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Obama Trying To Drop Hammer On Retirement Planners

Posted on February 22, 2014

President Barack Obama plans to ask Congress in early March, as part of his fiscal 2015 budget, to reduce some of the tax advantages for employer-sponsored retirement plans for higher-income earners, according to published reports. Plus, the president wants to limit the value of all tax deductions, defined contribution exclusions and IRA deductions to 28% […]

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House Votes to Give Obama Relief.

Written by Gary North on December 13, 2013

House Republicans fell in line. They voted to drop the sequester that Obama had agreed to in 2011. This was a major symbolic victory for the Democrats. The Republican leadership is no longer a threat on the deficit issue. As for the Tea Party, about one quarter of voters are favorable, a quarter are opposed, […]

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I Want You to Send Me $1,000. OK?

Written by Gary North on December 3, 2013

People ask me to do this. I thought I would ask you. Dear Dr. North: You have never heard of me. Please send me $1,000. Thanks. Billy Joe Jones This sounds like a nutty letter. I have never received such a letter. Let me rewrite it. Dear Dr. North: You have never heard of me. […]

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Shutdown: ObamaCare (No) and the Federal Government (No)

Written by Gary North on September 24, 2013

The House of Representatives is making a symbolic attempt to shut down ObamaCare. The members know that they cannot get this through the Senate. Obama would veto it even if they could. Why are they doing this? Because they can. They can let the voters back home know that they are taking a stand. They […]

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Cooked Books: Debt Limit Pushed Out Another Six Weeks

Written by Gary North on August 27, 2013

The U.S. government’s debt has been locked in at this implausible limit for three months: $16,699,396,000,000. The Secretary of the Treasury says that it will not hit the ceiling until mid-October. The BBC reports this. The country’s borrowing limit is currently capped at $16.7tn (£10.7tn). “Extraordinary measures are projected to be exhausted in the middle […]

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Fake Government Statistic: It Costs $241,000 to Raise a Child

Written by Gary North on August 15, 2013

The U.S. Department of Agriculture issues this statistic every year. Reporters dutifully report it. There is no more misleading statistic that the government releases each year. It is clearly preposterous. It is never challenged by the media. No one asks this: “Why should the USDA be gathering these statistics?” Food absorbs less than 20% of […]

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Budget: Obama Pretends to Surrender.

Written by Gary North on April 5, 2013

President Obama’s budget was due in February. It is now promised for next week. Of course, key facts — all favorable to Obama — have been conveniently leaked. The media play along. There will be changes in Medicare that will save $400 billion. Then comes the inevitable qualification: over the next 10 years. This is […]

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