The Breakfast Club - July 15, 2010

Nancy Pelosi called Robert Gibbs "inept".... think about that after what we, you, think about Nancy Pelosi. This is a lot deeper than just a pot calling a kettle black; it's a new dimension in name calling!
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George Steinbrenner finally achieved his dream. He died in 2010 and beat IRS's bloodsucking estate taxes. George Steinbrenner beat death on Earth!
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From L-E story: "Board member Rob Varner said he thought the district should be careful about using strict language in the affidavit, adding there could always be a reason why the district might decide not to prosecute someone trying to skirt the tuition policy." -- It's bad enough that teachers not living in Muscogee County are only going to pay half of the out of county/state tuition for their children attending MCSD schools, but what circumstance can Rob Varner deem legitimate for other non-residents falsifying records to skirt the tuition issue? Write Rob at rvarner@mcsdga.net and ask him?
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Glad the Mayor clarified his $500,000.00 program for 150 youth for 3 months was never discussed with the Crime Prevention Board, but since the program was going to spend $1,100.00 per month per child using city owned facilities (and I assume city paid employees), I really would like to know exactly what the $500,000.00 was to be spent on.
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From a L-E story: "In a letter Friday to Georgia Assistant Attorney General Calandra Harps, the attorney (Stacey Jackson) wrote: “There is no contract between Nike and the Georgia Blazers, Nike and the city of Columbus or Nike and the Columbus Parks and Recreation Department.” -- Hmmm, I wonder if he would rephrase this statement and say either "There never HAS BEEN or WAS EVER a contract"..
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A L-E "soundoff": "Teachers in the poorest socioeconomic schools should receive a bonus pay incentive. Why? Because they have to work twice as hard, often under deplorable conditions. Plus, that’s where we need the best teachers the most." -- This is all about liberalism and its "good intentions". The adage "You can lead a horse to water, but you can't make it drink" comes to mind. The best teachers need to be teaching the best students; students that will excel with innovative and motivated guidance, but that would countermand the "dumbing down of all to level the playing field" attitude of education 'leaders'.
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L-E headline: "Leading senators voice doubts about Afghan war " -- Corrected headline: "Samo-samo Senators voice doubts about (insert name here) war". The headline we need to see is "Senators vote to take the handcuffs off our soldiers in harms way and let them do what needs to be done to win"!
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Bill O'Reilly had a guest defending the NAACP's president calling T.E.A. Parties "racist" by saying the NAACP was defending people of color's interests. First, white is a color, though excluded under his standards, but how can the NAACP defend/improve anyone's condition if the NAACP doesn't recognize the great strides that have been made in the last 60 years, nor acknowledge that for anyone to improve, all must be on the same page?
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Don't you wonder how the NAACP (or the NCAA for that matter) can defend Savannah State's stripping players of any color of scholarships?
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L-E headline: "Retail sales in June drop 0.5% June" -- Retail sales drop when people have less discretionary income or personal savings to use for wants, yet potUS Nero-bama and his corps of DIM/DUMBorats want to raise taxes and reduce discretionary income/ personal savings even more. Great plan for recovery.....NOT!
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From a fellow BCer - bumper sticker: It's WE the People, not ME the President.
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From a fellow BCer:
It seems like a miracle that our beloved leader was able to convince BP to establish a $20 billion slush fund (oops, escrow) to compensate those hurt by the ongoing oil plume in the Gulf of Mexico. After all, he had no constitutional power to force them to do so; so had to resort to Chicago-style negotiating.



But, let us take a closer look at the effect on BP’s finances:

1. BP will establish a $20 billion fund, but will pay only $7 billion into it during 2010.

2. BP is a British corporation, but has a very large operating entity in the US.

3. By Generally Accepted Accounting Principles (GAP), BP must book the entire $20 billion expense in the year accrued. Therefore, they will book a $20 billion expense in 2010, reducing their US tax liability by $7 billion.

4. Our dear leader also convinced this massive corporation to show their concern for the “small people” by withholding dividends to their shareholders for the last 3 quarters of 2010. This reduces their outward cash flow by about $7.5 billion, including approximately 40% of that amount to US citizens. Assuming that the Bush tax cuts will survive through 2010, the US Treasury will lose another $450 million in taxes on that amount. We won’t even discuss the effect on the US economy.



Let us put the results into a table easily understood by the small people:

· BP Cash Flow:

O Escrow funding ($7 billion)

o Dividend saving $7.5 billion

o Tax savings $7 billion

o Net favorable cash flow : $7.5 billion



· US Treasury Tax Receipts:

o BP Corporate income tax ($7.5 billion)

o BP Shareholders ($0.45 billion)

o Net unfavorable tax receipts ($7.95 billion)



I guess we really should expect this. After all, our dear leader is the most inexperienced man in any room he walks into. Question: Did the US Taxpayers just fund the first 1/3 of the BP Escrow commitment?

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