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Statistics can paint a picture that reflects our current values and our future prosperity. 1. 15% of us are in a breadline. Altogether, there are now almost 46 million people in the United States on food stamps, roughly 15 percent of the population. That’s an increase of 74 percent since 2007, just before the financial crisis and Continue reading We Produce Breadlines and Deficits The national discussion on how to get our debt problem under control and reduce our spending raises many various arguments. A recent example offered that our pluralistic society is causing the givers to resent giving to the takers. Now, Arthur Brooks, president of the American Enterprise Institute, shares that only by allowing people to struggle to improve Continue reading Our Federal Debt and the Pursuit of Wealth and Happiness Marc Faber believes bonds are currently a bad investment. “I disagree with the bond bulls that are basing their case on a deflationary environment. In such an outcome tax revenues would collapse and stocks would fall heavily.” Should stocks fall the Fed would initiate more quantitative easing. Faber says people shouldn’t be buying bonds with yields trading Continue reading Dollar will Drop so Don’t Invest in Dollar Assets – Marc Faber Why don’t we change the tax system and have a flat tax or a consumption tax? Caroline Baum, Bloomberg News columnist, helps us to understand the government’s reluctance to simplify the tax structure. Caroline Baum: Why, after all this time and an extensive body of data, are we still questioning whether reductions in marginal and capital-gains tax rates Continue reading Tax Cuts for the Rich Increases The Taxes They Pay – The Wealthy Are Different Rich Karlgaard (Forbes publisher) eloquently shares his view on why we can’t have multiculturalism as we have it today and also have the rich willing to pay more than their fair share. Rich Karlgaard: Since the 1960s, American and European lefties have wanted two things that are inherently in conflict in a free society. One is greater Continue reading Multiculturalism and the Unwillingness of the Rich to Pay More Than Their Fair Share Money will go, in time and space, where it’s treated well. Money will find its way to locations that offer good property rights laws and low taxes. As laws change and those changes are telegraphed, money and wealth will move in anticipation of those changes. Arthur Laffer, of the Laffer Curve, is the chairman of Laffer Associates and co-author Continue reading Taxes: Money Flows in Time and Space to Where It’s Treated Best While the Commerce Department released a report Friday morning showing another modest increase in personal income in April, the report unexpectedly showed that personal spending came in unchanged compared to the previous month. The report showed that personal income increased by 0.4 percent in April, matching the upwardly revised increase seen in the previous month. Economists Continue reading Household Spending and Saving Appears to be Finding the Happy Medium With growing federal deficits it’s natural that tax rates are going to climb and that the federal government will look for new sources of tax receipts. It’s natural that the Federal government will continue the exercise started with the recent health care reform to find opportunities to tax the rich. And it may be natural that the Continue reading Tax The Rich? But What If The Rich Start To Leave? Times can get tough. Loss of a job. Stock market crash. When times get tough will you be ready? Get ready now for tough times ahead. Rainy Day Fund – Emergency Cash Have a rainy day fund – it can’t be said enough. You absolutely need a financial reserve that you can draw on when times get tough. Continue reading When the Going Gets Tough the Tough Are Going to Be Ready |
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