Category Archives: Economy

Trump Tax Plan Neither Fair Nor Flat, But Based On Faction & Class Warfare

Business, Debt, Donald Trump, Economy, libertarianism, Private Property, Taxation

Whatever happened to the promise of “reducing tax rates on individuals,” Mr. President? Whatever happened to “lowering tax rates, simplifying the tax system” and overhauling the nation’s tax code? You know, to benefit ALL Americans?

President Donald Trump said Wednesday the emerging Republican tax proposal won’t cut taxes for the wealthy, and they may go up, an assurance that appeared to contradict the plan that his administration and GOP leaders are drafting.

… “The wealthy will be pretty much where they are,” Mr. Trump, a Republican, said. “If we can do that, we’d like it. If they have to go higher, they’ll go higher, frankly.”

Who are the wealthy? Two income families bringing in 100K?

Naturally, “Trump wants to lower the 35% corporate tax rate to 15%, though most analysts think that is nearly impossible.”

Gotta keep the Familia prosperous.

MORE at:

GOP to Release Tax Overhaul as Trump Says Rich Won’t Benefit; Republicans prepare for legislative sprint on a plan they expect would cut taxes for the wealthy.”

House, Senate Tax Proposals Likely to Diverge“:

The document will include a specific corporate tax rate and details on the deductibility of corporate interest, Mr. Mnuchin said at a separate appearance at the same event. He said news reports suggesting the six negotiators are far apart are untrue.

Corporations above all.

SEE FACEBOOK THREAD.

To Please The Deep Statists, POTUS Signs A Russia Sanctions Bill He Opposes

Donald Trump, Economy, Foreign Policy, Russia

Signing a punitive bill against another people for “the sake of national unity” is a terrible thing to do. Yet that’s just what President Trump has done.

What happened to the famous veto? President Donald Trump promised his base to restore relations with Russia, but has succumbed, instead, to all the pressure ploys levied against Russia by America’s deranged lawmakers.

POTUS is signing sanctions into law against Russia to curry favor with an establishment that hates him and wants to trip him up. These sanctions don’t benefit the American people; only the sinecured statists in DC. Most of the president’s administrative and cabinet appointments have followed the same logic: pleasing the Deeps Statists.

[POTUS] said he signed the bill for “the sake of national unity” and hopes there will “be cooperation between our two countries on major global issues so that these sanctions will no longer be necessary.”

You can’t stick it to a country, however defanged economically and militarily (Russia), and expect goodwill to follow.

The bill limits the president’s ability to lift or waive sanctions against Russia and keeps in place sanctions the Obama administration imposed last year. It allows the U.S. to deny entry and revoke visas for individuals who have engaged in certain activities, such as selling arms to the Syrian government and abusing human rights.

The always plain-spoken and perceptive Russian Prime Minister, Dmitry Medvedev, described “the move as a humiliating defeat for Trump. … “The hope for improving our relations with the new U.S. administration is now over,” said Medvedev, who served as Russian president in 2008-2012 before stepping down to allow Vladimir Putin to reclaim the job.”

For his part, “Russian President Vladimir Putin has said Russia will expel 755 US diplomatic staff and could consider imposing additional measures against the United States as a response to new US sanctions.”

Putin said in an interview televised on state television on Sunday that he ordered the move because he “thought it was the time to show that we’re not going to leave that without an answer”.

He, however, ruled out any immediate measure against the US. “I am against it as of today,” Putin said in an interview with Vesti TV.

Moscow ordered the US on Friday to cut hundreds of diplomatic staff and said it would seize two US diplomatic properties after the US House of Representatives and the Senate approved new sanctions on Russia.

Russia said the US had until September 1 to reduce its diplomatic staff in Russia to 455 people, matching the number of Russian diplomats left in the US after Washington expelled 35 Russians in December.

How is this good for Americans? For Russians? How is this good for anyone but the John McCain foreign policy posse?

John Maynard Keynes’ Influence At Harvard Business School, And Beyond

Debt, Economy, Political Economy, Socialism

Interesting points about what the procession of Harvard Business School elites has wrought on the American economy were made on Tucker Carlson Tonight. Making them was Duff McDonald, author of The Golden Passport.

Nothing in the interview was said about the baleful contribution of John Maynard Keynes’s credit and consumption-based voodoo economics on the entrenched thinking at Harvard Business School, and on world political establishment. (That’s not to say Keynes’ “politically inspired economic theory” is not covered in the book. It could well be.)

Because consumption is its be-all and end-all, consumer confidence is crucial to the Cult of Keynes. If the consumer is not crazy confident—even when he ought not to be—goes the “thinking,” he’ll quit consuming until he drops. In short, Keynesian economic animists hope that the holy spirit of “confidence” will enter the once bitten, twice shy lender, and make him lend. The same spell is supposed to mysteriously move the unemployed and penniless to spend.

In his wonderfully learned book, The Failure of the ‘New Economics, Henry Hazlitt summed-up the essence of Keynes’ General Theory: “The great virtue is Consumption, extravagance, improvidence. The great vice is Saving, thrift, ‘financial prudence.'” Duly, Keynes’ acolytes in all administrations are always vowing to make credit flow “the way it should.” Never mind that “all credit is debt,” and that, in Hazlitt’s words, “proposals for an increased volume of credit are merely another name for proposals for an increased burden of debt.”

Open Borders & GDP: Relying On One Statist Scam (GDP) To Promote Another

Debt, Economy, Free Markets, Government, IMMIGRATION, libertarianism, Paleolibertarianism

Ilya Somin, Professor of Law at George Mason University, states that “free migration throughout the world could potentially double world gross domestic product.”

Relying on the GDP measure to motivate for open borders is typical of the arguments made by lite libertarians.

The GDP measure is itself a state-driven metric. Official GDP numbers are deceptive because they chart—and include—the growth of government debt. In order to come to grips with America’s real economic prognosis, you must tease apart modest economic growth from the monstrous accretion of public debt.

“The GDP is a political construct, defined, tracked and manipulated by the D.C. political machine. GDP statistically conflates the growth of debt with economic growth.”

In a word, the good and surely sincere professor is relying on one statist scam, GDP, to promote another, centrally planned mass immigration.

Besides, a country is more than an economy.