In another example of how increased government intervention is not needed in the mortgage lending market, the News & Observer has a story today about how credit unions are stepping up and helping their members refinance adjustable rate mortgages. Voluntarily. But note this quote from one of the "victims" of those dastardly mortgage brokers. "I [...]
- 4Dec05
It’s Getting Cold In Here
With the announcement late today that an agreement was near between the Bush Administration and Congress on a program to freeze interest rates of sub-prime mortgages to avert a housing "crisis," the government is overstepping its bounds into the market and setting a dangerous precedent for government intervention and bailout of a non-crisis "crisis." Two [...]
- Dec05
Happy Repeal Day!
74 years ago today, a failed experiment in the Federal Government’s attempts to regulate personal behavior was repealed. Raise your glass and toast the Constitution and our rights as free citizens.
- 1Dec03
Rudy and the FairTax
Republican Presidential candidate Rudy Giuliani, while in Greensboro today, took time to assail the FairTax plan advocated by fellow Presidential candidate Gov. Mike Huckabee based on his assertion that the FairTax would hurt homeownership. "I think there are several tax deductions that are vital to our economy," Giuliani said. "This would not be a good [...]
- 1Nov28
So Much for Going Green
Well, green environmentalism that is… The State of NC has awarded $12.7 million over the next 10 years to the Shaw Power Group to add 556 jobs in Charlotte. What exactly does the Shaw Power Group do you might ask? Well, they are a company that builds and constructs those nasty greenhouse gas emitting, global [...]
- Nov21
A $70 Million Bluff
In a political power play that would make even the toughest poker superstar envious, Bruton Smith played his hand and the taxpayers are the ones who will be paying. Feeling disrespected by the Concord City Council in rejecting his plans to build a drag strip next to the Lowe’s Motor Speedway, Smith threatened to close [...]
- Nov16
Rove is Right
Whether you agree or disagree with the tactics and influence Karl Rove has had on American politics over the past seven years, he is right on the money with his recent assessment of the Presidential race: And asked about how he sees next year’s general election playing out, Rove made no bones about his prediction [...]
- Nov16
Transfer Tax = Property Tax?
In his weekly column, NC Insider reporter Scott Mooneyham asserts that the transfer tax is no different than the property tax and that buyers will just roll the payments into their mortgage much like they do with property taxes now. A real estate transfer tax was no more or less a "home tax" than the [...]
- 1Nov13
Arrogance
A message to you unintelligent lemmings (aka voters): Many have figured that last weeks resounding defeat of the land transfer tax would discourage your county commissioners from ever bringing the issue up again. Well, think again. Apparently, you overwhelmingly voted down the transfer tax, not because of your dislike of this tax or your questioning [...]
- Nov12
No Strike Here
With the Writer’s Guild of America on strike, threatening to shut down production of your favorite TV shows, some bloggers are joining the writers and taking their blogs dark to show support for the writers. Rest assured, we here at RCC will not be joining in. Frankly the logic behind the strike makes very little [...]
- Nov09
You Just Knew This Was Coming
It took just a few days for the NC Association of County Commissioners (NCACC) to lick their wounds on their resounding defeat of higher taxes at the polls Tuesday and start their post-election spin and veiled threats. According to the News & Observer, the Association is now threatening higher property taxes due to the defeat [...]
- 6Nov08
Mexico Says NC is Unfair to Unions!
File this in the "I wish I was making this stuff up, but it’s really true" file. According to the Mexican Labor Ministry, the State of North Carolina is violating International Law and NAFTA by not repealing its statute (G.S. 95-98) which prohibits public employees from collective bargaining rights. And they have sent a complaint [...]
- 3Nov08
A Lesson for NC Republicans?
Elections in Virginia on Tuesday yielded huge gains for the Democratic Party in the state. Despite having wildly popular Governors (Kaine and formerly Mark Warner), Republicans had controlled the House of Delegates and the Senate. That all changed on Tuesday when Democrats picked up four seats in the Senate to take a majority of seats. [...]
- Nov06
The Next Big Incentive Boondoggle
The next big incentive package boondoggle that the state is about to give your tax dollars away to land is… Private jets for corporate executives and celebrities! Or so says this WRAL story. Raleigh Durham International Airport could be in the running to land an expansion or perhaps even the relocation of NetJets, a global [...]
- Nov05
Protesting the Wrong People?
The NY Times has an article on an activist group protesting outside the homes of Viacom executives (owners of VH1, BET and MTV) over the content of rap videos. Among other things the protesters want media companies like Viacom to develop “universal creative standards” for video and music, including prohibitions on some language and images. [...]
- 2Nov02
Where Do Incentives Rank?
Site Selection magazine recently released its list of top business climate rankings (again NC is #1). Take a look down towards the bottom on the factors executives rank as most important to them when choosing a location. "Availability of Incentives" is #5. A well trained workforce, regulations, taxes, and availability of land all rank ahead [...]
- Nov01
George Will on the Utah Vouchers Vote
A must read from George Will on the vote next Tuesday in Utah on the school voucher program. A sliver: In today’s political taxonomy, "progressives" are rebranded liberals dodging the damage they did to their old label. Perhaps their most injurious idea — injurious to themselves and public schools — was the forced busing of [...]
- Oct30
Opportunity Cost and Incentives
Another day, another six-figure payment to a company in the name of "economic incentives." This time it’s to Ply Gem Industries in Cary, who plan to add 100 jobs over the next four years. In exchange, Governor Easley has granted them $100,000 from the One North Carolina Fund. Now here’s the kicker… The One North [...]
- Oct26
The Neal v. Hagan Quandary for Dems
If as widely speculated, Sen. Kay Hagan (D-Guilford) rethinks her decision and does run for the Democratic nomination for US Senate against Sen. Dole, it sets up an interesting quandary for NC Democrats and for Sen. Hagan herself. Does Sen. Hagan run on her purported record as a pro-business Democrat and try and secure the [...]
- Oct25
Big Tent Dems?
Why is it that only after finding out that Jim Neal is gay are Democrats and DSCC chairman Chuck Schumer now out re-recruiting Kay Hagan to run against Elizabeth Dole? I thought the Dems were the open and inclusive party as compared to those bigoted (and in many cases it seems, closeted) Republicans? Is this [...]