Category Archives: Taxation

Could Her Subjects Be Making Kate Middleton Sick?

Britain, Business, Natural Law, Private Property, Taxation

Great American enterprises like Amazon, Starbucks and Google have braved Britain’s (UK, England, whatever is the politically correct term for that nation of shopkeepers) punitive labor laws and onerous regulations; invested capital in that place—only to have British ingrates complain bitterly.

What is the “tax shaming” public protesting, NOW?

These businesses have found creative ways of keeping more of what is rightfully theirs: their private property, their profits. It is just and good that property remain privately owned. Efficiency is secondary to the issue of natural justice. Still, more private property in the hands of its owners means greater prosperity for all.

When Brit Mike Buckhurst wails that he feels “very passionate about this because at one point in my life I was a top rate tax payer and I paid my tax in full,” he is expressing envy, nothing else—envy that The Other Guy is keeping more of what belongs to him, when he is not.

A good person would be glad about any private property that remains with those who rightfully own it.

(Btw, in loserville—where the US is headed—you are in the “higher” tax bracket when you earn £34,371!)

Yes, British protesters, with their unbounded enthusiasm for state power, prefer that their omnivorous state own what belongs to Amazon, Starbucks and Google.

Tax havens are just that: havens. Laws regulating how people use their rightful capital are unjust laws. The official line always omits, moreover, that wealth in the hands of its rightful owners enriches all sectors of the population more than funds in the sticky paws of officials. Keeping more of one’s income is not “harmful” to the rightful owners of capital, or to the beneficiaries of its investment, which include any and all bar the taxman.

The junta of high-tax governments is always leaning on jurisdictions like the Cayman Islands, Bermuda, and the Isle of Man. If the junta has its way, not only will there be no place left to run to, but by eliminating what tax havens offer, these governments will have eliminated tax competition, and with it the imperative to downsize their fiefdoms.

MORE @ “The War on Tax Havens.”

Could her British subjects be making the Duchess of Cambridge (Kate Middleton) sick? They sure make me sick.

The Dear Leader Lunges For More Powers, Republicans Roll Over

Barack Obama, Conservatism, Constitution, Debt, Democrats, Economy, Republicans, Taxation

The Republican’s “counter bid” in the farce known as the fiscal cliff entails a proposed $800bn in new taxes, derived from closing “special-interest loopholes and deductions,” as well as an alleged (no doubt token) reduction in rates for all. The treachery was to be expected.

Obama, for his part, is showing the Republicans the middle finger, insisting on $1.6 trillion in new taxes, against a delayed promise of a measly “$400 billion in spending cuts to come later. Obama also demanded $50 billion in new stimulus.”

AND, the Dear Leader took the opportunity to grab new powers. Obama is demanding “executive authorization to override the debt ceiling at any time and by any amount he desires.” This, surely, is a formality. If he runs short of money, Dear Leader will turn to The Ben Bernanke to make The Money. (See “Quantitative Easing Explained.”)

Ralph Nader thinks the Killer Drone is even worse than Genghis Bush.

The Fiscal Cliff: A Lemming’s Lunacy

Debt, Economy, Morality, Natural Law, Propaganda, Taxation

Here’s an excerpt from “The Fiscal Cliff: A Lemming’s Lunacy,” the current WND column. Receive the weekly column in your email. Scroll down the page to sign-up for it.

“Since the chicken-little metaphor is hackneyed, let us use the alleged lunacy of the lemming as a metaphor for the prattle that rises from the cattle that is America’s intelligentsia, in general, and on the fiscal cliff, in particular. ‘Alleged lunacy’ because the idea that the adorable fury critter plunges periodically to its death, en masse, is a figment of another intellectual powerhouse: the think tank known as the Walt Disney Company.

From the late-night talk show hosts and their guests to the daytime cable news comedians and their hangers-on: All are discussing the country’s impending and ‘horrifying’ collective tumble down the thing called the ‘fiscal cliff.’

As the fiscal-cliff chant goes, the country is headed for an economic precipice due to a bundle of laws that will take effect at the bewitching hour of midnight, Dec. 31, 2012. Only a compromise between our factioned overlords in D.C., who enacted the law in the first place, will avert mass suicide.

Let us unpack this linguistic construct.

At least some of the noisy nomenclature refers to a package of spending cuts, ‘deep, automatic cuts,’ by Barron’s telling, bundled in the Budget Control Act of 2011.

‘The federal budget deficit will be immediately cut in half, shrinking to approximately $641 billion in 2013 from the approximately $1.1 trillion in 2012,’ estimates financier Peter Schiff. I’m inclined to think of this ‘budget sequestration’ Wikipedia describes as ‘broad and shallow’ as nothing more than cuts to designated increases in spending.

However you slice it, why, pray tell, is this a bad thing?” …

Read “The Fiscal Cliff: A Lemming’s Lunacy” on WND. Receive the weekly column in your email. Scroll down to sign-up for it.

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Death-Spiral States

Debt, Economy, Government, Political Economy, Private Property, Socialism, Taxation, The State

A death spiral state is one in which the parasites outnumber the hosts. In these states, the taker-(public sector workers)-to-maker (private sector workers) ratio is unsustainable.

William Baldwin of Forbes magazine defines a death-spiral state as one that has “more takers than makers,” where “a taker is someone who draws money from the government, as an employee, pensioner or welfare recipient. A maker is someone gainfully employed in the private sector.”

Charitably, Forbes counts only “11 death spiral states, rang[ing] from New Mexico, with 1.53 takers for every maker, down to Ohio, with a 1-to-1 ratio.”

Consider (or don’t):

Let’s say you are a software entrepreneur with 100 on your payroll. If you stay in San Francisco, your crew will support 139 takers. In Texas, they would support only 82. Austin looks very attractive.