The Taxation President

By 1.30.14

The President started last year forcing through sweeping tax increases. The top marginal income tax rate rose by nearly 20%, to punish the most successful for the anti-social acts of working too hard and producing too much. The capital gains tax rate was increased by nearly 60%, as was the tax on corporate dividends. America’s top marginal corporate income tax rate remains the highest among all developed world economies, close to 40% on average, given state corporate tax rates as well.

But those punitive tax burdens are just not enough for President Obama — who should go down in history as the Taxation President. In Tuesday night’s State of the Union, Obama started his proposals with the promising pro-growth concept of corporate tax reform, saying:


Obama’s Inequality Fallacies

By 12.10.13

President Obama veered hard left last week, trying to change the subject from Obamacare to “inequality.” Obama and his Obamabots reflect a lot of confusion whenever they start using this word.

There are two fundamentally different concepts of “Equality.” One is equality under the law, that everyone should face the same rules. That was central to the American Revolution itself, which was the historic cutting edge to abolish the legal “aristocracy,” nobility, monarchy, and all of their vestiges in the law. There is no political dispute today over this form of equality. Republicans and conservatives support equality under the law just as much as Democrats, “liberals,” and Marxists ostensibly do.


Bubbles for the Rich, Welfare for the Poor

By From the November 2013 issue

WHEN GOVERNMENT ECONOMISTS, academics, and the talking heads on bubblevision speak of “modest price inflation,” they know full well that the effects of the quantitative easing policies that they have advocated and implemented have not been fully expressed in America’s consumer price index (CPI). Rather, the best evidence of runaway inflation can be found, among other areas, in the markets for commodities, foreign exchange, equities, bonds, farmland, real estate, and art. Savvy statisticians know this, of course, and many of them have impeached the U.S. government methodology used to compute the CPI. For example, using the methodology according to which CPI was computed in 1980, recent CPI inflation is estimated to have been close to 10 percent. Using the government’s methodology of 1990, CPI inflation for the same period is estimated to have been closer to 6 percent.


Memo to Tinseltown

By 7.16.13

The "capitalist villain" is so persistent, so one-sided, and so misleading that an extended definition of capitalism is in order.


Good News on the Budget Deficit?

By 6.28.13

Despite what might have heard, Uncle Sam remains bankrupt -- big time. 


Self-Proclaimed Economic Wizards

By 6.11.13

The Obama administration’s fundamental scandal.


Can We Get It Back?

By 6.5.13

Booming economic growth was always the foundation of America.


The Demise of Money and Credit

By From the May 2013 issue

Modern banking's math and myths.


Money and Oil

By From the December 2012 - January 2013 issue

One hundred years of monetary disorder.


Community Banks Face a Regulatory Cliff

By 11.21.12

New Basel III banking rules will increase the cost of mortgages and small business loans -- which is bad news for Main Street.