This new political campaign against corporate inversion, therefore, is really an assault on a remaining freedom through which private citizens attempt to retain more of the wealth and income they have produced and earned in the market. It is a campaign to keep the American people captive behind a fiscal Berlin Wall over which there is to be no escape.
If the purpose of government is to spread the wealth and attempt to distribute the good life to everyone equally, then Lois Lerner was doing what she had to do. By that standard, she was even a hero.
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.
If taxes only concealed hidden costs of what we buy, we’d be lucky, but taxes are destructive in another hidden way.