Talking Turkey

The cost of a Thanksgiving dinner is up 13%.

And millennials are moving in with the 'rents:

According to Census data, 5.9 million Americans between 25 and 34 years of age—nearly a quarter of whom have bachelor's degrees—live with their parents, a significant increase from 4.7 million before the recession.

But many parents can't afford the extra expense. A full 26% of those polled by the nonprofit group took on more debt to help their offspring, 13% delayed a planned life event such as a home purchase, and 7% postponed retirement.

Compounding the problem is the fact that certain parents are crowding the younger generation out of the job market because their support of their grown kids means they can't afford to retire.

It's potluck around the table. That pricey turkey economy.

P.S. Retirement wars. The growing "wealth gap" between old and young could get ugly as it dawns on the latter that they won't have anything to retire on. #OccupyReality  Some of their parents won't either. 
...Time for a classic --crossposted at BackyardConservative

The Fraudulent Franken Majority

Minnesota leads the nation in voter fraud convictions:... as a tiny non-profit corporation, we netted more than double the number of convictions in one year than the US Department of Justice was able to find in five

Generational Warfare. "Stop calling our country Taxdonia. This is Lovelandia!

MoDo notwithstanding--oh, yeah, we're the crazy ones--It's worse than we think:

If we keep raising successive generations’ lifetime net tax rates, we will eventually be hitting up our progeny for every penny they earn, leaving them unable to consume or save. If they can’t save, they can’t invest, which means they won’t be able to maintain -- let alone increase -- the economy’s stock of capital needed to produce goods and services.

The U.S., incidentally, has a national savings rate of zero and a domestic net investment rate of only 4 percent of national income. Both are postwar lows.

Memo to House Republicans: Budget balance doesn’t imply generational balance.[snip]

So what's the bottom line, hmm?

The Youngsters have hired some young economists to use generational accounting to examine the lifetime net tax treatment of different cohorts. Their report isn’t pretty. It shows that past cohorts received, on a lifetime basis, far more than they put in and that the current young are being asked to participate in a Ponzi scheme.

They also learn that measuring debt is a meaningless labeling game since the government can take from the young with the words “taxes,” rather than “borrowing,” and incur debts via promises of future repayment that are tied to the “taxes.”

Today's young aren't feeling the love. They thought it was embodied in Obama. Now more than a few are figuring out he's an empty suit.

Who will be the next young, hot star? 

P.S. Rep. Joe Walsh (TEA Party R-IL): Sen. Rob Portman: Matching debt increases with spending cuts will balance the budget in a decade without raising taxes. Wall Street Journal

UPDATE: Doorbell, a Powerline entry: 

   --crossposted at BackyardConservative

You're gonna make it after all, Minnesota:)

Was the beer impasse the impetus? The GOP largely prevails:)

Mark Dayton's Big Accomplishment: MN Shutdown

Thank you Gov. Dayton

Yes, Mark Dayton should be commended, he's not pitching a tent and keeping a state park open just for him, no, no, no. Mark Dayton makes do.

Is Governor Dayton a Man of His Word?

Minnesota Majority

Dems Choose Class Warfare on the Eve of Independence Day

The president took his opening salvo, starting his campaign a year early, demonizing yet another group of Americans. Sen. Marco Rubio (R-FL) calls him out on the Senate floor as engaging in behavior more akin to that of a third world leader. Video.

We have a jobless summer, only one in four teens is employed. The minimum wage was raised by Dems when they controlled both Houses in 2007, costs have gone up, tax and regulatory uncertainty is rife, yet the president picks a fight with job creators.

A case in point in Minnesota, where the new Dem governor faces a new Republican legislature. Despite the governor's claims of cuts, the GOP House and Senate actually increased spending slightly over the previous year, balancing the budget without a tax increase. You can just watch the first 5 minutes of this clip for the gist of it. "Whether we tax one group of people or the whole state, it's debt we cannot afford". But Dem Governor Dayton wants to play the class warfare card, so he shut down the state government. [what stays open, what closes] A millionaire himself, his initial shutdown plan--clearly a priority over budget negotiations--kept his chef and gardener at the governor's mansion, classifying them as essential services. And when the governor, prior to the election, in October of last year, was asked if he would shut down the government to achieve his tax increase, he said no. Yet here we are.

Back in DC, Treasury Sec. Tim Turbotax Geithner is the last of the Obama econ advisers to abandon ship. Tax and spend seems to have sunk this country.

Will we still be the land of the free and the home of the brave when our children inherit America?

The Stamp Acts and duties on tea that the British government imposed from afar from the 1760s onward were not symptoms of a deep hatred and mistrust between the center and periphery of the English-speaking world; they were not flash points for anger swelling up from deeper causes. The taxes -- illegal in the English tradition, according to the Colonists, since they violated the rights of free Englishmen to make their own fiscal rules through representatives in Parliament -- were themselves the specific issue on which the Colonists staked their lives and their honor. They would not be browbeaten or oppressed or enslaved, they would not be taxed.

They would not be hijacked and mugged to serve ends about which they had not been consulted. And the Crown knew what they were saying; but it needed the money.

Let's remember why we defied King George.

   --crossposted at BackyardConservative