Despite talking points, the IRS did NOT target Progressive groups

Our audit did not find evidence that the IRS used the “Progressives” identifier as selection criteria for potential political cases between May 2010 and May 2012…

The inappropriate criteria used to select potential political cases for review did not include the term “Progressives.”

From,
J. Russell George
Treasury Inspector General for Tax Administration
June 26, 2013

Full letter here.

The Democrats’ attempt to make the IRS corruption appear apolitical is worse than the original crime, “We know they did it, but we don’t care.”

#youdidntbuildthat Subsidies required to meet government mandates

BMW CEO Orren Boyle James Taggart Norbert Reithofer says that Germany’s goal of having a million electric cars on German roads by the end of the decade will require the government to enact subsidies in the form of tax incentives. It brings to mind Solyndra, A123, General Motors and others. Especially General Motors.

The struckthrough names are fictional. James Taggart and Orren Boyle are obsequious, scheming crony capitalists in Ayn Rand’s Atlas Shrugged.

Taggart’s railroad is failing because he is incompetent, but the government is there to help:

Empty trains clattered … They carried a few carloads of sheep, some corn, some melons and an occasional farmer with an overdressed family, who had friends in Washington. Jim [James Taggart, President of Taggart Transcontinental Railroad] had obtained a subsidy from Washington for every train that was run, not as a profit making carrier, but as a service of “public equality.”

Later, in a meeting with a Federal Czar*, who is hammering out a series of edicts designed to seize complete control of the economy, Taggart and Boyle have this exchange:

“It is not essential whether you can afford it or not,” Taggart said coldly. “You have to be prepared to make some sacrifices. The public needs railroads. Need comes first – above your profits.”

“What profits?” yelled Orren Bole. “When did I ever make any profits? Nobody can accuse me of running a profit-making business. … But, of course, the public does need railroads, and perhaps I could manage to absorb a certain raise in rates if i were to get – it’s just a thought – if I were to get a subsidy to carry me over the next year or two…”

*Wesley Mouch, Co-ordinator of the Bureau of Economic Planning and National Resources. See Atlas Shrugged Chapter VI, from the start, for the meeting minutes.

Government Motors: Morally Hazardous…

… to the Rule of Law; to the economy; to taxpayers; to shareholders.

This is not Capitalism, it is Fascism. Capitalism actually requires that bad companies be allowed to fail. And their assets, or lack thereof, cannot appear on a government balance sheet.

“It looks like General Motors will be throwing everything in but the kitchen sink to help fluff its second quarter earnings numbers. Taxpayers continue to help with the cause as President Obama campaigns on the “success” of GM following the manipulated bankruptcy process that cost taxpayers $50 billion and another $45 billion of tax credits gifted to GM to help protect powerful UAW interests. We now learn that government purchases of GM vehicles rose a whopping 79% in June.

And the old channel stuffing trick has been revived to inflate “earnings.”

“Old habits die hard at GM. According to a Bloomberg report, “GM said inventory of its full-size pickups, which will be refreshed next year, climbed to 238,194 at the end of June, a 135 days supply, up from 116 days at the end of May.” 135 days supply is huge, the accepted norm is a 60 day supply. The trick here is that GM records revenue when vehicles go into dealership inventories, not when actually sold to consumers.”

There’s now a shareholders’ class action suit filed because of that.

Who’da thunk there would be political motivation to maintain the illusion that UAW/Federal joint-ownership of a car company was a good idea? In an election year yet… from the most transparent Administration ever to preen before a mirror.

Mitt Romney, along with many others, was right: GM should have gone bankrupt.

The Clown the Cop and the Clown

New York Times blogger Timothy Egan, in a post titled The Clown and the Cop, attempts to demonstrate why “Tea Party” types are ignoramuses whose priorities are fatally skewed because of addiction to FOX News. Instead, he demonstrates over-immersion in the Statist echo chamber, and reveals a general allergy to principle.

The first Clowns of the title are GSA employees who dropped nearly a million dollars on a party in Vegas. The Cop is the guy the GOP wants to “put on the street,” and not in an employed way. In between there’s mention of a $642 billion dollar defense appropriations bill (“$8 billion more than the Defense Department asked for.“).

These introductory themes are somewhat loosely coupled by Egan’s disdain and blind faith.

  • Disdain for the GOP’s hatred of public employees in general, and Mitt Romney’s deplorable views in particular.
  • Blind faith that Barack Obama is not responsible for anything that happens on his watch.

Oh, and there’s a slap or 3 for FOX News – really for anyone possessed of the temerity to disagree with the NYT narrative.

Egan: [M]ost people are unaware that the Republican majority, the same politicians who rode into office in 2010 (on a pledge of not spending beyond our means, voted to run up the deficit last month on behalf of those parochial projects.
The Republican majority?  Egan is apparently unaware that the Democrats control the Senate and the White House as he writes, and in 2010 also controlled the House, where they, like the Democrat Senate, were busy not passing budgets.

Egan: “[Obama] has been stymied by a Congress that wants to end his presidency by sabotaging the economy”
The Democrat majority Senate has a poor record in resisting this sabotage. It voted 0-0 for a budget in 2010 (no budget was considered in the Democrat House or Democrat Senate). The president’s proposed budgets were defeated in the Democrat Senate 97-0 (2011) and 99-0 (2012). The Democrat Senate has not performed their legal budgetary responsibility since April of 2009. 

The president has tried to kill the Keystone pipeline, encouraged the EPA to classify carbon dioxide as a pollutant (Obama’s stated plan was that electricity rates “would necessarily skyrocket”), conducted withering class warfare against job creators, wasted tens of billions picking “winners” like Solyndra, and made investors wary by demonstrating his willingness to ignore the rule of law: The 100% loss he decreed for GM and Chrysler bondholders, the shipment of firearms to criminals in another sovereign state and subsequent coverup, and suspension of immigration law in defiance of Article Two, Section 3, Clause 4 of the United States Constitution, to name but three.

Egan: “Obama is a relative miser on the [spending] growth chart”
Only because the baseline jumped so high with TARP – which the tea party opposed.  Obama, in 3 years, has run up a deficit – on top of TARP as a baseline – greater than the combined previous deficits since 1787.

Egan: on Romney “We have 145,000 more government workers under this president,” Romney said in Colorado last month. “Let’s send them back home and put you back to work.”

Again, this is simply not true.
There are, in fact, 145,000 more Federal government employees.  (You have to go to the 4th from last paragraph, that is an ABC report, after all. It’s amazing they even noted it.)

Those 145,000 are the ones under president Obama. Egan disingenuously counts local and state government employees, and though that’s on whom the vast majority of the stimulus money was spent, it is not what Mr. Romney was talking about.

And while I know “The private sector is doing fine,” Mr. Egan might further have noted that job losses run 11 to 1 against the private sector – 11 private sector jobs lost for every 1 government job lost, even when you consider those state and local employees.

Mr. Egan’s general ignorance of principle, however, is his largest failure. He does not know that the clown and the defense department are of equal importance, because it is not the amount of money that is the point.  It’s the venality on steroids, and in-your-face disrespect for the rule of law that are at issue for this administration. For example.