Archive for the ‘Uncategorized’ Category
Suggested Readings
22
Mar
The Law, Bastiat, http://bastiat.org/en/the_law.html
Economics in One Lesson, Hazlitt, https://fee.org/media/14946/economicsinonelesson.pdf
What Has Government Done to Our Money, Rothbard,
The Progressive Era, Rothbard, https://mises.org/library/progressive-era-0
As We Go Marching, Flynn, https://mises.org/library/we-go-marching
America’s Emerging Fascist Economy, Twight,
From Mutual Aid to the Welfare State,
Tax Free 2000, Sabrin,
Why the Federal Reserve Sucks, Sabrin,
Bloomberg pissed away more than a half-a-billion dollars; Steyer pissed away more than $200 million; Could have used the money to provide medical care for all Medicaid recipients
05
Mar
Michael Bloomberg, former New York City mayor and one of the richest individuals on the planet, spent more than $500 million just in advertising to win the Democratic nomination for president only to drop out of the race a couple days ago. When the final accounting is done he may have spent more than $700 million, which would’ve included the salaries for an army of campaign workers around the country.
The greatest colossal failure in American politics need not have had to happen. Bloomberg, one of the country’s great philanthropists, could have used the hundreds of millions of dollars that were spent on advertising and salaries with the more than $200 million fellow billionaire Tom Steyer spent, and together both billionaires literally could have funded 10,000 nonprofit health centers, which could replace Medicaid and save American taxpayers $600 billion per year… forever.
As of November 2019 more than 71 million Americans were enrolled in Medicaid and CHIP. If one nonprofit health center could provide free medical care for 7,100 individuals, then 10,000 centers would need to be created throughout the country. If the cost to equip one of the centers with medical equipment, furniture, computers and other hardware would cost $100,000 per center, the total cost for the 10,000 centers would be $1 billion. (Foundation grants and other contributions could reduce this amount substantially.) Hospitals, big-box stores, churches, synagogues and other religious institutions could provide the space needed for a nonprofit health center in their communities.
Read the rest of this entry »Trump Is Trying to Ride the Pentagon Gravy Train to Reelection
02
Mar
Donald Trump likes to posture as a tough guy and part of that tough guy persona involves bragging about how much he’s spent on the US military.
Source: Trump Is Trying to Ride the Pentagon Gravy Train to Reelection
Fed-Driven Asset Price Inflation Means You Can Now Buy Less House Than You Could Before | Mises Wire
27
Feb
New Jersey’s income tax
24
Feb
I sent the following letter to The Record in response to the front page story.
Regarding “Millionaires tax in NJ still sparks questions” (February 24, page 1A).
I moved into New Jersey just after the state income tax became law in 1976. The people were told that a modest virtually flat rate income tax would finally solve the property tax issue. Not surprisingly, for more than four decades income tax rates have become more “progressive,” meaning that the highest rates have increasing faster than the lowest rates.
However, property taxes have continued to rise for more than four decades because local spending, primarily on schools and law enforcement, also have increased at unsustainable rates, despite the 2% cap on local property tax increases of the past few years.
In short, state government spending has been increasing faster than people’s incomes, and to pay for the increasing burden on the people of New Jersey Trenton politicians have focused their “takings” on the most successful individuals and families in our state.
The solution to the unconscionable tax burden on the people of New Jersey – and the continuing exodus of middle and high-income earners – is nothing short of a “cultural revolution.” This is the theme of Frank Chodorov’s classic critique of the income tax in 1954, The Income Tax: The Root of All Evil.
The truth of the matter is taxing Peter to pay Paul reflects the redistributionist philosophy of the political class, and unfortunately the public’s embrace (even Republicans are jumping on the high-tax train) reveals the successful propaganda of the left-wing agenda of the past century.