If you’re anything like me, you’ve waited til the last minute to do, and pay, your taxes. (I had far more important things to do, like write an April Fools post about Monsanto inserting rabbit DNA into human babies to eliminate their tear duct and get them to quit crying all the darn time). When …
With the election 2 months away, both Democrats and Republicans are spending the majority of their time trying to sway the last remaining undecided voters (as well as rallying their bases, of course). Both political parties are now fully embracing the idea that they and their policies are the best for the middle class. Rhetoric …
Sheldon Adelson, billionaire casino magnate, has pledged $100 million to defeat Barack Obama this year. During the Republican primaries, he spent big on attack ads against…Mitt Romney? Yep…Adelson’s Republican of choice was Newt Gingrich, and Adelson spent almost $20 million on Gingrich’s campaign. Now, Adelson backs Mitt Romney, Republican candidates for congress, and Super PACs …
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Switzerland has historically been a tax haven for Americans (and citizens of other nationalities) however this is about to come to an end as UBS, the largest bank in Switzerland, has agreed “to divulge the names of well-heeled Americans whom the authorities suspect of using offshore accounts at the bank to evade taxes. The bank admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities.” (New York Times)
Economic populism involves an economic philosophy urging social and political system changes. In the current political and economic climate, the public concern over the inequity of wealth appears to be at a peak. There is a growing call by Senator Barack Obama and democrats to raise taxes on the wealthy to shrink the wealth gap. But is it true that the rich are getting richer? Or are the rich actually in danger of losing a significant portion of the nation’s wealth? Are the democrats worried about a problem that’s already being fixed by the markets?