tax cuts for the wealthy, where Republicans have not done a particularly good job of defending it and I think you’ll see Democratic attacks focus on that side of the equation,” he said. The Wall Street Journal’s Stephen Moore agreed, but noted, “who’s better to defend those policies that Paul is, I mean he knows this stuff better than anyone.”

Paul Ryan’s infamous budget — which Romney embraced — replaces “the current tax structure with two brackets — 25 percent and 10 percent — and cut the top rate from 35 percent.” Federal tax collections would fall “by about $4.5 trillion over the next decade” as a result. To avoid increasing the national debt, the budget proposes massive cuts in social programs and “special-interest loopholes and tax shelters that litter the code.”

 But 62 percent of the savings would come from programs that benefit the lower- and middle-classes, who would also experience a tax increase. That’s because while Ryan “would extend the Bush tax cuts, which are due to expire at the end of this year, he would not extend President Obama’s tax cuts for those with the lowest incomes, which will expire at the same time.” Households “earning more than $1 million a year, meanwhile, could see a net tax cut of about $300,000 annually.”

China is Invading North America

Will the presidential candidates talk about this?  Probably not!

China does not have an army off the coast of North America deciding what date an invasion will occur.  They do have the financial ability to impact the United States in a most unfavorable way.

The Chinese are in a search for needed natural resources and they will go almost anywhere to obtain access.  On  of their most recent foray has been in Australia where they are mining iron ore. Many Australians  aren’t happy about this situation.  Money talks louder than feelings.

Now China sees an opportunity to obtain oil from North America.  Not in the United States, rather in Canada. Canada is Not Part of the U.S.A.  Canada has significant tar sands oil in Alberta and has wanted to ship their oil to Louisiana for processing and sale.  Since the United States has been saying No to building the Keystone XL pipeline the Canadian government is looking for another path.

As reported in Businessweek and the Washingon Times, CNOOC (a Chinese government controlled oil producer has agreed to pay $15.1 billion for Canada’s Nexen.  Chinese companies hasve spent over $53 billion in Canada over the past decade. This new deal gives CNOOC access to oil and gas fields in the North Sea, the Gulf of Mexico, and Nigeria, as well as the oil reserves in Alberta.

The likelihood of building the Keystone XL pipeline has been diminished.  This new deal with  CNOOC will make Canada even less dependent on the U.S. as a primary customer for its oil and gas.