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Archive for the ‘Spending’ Category

What Donald Trump should have said last night

22 Jul

Donald Trump’s acceptance speech at the Republican convention last night could have been a lot shorter and focused on espousing the virtues of limited government and free enterprise.

First, Donald should have used several props, such as the first 1040 form, which was only four pages long. He should have said that a tax return of 1914 was simple and allowed the federal government to raise the funds it needed to pay for its expenses 100 years ago, when only 2% of the American people had to pay any income tax. In addition, today large and medium-sized businesses need an army of accountants and attorneys to comply with the tax code. That’s money that cannot be used to buy better equipment, modernize their factories, and thus make American workers more productive, which would earn them higher salaries.

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Help the Poor by Abolishing the Income Tax – The Future of Freedom Foundation

21 Jul

The income tax must be abolished to create sustainable prosperity.  

“The standard leftist position on helping the poor is: Increase income taxes on the rich and give the money to the poor in the form of welfare. The idea is that it’s just not fair that someone has more money when someone has less money. By equalizing people’s financial conditions, through the force of a progressive income tax and a welfare state, the financial plight of the poor will be improved. The left, however, is wrong. As our American ancestors, Continue Reading…”

Source: Help the Poor by Abolishing the Income Tax – The Future of Freedom Foundation

 
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Posted in Crony capitalism, Economy, Employment, Federal Government, Free markets, Income taxes, Politicians, Politics, Poverty, Spending, Taxes, Welfare state

 

AARP is half right…cut taxes not only for retirees but for all working people

10 Jun

A full page newspaper sponsored by AARP makes one of the best cases that the New Jersey income tax should be reduced for retirees with the assertion, ” [the bill] would cut state income taxes on income for those who need it most, allowing residents to save more of their hard-earned money.”  Why not reduce taxes (massively) for all residents so they can save, spend, make charitable contributions?  In other words, people should be financial independent, and the only way that could happen is for state governments and the federal government to go on a draconian diet.

 

 

 
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Posted in Federal Government, Income taxes, New Jersey, Spending, Taxes

 

The Swiss get it right

05 Jun

They overwhelmingly reject a basic income plan.

Government cannot give money to someone without first taking it away from individuals who earned it in the first place.  That is called theft.  Legalized theft is the at the center of all government all activities.  Until we have a national and global discussion about the proper role of government, massive transfers of income, a polite way of saying unlimited coercion, will be the essence of the nation state.

 
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Posted in Spending, Taxes, Welfare state

 

The GOP should fold up its “big tent” and just go away

02 Jan

The deal to avert the so-called fiscal cliff passed the U.S. Senate with only eight no votes.  The House passed the bill on New Year’s Day in another (smaller) “bipartisan” vote, 257 to 167.  In other words, the GOP, the party of supposedly fiscal conservatism, caved in on higher taxes for not only upper income Americans but also allowed the temporary Social Security tax cut to expire for all wage earners.  Moreover, the estate tax rate increases above $5 million.

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Posted in Federal Government, Federal Reserve, Income taxes, Spending, Taxes, Warfare state, Welfare state

 

The Sabrin Rule to fix the fiscal cliff…let’s really soak the rich

26 Nov

In essays on consecutive days in the New York Times, Steven Rattner and Warren Buffett call for higher taxes on upper income Americans to close the federal budget gap.  Rattner calls for raising the top tax rate on capital gains to 28 percent, the same rate during Bill Clinton’s first term.  He asserts that “capitalists” would not be adversely affected by the rise in tax rates.  He also would eliminate the “carried interest” tax preference (15% rate), the “indefensibly low tax rate” that is paid by some private equity and hedge fund investors.   In addition, Rattner would cap deductions on the wealthy taxpayers and increase taxes on dividends as well.

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Posted in Federal Government, Federal Reserve, Income taxes, Spending, Taxes, Uncategorized, Warfare state, Welfare state

 

More economic nonsense from a New York Times columnist

23 Nov

One of the worst essays ever to be published in the NYT. Several comments are spot on. Raising taxes is a failed experiment as is the 100 year welfare-warfare state.http://www.nytimes.com/2012/11/22/opinion/kristof-a-failed-experiment.html

 
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Posted in Federal Government, Spending, Taxes

 

How to end gridlock in DC. Guaranteed.

08 Nov

Now that President Obama has been overwhelmingly reelected, at least by the spread in the Electoral College, and GOP House Speaker John Boehner has made conciliatory statements about working with the administration to prevent the “fiscal cliff,” higher taxes and spending cuts that are scheduled to take effect on January 1, 2013.

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Posted in Federal Government, Spending, Taxes, Warfare state, Welfare state

 

Some of my opening prepared remarks: “Why the federal government creates Ponzi schemes”

13 Sep

Some observations before I begin:

There are no tax loopholes; there are deductions, exemptions and credits in the tax code.  A loophole is a political word.

Herbert Hoover was not a laissez faire president; federal spending increased, taxes increased, the Federal Reserve boosted the money supply, government got bigger and unemployment skyrocketed under HH. Dems have been successfully running against HH for the wrong reasons.   FDR was the fiscal conservative in the 1932 presidential campaign.  FDR expanded the HH’s expansion of federal government power.  Result:  depression lasted for more than a decade.

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Posted in Federal Government, Spending, Taxes, Welfare state

 

Clinton warns the Dems

06 Sep

Bill “the era of big government is over” Clinton is warning that bigger government is on the way.

 
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Posted in Federal Government, Spending, Taxes

 

Dr. Alieta Eck: The insights of Bastiat and its relevance to healthcare

04 Mar

Dr. Alieta Eck, president of the Association of American Physicians and Surgeons, argues that we need to embrace Frederic Bastiat’s insights why a free society demands a government of limited powers.  Under such an arrangement, the people will use their income and resources to address the issues the advocates of big government assert can only be solved by intervention in many sectors of the economy, especially healthcare.

 
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Posted in Federal Government, Healthcare, Spending, Taxes

 

Open letter to Paul Krugman

25 Feb

Dear Paul:

I enjoyed reading your Friday (Feb, 23) column, “Romney’s Economic Closet.”  You confirmed what many of we free market types have been asserting for months, namely that Mitt Romney is really one of your fellow travelers, a neo-Keynesian dressed up as an unrepentant free market guy.  In other words, it takes a Keynesian to know a fellow Keynesian.

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Posted in Federal Government, Federal Reserve, Presidential campaign, Spending, Taxes

 

Guest column: Medicaid Is Mismanaged Tax Dollars

26 Jan

Alieta Eck, MD, President, Association of American Physicians and Surgeons

The essence of Government is power; and power, lodged as it must be in human hands, will ever be liable to abuse. James Madison.

When government controls health care, bureaucrats war against bureaucrats, medical care becomes a commodity, and the taxpayers pay dearly.

The federal government audited  NJ Medicaid and determined that the state owes the federal government $145 million due to “mismanagement.” It claims that the state “improperly oversaw  Medicaid patient-care services,” the part of Medicaid services involved in the “cleaning, grooming, bathing and shopping for patients” over three years beginning in 2004.

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Posted in Federal Government, New Jersey, Spending, Taxes

 

Peter Drucker’s Vision: Abolish the Welfare State

19 Dec

Twenty years ago, on December 19, 1991, Peter Drucker’s essay, “It Profits Us to Strengthen Nonprofits,” was published in the Wall Street Journal.  Although Drucker’s opinion piece was written a generation ago, his advice is more applicable today than when the first President Bush was in the White House.

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Posted in Federal Government, Spending, Taxes, Welfare state

 

As Ron Paul surges, Romney’s noose is tightening in New Hampshire

19 Nov

Ron Paul has two paths to the GOP nomination. The first path is that he wins early . For this to happen and for Ron Paul to win the Republican presidential nomination, he must win Iowa and win or place a strong second in New Hampshire. Even a second place finish in New Hampshire, especially if Ron Paul comes in a close second slightly behind putative front-runner Mitt Romney in his backyard, would be a huge victory for the Paul campaign, because the Texas congressman could rightfully proclaim that he is now the front-runner.

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Posted in Federal Government, Federal Reserve, Presidential campaign, Spending, Taxes