What is it about politicians? When they have budget problems, their solution is to contrive all kind of excuses to create and raise taxes. Cost cutting is seen as performing an unnatural act. The newest gimmick is a “Soda Tax”, basically a tax on sugary beverages. Philadelphia started the trend. Their efforts are fizzling out and causing problems. Berkeley, San […]
» Read moreOur country has become bitterly divided. No matter who won the election, I predicted we would soon be reading about states wanting to secede from the union. Even before President Trump was sworn in, the California movement, known as Calexit, began. The first step is to ask voters to adopt a state Constitutional Amendment revoking the U. S. Constitution as […]
» Read moreIs there such a thing as free market pricing? Where does it exist? In last week’s interview with Ed Steer I asked about free market pricing in gold. His response relates to more than metals: “Free market pricing? Well, nobody knows what the true free market price of the precious metals really is, because there never has been a free […]
» Read moreWe had just moved to Texas and were getting settled into our new home. I heard my wife Jo screaming, “Oh my God!, Oh my God!” I raced down the stairs to find out what was wrong. She had the Sunday paper open on the counter, breathing heavily. “Look, look”, she exclaimed as she held a lottery ticket on the […]
» Read moreGood friend Alex N. recently sent me an article from the Pittsburgh Post-Gazette, “IRA Clock is Ticking”. Author Tim Grant warns, “If seniors unknowingly miss the Dec. 31 withdrawal deadline, it ends up costing them dearly in the form of a tax penalty that amounts to 50 percent of what they should have withdrawn.” He explains the Required Minimum Distribution […]
» Read moreThe fairest tax of them all is the lottery. It is voluntary, it is not levied; you are not forced to buy a ticket. It is an adult choice. Recently the Powerball lottery changed the game by adding ten numbers. The odds of winning rose from one chance in 175,223,510 to one in 292,201,338. Let’s put that in perspective. The government […]
» Read moreA recent email from my good friend Toots got my attention. She lamented, “We just received our real estate tax bill. Many of our retired friends, who thought this was to be their ‘forever’ home, are being forced to sell and move”. This is a preview of things to come. The State of Illinois is headed off the financial cliff and […]
» Read moreSince the August stock market reversal all eyes have been on the Federal Reserve. What will the Federal Reserve (who are more aptly named the Grand Wizards of Economic Theory, or GWOET for short) do to fix the world? Like Merlin the Magician, what magic trick will they come up with to cure the economy, stock market, labor market and underfunded retirement […]
» Read moreParenting never ends. My granddaughter bought her first car and asked me about insurance. She had two quotes: one with a $100 deductible and a second for $500 deductible. She was leaning toward the $100 deductible because “it was only $10 more per month”. So why not take that option? I explained the higher premium policy buys an additional $400 in […]
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