You can fool nearly all the people…

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Taxes

World’s 19th largest economy – San Francisco Bay – now qualifies for Opportunity Zone status, because its median income is “only” $117,000

It’s tax season for the peons, but while you are wondering where your money is going, a few developers and bankers are chuckling. San Francisco Bay has been designated an official Opportunity Zone – containing areas where you can invest, make a fortune and pay no taxes – income or otherwise. The IRS describes the deal this way: Opportunity Zones are designed to spur economic development by providing tax benefits […]

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VAT is another big reason our factories are closed, and the good jobs have gone overseas

While the public is focused on tariffs and pundits are bemoaning the dangers of a “trade war,” our foreign competitors have the last laugh every day, watching our factories close and our colleges over-qualify future pizza delivery peons. It doesn’t have to be that way. In fact, it’s easy to see a solution. Here is one unfair trade example. Germany and the European Union charge a 10% tariff on cars […]

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Trump keeps his enemies close, friends distant – the result confuses everyone, including his base voters

The average American could care less who is the President or which party has control of Congress, but everyone who watches the news is confused about what Donald Trump really believes. The only sure and consistent Trump initiative has been the 2018 Budget to cut taxes for big corporations – dropping their income tax support of public services from 35% to 21% of profits, and introducing a territorial system so […]

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Federal Reserve is now big part of National Debt for bailing out banks; Social Security $$ not owed to us?

What government pretends to owe… The Social Security Trust Fund of some $2.8 trillion is often listed in charts – such as the one above – as part of the National Debt. This particular graphic, the latest available, is from the Federal Reserve, an institution that is part of the huge debt and is owed $2.465 trillion by taxpayers. The difference between the Social Security “debt” and the Fed debt […]

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Everyone was watching the girl in the teeny bikini, just like the public is now looking for a big tax cut

As I entered the general manager’s office in the Gimbel’s Cheltenham department store, the mood was surly. Picking up an ad for my Philadelphia newspaper was usually pleasant. Sometimes conversation about merchandising for the 250,000 square foot emporium. Other times small talk and smiles, but not today. It was a Spring afternoon in the late 1970s, and two hours earlier a tall blonde, wearing only a string bikini and high […]

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If your family was as rich as the Waltons, you could easily buy Buckingham Palace over and over again

Some one million Walmart employees in the United States will have their meager pay supplemented this year with a bonus averaging $400, thanks to the lapse of usual parsimony by the owners of the world’s largest retailer – the Walton family. That total $400 million is $71 million less than the cost of the bottom two estates ($222 million and $249 million) in the above video of the five most […]

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Trickle, trickle, fools we are, to trust the rich, now flush with cash, will share with us their bounty

The inlaid walnut table in the corporate boardroom held 12 on either side and two or three at each end, and the execs were all perched, prepped to pounce, when I dragged in my 2001 budget – 1015 pages of spreadsheet and other sheet. As division CEO of a NYSE-listed publishing company with nearly a billion dollars sales, my pitch was explain how I would increase sales, restrain costs and […]

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Middle class seniors forced to pay for that 40% corporate tax cut with reductions to Medicare

Happy holidays came a few days early for big corporations and rich shareholders. Their income tax rate in 2018 will drop from 35% to 21% – exactly a 40% decrease. Next year, Medicare premiums will go from $109 to $134 per month – a 23% increase in one year. This additional deduction from Social Security benefits wipes out the proposed minimal 2% cost of living increase for most seniors, leaving […]

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