Archive for October 2008
New voter registrations are down 6% compared to the 2004 Presidential race.
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for not redistributing wealth! His own words!
“The power to tax is the power to destroy.” —Chief Justice John Marshall
“Don’t expect to build up the weak by pulling down the strong.” —Calvin Coolidge
“When it becomes dominated by a collectivist creed, democracy will inevitably destroy itself.” —Fredrich August von Hayek
With respect to the two words “general welfare,” I have always regarded them as qualified by the detail of powers connected with them. To take them in a literal and unlimited sense would be a metamorphosis of the Constitution into a character which there is a host of proofs was not contemplated by its creators. If the words obtained so readily a place in the “Articles of Confederation,” and received so little notice in their admission into the present Constitution, and retained for so long a time a silent place in both, the fairest explanation is, that the words, in the alternative of meaning nothing or meaning everything, had the former meaning taken for granted.
— James Madison, letter to James Robertson
This excludes welfare, farm subsidies, ethanol tax credits and any other form of support or subsidy not entirely funded by the receiving entity.
Every $100 billion in bailout requires at least $130 billion in taxes, where the $30 billion extra is the cost of getting government involved.
If you don’t believe me, just watch how Congress and Barney Frank run the banks. If you thought they did a bad job running the post office, Amtrak, Fannie Mae, Freddie Mac and the military, just wait till you see what they’ll do with Wall Street.
— Arthur B. Laffer – read it all
With the election just days away, The National Law Journal, as it has in the past, invited the major presidential and vice presidential candidates to write about the legal issues facing the next administration and to offer their views on such topics as the rule of law, the federal court system, judicial appointees and priorities for the U.S. Department of Justice.
So far, only Sen. John McCain has accepted the invitation.
You can read McCain’s response here.
Our current economic nosedive, combined with the massive bailouts, marks the beginning of the end of the United States’ economic dominance. Soon we will be a second tier economic power at best.
BEIJING (Reuters) - The United States has plundered global wealth by exploiting the dollar’s dominance, and the world urgently needs other currencies to take its place, a leading Chinese state newspaper said on Friday.
The front-page commentary in the overseas edition of the People’s Daily said that Asian and European countries should banish the U.S. dollar from their direct trade relations for a start, relying only on their own currencies.
A meeting between Asian and European leaders, starting on Friday in Beijing, presented the perfect opportunity to begin building a new international financial order, the newspaper said.
Ron Paul issued warning before the bailout was passed that it would have a devastating effect on the World’s economy. I hate to say I told you so, but Ron Paul has been telling us so for years only to be ignored by voters and politicians alike. I guess that makes the politicians no smarter than the average voter.
I don’t like the income tax. Every time we talk about these taxes we get around to the idea of "from each according to his capacity and to each according to his needs." That’s socialism. It’s written in the Communist Manifesto. Maybe we ought to see that every person who gets a tax return receives a copy of the Communist Manifesto with it so he can see what’s happening to him.
— T. Coleman Andrews, Commissioner of Internal Revenue,
U.S. News & World Report [May 25, 1956]
If property ownership was required as a qualification to vote and people who receive government handouts were disqualified, McCain would win by a landslide and we would have a stronger nation in the long run.
The dependency class, created by government, would be reincentivized and more opportunities would exist.
The time to save the republic was during the Republican nomination, when the only candidate who understood the financial dangers it faces was still in the running. But a party so foolish as to reject a Ron Paul in favor of a John McCain neither understands the real issues at stake nor does it merit the support of conservatives, constitutionalists or libertarians. As long as the Republican Party stands for Democrat light, those who value small government and human freedom cannot reasonably support it, even if the Democrats are represented by the second coming of Stalin himself.
When presented with a choice between Bolshevik and Menshevik, the only rational choice, the only sane choice, is to refuse to choose.
“The progressive income tax is a good example of Karl Marx’s maxim, ‘From each according to his ability, to each according to his need.’ America, the cradle of capitalism, clings to Karl. Russia, the cradle of communism, has abandoned him in favor of a flat—and very low—tax on income.—ILANA
