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The power of the flat tax, Bulgarian style

Stephen Moore has a great piece on WSJ.com illustrating the success that Bulgaria has had since implementing the flat tax. More specifically, he discussed the benefits it has reaped by implementing an “across the board” 10% flat rate earlier this year. Here is an overview of some of the successes Bulgaria has seen since implementing a flat tax:

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Blog

The power of the flat tax, Bulgarian style

Stephen Moore has a great piece on WSJ.com illustrating the success that Bulgaria has had since implementing the flat tax. More specifically, he discussed the benefits it has reaped by implementing an “across the board” 10% flat rate earlier this year. Here is an overview of some of the successes Bulgaria has seen since implementing a flat tax:

07/22/2008
Key Vote "No" H.R. 3221

On behalf of hundreds of thousands of FreedomWorks members nationwide, I urge you to VOTE “NO” on H.R. 3221: the American Housing Rescue and Foreclosure Act of 2008.  This legislation has far reaching consequences and a complex web of markets, industries, and individuals will be affected by it.  To rush through a bill of this magnitude, before all options have been considered, is a grave mistake.

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Press Release

Key Vote "No" H.R. 3221

On behalf of hundreds of thousands of FreedomWorks members nationwide, I urge you to VOTE “NO” on H.R. 3221: the American Housing Rescue and Foreclosure Act of 2008.  This legislation has far reaching consequences and a complex web of markets, industries, and individuals will be affected by it.  To rush through a bill of this magnitude, before all options have been considered, is a grave mistake.

07/22/2008
Paulson Plan Rolls the Dice with Taxpayer Dollars

The Congressional Budget Office (CBO) released a short analysis of the new "blank check" plan by U.S. Treasury Secretary Henry Paulson to extend taxpayer resources to Fannie Mae and Freddie Mac. The CBO letter explores some of the issues with the plan and explains that "CBO's estimate of $25 billion in [taxpayer] costs over the 2009-2010 period reflects a probability-weighted average of how large those injections might need to be, including zero as a potential outcome." CBO also noted there is "almost a 5 percent chance that the [GSE’s] added losses would total more than $100 billion."

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Press Release

Paulson Plan Rolls the Dice with Taxpayer Dollars

The Congressional Budget Office (CBO) released a short analysis of the new "blank check" plan by U.S. Treasury Secretary Henry Paulson to extend taxpayer resources to Fannie Mae and Freddie Mac. The CBO letter explores some of the issues with the plan and explains that "CBO's estimate of $25 billion in [taxpayer] costs over the 2009-2010 period reflects a probability-weighted average of how large those injections might need to be, including zero as a potential outcome." CBO also noted there is "almost a 5 percent chance that the [GSE’s] added losses would total more than $100 billion."

07/22/2008
I can agree with Rev. Jeremiah Wright on one thing...

...America's chickens are coming home to roost. Get out of debt now. The Daily Reckoning PRESENTS: Much of what goes on in public finance is fraudulent. The rest is nonsense. The hardest part of our métier is just figuring out which is which. Bill Bonner explores… FANNIE AND FREDDIE: PLAYING WITH A STACKED DECK by Bill Bonner

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Blog Hit

I can agree with Rev. Jeremiah Wright on one thing...

BY Bobo B'nai

...America's chickens are coming home to roost. Get out of debt now. The Daily Reckoning PRESENTS: Much of what goes on in public finance is fraudulent. The rest is nonsense. The hardest part of our métier is just figuring out which is which. Bill Bonner explores… FANNIE AND FREDDIE: PLAYING WITH A STACKED DECK by Bill Bonner

07/22/2008
What Others are Saying About the Blank Check Mortgage Bailout

“The bail-out of Fannie Mae and Freddie Mac by the combined forces of the US Treasury and the Federal Reserve Board is the ugliest exercise of its kind I have ever observed outside early transition economies and mature banana republics.” - Professor Willem Buiter, London School of Economics   “The Sunday statement and plan by Secretary Paulson to rescue Fannie and Freddie is the ultimate implementation of socialism for the rich and the well connected.” - Professor Nouriel Roubini, Stern School of Business at NYU

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Press Release

What Others are Saying About the Blank Check Mortgage Bailout

“The bail-out of Fannie Mae and Freddie Mac by the combined forces of the US Treasury and the Federal Reserve Board is the ugliest exercise of its kind I have ever observed outside early transition economies and mature banana republics.” - Professor Willem Buiter, London School of Economics   “The Sunday statement and plan by Secretary Paulson to rescue Fannie and Freddie is the ultimate implementation of socialism for the rich and the well connected.” - Professor Nouriel Roubini, Stern School of Business at NYU

07/21/2008
Al Gore's Impractical High Hopes

Al Gore did not claim he invented electricity last Thursday. But the words he uttered in his challenge on energy carried just as much fantasy. According to Gore, the goal of producing every kilowatt of the nation’s electricity from carbon-free renewable sources like solar, wind, and geothermal within 10 years is not a far-fetched vision. In his address at the Daughters of the American Revolution Constitution Hall, Gore challenged America to abandon its fossil fuel usage altogether.

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Newspaper Article

Al Gore's Impractical High Hopes

BY Cassandra Kane

Al Gore did not claim he invented electricity last Thursday. But the words he uttered in his challenge on energy carried just as much fantasy. According to Gore, the goal of producing every kilowatt of the nation’s electricity from carbon-free renewable sources like solar, wind, and geothermal within 10 years is not a far-fetched vision. In his address at the Daughters of the American Revolution Constitution Hall, Gore challenged America to abandon its fossil fuel usage altogether.

07/21/2008
MORE ON AL GORE

Al Gore did not claim he invented electricity last Thursday. But the words he uttered in his challenge on energy carried just as much fantasy. According to Gore, the goal of producing every kilowatt of the nation’s electricity from carbon free renewable sources like solar, wind, and geothermal within 10 years is not a far fetched vision. In his address at the Daughters of the American Revolution Constitution Hall, Gore challenged America to abandon its fossil fuel usage altogether.

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Blog Hit

MORE ON AL GORE

BY Mark Golding

Al Gore did not claim he invented electricity last Thursday. But the words he uttered in his challenge on energy carried just as much fantasy. According to Gore, the goal of producing every kilowatt of the nation’s electricity from carbon free renewable sources like solar, wind, and geothermal within 10 years is not a far fetched vision. In his address at the Daughters of the American Revolution Constitution Hall, Gore challenged America to abandon its fossil fuel usage altogether.

07/21/2008
Fannie & Freddie: Playing with a Stacked Deck

Essay by Bill Bonner As recently as February of this year, Russian officials cleared the way for two of its sovereign wealth funds, the Reserve Fund and National Wellbeing Fund, to invest in various foreign bonds, including those issued by the twin towers of American residential finance, Fannie and Freddie. “The prospect for every GSE bond clearly states that it is not backed by the United States government,” says Matt Kibbe, president of FreedomWorks. “That’s why investors holding agency bonds already receive a significant risk premium over Treasuries.”

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Blog Hit

Fannie & Freddie: Playing with a Stacked Deck

BY foundingfather1776

Essay by Bill Bonner As recently as February of this year, Russian officials cleared the way for two of its sovereign wealth funds, the Reserve Fund and National Wellbeing Fund, to invest in various foreign bonds, including those issued by the twin towers of American residential finance, Fannie and Freddie. “The prospect for every GSE bond clearly states that it is not backed by the United States government,” says Matt Kibbe, president of FreedomWorks. “That’s why investors holding agency bonds already receive a significant risk premium over Treasuries.”

07/20/2008
Bad News for Belgian Taxpayers

A quote from FreedomWorks, 11 July 2008 The top five foreign holders of [troubled mortgage lenders] Freddie [Mac] and Fannie [Mae] long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury's most recent "Report on Foreign Portfolio Holdings of U.S. Securities."

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Blog Hit

Bad News for Belgian Taxpayers

BY From the desk of The Brussels Journal

A quote from FreedomWorks, 11 July 2008 The top five foreign holders of [troubled mortgage lenders] Freddie [Mac] and Fannie [Mae] long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury's most recent "Report on Foreign Portfolio Holdings of U.S. Securities."

07/20/2008
Who pays?

Politicians don't like to say who really ends up paying, not just for the massive bailouts on the horizon, but for programs, earmarks, and the day to day waste in government spending.  Few connect the dots between the billions - or in the case of Fannie and Freddie trillions - they write into legislation as if it were Monopoly money and the very real, hardworking Americans who truly foot the bills.  Like Elaine's former boss Mr. Lippman in "The Muffin Tops," politicians wave their hands in the air and say "The money is all in the air.

http://d7.freedomworks.org.s3.amazonaws.com/styles/thumbnail/s3/te_social_media_share/fw_default_0.jpg?itok=mX_C44GW
Blog

Who pays?

Politicians don't like to say who really ends up paying, not just for the massive bailouts on the horizon, but for programs, earmarks, and the day to day waste in government spending.  Few connect the dots between the billions - or in the case of Fannie and Freddie trillions - they write into legislation as if it were Monopoly money and the very real, hardworking Americans who truly foot the bills.  Like Elaine's former boss Mr. Lippman in "The Muffin Tops," politicians wave their hands in the air and say "The money is all in the air.

07/18/2008

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