Where did your tax dollars go after last April 15?

If you wonder where each of your tax dollars go, the following figure from The Heritage Foundation gives you an accurate picture of the expenditures greater than 1% of the total taxes. Please note the nearly 33% discrepancy between the amount collected on tax day and the amount spent during the year – almost $10,000 per household more – adding $1.1T to our children and grandchildren’s debt. Excerpt: According to the federal Taxpayer Advocate in its 2012 report, Americans’ cost of complying with today’s complex tax code...

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Cyprus could tax people’s bank accounts for EU bailout

The mainstream media always mocks conservatives’ caution about what big government spending can lead to. The doubters finally got to see what could result with too much progressive government. The European Union’s demands have pushed the Cyprus government to consider forcing Cypriot bank depositors to pay up to 10% of their bank deposits as a tax in exchange for a $13B bailout from Europe. Did the progressive loving Cyprus people gleefully accept their fair share? No, they swarmed the banks, forcing the government to shut them...

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Obama declares we are not a deadbeat nation – really?

The Associated Press in today’s Rockford Register Star article, “Obama: Fight imperils elderly’s checks,” continues the media’s misrepresentation of the facts concerning default on Social Security, unless Congress raises the debt ceiling or the legal borrowing limit. Excerpt: Declaring “we are not a deadbeat nation,” President Obama warned on Monday that Social Security checks and veterans’ benefits will be delayed if congressional Republicans fail to increase the government’s borrowing authority in a looming...

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Obama, French Socialist Francois Hollande – a “better fit”

The New York Times, not exactly a conservative think tank, suggests that the newly elected French Socialist President Francois Hollande and his economic policies are a “better fit” with President Obama’s economic tax and spend agenda. Excerpt: “With the victory of the Socialist candidate, François Hollande, in the French presidential election,” the article begins, “the White House has lost one of its closest allies on the Continent, but perhaps gained one with economic policy beliefs more closely aligned with its own.” The...

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Market Investors – What are they thinking?

Investors continue to listen to MSNBC and other financial outlets, which alternately cheer, at best a lackluster global economy, then lament, at worst a European economy that is on the brink of bankruptcy. Again this weekend, the Associated Press reported that Greece is losing billions in uncollected taxes, yet doesn’t have enough money to guarantee the European Union that it will pay its debts. The European Union’s report said that about half of the $81B in uncollected taxes are tied up in lengthy court procedures that can take...

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