Politicians talk about the uninsured. Special interests argue on behalf of those with pre-existing conditions. But why is no one wondering how doctors are affected by the new law? They’re the ones on the frontlines dealing directly with new patients, as well as the red tape that makes bureaucracies go round.
Politicians proclaim the benefits of small business while on the campaign trail. But when they meet in the seedy halls of Congress, they have no problem doing whatever they can to stifle, regulate, and subdue their progress. Instead of siding with entrepreneurs, these politicians often side with political allies and cronies that helped put them into office.
Just because you’re retired doesn’t mean you have to stop working. Especially now that you have all the time in the world to do what you really want. Entrepreneurs don’t only come out of Silicon Valley. They come from all walks of life, from all different ages. If you’re retired and want to stay active while you relax, then find out the steps you need to take in order to start, manage, and grow your next small business.
Technology brought the world together. But has it gone too far? Decades ago, mail was delivered by hand. Now it’s delivered in seconds. How has that changed the way you live your life? How has it changed the way people act with each other? These are just some of the questions we need to ask.
The U.S. dollar has been the world's reserve currency for almost a century, and already there are signs it may be in decline. But that doesn't mean it's not still valuable. On the contrary... As Chris Mayer explains, there are many reasons the U.S. dollar will remain relevant on the world stage for years to come. Read on...
Gun control isn’t a modern idea. The rise of gun control laws and limits on your 2nd Amendment freedom go hand in hand with the increase in the size and scope of government. Politicians want you to think the only people who can keep you safe are government forces. But as one renown libertarian economist and thinker will show you, their misguided laws do nothing but take away your freedoms and leave you less safe.
The government will do whatever it takes to make sure it has enough of your money to fund itself. On the surface you might think that means enduring a grueling audit. But the IRS and the government is more than willing to ignore your privacy in the cold relentless pursuit of the money they think they deserve. As they get bigger and bigger every year, the smaller and smaller your paycheck becomes as they leach off it.
The Congressional Budget Office said the government needed to reach 7 million people by the end of March. They claim to have reached the goal and now the debate about Obamacare is over. But what does this milestone really mean in the ongoing healthcare discussion? And more importantly, how will it affect reforms going forward?
If you’re good at something should you be penalized so others have a chance at success? Should award winning actors and actresses be barred from future Oscar ceremonies to give other men and women the chance to succeed? Success should always be rewarded and encouraged. But what happens when you have a government that wants to even the playing field and take away the spoils of success. Gregory Bresiger finds out...
In an effort to cut costs and keep track of patients' records, governments could institute a medical guideline cookbook. Bureaucrats might think they have the best of intentions in mind, but these new rules would drag down the medical process and destroy whatever quality is left in our current system.
Practical people often pooh-pooh fiction reading as a time wasting dalliance, dominated by a Marxist coloring of the world. However, fiction readers were given a scientific reason recently for spending hours absorbing fanciful figments of someone’s imagination.
Argentina is suffering the ravages of government debasement of the currency -- i.e., inflation, the process by which government pays for its ever-increasing debts and bills by simply printing more paper currency. The expanded money supply results in a lower value of everyone’s money, which is reflected in the rising prices of the things that money buys.
When government expansion is allowed to continue unabated or when it casts a heavy regulatory shadow on America’s entrepreneurial spirit, the freedoms that we’ve come to know, and perhaps take for granted, slowly begin to slip away.
The saga of All Saints could soon be coming to a community near you. Thanks partly to the scandal surrounding the IRS’ targeting of conservative groups, the agency has proposed a new set of rules for a huge number of social-welfare groups that claim tax exemption under Section 501(c)4 of the tax code.
The new reality of Obamacare’s tax credits has left finance reporters to pen articles warning readers to “take care” when considering a tax credit and providing strategies for how best to “protect yourself.” So what do finance reporters know that the White House doesn’t?
Nihilo ex nihilo fit. Out of nothing, nothing comes. First put forward by ancient Greek philosopher Parmenides in the fifth century B.C., Thomas Aquinas and St. Augustine later used this axiom to prove that the universe needed a “first mover” to get things going. Even if the whole thing began with some kind of “Big Bang” moment, it still needed a banger to bang it. Who? God, of course.
What positive steps can we take? The energy that is now expended by well intentioned, freedom-seeking individuals on the destructive course of politics can be turned into powerful steps that will have a positive effect on the future. All are moral, right and just. None require aggressing. Consider the following...
The Affordable Care Act creates a new health insurance marketplace (the exchange). But because of the great uncertainty about what buyers will enter the market and who will buy what product, the law creates three vehicles to reduce insurance company risk.
Politicians and bureaucrats are notorious for manufacturing euphemisms -- clever but deceptive substitutes for what they really mean but don’t want to admit. That’s how the phrase “revenue enhancement” entered the vocabulary. Some of our courageous friends in government couldn’t bring themselves to say “tax hike.”
“It is difficult to make predictions, especially about the future,” says a proverb often attributed to Yogi Berra. Imagine the world of freedom, or lack of it. Who could foresee the technologies that make our lives so rewarding and convenient? The same technologies have us all under the government’s giant microscope. Thankfully, the brave have turned the microscope around.
In the months since Edward Snowden revealed the nature and extent of the spying that the National Security Agency (NSA) has been perpetrating upon Americans and foreigners, some of the NSA's most troublesome behavior has not been a part of the public debate.
National Treasury Union President Colleen M. Kelly recently described the 2014 IRS budget allocation as “woefully inadequate.” But the agency has not proven itself to be an efficient steward of taxpayer dollars. Here are ten ways the IRS lost the trust of the American people.
It’s easy to be negative about the U.S. economy these days. Find a glint of silver, and folks come running to point out all of the dark clouds looming about. This, of course, is what we got last week when the monthly jobs report was released from the U.S. Department of Labor (DOL). Folks pooh-poohed the number of jobs and whining that they’re not enough or that it’s less than a bunch of economists thought that it might be. But you know what? Stuff ’em.
Given how poorly states like California and Illinois have funded the pension funds for their own employees, one would think that this would stop dead in its tracks any plan to have the government assist in managing private sector funds too. The spate of recent activity, however, suggests otherwise.
Facts are easy. You can check facts. What supporters of the Affordable Care Act are doing, on the other hand, transcends factual bungling. It’s far more advanced: a warping of reality so debauched it looks like something out of a tale by H.P. Lovecraft.
The problem for NSA apologist is that when guys like Snowden disclose that the government conducts comprehensive surveillance in ways that would have made 1984’s O’Brien drool, it puts the entire progressive agenda in jeopardy.
The east coast and parts of the southern U.S. were to varying degrees paralyzed by blizzards a few weeks ago. The snow as expected rendered the roads treacherous, and in anticipation of slick streets, shoppers flocked to the grocery stores in advance.The rush into grocery stores, and its aftermath, offers worthwhile lessons in economics.First up, […]
Let’s say that a thief demands $100 and lets you keep $10 because he likes your suit. He calls that a deduction. The next day, he demands the whole $110. He says that he is not stealing more. He is only eliminating deductions and closing loopholes. That’s the GOP’s tax plan in a nutshell.
They say that it is not about raising your taxes. That’s what Democrats do, and Republicans don’t do that sort of thing. Instead, Republicans favor the “flat tax” that is “revenue neutral.” They will “pay for the tax cuts” by capping deductions on high income earners. Or perhaps they will just remove the mortgage interest deduction or other “loopholes” that allow you to keep more of your money.
How stupid do they think we are? Sadly, they might be right. Most people’s eyes glaze over when politicians start talking tax reform. They understand that “raising taxes” is generally bad, but they do not understand that “eliminating deductions” amounts to the same thing. Either way, you pay. The only real difference is the public relations pitch.
Actually, the GOP has been raising taxes for decades, just less openly so. Reagan’s tax increase of 1983, as recommended by the Greenspan Commission, was disguised as a premium increase to save Social Security, but it was actually a gigantic increase in the payroll tax that was later applied to general revenue. It put off the endgame for Social Security for a while, but for the average taxpayer, it was nothing but a tax increase.
This tax has extracted some $2.5 trillion since it was first enacted. Somehow, Reagan maintained his reputation as a tax cutter, and still does to this day. It has something to do with the need for partisan illusions. Premiums, they tell us, are not taxes. The same thing is happening with the Romney ticket. It is out there every day talking about raising taxes, just with a different name, yet the Democrats blast back with the claim that the Republicans are busting the budget with proposed tax cuts.
Both parties are pushing for some kind of tax reform, but the key rule is “revenue neutrality.” All these plans are doped out with the presumption that the planners can perfectly anticipate future revenue, but the regime change has no effect whatsoever on people’s behavior in the marketplace.
They presume that a cut here will decrease revenue by a certain amount and that an increase there will increase revenue by a certain amount. The truth is that you can’t know. No one expected or anticipated that government revenue would collapse after 2008, for example, and that was with no tax overhaul at all. The political parties can cite all the “studies” they want, but no one can perfectly anticipate the effects of changes in the tax law.
In effect, the rule of “revenue neutrality” means that no one is talking about serious change in taxes at all beyond increasing them in more or less serious ways. It’s the same with spending cuts: Politicians can talk about them, but they will not deliver them so long as the Federal Reserve stands in the background ready to print any amount money to cover any amount of debt that the Congress runs up.
If anything, the GOP position is the more dishonest of the two parties because the GOP is forever claiming that the Democrats want to raise taxes whereas the GOP does not. The truth is that both parties have their green eyes fixed on your bank account with the intent to grab more one way or another. The choice voters face really comes down to how they want their tax increases packaged: as a hurt-the-rich scheme or as a flat-tax scheme.
Every tax reform in my lifetime has actually been a push for higher taxes in one form or another. And there are still other ways to raise taxes besides raising taxes, reducing deductions, capping deductions, and closing loopholes. You can raise tariffs, increase user fees, enact quotas, inflate the money supply, or outright confiscate people’s property through police state tactics. All these methods suck resources from the private economy into the government.
The goal of every tax reform is to do this in the sneakiest way possible.
The media are no help in clarifying language. When a politician proposes a cut in taxes, the reporter imagines that he or she is a clever and hard-hitting journalist by shooting back: “How are you go to pay for that?” Nonsense. If the thief decides not to take your wallet, he shouldn’t be asked how he is going to pay for his failure to steal.
Of course, all of this is beside the point, really. The core problem is spending. If the government didn’t spend money, it wouldn’t need to tax anyone. The only real way to lower taxes over the long run is to cut spending, but again, this is not going to happen. Even those who talk about spending cuts are really talking about cutting the rate of increase in spending over five or 10 years in budget projections that have never panned out even one time in the history of the universe.
Knowing all of this makes you doubt the whole point of these ridiculous political debates. Yes, that’s the idea. It is worse than pure entertainment because the whole show masks the greatest racket in the world today. A useless elite is living off your money and telling you that you are better off as a result. And when you question why, they throw accounting trickery and fancy language in your face that all amounts to the same thing: The beatings will continue so long as you don’t run away.
And running away is precisely what is happening. The lower on the list of economically free countries the U.S slips, the more people are looking to the underground economy or to emigration to protect their own freedom. What this suggests is that the scam isn’t working as well as it used to. It’s long past time that people stop believing these thieves, much less trusting their motives.