Currency

Obamacare success story cited by Obama ends with woman having to pay penalty rather than receiving insurance

Jessica Sanford, the Washington State woman cited by Obama as a success story, received more bad news Tuesday.

Are Americans taking personal liberties for granted?

Conservative Member of European Parliament Daniel Hannan sounds off.

Why did the gold price plunge $10 in 10 seconds?

Why did the gold price plunge $10 in 10 seconds?

Traders in London were left scratching their heads on Wednesday morning when a rapid-fire 10-second spell of selling sent gold prices quoted on a Bloomberg monitor down suddenly by about $10 (£6) to trade near $1,260 an ounce. IG Markets commented that the fall came suddenly following a 2,000-contracts sell order hitting the market, but the incident shows how markets… Read more →

As U.S. default threatened, banks took extraordinary steps

As U.S. default threatened, banks took extraordinary steps

(Reuters) – As the United States threatened to default on its debt last month, major U.S. banks set up war rooms, spent many millions of dollars on contingency planning and, in some cases, even prepared to underwrite federal government benefits. In a series of interviews with top bank executives, new details emerged about the extent of the contingency planning that… Read more →

OBAMA'S INSURANCE 'FIX' IS UNCONSTITUTIONAL

OBAMA’S INSURANCE ‘FIX’ IS UNCONSTITUTIONAL

Outlets are quoting Democratic operative Howard Dean saying of President Barack Obama suspending certain Obamacare requirements, “I wonder if he has the legal authority to do this.” To remove all doubt: The Take Care Clause of the Constitution absolutely forbids any president from doing exactly what Obama did Thursday. Obama said he would allow insurance companies to keep offering previously-offered insurance… Read more →

Debbie Wasserman Shultz’s reaction to Obamas’s Press Conference

Andrea Mitchell attempts to get Debbie Wasserman Shultz’s reaction to Obamas’s Press Conference, all she can do is blame the GOP

A tax that is rarely discussed that also helps fund Obamacare: A tax on high-income taxpayers when they sell their homes

Franklin Lakes, New Jersey (My9NJ) -

The Affordable Care Act or Obamacare seems to be in the headlines every day because of all of the problems surrounding the launch. And while most realize the law is funded in part by the individual mandate and penalty tax, it is also being funded in ways that are not discussed as much in the media.

Luxury real estate broker Ron Aioso says there is a tax that is rarely discussed that also helps fund Obamacare. It is a tax on high-income taxpayers when they sell their homes.

Franklin Lakes, N.J. was listed on Forbes.com in 2010 as one of “America’s Most Expensive ZIP Codes”, with a median home price of $1.3M.

Aioso says homeowners in a neighborhood like this could really be impacted by the Obamacare tax.

“Where we are today in a luxury area, you look and you see this home behind me, somebody like this is really affected,” he said.

If you are single with an adjusted gross income of $200,000 or file jointly with an income of $250,000 or more, you may be impacted. Once you sell your home, any profits over the first $500,000 are already subject to a capital gains tax. And now those profits will have an additional 3.8% tax to fund Obamacare.

Aioso noted that there is also a lot of confusion surrounding this tax and many homeowners know little about it.

“I think more than anything we need some education on it so people fully understand what is this 3.8%? What am I paying?” Aioso said.

 

This is a copy of the full article provided by MY9NJ

The numbers don’t lie: Obamacare enrollment figures or President Barack Obama’s declining poll standing

Washington (CNN) – The numbers don’t lie: whether you look at the low Obamacare enrollment figures or President Barack Obama’s declining poll standing, what you see is a White House — and a presidency — at a crossroads, facing persistent questions about credibility and competence.

The question now consuming Washington is whether this is just a temporary bad turn or a tipping point.

 

CNN has the full article

Americans’ Participation in Labor Force Hits 35-Year Low

(CNSNews.com)  The percentage of American civilians 16 or older who have a job or are actively seeking one dropped to a 35-year low in October, according to the Bureau of Labor Statistics.

In September, the labor force participation rate was 63.2 percent, but in October it dropped to 62.8 percent—the lowest it has been since February 1978, when Jimmy Carter was president.

The labor force, according to BLS, is that part of the civilian noninstitutional population that either has a job or has actively sought one in the last four weeks. The civilian noninstitutional population consists of people 16 or older, who are not on active-duty in the military or in an institution.

At no time during the presidencies of Ronald Reagan, George H.W. Bush, Bill Clinton or George W. Bush, did such a small percentage of the civilian non-institutional population either hold a job or at least actively seek one.

Americans’ Participation in Labor Force Hits 35-Year Low

The BLS has been calculating the national labor force participation rate since 1948. From that year until 2000, when labor force participation peaked at 67.3 percent, the percentage of the civilian noninstitutional population that either held a job or was seeking one generally was on the rise. Since 2000, the percentage has been trending down.

When President Barack Obama took office in January 2009, the labor force participation rate was 65.7 percent. By the beginning of 2013, the start of Obama’s second term, it had dropped to 63.6 percent. Since this January, it has continued to decline, hitting a 35-year low of 62.8 percent in October.

When someone drops out of the labor force and ceases to actively seek a job, they are no longer counted as “unemployed.” The BLS counts as “unemployed” only those who have actively sought a job in the last four weeks. The unemployment rate is the percentage of people in the labor force who did not have a job in the last four weeks but were actively seeking one.

People in the civilian noninstitutional population who did not have a job and did not actively seek one in the last four weeks are considered “not in the labor force.” The number of Americans not in the labor force has climbed by 11,034,000 since Obama took office, rising from 80,507,000 in January 2009 to 91,541,000 in October.

Despite the 11,034,000 who have dropped out of the labor force since Obama took office, the national unemployment rate has remained at a relatively high level. In January 2009, it was 7.8 percent. Since then, it has never dropped below 7.2 percent, the level it hit this September before rising to 7.3 percent this October. October was the 59th straight month of 7-percent-plus unemployment in the United States.

 

This is a copy of the full article provided by CNS News

(Graph/Photo discovered on CNS News)

Central Banks Risk Asset Bubbles in Battle With Deflation Danger

Central Banks Risk Asset Bubbles in Battle With Deflation Danger

Central banks are finding it’s easier to push up stock and home prices than it is to prevent inflation from falling short of their targets. While declining costs for everything from gasoline to coffee can be good news for consumers, disinflation makes it harder for borrowers to pay off debts and businesses to boost profits. The greater danger comes when disinflation turns… Read more →