Contrary to what President Obama said in his inaugural address, going on Medicare and food stamps does not strengthen us. Just ask people who are fourth-generation welfare recipients.

Today's political leaders demonstrate their low opinion of the public with every social law they pass. They believe that, if given the right to chose, the citizenry will probably make the wrong choice. Legislators do not think any more in terms of persuading people; they feel the need to force their agenda on the public at the point of a bayonet and the barrel of a gun, in the name of the IRS, the SEC, the FDA, the DEA, the EPA, or a multitude of other ABCs of government authority.

Bill Gates and Warren Buffett have their 'Giving Pledge,' where billionaires promise to give away the majority of their wealth when they die. My Social Security Pledge is better - to give money to good causes when you are alive. Besides, more Americans can participate.

The reality is that business and investment spending are the true leading indicators of the economy and the stock market. If you want to know where the stock market is headed, forget about consumer spending and retail sales figures. Look to business spending, price inflation, interest rates, and productivity gains.

Even though I've reached retirement age, I still plan to work - writing my investment newsletter, speaking at conferences, publishing books, and producing conferences like FreedomFest.

Taxation is the price we pay for failing to build a civilized society. The higher the tax level, the greater the failure. A centrally planned totalitarian state represents a complete defeat for the civilized world, while a totally voluntary society represents its ultimate success.

Negative books can be bestsellers, but seldom classics.