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  • Keep Your Healthcare Plan? Probably Not!

    During the 2008 presidential campaign, candidate Barack Obama promised that, if elected, he would press for some form of nationalized healthcare. Time after time, he assured Americans: 'If you like your healthcare plan, you can keep it; if you like your doctor, you can keep your doctor.' Many in Congress promised the same thing as they crafted the sweeping healthcare legislation that ultimately passed in March.

    Yet on June 14 the Obama administration released an 83-page document which indicates that over half of all employer-provided health insurance plans will be effectively eliminated between now and 2014 because of the new healthcare law. For small businesses, it's even worse. The Obama administration's own estimates indicate that 66% or more of small businesses will abandon their healthcare insurance plans by the time ObamaCare kicks in on January 1, 2014.

    This week, we will look into the many new and onerous rules, regulations and restrictions in the latest 83-page report from the Obama administration. The bottom line: If you get your health insurance through your employer, or if you are (like me) the owner of a business that provides health insurance to its employees, you need to read what follows very carefully. We've all been lied to!

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  • Healthcare Reform Designed to Fail

    The Senate is set to vote on its version of health care reform, possibly as early as Christmas Eve. If they do, it will be the worst Christmas present ever for the American taxpayer. The last-minute negotiations to obtain enough votes to prevent a Republican filibuster have transformed the bill from an ill-conceived attempt to reform health care to a horribly complex piece of legislation laden with exemptions, special deals and downright payoffs for certain states.

    The current push to pass a health care reform bill - any bill - has exposed the seedy underbelly of American politics. However, this is nothing new. What bothers me most about these health care bills being jammed down our throats despite public opposition is that whatever is in the final bill, it is bound to fail. In fact, you might say it's been designed to fail.

    This week, I'm going to reprint two very good articles, one from Accuracy in Media (AIM) and one from Dick Morris that discuss the major problems with the current healthcare bill before the Senate. Note that these articles were written prior to the late-night negotiations (or, more accurately, bribes) that occurred this past weekend, but they still paint an accurate picture of the health care debate.

    Since this is the last E-Letter before Christmas, I also want to take this opportunity to thank all of my loyal readers and clients and wish you a very Merry Christmas or Happy Hanukkah.

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  • Stratfor: Odds of War with Iran Spiking

    In just the last few weeks, we have learned several disturbing new things about Iran's nuclear capabilities. First, we discovered that Iran has a large secret uranium enrichment facility inside a mountain south of Tehran that we didn't previously know about. Second, shortly thereafter, the International Atomic Energy Agency (IAEA), the U.N. nuclear oversight group, said that Iran is much more advanced in its nuclear program than the IAEA had thought previously. According to the report, Iran now has all the data needed to design a nuclear weapon.

    Third, was a revelation in the first days of October by the Times of London which reported that Israeli Prime Minister Benjamin Netanyahu traveled to Moscow on September 7 to charge that Russian scientists and engineers are working directly with Iran on its nuclear weapons program. This intelligence suggests that Iran may be much further along in developing nuclear weapons than the international community previously believed.

    To give us insights on these latest revelations about Iran and its nuclear ambitions, we turn to our good friends at Stratfor.com this week. Please read what follows very carefully.

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  • Support Wanes For Obama's Huge Stimulus Plan

    The Senate finally passed its version of President Obama's near $1 trillion economic "stimulus" package. But as Americans saw that this so-called stimulus package is loaded with pork-barrel spending and does not include nearly enough in tax cuts and direct incentives, public support for it plummeted. The Republicans' alternative plans that proposed more in tax cuts were ignored (of course). I have numerous problems with the giant stimulus program, especially regarding the "protectionism" elements as you will see. Finally, earlier today Treasury Secretary Geithner announced a new plan to spend $2-$3 trillion to bail out banks, buy troubled assets, unfreeze the credit markets, etc., etc. I will have more to say about this as the details become available....
  • Obama's Tax Policy: None Dare Call It Welfare

    We have recently learned the details of President-elect Obama's massive income tax overhaul, and the plan is much worse than we had anticipated. Obama's liberal tax plan would give annual tax rebates to millions of Americans who already pay NO income taxes whatsoever. Giving government tax rebate checks to those who already pay zero income taxes is nothing short of expanding the welfare state (or socialism as I prefer to call it). Worst of all, if Obama gets his massive tax plan approved, it will mean that a majority of Americans will pay little or no income taxes, while the so-called "wealthy" will foot the rest of the bill. If we reach such a point, there will be little to no chance of true tax reform for the foreseeable future. Read what follows very carefully....
  • Economic & Investment Outlook For 2009

    As we kick off the New Year, let's review the latest dismal economic and financial data and the consensus views of what lies ahead in 2009 for the economy, the credit crisis and the markets. As you might expect, most of my trusted sources believe that the recession will be with us for a while, but there is hope that the economy will begin to bottom out sometime late this year - aided by more huge government bailouts that President-elect Obama has in store for us....