Because of short term residency requirements, South Dakota was once known as the divorce capital of the world. Now, because of South Dakota laws governing certain trusts, the state has become a haven for wealthy individuals and families to protect their assets. While CNBC takes a look at the negative aspects when family disputes arise, South Dakota continues to attract people from around the world looking for ways to protect their wealth. Along with their comprehensive trust laws, South Dakota has no inheritance or capital gains or income taxes. Just don't tell anyone. Read the CNBC story here.
This interview should not be missed. Brian Wesbury, Chief Economist at First Trust, sits down with Hillsdale President Larry Arnn and provides clarity to the self-inflicted damage being done to our economy and collective psyche. As he always proves capable of doing, Wesbury also highlights the positive outcomes that we could see as we move back to a functioning society. Watch this interview here.
The case for an expanding private sector over government growth should be Economics 101. Unfortunately, this needs continuous reinforcement. Brian Wesbury, Chief Economist at First Trust, make the case (again) here.
