TANSTAAFL

The wild and woolly shouting matches occurring in DC are nothing more than the last grunts of the GOPe. Bannon was right to get out of the White House; he can raise more hell from the outside and put as stake through the black heart of the RINO Senate.

This maneuver by Bannon at this time puts the GOPe is a bind. Those wishing not to vote on Trump’s agenda of immigration, tax cuts and ObamaCare are going to be faces with the primary season opponents who will support Trump’s agenda. The voters want it; the GOPe know this so this push into the small corner where they have to fish or cut bait is going to be highly amusing to the electorate in November this year.
What you are seeing and hearing is the call for the formation of a new Party, a third party to take the place of moribund GOP.

Bannon Declares War On GOP Establishment: “We’re Coming After All Of Them And We’re Going To Win”

On Monday’s edition of Hannity, Breitbart executive chairman and former Trump adviser Steve Bannon talked about his plan to challenge every Republican Senator up for re-election in 2018 in the primary, except Sen. Ted Cruz. Bannon said Republican incumbents have committed “economic hate crimes” against the “forgotten man.”

Bannon said he is declaring “war” on the Republican establishment and those that don’t back what President Trump ran on. He said there is a “new game in town” and promised to “cut off the oxygen” to Senate Majority Leader Mitch McConnell and stop his fundraising for establishment candidates. Bannon said any person running for the Senate in 2018 that wants his support must oppose McConnell as the Republican Leader.

The Breitbart chief gave a warning to all incumbents: “Just voting is not good enough. You have to have a sense of urgency. Nobody is safe. We are coming after all of them and we’re going to win.” [snip]

Bannon on the coalition to go after the Republican establishment:

BANNON: They have to understand. There’s a basic agenda that President Trump rand on and won. He carried states that Republicans haven’t carried in living memory — Michigan, Wisconsin, Pennsylvania. This agenda works. The American people voted for it. It’s their responsibility.

By the way, McConnell would not be Majority Leader unless Trump won in North Carolina and Missouri and Wisconsin was able to carry those Senators across the finish line. It is incumbent upon them to back President Trump’s plan but you don’t see it.

Once you saw what Corker said today, it’s what they talk about. That’s why I left the White House. Remember, I said I’m going after the Republican establishment. And we’re going to go after them. We’re going to go after them and challenge them.

HANNITY: Give me the states.

BANNON: There’s a coalition coming together. It’s going to challenge every Republican incumbent except for Ted Cruz. Whether it’s Utah, Wyoming, whether it’s in Oregon.

HANNITY: Orrin Hatch in Utah.

BANNON: Orrin Hatch in Utah. Today, Boyd Matheson, who is the chief of staff for Mike Lee came out and said he’s going to set up and an exploratory committee.

HANNITY: North Dakota.

BANNON: In North Dakota we don’t have that…

By the way, we’re going in Mississippi against Wicker.

HANNITY: Who are you going to pick? McDaniel?

BANNON: McDaniel in Mississippi.

These names are all going to come out in the next several weeks.

[Kansas Senator Jerry] Moran. [Orrin] Hatch in Utah. The chief of staff for Mike Lee said he will set up an exploratory committee. In North Dakota. In Mississippi.

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Day by Day

Cognitive dissonance

Tax cuts only

 

benefit big earners

If you aren’t making any money, you aren’t paying any income taxes. Now how in hell can a tax cut affect you? All the clangor and hollering about taxes is nothing but political BS to distract you from the real issue: Those clowns in DC aren’t doing anything to solve the deficit.

If they really want to help the lower and middle classes, they would get rid of the excessive fees and taxes on the phones, Internet, tires, textiles, Federal excise taxes on coffee liquor and tobacco. Get rid of the inheritance (death) tax.

As for the Income Tax, make it a flat 15% on all income including interest and dividends; no deductions for anything. Everybody pays the 15% big earners will pay more. Progressives don’t like it because it is FAIR.

No corporate tax; they don’t pay that anyway, you do. That is passed through to you as a cost of doing business. You pay that tax when you buy the product or service. You get their tax on income from money paid out as wages and not put into the business for expansion. The rest is paid out to stockholders as dividends; that is collected in their taxes.

Can you tell me why this cannot be accomplished? There isn’t any reason except recalcitrance on the part of the likes of Sens. McCain, Corker, Murkowski, Collins and Paul. Why are these individuals reelected again and again?

We know why the Democrats won’t vote to change the system. They don’t believe it is your money.

Big Spenders

They took Price out of the House, but they couldn’t take the House out of Price.

Price resigns from HHS after facing fire for travel

HHS Secretary Tom Price resigned Friday in the face of multiple federal inquiries and growing criticism of his use of private and government planes for travel, at a cost to taxpayers of more than $1 million since May.

The White House said the former seven-term Georgia congressman, 63, offered his resignation earlier in the day and that President Donald Trump had accepted it. [snip]

Price ran afoul of Trump in part because his actions seemed to symbolize everything the president had inveighed against on the campaign trail by vowing to “drain the swamp.” The fallout extended to the entire Cabinet Friday night when the White House announced that chief of staff John Kelly must approve almost all travel on “government-owned, rented, leased, or chartered aircraft.”  [snip]

POLITICO revealed that Price flew at least 26 times on private aircraft at a cost of hundreds of thousands of dollars, a sharp break with his predecessors’ practice. Many of Price’s flights were between major cities that offered inexpensive alternatives on commercial airlines, including Nashville, Philadelphia and San Diego.[snip]

It is this mentality in DC that is so pervasive. We are the elite so we deserve the finer things at the taxpayers expense.

Now the White House is going to go through another round of confirmation hearings for the next HHS Secretary; the Democrats promise to make this a tough fight.

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Observations

Seems that it wasn’t long ago that we were here, in this same position at the end of Dubya’s final term with the prospect of the worst President in this Country’s history coming into office. At that time we got Dodd-Frank, Freddie Mac and Illegals getting loans to flip houses: A mess of Democrat proportions.
If one had money to make a down, it was the time to buy a home. Low rates and depressed prices. I did and did.

Now the market has changed, rates are rising and housing is in short supply in the lower end in some markets. The Millennials, who bought every toy that came on the market and saved nothing. They are paying high rents; now the market has changed.

The incredible, disappearing home down payment

Many real estate markets across the U.S. are in the midst of an affordability crisis because of rising home prices, tight access to credit, and a homebuilding industry that has been slow to build new homes. That’s made it hard for renting millennials — the oldest of whom are well into the prime homebuyers years of their mid-thirties – to afford down payments. 70% of them in a recent survey by real estate data company Zillow say that saving a down payment is the single biggest factor preventing them from buying,

Why this matters: Entrepreneurs across the country are recognizing the opportunity to profit from a broken real-estate finance industry that is failing to serve many prospective homebuyers. startups like Unison and Loftium are looking to profit by investing money upfront with real-estate shoppers.

Homeownership has been becoming more expensive for decadesthe median price of a new home in 1974 cost 1.7 times the median income, today that figure is at 2.6. This trend, however, was papered over by the explosion of easy mortgage lending that began nearly twenty years ago and culminated in the bursting of the real estate bubble in 2006.

Since that time, homeownership rates have been depressed, and those who do buy homes are increasingly relying on mortgages insured by the Federal Housing Administration (FHA), which allow homebuyers to put as little as 3.5% down. This arrangement can be more costly for homeowners, however, because it requires them to pay monthly mortgage insurance fees, and potentially puts the taxpayer at risk if the FHA miscalculates its risks — the agency required a $1.3 billion bailout in 2013 for this reason. [snip]

The bottom line: There is no replacement for good public policy, like expanding the affordable housing tax credit, or rationalizing zoning restrictions in a way that allows homebuilding to meet rising demand. But these business innovations are an important step too, as both startups will enable homeowners to take on less debt, all else equal.

  • Less debt makes government regulators happy, who are keen to expand homeownership without also encouraging reckless lending standards and ballooning debt that led to the last crisis.
  • In both cases, however, a prospective homeowner is selling some upside of home appreciation (or potential revenue from airbnb) in exchange for this reduced risk.

If he lending practices go back to small down payments with purchasers buying more house than they can afford, we shall shortly find ourselves back in the same foreclosure roulette of the Obama years. And that still isn’t cleaned up as of now.

To get faster change will require the bunghole GOP to get off their trunks and actually WORK. Pass the tax bills that Trump wants. Repeal the ObamaCare mess, THEN work on a small health care law basically keeping the Government OUT of the business. Until then the Country will just muddle along.

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