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 …
Category: “income inequality”
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 …
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 …
Sep 06
Kentucky government workers retiring early to avoid looming pension collapse
For decades, governments at every level have been overpaying government “workers.” Government employee unions have negotiated contracts in most states and large municipalities which result in government retirees living like kings among starving peasants. In states such as California, New York and Illinois, state retirees commonly RETIRE on six-figure annual pensions. Even in districts where …
Sep 06
More misery in socialist Venezuela
Socialist Venezuela continues spiraling into misery and environmental devastation. Just 20 years ago, Venezuelans were the richest and healthiest people in Latin America. Then they voted for socialism. Government took over businesses and industries, took over health care and food distribution, and chased out capitalists. Now Venezuelans struggle for survival daily. Photos show them butchering …
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. …
Aug 19
New report confirms that electric cars have larger “carbon footprint” than gas or diesel cars
U.S. taxpayers have been forced to subsidize government “alternative energy” schemes on a truly massive scale. Tesla and its overpaid CEO Elon Musk have milked taxpayers already for almost a billion dollars. Tesla manufactures expensive electric cars–sold primarily to the super rich–with the massive support of U.S. tax dollars. One could say the program is …
Jul 26
Government’s War on the Poor: More than 1/3 of Households have No Savings
Government policies punish savers so much that it is utterly foolish to save even a penny. Near-zero interest rates. “Social Security” payroll taxes. Medicare and Medicaid. Obamacare. Market-entry barriers such as occupational licensing laws. Government policies incentivize Americans to work less, build less, create less, save less, be unhealthy, sick and weak. “Nearly 20 million …
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 …
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, …
