We start our issue today acknowledging events in the Middle East over the weekend; namely, militant Palestinian group Hamas, based in coastal Gaza, launched a multi-pronged attack on, at least, 13 cities in Israel. 

The death toll thus far: 700 Israelis and 400 Palestinians with 100 Israeli soldiers taken hostage. 

“Citizens of Israel, we are at war — not in an operation, not in rounds — at war,” Israeli Prime Minister Benjamin Netanyahu said Saturday. 

And, this morning, an article at The Wall Street Journal implicates Iran in the planning of the attack. 

Paradigm Press will keep you informed — likely with hot takes you won’t get from corporate media. 

In the meantime, a longtime reader comments on the strategic importance of the Arctic Circle, something we featured a little over a week ago. 

“Byron King is right,” he says. “The U.S. has severely neglected our Coast Guard icebreaker capabilities.

“But the WSJ article is wrong. We bend and shape hardened steel all the time. Over two inches thick. We call them nuclear submarine hulls! Plenty of that steel available for construction of a surface ship bow and keel armor for an icebreaker.

“And since it won’t be subjected to submergence pressures, they could use the scrap metal at Puget Sound Naval Shipyard. American-made. Not sourced from overseas. Environmentally sound reutilization of a scarce commodity. Readily available as is the necessary welding and bending technology.”

Many thanks to our reader for his well-reasoned opinion. 

Now to a topic that was a centerpiece of Joe Biden’s campaign: the so-called wealth tax. 

Send your opinions to, feedback@newsyoucanacton.com

Your Rundown for Monday, October 9, 2023...

The Top 5% Is the New 1%

Don’t say we didn’t warn you. 

Dave Gonigam, managing editor at our sister publication Paradigm Pressroom’s 5 Bullets, recently reported how Team Biden is expanding the definition of “wealthy.” (It’s a must-read issue.) 

“The IRS just said [we] consider the floor for ‘high income’ to be $200K, not $400K,” Dave noted… without one scintilla of surprise. 

Jumping on the IRS bandwagon, politicians — including AOC — are redefining what constitutes a wealthy New York household. 

“Bemoaning ‘violent budget cuts’ at New York City agencies, Rep. Alexandria Ocasio-Cortez and her ideological allies are calling on the city and state to ‘fund resources for all New Yorkers’ by raising taxes on the top 5% of New Yorkers," the Wall Street Journal says.

“Considering the left’s prior focus on ‘the 1%,’ this is a major development.” 

One-hundred percent.

Whereas the top 1% of earners in New York starts just shy of $1 million in annual adjusted gross income, the top 5% “begins a little above $250,000 — translating into married couples making $127,000 each.” 

The WSJ continues: “Gov. Kathy Hochul has thus far resisted this and other calls for economically destructive tax hikes, even as she grapples with looming budget shortfalls. 

“And while New Yorkers haven’t widely objected to past calls to ‘tax the rich,’ that may change now that so many have been invited into the category.”

Market Rundown for Monday, Oct. 9, 2023

The S&P 500 is down 0.40% to 4,290. 

Oil is up 3.60% to $85.81 for a barrel of WTI. 

Citing Kitco, gold is up $11.70 per ounce to $1,844.80. 

And Bitcoin is down 1.5% to $27,460. 

Send your comments and questions to, feedback@newsyoucanacton.com