Sharpening the Pin

Well, here is an update after quite a long break. It appears the Federal Reserve is sharpening the pin to pop the new bubble created by expansionist monetary theory. Go to
http://news.yahoo.com/s/ap/20101012/ap_on_bi_ge/world_markets_12
and see for yourself that the excuses to raise interest rates are beginning. This is a warning folks. When the Fed raises the rates look for big declines in equity. Harry Dent thinks commodities will suffer a big drop as well, including Gold and Silver. Maybe Oil will drop, too. This is the same kind of thing the Fed did in May of 1929 and we all know what happened a few months later.

An American Exit Tax?

Well, now we've heard everything. If you are successful at accumulating wealth and decide to liquidate and move overseas for cheaper living, watch out! Our government wants to tax your wealth as ordinary income. Oh, you get a $ 600,000 exclusion if you have more than $ 2 million. Great! You work hard, buy stuff with after tax dollars and then when you sell it years later, you are taxed on the excess as if it is ordinary income. It seems that is only if you renounce US citizenship but how long will it be before that provision is changed? This is very revealing. Throughout history, governments have stolen wealth from their citizens and when the citizens figure out a way to protect themselves, the governments get creative and figure out new ways to rob the masses. Ours is no different; especially now with the out-of-control spending and falling corporate tax revenues. Plus, now our illustrious President is asking for ideas to get business back on track!! As if he didn't know. He's a Socialist who doesn't want anyone making a profit. What he fails to grasp is that if a business can't make a profit, it can't stay in business and people lose jobs! It's real simple President Obama! If you want to help business, reduce taxes! I have a really good idea for you! Small business corporations that are considered "personal services corporations" are taxed at 35% minimum instead of the standard 15% minimum. How 'bout you remove that 20% extra taxes on the personal services corporations and see what happens? I'll bet there will be some growth then. Thanks for listening.....