Currency

economy

The US gets away with its current spending levels, and the “quantitative easing” (faking money) combined with borrowing, because we remain the world’s reserve currency. Generally, this means that everyone else’s currency is measured in US dollars. […]

Anonymity

FairTax

One very desirable benefit of the FairTax system — and not part of any “flat tax” — is anonymity. No government agency needs to be aware of your income, your transactions, or your assets. […]

Taxation

TJFlag-BlankPaper

Progressive statists tend to think of Constitutional conservatives holding the notion that “all taxes are theft.” This is not a position held by us in general, and it is instead a strawman created to attack us. Here is my thinking on the topic:

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Legislation

Legislation

Imagine that this asterisk is a unit of legislation: * This would be the amount of legislation produced by the United States legislative branch, Congress (i.e., the Senate and House of Representatives), and signed into law by President Obama (in the executive branch) in 2013. This represents about 800 pages of the Federal Register where such laws are recorded. That’s the way our system was designed: the legislative branch creates legislation, the executive branch signs it into law or vetoes it, and that was how laws were to come into being. Now compare that single unit with the laws that were created by the executive branch on its own without involving Congress: […]

Crab Bucket

CrabBucket

Harvey_Rritt commented on the “Acting White” post in a way that made me think a moment:

Terry Pratchett calls it the Crab Bucket. It is a perfect expression. (He does that.) When a crab starts to get out of the bucket full of crabs, the others, awaiting death by live steam, pull the escaping crab […]

Distortion

Wealth_of_Nations

@Pete, who wrote: “at the same time, [Adam Smith] saw the need of government as an interventionary force to prevent excesses that worked against the general public interest” In the material you quoted, and elsewhere, he argued strenuously against exactly this. It is precisely such government interference, “[t]he proposal of any new law or regulation of commerce,” that he warned required “great caution” because of the involvement of crony capitalism. […]

FairTax 5: Amended

FairTax

I had suggested that the FairTax would best be implemented through an amendment process, to make certain that there was no temptation to do sales AND income taxes. This actually is required in the FairTax bill: the 16th amendment providing for income tax must be repealed before the FairTax law takes effect, so it guarantees that there will be no double-taxation. […]

FairTax 4: Losses

FairTax

Tbe original poster wrote: “As a side-issue vaguely related to this, does anyone else detect a surge in the entrepreneurial spirit with people coming up with new ideas, putting them up on kickstarter, getting prototypes made through 3D printing or other means of manufactury, and not having to go through major corporations?” No. (I explained.) […]

FairTax 3: Draft and Poor Cards

FairTax

The discussion ranged to include a possible permanent exemption from income tax for those who have served: “It COULD be a great incentive to get people to join, since we don’t have a draft.” […]

FairTax 2: Incentives

FairTax

Another commenter in the FairTax discussion, and my reply:

[Y]ou’d expect conservative media to support a policy that shifts the tax burden off the rich – the opposite is the case. The Wall Street Journal ran a piece not so long explaining why “fair” tax is an bad idea. It was unexpected to say the […]