Category Archive: burdensome taxes

Nov 16

The world’s richest 1 % now own half the world’s wealth due to overregulation

Government regulations are essentially a wealth redistribution program from the poor to the rich. Those in poverty increasingly find themselves trapped by licensing and other regulatory barriers. In the 1950s, only one in 20 U.S. workers needed the government’s permission to pursue their chosen occupation. Today, that figure stands at almost one in three. See …

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Oct 23

U.S. Life Expectancy Declining under Cradle-to-Grave Government

by Roger Roots, founder of Lysander Spooner University Governments want their subjects sick, weak, scared and dependent. Every generation of Americans has seen its life expectancy improve. Until now. A new Bloomberg News report finds that Today’s Americans are retiring later, dying sooner and sicker in-between. Social Security alone has incentivized millions of Americans to …

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Oct 03

Connecticut taxpayers crushed to the breaking point

Connecticut is one of the wealthiest states in America. Its residents have a high per-capita income. Its corporations are some of the world’s wealthiest and most powerful. But Connecticut has been dominated by socialistic, pro-government extremist policymaking for generations. Today’s Connecticut taxpayers pay some of the highest tax rates in America. Now the State is …

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Sep 19

Californians ready to flee socialism

In 1978, courageous Californians circulated and passed a forward-thinking ballot initiative known as Proposition 13. Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. In the years that followed, real estate became something of a tax shelter even as the vampire-like California legislature …

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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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