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Nothing Doing

April 20, 2012 by  

Our do-nothing Senate. One of Barack Obama’s most popular campaign themes this year will be to denounce a “do-nothing” Congress. But in fact, the Republican-controlled House has passed plenty of important legislation, including tax cuts, jobs bills and a budget. It’s the Democratic-controlled Senate that’s been sitting on its hands. A report from the Secretary of the Senate said last year’s group is among the least productive in 20 years, with fewer bills passed, fewer roll-call votes taken and fewer amendments introduced. I guess we should be glad we’re not getting all of the government we’re paying for.

Now that’s a funny line. James Taranto, who writes the “Best of the Web” column for The Wall Street Journal, cracked me up when he wrote that someone on Obama’s staff should remind the president that “the symbol of America is not the bald ego.” That’s a good one, James.

Tax refunds used for bankruptcy filings. A National Bureau of Economic Research study shows that more than 200,000 taxpayers expecting a refund from the Internal Revenue Service will use the money to file for bankruptcy. Filing costs and legal fees average $1,477, according to the U.S. Government Accountability Office. Last year, the average tax refund was $2,913, according to NBER. It’s good to know some folks will have a little money left over.

–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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