Club for Growth

It's Romney...Or Is It?

Andrew Roth

Earlier today, the prediction market priced Romney as McCain's VP at 59.2 and Pawlenty at 29.5. Romney is now trading at 69.9 while Pawlenty has dropped to 15.5.

It's gotta be Romney.

UPDATE: Pawlenty has gotten a huge boost, no doubt from this news report. Right now, Romney is now trading at 45 while Pawlenty is at 40.

Posted at 4:24 PM, August 28, 2008 | Trackback (0) | Print | | #

A $2 Billion Local Tax?

Andrew Roth

The Tulsa city council has approved a $2 billion tax increase. If enacted, the tax hike would only be in effect from 2010 to 2021. That's why local officials are calling it a "temporary" tax. How quaint.

Luckily for taxpayers, they get to vote on the plan in November.

Posted at 3:41 PM, August 28, 2008 | Trackback (0) | Print | | #

GDP Grew 3.3% in 2Q

Andrew Roth

Brian Wesbury, one of the smartest economists out there, was the only one whose guess was even close.

Posted at 3:23 PM, August 28, 2008 | Trackback (0) | Print | | #

What Should 'The Rich' Pay in Income Taxes?

Andrew Roth

That question was put to DNC convention delegates by Jimmy P. Their answers will surprise you.

Posted at 2:34 PM, August 28, 2008 | Trackback (0) | Print | | #

A Fantastic Idea

Nachama Soloveichik

Pat will probably kill me for posting this, but Gregory S. McNeal at National Review Online had a great idea last week that I just stumbled across: Pat Toomey for Veep.

Pat Toomey for Veep? [Gregory S. McNeal]

The rest of NRO is kicking around their predictions, hopes and fears regarding McCain's August 29th VP announcement, so I thought I'd jump in with my own thoughts.

With talk of Tom Ridge being a possiblity because he can help deliver Pennsylvania, but a bad pick because of his pro-choice record, I got to thinking about other Pennsylvanians. Pat Toomey, the president of the Club for Growth, immediately came to mind.

Toomey is a clear conservative, and given his work at the Club for Growth, his profile fits McCain's reformer image. He penned an op-ed back in February offering his own thoughts on McCain's veep options. In Toomey's words, McCain "will have to become the champion of the brand of economic conservatism that has won national elections for Republicans since 1980." What better person than Toomey to help McCain achieve that goal?

Being from Pennsylvania, Toomey fits the notion that a VP candidate can deliver a state (although I don't agree with that theory, and I think Ramesh wrote once that he doesn't agree with it either, but I can't find the link). If the campaign is looking for a Pennsylvanian, they should look no further than Pat Toomey. Toomey's former congressional district is a swing district(Allentown/Easton/Bethlehem), which could help McCain peel off some voters from Obama. Also, Toomey's clear conservative record could help rally fence-sitting conservatives to the McCain campaign.

Here are some quick points on Toomey based on his voting record, as compiled by http://www.ontheissues.org/PA/Pat_Toomey.htm:

-Toomey holds a 0% rating by NARAL, indicating a solid pro-life voting record

-Toomey is in favor of school prayer

-Toomey voted yes on the 2003 energy policy proposed by President Bush

-Toomey voted no on prohibiting ANWR drilling

-Toomey has repeatedly voted in favor of free trade

-Toomey is rated A by the NRA

Of course Toomey is a tax cutter and a limited-government proponent. The Club For Growth's efforts reflect his commitment to these conservative principles.

The big vote that might make him unsuitable was his opposition to campaign-finance reform, McCain's signature issue. Setting that aside, as Toomey stated in his op-ed: "To win in November, Mr. McCain needs a strong economically conservative message. Picking a vice presidential nominee who can credibly champion that message is the first and perhaps best indicator he can give voters how he will govern if he makes it to the Oval Office." Let's hope the McCain campaign was listening, and extends an offer to Pat Toomey.

Posted at 12:41 PM, August 28, 2008 | Trackback (0) | Print | | #

AK-AL: Update on the Young-Parnell Race

Andrew Roth

This morning, we found this article from the Anchorage Daily News that we think accurately sizes up the current situation. Here's an excerpt:

U.S. Rep. Don Young maintained a razor-thin lead over Lt. Gov. Sean Parnell this afternoon, but a winner in the race will not be known for two weeks.

With all but one of Alaska's 438 precincts reporting in the Republican U.S. House primary, Young leads by less than one quarter of one percentage point.

The difference was just 152 votes, with Young up 42,539 to 42,387.

The remaining uncounted precinct is in the village of Hughes.

But absentee and questioned ballots won't be counted until Sept. 5. Also, the Division of Elections ran out of Republican primary ballots in Petersburg and Wrangell late Tuesday afternoon. Republican voters in those Southeast Alaska towns were then allowed to vote using sample ballots, which are valid, but they won't be counted until the state election review board starts its work on Sept. 8, Fenumiai said.

Fenumiai said 204 voters in Petersburg used the sample ballot and 53 in Wrangell.

It's unclear how many absentee ballots will be counted in the race. The state mailed out over 16,200 and has received about 7,600 back.

"So there's still a potential for 8,000-plus of those to come back," Fenumiai said.

Fenumiai said she's also anticipating between 5,000 and 10,000 questioned ballots to be counted Sept. 5.

Posted at 12:29 PM, August 28, 2008 | Trackback (0) | Print | | #

Thursday's Daily News

Andrew Roth

THE DAILY NEWS
Winner's Tax Strategy - Larry Kudlow, New York Sun
Biden unloads on McCain - Sam Youngman, The Hill
The GOP's Alaska Meltdown - Wall Street Journal Editorial
The Devils in His Details - George Will, Real Clear Politics
BHO as the New LBJ or FDR - OC Register Editorial

Eliminating Secret Ballot Organizing Elections - James Sherk, Heritage
The Uncool Animal Farm Bill - Dan Ikenson, Cato Institute
Republicans Pounce - On Each Other - Katherine Rizzo, WSJ
Corporations Do Pay Their Taxes - Steven Malanga, IBD
The World's 100 Most Powerful Women - Forbes.com

Cubs 2, Bucs 0 - Associated Press (Sweep!)

Posted at 10:13 AM, August 28, 2008 | Trackback (0) | Print | | #

McCain's VP Pick

Andrew Roth

According to this report, McCain is going to chose his VP on Friday. Here are the latest InTrade predictions:

p(Romney):	59.2%
p(Pawlenty):	29.5%
p(Ridge):	9.9%
p(Hutchinson):	9.0%
p(Lieberman):	8.9%
p(Meg Whitman):	6.5%

Posted at 9:07 AM, August 28, 2008 | Trackback (0) | Print | | #

New 2007 Congressional Ratings

Andrew Roth

The lobbying arm of Citizens Against Government Waste has released its 2007 congressional scorecard. The "Taxpayer Superheros" were Reps. Jeff Flake (R-AZ), Jeb Hensarling (R-TX), and Jim Sensenbrenner (R-WI). Congrats to all of them.

Posted at 8:36 AM, August 28, 2008 | Trackback (0) | Print | | #

America's Most Affordable Places to Retire

Andrew Roth

Forbes has the list, but they don't include Florida???

Posted at 6:00 PM, August 27, 2008 | Trackback (0) | Print | | #

Instant Replay in Baseball

Andrew Roth

I'm a huge traditionalist when it comes to baseball. I hate the designated hitter, aluminum bats, and Astroturf (although I'm indifferent towards Fieldturf).

That said, I'm okay with MLB's new experiment with instant replay. The above abominations distort the game, making it an ugly mutation of its former self. But with instant replay, baseball remains true to itself, it just makes the on-field decisions more precise, which is what everyone wants in the first place.

David Keating, our executive director and a baseball fan himself, may disagree, but I'm okay with it. Bring it on, I say.

Posted at 5:46 PM, August 27, 2008 | Trackback (0) | Print | | #

Defiance in New York

Andrew Roth

An online merchant, Newegg, is refusing to collect sales taxes on purchases made through their website in New York, where a questionable state law requires them to do so. Good for them.

Posted at 5:41 PM, August 27, 2008 | Trackback (0) | Print | | #

Lew Rockwell Defends Earmarks

Andrew Roth

Lew Rockwell doesn't seem to understand the budget process. He is a big defender of freedom, no doubt about it. His blog and the movement he has helped build deserves abundant praise. But he seems to defend earmarks merely because Ron Paul supports them.

Rockwell writes:

All the usual suspects are criticizing earmarks again. Being anti-earmark, like McCain and the Beltway types, is a way to seem anti-spending while actually strengthening executive power. Earmarks do not increase spending; they are congressional allotments of proposed spending. If money is not directed by Congressman X to the public library in Topeka, it goes to the presidency, where the federal agencies spend it. Earmarks are, in effect, a legislative blow at executive supremacy. A very minor one, it is true, but you can tell by the neocon yelps, not to mention the opposition of the Club for Growth, that earmarks are comparatively a good thing. So it is no contradiction for Ron Paul to request earmarks that his constituents want. He votes against the spending, of course, but if the earmark goes through, that's better than Bush and Cheney getting the dough for their nefarious scheme.

This argument is an old canard, that earmarks don't increase overall spending, they are merely carved out of current allocations. It's technically true, but full of smoke and mirrors. It presumes that Congress is helpless against itself. That it can't cut earmarks out of a budget and then subsequently reduce the total amount, which they are certainly capable of doing. Rockwell's line of thinking also presumes that earmarks are never used to buy off votes to pass really big spending bills that otherwise wouldn't pass the laugh test. In this application, earmark spending is a steroid that massively increases the size of government through leverage. Rockwell, a proud critic of government, certainly doesn't believe that politicians behave like kittens who don't buy each other off with earmarks, does he?

Congress could eliminate earmarks tomorrow, and not give the Administration one extra dollar. The fact that they don't do this isn't an indictment of earmarks, it's an indictment of a Congress unwilling to restrain itself.

Posted at 4:56 PM, August 27, 2008 | Trackback (0) | Print | | #

Who is the iPhone Girl?

Andrew Roth

I don't know why I liked this story so much, but I did. Maybe it's because the Chinese girl had a mischievous smile and what appears to be a happy-go-lucky attitude despite having a mindless job in a country with an authoritarian government. Or perhaps because the girl who assembled the product in China has "reached out" to the iPhone buyer in the U.S. in a "small world" sort of why. Or maybe it's because the Internet community gushed over the entire mystery until it was ultimately solved.

Posted at 3:01 PM, August 27, 2008 | Trackback (0) | Print | | #

Rudy is Right on Taxes

Andrew Roth

During an interview with Larry Kudlow, former NYC Mayor Rudy Giuliani hit the nail on the head about Obama's deceptive plan to raise taxes only on the "rich":

And the reality is, when you raise the capital gains tax, which [Obama] has promised to do, you’re raising taxes on over 50 percent of the American people. That’s not just the rich.

[...]Everyone who has a pension plan, absolutely, 50 percent of America, the American middle class. So they’re not telling you the truth when they tell you they’re not going to raise taxes on the middle class.

An increase in the capital gains tax goes right to the heart of the middle class. It will hurt our economy, I think in a way that you understand, Larry. It’s exactly the worst thing to do right now in the economic cycle that we’re in.

Bam! You're exactly right, Mr. Mayor. This message needs to be broadcast all across the country in every living room, diner, coffee shop, church, business, community center, sports arena, and street corner. If you have a 401(k) or any other kind of brokerage account, you will be affected by a capital gains tax hike. And it will not only hurt your net worth when you sell an asset, but the assets themselves will decrease in price since their after-tax return will be diminished. This is a very big deal. Props to Rudy and Larry for pushing this.

Posted at 2:39 PM, August 27, 2008 | Trackback (0) | Print | | #

Now That's a Brassy Move

Andrew Roth

From the Seattle Post-Intelligencer:

Seattle City Councilman Richard McIver used city money to pay a $1,000 fine levied by the Seattle Ethics and Elections Commission last month after finding that he had given the appearance of favoritism in awarding city contracts to a longtime friend.

Posted at 2:29 PM, August 27, 2008 | Trackback (0) | Print | | #

How Do You Define "American-Made"?

Andrew Roth

Mark Perry asks several good questions about what constitutes an "American-made" product, including this:

"What about...American-made vehicles produced by UAW workers in American factories for foreign car companies, do they count as "American-made" or not?

Posted at 2:17 PM, August 27, 2008 | Trackback (0) | Print | | #

Dumbness in Knoxville, TN

Andrew Roth

You need a permit to go out of business in Knoxville, TN.

Posted at 2:04 PM, August 27, 2008 | Trackback (0) | Print | | #

Does a $250,000 Salary Make You Rich?

Andrew Roth

Here's a good debate on CNBC.

Posted at 1:58 PM, August 27, 2008 | Trackback (0) | Print | | #

Tax Revolt Day in New Hampshire

Andrew Roth

For Tax Revolt Day, angry taxpayers are paying the toll pike with pennies.

HT: Drew Nordgren

Posted at 10:38 AM, August 27, 2008 | Trackback (0) | Print | | #

Wednesday's Daily News

Andrew Roth

THE DAILY NEWS
Big Labor's Comeback - Wall Street Journal Editorial
The Pie Got Bigger - IBD Editorial
Economic Nobel Laureates Discuss Obama Agenda - Joellen Perry, WSJ
The Benefit of Lower Tax Rates - Robert Carroll, Tax Foundation
Confusing Wealth and Income - Richard Rahn, Washington Times

Biden is Wrench in McCain's VP Choice - Jeanne Cummings, The Politico
Lobby Ties Counter Biden's 'Outsider' Label - J. McElhatton, Washington Times
Is College Worth It? - Walter Williams, Townhall.com
Chambliss' Rhetoric Doesn't Match His Actions - Jason Pye, JasonPye.com
American Aristocracy - Waterbury Rep-Am Editorial

Cubs 14, Pirates 9 - Associated Press (This was a great game. Our pitching was lousy, but we lost the lead a couple of times and kept battling back. You can never count out our offense)

Posted at 10:35 AM, August 27, 2008 | Trackback (0) | Print | | #

Pic of the Day

Andrew Roth

Even if you aren't a dog lover, you gotta love this pic.

Posted at 10:14 AM, August 27, 2008 | Trackback (0) | Print | | #

Stat of the Day

Andrew Roth

From the Census Bureau via Mark Perry:

Of households in the lowest income quintile in 2001, 28.6% were in a higher quintile in 2003; of those originally in the highest income quintile, 32.1% were in a lower quintile 2 years later.

Posted at 9:51 AM, August 27, 2008 | Trackback (0) | Print | | #

Conserviatve Bloggers Pick VP Favorites

Andrew Roth

John Hawkins surveyed 67 right-of-center bloggers.

Posted at 9:08 AM, August 27, 2008 | Trackback (0) | Print | | #

Trent Lott Said What???

Andrew Roth

Former Senator Trent Lott made a startling confession to a local journalist [my emphasis]:

"John [McCain] used to harass me because I would get earmarks -- or pork barrel projects -- in Mississippi," [Lott] said. "And I would say, 'Well, yes, John, I'm a senator from Mississippi and we're the poorest state in the nation.'

"But we're not anymore, that pork paid off."

Then Lott made a couple of admissions I found startling.

"But you know what, in my heart I knew he was right," he said of his pork barrel ways. That's no way to do business, we shouldn't be doing all that earmarking -- it got completely out of control.

"It got out of control with Republicans and that's why we are being punished a little bit," he added. "Because we forgot how we got there, what we believed in, the principles that after 30 years put us in the majority, gave us the White House, the congress, the senate, the house. And then we ran out of ideas...

HT: Mark Tapscott

Posted at 8:54 AM, August 27, 2008 | Trackback (0) | Print | | #