Billionaire Thomas Peterffy is spending his own money to explain why he is voting the way he is. His story is compelling as he has lived it and is worried that the America he came to in 1956 may not exist with the opportunities he had if the election goes a certain way. Watch the video and then ask yourself why a man would spend between $ 5 million and $10 million of his own money on airing this video.
I think the answer is clear. A man who has seen and lived through a socialistic political system and became successful here in the United States doesn’t want to see the country that has given him the opportunity for success go back to what he escaped.
The 2001 tax relief bill (EGTRRA), drastically reduced the impact of the death tax over the course of a decade, so that it was eliminated entirely for one year in 2010 — a good year to die, joked a number of pundits. The bill lowered marginal rates and increased the applicable exclusion amount, but it also included a provision allowing individuals to carry over exclusion dollars that were unused by their spouse at the time of his or her death. This “portability” measure effectively increased the applicable exclusion for many households, in some instances putting millions of dollars beyond the reach of the federal government.
The death tax rose from the grave at the end of 2010, with a Bush-era top rate of 35% and an applicable exclusion amount of $5 million ($5.12 million in 2012).
Scheduled Changes
In 2013, the death tax will revert to its antiquated, pre-2001 form. The applicable exclusion amount will plummet to $1,000,000, and the top marginal rate will leap twenty points to 55%. A 5% surtax will also return, to be levied on estates between $10 million and $17 million. This raises the top effective rate of the death tax to 60%. Continue reading You might not want to die in 2013 – 55% confiscatory tax rate to hit
In a scathing letter from Senator Marco Rubio to president Obama today, it has been let known where he and many other Americans feel our government, and the President have failed the United States.
By 18th Ohio Congressional District Rep. Bob Gibbs – December 1st, 2011
The failure of the Joint Select Committee on Deficit Reduction, better known as the Super Committee, to reach agreement on $1.2 trillion in spending cuts is a serious disappointment. An opportunity to eliminate some of our huge debt was wasted – and with it, the chance to spur economic growth and create much-needed jobs.
As an outsider sent to Washington to bring a new perspective, I am frustrated that politics as usual has gotten in the way again. While the Republican-led House secured the largest reduction in discretionary spending in history, the inability of the ‘Super Committee’ to come to an agreement to further reduce the deficit illustrates once again that Washington is broken and lacks the internal discipline to make the necessary but difficult choices to pay down our $15 Trillion national debt. Continue reading An Opportunity Missed
It has been 932 days since the Democrats have passed a budget. With the formation of the Super Committee, the Tea Party saw an opportunity for Americans to tell Congress what they would be willing to cut, and offer suggestions to make the budgeting process easier for them. CSPAN was even to cover the event.
The Senate Rules Committee, headed up by Chuck Schumer, told the Tea Party gathering they were uncomfortable with the word “hearing”, and locked the doors and took away the microphones minutes before the event was scheduled to start.
Here’s a rest of the story…
The event quickly found a new location at Hillsdale College’s Kirby Center, where the hearing took place not too far behind schedule.
Herman Cain surprised everyone this past weekend by coming out on top of the Florida Straw Poll. He garnered over 37% of the votes – beating out the two media declared front runners Romney (14%) and Perry(15.43%) combined.
Now, yes things are volatile and the front runners can change almost daily. It wasn’t long ago that Michelle Bachmann was the front runner in the straw polls but only received a little over 1% of the votes in Florida.
Are the tides turning? Can one man really bring hope and change and not fluff and stuff?
I think Herman Cain has some great ideas. His 9-9-9 plan is very intriguing and should be seriously considered. However, one thing that has not been mentioned or even asked of Cain is this: Will the national sales tax, personal tax and corporate tax rates be set in stone – unchangeable by politicians in the future and how will he insure that it can never be changed? And shouldn’t food and clothing – the necessities of living be exempted from the 9% national sales tax?
Our economy is an interesting beast, and with the DOW jumping up and down like a Mexican Jumping Bean (now don’t take that in any other way other than the actual physical bean with worms in them) it seems like everything is changing. However, everything changed a long time ago.
Many people don’t realize that the Federal Reserve Bank has nothing to do with the Federal Government of the United States of America. What!?!?!?? It is a private bank making money off of you – the citizen of these great United States of America.
Many people also don’t know that there were several attempts at a Federal Reserve type bank back during the founding fathers time, and that several of our founding fathers fought against and lobbied against such a beast during the drafting of our national foundation (read Thomas Jefferson).
However, if everyone in the United States knew the reality of the system we currently work under and how it is actually illegal – there would be severe backlash from the people against the Federal Reserve and those in our government whom continue to support this corrupt system.
We’ve posted a video by www.theamericandream.com website. This is a MUST VIEW video to get more educated about how this system works. They have done a great job with it and we encourage you to share this video with other people.
It has a little bit of a South Park feel to it with many movie references that makes it that much more enjoyable, but is the best video to date I have seen explaining how you as a citizen is being screwed by the Federal Reserve. Kudos to www.theamericandreamfilm.com.
We at the Ohio Free Press stumbled upon this great website that allows you to insert your education level, age, average salary and will show you what your share of government costs will tally over your lifetime. Even better yet is that it shows you what would have been YOUR money had it not been used for all that “necessary” government spending.
Visit www.mygovcost.org to see how much you will end up paying for your government.
Makes you really wonder why we need such a HUGE government.
I think this video by Antony Davies, a professor of Economics, helps illustrate the actual size of the United States debt and unfunded liabilities.
Prof. Davies explains that the unfunded social security obligations are, in essence, an amount of money that the federal government has promised to current and future retirees.
Again, the numbers are astounding and is not what you will hear through your traditional media outlets or what it means to our economy.
Buckeye Firearms Association
National Precinct Activists
The Ohio Liberty Council
Cartoon From 1948 Has It Right – How Could We Not See It?
Ohio Going Obama? Better Look Again…