The “Bain Report” Articles that Affect You and Your Family for Monday, September, 12, 2011

The “Bain Report” is a weekly publication for those citizens of Michigan who are concerned with the representation they are receiving from their elected officials. The purpose of this report is to educate and inform the citizens with pertinent articles and legislation that affect the family’s of Michigan. If you or anyone you know wishes to receive the “Bain Report” reply to rabman13@aol.com with add me to the weekly “Bain Report” in the subject line with your name and e-mail address in the body. Your email will be added to the list of those Patriots, Activist, and Concerned Citizens here in Michigan who receive the “Bain Report” published every Monday. For those currently receiving the “Bain Report” and wish to be removed from these mailings please reply to above e-mail address with remove me from your list in the subject line.

Opinion By R. Al Bain

While some economists predict that there is a 60 percent probability that the United States will fall into a second recession, most Americans especially here in Michigan don’t believe we ever came out of the last one! Some economists and our glorious elected leaders feel we need to do massive stimulus, otherwise there’s going to be another Great Depression. Didn’t they try that approach in 2008 with the same scare tactics that didn’t work? So we’re going to double dip earlier. The climax of it could be 2013, or it could be already earlier.

Bailing out the Banks, Wall Street, and Insurance companies did not and will not help the average American citizens only the politicians who receive campaign donations and other perks from these entities who received these bailouts! If lenders would reduce all underwater mortgages to their current market value, the nation’s banks could pump $71 billion per year into the economy, create more than 1 million jobs annually and save families up to $6,500 per year on mortgage payments.

Fixing the Housing Crisis Will Create One Million Jobs,” homeowners are struggling to pay their “boom-era mortgages with their recession-era salaries” and the economy is suffering for it. “Writing down the principals and interest rates on all underwater mortgages to market value would serve as the second stimulus that America so desperately needs, only without added costs to taxpayers.” This type of plan says that the money that homeowners would save on their mortgage payments each month would be spent instead on groceries, clothing, and household necessities. As consumer demand increased, businesses would start hiring again.

Another option would be to send meaningful stimulus checks directly to the taxpayers. While this would be complicated it is doable. An example as to help the middle class and stimulate the economy including job growth, increased consumer spending (the economic engine that drives our economy) would be to send these checks for tax filers who received less than say a $15,000.00 return on their previous year tax return. This eliminates those 47% who either do not pay taxes or get most back through generous deductions or hidden assets and write downs.

This would supply the middle-class with much needed revenue as to pay down mortgages, credit card debt, and open up a revenue stream for those individuals who may then be in a position to purchase such consumer products as Washers and Dryers, Stoves and Refrigerators, Big Screen Televisions, New Automobiles, and a host of other big ticket items that would drive the economy and create jobs!

36 percent of all so-called taxpayers actually pay zero in income taxes after taking their credits and deductions. But these figures don’t include some 15 million people who work but don’t earn enough to file a tax return. When these people are added to the non-payers, estimates the Tax Policy Center, the percentage of households who don’t pay income taxes rises to 47 percent. So sending a stimulus check directly to those taxpayers who qualify under the above scenario would be substantial as to drive our economy.  

Michigan Government Continues to Grow with New Education Authority
Governor Rick Snyder announced recently a broad new plan to create a state-run educational authority. While the education of our children should be a top priority with improvement to the educational system, this approach may not be the answer in many way’s. A recent report suggests that states will continue to have budget shortfalls for years to come with less federal government funding coming in and the loss of tax revenue due to job loses and high unemployment. To create more government such as this program will only add to the problem. The country is broke, the state is broke, the taxpayers are taxed to the hilt already and they are the one’s who will ultimately pay for this new government entity.

This “New Education Authority” will have an 11 member board plus a new chancellor that was just hired to oversee Michigan’s troubled schools. The first chancellor of the new statewide special district for Michigan’s lowest-performing schools could receive more than $1.5 million in salary and bonuses over his four-year contract, if he meets all performance targets. For his first year, he will be paid $225,000 and collect a $175,000 signing bonus. The base salary increases to $325,000 the second year. For the last two years, he can make an incentive-compensation payment of $50,000 to $100,000 per year. He’s also eligible for a raise in years three and four. The contract also includes a retirement plan with immediate vesting, a $15,000-per-year supplemental insurance allowance for life and disability coverage and an $800-per-month car allowance.
http://www.freep.com/article/20110830/NEWS01/108300375/John-Covington-could-make-1-5M-overseeing-district-Michigan-s-troubled-schools?odyssey=nav%7Chead

Former Chairman of the Michigan Education Committee – Legislator to resign from the House
Michigan citizens loose with Rep. Tim Melton former Education Committee Chair resigning from the House. As Education Committee chair, he and his then-Senate counterpart, Education Committee Chairman Wayne Kuipers, R-Holland, drove the bipartisan agreement on “Race to the Top.” The package included measures to identify the state’s lowest-achieving schools and turn them around, raise the legal dropout age to 18, expand charter schools, certify nontraditional teachers, provide for merit pay and use student progress as a yardstick in evaluating teachers. As a Democrat he shows more conservatism in the above statement than current Republican Senate Majority leader Randy Richardville on many of the education issues. See examples below 

2009 Senate Bill 926: Limit charter school expansion
Richardville voted in favor of limiting charter school expansion which is now Public Act 203. By limiting charter school expansion this Bill limits the choice parents have in a better education for their children. Most current charter schools have extensive waiting list. Continuing to reward failing public schools takes away funding for those schools which are achieving such as charter schools. An example between failed public schools and charter schools in Detroit the graduation rate in it’s public schools is 32% compared to Michigan Senate candidate Clark Durant’s Cornerstone charter school which has a 95% graduation rate. The Senate Fiscal Agency’s analysis of this Bill will impose a cost to the state up to $66 million. Compare this to the subsidized grants or rebates to Hollywood producers currently at least $100 million which is one of the reasons why dollars for classrooms are being cut.
http://www.michiganvotes.org/RollCall.aspx?ID=427623

2010 Senate Bill 1076: Lower compulsory school attendance age to 16
http://michiganvotes.org/2010-SB-1076

2009 Senate Bill 757: Reduce high school graduation standards (Senate Roll Call 229)
http://www.michiganvotes.org/RollCall.aspx?ID=492555

2009 Senate Bill 638: Revise teacher tenure provisions (Senate Roll Call 643)
Richardville was one of only 4 Republicans who voted against the Bill to revise the “teacher tenure” law to allow a teacher to be fired or demoted for consistent ineffectiveness.
http://michiganvotes.org/RollCall.aspx?ID=426124

2009 Senate Bill 747: Allow College Kids to Carry a Weapon on Campus
Introduced by Sen. Randy Richardville (R) on August 19, 2009, to remove college and university campuses from the “gun-free zone” provision of the concealed pistol permit law. Under current law, a person can get a permit to carry after meeting background check and training requirements, but is still prohibited from carrying a pistol in schools, day care facilities, sports stadiums or arenas, bars, bar/restaurants, places of worship, college dorms and classrooms, hospitals, casinos, entertainment facilities that hold more than 2,500, and courts.
http://www.michiganvotes.org/2009-SB-747

GOP Power Broker Puts Out Poll Numbers Favoring Hoekstra
Pete Hoekstra’s web site for Senate issue’s press release that say’s he is heavily favored in recent polling. PUBLIC POLICY POLLING list contact information for none other than Michigan Republican Party power broker John Yob of the Yob family long time kingpins of the Michigan Republican Party. These numbers and this poll is an attempt to move voters to the Hoekstra candidacy and nothing more! If you read any of the comments on any of the articles in any publication you will clearly see Hoekstra is not the choice of Michigan citizens. It’s time for Pete to give it up he’s done enough damage for Michigan and our Country after 18 years of diservice.
http://hoekstraforsenate.com/press-releases/2011-08-10/new-poll-78-michigan-republicans-support-hoekstra-gop-senate-primary

Gov. Snyder endorses Hoekstra in Senate race against Stabenow
This just shows exactly how broke the Michigan Republican Party is! Snyder said Hoekstra is needed in the Senate to fix a “broken” Washington. Wasn’t he there for 18 years and was part of the problem? I would say so! Hoekstra said “it’s not about being a Washington insider and Washington outsider,” but about who can be the most effective lawmaker. It sure ain’t him! “Clearly I understand how Washington works,” he said. “I can be a catalyst for bringing change.” Where were these changes while he was there? Getting the support of Michigan voters will require more than the governor’s endorsement of a “congressman-turned-lobbyist.” The Special Interest and Lobbyist has been part of the problem! Another red flag is that Pete Hoekstra called current Senate Majority leader Randy Richardville a principled conservative in the 2010 election campaign cycle which according to his voting record, like Pete’s, is the farthest from the truth!
http://www.detnews.com/article/20110829/POLITICS02/108290369/Gov.-Snyder-endorses-Hoekstra-in-Senate-race-against-Stabenow

Michigan Train Station with 78 Daily Riders Gets $1 Million in Stimulus Renovations
The Jackson Amtrak station will get $1 million in renovations thanks to the American Relief and Recovery Act (the federal stimulus program), according to the Jackson Citizen Patriot. But Wendell Cox, a transit consultant in St. Louis, Mo., questions why an Amtrak station with 78 customers a day would warrant such an expense. Sounds like a waste of taxpayer money to me like the Woodward Corridor Train being proposed!
http://www.michigancapitolconfidential.com/15636

Are “Green Jobs” the Answer? Not a Chance!
A study released in July by the non-partisan Brookings Institution found clean-technology jobs accounted for just 2 percent of employment nationwide and only slightly more — 2.2 percent — in Silicon Valley. Rather than adding jobs, the study found, the sector actually lost 492 positions from 2003 to 2010 in the South Bay, where the unemployment rate in June was 10.5 percent.
http://www.askheritage.org/are-green-jobs-the-answer/?utm_source=AH_Weekly&utm_medium=Email&utm_content=2011-08-26&utm_campaign=2011_Brand

Coach Fired Because of Conservative Song
We are seeing Tea Partiers and True Conservatives which are under attack from the center left liberals and even some so-called Republicans who are using them as scapegoats on issues such as the recent deficit reduction talks in which the tea partiers are being blamed. Then along comes football coach 26 year old Bryan Glover who is not shy about his political opinions. He is a proud tea party Republican and felt compelled to voice his disappointment in the current administration through his music. But he never thought sharing his new song would leave him unemployed. His Anti-Obama Song has left him in the unemployment lines along with the other (13.9 million) Americans. What ever happened to free speech in this country?
http://www.newschannel5.com/story/12989255/coach-says-he-was-fired-because-of-conservative-song?redirected=true

Top Ten States Where No One Wants To Buy A Home – Michigan # 4
The 24/7 Wall St. analysis is another look through the prism that is the collapsing residential real estate market. Most data the public sees is based on home prices, number of homes sold or foreclosures. Housing permits are a way to look ahead at what is likely to happen in the markets in the next year. Once a permit is issued, the builder has no obligation to begin or complete the construction. This additional risk has a compounding effect.
http://finance.yahoo.com/real-estate/article/113351/states-no-one-buys-new-home-247?mod=realestate-buy

Ron Paul Leaps Past Bachmann in Latest Poll
Ignored by the media and dismissed by the Republican Party in general, liberty-minded Congressman Ron Paul leaped into third place today in the Gallup Presidential Nomination preference poll. Given his three percent jump in the polls (despite the entrance of former Democrat and popular Texas governor Rick Perry into the race) shows that Ron Paul’s numbers are steady and rising. Apparently the American people are starting to take notice, too. According to the most recent Rasmussen survey of likely voters, Ron Paul is a mere one point behind President Obama in a head-to-head matchup — a better result than any of the other GOP contenders received. This is despite the media blackout around Ron Paul’s campaign, and despite the media’s insistence that Ron Paul can’t beat Obama. This poll suggests he can.
http://www.benzinga.com/news/11/08/1881149/ron-paul-leaps-past-bachmann-in-latest-poll

ObamaCare Taxes Home Sales – Clobbers Middle-Class American
Beginning January 1, 2013, ObamaCare imposes a 3.8% Medicare tax on unearned income of “high-income” taxpayers which could apply to proceeds from the sale of single family homes, townhouses, co-ops, condominiums, and even rental income, depending on your individual circumstances and any capital gains tax exclusions. Importantly, the “high income” thresholds are not indexed for inflation so will reach increasing numbers of middle-class taxpayers over time. This new ObamaCare tax is the first time the government will apply a 3.8 percent tax on unearned income. This new tax on home sales and unearned income and other Medicare taxes raise taxes more than $210 billion to pay for ObamaCare. The National Association of Realtors called this new Medicare tax on unearned income “destructive” and “ill-advised” and warned it would hurt job creation.
http://www.gop.gov/blog/10/04/08/obamacare-flatlines-obamacare-taxes-home

“If once the people become inattentive to the public affairs, you and I, and Congress and Assemblies, Judges and Governors, shall all become wolves.  It seems to be the law of our general nature, in spite of individual exceptions.”
Thomas Jefferson

Advertisements
  1. Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: