Cheapo Groovo

Internet Sales Tax = GIANT GOVERNMENT REVENUES!

Senator Joe Donnelly propaganda below:

As you may know, S. 336, the Marketplace Fairness Act, was introduced on February 14, 2013. If enacted into law, this bill would establish the framework for states and localities to enforce sales taxes on Internet sales to level the playing field between local small businesses and retail stores and the online market. During the Senate budget process, amendments to implement the Marketplace Fairness Act were introduced. I joined with a bipartisan group of 75 Senators to support amendments that would level the playing the field for businesses and ensure that states and localities are able to enforce local sales taxes on remote Internet sellers.

The truth below:

Local small businesses and retail stores also have an online presence so what does he mean by "even the playing field"?

Indiana stands to gain $114 million if passed.

USA Borrowing Costs Increase Once Again

Stat: For every tril­lion dollars the gov­ern­ment bor­rows, a one basis point increase in inter­est rates trans­lates to an extra $100 million in annual bor­row­ing costs.

Looking at the 10 year Treasury, it went from 1.756% on January 1st to to 1.863% today. That is 11 basis points!

January 31st UPDATE

The 10 year is just under 2% (1.99%). That's another 13 basis points. So add $1.3 billion in annual interest.

Understanding the Chinese Economy

CNBC touts the benefits of investing in FXI: iShares FTSE China 25 Index Fund. But to understand China's 7% to 9% growth rate, you need to dig deeper.

Today, more than 25 million Chinese men are finding themselves facing singledom, and the major factor is the abortions of females as state policy.

Liberal media like PBS focus on the forced prostitution, illegal marriages, abductions and trafficking of women. But the Chinese government asks what do idle men do with their testosterone besides violent revolution.

So the centrally planned economy produces ghost towns, railways to nowhere, and 45 empty airports.

Have a safe deposit box? READ THIS NOW!

Homeland Security and the IRS can force the bank to open it w/o your knowledge or consent. If there is a bank run and banks close, how do you get to your box? If something does go wrong, banks will pay 500 times the amount of your annual rental fee - read the agreement you signed!

 

How To Hide Your Cash

Derivative Danger Lurks in 2013

I wrote about this before, but my words have not been heeded! So let me remind you of the reality once again. $600 trillion in gross notional derivatives backed by a tiny $600 billion in real assets: a whopping 0.1% margin requirement!

And instead of calling for justice, we are accepting austerity!

Numerous top economists say that the bank bailouts are the largest robbery and redistribution of wealth in history.

Why was this illegal?   Well, the top white collar fraud expert in the country says that the Bush and Obama administrations broke the law by failing to break up insolvent banks … instead of propping them up by bailing them out.

The Treasury Secretary lied to Congress regarding some fundamental aspects of Tarp – like pretending that the banks were healthy, when they were totally insolvent.  The Secretary also falsely told Congress that the bailouts would be used to dispose of toxic assets … but then used the money for something else entirely.  Making false statements to a federal official is illegal, pursuant to 18 United States Code Section 1001.

Taxpayers Lose $15 billion on GM bailout

Nanny government made almost $23 billion on the AIG bailout, but those gains will be offset by this big loss:

GM announced it would buyback 200MM shares from the US government at a price of $27.50. This implies a nearly 50% loss on the government's breakeven price of $54.

Full Article

Rigged Financial Markets

I covered this topic before here  here here and here. But is is always a good idea to remind blog readers that the global elite control everything and a true free market exists in concept only.

• Germany’s stocks market is up about 30 percent year-to-date.  Germany’s GDP is expected to grow less than one-percent this year!
• Back in September 2012 the SEC charged the NYSE with a violation of prop feeds to proprietary customers before it went to the public.  In other words, they were giving data to the big boys before the public was getting it.
• Knight Capital Group lost $440 million when it sold all the stocks it accidentally bought because a computer glitch.Now they are up for sale!
• The SEC wants high frequency traders.
• Companies simply increase their market share and stock prices around patent litigation. The outcome of which is completely unpredictible for stock investors.

AIG Bailout = All In Government's Hands

The U.S. Treasury Department said Tuesday that it has sold all its remaining shares of American International Group (AIG), moving to wrap up the government's biggest bailout of the 2008 financial crisis. With this sale, Treasury said the government has received $22.7 billion more than the $182 billion bailout it provided to support AIG.

Ok, let me try to wrap my head around this one. We pay taxes to the treasury, which then invests our money in failing firms. Hedge funds bid the stock back up because of the government backstop. The treasury makes a huge windfall profit, and the taxpayers see nothing from it!

$600 for Energy Efficient Lighting is NO Bargain!

 Beginning on January 1, 2012, the only available choices will be poisonous compact fluorescent (CFL) bulbs, which are loaded with toxic mercury, or expensive light-emitting diode (LED) bulbs, which a recent CNET article explains will cost roughly $15 a piece for the 60-watt variety.

Sure, you might save a few bucks every month on energy costs, and the LED bulb may last a little bit longer, but $15 is a hefty price to pay for a single light bulb when considering that, according to the US government's Energy Star program, the average US household has over 40 light sockets.

The Best Tax System

0%.

Did you know that we had no federal income tax until 1913 and no withholding until 1943. So what did we do until then to operate?

If we need a system, it should be a flat tax on all income (including passive income such as capital gains, dividends, MLP distributions, etc.). We could make the rate 35% but exempt the first 30K of income (the yellow line).