The Freedom Watch

Bill Gates Foundation is Warren Buffett’s Tax Laundromat

"Well, this helps explain Buffett's huge donations to the Bill & Melinda Gates Foundation. According to Francine McKenna, a CPA, the Gates Foundation is Warren Buffet's personal tax laundromat. The donations for tax deductions reduce his future estate taxes. At the same time, the Foundation gets the donations on full market value basis. Thus, it can sell immediately with no tax, while Buffett gets the deductions. It should be noted that this maneuver is coming from a guy who regularly calls for 'shared sacrifice' and higher taxes on people earning more than $1 million." Continue reading →

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Farm Bill: Are Republicans the “Stupid Party” or the “Big-Government Party”…or Both?

"It should go without saying that America’s agriculture policy has always been a terrible, stupid, counterproductive exercise in self-dealing cronyism. But when House Republicans severed the traditional connection, arbitrary but politically effective, between farm subsidies and food stamps, it briefly seemed like they were looking for an opportunity to put libertarian populist principle into practice, by separating both outlays in order to trim or reform both separately. But no — instead they were just making it easier for the party’s congressmen to vote for a bloated, awful big government program that benefits mostly-Republican states and interest groups." Continue reading →

Continue ReadingFarm Bill: Are Republicans the “Stupid Party” or the “Big-Government Party”…or Both?

D.C.’s Walmart ‘Super Minimum Wage’ Is a Super Bad Idea

"Wal-Mart swiftly announced the abandonment of plans to open at least three stores in the District of Columbia following a vote by the city council to pass the Large Retailer Accountability Act, which effectively mandated a super minimum wage of $12.50 an hour that applied only to Wal-Mart. As a result, the residents of D.C.'s Ward 7– with a poverty rate of 34 percent and an unemployment rate of 17 percent – will now be denied a source of new jobs and inexpensive groceries and goods. Increasing the minimum wage beyond the productivity of the worker inflicts damage on the poor and the unskilled – the very people it is ostensibly designed to help." Continue reading →

Continue ReadingD.C.’s Walmart ‘Super Minimum Wage’ Is a Super Bad Idea

How to Lose Friends, Citizens and Influence

"Imagine this: You were born in California, moved to New York for education or work, fell in love, married and had children. Even though you have faithfully paid taxes in New York and haven't lived in California for 25 years, suppose California law required that you also file your taxes there because you were born there. Though you may never have held a bank account in California, you must report all of your financial holdings to the State of California. Are you a signatory on your spouse's account? Then you must declare his bank accounts too. Your children must file their taxes in both California and New York and report any bank accounts they or their spouses may have." Continue reading →

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Most Expensive Colleges In America

"It's common knowledge that college costs are on the rise. But you may be surprised to know that some schools currently charge over $60,000 to educate a student for just one year. A list recently released by the Department of Education charts the highest tuition in the country. Unfortunately, the tuition numbers used in the rankings are two years old, and fail to show the contemporary college landscape." Continue reading →

Continue ReadingMost Expensive Colleges In America

Most Expensive Colleges In America

"It's common knowledge that college costs are on the rise. But you may be surprised to know that some schools currently charge over $60,000 to educate a student for just one year. A list recently released by the Department of Education charts the highest tuition in the country. Unfortunately, the tuition numbers used in the rankings are two years old, and fail to show the contemporary college landscape." Continue reading →

Continue ReadingMost Expensive Colleges In America

Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

Continue ReadingBusted California Cities: Pension Liabilities

Busted California Cities: Pension Liabilities

"New accounting standards are being applied by Moody’s to cities. It turns out that the two biggest cities in California — Los Angeles and San Francisco — are way deeper in the hole than previously admitted. But wait! There’s more! San Jose will be downgraded. So will Inglewood ('The Hood'). So will Azusa. The total unfunded liabilities for the state are now over $320 billion. That’s up from $128 billion. In one shot. California is not alone." Continue reading →

Continue ReadingBusted California Cities: Pension Liabilities