Tag Archives: Middle Class Dismissed

The American Empire vs. Your Retirement Prospects

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“The United States of America is an empire. But it is an empire like no other in history. It is an empire based on giving away money. The general taxpayers are taxed to give the money away, and those who profit from the expansion of the empire are paid by the government to produce the weapon systems which enable the United States government to project power around the world.  The foreign aid system is a system of bribery. It bribes leaders of countries around the world to keep their mouths shut regarding the extension of American power. This extension of power does not benefit the man in the street. It benefits various special interests, especially the military-industrial complex.”

http://www.garynorth.com/public/12411.cfm

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Autism Nation: America’s Chemical Brain Drain

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“In 1981, the autism (ASD) rate in the United States was 1:10,000. In 2007, it was 1:150. In 2009, it was 1:100. In 2012, it was 1:88. In 2014, it is 1:68. At this rate of increase, by 2025 it will be 1:2, or 50 percent. For those of you tempted to think this is just greater awareness and expansion of the criteria for diagnosis, the CDC says that since the 2012 estimate of 1 in 88 children identified with ASD, the criteria used to diagnose, treat, and provide services have not changed, but the rate has increased another 30%.  Meanwhile, autism rates in Europe have remained virtually flat for the last decade. Recent estimates in European countries range from 1 in 5,000 in Germany to 1 in 700 in Portugal.”

http://truth-out.org/news/item/23267-autism-nation-americas-chemical-brain-drain

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Occupational Licensing Unjust, Unneeded, Increases Income Inequality

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“Many government licenses are required of relatively low-skill jobs, and these requirements eliminate the bottom rungs of the economic ladder for many poor and less-educated people.  The Institute for Justice examined licensing requirements for 102 low- and moderate-income occupations such as barber, florist, makeup artist, massage therapist, preschool teacher, shampooer, and tree trimmer in all 50 states and the District of Columbia.  The report found that five of the six states that impose the heaviest licensing burdens in the country are in the West.  Consider, for example, the nation’s most populous state of California, ranked second worst.”

http://blog.independent.org/2014/04/29/why-occupational-licensing-is-unjust/

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The Shocking Truth About Regulatory Costs

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“After years of rapid growth during the Obama administration, the cost of federal regulations is now bigger than the entire economies of all but nine countries in the world. Author Clyde Wayne Crews found that the ‘regulation tax’ imposed on the economy now tops $1.86 trillion. By comparison, Canada’s entire GDP is $1.82 trillion. India’s is $1.84 trillion. [..] The article also notes that on a per-household basis, federal regulatory costs average nearly US$15,000. US regulations are not “capped” nor are they subject to specific legislative oversight. In theory, regulations and regulatory costs can simply continue to grow until they become literally unaffordable.”

http://www.thedailybell.com/news-analysis/35259/The-Shocking-Truth-About-Regulatory-Costs/

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Seemingly terrific April jobs report poses strange puzzle

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“Let’s review. The U.S. added 288,000 jobs in April, the biggest spike since January 2012. The increase in employment is measured by the so-called establishment survey that quizzes private firms, government worksites and nonprofit institutions.  Yet the size of the labor force sank by 806,000. That’s the biggest drop since a 848,000 plunge in October and you have to go all the way back to 1981 to find another 800,000-plus decline. Labor-force changes are measured by the ‘household’ survey that interviews Americans directly.  ‘You have drastically different messages offered by the establishment and household surveys,’ said Stephen Stanley, chief economist of Pierpont Securities.”

http://blogs.marketwatch.com/capitolreport/2014/05/02/seemingly-terrific-april-jobs-report-poses-strange-puzzle/

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The heavy hand of the IRS seizes innocent Americans’ assets

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“Terry Dehko, who came to Michigan from Iraq in 1970, soon did what immigrants often do: He went into business, buying Schott’s Supermarket in Fraser, Mich., where he still works six days a week. The Internal Revenue Service, a tentacle of a government that spent $3.5 trillion in 2013, tried to steal more than $35,000 from Terry and Sandy that year.  Sandy, a mother of four, has a master’s degree in urban planning but has worked in the store off and on since she was 12. She remembers, ‘They just walked into the store’ and announced that they had emptied the store’s bank account.”

http://www.washingtonpost.com/opinions/george-f-will-the-heavy-hand-of-the-irs/2014/04/30/7a56ca9e-cfc5-11e3-a6b1-45c4dffb85a6_story.html

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The Latest Bubble to Pop: Mortgage Refinancings

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“The refinancing game is nearly over.  Just looking at the mortgage side of life, this means that the increase of households’ retained cash flow is unlikely to improve further. For many of the large lenders, it also means a reduction in workforce—a significant one, in many cases—which will impact employment figures and possibly further recovery.  A final note in this saga pertains to household leverage. Common wisdom seems to hold that US households have deleveraged since the mid-2000s crash. Unfortunately, that’s not the case.  In 2008, total household liabilities stood around $14.2 trillion. At the end of 2013, they were $13.8 trillion—a paltry 2.8% decline.”

http://www.caseyresearch.com/cdd/the-latest-bubble-to-pop-mortgage-rates-and-their-butterfly-effect-on-the-e

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Five+ Years of Fed Futility Laid Bare for All to See

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“It has been five-and-a-half years since Lehman Brothers, AIG, Fannie Mae, Freddie Mac, and other casualties of the credit crisis imploded! We’ve been subjected to more than a half-decade of the Fed’s supposedly useful and appropriate medicine … Unlimited money printing.  Zero percent interest rates.  Gargantuan bank bailouts.  Deliberate attempts to inflate stock and house prices.  And for what?  More than $3 TRILLION in extra padding on the Fed balance sheet doesn’t look like it’s done much for the broad economy.  GDP grew just 0.1 percent in the first quarter.   Even that dismal reading was propped up by a massive surge of $43.3 billion in health care spending tied to the Obamacare rollout.”

http://www.moneyandmarkets.com/five-years-of-fed-futility-laid-bare-for-all-to-see-60708

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Surrendering U.S. Citizenship Over New Banking Regulation?

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“68% of the U.S. citizens we surveyed report that they are interested in severing ties with America. A shocking figure? Indeed. It is also supported by official statistics of passport relinquishments. The number of Americans relinquishing their U.S. citizenship surged in the second quarter of 2013, to 1,131 cases, compared with 189 in the same period in 2012.  But it is perhaps not as shocking when you consider that it was U.S. citizens living overseas who were the respondents in deVere’s survey — and that it is the estimated 7.2 million American expatriates and 13 million green-card holders who are the ones who are soon to suffer the serious, adverse effects of the Foreign Account Tax Compliance Act.”

http://www.americanbanker.com/magazine/124_04/bankthink-surrendering-us-citizenship-over-new-banking-regulation-1066813-1.html

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More Renounce US Citizenship but Deny Stereotype

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“Renouncers — whose ranks have swelled more than five-fold from a decade ago — often contradict the stereotype of the financial scoundrel. Many are from very ordinary economic circumstances.  Some call themselves ‘accidental Americans,’ who recall little of life in the U.S., but long ago happened to be born in it. In recent years, federal officials have stepped up pursuit of potential tax evaders, using the Foreign Account Tax Compliance Act. Those trying to comply complain of costly fees for accountants and lawyers, having to report the income of non-American spouses, and decisions by some European banks to close accounts of U.S. citizens or deny them loans.”

http://abcnews.go.com/US/wireStory/renounce-us-citizenship-deny-stereotype-23483402?singlePage=true

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