Federal Tax

CalExit 3.0: New Petition Calls For Cali Secession...3rd Time's A Charm?

Well, rather than pursue a ballot measure, which requires 585,407 signatures, the CalExit 3.0 group has petitioned California's Attorney General to call for a Constitutional Convention of the States so they can, among other things, amend the U.S. Constitution to allow for a "clear and reasonable path for individual States to become independent, so that CA can secede, if they so choose."

Electric Vehicles No Threat To Oil Prices Anytime Soon

Hardly a day goes by without another media report about the impending demise of the Internal Combustion Engine as petroleum powered cars and trucks are replaced by uber-clean Electric Vehicles. It is just a matter of time before EVs start to materially reduce global oil demand thereby capping a meaningful oil price recovery now and creating an ever-shrinking industry in the future... Except it isn’t true.

What If Taxpayers Could Choose If Taxes Went To The State Or Federal Level?

in every state, rich or poor, high-tax or low-tax, the federal government is getting the lion's share of taxes wrung from the pockets of the taxpayers. But, most of that ends up being spent in the states, anyway. So, an obvious question presents itself: why send all that money to Washington first? Why not just spend it where it originates?

State Corporate Tax Receipts Just Crashed The Most Since The Recession

After flatlining for the past year, US income tax receipts  have been disappointing, and have posted a sharp drop since the start of the year, which is "sounding an alarm about the health of the US economy." More concering, corporate income tax receipts at the state level fell a sharp $7bn in 1Q, the biggest drop since the recession 

Debt Has No Consequences? Color Us Skeptical

"The entire status quo is based on the delusion that rapidly rising debt will never generate any negative consequences. Color me skeptical of that working out in the real world."

Moving Closer To The Precipice

Slowing money supply and credit growth and historically extremely high stock market valuations far more often than not turn out to be uneasy bedfellows. In fact, usually the latter will eventually fall out of bed. Circumspection remains advisable.

TINA's Legacy: Free Money, Bread & Circuses, And Collapse

After the collapse of bread and circuses, the population of Rome eventually fell to roughly 25,000. But no worries--this time it's different. We'll get away with it because we buy our own debt, technology is deflationary, and so on. Simply put: the free bread and circuses will never end because we're so powerful and nothing is outside our control.

Congress Is Coming After Your 401(k)

“It's not really a question of whether retirement plans will get a haircut, but of how much.” A proposal floating around in Republican circles in Washington would add insult to injury: They want to end the tax-deductibility of your pension contributions so they can give a $1.5 billion tax break to U.S. corporations.