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Economy

Fed Wants To ‘Raise Property Taxes’ To Solve Illinois Pension Crisis

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The Federal Reserve Bank in Chicago wants to correct the state’s ailing pension crisis with… you guessed it, raising property taxes. As already one of the most taxed states in the nation, this is not only insane, but very detrimental to the existing economy. Already Illinois has had been close if not leading the charge in most people leaving the state. The Republican Governor seems to be completely disregarding what his base wants, which is a massive push back to the public sector’s massive raising pensions.

Zerohedge Reports: Homeowners with houses worth $250,000 would pay an additional $2,500 per year in property taxes, those with homes worth $500,000 would pay an additional $5,000, and those with homes worth $1 million would pay an additional $10,000.

Is the Chicago Fed blind to human consequences? Confiscatory property tax rates have already robbed hundreds of thousands, maybe millions, of Illinois families of their home equity — probably the lion’s share of whatever wealth they had.

Property taxes in many Illinois communities already exceed 3%, 4% and even 5% of home values. Across Illinois, the average is a sky-high 2.67 percent, the highest in the nation.
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Economy

It’s raining money in America and Democrats are miserable

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Tuesday, Fox News reported:

“Despite President Trump’s tit-for-tat trade barbs, America’s CEOs are not wasting anytime in taking advantage of his tax reform plan. Over $300 billion was repatriated to the U.S. in the first quarter, according to the Bureau of Economic Analysis (BEA) — the most on record.

“U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home,” said Kevin Hassett, chair of the president’s Council of Economic Advisers, during an interview on FOX Business’ Varney & Co. in June.”

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ECONOMIC PEACE THROUGH STRENGTH:

 

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Economy

Pompeo: “American power and economic mighty tool for Department of State”

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Monday, Secretary of State, Mike Pompeo delivered remarks entitled “America’s Economic Revival” to the Detroit Economic Club at Ford Field in Detroit, Michigan.

“First, we’re working to maintain American sovereignty on the world economic scene. If the U.S. Government does not participate in robust international economic engagement, we will lose out to places like China. But we can never lose our economic sovereignty in doing so,” said Pompeo.  “Second, the State Department has a primary responsibility ensuring markets are open.”

Pompeo highlighted economic diplomacy’s role in President Donald J. Trump’s National Security Strategy.

“Third, we’re working hard to attract international investment here in the United States,” he said. “Fourth, we’ll capitalize on Americans’ abundant energy resources.”

“If you look around, there have been those that have criticized some of the tariffs. But just ask yourself: Would China have allowed America to do to it what China has done to America?” said Pompeo.

“Let’s be clear: It [China] is the most predatory economic government that operates against the rest of the world today. This is a problem that is long overdue in being tackled.”

Pompeo in Tweets

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Economy

Trump brought a stealth bomber to a gun fight at the G7 and John McCain lives to spit at USA

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Saturday, President Donald J. Trump was the center of attention at the G7 meeting of world leaders talking about Tariffs.  American Democrats attacked the President for defending American citizens and they mocked economic justice for the forgotten Americans.

“I blame our leaders and I congratulate leaders of other countries for taking advantage of our leaders,” Trump said. “It’s going to stop. Or we’ll stop trading with them. And that’s a very profitable answer if we have to do it.”

Trump said that America’s trading partners would be making a mistake if they retaliated against new U.S. tariffs.

“If they retaliate they’re making a tremendous mistake because you see we have a tremendous trade imbalance,” he said. “The numbers are so much against them, we win that war 1000 times out of a 1000.”

In response, John McCain, who has vacated his Senate responsibilities in  Arizona and has stayed on a taxpayer-funded vacation for months, turned to Twitter to post that he is upset with Trump:

Trump says he has great relationships with the world leaders, “I would say it is a 10, I would rate our relationships a 10, but I don’t agree with them and they know that” Trump said at his News Conference.

NOT BUDGING

Not everyone wants Americans to stay poor and unemployed.  Supporters of Trump felt his Strong stand to defend American citizens was a good thing.

TELL YOUR FAKE FRIENDS THIS, THE GIG IS UP

“Fake News CNN, I would say the relations is a 10, we have a great relationship, and I don’t blame them, I blamed out past leaders.  There is no reason for this.  It is the fault of the people who proceeded me, back 50 years.  We used to have no debt. I will blame them if they don’t do what they need to do.  They have no choice.  Our Farmers have been hurt.  We are going to fix this, or we are not going to deal with these countries,” said Trump.

WATCH:

 

It is the 99th end of America since Trump took office, according to MSNBC

“If they thought they were going to lecture Trump on the glories of free trade, they got a rude awakening. He came to a gun fight armed with a stealth bomber,” one U.S. official told Breitbart News.

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