Free Republic

Just as AAPL stock hits record highs and single-handedly rescues Q4 earnings from the doldrums, it appears President Obama is bringing his own brand of 'middle-class-economics' Robin-Hood-iness to crush the 'wealth generating' machine that has served America's 1% so well for so long. As AP reports, The White House plans a six-year half a trillion dollar public works program financed with a one-time mandatory tax on profits that U.S. companies have amassed overseas. Under current law, profits only face federal taxes if they are returned, or repatriated, to the US; but Obama's new deal would set a tax on...

Not so long ago the federal deficit was projected to destroy the country, our children’s future and just about everything else. Budget battles shut down the entire government for a couple weeks. How times change. A count by our colleague Alice Crites illustrates how the issue gained media traction – - especially after the Bush/Obama stimulus packages to mitigate Bush’s Great Recession – and how much it’s faded from the front pages. So what happened? Simple answer, of course, is that the deficit is way down and, for now, no longer a big problem.