If you put $1,000 in your piggy bank in 1960 and took it out to spend in 2000, you would discover that your money had, over time, lost 80 percent of its value.
“What the tax code is doing is trying to choose our values for us,” complains Yaron Brook from the Ayn Rand Institute.
If cutting and taxing are off the table, we can expect borrowing and printing.
It’s those who want to keep raising the debt limit, continuing to evade the causes of the fiscal disaster, who are irresponsible.
If federal spending were only 5 percent of our GDP ($750 billion) — instead of 25 percent ($3.8 trillion) — there would be no need for today’s oppressive and complicated tax system.
The federal government already has ample powers to punish people who have broken the tax laws. It does not need additional powers to bully people who haven’t.
Apple, the most highly valued technology company and the creator of wonderful products that millions enjoy and use to enhance their productivity, has been accused of not paying enough taxes at a congressional hearing where CEO Tim Cook was grilled yesterday. (See the story here). More specifically, Apple was accused of avoiding $9 billion or […]
If taxes only concealed hidden costs of what we buy, we’d be lucky, but taxes are destructive in another hidden way.
How are capital gains different from ordinary income?
Instead of taxing the 1% more, we should thank them.
Despite the breathless post-election “think pieces” that have drawn sweeping and deeply considered conclusions about the political drift of the country, at its core President Obama’s re-election is easy to understand. He essentially promised millions of middle and working class voters that if he were to be re-elected, they would receive benefits paid for by […]
According to the Congressional Budget Office’s figures, extending the Bush tax rates will only increase the deficit by 4 percent. Actually, critics of the way the CBO figures this out are saying the 4 percent number is too high. They charge that the CBO does not take into account any fiscal benefits from tax cuts. […]
The subheading would read: Globalist Senators in Hot Pursuit. One look at the arrogant, sneering expression on the face of Senator Charles Schumer (Democrat, New York) and one glance at what he had to say about Facebook co-founder Eduardo Saverin’s renunciation of his U.S. citizenship in favor of living in Singapore, and I felt an […]
Unlike Stephen King, who seems to admit he’s a socialist, most Obama supporters will not admit to their socialism.
In a capitalist society, the initiation of force is banned from the interactions between individuals. In a capitalist society, there is no regulation of businesses–no FTC, FDA, SEC, OSHA, or EPA. In a capitalist society, all funding for government is provided voluntarily–no IRS. You may think, “If funding for government is voluntary, what if nobody […]
With economic “fairness” the central theme of his re-election campaign, President Obama recently pitched his “Buffett Rule” tax hike to a student audience at Florida Atlantic University in Boca Raton. Aimed at those who earn the bulk of their income from capital gains, the plan would double the tax rate on capital gains from 15 […]
If shareholders in communist China are allowed to keep more of their earnings than shareholders in capitalist America, which nation is more communist and which more capitalist?
“If you make more than $1 million a year, you should not pay less than 30 percent in taxes,” asserted President Obama in his State of the Union speech. For those with predominantly investment income, that would effectively double their capital gains tax rate from the current 15 percent rate, producing a triple negative impact […]
There is a great threat to medical care in America from a small group of our fellow citizens. They are not the top one percent of the wealthy, but a group of elitists and their allies who see government power as the means to determine what every American is allowed to earn and keep. Control […]
A flat income tax — say, 15 percent for all Americans — is a brilliant idea. Right? No way. The flat tax proposal, in the economy as we know it, evades two very, very important facts. No proposal which evades relevant facts can — or should — win. First of all, according to all the […]