John Williams: The Real Facts Behind Today’s Fictitious Drop in Unemployment
Also on the Big Picture: “New Study−Toppling Off The Fiscal Cliff” and “New Taxes on the Sale of Your Home−Facts versus Rumors”
In this segment, Jim starts it off speaking with John Williams of Shadow Government Statistics on the unemployment numbers released Friday. John explains why the numbers are highly questionable. Next, Jim looks at a new study just released by The Tax Policy Center, "Toppling Off The Fiscal Cliff−Whose Taxes Rise and How Much" that looks at the tax impact starting next year. The next Big Picture topic is "New taxes on the sale of your home−facts versus rumors." This refers to the Medicare surtax of 3.8% that adds on to the sales cost of real estate, given that you are in a higher income category. Jim also answers the rest of this week’s Q-Calls in this segment.