Governments across the globe are raising taxes, expanding government control. Wall Street Journal. Dec. 18, 2023. Tom Fairless of the Wall Street Journal writes that “The Era of Big Taxes Is Upon Us.” “Tax revenues have risen to record levels as a share of economic output” in France, Japan and South Korea. “In the U.S., …
Category: Government’s reckless spending
Jan 27
Stephen Moore: the US spent ONE-SIXTH of its economy to contain COVID, which hasn’t been contained
The great economist Stephen Moore writes that in just 37 years, the federal budget increased from $1 trillion to $7 trillion. “So, in less than four decades, the budget has grown sevenfold. Much faster than inflation. Much faster than the economy.” “The government is now gobbling up the economy, spending up to 30% of our …
Jan 27
Sales of electric vehicles plummeted in 2019 despite immense government coercion and pressure
2019 saw FORTY-FIVE (45) new models of electric vehicles hitting the global markets. Automakers like Hundai, Audi, and Jaguar are literally betting their futures on such vehicle sales, spending hundreds of millions of dollars to design, manufacture and promote the electric vehicles. A number of governments in Europe have actually passed laws BANNING fossil-fuel-powered cars …
Jan 04
Socialist Illinois has been losing population for six consecutive years
It was once the freest and most productive place in America. Innovators like John Deere, Caterpillar, State Farm, and Sears rose from the grain fields and rail yards of Illinois to become major players in world industry. But years of socialist politics have taken their toll on the Land of Lincoln. The high-tax state has …
Dec 28
Socialist Baltimore sets all-time homicide record
Government is a disease masquerading as its own cure. Get ready for some astounding statistics: Murder rates have generally declined across America since the 1990s. But one city—Baltimore—has set its all-time per capita homicide rate in 2019. Newspapers ponder the cause. It isn’t population density. Baltimore has LOST population since the 1980s as its most …
Jul 04
Socialist California has gone from the 5th largest economy in the world to the 7th
Forget the overuse of the terms “liberal” and “democratic.” A more accurate description is pro-government. California’s “leaders” have driven its policies in an extreme pro-government direction for 30 years. One-third of the nation’s welfare recipients are in California, which has only one-eighth of U.S. population. See here. “What Happens When Democrats Run Your State?” California …
May 05
Ten years ago, CBO estimated that Congress would run a $151 billion surplus in 2017. Instead, they ran a $665 billion deficit.
Ten years ago, The Congressional Budget Office (CBO) estimated that Congress would run a $151 billion surplus in 2017. Instead, the U.S. ran a $665 billion deficit. Now the CBO projects $12.4 trillion in additional debt over the next decade. This represents a more than 50 percent increase to the current national debt, which has …
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 …
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 …
Jun 15
Illinois government nears bankruptcy, halts almost all payments for road construction
THE STATE NOW SPENDS MORE ON ITS UNIVERSITY PENSIONS THAN IT DOES ON ITS UNIVERSITIES Socialism is a curse that should be wished only on a hated enemy. A generation ago, Illinois was known for farm and manufacturing production, and was one of the wealthiest areas of the United States. But years of political domination …
