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To: richardred who wrote (1597)	3/26/2013 1:30:42 PM
From: Glenn Petersen	2 Recommendations Read Replies (2) \| Respond to of 3363

"The power to tax involves the power to destroy;...the power to destroy may defeat and render useless the power to create...." -- Chief Justice John Marshall, 1819. Our tax code should be supportive of industry, not punitive of success. Taxes tacked on to broader legislation (that is not specific to the tax code) and generally punitive.

To: richardred who wrote (1597)	4/2/2013 11:19:54 AM
From: FJB	Respond to of 3363

Chart Of The Day: Euro Area Unemployment Hits New Record High Submitted by Tyler Durden on 04/02/2013 08:07 -0400 Greece New Normal SocGen Unemployment It appears like the New Normal is merely a phrase used to describe daily records in virtually everything: the Dow Jones, the S&P, US foodstamps, sovereign bailouts, US total debt, and, today,Euro Area unemployment, which just rose to a fresh all time high 12%. From Bloomberg brief: "Euro-area unemployment rose to a record 12 percent in February and January’s figure was revised up to the same level from 11.9 percent estimated earlier, the European Union’s statistics office said. Jobless rates in January ranged between 4.9 percent in Austria and 27 percent in Greece. While rates in the euro area have risen by 1.1 percent point in the past year, unemployment has fallen by 0.6 percentage point to 7.7 percent during the same period in the U.S." Or said otherwise, European unemployment has now been rising constantly for 22 consecutive months - the longest period for deteriorating unemployment since the early 1990s, which, however, is to be expected for a continent which as we showed yesterday, has now reverted to 19th century growth rates. The charts below are self-explanatory. Source: Bloomberg Brief and SocGen