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| Peter Frank |
Investment council elects Peter Frank vice chair
Taken Out of Context? Let's Put It Back!
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| Jim Spence (left) |
The top 25% of all taxpayers, which includes many successful businesspeople, pay 87% of all federal income taxes. Their businesses also pay billions of dollars each year in fuel excise taxes that are most often used to build roads and bridges. The more successful the business person is, the greater their share of the federal tax take is. The top 1% of earners actually pay more than 42% of the entire income tax paid by the top 25%. It is all part of a progressive tax code wherein about half of all American households pay zero income tax.
We took the time to speak to a business person in southern New Mexico about the costs of bridges and roads. He said when he first got into business he borrowed money and built a modest-sized building that was not in a very good location. Though his building was relatively inexpensive, he still paid substantially higher property taxes than he did on his home. As his business began to thrive he looked at a better location. He said, “All of the property located closer to busier roads with access bridges was a lot more expensive. But, we wanted a better location.” He borrowed heavily and paid the price for better road access. His property taxes went up five fold.
The reality is all business owners face substantially higher costs for property if they want to locate their businesses near better roads. Business people pay for the privileges that come with better locations near busy four lane roads.
Let’s return to the president’s statement and put it back into the context he would prefer. Obama would have all of us believe that it is government that builds roads and bridges. He goes farther. Somehow we are supposed to believe that business owners don’t really have a hand in the costs associated with building roads and bridges. His thought processes are preposterous. The truth is business owners pay a disproportionate share of the costs of government including roads and bridges. It is called a progressive tax system. The president is playing intellectually bankrupt shell games for the fool's vote. Clearly his objective is to try to diminish all voter awareness of the facts regarding where most of the money comes from that pays for roads, bridges, and all the other good things he claims government does. Even within the context he prefers, the actions and words of this president are reprehensible.
WSMR, Holloman: Union workers threaten strike
Las Cruces Sun-News - Employees from one of White Sands Missile Range's largest contractors threatened Monday to strike after union negotiations hit a rocky spot. A portion of the 325 employees who belong to the International Association of Machinists and Aerospace Workers Local Lodge No. 2515 also work at Holloman Air Force Base, outside Alamogordo. The union claimed its employer, TRAX International LLC, didn't follow through on verbal agreements about wages and cut back on health insurance benefits, according to an email from the union's business representative, Charles Jaramillo. He said negotiations reached a "critical juncture." The union and TRAX International "failed in their attempts to come to an agreement," he said. "This failed agreement has resulted in the union membership voting overwhelmingly to initiate a strike against the company," if negotiations don't improve. The Las Vegas, Nev.-based company provides a variety of operations-related services to WSMR, including in missile launch support, technical services, engineering services and laser research, according to its website. The missile range is in contact with TRAX International LLC and is keeping tabs on the negotiations, WSMR spokeswoman Monte Marlin said. The facility is "confident both parties will work to resolve the differences as soon as possible," she said. Read More News New Mexico
Feinstein: Intelligence Leaks Coming from White House
Newsmax - The Democratic leader of the Senate Intelligence Committee said Monday that the White House appears to be responsible for some leaks of classified information. "I think the White House has to understand that some of this is coming from their ranks," Sen. Dianne Feinstein told a World Affairs Council forum.
The California lawmaker said she was certain that President Barack Obama, who receives a daily intelligence briefing, isn't disclosing secret information, but she was uncertain about others at the White House. "I don't believe for a moment that he goes out and talks about it," she said.
Republicans have criticized the disclosures, arguing that members of the Obama administration were intentionally leaking classified material to enhance the president's reputation in an election year. Attorney General Eric Holder has appointed two attorneys to lead the investigation into who leaked information about U.S. involvement in cyberattacks on Iran and about an al-Qaida plot to place an explosive device aboard a U.S.-bound airliner.
That hasn't satisfied some Republicans who have pressed for a special prosecutor. Read full story here: News New Mexico
Obama's War on Coal Producing the Desired Effect: Layoffs in Abundant Coal Areas of Nation
Pennsylvania’s PBS Coals Inc. and the affiliated RoxCoal Inc. announced that they would idle some of their deep and surface mines, laying off 225 employees in the process.
“Both the foreign and domestic coal markets remain soft due to weak economic growth and activity,” PBS Coals president and CEO D. Lynn Shanks explained in a statement. “Additionally, the escalating costs and uncertainty generated by recently advanced EPA regulations and interpretations have created a challenging business climate for the entire coal industry.”
According to the Pittsburgh Post-Gazette, which first reported the layoff, the company employs 795 workers. In Alledonia, Ohio, Murray Energy Corp. announced Friday it would lay off 29 union coal mining jobs at The Ohio Valley Coal Co.’s Powhatan No. 6 Mine. Read full story here: News New Mexico
State earns $3.9M at July oil and gas lease sale
New Mexico Business Weekly - The New Mexico State Land Office announced Monday that it garnered $3.9 million in July from its monthly oil and natural gas lease sale in Santa Fe. The state auctioned 25 tracts of land totaling nearly 8,000 acres to the highest bidders at an average price per acre of $502. The highest sealed bid was sold for $800,000 to Energen Resources Corporation of Farmington. The highest oral bid was $465,000, made by Crown Oil Partners IV LP of Midland, Texas. The Land Office said that the monthly lease sales generate revenue from oil and natural gas produced on state trust land for trust beneficiaries, which saves taxpayers money. Ray Powell, state land commissioner, said in a prepared statement, "New Mexico has been blessed with enormous mineral reserves. The appropriate use of these natural resources has helped support our public schools, universities, and hospitals. We can thank our hard-working public employees at the State Land Office for the ongoing success of our oil and gas lease sales that help keep our taxpayers bills lower." Read More News New Mexico
Mayor Bloomberg Says Cops Should Go On Strike Until Americans Give Up Their Guns
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| Michael Bloomberg |
Judge issues removal of classified employee names from state website
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| Susana Martinez |
Santa Fe to Get $2 Million From Washington D.C.
The city will use the $1.92 million award to replace buses in its fleet that have met or exceeded their useful lives with CNG (compressed natural gas) buses that will reduce greenhouse gas emissions.
According to a release from the city of Santa Fe, the project was selected on a competitive basis through the federal State of Good Repair Program. Read full story here: News New Mexico
New Mexico awarded grant to help students pay for Advanced Placement exams
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| Jeff Bingaman |
Obama Fundraiser Recycles Solyndra Players
Washington Times - President Obama rubbed elbows Monday night with two men at the center of the Solyndra loan scandal at an exclusive fundraiser in California. Steve Westly, a financier whose money-raising prowess helped to snag him a post on the administration’s energy advisory board, and Matt Rogers, a former Energy Department senior adviser who helped to approve the Solyndra loan, were spotted by reporters at the $35,800-per-person fundraiser for the president’s re-election campaign.
Mr. Westly sent warnings to the president not to attend an event at Solyndra's headquarters in the Bay area because of shaky finances at the solar energy company, which had received a fast-tracked $535 million federal loan guarantee in 2010 as part of the administration’s economic stimulus program. Mr. Rogers was partly responsible for overseeing stimulus awards at the Energy Department.
They were among about 60 wealthy donors who attended the fundraiser at the swanky home of progressive activist Quinn Delaney and real estate developer Wayne Jordan, a big Obama bundler, in Piedmont, Calif., near Oakland. Read full story here: News New Mexico
Carlsbad Caverns Closes Temporarily
Martinez Unveils New System To Expedite Construction Permitting Process
Governor Susana Martinez today unveiled a state-of-the-art electronic plan review system that will expedite the approval of construction, design, and architectural plans by the state’s Construction Industries Division. Currently, all plans are required to be sent by mail or hand delivered for manual reviews and approvals at CID offices in Santa Fe, Albuquerque, and Las Cruces. The new system will allow businesses to submit their proposals online for a faster review process that will save both time and money. “Every day delayed at a construction site translates to lost wages for workers, lost revenues for local communities and potentially increased costs for contractors, subcontractors and suppliers,” said Governor Martinez. “Instead of requiring businesses to wait out a manual review process, this new system will allow them to instantly submit their proposals for consideration by the state’s permitting agency. It will save time and money for homeowners, builders, developers and contractors by speeding up the permitting and approval process by simply pushing the send button on a computer.” “We want to send a loud and clear message to the construction industry in our state and across the country – we’re open for business and we aim to help them grow and prosper. Rather than standing in the way of success and economic growth, we should be doing everything we can to promote it,” Governor Martinez continued.
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