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Have you ever seen “old people” hold and fondle their paper money? They count it, hide it under the mattress and bury it for safekeeping. Remember my example of the power of inflation? I said that you could bury your paper money 40 miles deep in a sealed concrete vault, and it still could be inflated or devalued to nothing. There is no way to preserve your paper money.
$14 billion in profits, zero in taxes. If you invest in General Electric, congratulations. Your company made $14 billion in profits last year and didn’t pay a penny in taxes. How was that possible? Well, $5 billion in profits in the United States were zeroed out because of a multitude of tax credits (think green energy) and other deductions. And $9 billion was earned and kept overseas, so no taxes were due on that money, either. If this makes you think our tax system stinks, you’re right. Now, what are we going to do about it?
Here’s some news that could turn the entire election upside down. Leading Democrats are urging Barack Hussein Obama to withdraw as a candidate for re-election in 2012, as Lyndon Baines Johnson did almost 50 years ago.
The top American general in Iraq said Monday that al-Qaida and other groups of insurgents may look to increase their operations in the country following the departure of U.S. troops.
One result of the heavily publicized failure of the Congressional budget reduction supercommittee could be a smaller paycheck for every working American. The extension of a payroll tax cut which was passed last year and is scheduled to end next year without action was supposed to be discussed by the group.
Confronted earlier in the week by Occupy protesters during a speech on jobs at a high school in Manchester, N.H., President Barack Obama offered the movement an endorsement of sorts.
Congress recently blocked a $322 million measure that would have created a new Federal bureaucracy to make long-term climate forecasts similar to the short-term forecasts provided by the National Weather Service.
Over the past year, the growing computer surveillance industry has made great strides in creating software that may encourage computer users to unknowingly install surveillance viruses on their personal machines.