Daily Archives: 14 April 2010

WSJ shills for big government

The Wall Street journal reports (here) that

The U.S. government’s rescue of wobbly companies and financial markets is starting to look far less expensive or long-lasting than once feared.

As momentum grows at companies that looked like zombies just a few months ago to repay taxpayers for lifelines they got during the financial crisis, the projected cost of the bailout is shrinking to just a fraction of previous estimates. Treasury Department officials say the tab is likely to reach $89 billion, which includes the Troubled Asset Relief Program, capital injections into Fannie Mae and Freddie Mac, loan guarantees by the Federal Housing Administration and Federal Reserve moves such as buying mortgage-backed securities and propping up the commercial-paper market.

completely ignoring the Fed’s balance sheet which ballooned by over $2 trilling since January.

About 47 percent will pay no federal income taxes at all for 2009

Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That’s according to projections by the Tax Policy Center, a Washington research organization.

Most people still are required to file returns by the April 15 deadline. The penalty for skipping it is limited to the amount of taxes owed, but it’s still almost always better to file: That’s the only way to get a refund of all the income taxes withheld by employers. (Read more from finance.yahoo.com)

See also:

US is only 3% of the population away from officially being a nation of looters

Dear Rich People, The IRS Chief Announced A New, Globalized Effort To Go After You

Christian news organization CNSNews.com has the skinny on a speech from Douglas Shulman at the National Press Club on a new globalized effort to go after the networks of the rich.

“Through our new global high wealth operating unit we are taking a unified look at the entire web of business and economic entities controlled by high wealth individuals so we can better assess the risk such arrangements pose to tax compliance,” Shulman said at the National Press Club on Monday.

Shulman said the IRS is using “our robust and evolving enforcement program that ensures that everyone pays what they owe.”

This is the part that will really raise people’s hackles, perhaps even among the non-rich:

“This brings me to another important development–a game-changing trend–the globalization of tax administration,” said Shulman.

The black helicopters go global!

(Read more from businessinsider.com)

Wealth is not evil. In a free economy, the wealthy are the people who provide the things everybody else wants. Typical of government is to make war on the providers of society. I am reminded of the stories my family in Ukraine told me. They were persecuted because they had the knowledge, ability and work ethic to build and run a flaxseed oil mill.

Fluoride to stay in Iowa City water

Iowa City residents will continue to drink fluoride along with their tap water.

After considering concerns raised by some residents, City Council members said at this evening’s work session they’ve found no reason to drop the practice.

“Not seeing in my mind enough significant statistical data to imply harm, I’m not prepared” to end the practice, Councilmember Sue Mims said. (Read more from infowars.com)