Get free daily email updates

Syndicate this site - RSS

Recent Posts

Blogger Menu

Click here to blog

FlashReport Weblog on California Politics

- Or -
Search blog archive

Congressman John Campbell

Why I Voted Against the Fiscal Cliff “Deal”

You may be wondering why you did not hear from me during the last few weeks of the “fiscal cliff” machinations in Washington. For one thing, I figured that many of you were enjoying the holidays with your families and friends and did not want me to interrupt that with depressing news. Additionally, however, things were moving so fast that anything I wrote you would have been obsolete by the time you read it. I had about a dozen “laptops” in my head each day, but, by the time I sat down to write them, the circumstances had already changed.

Well, unless you were abducted by aliens or have just gotten back from your Mayan end-of-the-world worship ceremony in South America, you know about the deal that was passed by the Senate and the House on New Year’s Day. To say I didn’t like the “deal” would be to understate the case. I hated it.

I don’t want to raise taxes. That feeling is not driven by a pledge, as many liberals would like to argue in order to portray we conservatives as the mindless lemmings that some of said liberals are. I think that having the federal government take roughly 20% of all the production of the… Read More

Katy Grimes

California health exchanges – ‘Mo Money’

The Obama administration has a lot riding on California’s implementation of Obamacare, also known as the Patient Protection and Affordable Care Act. How the state implements the new insurance exchanges, and whether or not it is done successfully, will be an important test of nationalized health care.

But a state-run health exchange puts the burden onto the state and the expense ultimately on the taxpayers. The state loses the authority and flexibility needed to best meet the needs of its people… Which is why more than 30 states have told the Obama government that… Read More

Congressman John Campbell

Update from the “Cliff”

Given Thursday evening’s events in the House, it looks more and more like we may be going over the “fiscal cliff”. Therefore, I wanted to give you an update on what that could potentially mean for you. I also wanted to clarify the total impact of the income tax rate changes that we will face should we go over. These figures, which appeared in my previous “Laptop Report”, have been updated.

The total impact of all the income tax rate changes is estimated to raise revenue of roughly $4.5 trillion over 10 years. The total effect of all of this would be to reduce the deficit by approximately $7.7 trillion over the next ten years according to the Congressional Budget Office (CBO). That means CBO projects an “average” annual deficit of roughly $230 billion if we are over the “cliff” vs. a deficit of about $1 trillion a year if everything is extended.

Again, these projections are based on “static modeling”. That means they do not take into account the economic impacts and the behavioral changes that will occur as a result of what I’ve outlined above. When these tax hikes take place, people will most certainly take actions to… Read More

Congressman John Campbell

Just the Facts, Ma’am: Fiscal Cliff Edition

Just the Facts, Ma’am – Fiscal Cliff Edition: This was the famous, at least to those of us who were alive then, admonition offered by the fictional LA detective, Sergeant Joe Friday, to witnesses who would engage in too much speculation about a crime. Well, I generally give you a lot of my opinion. Every once in a while, though, I give you just the unvarnished facts so that you can draw your own conclusions.

You have probably heard the term “Fiscal Cliff” enough times to make you sick. But, do you really know everything it entails? Below, you will find a comprehensive list of every law that will expire at the end of this year, as well as the result of our returning to whatever the law was before. The accumulation of all of these things has been dubbed collectively by the media as the “Fiscal Cliff”:

• Unemployment compensation will revert from a 73 week maximum to a 26 week maximum. This takes it back to the duration that existed in 2008 and prior. This will reduce spending by approximately $30 billion over 10 years.

• For the past 2 years, there has been a “payroll tax holiday”. For this… Read More

Congressman John Campbell

Taxes and Culture

Taxes and Culture: Being a CPA and all, I often opine in these pages about things fiscal, financial and economic. Today, in the mainstream, establishment press, all you hear about is the “fiscal cliff” and taxes and such. I care a great deal about taxes and the deficit, as you regular readers well know. And, you will hear much from me about these issues in the coming months. But, the underlying issue before us right now with the so-called “fiscal cliff” is, in my opinion, not actually fiscal or financial. It is cultural.

As you may not be aware, I have always believed that the culture of an organization is the biggest single attribute that will determine the success or failure of said organization. In my 25 year business career, I was obsessed with the culture of our company and with that of companies we might acquire or with which we might do business. A business with a strong culture of customer service will empower people with service skills and will change or weed out those people who don’t care how they treat others. If a company has a culture of dishonesty, even an honest person will cheat now and then because… Read More