Term limits need to happen. ====== By DAVID MALPASS Whatever ultimately emerges from the fiscal-cliff negotiations over the past 48 hours, the country will survive. But the damage can’t be undone. Taxes are going up for all working Americans. And so is the size of government. Businesses have been waiting to see whether a second Obama administration will encourage the economy. During the fiscal-cliff... Read more
Archive for the ‘Debt’ Category
Soak the Rich! (What rich?)
December 3 | Posted by mrossol | Debt, EconomicsThe Gov obviously miscounted something… ======== A funny thing often happens on the way to soaking the rich: They don’t stick around for the bath. Take Britain, where Her Majesty’s Revenue and Customs service reports that the number of taxpayers declaring £1 million a year in income fell by more than 60% in fiscal 2010-2011 from the year before. That was the year that... Read more
Debt is Even Deeper Than Most Think
December 3 | Posted by mrossol | Debt, EconomicsLetters to the Nov. 27th story “Why $16 Trillion Only Hints at the True U.S. Debt” by Chris Cox and Bill Archer. ==== While “Why $16 Trillion Only Hints at the True U.S. Debt” by Chris Cox and Bill Archer (op-ed, Nov. 27)is on the mark, it doesn’t tell the complete story. Although it is true these amounts aren’t included in the... Read more
The 10% President
September 25 | Posted by mrossol | Debt, Economics, ObamaYep, 90% of the problem is someone else’s fault. ============ A question raised by President Obama’s immortal line on CBS’s “60 Minutes” on Sunday—”I think that, you know, as President, I bear responsibility for everything, to some degree”—is what that degree really is. Maybe 70% or 80% of the buck stops with him? Or is it halfsies? Nope. Now we know: It turns... Read more
GM discounted the Volt How Much!?
September 24 | Posted by mrossol | Debt, Economics, EnvironmentThe rest of the story… ============ DETROIT (AP) – General Motors rolled out the Chevrolet Volt two years ago with lofty sales goals and the promise of a new technology that someday would help end America’s dependence on oil. So it seemed like a good thing in August when sales of the $40,000 car set a monthly record of 2,800. But a closer... Read more
Desperately Seeking Middle-Class Taxes
September 6 | Posted by mrossol | Debt, Economics, Tax Issues“Truth in Lending?” ====== Democrats in Charlotte are pounding away at the savage budget cuts that Mitt Romney and Paul Ryan supposedly favor and their phantom plan for “raising taxes on the middle class,” as President Obama puts it. The truth is the opposite, but table that for a moment. The President seems not to realize his critique is really a scorching... Read more
