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Tax Burden of Top 1% Now Exceeds That of Bottom 95%

They must be proud of how far we’ve come in demonizing the rich! We hear our politicians talk about the rich and how they aren’t paying their fair share.

According to newly released data from the IRS

To put this in perspective, the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

Some in Washington say the tax system is still not progressive enough. However, the recent IRS data bolsters the findings of an OECD study released last year showing that the U.S.—not France or Sweden—has the most progressive income tax system among OECD nations. We rely more heavily on the top 10 percent of taxpayers than does any nation and our poor people have the lowest tax burden of those in any nation.

Isn’t the top 1% that contribute to thepoliticians in the first place? Doesn’t appear they’re getting a good ROI.

Hat tip to Instapundit

OSU Picked 4th In PAC 10

First-place votes in parentheses.
The Oregonian has the latest media poll for final finish in the PAC 10. With any luck, OSU could be undefeated when they meet USC there!

1. USC (28) … 316
2. California (3) … 277
3. Oregon (1) … 250
4. Oregon State … 216
5. Arizona State … 155
6. Stanford … 150
7. UCLA … 145
8. Arizona … 142
9. Washington … 74
10. Washington State … 35

BTW, Oregon picked 3rd! Go Beavers!

2.4 Maupin Quake

map 2.4  2009/07/28 11:32:11 45.132N 120.965W 17.1
10 km ( 6 mi) ESE of  Maupin, OR

What happened to the Gold market?

I think it came as a big surprise to many traders that the gold market imploded on Tuesday pushing to its lowest levels in several days.

The downward spiral was enough to trigger a daily “Trade Triangle” which moved us into the neutral camp on this market. Exiting our long gold position based on our “Trade Triangle” signals produced a very small profit or in some cases of break even trade.

So the question is: Is the sharp downward move in gold over?

In Adam Hewison’s new video he answers that question and shares with you some levels he thinks gold will go to on the downside. He also shares with you that we could be setting up for it excellent buying opportunity, if and when our “Trade Triangles” are aligned.

If you have a few minutes I strongly recommend that you take the time to watch this gold video.

All the best,

Policy Translated

I liked this email so much, I’m quoting the whole thing:

Do you look for ways to comment on boring?  complicated political or policy issues in a way that doesn’t make your readers’ eyes glaze over?  So do we.  That’s why we (the Competitive Enterprise Institute) are launching this new video series and YouTube channel called “Policy Translated.”  A policy wonk explains how law makers and special interests are really screwing up going wrong -  bailing out banks, regulating the Internet or meddling in some other important part of our lives.  And then subtitles translate the wonk-speak into English (or, maybe Urban Dictionary English).  The project is the brilliant idea of the new Bureaucrash “Crasher-in-Chief” Lee Doren all the brilliant people at CEI.

Policy Translated: Introduction

Policy Translated – Stimulus Spending:

I finally understand government speak, but I need help so I’m going to subscribe.

Appointment Watch: Holdren and Sims

Lat time I checked in with Bill Wilson for Americans for Limited Government, he wrote about three Obama appointments. Time for two more:

The mainstream media continue to ignore President Obama’s appointment of bizarre personnel to run the government. Personnel is policy. That being the case the American people need to know about these appointments. This week we look another couple of Obama appointees. These are not isolated incidents or an occasional bad apple. These folks are representative of the appointments he is making with little or no push back from the Senate during the confirmation process.

John P. Holdren, Director of the White House Office of Science and Technology Policy (Science Czar)

Since the 1960’s Holdren has advocated draconian practices in order the control the worlds’ population. In 1969 he wrote “If population control measures are not initiated immediately …technology… will not fend off the misery to come.” Holdren further states, “Some form of ecocatastrophe…seems almost certain…before the end of the [20th] century.”  To ward off this disaster that never happened Holdren prescribed the following:

  • Laws requiring compulsory abortion.
  • Requiring pregnant single women to marry or abort the child.
  • Adding sterilant to drinking water or staple foods. In a burst of humanity however Holdren wants to be sure that the sterilant would not harm pets.
  • Adjusting tax laws to favor single people, working wives, and small families.
  • Taxes on luxury baby good and toys.
  • Limitation of educational benefits to two children per family.

On March 4th 2009 the Senate confirmed Mr. Holdren without one dissenting vote.
Ron Sims, Deputy Secretary of Housing and Urban Development

Before this appointment Mr. Sims had been County Executive in King County (Seattle) washington. The following are a couple of the low points of his record in that position.

  • On Sims’ watch, the medical examiner’s office was run unprofessionally and disrespectfully. Bodies lay on the floor, crude language and gestures were common, harmful chemicals were poured down the drain illegally, a body was lost, and a weekly contest to pick the most disgusting photo of the dead was held.
  • Ron Sims pushed a three-year project to update county payroll and human resources and accounting systems. Unqualified people ran the project, $39 million was wasted, and the project failed. After three years, the payroll and human resources system had only been installed at departments that employed one-third of county employees and the accounting system had not been installed. While only a fraction of the project was completed, the entire budget was spent.

On May 6, 2009 the Senate confirmed Mr. Sims without one dissenting vote.

These are just a sample of the people President Obama is placing in positions of power within his Administration. If you want more information on these three and many others, please visit: http://www.getliberty

Why Weekly Charts Are So Important In Forex Trading

Today, in this video Adam Hewison looks into why weekly charts are so important in the Forex market.

I will use the EUR/USD as the example and deeply investigate the buy signal we received on this cross on Monday, July 27th. Although it’s too early to tell if this signal will be profitable, it is certainly a signal you must take if you are a disciplined follower of MarketClub’s “Trade Triangle” technology.

You can watch this video with my compliments and there is no registration requirements.

All the best,

Listen To Bernanke At Your Own Risk!

My friend sent me an email with these two quotes:

‘My friends, we live in the greatest nation in the history
of the world. I hope you’ll join with me as we try to change it.’
Barack Obama

Then this one:

”Life’s tough……It’s even tougher if you’re stupid.”
John Wayne

Shortly after reading his email, I came across an article at Moneynews that told us FED Chairman Bernanke traveled to Kansas City to tape a show before 190 citizens for a PBS show. His job was “to defend the central bank’s actions.”

Some two dozen peppered the chairman with questions ranging from the Fed’s role in consumer protection actions, to efforts to stem foreclosures, to the outlook for the dollar.

Asked about Ron Paul’s House bill to audit the FED, sponsored by over 240 Representatives, Bernanke said,

“I don’t think the American people want Congress running monetary policy. That’s exactly what (the bill) would do,” he said.

Markets would likely assess that inflation would rise if Congress or the administration started to meddle with interest rate decisions, he added.

I am sure he was not asked about the FED’s track record of losing 95% of the USD’s purchasing power since the FED was established in 1913. According to the Constitution, it is a Congressional DUTY to manage the currency and it even defines our currency in terms of Gold and Silver.

I am sure no one asked what makes the FED better at determining the proper level of interest rates and monetary growth than the market. Why is the FED, a cartel of banks, better able to do the job than Congress or a free market.

Not only has the FED fostered inflation, thus the 95% loss in purchasing power, but we are currently worried about the prospect of hyperinflation caused by the FED.

Bernanke also added this zinger,

As he did in testimony on Capital Hill last week, Bernanke suggested Congress get its own act together — and form a plan to get massive budget deficits under control.

What Bernanke didn’t tell you is the reason the FED exists in the first place. Without the FED, congress would have to come to the citizens to fund some spending project and if Congress wants to go to war, bonds must be sold to fund the war. If Congress wanted to reward campaign contributors with pork, congress would have to go the citizens for permission. With the establishment of the FED, Congress has the FED print the money, and the pork or war is paid for through inflation.

There sure seems to be a lot of stupidity in the news lately. Here’s where the stupidity comes in.

Retirees Elbert and Gloria Willingham of Overland Park, Kansas, who were among the studio audience, gave Bernanke two thumbs up.

“I’m very impressed with Bernanke. I strongly hope that Obama sees fit to reappoint him — it would be bad for the economy if he didn’t,” Elbert Willingham said.

“He’s down to earth and believable. He’s got the ideas, but also the practical understanding,” his wife added. “He cares about the small businessman.

Those statements are outrageous enough, but think of this: CD and T-bill rates are low because the FED is trying to repair the bank’s balance sheet. (Who owns the FED? A Cartel of banks!) You cannot get a positive return on your investment in any CD or Treasury under five years. You either cut your expenses to live on the fixed rates available or you take on more risk that a retiree should to get a decent income.

”Life’s tough……It’s even tougher if you’re stupid.”
John Wayne

Please enjoy the article and comment below, email me at landfair3554@comcast.net or follow me @movermike

Mike Landfair

Leaders? These People Aren’t leaders!

Guyana!  Here’s a little country, next to Venezuela, whose leaders seem to be focusing their attention on the wrong problem.

President Bharrat Jagdeo hosted a meeting on Guyana’s Low Carbon Development Strategy (LCDS) with ranks and officers of the Guyana Defence Force at Camp Ayanganna on Thursday.

That leaders of Guyana, formerly British Guiana, would aquander any of their energy on (gasp) Global warming is unconscionable.

  • “with a per capita gross domestic product of only $4,700 in 2006, Guyana is one of the poorest countries in the Western Hemisphere.”
  • “There are 4,952 miles (7,970 km) of highway, of which 367 miles (590 km) is paved.”
  • “Reliability of electricity supply is very low,”
  • “Key issues in the water and sanitation sector in Guyana are poor service quality, a low level of cost recovery and low levels of access. “
  • :Guyana’s educational system was at one time considered to be among the best in the Caribbean, but it significantly deteriorated in the 1980s because of the emigration of highly educated citizens and the lack of appropriate funding.”
  • “The health sector is currently unable to offer certain sophisticated tertiary services and specialized medical services, the technology for which is unaffordable in Guyana, or for which the required medical specialists are not available.”
  • “Basic health services in the interior are primitive to non-existent, and some procedures are not available at all.”

How hard can it be to provide for a population of 775,000. 

“The main economic activities in Guyana are agriculture (production of rice and Demerara sugar), bauxite mining, gold mining, timber, shrimp fishing and minerals.” One thing positive the leaders could do is to band together with other countries that produce gold and force the U.S. Government to stop putting a cap on the price og Gold. Adjusted for inflation, Gold should be selling in excess of $2,000. A robust mining industry would do a lot for the economies of Guyana and African countries. It is unfortunate that leaders spend so much time and effort on non-issues like Carbon Caps to combat (gasp) global warming, when there are so many pressing issues that solved can have immediate impact on their citizens.

Leaders? These people aren’t leaders!

Zelaya Was Preparing Fraud!

Nice story about the criminality of Honduran ex-president Zelaya in the blog Western Belize Happenings!

Our president and the leftist loonies are supporting this guy. Shame on You!

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