By Bill Wilson — $2.59 trillion. That’s how much the Obama Administration anticipates it will collect in taxes in 2012 .  Another $1.345 trillion will be collected by state and local governments, based on 2011 data by the U.S. Census Bureau . All together, that’s a whopping $3.935 trillion Americans pay in taxes on an annual basis — or about 24.9 percent of the nation’s Gross Domestic Product (GDP). In […]

By Bill Wilson — The only thing standing in between the White House and a bailout of 11 million borrowers underwater on their mortgages to the tune of $717 billion is the FHFA’s Edward DeMarco, who has had the temerity of suggesting that the agency merely follow the law and protect taxpayers from unnecessary losses. DeMarco has steadfastly rejected a […]

By Bill Wilson — Is the International Monetary Fund (IMF) inserting itself into U.S. political affairs and potentially setting up a conflict over U.S. sovereignty? After a speech last week at the Brookings Institution on the financial crisis , IMF Managing Director Christine Lagarde took questions from the audience, including one from U.S. Bureau of Economic Analysis economist Garth Trinkl.  […]

By Bill Wilson — In the past month, the European sovereign debt crisis has reared its ugly head again. No, not in Greece, but this time in Italy and Spain. There interest rates on 10-year bonds have jumped from lows of 4.81 percent and 4.87 percent, respectively, […]

By Bill Wilson — Any fair reporting of Obama’s Buffett rule would reveal it to be a cynical election-year maneuver that bears no resemblance to a sound policy designed to either improve the economy or raise significant revenue to pay down the debt. Obama’s tax-the-rich proposal, which […]

By Bill Wilson — The budget cannot be balanced by raising taxes on the so-called wealthy, who happen to be the nation’s job creators. It won’t even come close. A recent Joint Committee on Taxation estimate found that raising the capital gains and income taxes to 30 percent for those who make over $1 […]

By Bill Wilson — This latest White House scheme to bail out borrowers with mortgage principal reductions using taxpayer funds is nothing more than a cynical election year ploy. This time, the goal is to build a constituency of borrowers underwater on their mortgages with the hope that they might — emphasis on might — be able to […]

By Bill Wilson — The week of April 6, the national average of gasoline prices hit $3.94, according to the Energy Information Agency, with prices continuing to rise nationwide. But economist and New York Times columnist Paul Krugman apparently thinks you’re not paying enough at the pump […]

By Bill Wilson — Obama’s U.S. Department of Labor loses more credibility every month as they announced a lower unemployment rate in March, while at the same time 31,000 fewer Americans actually had jobs than the previous month .  In spite of all the happy talk out of Obama’s official Washington, D.C., the fact is that fewer […]

By Bill Wilson — It is ironic that Warren Buffett continues to allow himself to be the front-man for Obama’s call for higher taxes, when his own company, Berkshire Hathaway, has outstanding tax bills going back a decade of almost $1 billion . While Buffett has every right to dispute the IRS’ tax charges, this makes him a particularly weak spokesperson for increasing taxes on […]