US to open 3.9m acres in Alaska for drilling

It's a measure of power output of jay-z per unit of jay-z

 

It is all about a new direction.

In 2005, the US dropped the corporate tax rate to 13.5% on being able to bring over-seas profits back into this country. Without the huge 35% tax rate, US corporations brought in 343 Billion dollars of resource capital. A tax rate that still managed to bring in about 18 billion dollars of new taxes in spite of the Democratic prediction that it would only bring in about 3 billion.

Before Pelosi took over, the unemployment rate was at 4.9% and the price of a gallon of gas was $2.05.


Pelosi promptly grew some ( $ $ ) in her eyes and promptly revived the 35% overseas corporate tax rate on money brought back into the country. Now we are hitting a steep slope... The Dems want to tax more... McCain wants to once again lower the overall corporate tax structure to infuse some fresh capital into the economy which is badly needed.

The main ways you can logically vote for a Democrat in this election is if you can't work because of physical reasons, or if you don't want to work and still want free healthcare, or if you simply don't give a crap about this country.

 

A tax cut is not a solution to every problem but a tax cut along with restraints on government spending is a solution for many problems. Unfortunately, the republicans only got it half right when they controlled congress. Now that the democrats control congress the situation is not getting any better.

 

I don't think this announcement had any effect on the price of oil. Maybe a little bit. Congress recently had hearings on the effect of speculators, and the "experts" on the panel testified that if congress passed legislation to clamp down on the speculators, oil would drop to 70 a barrel. Fear of that happening (legislation) could be putting a damper on.

Dr. John Hussman ( www.hussmanfunds.com ) has said he expects $60 oil by Jan. 2009 as the recession cuts demand.

We saw this in the 80's. Oil at 35 crashed down to 12. Gas mileage mandates, turnover of the auto fleet to more efficient cars, high prices forcing conservation, it all kicks in and damps down demand. Then, there was no new demand coming from India and China like we have today, so nobody knows exactly how it will play out.

 

Chip, just a forewarning that I will be plagiarizing the hell out of this post for the next 4 months. Best summation I have seen of these candidates and issues yet.

 

Because two things happened in sequence does not necessarily imply a cause and effect relationship. What do you think Pelosi did or failed to do, that directly contributed to gas doubling from 2 to 4 per gallon? The republicans held the presidency, the house and the senate from 2001 to 2007, the six years prior to Pelosi becoming speaker. Cheney chaired the big dog republican energy policy pow wow in Washington back in 2001. They actually had time to do something. But they did not. How exactly is this on Pelosi in 18 months?

Didn't the all republican administration raise the national debt irresponsibly, crater the US dollar, cut taxes and raise spending (cratering the dollar), provide tax subsidies to corporate america that encourage offshoring our jobs to China and India? Well, yes they did.

The US govt. does not drill for oil. Big oil drills for oil. They have a roll in this also.

I don't have a problem with reducing the tax to get the money back in the US, as it provides a stimulus to the economy. I also don't have a problem with corporations paying some taxes.

Depends which end of the horse you look at.

The republicans have BADLY mismanaged the budget deficit, running up the biggest 8 year deficit in history, by a LARGE MARGIN. They cratered the US dollar, cut in half against the euro in 8 years, which is pathetic and causes price increases in ALL IMPORTED GOODS, and causes INFLATION, which is now a problem for the first time in 25 years. This a part of the problem with high gas prices. They have put us in an expensive war in Iraq, cost a trillion dollars contributing to the deficit and weakening the dollar, got 4,000 great americans killed and 30,000 wounded half of which cannot return to duty, all on over stated threats which they bumped up to sell the war to the american people. I refer you to Scott McClellan, a Bush friend for years, who came out and said just that, that the Bush administration was misleading the american people in going into Iraq, marketing the war. No, he's not a dem, he's an administration insider and FRIEND of Bush from the Texas days, and he's just disgusted by his friends administration and their lying. The repubs passed a $500 Billion dollar 5-year prescription drug plan without a tax increase to pay for it, increasing the deficit and gutting the dollar. They have just been pathetic for the nation. I have never seen such fiscal irresponsibility nor gross incompetence. Bush is the worst president in my lifetime, moving Carter down to number 2 on the list. If you think I'm a dem, you are wrong. I'd still put Reagan as the best, despite his flaws (everyone has flaws). Really, I'm an independent, but I call a spade a spade. And I didn't get to corruption in the republican congress, with Duke Cunningham and Jack Abramoff and the gay pedophiles.

The republicans (Greenspan, lifelong repub) held interest rates too low too long, fed funds rate at 1% in 2003 and 2004, years after the 2001 tax cut, and years after the 2003 tax cut. Why? The recession was officially over in 2001. Reason, the tax cuts didn't work to stimulate the economy, and Bush was going down to defeat. You can thank that little piece of irresponsibility for its part in the housing bubble.

And what about their shameless expansion of the money supply? It's so bad that they stopped publishing M3 money supply figures for the first time in my lifetime, out of pure shame. Just another example of covering up their fiscal irresponsibility, so you can't pin another source of inflation on the republicans, but it is their fault. It's how they let the inflation genie out of the bottle. Go look it up, google on "government stopped reporting M3" and see. Can you think of a fiscally responsible reason to take that action?

But don't worry, the CEOs of the defense contractors (military industrial complex) came out GREAT, as did the big oil CEOs, and the drug company CEOs. The little guy's standard of living is falling precipitously, from higher fuel prices, higher groceries, higher health care costs, higher college tuition, higher inflation generally, while wages have stagnated, and you could be losing you house due to lack of regulation of the mortgage and banking markets.

If you think the dems are so bad, I'll refer you to the Clinton presidency, where he raised taxes on the rich, produced great economic growth, balanced the budget, had a strong USD with low inflation and stable energy prices for his 8 years.

Let the whining begin.

 

Never stop looking for an alternative. To begin production in India. Not a chick magnet however...

The compressed air automobile.
http://www.popularmechanics.com/automotive/new_cars/4251491.html?series=19

 

1000-mile range at 96 mph!

I'm stocking up on air compressors now. :hihi: