Best comment from the post –

Is our government functioning properly?

Absolutely not! We may have just made the same (similar) mistakes that were made in 1937. I think all of Washington has folded on their responsibilities.

The attached essay explains better than I could the nature of the tax increase about to hit almost all of us in a few months.

James Pilant

| Aug. 2, 2011, 12:33 PM | Image: ChuckHolton via Flikr Bruce Krasting URL Bruce Krasting is a former hedge fund manager There is one aspect of the final debt deal from DC that took me by surprise. I was convinced the 2% reduction in payroll taxes would be extended through 2012. On July 12th I wrote about this and  got it completely wrong. Not only did I think there would be a one year extension of the existing holiday; I forecast that the subsid … Read More

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