Jan 01
The U.S. has the world’s highest corporate tax rates, driving many corporations overseas and preventing others from ever starting. Yet “progressive” politicians continue to demand that corporations be taxed even higher. Puerto Rico’s economy provides a vivid illustration of what happens when a government hikes corporate tax rates. Puerto Rico is in default on its …
Dec 20
Fascinating expose’ in the New York Times yesterday. “Inside the Billion-Dollar Battle for Puerto Rico’s Future” The report details how the outrageous overregulation and overspending by Puerto Rico’s “leaders” led to territorial debts which are unpayable. In turn, Puerto Rico’s “leaders” sought bailouts from the world’s richest investors, promising a 20 percent annual return for …
Dec 17
In case more evidence is needed that Montana “Justice Department” officials need some budget cuts, the Department has recently targeted a Billings smoke shop because the smoke shop displayed a cigarette rolling machine. See here. The State claims the display of the cigarette rolling machine–which tobacco buyers can use to roll a couple cigarettes on …
Dec 06
Wal-mart, America’s largest private employer and retailer, is a frequent target for those who hate markets and worship the state. Witness this “documentary” on the megaretailer, frequently shown in union halls, schools and colleges by socialist-leaning professors. Like Michael Moore’s film “Roger and Me,” its target can do nothing right. In “Roger and Me,” General …
Dec 03
Are mass confiscation raids about to be unleashed in Greece? The Greek newspaper Enikonomia reported days ago that Greek taxpayers will be forced to declare all private cash held outside the banks, and all jewelry boxes containing more than 15,000 euros or gold or other metals worth over 30,000 euros. See here. The Greek government …
Nov 27
Chicago, and the State of Illinois, are ‘failed states.’ Parasitic city and state governments have sucked their taxpayers dry, almost to death. See here. The region–which once harbored brilliant entrepreneurs and spawned major manufacturers and businesses–is now a socialist hellhole, which imposes ever-higher taxes on its impoverished citizens. Chicago’s police department has openly operated a …
Nov 18
Two years ago, Burger King merged with Canada’s Tim Hortons chain and declared its merged corporation a Canadian company. The move saved Burger King and its long-suffering shareholders many millions annually in corporate taxes. The U.S.–once the flagship of world commerce and capitalism–now has the highest corporate tax rate on the surface of the earth. …
Nov 12
Just as in other heavily-regulated industries (think meatpacking), the new regulations in healthcare are causing consolidation, fewer but larger insurance companies, and much higher premium costs. Here is a summary of the situation. Dr. Mandy Cohen of the Centers for Medicare & Medicaid Services recently testified that almost 700,000 Americans have lost their health coverage …
Nov 12
After 9/11/2001, Congress deprivatized airport screening and created the Transportation Security Administration. The TSA is 10 times more expensive than the private-contract screening in place before. Yet it provides no greater level of security. Recent undercover attempts to smuggle weapons or breach TSA security checkpoints found that undercover agents were able to get weapons past …
Oct 21
Socialism is a curse that one should wish only on a hated enemy. All societies which embrace it become sick and weak. Gary North has a new column about the death of a major socialist city: Chicago. See here. “The four major employers in Chicago, in this order, are these: the federal government, the public …
