There seems to be a new (perhaps a recycled) argument about the greatness of socialism circulating around these days. I’m not sure what brought it forth, but I suspect it all started recently after Oprah did a profile of the country of Denmark.
Denmark, as you may know, is a country with quite a lot of social programs. And so the argument goes: Denmark has a lot of socialism and is a successful country, therefore socialism is good.
There are two main problems with this argument:
1. Is socialism... Read More→
In this segment, a panel on Fox News discusses Obama campaign promises that are either broken or well on their way to being broken. Taxes on people making under $250,000 per year will be raised both directly and indirectly, and we’re getting more politics as usual despite a pre-election sentiment (delusion) among many that Obama is a different kind of politician.
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The governor of Hawaii, Linda Lingle, vetoed a bill that would require online retailers, that do not operate their business in the state, but otherwise pay commissions to people who reside in Hawaii and refer traffic to their Web site (a.k.a. affiliates), to collect sales tax on Hawaii’s behalf. (Source: WebProNews.com)
Hawaii is not the only state doing so. And if such laws were enacted by all 50 states, a situation could arise that would require companies that do not operate in multiple... Read More→
Oh, how quickly the socialists break their promises. Obama voters who thought he’ll be sticking it to the rich (as defined by Obama, those making over 250K a year), how wrong you were! Socialists can never pay for their ambitious plans by just collecting from the rich.
In the following video, Dick Morris discusses the forthcoming Obama taxes on the middle class:
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In a July 6th 2009, Washington Post Op Ed entitled “Fattening the Beast:
Obama’s Twist on a GOP Budget Strategy” Fred Hiatt opens with the following:
Since the Reagan era, some conservatives have hoped to shrink government by “starving the beast.” Refuse to raise taxes, they figured, and eventually spending would have to fall.
It’s beginning to look as though the new team may have a similar strategy, in reverse: Increase spending, and eventually taxes will have... Read More→
Wait, I’m confused, didn’t Barack Obama say he’ll raise taxes only on those making $250,000 a year or more? Did that promise seem good to you? Did you believe it? Did you really think a vote for Obama is a vote for sticking it to the rich? Well now we have Cap and Trade, a program which will tax corporations for carbon dioxide emissions, you know the green house gas. What has it got to do with the common folk you ask? Let’s hear it from Barack Obama himself:
Under my... Read More→
High taxation discourages entrepreneurship, investment and attempts at high achievement, while at the same time transferring money to a wasteful government. This suffocates the economy, leading to less economic activity from which to tax. At the same time, a slower economy creates higher demand for social services due to unemployment, lower standard of living, etc. In addition, social programs create their own increased demand for more social spending, as people come to rely on the government.
Consequently,... Read More→
The billionaire Rochester businessman Tom Golisano has announced that he is leaving new york to avoid a $13,000 a day state tax bill and put the money to better use such as charities and his political action committee. Golisano is planning on moving his residence to Florida, where there are no state income taxes. You can read the full story in the Buffalo News.
This is prime example of how a soak the rich strategy doesn’t quite work out as advertised. By leaving, Golisano not only deprives... Read More→
Contemporary American socialist politicians, first and foremost Barack Obama, love to ballyhoo their soak-the-rich, wealth redistribution policies as means of giving everyone an equal shot at the American dream.
However, by doing so, those same policies impose difficulties upon entrepreneurs who want to launch or expand a business. The difficulties come in the form of more taxation and more regulation. Taxation reduces the amount of money available to start and expand a business, while regulation... Read More→
It’s well known that an increase in taxes on an activity results in less of that activity. This is because taxes make an activity cost more. Therefore, a sure way for government to reduce income producing activity, is to increase income taxes. And a sure way for government to reduce investment activity is to increase taxes on investment profits, a.k.a. capital gains. Less income and less investment means a slower economy.
It’s the Poor and Middle Class Who Get Hurt Most by a Slow... Read More→
