The stealth wealth tax may be the single-largest tax ever imposed on the American people, yet virtually no one knows about it. What is particularly unconscionable about this tax is that it has been imposed upon the most responsible citizens and the elderly in a most disproportionate way, and the real tax rate on American savers has soared to record levels.

Inflation is a non-legislated wealth tax. If you had kept a $100 bill a year ago, today you would be able to buy just $96.20 worth of goods and services, given the current 3.8 percent inflation rate. The Fed, by its failure to preserve the value of the currency as it is charged to do, has imposed a stealth wealth tax on you.

The Internal Revenue Service (IRS) has made it worse by imposing a tax on nominal savings income, not just on inflation-adjusted income.

The 16th Amendment to the Constitution gave the federal government the right to impose a tax on "incomes." A change in the price level caused by inflation is not income by any economic or sensible definition of the word.

With the nations of Europe and the rest of the world lining up to support the PLO bid to receive non-member state status at the UN General Assembly, it is worth noting two anniversaries of related but forgotten events.

Of course, everyone in Israel knows the obvious anniversary today -- Nov. 29, 1947 was the day the UN General Assembly passed the plan to recommend the partition of the British Mandate of Palestine into a Jewish state and an Arab state. The Jews accepted the plan. The Arabs -- both local and regional - rejected it.

On November 28, 1941 the religious and political leader of the Palestinian Arabs and one of the most influential leaders of the Arab world, the "Grand Mufti," Haji Amin al Husseini met with Adolf Hitler in Berlin. Husseini had courted the Nazis since just after the Nazis rose to power in 1933. He was forced to flee the British Mandate in 1937 when he expanded his fourth terror war against the Jews, that he began in 1936 to include the British as well.

In 1920 Husseini personally invented what later became known as the Palestinian national movement. He shaped its identity around the sole cause of destroying the Jewish presence in the land of Israel.  (Note: The story of how Husseini came to be Grand Mufti is told by Jack Wheeler in The English Godfather of Palestinian Terrorism, December 2003.)

During World War II, Husseini used his radio broadcasts to shape the political and religious  consciousness of the Moslem world by fusing Islamic Jew hatred with annihilationist Nazi anti-Semitism. Whereas much of the Nazi anti-Semitic ideology was discredited in postwar Europe, it has remained the single most resonant theme of Arab politics  for 66 years.

Here's a quartet of choices for who should be the HFR Hero of the Week. 

When the week started out, the choice seemed obvious:  an extraordinary athlete with the initials of TT.  Not Tim Tebow, however admirable he is.  It's the greatest hockey goalie on earth, who enabled the Boston Bruins to win the 2011 Stanley Cup (he was named MVP), Tim Thomas.

Then on Wednesday (1/25), two Republican governors came into Hero contention.  First is Arizona's with a name all tipplers admire, Jan Drinkwine Brewer (yes, Drinkwine is her maiden name and she married a fellow named Brewer:  how can you beat that?).  You've all seen the picture of her telling off Zero on the Phoenix tarmac regarding his attack on Arizona's attempts to protect its border from illegal invasion.

The night before his tarmac scolding (1/24), Zero delivered his pathetic SOTU speech to a bored Congress.  The GOP response was delivered by Indiana Governor Mitch Daniels.  This is worth reading entire.

So who could give TT and these two governors competition this week?  We don't know their names and never will, just that they are Navy SEALs.

The Obama administration and others on the left seemed to be stunned when the Bureau of Labor Statistics reported no new net jobs last month (8/11). When President Obama makes his "jobs speech," the American people will see whether he and his advisers have learned anything from the three years of Obamanomics failures.

If they have not, his speech will drone on and on, putting his listeners and the economy to sleep.  If they have, then his speech could electrify his listeners and the economy.  Such a speech need not be long.  Here is what he could say Thursday night in 30 seconds or less: