Politics

Superpower Role Reversal And The Flat Tax Miracle

January 11, 2013August 4, 2016 by Chris Banescu

Russia Flat Tax Capitalism Freedom by Jeff Haden –
While the U.S. punishes millionaires, Russia and China reward them. In the upside-down era of Barack Obama, the capitalists act like communists and the communists act like capitalists.

Our multimillionaire president frowns on “millionaires and billionaires” and soaks them with higher taxes. But Russia loves them and even offers refugees of high-tax countries asylum.

Last week, the Kremlin, once headquarters of the Evil Empire, granted millionaire French actor Gerard Depardieu Russian citizenship so he can avail himself of Russia’s 13% flat tax and avoid his home country’s proposed new 75% supertax on millionaires. [Read more…]

Economy Is Tanking; Why Are Markets Up?

July 28, 2012July 30, 2012 by Chris Banescu

Markets Up Mitt Romney Responsible by Chris Banescu –
The latest economic data released Thursday confirms what all Americans, especially business owners, already knew. Economic growth has slowed down to a measly 1.5% (from 2% the previous quarter), job growth continues to languish with nationwide unemployment at a dismal 8.2%, consumer confidence has fallen to its lowest level this year, and consumer spending is also tanking. Household purchases, which represent approximately 70% of GDP, grew at the slowest pace in a year. Recent surveys show that Americans have lost approximately 40% of their net worth in the last few years, and poverty rates are reaching levels not seen in this country since the 1960s.

So, why are the markets up? [Read more…]

Inflation, Back to the ’70s We Go!

March 17, 2011March 18, 2011 by Chris Banescu

Conservatives warned about it, economists predicted it, and now it’s here. Inflation has arrived and it’s taking off like a rocket. IBD reports that wholesale prices, often a precursor to consumer prices, rose at an yearly rate of 8% in February. The story warns: “Food prices today are the highest on record, rising at double-digit rates (see chart). Meanwhile, gasoline tests the $4-a-gallon level, the dollar is weakening and gold is near its all-time high.”

This ominous surge is attributable to very high energy and food prices driven mostly by our government’s reckless spending that’s accelerating rather than abating. Combined with Obama’s suicidal energy policies, continuing political instability across the Middle East, the government’s stifling regulatory hold on our economy, the EPA’s assault on manufacturers and energy producers, and the recent catastrophe and devastation in Japan, a dangerous perfect storm of inflationary and destabilizing factors are emerging which will spell disaster for our economy and negatively affect all American consumers’ purchasing power and wealth. [Read more…]

Budget Cuts Lingo, Stranger Than Fiction

March 10, 2011March 17, 2011 by Chris Banescu

Budget Cuts Sanity vs Insanity Yesterday, the Senate Democrats soundly defeated the attempts by the Republicans in the House to implement a very minute cut for the 2012 federal budget. Referring to the approximately $61 billion that the GOP was recommending (a mere 1.6% when compared to the $3,700 billion budget being proposed) the Democrats “emphatically rejected a budget-slashing House spending bill as too draconian.”

Yes, you read that right, a 1.6% cut is deemed “draconian.” The party of “it depends on what the definition of “is” is”, is once again re-defining the meaning of language and distorting reality to promote its scorched earth political agenda. [Read more…]

The Obama Recovery

August 23, 2010August 24, 2010 by Chris Banescu

8/23/2010 – Jeffrey Folks –

During the same week in which the president was vacationing in a $50,000-per-night home in Martha’s Vineyard, half a million Americans were standing in line, waiting their turn to apply for unemployment benefits. Those benefits are about $400 a week, not enough to put food on the table, pay the mortgage and car payments, and cover medical and other expenses. Not only that, but they run out (or used to) at 26 weeks. Even with Congress’s election-year largesse, which has tacked on an additional 73 weeks, unemployment benefits must run out at some point. More and more Americans — those who have begun calling themselves the 99ers — are now arriving at that point. [Read more…]

The New York Times, Cheerleader for Higher Taxes

August 12, 2010August 12, 2010 by Chris Banescu

In what can only be described as a partisan, pro-Obama puff piece, The New York Times has now proclaimed on its Economix Blog that tax increases are the best way to “stimulate” our economy and help America reach “fiscal sustainability”:

The single biggest step our government could take this year to address the structural deficit would be to let the tax cuts expire. And a credible commitment to long-term fiscal sustainability should reduce interest rates today, helping to stimulate the economy.

[Read more…]

Obama Buying More Union Votes With Your Tax Dollars

August 11, 2010August 11, 2010 by Chris Banescu

President Obama has pledged more of your money to protect the unions and secure their vote. The administration demanded and got $26 billion taxpayer dollars to spare 300,000 teachers and other public workers from the unemployment lines.

The hundreds of billions of taxpayer money already spent by Obama and the Democrats since 2009 to pay off their union supporters was apparently not enough. Despite giving $100 billion in new funding to the Department of Education (DOE), courtesy of The American Recovery and Reinvestment Act (ARRA) of 2009, in addition to the $25 billion bailout that saved the GM and Chrysler auto union workers, more is needed to thank them for their continuing support and unquestioning loyalty.[Read more…]