Category Archives: Taxes

Today France, Tomorrow the USA? by Patrick J. Buchanan

Welfare-state governments are reaching the point where they can’t squeeze any more out of their economies and taxpayers but cutting spending is politically difficult to impossible. From Patrick J. Buchanan at buchanan.org:

As that rail and subway strike continued to paralyze travel in Paris and across France into the third week, President Emmanuel Macron made a Christmas appeal to his dissatisfied countrymen:

“Strike action is justifiable and protected by the constitution, but I think there are moments in a nation’s life when it is good to observe a truce out of respect for families and family life.”

Macron’s appeal has gone largely unheeded.

“The public be damned!” seems to be the attitude of many of the workers who are tying up transit to protest Macron’s plan to reform a pension system that consumes 14% of GDP.

Macron wants to raise to 64 the age of eligibility for full retirement benefits. Not terribly high. And to set an example, he is surrendering his lifetime pension that is to begin when he becomes an ex-president.

Yet, it is worth looking more closely at France because she appears to be at a place where the rest of Europe and America are headed.

Continue reading

As the Fiscal Doomsday Machine Powers On – Impeach the Congress, Too! by David Stockman

If bringing one’s country to fiscal ruin were an impeachable offense, you’d have to impeach the entire city of Washington. From David Stockman at lewrockwell.com:

On December 16 the gross Federal debt breached a new level to $23.1 trillion, while the net debt after $401 billion of cash weighed in at $22.71 trillion. The latter monstrous figure is notable because on June 30, 2019 it stood at $21.76 trillion.

So what has happened in the last 167 days is a $948 billion increase in the Uncle Sam’s net debt, which amounts to a gain of $5.7 billionper day – including, as we like to say, weekends, holidays and snow days.

Worse still, not a single dollar of that gain got absorbed in government trust funds. The Treasury float held by the public actually rose by $953 billion.

So why in the world do the knuckleheads on bubblevision not understand where the spiking rates and ructions in the repo market came from?

The law of supply and demand is still operative, and the US Treasury is literally flooding the bond pits with new supply. Even at the bottom of the Great Recession, Uncle Sam did not drain $5.7 billion per day from the bond market.

But nary a soul down in the Imperial City has noticed this borrowing eruption at the tippy-top of the business cycle, which now teeters on borrowed time at a record 127 months of age. Instead, this very day the Congress is busily engaged in what is a fair approximation of abolishing the election process at the heart of American democracy.

Continue reading

It only costs about 20 grand to get away with murder, by Simon Black

Simon Black’s weekly collation of government-related absurdities, from sovereignman.com:

Are you ready for this week’s absurdity? Here’s our Friday roll-up of the most ridiculous stories from around the world that are threats to your liberty, your finances, and your prosperity.

Kentucky Governor Pardons Murderer after family’s fundraiser

Kentucky Governor Matt Bevin lost reelection in November.

But the governor still had some campaign debt to retire. And it’s not easy to convince people to donate to a campaign that already lost.

Still, one family managed to raise over $20,000 for the governor at a fundraiser they held for him after he lost the election, but before he left office.

Why would they do this? Perhaps it is related to the fact that a few weeks later, Governor Bevin pardoned the fundraiser’s brother– a convicted murderer.

The brother was serving a 19 year sentence for dressing as a cop, invading a man’s home, and shooting him to death.

Believe it or not, that wasn’t the only questionable– to say the least– pardon of the 428 issued by the governor since he lost reelection.

Continue reading

Californians Flock To Texas As Corporations Seek Cheaper Pastures, by Tyler Durden

For many businesses in California, moving to Texas has become a no-brainer. From Tyler durden at zerohedge.com:

Around 700,000 people left California last year, with more than 10% moving to Texas.

According to a new report by Yardi Systems, over 86,000 people abandoned the Golden State. In terms new Texas residents overall, ex-Californians constituted around 15%, according to the Dallas Morning News.

The influx of Californians should come as no surprise, as businesses have been migrating out of the high-tax, high-crime, heavily regulated statefor cheaper pastures.

Chairman and founder Charles Schwab noted that one of the drivers behind the move from California was that “the costs of doing business here are so much higher than some other place.”

Continue reading→

Sin Taxes & Other Orwellian Methods of Compliance That Feed the Government’s Greed, by John Whitehead

We live in a kleptocratic, increasingly totalitarian state. From John Whitehead at rutherford.org:

“Of all tyrannies, a tyranny sincerely exercised for the good of its victim may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated, but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.”—C.S. Lewis

“Taxman,” the only song written by George Harrison to open one of the Beatles’ albums (it featured on the band’s 1966 Revolver album), is a snarling, biting, angry commentary on government greed and how little control “we the taxpayers” have over our lives and our money.

If you drive a car, I’ll tax the street,

If you try to sit, I’ll tax your seat.

If you get too cold I’ll tax the heat,

If you take a walk, I’ll tax your feet.

Don’t ask me what I want it for

If you don’t want to pay some more

‘Cause I’m the taxman, yeah, I’m the taxman.

When the Beatles finally started earning enough money from their music to place them in the top tax bracket, they found the British government only-too-eager to levy a supertax on them of more than 90%.

Here in America, things aren’t much better.

Continue reading

Revenue Collection and Something Else, by Eric Peters

Tickets use to be revenue collection devices. Now they’re part of a design to make driving as painful as possible. From Eric Peters at ericpetersautos.com:

It used to be that roadside mulctings were primarily, even exclusively, motivated by simple money-lust. Traffic enforcement as a kind of random tax-raising effort.

Many towns and even cities in the United States are extremely dependent on the “revenue” – as it is styled – which is generated by the fleecing of motorists. This is why there are so many “infractions” – and it is why many of them are deliberately contrived so as to assure almost every motorist will be “guilty” of at least one “violation” every time he drives.

Examples include absurdly under-posted speed limits that are often functionally impossible to comply with – unless you want to get run over. And pedantic requirements about exactly where one must stop at a stop sign – and how long one must stop. The touching of a yellow line, etc.

Continue reading→

How’s That Alternative Reality Working Out For You? by Robert Gore

Two plus two equals four. Epstein didn’t kill himself.

At the end of 1984, Slavery is Freedom, two plus two equals five, and Winston Smith loves Big Brother. The Party has destroyed Smith’s mind, he embraces whatever narratives it promulgates. The fictive Party has solved the conundrum that bedevils any individual or organization seeking to exercise power: coercion can exact physical compliance and the desired verbalizations, but how do you compel the subjugated to think and believe as you want them to think and believe?

Our Party, the confederation of powerful people who promulgate the narratives that always point the same direction—more government and power for the powerful, less freedom for the subjugated—has yet to reach the mind control of Orwell’s Party, but not for want of desire or effort. We know the Party’s narratives: globalism, climate change, surveillance, incarceration, political correctness, open borders, free migration, fiat debt, central economic planning, socialized education and medical care, and wars on terrorism, drugs, poverty, any regime that refuses to toe the Party line, hydrocarbons, private firearms, individual rights, privacy, precious metals and cash, and socialized education and medical care. We know the Party’s institutions: governments, central banks and their central banks, intelligence agencies, military forces, police, permanent bureaucracies, multinational corporations, multilateral economic, political, and financial institutions, foundations, universities, nonprofits, and NGOs. We know the Party’s overlapping mouthpieces: the mainstream media, think tanks, government and intelligence agency propaganda organs, crony executives and their companies, Hollywood, and academia. And we know the figureheads who stock governments and their allied institutions, and the Party puppeteers who pull their strings.

The Perfect Gift

Amazon Paperback Link

Kindle Ebook link

Continue reading