Illinois Could Raise EV Registration Fee To $1,000, Hike Gas Tax

A bill at the Illinois legislature proposes to raise the annual registration fee for electric vehicles (EV) from US$17.50 to US$1,000 and to more than double the gas tax from 19 cents to 44 cents per gallon, under a plan to fund infrastructure advanced by Democrat State Senator Martin Sandoval.

According to the bill, introduced at the Illinois General Assembly, owners of fully electric vehicles “shall register the vehicle for a fee of $1,000 for a one-year registration period,” under the proposal that strikes out the current “In no event may the registration fee for electric vehicles exceed $18 per registration year.”

The bill also proposes to increase significantly the gas tax in the state, as well as the license fees.

EV charger

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Magic Money Tree Economics

By GE Christenson – Re-Blogged From Silver Phoenix

Our Current Financial Circumstances

  1. The U.S. is $22 trillion in debt and burdened with $100 – $200 trillion more in unfunded liabilities. Just to pay the interest the U.S. must borrow. Debt is rapidly rising and cannot be paid unless “they” default or hyper-inflate the dollar.
  2. Chairman Jerome Powell stated, “The U.S. federal government is on an unsustainable path.” Even the Fed admits what everyone should realize.
  3. Global debt is $250 trillion. Some countries have descended farther down the debt-paved road to economic hell than the U.S.
  4. Pensions are under-funded, student debt is a disaster, the main street economy is weak, real estate prices and sales are falling, retail sales are down, real wages have been stagnant since the 1970s, and no credible plan exists to fix debt, deficits or devaluations.
  5. The political and financial elite profit from wars, inflation, devaluation, strip-mining assets, and income inequality.
  6. It’s an ugly picture with no easy answers. But debt, deficits and QE levitated stock markets to all-time highs.

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How US Government Debt May Impact Social Security

By Peter Reagan -Re-Blogged From Newsmax

Fiscal year 2018 wasn’t a good one for U.S. government net-worth. While that may hardly be surprising, it’s possible we’re reaching a “tipping point.”

From an official report released by the U.S. Treasury, Sovereign Man pulled out a few key highlights:

  • In fiscal year 2018, the government’s total net loss was $1.16 TRILLION.
  • … they spent over $4.5 trillion.
  • … nearly HALF went to Social Security and Medicare.
  • … spent a record $523 billion just on interest payments on the national debt!

 

How US Government Debt May Impact Social Security
(Pixelrobot/Dreamstime)

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Memories…And A Warning

By Gary Savage – Re-Blogged From Gold Eagle

This week my second son Joey turns 30 and my granddaughter Addie turns 3- just a day apart. The reason I bring this up is that we took a few days and visited Disney World in Florida.

As I walked into Disney’s Main Street I was reminded of a simpler and happier time here in America that many today cannot remember. America was a place where budding entrepreneurs could hang out a shingle without much government interference and chase their dreams. Mom and pop stores could make a living and provide services that made life easier for everyone. With few regulations and few barriers to entry many could earn a living and make their lives better. This Main Street is a reminder of this. Low taxes, low interference, high growth and stable money. Life was good for most.

Those with great ideas were rewarded with great fortunes.

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‘Yellow Vest’ Protestors Crowd French Streets for 21st Straight Weekend

By ELAINE GANLEY / AP – Re-Blogged From Time.com

(PARIS) — Protesters from the yellow vest movement took to the streets of France on Saturday for a 21st straight weekend, with thousands marching across Paris and a group briefly invading the busy beltway around the capital.

Riot police rounded up the protesters on the beltway and fired a round of tear gas on the street above, apparently to stop others from entering a ramp onto the road.

At another of Saturday’s numerous protests around the country, police fired tear gas in Rouen, in Normandy, in a showdown with protesters after fires were set in garbage cans and elsewhere.

 

Protesters march along the Quai de Valmy in Paris on April 6, 2019, during a demonstration by the 'Yellow Vests' (gilets jaunes) movement on the 21st consecutive. France has been rocked by months of weekly Saturday protests by the yellow vests, which emerged over fuel taxes before snowballing into a broad revolt against the French President.

Protesters march along the Quai de Valmy in Paris on April 6, 2019, during a demonstration by the ‘Yellow Vests’ (gilets jaunes) movement on the 21st consecutive. France has been rocked by months of weekly Saturday protests by the yellow vests, which emerged over fuel taxes before snowballing into a broad revolt against the French President.
Anne-Christine Poujoulat—AFP/Getty Images

Yellow Vest Protesters Clash With Police in Paris

By Associated Press – Re-Blogged From CBS

French yellow vest protesters set life-threatening fires, smashed up luxury stores and clashed with police Saturday in the 18th straight weekend of demonstrations against President Emmanuel Macron. Large plumes of smoke rose above the rioting on Paris’ landmark Champs-Elysees Avenue, and a mother and her child were just barely saved from a building blaze.

French police tried to contain the demonstrators with limited success.

One perilous fire targeted a bank on the ground floor of a seven-story residential building. As firetrucks rushed over, a mother and her child were rescued as the fire threatened to engulf their floor, the city’s fire service told The Associated Press. Eleven people in the building, including two firefighters, sustained light injuries, as other residents were evacuated to safety.

US Budget Deficit And Interest

By David Haggith – Re-Blogged From Gold Eagle