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Economics

Using the Beer Summit to Explain Progressive Taxes

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: The first four men (the poorest) would pay nothing. The fifth would pay $1. The sixth would pay $3. The seventh would pay $7. The eighth would pay $12. The ninth would pay $18. The tenth man (the richest) would pay $59. So, that’s what they decided to do. The ten men drank in the bar every day and seemed quite happy with the […]

Asylum Watch Interprets Bill Gates et al. Vision Of The Future

Bill Gates has become an American icon. He is the epitome of the American success story. Born into a well to do family, he attended the same elite private school as his father had before him. He went on to Harvard but drop out because he had an idea for a new type computer operating system he wanted to work at developing. He would develop an operating system that would allow low tech people to use computers. He called his new computer operating system “Windows”  and he built a company around his idea called Microsoft. Bill’s idea caught on quickly […]

IRS Intercepts Tax Returns!

Think you’re getting a tax return?  Well, maybe not, if the IRS has their way.  IOwnTheWorld has more… Marc Fisher reporting in the Washington Post: Across the nation, hundreds of thousands of taxpayers who are expecting refunds this month are instead getting letters like the one [Mary] Grice [of Takoma Park, Md.] got, informing them that because of a debt they never knew about — often a debt incurred by their parents — the government has confiscated their check. The Treasury Department has intercepted $1.9 billion in tax refunds already this year — $75 million of that on debts delinquent […]

George W. Bush’s Stimulus vs. Barack H. Obama’s – A Look Back

When Obama came into office, he faced the bursting of the housing bubble and a big recession. His answer was to respond with a stimulus package, mostly full of spending, but with some minor tax cuts thrown in for lip service. But his predecessor also came into office faced with a big recession and he also responded with his own stimulus package. Let’s take a look at the way both men handled the problems facing each. As I said above, let us remember why the Bush tax cuts even took place. When Bush & Cheney took office, they faced a […]

Rich Fleeing High Tax New Jersey

That those with money leave places that take said money from them should be obvious, and need no explanation, but there are democrats in the world.  So, in my own sarcastic and demeaning way, I seek to educate the willfully ignorant.  Wyblog helps considerably… Chris Christie’s patented “Jersey Comeback” may need to be rebranded as a plea — “Come Back, please, and bring your money with you.” Because despite his attempts to reduce our state’s tax burden, the exodus of our wealthy residents continues to escalate. New Jersey’s high taxes may be costing the state billions of dollars a year […]

Obama’s “myRA” will sieze your retirement accounts

I hope folks remember Barack Obama’s State of the Union drivel this past January. Part of the lies and distortions spewed by the fraud-in-chief is his “myRA” plan. The one he touted to help people give up their retirement accounts to the government … er … save for retirement. When the government gets access to money, especially American taxpayer’s money, the need to spend that money is uncontrollable. There is somewhere around $19 TRILLION in private retirement account in America. Is there anyone, liberal or conservative who believes those in the government isn’t trying to think of ways to get at […]

The Boomer Retirement Tsunami Will Be Devastating To Younger Americans

Last week I wrote a post in which I offered my condolences to Americans under sixty years of age. I was referring to the mess my generation (The Elders) and the Baby Boomer generation (Soon To Be Elders) have left to the younger generations. Actually the cut off is closer to 53 than 60; but 60 was a nice round number. Now I have some more detailed information to share with you younger folks so you will know just how thoroughly screwed you are. I found this wonderfully informative guest post at Zero Hedge that lists twenty facts about the […]

Will The Government Steal Your Savings? It’s More Likely Than You Think?

This has been a recurrent theme for several years.  It’s been simmering on the back burner, so to speak, but it continues to get some attention from time to time.  The issue is savings.  Whether it be your 401k, or your IRA, or even a savings account; the democrats has been eying them like a crackhead views their pipe.  Big government has wasted trillions on making more poor people, creating dependency, paying off contributors, punishing enemies, arming those that kill Christians, and trying to prop up their union buddies.  Now, after building up an unsustainable debt, they need another fix, […]

Death and Taxes….. and Death Taxes and Crony Capitalists

‘In this world nothing can be said to be certain, except death and taxes. _ Benjamin Franklin, 1817 Ben certainly knew what he was talking about, didn’t he? Life and death are two sides of the same coin. We also know there is no such thing as a free lunch; so it is no surprise to anyone that government is not free. We have to pay for the government we want and, sadly, we also have to pay for government we don’t want. So, we pay taxes for all of our different governments. The problem, of course, is most people feel […]

New Fee for Heating Oil in the Farm Bill? You Bet!

If you use oil to heat your home, prepare to bend over yet again.  It appears that the Farm Bill that is floating around has a new fee for home heating oil buried inside it.  Steve, From America’s Watchtower, has more…  Today I put 100 gallons of oil into my tank and it cost me $369.90, but when the Farm Bill becomes law it will cost me even more to put oil in my tank because hidden in this legislation is a new fee on home heating oil. Congress‘ mammoth farm bill restores the imposition of an extra fee on home heating […]

Obama Wants To Help The Middle Class…. Into The Poor House

True to my word, I spared myself the agony of listening to the President’s State Of The Union address last night. From what I’ve read this morning there were no surprises from Mr. Obama. As expected, the President pretended to be the Champion of the Middle Class and as expected the policies he promoted will do nothing but hurt the Middle Class. I’m talking about his proposal to raise the minimum wage and his offer to create a way for Americans to create a savings plan, which he dubbed, myRA accounts. Let’s talk about these ideas separately. Minimum Wage As […]

More of Obama’s Thug Tactics, con’t.

As reported here at Conservative Hideout previously, the Obama administration is steeped in what can be described as Chicago Thug Political Tactics. Unfortunately, the liberal policies of FDR and LBJ gave vast amounts of money to the political leaders in Chicago to consolidate their choke hold on the city, and therefore, the entire state. “The New Deal of the 1930s and the Great Society of the 1960s gave the Democratic Party access to new funds and programs for housing, slum clearance, urban renewal, and education, through which to dispense patronage and maintain control of the city.” Since Obama cut his […]

Unemployment Down Due to People Getting Jobs, or People Giving up and Dropping out?

If you believe the Obama administration, or his sycophants in the MSM, the unemployment rate is down because of the President’s exceptional leadership and policies in the face of the racist GOP.  This should not come as a surprise, nor should we be surprised that the unemployment rate is really down due to the fact that so many people have dropped out, and given up on trying to find a job.  The Federalist has more… According to new data from the Bureau of Labor Statistics (BLS) released this morning, the U.S. economy last month added 74,000 new payroll jobs, while the […]

Top 10 Ways Congress Wasted Your Money in 2013

We obviously need to introduce the notion of fiscal responsibility to Congress.  There are so many programs and items that are funded by the federal government that need to be sent back to the states, districts, or counties to fund. Whenever Congress, federal and local governments propose spending our money and raising taxes Congress, teachers, and government officials need to ask themselves at least this one question: Is this item or monetary increase absolutely necessary that it is a must to require my neighbor, friends, and family to reach down deeper in their pockets and pay more in taxes? Original […]

Simple Questions About Obamacare

To the American Left, please answer a few questions about Obamacare. How can the ACA be so good when it is going to drive tens of millions of Americans out of their existing coverage when the employer mandate kicks in?   What about the mandate forcing folks to act against their faith? Their 1st Amendment rights are violated under the ACA by making contraceptives, sterilization and aborto-facient drugs are mandatory for employers to provide.   What about the over 20 new taxes that are hitting the American people for a half a trillion dollars? These are levied against medical innovators, […]

The Premeditated Murder of America’s Economy

The title of today’s post is my humble attempt at taking “artistic” license with the title of an outstanding article at Monty Pelerin’s World, Economies Don’t Die. By quoting extensively from this article, my hope is that you will be encouraged to read the entire essay. I have never seen a more clear explanation of what is happening to our once great nation and why it is happening and who are the actors who are a fault. The author (Monty Pelerin is a pen name) starts with this pronouncement: This country will die. History will record the cause as due to […]

The next time Chicken Little claims the sky is falling, the sky will be falling!

 The last time Chicken Little (the banking interests) claimed the sky was falling was when Allen Greenspan, Ben Bernanke, Hank Paulson, and Tim Geithner made the claim in 2008 to President George Bush and Congress that because the sub-prime mortgage bubble had burst the taxpayers would have to bailout the banks or the whole world financial system collapse. You all know what happened as a result of the warning from the Chicken Little(s). We got TARP, Quantitative Easing (QE), and the Fed’s Zero Interest Rate Policy (ZIRP). You see, the central planners of monetary policy can’t help themselves anymore than […]

Is it Time to go Galt (Revisited)? Some Simple Ways to Avoid Feeding the Beast

I original posted this about a year ago, and thought it might be worth another look.  Since our Republic is essentially on it’s deathbed, and Obama’s hand is poised on the plug for the final pull, many are contemplating their role in the new order.  Do we quietly  acquiesce, and accept our enslavement, or do we try to sabotage the nanny state by refusing be be sucked dry?  Well, there is a way to legally and ethically resist the beast-it’s called “going Galt.”   If you are unaware  “going Galt” is a reference to Ayn Rand’s prophetic novel, Atlas Shrugged, in which the […]

Obama’s Stimulus Package? We Are Still Paying For Obama’s Cronyism: Chrysler Plants in Mexico, Bankrupt ‘Green Energy’

America’s Great Recession officially ended a few months after Barack Obama was inaugurated President in 2009. With a Democrat majority in both houses of Congress, he had no problems getting approval for nearly $800 billion to “stimulate” the economy. More than four years later Americans are still waiting to see their economy stimulated. President Obama took the most pride in his “saving” of the auto industry and his investments in “green” technology. Let’s see how his entry into venture capitalism has worked out for those of us who footed the bill. Saving the Auto Industry Remember how President Obama, during […]

Obama Is Eyeing Your Savings!

Remember when President Obama said “there comes a point when a person has earned enough”? Well, it should be a surprise that he also feels that people have saved more than they need for retirement. Mr. Obama has given new meaning to the word “arrogance”. With this scandal a day administration, it is no wonder some of their plans to get their hands on more of your money slip under the radar. On Aril 12, 2013, the Wall Street Journal wrote: How many times have you read financial-advice stories lecturing you to max-out on your IRA, save as much as […]

Idaho Tax Commission Demands “Tribute” From 12 Year-Old

A 12 year-old in Idaho dared to sell fruit by the road.  The state of Idaho seeks to punish him for it. News of a 12-year-old boy being investigated by the Idaho State Tax Commission has sparked a swift response from some members of the state Legislature. One senator is asserting that the staff at the state’s tax commission is too large, while a member of the House of Representatives is suggesting that it is time to reform the state’s tax laws. “I read with interest the requirement of a 12-year-old boy to collect sales tax,” wrote Sen. Steven Thayn, […]

Hyperinflation __ The Answer To Our Prayers for Small Government and Free Markets?

So, the old man in Venezuela says that hyperinflation is the answer to our prayers. Has he finally gone off the deep end? Has he joined the ranks of the most insane in this asylum, in which we are all compelled to live? If I have, I take comfort that I am in good company. This past Friday my good friend Brian of the Frankenstein Government blog introduced his readers to the FOFOA blog, which Brian called pure genius. Knowing that Brian is not prone to hyperbola, I clicked on the link he provided and read for about 15 minutes […]

New Yorkers Going Galt, Fleeing NY, Took $46,000,000,000 With Them

The blue states continue to suffer from the plague that causes the “blueness,” namely, being run by Democrats.  The latest victim is the state of NY.  It seems that lots of New Yorkers decided to say, “nyet comerade” to the state government’s nonsense, and simply leaving. The kicker is?  They are taking all their money with them, and that’s quite a lot! Here’s a map, with all the particulars, from Tax Foundation, via Lonely Conservative… The Blue states, those that are predominately Democrat controlled face an interesting choice; abandon the destructive high taxation and regulation that causes producers to leave, […]

Record Number of Americans Renouncing Citizenship Due to Taxes

As sad as it seems, ever increasing numbers of American  citizens are renouncing their citizenship.  The reason seems apparent-taxes.  Wonk Wire has more… “The number of U.S. taxpayers renouncing citizenship or permanent-resident status surged to a record high in the second quarter, as new laws aimed at cracking down on overseas assets increase the cost of complying and the risk of a taxpayer misstep,” the Wall Street Journal reports. “A total of 1,130 names appeared on the latest list of renunciations from the IRS… That is far above the previous high of 679, set in the first quarter, and more […]

My Fellow Americans, Are You Enjoying All That New Found Wealth?

What’s the crazy old man in Venezuela talking about, you ask? Well, according to our government, as of 8:30 am last Wednesday, all Americans (as a whole) are $300 billion dollars richer than when you went to bed the night before. But, you don’t feel any richer, do you? That’s because you’re not. You are theoretically richer because your government, in its infinite wisdom, decided to change the way they measure wealth creation,i.e., the way the nation’s GDP is calculated and they  have gone back and rewritten history as far back as 1929. A.Z. Leader at the Inform the Pundits […]