Your Paycheck Is All Yours Now


Finally, you can keep what you earn. In a new report, the Americans for Tax Reform Foundation and the Cost of Government Center say that the average American has to work more than half of the year to pay the cost of government. This year’s Cost of Government Day — when the average worker has earned enough to pay for government at the Federal, State and local levels — didn’t arrive until July 15 this year. I’m glad unfunded liabilities weren’t included; if they were, the day would never arrive.

House votes to audit the Fed. Last month, the House of Representatives voted overwhelmingly to demand an audit of the Federal Reserve. The Federal Reserve Transparency Act of 2012 passed by a bipartisan vote of 327-98. Representative Ron Paul (R-Texas), who first introduced legislation to audit the Fed in 1983, declared that “The Fed’s trillions of dollars’ worth of asset purchases and its ongoing support of foreign central banks cannot be allowed to continue without Congressional oversight.” Paul said he hopes the Senate will consider the bill before the end of the year. Sadly, I don’t think there’s a chance of that happening.

Giving illegal aliens a free pass. President Barack Obama recently declared that illegal aliens who were brought to this country as children, graduated from high school or earned a GED, and were under the age of 30 would no longer be subject to deportation. Now we’ve learned that anyone can claim to qualify under the new rules. Chris Crane, president of the union representing immigration and customs enforcement agents, testified before Congress: “We believe that significant numbers of people who are not dreamers [qualified under the DREAM Act] are taking advantage of this practice to avoid arrest.” Gee, do you think someone would lie to avoid being deported?

Giving guests some saucy reading. A hotel in England has announced that it’s replacing the Gideon Bible in each guest room with a copy of the soft-porn bestseller Fifty Shades of Grey. Owner Jonathan Denby explained that the replacement “is a ripping good yarn and everyone who’s in the target audience loves it.” If any guest prefers the Bible, he said copies will be available at the registration desk. It’s no surprise that the media loved the story and gave him a million dollars’ worth of publicity.

–Chip Wood 

Personal Liberty

Chip Wood

is the geopolitical editor of 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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