The Mortgage Deduction Nightmare

How Obama’s Tax Plans Threaten to Wipe Out the Upper Middle Class

By Wayne Allyn Root

Why is Obama trying to ruin the lives of millions of small business owners and upper middle class American homeowners? And why is Obama trying to do it without warning, without discussion, without hearings - hidden in debt ceiling negotiations? Obama uses words like “the rich” and “fairness,” but it’s important to understand that his goal of taking away the mortgage interest tax deduction won’t hurt his super-rich, jet-set contributors, like Jeffrey Immelt, CEO of G.E. His company made over $12 billion last year and paid zero U.S. taxes. Zero!  But that doesn’t bother Obama. His plan to eliminate the mortgage interest deduction is aimed squarely at upper middle class American homeowners, small business owners, and retirees whose entire lifetime of hard work is tied to their home. Those groups will be devastated. [more...]

Why the Greatest Depression of All Time Has Begun

By Wayne Allyn Root

I predicted doom if Obama was elected. Sadly the results are far worse than imagined. The economy is in shambles. America is staring at economic disaster - Armageddon. Even I, the eternal optimist, am scared at what the future holds. We are the Titanic, headed straight for the iceberg. America has always been a land of boom and bust; it’s just part of the business cycle. But Obama and his socialist cabal have channeled Hoover and FDR, who turned an ordinary bust into The Great Depression, with a toxic strategy of more government, more spending, more debt, more rules and regulations strangling business, higher minimum wages, more power to unions, more entitlements, higher taxes, more printing of money by the Fed, and trade tariffs. This is the Obama blueprint squared. [more...]

Obamageddon: Signs That Obama's Great Depression Has Begun

By Wayne Allyn Root

If you’ve been paying attention to the news, several ominous signs have appeared that foretell economic disaster. After reading these “tells” or signs, I believe you’ll agree we are entering “Obamageddon” - Obama’s Great Depression. The first sign is the fact Bill Gross, head of the world’s largest bond fund (PIMCO), has just sold all his domestic government bond holdings - every single dollar! Do you have any idea what that means? In my opinion, Bill Gross is one of the ten smartest men on this planet. He knows everything about the economy and bonds. His sell-off indicates he believes local, state and our federal government are all on the verge of disaster - insolvency, bankruptcy, and default on bond obligations. To add insult to injury, Gross disclosed he bought emerging market bonds with the money from the sale of U.S. bonds. That means Gross has more faith in Brazil, Russia and African nations than the U.S.A. The Great Gross sell-off is a sign of economic Armageddon. [more...]

The Progressive Model of Tax & Spend is Dead - Even in New York

By Wayne Allyn Root

It's amazing to me that there are still a few people in America pushing the dinosaur called “the progressive agenda.” How can anyone demand bigger government, more services, higher spending, and higher taxes in the middle of a financial Armageddon? That’s not a progressive agenda; it’s a bankruptcy agenda. The proof is found in my old home state of New York, and my new adopted home state of Nevada. There is a dramatic and truly amazing lesson developing right now in New York. The newly elected Governor of New York is Democrat Andrew Cuomo, the son of one of the heroes of big government "tax and spend" liberalism - former New York Governor Mario Cuomo. Yet this new and improved Cuomo refuses to raise taxes one cent. He is demanding a "radical shift" in the way New York is run (headline quoted from the liberal New York Times). That "radical shift" is built around the idea of dramatic cuts in services, smaller government, far fewer government employees and agencies, and reigning in public employee unions. [more...]

Porter Stansberry: Is This the End of America?

Is This the End of America?

Why a single event in the next 12 months will radically change everything about our normal way of life... how we shop, travel, educate our kids, invest, save, and even retire.

By Porter Stansberry

A little more than a decade ago, I founded a financial firm called Stansberry & Associates Invest­ment Research. Today we serve hundreds of thousands of customers, in more than 120 countries.

Over the past few years, we were able to warn investors about the inevitable collapse of companies such as Fannie Mae, Freddie Mac, Bear Stearns, Lehman Brothers, General Motors and dozens of others.

To my knowledge, no other research firm in the world can match our record of correctly predicting the catastrophe that has occurred since 2008. I reference our success and experience with Wall Street's latest crisis because we believe there is an even bigger crisis lurking - something that will shake the very foundation of America.

And the incredible thing is... this has absolutely nothing to do with the stock market. [more...]

America's Most Important Day in 50 Years

In short, I want to detail for you a specific event that will likely take place in America's very near future... which could actually bring our country and our way of life to a grinding halt.

This looming crisis is related to the financial crisis of 2008... but it is infinitely more dangerous.

And as this problem comes to a head, I expect there to be riots in the streets... arrests on an unprec­edented scale... and military-enforced martial law.

Believe me, I don't make this prediction lightly and I have no interest in trying to scare you.

I'm simply following my research to its logical conclusion.

I did the same when I tracked Fannie and Freddie's accounting. The same with General Motors, with Bear Stearns and the rest. When I began giving this warning in 2006 no one took me very seriously. Back then, most mainstream commentators just ignored me. And when I presented my case and exposed the facts at economic conferences, they got angry. They couldn't refute my research... but they weren't ready to accept the enormity of its conclusions either.

The same financial problems I've been tracking from bank to bank, from company to company for the last five years, have now found their way into the U.S. Treasury. I want to explain to you how this came to be. What it means is critically important to you and every American... Because the next phase in this crisis will threaten our very way of life.

The savings of millions will be wiped out. This disaster will change your business and your work. It will dramatically affect your financial accounts, investments, and retirement. It will change everything about your normal way of life: Where you vacation... where you send you kids or grandkids to school... how and where you shop... the way you protect your family and home.

A WORD OF WARNING: This presentation contains material that may be offensive to some audiences. Viewer discretion is advised. I promise you this presentation will be worth your time. And I know it will benefit you and your family. That's why more than 2 million people have viewed it already. Go now to watch it at: www.EndOfAmerica22.com

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Fraud: Why the Tax Cut Bill is Just an Excuse to Spend Another Trillion Dollars!

By Wayne Allyn Root

Didn’t we just have a historic Tea Party election? Wasn’t the message STOP THE SPENDING, PAY OFF THE DEBT, and STOP THE INSANITY? The message was loud and clear, yet the first major bill after the election adds about one trillion more in debt as we face economic Armageddon - a rapidly approaching debt crisis (that will make Greece look like child’s play), 20% real unemployment, and eventually hyper-inflation that could turn America into Zimbabwe. This is insanity, folks. But hey, what is another trillion in debt among friends? As a small business owner, entrepreneur, and capitalist evangelist, no one has been a bigger cheerleader for lower taxes than I have. Tax cuts leave more money in the hands of those who earned it and deserve it - small business and taxpayers. Their investing and spending of that extra money is what fuels the economic engine that creates jobs to get America out of this mess. [more...]

The Deficit Reduction Trap

By Dick Bishirjian

This is a warning to those in Congress who want to raise taxes, not cut spending. In 1984, Cong. Newt Gingrich called Sen. Bob Dole, a “tax collector for the welfare state.” That phrase resonated with the Republican faithful and ultimately led to GOP control of the House of Representatives. The “Contract for America” was the culmination of years of labor by supply-side advocates who argued that dropping tax rates would lead to economic growth. The supply-side movement had its day and now the U.S. faces budget deficits - and Obama Administration’s regulatory policies - that threaten to destabilize the American economy, reduce employment and increase inflation to levels that led to the collapse of the Weimar Republic and launched Adolph Hitler’s murderous career. [more…]