Category Archive: “income inequality”

Aug 08

Study: Welfare has impoverished millions, poisoned entire communities

“Welfare” in the popular sense originated in the 1960s with President Lyndon Johnson’s “War on Poverty.” By the 1980s, profound research by academics documented that households which accepted welfare payments were WORSE OFF 5 years later compared to similarly-situated households which did not receive welfare “benefits.” (Much of this research was PAID FOR BY THE …

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Jul 06

Thousands of millionaires flee socialist Maryland and California

When you tax something you get less of it. In 2008 Maryland’s government passed a millionaire tax, taking more than 6 percent of everything earned by the state’s millionaires (in addition to all other taxes they already pay). One-third of all millionaires in the state either moved away or quit earning so much money the …

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Jun 27

Bozeman Daily Chronicle declares regulations and forced redistribution a “glimmer of hope” for the poor in Big Sky

Under the unlikely headline “Big Sky affordable housing sees glimmer of hope in resort tax funding,” the Bozeman Daily Chronicle printed a bizarre story on June 27. Big Sky is Montana’s wealthiest town–where millionaires ski, golf and recreate and real estate prices are sky high. Prices are high because the town is hemmed in on …

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May 03

New Report: 1 in 6 seniors are millionaires

An astounding new report about American demographics has been summarized by Bloomberg News service. See here. Average wealth for retirees has risen more than 100 percent since 1989, to $752,000, and the share of those who are millionaires has doubled. Also, more retirees—62 percent—are enjoying life without physical or cognitive limitations, according to the data. …

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Apr 30

Government subsidies to help the poor actually harm the poor by causing prices to rise

The above chart was generated by the American Enterprise Institute (AEI) and published on Marketwatch.com. It shows the overall price changes of certain products between 1997 and 2017. As you can see, government-subsidized goods (college tuition and books and medical treatment) have increased at rates much higher than inflation. Meanwhile, ‘tech’ products such as TVs, …

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Apr 27

Just 150,000 of 40 million Californians pay half of state income tax

California has remarkable features. Victor Davis Hanson notes that California is the 5th or 6th largest economy in the world. California’s tech industry is responsible for at least half all internet traffic in the world. But the people of California are saddled with an increasingly socialist government. Fifty percent of Californians pay no state income …

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Jan 19

The rich prepare to flee socialist California

California is a beautiful piece of earth made miserable through human central planning. For years, California legislators and governors have hiked taxes, increased licensing requirements and imposed increasing wealth-redistribution programs on Californians. Now the California government relies so heavily on the income taxes it collects from high earners that the state’s wealthiest 1 percent pay …

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Dec 26

In socialist Venezuela, food trucks must now be escorted by military guards

Socialism is a curse that should be wished only on a hated enemy. Any society that adopts it will inevitably become sick and weak. Just 4 decades ago, Venezuela was one of the wealthiest economies in the world. It was 12 times wealthier than China, and by some measures was the 4th richest country on …

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Dec 07

While the people live in shacks, government employees live in Mansions: the 5 richest counties in the U.S. are now the counties surrounding Washington, D.C.

Today, the world’s richest 1 % own more than the bottom 90 %. See here. While Americans increasingly live in shacks and mobile homes and struggle under life-choking regulations, those in government are wealthier than any population in world history. The five richest counties in the United States are the suburbs surrounding Washington, D.C. See …

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Nov 25

In the past 70 years, 11 states introduced an income tax; ALL 11 have declined as a share of the overall U.S. economy

Government is a disease masquerading as its own cure. Wherever governments grow people become poorer, sicker and weaker. In this eye-opening video, economist Art Laffer discusses his recent study of how American tax rates have impacted American health and well-being. Over the past 70, years, says Laffer, 11 states launched a state income tax. Each …

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