TAX POLITIX
The Politics of Taxes
The TEA Party Turns Five
CBO: The Minimum Wage Bill Will Increase Unemployment
The CBO considered two different possibilities to raise the minimum wage, as a Democrat bill is set to be introduced in the Senate in a few weeks. From the CBO report: "Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the...
Work Is Not A “Lifestyle Choice”
It was certainly no surprise to most of us the the CBO report showed Obamacare was costing the economy countless jobs. White House and congressional Democrats could have put a rational spin on it - that this was a necessary price to pay in order to get his signature health care proposal implemented, - but they didn't do that. Instead, they chose a response which showed them to be the disingenuous hypocrites that they truly are. It also showed that the true intention is simply political -- in...
Quickly Noted: Brand Drugs Cut Prices More Than Generics
This was a great article from Forbes countering the misconception that generic drugs are better for price-cutting in the pharmaceutical world. I encourage you to read the piece in it's entirety.
The Massive Farm Bill that Has Little to Do With Farming
Obama signed the Farm Bill into law. This $956 billion bill will set the course of U.S. food policy for the next half-decade. The old farm bill expired in 2012, and its replacement is 959 pages long, costing some $956.4 billion over 10 years. The chart below is courtesy of the WaPo. This bill includes such goodies as: -- $3 million plan for Christmas tree taxes (15 cent levy per tree) --$100 million will go to study how to get Americans to buy more maple syrup --$1 million will buy weather...
Public Debt and Rate of Debt Rapidly Increasing Under Obama
The folks over at CNSNews reported that, according to the US Treasury, Public Debt has increased $6.666 Trillion during Obama's Presidency. The amount of debt listed on January 20, 2009 was compared to the amount of debt held January 31, 2014 -- the most current day available. Those figures are $10,626,877,048,913.08 and $17,293,019,654,983.61, respectively. That means the total amount of debt has gone up $6,666,142,606,070.53 under President Obama. To put it into perspective, public debt...
Political Cartoon About Taxes — Still True 80 Years Later
Sad but true:
“I, Pencil”: The Essay vs The Film
The story of “I, Pencil” is rightfully regarded as one of the most important economic essays of the 20th century. Known for both its brevity and simplicity, “I, Pencil” conveys the truth about the correlation between free people and economic freedom. The brilliance of “I, Pencil” is that the lesson is told from the most unexpected perspective -- that of the lowly pencil. Yet the very humbleness of the pencil is perfectly juxtaposed by the complexity through which the pencil itself comes into...
Vladmir Putin, Goldman Sachs, and Mikhail Khodorkovsky
Mikhail Khodorkovsky, the former Yukos CEO and Russian billionaire, has just recently been released from jail. If I were him, my first act of new-found freedom would be to sue Goldman Sachs for billions of dollars. Watch out, Goldman Sachs investors! I am a liberty-loving free market individual, which means I am generally pro-business. But as I have indicated so many times before, crony-capitalism is not free market, and thus it should be called out. Unfortunately, that cronyism does not...
Errors and Omissions: Protecting the State of the Union From the Statements the President Made
Errors and omissions (E&O) is the coverage that protects you from another individual or company that wants to hold you responsible for something that you provided which does not give expected results. Does the President have coverage? There were many statements made last night during the State of the Union that didn't seem to match up with reality for many Americans. Going through the transcript of the State of the Union, it was easy to point out problems in Obama's address. Below, I've gone...
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