* Impac Mortgage Holdings, Inc. Announces Year End 2007 Results (Wallace Witkowski, Fox News)
Close your eyes and imagine it’s 1975. Inflation is high, jobs are scarce and the government decides the best way to stimulate the economy is to raise taxes. Nowadays, that approach doesn’t seem to make much sense, but smart people once believed that the best way to help the common man was to tax him as much as possible, then turn around and dole out entitlements to keep folks afloat.