Shrink the State. End the Fed. Balance the budget. Make a profit. Leave an inheritance.
Gary North
Republican Congressman Paul Ryan voted with Nancy Pelosi and the Democrats to kick the fiscal can one more time. He has shown his true colors. For all his rhetoric and charts in 2012 on the dangers of federal debt, he buckled under pressure. He was the Great White Hope for Tea Party voters last November. [...]
Continue reading →Welcome to the AMT: the alternative minimum tax. The AMT will drop down in 2013 to people who make $65,000 a year or more. It presently hits only people making over $400,000. Americans have not budgeted for this. Here are other things they have not budgeted for. No more deduction for state and local sales [...]
Continue reading →Quick. How much money will be cut from 2012′s level of federal spending in 2013 if there is no agreement to repeal the Budget Control Act of 2011? Give a ball park estimate. If you answered “none,” you’ve got it right. The so-called sequestration is not a reduction in spending from today’s level. It is [...]
Continue reading →The price of milk will double if Congress does not pass a replacement farm bill. We will be paying $7 a gallon. That’s because the federal government’s milk producers’ subsidy will go to $7 a gallon. The dairy industry will rejoice. “Happy days are here again!” “We’re in the money!” The lapse of today’s farm [...]
Continue reading →In August 2011, the House, the Senate, and the President all agreed: taxes on all Americans would rise, and government spending would slow on January 1, 2013. They signed that law in order to get Republicans to agree to an increase in the government’s debt ceiling. They lied. They had no intention of raising taxes, [...]
Continue reading →There is fear that the fiscal cliff will lead to spending cuts by the government. This will reduce consumer spending, we are told. But will it? Why? There will be no spending cuts. There will merely be a slight reduction in the increase of government spending. We are told that higher taxes will also reduce [...]
Continue reading →It was great to see. House Speaker John Boehner had to eat another mud sandwich yesterday. The man who sold out the Republican Party four years ago by leading the charge to vote for TARP has suffered a major personal defeat. The anti-tax conservatives revolted. They would not vote for his “tax the super-rich” bill. [...]
Continue reading →This article was written by one of my GaryNorth.com subscribers. It nails the issue, and it nails the Cato Institute’s Dr. Mitchell, who systematically ignores the obvious. In the past 15 years, I have made a lot of charitable contributions, with the total recently crossing the line to eight figures. When I retired six years [...]
Continue reading →A senior fellow at the Cato Institute has written a remarkable article. It implies that the Koch brothers, who are the main source of funding for Cato, are a pair of economic ignoramuses. (Note: “ignorami” is acceptable, if you’re a pedant.) It was published in the Wall Street Journal‘s December 14 online edition and in [...]
Continue reading →Grover Norquist, the much-hated guru of lower taxes, has said we are not going to see a budget deal this year. I have said the same thing. This is good news for the Tea Party, Norquist says. The outrage at higher taxes that will hit the middle class next year will drive people into the [...]
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