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Economics

Greatest Hits- High Cigarette Taxes Backfire Once Again: Illinois Latest State to Collide with Reality

High Cigarette Taxes Backfire Once Again: Illinois Latest State to Collide with Reality– Once again, cigarette taxes fail, but that won’t stop regressives from proposing them! Who would have thought that higher cigarette taxes would reduce tax revenue?  Well, anyone with a brain would have predictecd that, so I guess that’s why regressives went and did it anyway.  Hot Air has the details… With some time having passed to let the cash cow fatten, we should check back in and see what the fine citizens of the Land of Lincoln are doing with their new found largesse. I do hope they’re not […]

Greatest Hits: Top 400 Wage Earners Paid More in Taxes Than the Bottom Half! Leftist Meme Shattered

Top 400 Wage Earners Paid More in Taxes Than the Bottom Half! Leftist Meme Shattered- So much for the mythical 1%!  If you listen to the occupods, the mythical 99% are being completely fleeced by the equally mythical 1%.  Class warfare is a stubborn thing, but reality always wins in the end.  Bunkerville has the meme bustage… Just thought this would be a factoid worthy to report. Reality can be difficult to deal with. Not mentioned is not only do the non-payers not pay, but get money back from the 400. I don’t think 400 come to  “The one percent” […]

Greatest Hits- High Cigarette Taxes Fail to Meet Expected Revenue Targets: Anyone Surprised?

High Cigarette Taxes Fail to Meet Expected Revenue Targets: Anyone Surprised?  It seems that taxing something causes people to avoid the tax?  Say it isn’t so! Apparently, raising taxes on tobacco products is falling out of favor with state governments… According to Patrick Gleason, director of state affairs for the conservative Americans for Tax Reform, tobacco has not been the revenue boon states that have increased cigarette taxes had hoped. “The lack of interest in raising tobacco taxes this year can be attributed to the fact that tobacco taxes have indisputably proven to be a dubious and declining source of […]

Greatest Hits- Taxes: A Historical Perspective

Taxes: A Historical Perspective:  It turns out that taxes kill jobs and cause a loss on revenue?  Who would have thunk it? With taxes on tanning salons and medical devises in the ObamaCare law, and the states proposing taxes on all sorts of services and products, I think it might be a good time to take a look at just how successful other taxes have been.  In 1990, a luxury tax was passed to go after the “rich people” by taxing things that they buy, luxury yachts, private aircraft, specialty cars, and the like.  They were dead set on making […]

Greatest Hits: Is it Time to go Galt ? Some Simple Ways to Avoid Feeding the Beast

Is it Time to go Galt? Some Simple Ways to Avoid Feeding the Beast-There are ways to get away from the grid, of not completely off it.  Why support the system that wants to persecute you? 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 […]

An obscure SCOTUS ruling last week sets the stage for Obama to seize your 401(k)

An obscure SCOTUS ruling last week sets the stage for Obama to seize your 401(k) Tapping the estimated $19.4 trillion dollars in private pension plans is every progressive socialist’s wet dream. I warned you Obama had his eye on your 401(k), and now a little noticed Supreme Court ruling just gave him the green light to seize your money. The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is […]

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

Will The Government Steal Your Savings? It’s More Likely Than You Think? I also ran across the planned thievery of the Spendulous Maximus… 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 […]

Greatest Hits: Barak Obama: “… I will direct the Treasury to create a new way to rip you off.”

Barak Obama: “… I will direct the Treasury to create a new way to rip you off.” Steve found that Obama was eying our retirement accounts with a jealous gaze… A little over a year ago I had posted  More taxes … IRA’s and 401k retirement accounts are soon to be ripped off as well.  In that post I mentioned … the government is strongly considering pilfering the retirement accounts of all Americans. At the end of 2010, there was an estimated 17.5 trillion dollars in United States retirement assets, including 3.1 trillion in 401k’s and 4.7 trillion in IRA’s.  […]

Obama Is Eying Your Savings!

Obama Is Eying Your Savings!: Our Contributor Jim, living in a communist dictatorship, knows all to well how this pans out… 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 […]

Greatest Hits: They Said if I Voted for Romney, They’d Come After my 401(k), and They Were Right!

They Said if I Voted for Romney, They’d Come After my 401(k), and They Were Right!:   Don’t be surprised when they come for your savings… That’s right kids, they government is eyeing your 401(k), IRA, or 403(b) with great envy.  And, as for the title, since Stacey is talking blog shtick, I thought I’d borrow from his well, which is deep with all sorts of goodness.   But, back to the seriousness.  There has been rumblings about the government taking over all private retirement accounts for some time.  Apparently, the democrats just can’t let a big pool of money sit there in […]

Pizza Shop Worker Loves Seattle’s New $15 Minimum Wage, Until He Finds Out That It Cost Him His Job

Hat/Tip to Ashley Dobson at RedAlertPolitics. Fifteen bucks an hour? Score!!!! Then reality sets in… Pizza shop worker Devin Jeran was excited about the raise that was coming his way thanks to Seattle’s new $15 an hour minimum wage law. Or at least he was until he found out that it would cost him his job. Jeran will only see a bigger paycheck until August when his boss has to shut down her Z Pizza location, putting him and his 11 co-workers out of work, Q13 Fox reported. He said that while the law was being discussed all he heard about […]

Beer Warfare: Our Progressive Tax System In ‘Beer Summit’ Terms

bucket beers

President Obama has been waging his class warfare ever since he took office in 2008. Of course, he ramped it up just before the 2012 Presidential Election, in anticipation of campaigning against his preferred candidate, Mitt Romney. And with the 2016 elections just around the corner, I thought that it would be a good time to revisit and explain our progressive tax structure in beer summit terms. 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 […]

Hey New Jersey, this year you’ll work until May 13th to support the government

Congratulations New Jersey workers. If you’re crazy enough to have a job, you’ll spend the first 4½ months of this year toiling to support the moocher class. New Jerseyans will have to work an extra four days this year to be free of taxes, according to a report that once again says Garden State residents have the highest tax burden in the nation. The right-leaning Tax Foundation’s annual “tax freedom day” report card says residents in New Jersey and Connecticut will work the longest in the nation this year to pay off their taxes: until May 13. Last year, “tax […]

MSNBC Talking Heads Mystified by Reality: Can’t Understand why 39% Increase in Costs Would “Put a Business Under”

Popular San Fransisco book store, Borderland Books, is closing it’s doors.  The cause is the fact that that city is increasing the minimum wage to $15 an hour.  MSNBC grilled the owner, and could not seem to understand that increasing a business’s labor’s expenses by 39% will put them out of business. Here is the video… In many businesses, they’re lucky to make a 5% profit, and a lot of their expenses are due to employee costs, but these idiots have probably never actually a business. They believe money just appears in an employer’s pocket, and he refuses to share […]

Radio Shack Files for Chapter 11 Bankruptcy

Long struggling electronics retailer, Radio Shack, has finally succumbed, filing for Chapter 11 Bankruptcy.  Here is more from the Dallas-Fort Worth NBC Affiliate… Struggling electronics retailer RadioShack has filed for Chapter 11 bankruptcy protection and says it will sell up to 2,400 stores. General Wireless, a subsidiary of Standard General, RadioShack’s largest shareholder, has agreed to buy 1,500 to 2,400 of the company’s U.S. stores. As part of the bankruptcy plan, Sprint may open mini-shops in as many as 1,760 of the acquired RadioShack stores. … The company, which has not turned a profit since 2011, still operates nearly 5,500 […]

One Chart Disproves Obama’s Claims That He Is A “Deficit Cutter” – Who Made The Chart? Obama’s Federal Reserve…

Hat/Tip to Doug Ross @ Journal. Just a few short days ago, President Obama uttered these words in his 2015 State of the Union speech: At every step, we were told our goals were misguided or too ambitious; that we would crush jobs and explode deficits. Instead, we’ve seen the fastest economic growth in over a decade, our deficits cut by two-thirds, a stock market that has doubled, and health care inflation at its lowest rate in fifty years. Now I won’t spend time debunking the four lies he told in that short excerpt, instead let’s look at just his […]

When Democrat Hero FDR Confiscated American Citizens’ Gold — At The Point Of A Gun

Hat/Tip to Nick Sorrentino at Doug Ross @ Journal. He was instrumental in the Allied victories in WWII, but his economic policies were disastrous. A little tidbit that is all but forgotten is the fact that Roosevelt forced all Americans to turn in their gold, or else. FDR, the man who studied Mussolini, who birthed the current intrusive state, who started the drug war in earnest, who put Japanese Americans into concentration camps, who extended the Depression years longer than it needed to be and thereby contributed to the genesis of the Second World War, who tried to pack the […]

What The $15 Minimum Wage Will Do To Your Fast Food Meal Prices

Hat/Tip to Melissa Quin at The Daily Signal.