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PLANNED COLLAPSE: 75% of President’s Proposed Tax Hikes to Go Toward New Spending

Seventy-five percent of the new revenue pulled in by President Barack Obama's "fiscal cliff" plan would go toward new spending, not toward deficit reduction, the Republican side of the Senate Budget Committee contends. Here's a chart, detailing how money from the new tax hikes would be distributed:   According to the minority side of the Senate Budget Committee, $1.2 trillion of the proposed $1.6 trill ...

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OVER THE CLIFF: Over One Million Americans Added to Poverty In Last Two Months

They’ll tout the latest unemployment numbers as evidence for the strength of America’s recovery, but despite their best efforts to fudge the numbers, the unreported reality is that we are so far gone it’s scary. The decent into economic oblivion continues at a seeming unstoppable pace. Rather than bloviating about the supposed jobs created in the last month being a clear sign of economic recovery, perhaps a ...

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Pentagon to Launch ‘Secret’ Space Plane on Third Mission [W/ VIDEO]

THE DETAILS   WHAT: Launch of Air Force’s X-37B spacecraft   WHEN: Launch window opens at 1:03 p.m. Tuesday and extends five hours.   WHERE: Launch Complex 41 at Cape Canaveral Air Force Station   WEATHER: 40 percent chance weather will be acceptable for launch.   LAUNCH VEHICLE: Atlas V rocket   THE STORY:   CAPE CANAVERAL -- An Atlas V rocket is poised for launch on its ...

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Bitcoin to Operate as a “Bank” of Sorts in France While Helping Iranians Avoid US Sanctions

For those of you who are unfamiliar with Bitcoin, it is a totally new form of decentralized, private, tax-free currency that is traded on the internet, and in the past few weeks there has been a lot of exciting news in the Bitcoin community. Like many i was skeptical of Bitcoin at first because traditionally our culture is so accustomed to physical currency, even if it isn’t worth anything like our current ...

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The Federal Reserve System, a Christmas Gift that Keeps on Taking

Ninety nine years ago this month, the law that brought the Federal Reserve System into existence was passed. It did so at the behest of some very wealthy and very greedy men who wanted nothing less than total control of as much of the world's total wealth that they could possibly get their hands on. These men with names like Aldrich, Rockefeller, Rothschild, Vanderlip, Kuhn, Loeb, Warburg, Morgan, Schiff, e ...

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Microsoft Dodges ÂŁ159 Milion UK Taxes Every Year

  Microsoft pays no tax on ÂŁ1.7billion of online sales in the UK thanks to a legal loophole, it has been reported. The technology monolith is funnelling cash generated by online sales of Windows 8 software to Luxembourg to sidestep tax obligations, according to The Sunday Times. If the allegations are true the company will join a growing number of foreign companies coming under scrutiny for avoiding UK ...

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Japanese Jeweler Unveils $4.2M Christmas Tree in Tokyo

KAZUHIRO NOGI/AFP/Getty Images An employee of Japan's jeweler Ginza Tanaka introduces the 350 million yen (4,270,000 USD) Disney Gold Christmas Tree which is 2.4 meters in height and features 50 Disney characters made of gold, in Tokyo on November 21, 2012. The Christmas tree will be displayed in the shop until 25 December. The pitch If you’re looking to have yourself a very merry Christmas, you’ll need the ...

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Google Revenues Sheltered in No-Tax Bermuda Soar to $10 Billion

Michael Turek Front Street in Hamilton, Bermuda. The increase in Google’s revenues routed to Bermuda, disclosed in a Nov. 21 filing by a subsidiary, could fuel the outrage over corporate tax dodging. Google Inc. (GOOG) avoided about $2 billion in worldwide income taxes in 2011 by shifting $9.8 billion in revenues into a Bermuda shell company, almost double the total from three years before, filings show. By ...

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California School District Owes $1 Billion On $100 Million Loan

More than 200 school districts across California are taking a second look at the high price of the debt they've taken on using risky financial arrangements. Collectively, the districts have borrowed billions in loans that defer payments for years — leaving many districts owing far more than they borrowed. In 2010, officials at the West Contra Costa School District, just east of San Francisco, were in a bind ...

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2,000 gather to get subsidized housing in OH, tempers flare, police mace crowd [W/ VIDEO]

COLUMBUS, Ohio - Columbus Police sprayed Mace on several people in a crowd that had gathered to sign up for a list to get subsidized housing at a northwest Columbus apartment complex. Police said the crowd started to gather Friday night for the Saturday morning event at The Heritage apartment complex on Gatewood Road near Sunbury Road in northeast Columbus. Authorities said that its highest number, the crow ...

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New Unemployment Numbers Are A Fraud?

  According to a report released yesterday by the Bureau of Labor Statistics (BLS), there were approximately 146,000 jobs added in the U.S. in November and the unemploymentrate dropped to 7.7 percent, which would be the lowest since 2008. The report is based on a survey of households and employers, and does not accurately depict the reality of the jobless rate in the U.S. today. The 7.7 percent rate is ...

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