Month: April 2013
In 1934, individual income taxes were 14% of tax receipts, today they’re 47%. Similarly, social insurance and retirement receipts were just 1% but are 35% today. By contrast, corporate income taxes were just 12% in 1934, reached a high of…
Read MoreThe Friday File: On 12/5/12, jazz great Dave Brubeck died at age 91 and on 2/27/13 Harvey Lavan Cliburn, Jr. known best as Van Cliburn passed at age 78. Brubeck’s 1959 album “Time Out” was the first jazz album to…
Read MoreLast week automakers reported sales of 15.3 million, up from a low of 9.0 million in February 2009. The rise is due in part to ultra-low interest rates, but also to both a rapidly aging fleet and longer loan terms.…
Read MoreThe recent $13 billion bailout (60% of GDP) made by the IMF, ECB, and European Commission to Cyprus does not solve problems, it just delays them. With a post bailout debt-to-GDP burden of 140%, an economy that will shrink 20%…
Read MoreMarch employment numbers come out tomorrow and they will disappoint. ADP reported weak private sector job growth numbers yesterday, first time unemployment claims that came out this morning and were on the high end and sequestration will probably knock off…
Read MoreAs if more proof were needed that home building is rapidly improving, and that production builders are the biggest winners, Taylor Morrison plans an IPO to take advantage of the run-up in home builder stock prices. The planned IPO will…
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