Archive for May, 2009

In any mechanical system, you put energy in, some of it is wasted by friction, and when you get the energy out, it’s necessarily less than what you first put in. Government is like friction! Why is government wasteful? The answer to this question is actually very simple! Government is wasteful because it spends other people’s money. Anyone who’s ever had an employee’s expense account knows that when you’re spending money that isn’t yours, you have very little... Read More→

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I came across several instances where socialists argue how policies and systems commonly referred to as “socialism” are actually not. They usually cite some idealistic view of socialism that in reality can never come about and state that that’s real socialism while everything else is not. In a Washington Post article entitled “Obama’s No Socialist. I Should Know.” Bill Wharton, editor of the Socialist magazine, goes as far as arguing that Barack Obama is not a... Read More→

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How else would there be so many wealthy Democrats in favor of tax increases? It is worth to spend up to X dollars in order to avoid X dollars in taxes, and therefore, the more taxes the government is after, the more a tax payer can budged for the following: Relocation to a different state or country with lower taxes. Extremely smart tax attorneys. Business and corporate restructuring. Forming a foreign company and using it as an off-shore tax shelters. Expatriation, namely renouncing one’s... Read More→

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Giving up one’s citizenship to save on taxes is a rare drastic measure, but looks more attractive as taxes go up. The following is an excerpt from an article by Brigid McMenamin published in Forbes, February 28, 1994. You are upset with the latest tax increased that you are seriously thinking about quitting the country. Does this make any sense at all? ENGLEWOOD, COLO, attorney Ronald Rudman recently got a call from one of his more prominent clients, a well-known entrepreneur. The businessman... Read More→

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