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Michigan Voters Smash Tax Hike Referendum

Posted on May 9, 2015

michigan-vote

Proposal 1 suffered the worst defeat Tuesday of any Michigan ballot measure since the current Constitution was adopted more than a half-century ago, as 80 percent of voters rejected the sales tax increase and road funding plan. . . . This year’s thumping occurred even though the measure was backed by Gov. Rick Snyder as […]

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Christian Economics in One Lesson: Chapter 4

Written by Gary North on April 25, 2015

christian-economics

Public Works Mean Taxes For the lips of a strange woman drop as an honeycomb, and her mouth is smoother than oil: But her end is bitter as wormwood, sharp as a two-edged sword (Proverbs 5:3-4). The author of Proverbs in the first nine chapters contrasts the faithful wife with the strange woman. He uses […]

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Taxes: Bad News, Good News

Written by Gary North on April 25, 2015

Tax-Recession

Federal tax receipts are approaching 17.5% of GDP. Whenever the percentage gets this high, a recession follows. That’s the bad news. What’s the good news? The percentage rarely gets above this, and when it does, there is a recession. Receipts fall. This means that the federal government cannot get above 20%. It can borrow to […]

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The Best States for Beating the Tax Man

Written by Gary North on February 26, 2015

tax-climate

MarketWatch ran an article on the states that are worst for the common man: “10 states with the worst taxes for average Americans.” The journalist ignored these horrendous tax states: California and New York. It targeted these states as the worst, beginning at the top. Washington Florida Texas South Dakota What do they have in […]

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S&P 500 Breaks Even After 14 Years, 11 Months

Written by Gary North on February 18, 2015

S&P-500

The suckers who did not sell the S&P 500 on March 24, 2000 broke even yesterday: February 17. It closed at 2100. On March 24, 2000, the S&P 500 peaked in terms of purchasing power. It closed at 1527. Go to the inflation calculator of the Bureau of Labor Statistics.  It is here. Type in […]

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Pothole President: Obama’s Tax Suggestion

Written by Gary North on February 2, 2015

potholes

President Obama, now a visible lame duck, proposes the biggest tax hike in his career, other than ObamaCare, which the Supreme Court says is a tax. The money will be used to fix potholes. You know: “shovel-ready.” He has no authority over Congress. He does not submit a budget bill to the Congress. Congress submits […]

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Gasoline Tax Hike? Get Lost!

Written by Gary North on January 13, 2015

The three best nations on earth for low gasoline taxes are Mexico, the United States, and Canada, in that order. This drives liberals crazy. They want higher taxes. They aren’t getting them here. So, the wailing goes on. It’s not fair! There should be higher gasoline taxes! Now that oil has fallen in price by […]

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$3 Trillion to Topple Saddam

Posted on January 8, 2015

The costs of the 2003-2010 Iraq War are often contested, as academics and critics have unearthed many hidden costs not represented in official estimates. The most recent major report on these costs come from Brown University in the form of the Costs of War, which totaled just over $1.1 trillion. The Department of Defense’s direct […]

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Tax Hikes Needed to Pay for Pensions/Health

Posted on December 24, 2014

tax-hikes

The city of Lebanon, Pennsylvania just passed a budget that contains a 28 percent tax increase. . . Lancaster’s pension obligations have increased by 228 percent since 2006. That year, city pension obligations amounted to $1.9 million, covered almost entirely by the state. For 2015, the obligations will be $6.4 million — nearly $4 million […]

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