Don’t Follow the Judas Goat – a Tax Commentary

A ‘Judas Goat’ is a goat trained to associate with other herd animals, primarily sheep or cattle and lead them to slaughter.  By following the Judas Goat the unsuspecting livestock calmly walk right up to their own demise.  When it comes to taxation, make sure that you don’t follow the Judas Goat!

I’m consistently amazed at the stupid things that celebrities say and the questionable causes they support.  Just look at how many celebrities have been hoodwinked by the extremist group PETA into endorsing their agenda and even posing naked to support it.  I understand the need to ‘make a difference’ in the world but do your homework folks!  The worst of these celebrity ’causes’ is the recent rash of celebrity ‘tax the rich’ and last year’s ‘support Occupy Wall Street’ celebrity endorsements.

These tax-increase celebrities remind me of that Judas Goat…with their expectation that we will be so star-struck that we calmly follow them into taxmeggeddon.  Even seemingly rational businessmen like Warren Buffet have chosen to play the Goat.  My only guess is that if you’ve accumulated all the wealth you’ll ever need than it’s worth it to deflect the animosity of the class envy by saying “no, really, I should be taxed more” or maybe the motivation is just guilt.

The problem with the Judas Goat is that his or her approach doesn’t lead to the Goat’s slaughter…just the rest of us.  If you really believe you should pay more taxes it’s easy to do…just look how hard most U.S. citizens work to keep their tax burdens manageable. (more…)

Laffer on Economic Prosperity – Today’s Quote

And you can’t have a prosperous economy when the government is way overspending, raising tax rates, printing too much money, over regulating and restricting free trade.  It just can’t be done.

Dr. Arthur B. Laffer

News to Know

Situational awareness is a key element of survival and today, situational awareness must be global.  Today we present news to know from the past week (or so) with a dab of commentary:

Security Threat News:

An electromagnetic pulse attack — the ‘other’ Iranian nuclear threat:  EMP is a game changer…a nuclear strike on a major city could be less damaging to the U.S. than a well executed EMP attack on the homeland in terms of lives lost and property damage and financial loss.

Russia says it will not renew arms agreement with U.S.

al-Qaeda-linked group could have advanced weapons after joining Syria rebels in seizing missile defence base: 
Iran Strikes Back:  Iranian cyberattack on the U.S. financial system.  Let’s face it folks, we’re now in a perpetual state of war even when we pull out of Afghanistan.

Enter At Your Own Risk: Police Union Says ‘War-Like’ Detroit Is Unsafe For Visitors:  How did Detroit get here…read this excellent article by Porter Stansberry…there but for the grace of God go the rest of U.S.

Ripped From The Pages of An Ian Fleming Novel:

The Danish agent, the Croatian blonde and the CIA plot to get al-Awlaki:  You just couldn’t make this stuff up! (more…)

Fisher on Central Bankers – Today’s Quote

Nobody really knows what will work to get the economy back on course. And nobody-in fact, no central bank anywhere on the planet-has the experience of successfully navigating a return home from the place in which we now find ourselves. No central bank-not, at least, the Federal Reserve-has ever been on this cruise before.

Dallas Federal Reserve President Richard Fisher in a recent talk before a Harvard Club audience

Laffer on Economic Adaptability – Today’s Quote

People can change the volume, the location and the composition of their income, and they can do so in response to changes in government policies.

Dr. Arthur Laffer

President Kennedy on Raising Tax Revenues – Today’s Quote

In short, it is a paradoxical truth that … the soundest way to raise the revenues in the long run is to cut the rates now. The experience of a number of European countries and Japan have borne this out. This country’s own experience with tax reduction in 1954 has borne this out. And the reason is that only full employment can balance the budget, and tax reduction can pave the way to that employment. The purpose of cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.

President John F. Kennedy, Nov. 20, 1962

News to Know

Situational awareness is a key element of survival and today, situational awareness must be global.  Today we present news to know from the past week with a dab of commentary:

News that could be ripped from the pages of an Ian Fleming Novel:

Security Threat News:

Laffer on Stimulus – Today’s Quote

The truth of the matter of is that stimulus money not only doesn’t stimulate; it actually reduces output.

Dr. Arthur Laffer

Top 10 Items to Buy Before The Election

The economic, environmental, religious and political stressors on society are compounding in ways not seen since at least the 1960’s.  These forces will have an affect on the prices (and likely the availability) of a number of the goods and commodities you use regularly as well as those important for preparedness.  Of course, the big elephant (or donkey) in the room is the upcoming U.S. presidential election.  I urge you to consider Prepography‘s Top 10 Items to Buy Before the Election: (more…)

ZeroHedge on Quantitative Easing – Today’s Quote

There was one thing, ONE THING only that Bernanke could do, to become a gold bug’s best friend today, than merely announcing QE [Quantitative Easing] 3/4. It was to announce open-ended QE. This means [that] this is the Fed’s final shot and there is no way to frontrun the Fed any more by definition.  It means the terminal start of currency debasement is now here.  It also means that the path to all time nominal (and inflation adjusted) highs in gold, which is now just $160 away, silver, platinum, and all other metals, as well as all other hard assets is now clear.  It also means that very soon stocks are about to realize what soaring “input costs” mean for the bottom line.

via ZeroHedge

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