Tax Politics
The Politics of Taxes
Bad Votes on Stimulus Amendments
There were several dozen proposed amendments to the huge stimulus bill that recently passed Congress. Many of them failed by a slim margin, but the votes were absolutely outrageous. It is worthwhile to remember these votes for 2022, as many of the Senators voted...
The Stimulus is Unconstitutional
The most recent stimulus package gives money to one segment of the population by taking money from another segment of the population. Since wealth transfers cannot reasonably be inferred as any of the acts allowable by the federal government under the Constitution,...
Senator Warren’s Wealth Tax: A Study in Economic Ignorance
On February 2nd Senator Elizabeth Warren announced that she will join the Senate Finance Committee, the committee tasked with writing this country’s tax laws. She stated, "I'm very pleased to join the Finance Committee, where I'll continue to fight on behalf of...
What Everyone Was Getting Wrong About Gamestop
Gamestop stock may be fundamentally worth $10, or maybe even $20 if there is some hidden value in intangibles or some future prospects. But not $400. The only question is whether those buying at $400 truly had reason to believe that it was worth that amount (which is...
Another Reason Against Additional Stimulus Payments
Proposed legislation in Congress has at its core the addition of $1400 per person (on top of the $600 already passed in other legislation) creating a $2,000 per person payment. Its purpose is stated to be to “stimulate the economy” even though what we actually need to...
Stakeholder Capitalism: Not Really
Stakeholder capitalism is all the rage these days, with Elizabeth Warren and Bernie Sanders at the forefront of the movement. Their participation is just another example of their economic ignorance. The concept of stakeholder capitalism is itself a...