Lately in several discussions revolving around government spending and taxation, I’ve noticed a basic problem with Americans when it comes to the issue of government budgets; America as a political-financial entity is utterly schizophrenic. We will, more often than not, vote for increasing spending and vote against raising taxes – and you simply can’t have [...]
Money
Top 10 Unknown Facts About Money
May 20, 2009
During the American Revolution, inflation was so out of control that the price of corn rose 10,000%, the price of wheat 14,000%, flour costs rose 15,000%, and the price of beef went up 33,000%.
A dime has 118 grooves on its circumference. A quarter has one more.
Over $1 million worth of money belonging to Adolf Hitler [...]
Should Tax Increases Be Permanent?
April 29, 2009
There’s a very interesting conversation going on at the Financial Times about whether there is an argument for higher taxes in the long-term. While we must give Martin Sandbu credit for sparking a thought-provoking debate, he makes the mistake of over-simplifying the basic question at the heart of the problem;
What will be the consequences of [...]
Top 10 Tax Tips in a Recession
April 12, 2009
It’s that dreaded time of year again – the end of tax season. This year, facing one of the worst financial crises in several decades, it’s more important than ever to make sure you don’t make a mistake on your taxes that could lead to penalties or audits – and while paying your dues and [...]
The High Cost of a Low Income
April 3, 2009
The American Dream is arguably an amorphous concept, but it is certainly rooted in the basic promise of “life, liberty and the pursuit of happiness” and has been a driving force in the evolution of the American way of life. It is embodied in the mythology of Horatio Alger, whose “rags to riches” stories have [...]
Wanted for Economicide
March 24, 2009
In 1999, President Bill Clinton signed the Gramm-Leach-Bliley Act, effectively repealing some of the strongest protections against financial meltdown our legislature had ever created.
The 1933 Glass-Steagall Act was a response to the stock market crash of 1929 and the ensuing Great Depression, and it accomplished two very important things. The first was the establishment of [...]