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Economy

Biden: Yes we do want to want to raise taxes by $1 trillion

He says it will happen by letting the tax cuts expire so that the wealthy pay more.  But the thing is, when the tax cuts expire, almost everyone will pay more.  Those in the 10% bracket will be bumped up by 5% to be lumped in with those making below $35K per year.  Everyone making more than that will pay 3% more in personal income taxes with the exception of the "super wealthy" who make over $382K.  Those folks, who already pay the vast majority of taxes, will be asked to pay almost 5% more.  I don't know how that makes it fair.  Fair would be if everyone was asked to pay the same percentage.  That way, as income increases so does the amount paid in taxes.   anyone?


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American Crossroads: Quantum of Easing


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Small government and free-market capitalism trials in Honduras

sounds like an interesting experiment.  I am curious to see how it turns out.

 is very appealing to me. It almost sounds like Galt's Gulch:

Small government and free-market capitalism are about to get put to the test in Honduras, where the government has agreed to let an investment group build an experimental city with no taxes on income, capital gains or sales.

Proponents say the tiny, as-yet unnamed town will become a Central American beacon of job creation and investment, by combining secure property rights with minimal government interference.

“Once we provide a sound legal system within which to do business, the whole job creation machine – the miracle of capitalism – will get going,” Michael Strong, CEO of the MKG Group, which will build the city and set its laws, told FoxNews.com.

Strong said that the agreement with the Honduran government states that the only tax will be on property.

“Our goal is to be the most economically free entity on Earth,” Strong said.

The laws in the city will be separate from those in the rest of Honduras. Strong said that the default law that will be enforced in the city will actually be based on Texas state law, which has relatively few regulations.

Romney campaign: QE3 is 'confirmation Obama's policies have not worked'

Gee, I wonder if the jump in gold and silver has anyting to do with the Fed's decision to further devalue the dollar?   from the Romney campaign on the announcement of QE3.

relays a statement from Romney campaign policy director Lanhee Chen, in response to Thursday's announcement that the Federal Reserve will launch another round of quantitative easing:

"The Federal Reserve's announcement of a third round of quantitative easing is further confirmation that President Obama's policies have not worked.  After four years of stagnant growth, falling incomes, rising costs, and persistently high unemployment, the American economy doesn't need more artificial and ineffective measures.  We should be creating wealth, not printing dollars.  As president, Mitt Romney will enact bold, pro-growth policies that lead to robust job creation, higher take-home pay, and a true economic recovery."  (Emphasis mine.)

As Business Insider notes, Romney has previously said he didn't think "a massive new QE3 will help the economy," and believes QE2 did not have "the impact that they were hoping for."

Rep. Kelly's speech on American job creation and red tape

Afterburner with Bill Whittle: It's a Miracle!

Is the economy being intentionally sabotaged?

From :

What you are about to read is not only frightening, but unfortunately for America also true. This article will present a very strong argument that shows that most of Barack Obama’s decisions regarding the economy have been made intentionally. I will back up my claims with facts and statistics while giving clear and concise examples of each.

Some of you may be familiar with the Cloward and Piven Strategy but most of you have not. If you are a limited government, freedom loving, patriotic American like me, then you will want to continue reading. This article may anger, scare, and shake some of you to the very foundation of your core. If it has that effect on you, then I did my job. Medicine is not supposed to taste like cherries and bubble gum; it is supposed to be bitter and tough to swallow. The nastier it tastes, usually the more effective it is. Consider this your first dose.

What is the Cloward and Piven Strategy?

Richard Andrew Cloward and Frances Fox Piven were two married sociology professors at Columbia University in New York. In 1966, they wrote an article titled, “The Weight of the Poor: A Strategy to end Poverty.” The article was published in the very left leaning publication, The Nation.

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by Dr. Radut