Daily Archives: March 29, 2017

GOP Targets Taxes as Government Nears 20 Percent of Economy – LifeZette

Posted: March 29, 2017 at 11:51 am

The federal government is on track to collect more than $3.6 trillion in revenue for the current fiscal year, roughly 18.9 percent of of the nations $19.3 trillion economy.

And still, it will not be enough to keep the government in the black.

Washington definitely has a spending problem, not a revenue problem.

By fiscal year 2021, according to projections by the Office of Management and Budget, revenues will hit 20 percent of gross domestic product (GDP), a figure reached just once since World War II. The fact revenues are near historic highs is important to keep in mind as the debate over tax reform gets ready to kick off in earnest over the next few weeks, according to conservative budget experts.

Washington definitely has a spending problem, not a revenue problem, said Adam Michel, a policy analyst at the Heritage Foundation. Were spending our money on too many things.

Tax Revenue as Share of GDP

Source: Office of Management and Budget

This Week host George Stephanopoulos on Sunday offered a preview of what will come when he grilled House Freedom Caucus Chairman Mark Meadows (R-N.C.) about whether Congress needs to cut a dollar of spending for every dollar of tax cuts.

Does it have to be fully offset? My personal response is no, Meadowssaid.

That prompted surprise from Stephanopoulos.

Oh, well that seems like a bit of a shift, he said.

Meadows argued lower taxes would stimulate economic growth, increasing wages and tax revenue. Stephanopoulos surprise notwithstanding, that has been standard Republican philosophy since the days of President Ronald Reagan. The GOP should not run away from it now, said Grover Norquist, president of Americans for Tax Reform.

We had similar complaints when Reagan took the marginal tax rates down, he told LifeZette.

Norquist said the economy averaged about 2 percent economic growth under former President Barack Obama. Boosting that to 3 percent would produce an additional $2.5 trillion over a decade, he said. He said a 4 percent growth rate, achieved in the Reagan and Clinton administrations, would mean $5 trillion.

The way to raise revenue is economic growth, he said. The Ds have it all wrong. They want to keep spending money and have lousy economic growth. We tried that for eight years.

A 2013 study by economists Karel Mertens and Morten Ravn found a 1 percentage point cut in the average personal income tax rate raises economic growth per capita by 1.4 percent in the first quarter and 1.8 percent after three-quarters. An equivalent cut in the corporate income tax rate raises GDP by .4 percent in the first quarter and .6 percent after a year.

Norquist argued that not all tax cuts are equal, though. He said President George W. Bushs 2001 tax cut was mainly through tax credits, which have a limited impact on GDP. He urged Congress to pass growth tax cuts that would be longer-lasting.

Michel, of the Heritage Foundation, noted that federal revenues as a share of GDP have held fairly stable within a few percentage points for decades, despite changes in tax rates.

The inability to sort of move beyond that speaks to how difficult it is to squeeze more money out of the tax code by raising rates, he said.

Michel said tackling deficits and the national debt over the long haul depends on spending reform. He said that means taking on the big-ticket items like Social Security and health care spending.

There are definitely reforms that can be done in these areas where we can contain costs, and I think we need to look at these areas, he said.

Norquist said cutting taxes also could help reduce spending if it juices the economy and reduces government dependency.

Growth, growth, growth is the way to reduce spending because you spend less on welfare, he said.

Although some experts contend that tax reform is even harder than the health care overhaul that failed last week, Norquist argued that it is easier. The people hurt by the failure to repeal Obamacare are diffuse, he said. The people hurt by taxes, he added, are well-known, and they know who they are. And they know who to be made at.

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5 Action Strategies for Financial Independence – Kiplinger – Kiplinger Personal Finance

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5 Action Strategies for Financial Independence - Kiplinger
Kiplinger Personal Finance
Even those close to retirement can make a few simple moves to secure their futures. From HSAs to creative mortgage-payoff plans, every little bit helps.

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NOEM: Fighting for financial independence – Rapid City Journal

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For many, preparing for Tax Day only highlights just how much of a persons paycheck is redirected straight into the federal governments bank account. The truth is our tax returns only tell part of the story.

Federal regulations add thousands of dollars more in hidden costs every year for South Dakota families. Ive heard from many that enough is enough and I agree. So regardless of if its tax or regulatory reform, Im focused on giving you more financial independence.

One of the first places Im looking to save you money is on your taxes. Last year, I helped outline a simpler and fairer tax code. In totality, the plan is estimated to save the average family $4,600 per year, according to analysis done by The Tax Foundation. On top of that, they expect the plan would help grow the economy by 9.1 percent over the next 10 years, which translates into more jobs and higher wages.

The way were proposing to do this may save more than money. Under our plan, tax returns may be simple enough to fit on a postcard, hopefully saving taxpayers the six billion hours we collectively spend doing our taxes each year.

Like I mentioned before, there are also hidden costs the federal government imposes. Today, almost 25 percent of a new family homes final cost is dealing with regulations to build that home.

Under Obama-era motor-vehicle regulations, the cost of a new car could spike almost $3,000 by 2025. Meanwhile, regulations on everything from light bulbs to dishwashers could increase consumer costs by as much as $1,600. And it just keeps adding up from here.

Already, President Trump and Congress have worked together to delay, repeal or dismantle more than 90 regulations put in place by President Obama. But more must still be done.

In addition to dismantling the unnecessary regulations piece-by-piece, Ive supported legislation to make it much more difficult to impose these massive regulations in the first place. Just days into 2017, the House passed a bill I co-sponsored that would require any major regulation to be approved by Congress. If enacted, it would be an unprecedented check on federal bureaucracy.

After eight years under President Obama, I think too many have accepted a status quo that leaves less money in your pocket and puts more decisions in the governments hands. Whether its regulatory reform or tax reform, there is a path forward that gives you more freedom and financial independence.

Ultimately, thats the path I will always pursue.

Kristi Noem represents South Dakota in the U.S. House of Representatives.

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Priceless financial tips from ‘Billionaire Cab Driver’ money guru – WND.com

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Financially savvy readers and anyone who wants to learn more about money management shouldpay close attention to the advice of WNDs newest columnist, Jody Tallal. After all, for most of his professional career, he was paid to give valuable financial advice to clients. And now Tallal will be giving weekly advice to readers for free.

Personal financial manager Jody Tallal Jr.

Jody Tallal Jr. is a man of many talents and interests. A personal financial manager to wealthy professionals, Tallal became one of the first fee-only advisers in the 1970s. His success led to development of a money-management course to train medical professionals at Baylor Medical School, University of Tennessee Health Sciences and Tulane Medical School.

Tallal has been named an honorary citizen by several city mayors nationwide and also received the Presidents Medal of Merit from former President Ronald Reagan. In 1981, he served on the Chairmans Committee of the United States Senatorial Business Advisory Board.

Tallals first column, 5 questions that reveal whether youre living in financial denial, debuts Monday on WND.

He has also written a cutting-edge book, Billionaire Cab Driver: Timeless Lessons for Financial Success, offering an easy-to-read financial primer couched in a fanciful tale of success and discovery. In fact, Billionaire Cab Driver reveals all the secrets of personal financial planning that should have been taught to everyone in school.

Billionaire Cab Driver: Timeless Lessons for Financial Successis an easy-to-read financial primer from a man who revolutionized the personal financial management industry. Jody Tallals Billionaire Cab Driver offers timeless lessons for financial success, no matter your occupation, salary or personal savings.

So how did a cab driver from the small, fictitious Polynesian island of Kiki Loa become worth more than $20 billion?

That is what one of Tallals main characters, Dan Langston, and hundreds of other reporters, all wanted to know.

Langston won the rights from cabbie Mr. Kane to report his remarkable life story, and Billionaire Cab Driver: Timeless Lessons for Financial Success is the result.

Set for publication April 18 by WND Books, its a fantastic story in which ancient wisdom meets modern-day techniques. Billionaire cab driver Mr. Kane drives reporter Mr. Langston around the island for a full day as he explains the secrets to building personal financial independence using examples already present in nature. By the days conclusion, the cab driver has revealed all of the major principles necessary for building a successful personal financial plan, including:

Billionaire Cab Driver: Timeless Lessons for Financial Successis an easy-to-read financial primer from a man who revolutionized the personal financial management industry. Jody Tallals Billionaire Cab Driver offers timeless lessons for financial success, no matter your occupation, salary or personal savings.

Designed to create a paradigm shift in the way people think about and relate to money and the ability to use it in a way to achieve their financial dreams, Billionaire Cab Driver: Timeless Lessons for Financial Success is organized in a captivating parable format that makes it easy for anyone to understand how to become financially independent. Readers understanding of financial concepts grows a layer at a time, and by the end of the book, they enjoy a fantastic story and develop a strong, new foundation of knowledge concerninghow to take charge of their financial future.

Praise for Billionaire Cab Driver: Timeless Lessons for Financial Success:

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Sealand church invites 164 wed couples on anniversary – BBC News

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Sealand church invites 164 wed couples on anniversary
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A Flintshire church has invited 164 couples married within its walls to a celebration of its 150th anniversary. St Bartholomew's Church in Sealand asked all the couples for whom it has hosted a wedding ceremony in the last 50 years to attend its ...

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Sealand church celebrates 150 years of weddings with exhibition – LeaderLive

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A Flintshire church has celebrated 150 years of weddings.

St Bartholomews Church in Sealand celebrated 150 years of weddings with an exhibition of dresses of brides who were married in the church, photo albums of past weddings, marriage certificates and registers and even displays of royal weddings, including Queen Victorias.

Organiser Steven Smith said: She started off the trend of white wedding dresses, which then became the in thing.

Invitations were sent to more than 160 couples who exchanged their vows at the church and more over100 people visited the exhibition.

Many visited to look through their family history via the marriage registers, which dated back to 1867 when the church was built and the first couple was married.

Steven said extensive detail was provided about the occupations of the people visiting the church when it first opened.

He added: It was a new area, mostly agricultural, but through the exhibition you could begin to see new industries developing. Its a fascinating social history.

Around 164 couples have been married in the church over the last 50 years.

People who are getting married next week in Chester Cathedral came to visit to look through all the different wedding traditions and to find out more information.

Were hoping this is a long-term thing because not everyone could come [to the exhibition]. This is all part of a 150 year anniversary and well be having another event in June about the building of the church.

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Work on the new A548 Sealand Road ‘average speed’ camera system set to begin today – Deeside.com

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Work will start today on an the new average speed camera enforcement system on A548Sealand Road announced by Flintshire County Council last week.

Initial installation will take place over the next three nights between 8pm and 6am, temporary traffic lights will be in place during the work.

The council says the new average speed camera system on the A548 Sealand Road will be up and running in weeks.

The new speed camera system will manage the speeds of motorists along this route which has historically witnessed a number of serious, speed related accidents.

Campaigners have been battling for years to see action taken ofn the busy link road between Chester and Flintshire.

Businessman Adam Dandy and councillors Christine Jones and David Wisinger have been at the forefront of a campaign to see a new speed camera installed on the road.

Mr Dandy who owns Dandys Topsoil which is close to where two fatal collision took place said;

After receiving the news that Flintshire County Council would be installing average speed cameras along Sealand Rd, I spoke with the mothers of two young men who sadly lost their lives on this stretch of road, both told me that they hoped that the new system would prevent yet another family from having to loose a loved one on this Rd in the future.

I would like to thank local Cllrs Christine Jones, David Wisinger, Cllr Bernie Attridge and Leader of FCC Aaron Shotton for their tremendous support and determination, to do everything in their power to protect local families and workers who use Sealand Rd, from future speed related deaths and injuries.

Whilst speed cameras are not popular in general, and educating drivers to drive safely is the most important tool in trying to prevent speed related road accidents, we as a community can no longer sit by and watch even more people loosing their lives on this stretch of road, without doing all we could to try to prevent more families from suffering.

The council say appropriate signage will be installed at the entry points and additional repeater camera signs will be installed along the section of Sealand Road affected by the proposals.

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Speed camera on Sealand Road will ‘prevent the same heartache’ – LeaderLive

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Work is to begin on an average speed camera system next week following years of campaigning.

Flintshire Council has confirmed it is working in partnership with road safety charity GoSafe to install a 130,000 enforcement system on the A548 Sealand Road.

The scheme is the first of its kind in North Wales and is expected to be live within weeks of installation.

Studies carried out by the local authority identified the majority of the accidents have been shown to be speed related.

In a bid to curb the number of accidents the system will operate over a four km stretch of the A548, from the existing 40mph speed limit east of Manor Road to the county boundary with Cheshire.

The system will measure average speeds over the route and fixed penalty notices will be issued if vehicles are found to be exceeding the speed limit along the route.

Cllr Bernie Attridge, deputy leader of Flintshire Council and cabinet member for environment, worked with campaigners to get the camera installed.

He said the new speed deterrent would help save lives.

Im pleased now its gone through the process and its going to be installed, he said. Ive been a great advocate for this and I believe it will save lives on Sealand Road.

Campaigners have pushed for this and Im glad weve been able to put this in and it has the desired effect.

Appropriate signage will be installed at the entry points and additional repeater camera signs will be installed along the section of Sealand Road affected by the proposals.

The new speed camera system will manage the speeds of motorists along this route which has historically witnessed a number of serious, speed- related accidents.

Adam Dandy, whose business is situated on Sealand Road, is glad work is to get under way after years of campaigns.

He said: Ive spoken to families of those who lost lives there and they are overjoyed that this camera is coming in.

Hopefully it will save families from going through the same distress and heartache they have already been through.

Were made up this camera is being installed and it will be a lifesaver.

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A list of Caribbean Shipwrecks | Pirate Shipwrecks …

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The following is a list of shipwrecks that have been found. Some are old some are new.

Bahamas * SS Sapona a cargo steamer run aground near Bimini during a hurricane in 1926.

Bermuda * Sea Venture grounded off the coast in 1609, subsequently broke up and sank. * Warwick English cargo ship sunk in a gale in Castle Harbor in 1619, discovered in 1967. * San Antonio Portuguese nao wrecked on the west reefs in 1621, discovered in 1960. * Eagle Virginia Company ship wrecked in 1659. * Virginia Merchant Virginia Company ship wrecked in 1661. * Unidentified ship wrecked around 1750, found in 1983, known as the Frenchman wreck. * Unidentified ship wrecked mid-18th century, known as the Manilla wreck. * Hunters Galley wrecked in 1752. * Katherine wrecked in 1763. * Mark Antonio Spanish privateer, wrecked in 1777, discovered early 1960s. * Lord Amherst British armed transport wrecked in 1778. * HMS Cerberus lost at Castle Harbor in 1783. * HMS Pallas ran aground in 1783 off St. Georges Island, wreck has not been identified. * Caesar wrecked on a reef in 1818 en route from England to Baltimore. * Collector wrecked in 1823. * LHerminie French frigate wrecked in 1838. * Unidentified ship wrecked in 1849, believed to be the Minerva though that ship was wrecked in 1795. * Curlew wrecked on the northern reefs in 1856. * Montana American Civil War blockade runner sank in 1863. * Mari Celeste American Civil War blockade runner being piloted by a Bermudian, sank in eight minutes in 1864. * Beaumaris Castle ran aground in 1873. * Minnie Breslauer ran aground in 1873. * Alert fishing sloop sank in 1877. * Kate British steamer wrecked in 1878. * Lartington wrecked in 1879 after just five years of operation. * North Carolina wrecked off West End in 1880. * Darlington wrecked on the Western Reef in 1886. * Richard P. Buck caught fire and sank following a storm in 1889. * Apollo wrecked on the reefs in 1890. * Avenger wrecked on Mills Breakers in 1894. * HMS Vixen scuttled in 1896. * Madiana former Balmoral Castle, built 1877, wrecked 1903 * Pollockshields former Herodot, wrecked in 1915 near Elbow Beach. * Blanch King wrecked on the southwest reefs in 1920. * Taunton Norwegian steamer wrecked on the northern reefs in 1920. * Caraquet mail steamer wrecked on the northern barrier reef in 1923. * Zovetto cargo steamer ran aground in 1924, also known as Zovetta or Rita Zovetto. * Mussel Bermudian fishing boat wrecked in 1926. * Cristobal Colon Bermudas largest shipwreck sank in 1936. * Iristo Norwegian steamer also known as Aristo, grounded in 1937 after mistaking the Colon wreck for a ship still underway. * Pelinaion Greek steamer wrecked in 1940. * Constellation made famous in The Deep, sank in 1942. * Colonel William G. Ball wrecked on Mills Breakers in severe weather in 1943. * Wychwood ran aground in 1955, refloated, then sank again. * Elda wrecked in 1956 near the Eagle wreck. * Ramona Canadian ship wrecked in 1967, refloated for salvaging, re-sunk near Dockyard. * King American ship scuttled in 1984, first intentionally-created dive site in Bermuda. * Hermes American ship deliberately scuttled in 1984. * Triton scuttled in 1988 as a dive site.

British Virgin Islands * HMS Astraea a British frigate wrecked off the coast of Anegada on 23 May 1808. * HMS Nymph a British sloop caught fire, foundered and sank in Road Towns harbour in 1783. * RMS Rhone a British packet ship wrecked during a hurricane off the coast of Salt Island on 29 October 1867.

Dominican Republic * Nuestra Seora de Guadalupe a Spanish galleon sunk by hurricane in Samana Bay on 24 August 1724. * Conde de Tolosa a Spanish galleon run aground during a hurricane in Samana Bay on 25 August 1724. * St. George sunk as an artificial reef near La Romana in 1999. * Astron a freighter scuttled just off the coast of Punta Cana. * Monte Cristi Pipe Wreck sunk off the north coast of the Dominican Republic in the later part of the 17th century. * La Viete, French merchant ship, lost on a voyage of reinforcement and supply with a demi-brigade of artillery and infantry, their equipment, and a large shipment of specie (coins), etc. in 1802. This may be the wreck discovered by North Caribbean Research S.A. off Punta Luna. The Punta Luna wreck project is directed by NCRs Rick Berry.

Grenada * Bianca C a passenger ship sunk multiple times before becoming the Caribbeans largest shipwreck, near Grand Anse, in October 1961.

Haiti * Bluenose a Canadian schooner foundered on a reef on 28 January 1946.

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DC’s Legends of Tomorrow: "Doomworld" Review – IGN

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Warning: Full spoilers for the episode below.

The Flashs third season has been aggravating for a number of reasons, but high on the list is the fact that the Flashpoint reality turned out to be such a dud. Rather than present a drastically different alternate universe where all the rules have changed, Flashpoint was content to merely ruffle a few feathers before returning the show to a more familiar status quo. Once again, it falls on Legends of Tomorrow to do what other Arrow-verse shows seem unwilling or unable. Doomworld offered the fun yet dramatic alternate universe story we didnt get all those months ago.

Doomworld offered viewers a taste of what happens when the bad guys win and gain the power to bend reality to their whim. And what better way to kick things off than a scene where a costumed Felicity Smoak is being hunted down by Sara Lance and Amaya Jiwe? It really seemed like the writers were trying to cater to both the pro- and anti-Felicity camps there. The former got to see her masquerading as a costumed vigilante for a minute or two, and the latter got to watch as Damien Darhk snapped her neck. Its a shame we didnt see more familiar faces from The Flash and Arrow (especially with the mention of Tommy Merlyn being alive), but clearly the Legion of Doom have been keeping busy since altering reality.

And to be fair, it was enough simply seeing how the Legends have changed to fit this new reality. Each team member was given a demeaning, thankless role in Thawnes new world order. Sara and Amaya were reduced to giggling, ditzy henchwomen. Professor Stein became Jaxs workplace punching bag. Rip and the Waverider were shrunk down into a glorified office decoration. Most amusingly of all, Nate went from accomplished historian and superhero to long-haired loser living in his mothers basement.

All of this served as yet another reminder that Legends really knows how to have fun with its characters even in its darker moments. There were plenty of fun little touches throughout the episode. The old Legion of Doom headquarters from Super Friends put in an appearance. Darhk made a great crack about Sara never staying dead. There was the hilarious recurring gag where each characters first action after having their memories restored was to punch Mick in the face. Just in terms of pure entertainment value, this episode never let up.

That was especially true in the final showdown between the Legends and the Legion. Even with the former group lacking their super-powers, that battle managed to be pretty darned epic. Its not every week you get to see Reverse-Flash smacked across a room like a teeball.

None of this is to say the writers shied away from the darkness of this new reality. In between all the alternate universe tomfoolery, he show did get veer about as dark as weve seen all season. It was especially nice to see Mick placed at the center of the conflict. Last week, he was forced to choose between his loyalty to the Legends and to his old partner-in-crime. This week, Mick came to realize that he chose poorly and did his best to atone for that mistake. Once again, we got to see Dominic Purcell explore a subtle, more tumultuous side of his character, and once again he rose to the challenge admirably.

You really have to feel for Mick. He betrayed his new friends for the sake of his old partner, and that partner repaid him by murdering one of the few people Mick truly cares for. As much as Mick claims to value solitude, he doesnt seem too thrilled by the fact that hes more alone now than he ever has been. Im looking forward to seeing how his season-long character arc wraps up next week.

If theres a complaint to be lodged against this episode, its that the uncertain nature of this new reality undercut some of the drama during the climax. Its hard to know how to react to the death of Amaya when theres a very real possibility that shell be back in action soon enough. There needs to be lasting consequences to this confrontation between the Legion and Legends, whether that involves permanent character deaths or simply character relationships that are irrevocably altered. As is always the case with these Arrow-verse shows, a lot is riding on the finale and its ability to wrap up the season on a proper note.

The Verdict

With "Doomworld," Legends of Tomorrow managed to deliver the fun yet dramatic alternate universe episode that The Flash didn't last fall. This episode was never short on entertainment value as it explored how the team's lives have changed in Eobard Thawne's new utopia. At the same time, this episode wasn't afraid to go dark and explore the inner turmoil plaguing Mick Rory. The only thing holding this episode back is the uncertainty over how many of the dramatic plot twists will actually remain in effect.

Editors' Choice

Great

This week's Legends of Tomorrow offered an entertaining look at a world where the Legion of Doom reign supreme.

28 Mar 2017

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