Federal Tax & Bailout 2008

The Aso administration has bungled the one-off handout to households (in response to New Komeito demands, first envisaged mainly as a tax rebate) that is supposed to be a major feature of the second tranche in the government response to the economic downturn. It doesn’t help that it’s also doing a bad job in handling [...]

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  The nation’s jobless ranks zoomed past 10 million last month, the most in a quarter-century, as piles of pink slips shut factory gates and office doors to 240,000 more Americans with the holidays nearing. Politicians and economists agreed on a painful bottom line: It’s only going to get worse. The unemployment rate [...]

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From the official Obama-Biden Office of the President-elect web site: Barack Obama and Joe Biden will enact a windfall profits tax on excessive oil company profits to give American families an immediate $1,000 emergency energy rebate to help families pay rising bills. This relief would be a down payment on the Obama-Biden long-term plan [...]

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“We can’t solve global warming because I f—ing changed light bulbs in my house. It’s because of something collective.” Taken from Newsweek’s special “How He Did It, 2008? behind-the-scenes election report, the above quote makes it clear that Barack Obama understands the scale of his ‘new energy economy‘ campaign promises - but will he [...]

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Guns and Ammo, a shop that is amazingly close to my house, was having a special today…if you bought a gun with cash or with debit, they would waive the sales tax.  I also got a rebate for 2 extra magazines. For what gun? A Walther PPK .380. I’m carrying it with [...]

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Just in case you were wondering, it looks like some of your money will be headed to Detroit in a few months: WASHINGTON (AP) — Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped [...]

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In 1953, General Motors chief executive Charlie Wilson said, “for years I thought what was good for the country was good for General Motors and vice versa”.  The years have passed. Car industry watcher Robert Farago writes that “its the morning after the day of. The day General Motors admitted to the world that they [...]

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The fact that we are even talking about bailing out American auto makers, let alone actually going to do it, is an atrocity to all economic and political sense.  Here’s an example of what passes for rational discourse these days==Peter Schiff playing the role of Socrates among the sophists. (link) But [...]

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There are many issues where Obama and McCain supporters live on opposite ends of the spectrum. But there is at least one where most of the populus… and if you read their campaign promises, the DNC and GOP candidate themselves… were on the same page. And that is on the price of prescription drugs in [...]

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