The government long ago, (Jimmy Carter time frame) eliminated certain items from the official calculation of the rate of inflation. Specifically food and energy (gas). The graph below calculates inflation with the old formula with food and energy included and compares with the new and improved government approved inflation rate. The data speaks for...
Read more »
The National Federation of Independent Business (NFIB) will release their April survey on Tuesday, June 14th. Here is a pre-release of the employment results from NFIB: NFIB Jobs Statement: On Main Street, Job Creation is Collapsing “After solid job gains early in the year, progress has slowed to a trickle … meaningful job creation...
Read more »
In 2010 Foxconn (A company) in Taiwan hired 300,000 employees while in USA we added 937,000 non-farm jobs For every 100 people employed last month, two will lose jobs and 3 will drop out of the labor force in next month. Average tenure of a new employee is 3 years 2 months (includes CEO’s)....
Read more »
Rising Above the Gathering Storm, Revisited: Rapidly Approaching Category 5 http://www.nap.edu/catalog/12999.html Executive Summary A Few Factoids Thirty years ago, ten percent of California’s general fund went to higher education and three percent to prisons. Today, nearly eleven percent goes to prisons and eight percent to higher education.1 China is now second in the world...
Read more »
Lee Pacchia of Bloomberg Law interviews Harvey Miller on the new bankruptcy procedures pushed through by congress. Essentially limiting the rights of creditors.
Read more »
Seems nothing is safe, insurance companies are looking at mining all the social information about you available publicly to help determine your insurance rates, car, life, medical are all fair game. From the Wall Street Journal ….a consultant helped explain Deloitte’s concept by discussing imaginary 40-year-old insurance buyers, “Beth” and “Sarah.” Using readily available...
Read more »
This seems to be the economic policy question of the hour. It might be worth recalling that last month, the Wall Street Journal polled economists about this question. Of those who expressed an opinion, here are the results: * 6 percent said no, all the tax cuts should be allowed to expire, * 24...
Read more »
Every year, the Americans for Tax Reform Foundation and the Center for Fiscal Accountability calculate Cost of Government Day. This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and...
Read more »
Play are these Government programs designed to end the recession real or fake?
Read more »
Or why the economy is stuck in neutral. Check out the hiring woes of Michael P. Fleischer, at Ramsey, N.J.’s Bogen Communications Inc. Fleischer gives the case of the median-pay employee at his company. She makes $59,000 a year: Before that money hits her bank, it is reduced by the $2,376 she pays as her...
Read more »
Connecticut has the 5th biggest deficit nationally as a percentage of General Fund for 2009-2010 o NV – 30% o AZ – 29.8% o CA – 25.6% o NY – 24.3% o CT – 23.1% Connecticut already has the highest tax burden in the country. Connecticut’s young leave their home state at the highest...
Read more »
Dripping with a southern syrupy drawl the elderly woman standing in front of the Bibb says, “Foley bankrupted the Bibb, He’ll bankrupt Connecticut”. News to Fedele: CONNECTICUT IS BANKRUPT. We are 9 BILLION dollars in the hole. Tom Foley is the only person running for Governor who has ever shut anything down. Foley is...
Read more »
There is almost $2.4 trillion in mortgage debt for homes in negative equity. The total negative equity is $771 billion. There are 4.1 million homeowners with more than 50% negative equity (they owe 50%+ more than their homes are worth). This graph shows the percent of homeowners with mortgages in negative equity for 33...
Read more »
It is highly likely we are going to see a return to high inflation. #1: Because the government needs it to get out of the debt they have incurred. (A Billion $ A Day in Interest and climbing.) #2: Inflation is a natural economic outcome of creating money that has no basis in real...
Read more »
If the President’s Deficit Reduction Commission uses “baseline” or “current services” budgeting as a benchmark for determining spending “cuts” and tax increases, that’s a good sign that the crowd in Washington wants to pull a fast one on the American people. Baseline budgeting. This is the clever Washington practice of assuming that all previously...
Read more »
Ct Taxes In The News
