The Obama administration is considering a plan to tax drivers on the amount of miles they drive. The tax could be enforced by installing equipment in vehicles to track usage, and payments could be made at service stations. [View news story]
How much longer will we have to put up with this Nazi !
Does the inheritance tax help or hurt the economy and the country? Is the tax fair to heirs, not to mention the people who worked and saved for decades to build up those assets? Yes, it's fair - and in this economy, we need the revenue - or, no, it's unfair - encouraging the rich to waste their wealth and creating a barrier to others who need capital. [View news story]
Death should NOT be a taxable event. Do not try and rationalize reasons why it would be beneficial to confiscate money from one's estate. There is no justification. The redistribution of wealth mindset is out of control.
Under a little-noticed provision of the new financial legislation, the SEC no longer must comply with nearly all requests for information releases from the public, including those filed under the Freedom of Information Act. Congress and federal agencies can request information, but the public cannot. [View news story]
That's what you call HOPE, CHANGE and TRANSPERANCY.
President Obama says the 10-year fee on financial institutions he is proposing this morning is intended to "recover every single dime the American people are owed." [View news story]
Translation: I need more money in the Treasury so that I can implement more of my Socialist programs.
After some remarks on Japan's earthquake, President Obama is speaking live about potential new domestic oil development and other measures to address energy prices; he says new production can't come on line overnight and that the government is ready to tap emergency reserves if needed. [View news story]
Never let a crisis go to waste. In fact, do everything you can to help create the crisis and then stand up and give speeches about solving the problem. What a joke.
Medicare will gain an extra 12 years of fiscal life thanks to the new health reform law, a government report says - "a very substantial improvement in our long-term fiscal position” Geithner says, “much larger than anything we have considered." [View news story]
Unfortunately, we the patients will lose 12 years off of our life thanks to the new health reform law.
A government report due out today is expected to show that 75% of the oil from the Gulf leak has already evaporated, dispersed, been captured or otherwise eliminated, and that much of the rest is so diluted that it doesn't seem to pose much additional risk of harm. [View news story]
God is in control of His wonderfully designed planet Earth. Not man. This is just another example of that fact.
The February jobs number, to be reported March 5, is likely to be very bad, due to snow. If it is, says Floyd Norris, that will prove exactly nothing about how the economy is actually doing. [View news story]
Obama can blame the poor jobs report on "climate change".
Former IBM CEO Louis Gerstner urges regulators to shut down the Wall Street casino by taxing daytrading gains by 80%. Six-months later, it should be 60%. And five-year gains should be tax free, he says. (via) That's one way to bring back buy-and-hold in a hurry.[View news story]
Former Fed chairman Greenspan says the recovery is "extremely unbalanced," driven by people with high incomes as stock prices recovered. Small businesses and low-wage earners are still suffering from "by far the greatest financial crisis globally, ever." [View news story]
Correction: "driven by people with high incomes that pay a lot of taxes to the Treasury which re-distributes it into the economy in very idiotic ways, know as stimulus."
Goldman Sachs' (GS) CEO explains why he pays more: It's because my guys make more money, duh. "What people fail to mention is that net income generated per head is a multiple of our peer average. The people of Goldman Sachs are among the most productive in the world." [View news story]
And when you lose more money than the other guys, the taxpayers are there to back you up. Nice arrangement. Heads, you win. Tails, we lose.
Sen. Chuck Schumer endorses the own-to-rent proposal, which would let homeowners who can't afford mortgage payments remain in their homes as renters. Felix Salmon thinks it's a great idea; others demur. [View news story]
Just another STUPID plan out of Washington which will delay the inevitable pain to come.
Buffett warms to a second stimulus: "The first stimulus bill was sort of like taking a half-tablet of viagra and also having a bunch of candy mixed in." [View news story]
If the first "stimulus" had been focused on true stimulus to the economy rather than Obama using it as an open door to fuel more big government, we wouldn't need a second stimulus. No accountability. Sad state of affairs.
Sen. Blanche Lincoln pushes for a change in financial reform legislation that would benefit a single bank in her home state of Arkansas, one mainly owned by the Walton family. Under Lincoln's proposed change, the bank would be excused from a provision that could require banks to raise more capital. [View news story]
We here in America have the best government money can buy, as Bob Brinker often says. This is just another example of that fact !
Obama asks Congress to press ahead with a health-care reform bill, calling for an "up or down [vote] with nothing more than a simple majority" in the next few weeks. (Text) (ETF: PPH) [View news story]
The Obama administration is considering a plan to tax drivers on the amount of miles they drive. The tax could be enforced by installing equipment in vehicles to track usage, and payments could be made at service stations. [View news story]
Does the inheritance tax help or hurt the economy and the country? Is the tax fair to heirs, not to mention the people who worked and saved for decades to build up those assets? Yes, it's fair - and in this economy, we need the revenue - or, no, it's unfair - encouraging the rich to waste their wealth and creating a barrier to others who need capital. [View news story]
Under a little-noticed provision of the new financial legislation, the SEC no longer must comply with nearly all requests for information releases from the public, including those filed under the Freedom of Information Act. Congress and federal agencies can request information, but the public cannot. [View news story]
President Obama says the 10-year fee on financial institutions he is proposing this morning is intended to "recover every single dime the American people are owed." [View news story]
After some remarks on Japan's earthquake, President Obama is speaking live about potential new domestic oil development and other measures to address energy prices; he says new production can't come on line overnight and that the government is ready to tap emergency reserves if needed. [View news story]
Medicare will gain an extra 12 years of fiscal life thanks to the new health reform law, a government report says - "a very substantial improvement in our long-term fiscal position” Geithner says, “much larger than anything we have considered." [View news story]
A government report due out today is expected to show that 75% of the oil from the Gulf leak has already evaporated, dispersed, been captured or otherwise eliminated, and that much of the rest is so diluted that it doesn't seem to pose much additional risk of harm. [View news story]
The February jobs number, to be reported March 5, is likely to be very bad, due to snow. If it is, says Floyd Norris, that will prove exactly nothing about how the economy is actually doing. [View news story]
Former IBM CEO Louis Gerstner urges regulators to shut down the Wall Street casino by taxing daytrading gains by 80%. Six-months later, it should be 60%. And five-year gains should be tax free, he says. (via) That's one way to bring back buy-and-hold in a hurry. [View news story]
Former Fed chairman Greenspan says the recovery is "extremely unbalanced," driven by people with high incomes as stock prices recovered. Small businesses and low-wage earners are still suffering from "by far the greatest financial crisis globally, ever." [View news story]
Goldman Sachs' (GS) CEO explains why he pays more: It's because my guys make more money, duh. "What people fail to mention is that net income generated per head is a multiple of our peer average. The people of Goldman Sachs are among the most productive in the world." [View news story]
Sen. Chuck Schumer endorses the own-to-rent proposal, which would let homeowners who can't afford mortgage payments remain in their homes as renters. Felix Salmon thinks it's a great idea; others demur. [View news story]
Buffett warms to a second stimulus: "The first stimulus bill was sort of like taking a half-tablet of viagra and also having a bunch of candy mixed in." [View news story]
Sen. Blanche Lincoln pushes for a change in financial reform legislation that would benefit a single bank in her home state of Arkansas, one mainly owned by the Walton family. Under Lincoln's proposed change, the bank would be excused from a provision that could require banks to raise more capital. [View news story]
Obama asks Congress to press ahead with a health-care reform bill, calling for an "up or down [vote] with nothing more than a simple majority" in the next few weeks. (Text) (ETF: PPH) [View news story]