Category Archive: burdensome taxes

Aug 31

Americans now spend more on taxes than on food and clothing combined

America rose to prosperity, abundance and prominence with some of the world’s lowest taxes and the fewest regulations. Property rights and a climate of individual ingenuity and industry brought Americans the world’s highest standards of living. But the past two generations have seen America’s progress arrested. Now taxes take almost half of many Americans’ income. …

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Aug 29

Hope for Denmark: Danes Seeking to Throw Off Government Shackles

Throughout the 1600s, 1700s, and 1800s the people of Denmark were the most capitalistic on earth. Their merchants sailed the seas and transacted in goods throughout Europe and the rest of the world. The people of Denmark (and Scandanavia generally) became the richest on earth. That foundation of wealth sustained them throughout the 1900s. But …

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Aug 27

Complexity of U.S. Tax Code Causes $67 to $378 Billion in Annual Accounting Costs

To put numbers in perspective, the entire state budget of Montana is less than $5 billion annually. Many other states operate on annual budgets of less than $5 or $10 annually. A study by the Mercatus Center has recently found that Americans spend $67  billion to $378 billion in annual accounting costs in the process of …

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Jul 22

Tesla: the Lobbying Firm Masquerading as a Car Maker

Governments worldwide propose “energy policies,”–subsidizing some energy firms while taxing and overregulating others. Picking winners and loses by obstructing free markets. For decades, U.S. lawmakers have been subsidizing “alternative energy” schemes that would never work without government support. “The first justification was that internal combustion engines polluted too much. But emissions steadily declined, and today’s …

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Jun 06

Hartford, Connecticut government approaches bankruptcy despite extracting some to the nation’s highest property, income and sales tax rates

Hartford, Connecticut is typical of eastern cities in that its voters have placed great trust in government management. Connecticut is a wealthy state with thousands of high-earners who work in the insurance industry, and in the greater New York City area. But the State’s tax rates are among the nation’s highest. Hartford, the capitol city, …

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Jun 03

After years of overtaxing the rich, Connecticut tax receipts decrease and Connecticut’s richest citizens flee to other states

Connecticut income-tax collections declined last year for the first time since the recession due to lower earnings of wealthy residents. Many of Connecticut’s millionaires have fled for lower-tax states. In the past five years 27,400 Connecticut residents have moved to no-income-tax Florida. According to the Wall Street Journal, one of Connecticut’s largest companies, Aetna Insurance, …

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May 01

The U.S. has the highest tax rates in the developed world

America rose to greatness and prosperity because of its low taxes, property rights and culture of nonregulation. Over the past century, however, trusters of government have fundamentally altered America’s governmental structure. Today, American economic growth is stagnant, and prosperity is increasingly elusive. See here.

Apr 09

More than 90 % of IRS “structuring” enforcements are aimed at innocent Americans

Some (but not all) Americans are aware that all banks are required to report to the IRS whenever a customer deposits or withdraws cash in the amount of $10,000 or more. The stated aim of this federal law is to catch criminal activity such as money laundering and drug trafficking. Often, the IRS swoops in …

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Apr 03

D.C. Daycare Operators Now Required to Have College Degrees

The District of Columbia has decreed that the directors of any licensed “Child Development Centers” — or day care — must have a “Bachelor of Arts (BA) in early childhood education or a BA with at least 15 semester credit hours in early childhood by Dec. 2022.” The regs also mandate that “teachers” possess at …

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Mar 07

Americans renouncing U.S. citizenship in record numbers due to taxes, overregulation

The United States was once the world’s flagship of freedom and capitalism. It produced more great inventions than any society that ever existed. But in recent years, America has become more government-controlled, taxed, and overregulated. During the past year, more Americans fled the U.S. and renounced U.S. citizenship than ever before. Almost all who fled …

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