Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Written by Gary North on February 24, 2014
Are things getting better? Are things getting worse? This question still divides the American Right. On the moral front, things are getting worse. On the economic front, things are getting better. It is true that median family income, adjusted for price inflation, slowed dramatically, beginning around 1974. But in the crucial areas of information and […]
Continue reading →Posted on February 8, 2014
The always insightful Americans For Tax Reform have an article up today breaking down the IRS’s plans for taxing our Olympic athletes should they receive a medal. Now I don’t know how much people know about Olympic athletes, but the majority of them make virtually nothing for the thousands of hours they put in training […]
Continue reading →Written by Gary North on January 21, 2014
Many people have heard about the 20-80 rule. This is Pareto’s famous law. Vilfredo Pareto was an Italian economist teaching in Switzerland in the late 19th century. In what remains the most important economics book never translated English, published in 1897, Pareto observed that the distribution of wealth in every European country he examined revealed […]
Continue reading →Written by Gary North on November 27, 2013
Warren Buffett came to a meeting of Detroit’s leaders. So did Lloyd Blankenfein of Goldman Sachs. It was time for cheerleading. Buffett pointed to the recovery of the American auto industry as the model. “Look what happened.” How did it happen? He failed to mention these factors: (1) federal government bailout money, (2) violation of […]
Continue reading →Written by Gary North on November 20, 2013
Probably the most successful conceptual error that is promoted by defenders of tariffs is this one: “Tariffs are good for the nation.” Tariffs, being sales taxes, are good for the national government, but they are not good for the nation. At best, they are less bad for the nation than a graduated income tax. But […]
Continue reading →Written by Gary North on November 14, 2013
Chicago’s politicians love to tax the poor, the addicted, and the politically helpless. Politicians see that poor people are addicted to tobacco. They take advantage of this. They tax tobacco, which means they tax tobacco users. A tobacco tax is a sales tax. A sales tax is a so-called regressive tax: a fixed rate. Liberals […]
Continue reading →Written by Gary North on November 4, 2013
Bill Gross is a very rich man. He manages Pimco, the world’s largest bond fund. As is true of most American multi-billionaires, he is a Keynesian. He believes in the economically creative power of the state. He has understood how the state affects the markets through raw power, and he has profited enormously. In November, […]
Continue reading →Written by Gary North on October 16, 2013
The Internal Revenue Service is on vacation. They know it will be a paid vacation. When the fight over the debt ceiling hike results in a debt ceiling hike, they will be paid for their time off. The House voted 100% to secure this. But for now, 93% of them have gone fishing. The IRS […]
Continue reading →Written by Gary North on September 27, 2013
This man runs a small store. His insurance company insures against theft for only $10,000 per robbery. So, his daughter waited until there was $9,000. Then she deposited the money in the bank. An IRS agent seized the money. She charged “structuring.” The IRS requires you to report cash deposits in excess of $10,000. It […]
Continue reading →Written by Gary North on September 24, 2013
You don’t know, do you? I do. It will cost me nothing. I am on Medicare. It will cost my wife nothing. She is exempt: Christian Health Care Ministries. But what about you? Do you know? Do you know how much higher your premiums will be as a result of all those newly covered citizens […]
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