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taxes

Del. Freitas: Dem Control in Virginia Means Less Freedom, Higher Taxes

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Listen to “Del. Freitas: Dem Control in Virginia Means Less Freedom, Higher Taxes” on Spreaker.

As of Wednesday, Democrats now control the governor’s office and both chambers of General Assembly in Virginia, and the new majorities are promising an aggressive progressive agenda over the next couple of months.

Democrats plan to pursue legislation on gun control, abortion, the environment, the Equal Rights Amendment, the minimum wage and many other issues.

In this podcast, GOP Del. Nick Freitas tells Greg Corombos about the legislative and legal battles to come, the areas where he thinks he can find common ground with Democrats.

And as Freitas pursues a congressional bid, he explains how the Democratic agenda in Virginia is a preview for what Democrats in Washington would pursue if they win the House, Senate, and White House in 2020.

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Pro-Life Football Story, Bloomberg Knows Better Than You, SJW’s Target Hallmark

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Listen to “Pro-Life Football Story, Bloomberg Knows Better Than You, SJW’s Target Hallmark” on Spreaker.

Welcome back from Thanksgiving break! Grab a stool as Jim and Greg dissect good, bad, and crazy martinis today. First, while Greg laments another Ohio State win over Michigan, they love the powerful pro-life story involving OSU’s star running back. They also slam Michael Bloomberg for saying taxes on poor people are good because then poor people won’t make as many bad choices for themselves. And they roll their eyes as LGBT activists complain about the absence of same-sex romances in Hallmark and Lifetime Christmas movies. You’ll also enjoy their unvarnished analysis of the Hallmark movies as they currently exist.

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The Dems’ Other Target: Alaska Governor Addresses Recall Effort

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Listen to “The Dems’ Other Target: Alaska Governor Addresses Recall Effort” on Spreaker.

While virtually all of the political oxygen is being consumed by the impeachment hearings in Washington, Democrats are looking to remove another Republican executive as well.

Gov. Mike Dunleavy won the Alaska governor’s race in 2018, promising to restore fiscal order in the state. Upon entering office in December of last year, he immediately began cutting spending. The cuts included reductions to the University of Alaska system and Medicaid payments among many other areas. By the end of February, a recall effort was already underway.

“We put in some pretty stiff reductions. And, really, there were reductions across the board and they hit a lot of programs.

“They hit programs that touched upon debt reimbursement for municipalities, university, and hit some of our vulnerable populations – homelessness and some of our seniors,” said Dunleavy.

But he says aggressive action had to be taken. Without it, Alaska would be in difficult financial straits.

“We would have gone through our savings this year. We’d have no savings left and we’d be staring at some pretty stiff, draconian taxes,” said Dunleavy.

Recall supporters gathered more than 49,000 signatures but state officials rejected the premise for it. That ruling is now being challenged in court.

Listen to the full podcast to hear Gov. Dunleavy’s reaction to the recall and his analysis of why cutting spending draws such fierce opposition in both parties – whether in Alaska or in Washington.

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FedEx Fights Back, Prince Andrew’s Assinine Excuses, Mayor Pete’s Major Mistake

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Listen to “FedEx Fights Back, Prince Andrew’s Assinine Excuses, Mayor Pete’s Major Mistake” on Spreaker.

Happy Monday!  Jim is in a good mood after a Jets win on Sunday and he’s fired up for all three martinis.  First, Jim and Greg applaud FedEx CEO Fred Smith for fighting back against smears from the New York Times that accused his company of evading taxes thanks to the recent tax reforms.  They also shred Prince Andrew for his absurd defenses against accusations he was connected to Jeffrey Epstein’s pedophile ring, including Andrew’s explanation that he stayed at Epstein’s house against his better judgment because he is “too honorable.”  And they break down the sloppy, clueless effort of the Pete Buttigieg campaign to connect with black voters in the 2020 campaign.

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Gates vs. Warren, Government & Your DNA, Libs Push Population Control

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Listen to “Gates vs. Warren, Government & Your DNA, Libs Push Population Control” on Spreaker.

Jim is on vacation but there’s still plenty of fireworks on Thursday’s Three Martini Lunch. Greg is joined by Chad Benson, host of “The Chad Benson Show.”  Today, they get a kick out Bill Gates wondering just how much of his money Elizabeth Warren wants and concluding a conversation with Warren might not be worth his time because he’s not sure how open-minded she is.  They also recoil as a judge allows police to demand DNA from one of those outfits that tracks your heritage as part of an investigation, although Chad reminds us we all have pretty much voluntarily given up our privacy. And they fire back at 11,000 “scientists” who now say the Green New Deal is not enough, but we have to engage in population control too.

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Why Warren’s Math Won’t Work

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Listen to “Why Warren’s Math Won’t Work” on Spreaker.

After taking heat from her Democratic rivals for months, Sen. Elizabeth Warren released her plan for covering the cost of government-sponsored health care for all Americans.

Warren says the price tag is roughly $52 trillion over ten years, yet insists she can pay for it by taxing billionaires, cracking down on tax cheats, and streamlining administrative costs of the program.

Chris Jacobs is CEO of the Juniper Research Group and author of “The Case Against Single Payer.” He tells me why all three of Warren’s ideas fall far short of meeting the expected costs, why two of her three ideas are contradictions of one another, and why the math is laughably wrong on the tax enforcement plan. He will also explain what kind of tax increases will really be needed to pay for Warren’s health plans and why he suspects she won’t admit that she’ll have to tax everyone.

Listen to the full podcast with Chris Jacobs.

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Good Jobs Report, Warren’s Fiscal Fantasy, Katie Hill’s Blame Game

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Listen to “Good Jobs Report, Warren’s Fiscal Fantasy, Katie Hill’s Blame Game” on Spreaker.

Back to the normal format today, but plenty of good Friday fodder awaits.  Today, Jim and Greg are happy to see better-than-expected numbers in the October jobs report.  They shred Elizabeth Warren’s ludicrous plan to pay for government-run health care, explaining why it’s a fiscal pipe dream and a health policy nightmare for everyone.  And they roll their eyes as Katie Hill and all of her liberal and media apologists ignore the actual reason she is resigning from Congress today.

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What Medicare for All Will Really Cost You

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Listen to “What Medicare for All Will Really Cost You” on Spreaker.

Presidential candidates like Bernie Sanders and Elizabeth Warren are vowing to abolish private health insurance if elected president and have all Americans get their coverage through the federal government.

Projections suggest such a plan would cost $32 trillion over the first ten years. Warren plans to pay for that with a two percent wealth tax on the super rich.  Sanders admits he would raise taxes on the upper class and the middle class, but both insist their plans will be a net positive financially for American families.

But is that true?  Would the tax plans raise even close to enough revenue to pay for this new entitlement?  National Taxpayers Union President Pete Sepp says they won’t and so does the bipartisan Committee for a Responsible Budget.

The CFRB says to make ends meet, lawmakers would need to enact a 42 value-added tax on consumers, a 32 percent payroll tax split between employers and employees, a 25 percent income tax surcharge on all Americans, or require everyone to pay roughly $7,500 to buy into the federal health care program.

In this podcast, Sepp details the devastating effect such tax increases would have on American families and the U.S. economy.  He also addresses the possibility that the government will just let our debt pile up even higher and faster.

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Dem Debate: Warren Gets Whacked, New Tax Nightmare, Tulsi’s Impeachment Twist

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Listen to “Dem Debate: Warren Gets Whacked, New Tax Nightmare, Tulsi’s Impeachment Twist” on Spreaker.

Chad Benson, host of “The Chad Benson Show,” borrows Jim’s stool again today.  In this episode, Chad and Greg break down the latest Democratic presidential debate.  First, they get a kick out of watching Elizabeth Warren squirm out of answering whether she would raise taxes on the middle class to pay for government-run health care and watching mild-mannered Amy Klobuchar and Pete Buttigieg hammer her for not answering.  They also groan and protect their wallets as Warren pitches her wealth tax yet again and Andrew Yang counters by touting the horrendous value-added tax.  They note how Tulsi Gabbard was the only Democrat on stage who admits President Trump won in 2016 and thinks impeachment will only help Trump in 2020.  And they have fun with some of the really bad answers candidates gave when asked to name people who think differently than them but have had a profound impact on their lives.

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Debt Crisis ‘Gonna Happen in the Next Couple Years’

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Listen to “Debt Crisis ‘Gonna Happen in the Next Couple Years'” on Spreaker.

This past week, the Congressional Budget Office (CBO) projected annual deficits in this and the next fiscal year will near $1 trillion and that the U.S. will rack up more than $12 trillion in debt over the next decade.

There was virtually no reaction from the White House, Congress, or political figures of any stripe.  The media also largely ignored the news.

Former South Carolina Gov. Mark Sanford is trying to sound the alarm about the debt crisis and is seriously considering a GOP presidential campaign to stress the issue since no other candidates are.

Sanford also spent separate three-term stints in the House of Representatives.  He was defeated in the 2018 Republican primary after running afoul of President Trump and GOP leaders over government spending.

In discussing the latest CBO forecasts, Sanford began saying the mounting debt is simply a deferred tax on future generations who will have to pay the bills.  Then he stopped himself and warned that the current generation could well face it too.

“This is not just a next generation problem.  There is a proverbial straw that breaks a camel’s back.  We are growing ever closer to that moment.

“I believe we’re walking toward the most predictable financial crisis in the history of man.  It is not something that will happen to the next generation, but it’s going to happen in the next couple of years,” said Sanford.

“Think about this: we will spend more on interest (on the national debt) than we do on national defense in 36 months.  That’s not a kid or grandkid problem.  That is our problem,” said Sanford.

Sanford says he cannot pinpoint what will “light the match that lights the fire” or when exactly that might happen.  However, current government estimates suggest Medicare will go insolvent in seven years and Social Security will follow suit in 15 years.

For his part, Sanford worries that increased tariffs will be a recipe for economic trouble.  He says trillion dollar deficits are always alarming, particularly so in during a good economy.

“The deficits that we’re running are being run in peacetime and relatively calm economic waters.  You reverse the economic waters and the deficits explode,” he said.

If the CBO projections are correct, the official national debt will stand at $34-35 trillion a decade from now.  Sanford says the real numbers are far worse.

“The Congressional Budget Office numbers are not real.  Those are fairly conservative numbers.  This is why a variety of different organizations, like the Committee for a Responsible Federal Government have said those numbers could actually stretch closer to $2 trillion a year in operating deficits,” said Sanford.

Listen to the full podcast to hear Sanford discuss why neither party is serious about reining in federal spending, what action he thinks needs to be taken to return to fiscal stability, and how he is deciding whether to run for president.

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