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Fleeing Taxes, A Smart Machine, Eating His Words And Newsweek

January 21, 2011 by  

*If I lived there, I’d flee, too. Pity the poor folks in Illinois; they just got slapped with the largest tax increases in their history. Their legislature just hiked the state income tax by an astronomical 67 percent. Business taxes were raised an eye-opening 50 percent. No wonder the folks in the state above them are running ads saying “Escape to Wisconsin.” Wisconsin has actually promised to reduce taxes. Guess which one will get more new taxpayers?

*That’s one smart machine. IBM has done it again. Thirteen years ago it designed a computer called Deep Blue that beat world chess Champion Gary Kasparov. Now it’s done something even more remarkable. Its latest box of silicon and computer chips, nicknamed Watson after the IBM founder, defeated three Jeopardy champions. One of the answers under “Chicks Dig Me” was “Kathleen Kenyon’s excavation of this city mentioned in Joshua shows that the walls had been repaired 17 times.” Would you have answered “Jericho”? Watson did. And faster than his competitors.

*Hey, Chuck, bet you have to eat those words.  This is from a Chip Shots two years ago, when New York’s Senator Charles Schumer dismissed any concerns about bloated Federal spending by saying, “To all of the chattering class, that so much focuses on those little, tiny, yes ‘porky’ amendments: The American people really don’t care.” Bet you find out next election how much they do, Charlie.

*Newsweek had it wrong, too. That same Feb.19 Chip Shots also contained this gem. “In case you haven’t seen the current cover of Newsweek, in gigantic type it proclaimed ‘We’re all socialists now.’ Maybe everyone at the Newsweek  office finally admits to being a socialist.” But I said then, and repeat gleefully now, there’s a whole bunch of folks in the real America who still believe in free enterprise. P.S. In case you missed the news, Newsweek’s circulation and paid advertising are down substantially.

–Chip Wood

Chip Wood

is the geopolitical editor of PersonalLiberty.com. He is the founder of Soundview Publications, in Atlanta, where he was also the host of an award-winning radio talk show for many years. He was the publisher of several bestselling books, including Crisis Investing by Doug Casey, None Dare Call It Conspiracy by Gary Allen and Larry Abraham and The War on Gold by Anthony Sutton. Chip is well known on the investment conference circuit where he has served as Master of Ceremonies for FreedomFest, The New Orleans Investment Conference, Sovereign Society, and The Atlanta Investment Conference.

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