Showing posts with label IBD. Show all posts
Showing posts with label IBD. Show all posts

Friday, June 26, 2015

By Larry Elder, Jun. 24, 2015, IBD

Right after a white killer gunned down nine black worshippers at a historic church in Charleston, S.C., out came the politics.

On the Capitol grounds in Columbia flies the battlefield flag of Gen. Robert E. Lee's Army of Northern Virginia, often erroneously called the "Confederate flag." Right after the shooting, calls came for the flag's removal.

Gov. Nikki Haley, until now, had defended the compromise that moved the flag in 2000 from the Capitol dome, where it had flown since 1962, to a nearby Confederate soldier memorial on the statehouse grounds.

The killer didn't pull out a Confederate flag and use it to kill people. He used a .45. He also had flags of apartheid South Africa and separatist Rhodesia. Ban them, too?

President Obama took the opportunity to make the case for additional gun-control legislation. "We don't have all the facts," he said, "but we do know that once again, innocent people were killed in part because someone who wanted to inflict harm had no trouble getting their hands on a gun."

OK, now that Obama mentions it, suppose one or more of the churchgoers had been armed? South Carolina is one of 40 states that allow citizens to carry a concealed weapon on a "shall issue" basis, meaning that as long as you pass basic qualification requirements — age, training, no criminal history, etc. — the state will not deny you a permit to carry a concealed weapon.

Permit holders, however, can't bring a firearm to a "house of worship." Whether Dylann Roof, who's reportedly confessed to being the Charleston killer, knew this, we don't know.

We do know that one of Roof's friends said he wanted to attack a local college. But, according to the friend, Roof switched targets because of the security around the school. If the school's security deterred Roof, might allowing concealed carry in a "house of worship" have a similar effect?

How about we spend a little time on whether someone could have and should have said something to someone? Roof apparently told people of his intentions to start a "race war" — and at at least some friends knew he possessed a .45.

Obama said the tragedy reminds us "we've got a lot of work to do." He spoke of the 1963 church bombing in Birmingham, Ala., where four black girls were killed and nearly two dozen people wounded. But the differences between Birmingham in 1963 and Charleston in 2015 are staggering.


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Thursday, October 23, 2014



Source:  www.ibdtv.investors.com

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Saturday, October 18, 2014



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Wednesday, October 15, 2014

FLASHBACK: 'IBD Exclusive VIDEO: Larry Elder On Why GWB NOT To Blame For Fallout In Iraq'


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Tuesday, September 30, 2014



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Friday, September 5, 2014



Exclusively featured at Investors.com 


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Wednesday, August 27, 2014

China Goes Outlaw, Harasses U.S. P-8 Aircraft Over South China Sea

Chinese Shenyang J-11 fighter jet 
Source: IBD
By Investors Business Daily Editorials, Aug. 26, 2014

Aug. 26, 2014, News.investors.com

Military Superiority: Beijing's belligerence gets bolder as a Chinese fighter gets within 20 feet of a U.S. reconnaissance aircraft. It's time the administration felt the need for speed in dealing with this rising threat.

In a move that, as Yogi Berra might say, is deja vu all over again, China gave the U.S. a pointed reminder that it takes seriously its claims in the South China Sea and that America is not welcome in what Beijing considers its territorial waters.

The latest incident involved the intercept of a U.S. Navy P-8 anti-submarine reconnaissance aircraft, a military version of the Boeing 737, by a Chinese J-11 supersonic fighter — itself Beijing's version of the Russian SU-27 fighter — as the U.S. jet flew in what we consider international airspace near China's Hainan Island.

Those familiar with the Tom Cruise flick "Top Gun" will remember the scene where his character Maverick flew his F-14 Tomcat upside down over a Russian MIG while making the international gesture of, er, friendship. The Chinese pilot made multiple passes at the P-8, at one point flying at a 90-degree angle to show the P-8 crew its weapons load. In effect, he extended Beijing's middle digit to the U.S.

The incident was reminiscent of one that took place on April 1, 2001, when a Chinese J-8 collided with and forced down an American EP-3 surveillance aircraft that was flying near Hainan. Beijing held the crew hostage for 11 days.

Read the full story:  www.news.investors.com


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Thursday, August 14, 2014

IDB: Recent Scandals Show It's Time To Abolish IRS

By Lewis Uhler and Peter J. Ferrara, Aug. 12, 2014, News.investors.com

The Constitution states in Article I, Section 8: "The Congress shall have the power to lay and collect taxes ... ." The 16th Amendment enacted in 1913 restated: "The Congress shall have the power to lay and collect taxes on incomes ... ."

There is no mention of a presidential role in either imposing or collecting taxes.

Congress abdicated its constitutional role in tax collection in 1862, when it prescribed an income tax to be collected by a newly-created Internal Revenue Commission in the Treasury Department. Since then, there have been a series of presidential abuses of the IRS, which now has lapsed into virtually a campaign arm of "Team" Obama.

Today, IRS bureaucrats directly flout Congress and stonewall investigations of abusive, partisan political activity, with technologically impossible claims of lost emails. What would the IRS say if you filed your tax return claiming your computer crashed and you hopelessly lost all records of your income a year ago?

The only solution is to return to the Constitution, abolish the IRS under presidential control and replace it with a congressional tax collection bureau reporting to Congress. Lois Lerner and all her IRS colleagues who refuse to cooperate with Congress would then simply be fired — instead of called to testify.

Members of Congress would be more responsive to complaints from constituents on arbitrary and abusive treatment by tax collection bureaucrats. Such constituent complaints would also spur Congress to enact tax reform that would simplify and streamline the tax code.

Read the full story:  www.news.investors.com


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Saturday, August 9, 2014

41 IG's Send Unprecedented Letter To Congress: WH Is Preventing Oversight/Investigations

IBD Editorials, Aug. 8, 2014, News.investors.com

Orwellian: Another official in the "most transparent administration" claims to have lost emails sought by investigators, while dozens of government auditors complain that Obama officials repeatedly obstruct their probes.

Anyone who has ever tried to pry any information out of President Obama's administration comes to the same conclusion: Despite repeated promises of openness, it is the most paranoid, controlling and impenetrable in history.

Take the plight of the inspectors general.

In an unprecedented letter to Congress, 47 IGs blasted the administration for "serious limitations on access to records" that have impeded their investigations. The letter specifically cited cases at the Justice Department, the EPA and the Peace Corps, the latter of which had been withholding — of all things — sexual assault records against its volunteers.

"Even if we are ultimately able to resolve these issues," they told lawmakers, "the process is often lengthy, delays our work, and diverts time and attention from substantive oversight activities."

Meanwhile, a Health and Human Services official claims to have deleted some of the emails sought by a congressional probe into the Healthcare.gov launch fiasco.

House Oversight and Government Reform Committee Chairman Darrell Issa says the number of administration witnesses who have conveniently lost or destroyed emails now totals 20.

Read the full story:  www.news.investors.com

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Wednesday, August 6, 2014

Israel Can Thank Hillary For Hamas Terror Tunnels

Hillary Rodham Clinton
Source:  www.hlntv.com
By Investors Business Daily Editorials, Aug. 4, 2014, News.investors.com

Mideast: Finally, the president has scolded Hamas for using its tunnels to attack Israel. But he should also fault his former secretary of state. It was Hillary Clinton who aided their construction.

Rewind to 2012.

Then, as now, Hamas terrorists in Gaza were raining rockets on Israeli towns. Eight days of cross-border fighting claimed 166 Palestinian and six Israeli lives.

Just 48 hours before Israeli troops planned to invade Gaza, then-Secretary of State Hillary Clinton brokered a cease-fire. She flew to the region and met with Israeli and Palestinian leaders and announced a peace deal from Cairo.

The cease-fire held, and Washington headlines trumpeted the exiting secretary's parting feat.

"Hillary Clinton scores Gaza cease-fire success," Politico.com said.

"Clinton got a Gaza cease-fire right at the moment hope seemed dead for a rapid end to the violence — and next time, President Obama will probably have to do it without her," the news site gushed.

Only, the cease-fire didn't really hold.

That's because the deal Clinton brokered required Israel to ease its blockade of building materials and other dual-use goods bound for Gaza, which is ruled by the terrorist group Hamas.

Israel had banned construction goods because Hamas used them to build an underground network of weapons depots, bunkers and rocket-launching pads.

But Clinton naively believed Hamas leaders' pledge that such supplies would go to bridges, hospitals and schools. And so the successful five-year Israeli blockade was lifted.


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Sunday, July 20, 2014

Snowden Mouthpiece Greenwald Shills For Islamist Terror Targets  

Glenn Greenwald speaks to reporters at his hotel 
in Hong Kong on June 10, 2013.AP.
Source:  www.news.investors.com
By Investors Business Daily, Jul. 15, 2014, News.investors.com

War On Terror: It's now clear that ex-NSA contractor Ed Snowden and his journalist sidekick Glenn Greenwald have an agenda beyond exposing spying abuses. They're really aiding and abetting the Islamist enemy.

By releasing the names of several Muslim terrorist targets under surveillance by the NSA and FBI in a new expose — "Under Surveillance: Meet the Muslim-American Leaders the FBI and NSA Have Been Spying On" — Snowden and his mouthpiece Greenwald have tipped off the enemy and jeopardized major counterterror investigations.

They make it seem as if the five American Muslim leaders they found listed in NSA and FBI surveillance records were victims of anti-Muslim prejudice, while glossing over the raft of counterterror evidence against them. In fact, the government has court-approved cause to spy on them.

One of the FBI's terrorist targets — a subject of a FISA court warrant — is the executive director of the Council on American-Islamic Relations in Washington, a group Greenwald describes as a harmless "civil-rights organization," though the FBI has called it a "Hamas front" and the Justice Department has implicated it in a plot to raise millions for Palestinian terrorists.

A federal judge OK'd warrants to read CAIR chief Nihad Awad's email accounts. The FBI showed Awad may be engaged in "certain criminal activity on behalf of a foreign power." No wonder the agency cut off ties to CAIR and its Palestinian leader.

Greenwald has pocketed thousands of dollars speaking at CAIR fundraising banquets.



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Saturday, July 19, 2014


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Thursday, July 17, 2014

By Larry Elder, Jul. 17, 2014, Townhall.com / IBD.com

Attorney General Eric Holder, in a recent interview, reiterates the theme heard from the very beginning of President Barack Obama's administration: opposition to Obama's agenda equals racism. "There's a certain level of vehemence, it seems to me, that's directed at me (and) directed at the president."

What is Holder's proof -- to the extent that any is required?

After all, following his election, Obama's favorable ratings reached nearly 80 percent, higher than any president-elect since John F. Kennedy. Obama, in 2008, received a greater percentage of the "white vote" than did John Kerry.

Polls, studies and statistics, for Holder, aren't relevant when it comes to racism. Some claim to possess "gaydar," an ability to discern the sexual orientation of a gay person. Holder, it seems, possesses the instinctive ability to discern "racists."

Holder added, "You know, people talking about taking their country back. ... There's a certain racial component to this for some people. I don't think this is the thing that is a main driver, but for some there's a racial animus."

Is Holder truly suggesting opponents disguise their racial animus through rhetoric like, "taking their country back"? Where have we heard the assertion that the take-back-America slogan equals racism?

Ben Jealous, the former president and CEO of the NAACP, made the same argument back in 2010. "They use this rhetoric," said Jealous, "'take back our country' -- as if nobody else belongs to the country. ... They question the nationality of people of color from the President all the way down. And it's deeply, deeply disturbing."

But CNN's Anderson Cooper played Jealous a montage of Democratic politicians using the very same rhetoric:

Then-presidential candidate Howard Dean, 2003: "Today, we stand in common purpose to take our country back!"

Then-presidential candidate Sen. John Kerry, 2004: "To take back our country ... "

Sen. Charles Schumer, N.Y., 2006: "We are going to take our country back!"

Then-presidential candidate Sen. Barack Obama, 2007: "It's going to be because of you that we take our country back."

Then-presidential candidate Sen. Hillary Clinton, 2008: "To make sure we take our country back ... "

New Mexico's Gov. Bill Richardson, 2008: "Are you ready to take our country back?"

Then-Minnesota senatorial candidate Al Franken, 2008: "This is the year we take our country back."

Harvard law professor and defense attorney Alan Dershowitz made the same rhetoric-equals-racism argument back in 1998, only he objected the way the "right wing" refers to themselves as "real Americans." For example, a former Southern Republican criticized Dershowitz by saying, "Real America understands that the Constitution is there for a reason."

To this Dershowitz responded, "Whenever I hear the words 'real Americans,' that sounds to me like a code word for racism, a code word for bigotry, a code word for anti-Semitism." We go again to the videotape:

Then-President Bill Clinton, 1995: "Look, I know America first and foremost is a place where individual effort and family values count. That's why I am successful. But I live in the real America -- not in Washington, D.C."

Then-President Clinton, 1997: "Remember how you have seen things like that during the natural disasters here in California. That is the face of the real America. That is the face I have seen over and over again. That is the America somehow, some way, we have to make real in daily American life."

Then-President Clinton, 1998: "America's got a good agenda in the coming months. We can be for saving Social Security first, better schools, a cleaner environment, and a Patient's Bill of Rights, and we can sell that in every place in America. They are real choices real Americans face in this election."

Then-first lady Hillary Rodham Clinton, 1994: "They have enabled this day to come about, because they were willing to think differently, to put people first, to solve real problems that real Americans face every day."

Then-House Minority Leader Rep. Richard Gephardt, Mo., 1998: "We will carry on this fight every day of the rest of this year to fight for the real issues that real Americans care about so deeply."

Speaking of race, Attorney General Holder said, "The greatest threats (posed by racism) do not announce themselves in screaming headlines. They are more subtle. They cut deeper ... and ... are more pernicious." Holder offered three specific examples of "subtle," "deep," "pernicious" racism.

What are they? One, the push by some states for voter ID. Two, that black men receive longer prison sentences compared to white men for same crime. Third, that black kids are expelled/suspended at higher rates compared to white students.

In the case of voter ID, blacks support the requirement almost as much as do whites. Prison sentences are based, in part on arrests, something juries are unusually barred from hearing about. As for suspensions, schools in both liberal and conservative areas experience the same thing -- black boys disproportionately expelled.

Blame bad behavior, lack of discipline at home or fatherless homes. But blaming the consequences of bad behavior on "pernicious" racism does damage to growth and personal responsibility. Nice work, Mr. Holder.


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Friday, June 20, 2014

Lois G. Lerner
By IBD Editorials, Jun. 16, 2014, Investors.com

Scandal: The IRS descends into criminal enterprise, with word of a 26-month gap of lost emails from the very period it was illegally targeting Tea Party groups. Computer crash? Try obstruction of justice.

Just as the claim that President Nixon's secretary, Rose Mary Woods, inadvertently hit the "erase" button instead of "pause" gave impetus to the drive to impeach Nixon, so too should the IRS announcement that it can't find two years of Lois Lerner's emails lead to a criminal investigation of this administration and creation of a select committee.

In April we wrote, "Lois Lerner Should Go To Jail." We think so now more than ever and also that she shouldn't be the only one to be measured for an orange jumpsuit. As in Watergate, this fish rots from the head.

We are reminded how, during his Arizona State University commencement speech in 2009, President Obama noted that ASU had refused to grant him an honorary degree and "joked" that "President (Michael) Crowe and the Board of Regents will soon learn all about being audited by the IRS."

The joke was not funny then and is less funny now. It was a predictor of administration behavior. Lerner's knowledge of and participation in planning to use the IRS as a political weapon, in coordination with the White House, is why she twice invoked the Fifth Amendment in her congressional visits, even as she was cooperating — or is it coordinating? — with Eric Holder's Justice Department.

As Joseph Curl notes in the Washington Times, the Articles of Impeachment against Nixon charged that he "endeavored to obtain from the Internal Revenue Service, in violation of the constitutional rights of citizens, confidential information contained in income tax returns for purposes not authorized by law, and to cause, in violation of the constitutional rights of citizens, income tax audits or other income tax investigation to be initiated or conducted in a discriminatory manner."

Sounds like IRS targeting of the Tea Party to us. The president's defenders have told of rogue agents in Cincinnati and other tales while claiming that the trail doesn't lead to the White House. The missing Lerner emails might show a trail straight into the Oval Office.

A statement from the House Ways and Means Committee after Friday's announcement noted how implausible and convenient it was that the IRS computer crashed and lost Lerner emails from January 2009 to April 2011.

Read the full story:  www.investors.com


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Monday, June 16, 2014

IBD Editorials, Jun. 13, 2014, Inverstors.com

Scandal: The pilot who flew the survivors of the Benghazi tragedy to Germany says we could have rescued those who died and that the State Department knew who was attacking as it listened to the terrorists on captured cellphones.

In her book "Hard Choices," Hillary Clinton doubles down on the administration's Benghazi lies, writing that President Obama "gave the order to do whatever was necessary to support our people in Libya. It was imperative that all possible resources be mobilized immediately."

Of the terrorist attackers, Clinton, the originator of the Benghazi video lie, says:

"It is inaccurate to state that every single one of them was influenced by this hateful video. It is equally inaccurate to state that none of them were."

We'd like to introduce the former secretary of state to Eric Stahl, a recently retired major from the U.S. Air Force. Stahl was the commander and pilot who flew the corpses of the four killed at the Benghazi mission — U.S. Ambassador to Libya Chris Stevens, information officer Sean Smith and former Navy SEALs Glen Doherty and Tyrone Woods. Also on board were the survivors of the raid. All were taken to the U.S. military base in Ramstein, Germany.

Stahl, who — like Clinton — was for some strange reason never interviewed by the State Department's Accountability Review Board, says, no, we didn't do whatever was necessary and that none of the survivors knew anything about a spontaneous protest or a video that was put forth by her and by Obama repeatedly as the cause.

In fact, says Stahl, the State Department knew that night it was a terrorist attack.

Stahl told Fox News' Bret Baier that members of a CIA-trained Global Response Staff who raced to the scene of the attacks were "confused" by the administration's repeated implication of the video as a trigger for the raid, because it "knew during the attack ... who was doing the attacking."

The administration knew, according to Stahl, because immediately after leaving the consulate in Benghazi and moving to the (CIA) safe house, there were reports "that cell phones, consulate cell phones, were being used to make calls to the attackers' higher-ups."

Interestingly, a Defense Department targeting memo sent to the State Department two days after the attack, and two days before then-U.S. Ambassador to the United Nations Susan Rice spread the video lie on five Sunday talk shows, listed 11 suspects: four connected to the al-Qaida affiliate in North Africa known as AQIM, and seven connected to Ansar al-Shariah, a group with ties to the terrorist network.

Read the full story:  www.news.investors.com


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Friday, May 16, 2014

By Michael Mink, May 12, 2014, News.investors.com

At the baseball-ancient age of 42, Satchel Paige achieved his goal of pitching in the majors.

It came at a crucial juncture.

The Cleveland Indians were in the thick of the 1948 American League pennant race and needed their old rookie to win.

When he and those '48 Indians were done, they were champions of the world.

Paige (1906-82) was that rare baseball player who, in a sport defined by statistics, transcended them. He spent most of his career in the Negro Leagues and other pro loops when record keeping was often incomplete.

What speaks louder than his stats was what sluggers said about facing Paige in exhibition games while baseball was segregated.

Cheers

"Satch was the greatest pitcher in baseball," said Red Sox hitting machine Ted Williams, as quoted in "Satchel Sez" by David Sterry and Arielle Eckstut.

Paige's Keys
First Negro League pitcher elected to the Baseball Hall of Fame, in 1971.
Overcame: Impoverished beginnings and segregation in baseball.
Lesson: Keep a great attitude while continuing to pursue what you want.
"You have to believe in yourself. When you believe, you do."

The Yankee Clipper, Joe DiMaggio, said Paige was "the best and fastest pitcher I've ever faced."

Bob "Rapid Robert" Feller, who with Ol' Satch armed the '48 Indians, said "Paige was the best pitcher I ever saw."

Paige stands out as a colorful, American icon, but when it came to pitching, he had a serious message. "I ain't no clown," he said, as quoted by Larry Tye in "Satchel: The Life and Times of an American Legend." "I ain't no end man in no vaudeville show. ... I'm a baseball pitcher, and winning baseball games is serious business."

Paige helped pave the way for Jackie Robinson's integration into Major League Baseball in 1947, and in July of the next year he signed with Bill Veeck's Indians.

Paige won six critical games down the stretch for Cleveland, while fans flocked to see the old Negro League legend. He finished the regular season with a 6-1 record and 2.48 earned run average, with two shutouts and a save.

The Indians won the American League pennant and beat the Boston Braves in the World Series, where Paige pitched a scoreless two-thirds of an inning.

"Paige seemed to embrace big moments and enjoyed the spotlight," said Raymond Doswell, vice president of curatorial service at the Negro Leagues Baseball Museum in Kansas City, Mo. "He was charismatic and entertaining, confident in his abilities. Confidence made him unafraid of failure."

Despite his grand feats in the Negro Leagues and barnstorming against the best white players, Paige felt pitching in the majors was his real test, "a pressure situation that would give him the chance to ... prove that he was truly one of the best," Norman Macht wrote in "Satchel Paige."

Paige's career spanned five decades. SatchelPaige.com states that some called him the greatest pitcher in Negro Leagues history after such feats as 64 straight scoreless innings and 21 straight wins.

Some of the most accurate records that Tye cites show Paige going 103-61 in the Negro Leagues, 56-7 in the California Winter League, 35-2 in the North Dakota League and 23-11 in the Latin Leagues. In the minor leagues, Paige went 31-22 for the Miami Marlins from 1956 to 1958, when he reached the age of 52. "Age is a case of mind over matter," Paige said. "If you don't mind, it don't matter."

Read the full story: www.news.investors.com


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Monday, May 12, 2014

Condoleezza Rice
IBD Editorials, May 9, 2014

Academia: After the outrageous disinvitation of former Secretary of State Condoleezza Rice at Rutgers University's commencement, leftist radical Angela Davis is hailed and feted at UCLA. Can higher education get any crazier?

One can only imagine what Rice might have thought after hearing of Davis' supposedly triumphant return Thursday to the University of California at Los Angeles, where the latter was fired in 1969 for her clandestine Communist Party U.S.A. membership and involvement in the Black Panther terrorist movement.

The honor to Davis — and the standing ovations, the gushing words from UCLA's chancellor, the glossy brochures and $43,000 honorarium — came around the same time Rice was effectively dismissed as commencement speaker at Rutgers based on leftist protests about her tenure as secretary of state during during 9/11 and the Iraq War.

Rice and Davis, it happens, were both born in Birmingham, Ala., at the height of the Civil Rights movement, each the daughter of respectable middle-class families who moved in the same social circles, according to various biographies. Each moved on to great fame, becoming pioneers of sorts as the "first black woman" in different fields.

Rice seized the opportunities of the Civil Rights movement to make something magnificent of herself. With hard work, she excelled first in classical music and then in foreign affairs, where she became one of America's top experts on the Soviet empire and communism. She capped her career as America's first black Secretary of State — a post she served with grace, polish, fairness, knowledge and dignity. After that, she became provost at Stanford University.

Davis also studied at a university. But instead of excelling as Rice did, she was drawn to philosophy with dirigiste European intellectuals of anti-American bent. These included UC San Diego's Herbert Marcuse, who led her to embrace communism, anti-Americanism and the Soviet-financed Communist Party U.S.A.

Read the full story:  www.news.investors.com


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Friday, May 9, 2014

By Arthur Laffer, May 8, 2014, Investors.com

Anyone who has ever watched Animal Planet should be familiar with migrations. Geese do it, wildebeests and whales do it, turtles do it and, yes, people do it too. To migrate is a natural phenomenon.

What's interesting about most migrations is their purposes are generally positive: sex, food, sun and other such motivations. "The grass is always greener" is what they say.

For humans and, to a lesser extent, animals, a number of migrations also occur for negative reasons: famine, war, pestilence and, yes, taxes without corresponding benefits.

Population outmigration can be a key marker for a disturbed society with deeply rooted policy flaws. It's a far better sign of a state's health to have people lined up on its borders trying to get in than it is to have people lined up on its borders trying to get out.

Over the past 165 years, California has grown at an average annual compound rate of 3.8%. But in recent times it has morphed from being America's (if not the world's) greatest people attractor to being a massive population and jobs repellent (see actual population in blue on the chart).

And there really is no end or solution in sight. If it weren't for net immigration (people who move from another country to California), California would be a mere shadow of its present size (the population from 1960 on without net immigration is shown in red).

Post-War Boom

To set the stage for the story of today's California, you should be aware that after World War II, Gov. Earl Warren cut California's highest marginal income tax rate from an astronomical 15% to 6%, where it remained for well over a decade. He also cut the state's sales tax rate.

In the chart on Page A15, I have plotted California's population growth relative to the U.S. from 1959 to the present. I have also plotted California's net domestic in-migration (people who move from state to state) as well.

My choice of 1959 is far from arbitrary. That was the year when Edmund G. (Pat) Brown became governor of California. It was also a year of enormous tax increases in California — no mere coincidence.

As governor in 1965, Brown even proposed raising California's highest personal income tax rate back up to 15%. But he withdrew that proposal when tax revenues exceeded projections.

After eight years of calamitous government, Ronald Reagan took the helm in 1967 and showed that he too could raise taxes with the best of them, culminating in his 1972 increases on corporate income and sales.

Read the full story:  www.news.investors.com


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Thursday, May 1, 2014

IBD Editorials, Apr. 29, 2014

Anti-Business: Texas Gov. Rick Perry keeps coming back to California to lure companies to the income-tax-free Lone Star State. Apparently he's succeeding.

Toyota Motor Corp. will relocate "substantial parts" of its U.S. headquarters in Torrance, Calif., to suburban Dallas. The impetus for the move: cutting costs. This could lead to as many as 5,000 jobs transplanted from California to Big D, as they call it in Texas. This is the 50th major employer to make the trek to the Lone Star State from California this year alone.

Toyota, the world's largest auto producer, isn't saying so, but no doubt taxes are a big source of the savings from packing up and moving. California has the highest income tax in the country, with a top rate of 13%, compared with zero in Texas. For a company with thousands of workers, many with high salaries, this can mean tens of millions of dollars each and every year in cost savings to Toyota and its employees.

It's not just taxes, but also a regulatory structure in California that treats businesses, especially manufacturers, like enemy combatants. Joseph Vranich, a California-based business relocation adviser, who has long tracked the migration of companies from California, cites more than 250 major firms that left the state since 2011 through last year.

Why? "Today," he said, "California businesses can reduce costs by 20% by moving to many states and up to 45% in some areas." One big cost factor: California's green-energy mandates are driving up electric utility costs to near the highest in the nation.

When Perry was asked why he keeps traveling to California, he recently quipped:

"You fish where the fish are."

Well, he just reeled in another whopper.

Read the full story:  www.news.investors.com


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Wednesday, April 30, 2014

By IBD Editorials, Apr. 29, 2014

Israel: As appalling as it was to hear Secretary of State John Kerry compare the one Middle East country with Western values to the old South Africa, it should shock no one. It's obvious this administration reviles Israel.

According to the man who 43 years ago this month contemptuously discarded his military decorations onto the steps of the U.S. Capitol, an Israel that stands firm against terrorist Palestinians refusing to recognize its legitimacy will either cease "to be a Jewish state" or become "an apartheid state with second-class citizens."

John Kerry of Swift Boat infamy insisted how "imperative it is to get to the two-state solution" during what he thought were private remarks to the government officials and wonks at the Trilateral Commission. The Daily Beast's Josh Rogin crashed the affair and recorded Kerry's unguarded comments.

First off, let's be brutally honest about two states: There is little chance it will be a solution to anything. It can, in fact, be expected to fan the flames of anti-Israeli fanaticism.

But Kerry and Obama want to preside over some settlement for which they can take credit — then blame the Israelis later when it doesn't work out as advertised.

Second, let's parse this insulting notion of an "Apartheid Israel." Of course, calls for Kerry to resign only elicit laughs within the corridors of the West Wing; it's not as if he called a Muslim country an apartheid state, after all.

Read the full story:  www.news.investors.com


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