Is an Internet sales tax coming? A movement is slowly building in Washington to banish one of the biggest perks of shopping online: not paying sales tax.
That's because the perk has also cost states as much as $23 billion in lost revenue by some estimates, and they want it back. Rep. Bill Delahunt (D-Mass.) this morning enlisted Republican South Dakota Gov. Mike Rounds (R) and other state lawmakers to rally support for his proposed Main Street Fairness Act, which would make it easier for states to go after th... (more) "That's because the *perk* has also *cost* states as much as $23 billion in *lost revenue* by some estimates, and they want it *back*."
Are you f&#%ing kidding me?
Not being robbed at gunpoint is a *perk*?
Not having the states stealing from people is a *cost*?
They *lost* this revenue which they have literally no claim to?
Now they "want it *back*", as if the products of other people's labor was ever theirs?
How much nonsense was fit into just that one sentence? It is so twisted on all points, it literally turns reality on its head.
The state is a gang of criminal robbers, they want to steal more peoples money so they can get more power over people, therefor they are working to create more laws to steal more wealth from the population and anyone who doesn't comply they will have their goons murder if they resist.
How's that for a setup? - Chris |
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13 Ways to Spend $1 TrillionConfronting the federal deficit starts with grasping just how colossal that number actually is. So, what would $1 trillion get you?
The figure is almost incomprehensible: $1,000,000,000,000. One trillion dollars. That's a dozen zeros.
The Congressional Budget Office reports that during the first nine months of fiscal 2010 -- which ends September 30 -- the federal government spent $1 trillion more than it took in. That's another $1 trillion added to a total national ... (more) The government traffics in stolen goods, be it through taxation or indirectly through inflation. Every single dollar the government spends is a dollar taken out of the real economy. If this money was merely left for individuals in the free market to decide how it was spent, it would reengineer society in a direction away from government and towards what people actually want and are willing to pay for. Instead they steal the wealth society produces and burn it on social engineering and corporate welfare. - Chris |
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Marc Faber: Relax, This Will Hurt A LotMarc Faber closed out this week’s Agora Financial Symposium with a speech that pretty much recapitulated the view that the end of the world is if not nigh, then surely tremendous dislocations to the existing socio-political and economic landscape are about to take place (with some very dire consequences for the US). His conclusive remarks pretty much summarize his sentiment best: “We’ve had a trend for most of the past 200 years: GDP of countries like China and India went down while the West sur... (more)
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The Death of Paper MoneyEbay is offering a well-thumbed volume of "Dying of Money: Lessons of the Great German and American Inflations" at a starting bid of $699 (shipping free.. thanks a lot).
The crucial passage comes in Chapter 17 entitled "Velocity". Each big inflation -- whether the early 1920s in Germany, or the Korean and Vietnam wars in the US -- starts with a passive expansion of the quantity money. This sits inert for a surprisingly long time. Asset prices may go up, but latent price inflation ... (more)
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The Tax Tsunami On The HorizonFiscal Policy: Many voters are looking forward to 2011, hoping a new Congress will put the country back on the right track. But unless something's done soon, the new year will also come with a raft of tax hikes — including a return of the death tax — that will be real killers.
Through the end of this year, the federal estate tax rate is zero — thanks to the package of broad-based tax cuts that President Bush pushed through to get the economy going earlier in the decade.
... (more)
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Temporary Unemployment Benefits -- Permanent Welfare?The White House on July 21 extolled the extension of unemployment insurance by the Senate, claiming it was “not only the decent thing to do but one of the most effective ways to boost our economy.” President Obama signed the extension into law immediately, saying that this was “desperately needed assistance to two and a half million American... (more)
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75% Say Free Markets Better Than Government Management of Economy, Political Class DisagreesA new Rasmussen Reports national telephone survey finds that 75% of Likely Voters prefer free markets over a government managed economy. Just 14% think a government managed economy is better while 11% are not sure. These figures have changed little since December.
Polling released earlier this week showed that Americans overwhelming... (more)
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Government Admits Health Care Bill is a "Tax" ... Oh, and the Bill Tracks and Taxes Physical Gold TransactionsEven the government is now admitting that the health care bill is a tax. As the New York Times pointed out on July 16th:
When Congress required most Americans to obtain health insurance or pay a penalty, Democrats denied that they were creating a new tax. But in court, the Obama administration and its allies now defend the requirement as an exercise of the government’s “power to lay and collect t ... (more)
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New Tax Burdens for Selling GoldGigantic congressional bills, crammed with every goodie needed to buy a senator or congressman, filled with little rewards for special interest groups who help the right people, and often jammed with just plain foolishness, are the hallmark of how business has been conducted for many decades in our capitol. The massive healthcare bill passed by Democrats last winter is an excellent example of this messiness. Section 9006 of the Patient Protection and Affordable Care Act amends the Internal Reven... (more)
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The Hockeystick Graph You Should Be Worried About
The median duration of unemployment is more than twice as high today than any time in the last 50 years.Don't worry though, the government will subsidize it to ensure they stay unemployed for years to come! Spare no expense on the taxpayers dime! |
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Gold Coin Sellers Angered by New Tax LawThose already outraged by the president’s health care legislation now have a new bone of contention — a scarcely noticed tack-on provision to the law that puts gold coin buyers and sellers under closer government scrutiny.
The issue is rising to the fore just as gold coin dealers are attracting attention over sales tactics.
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently,... (more)
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How the BP Spill is Not a Failure of Free Markets - Walter BlockDownload MP3
Interviewed by special guest host, Zoe Russell, on the "Free Markets" internet radio program; 17 July 2010. [44:07]
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Harry Schultz on the Power Elite, Free Markets, the Internet and Why Gold Is Going Much HigherIntroduction: Chevalier Harry D. Schultz, KHC, KM, KCPR, KCSA, KCSS, has written scores of books and is considered a founder of the investment newsletter business. Based in Monaco, and now in his 80s, he has been producing his newsletter, The International Harry Schultz Letter (HSL), for over 45 years. During his 65 years of publishing, Harry has lived in 17 different countries and published his work in many of them. He is truly an international man whose shoulders have r... (more)
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Leading Chinese Economists Urge Government To Dump U.S. Treasuries, Buy GoldProminent economists in China are calling for their government to ditch vast holdings of U.S. Treasuries in favour of tangible assets such as gold, a move that would have a far reaching impact on the economy.
Reuters reports that Yu Yongding, a former academic adviser to the Chinese central bank has appealed to state representatives to move away fr... (more)
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Death Tax MusingsI was reading a Beltway columnist’s cry this morning over the can’t-return-quickly-enough federal death tax. The tax does not apply for deaths in 2010 -- but it will for deaths in 2011 and beyond -- which means George Steinbrenner’s sons were spared one heckuva tax bill. This upset the columnist greatly, not because she had anything against George, but because her beloved government was deprived of badly needed revenue.
It occurs to me, however, that it’s not the loss of death-tax... (more)
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GAO Report: Carbon Capture Increases Power Costs up to 80%A new Government Accountability Office (GAO) report released today found that carbon capture and sequestration (CCS) schemes favored by Democrats under their proposed cap and trade national energy tax boondoggle would increase electricity costs, reduce electricity output and increase water consumption.
Sen. James Inhofe (R-Okla.), ranking Republican of the Senate Committee on Environment and Public Works, and Sen. George Voinovich (R-Ohio), released the GAO today covering the stat... (more)
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How Printing Money Constitutes Theft and Forced Wealth Redistribution[Extracted from 'The Case for Legalizing Capitalism' by Kel Kelly]
An example of historical dollars, which used to actually represent claims on real gold and silver.
When new money is created, it enters the economy—technically— in the form of loans to businesses and individuals. The government gets money by selling bonds, which the Fed later buys, and which gives reserves to new banks, reserves that will back new loans to businesses and individuals. But since... (more)
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Layoffs, Socialist StyleAccording to the Socialist Party USA website, “In socialism, full employment is realized for everyone who wants to work,” because, “In a socialist system the people own and control the means of production and distribution through democratically controlled public agencies, cooperatives, or other collective groups. The primary goal of economic activity is to provide the necessities of life, including food, shelter, health care, education,... (more)
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22 Statistics That Prove That The Middle Class Is Being Systematically Wiped Out Of Existence In AmericaThe 22 statistics that you are about to read prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence in America. The rich are getting richer and the poor are getting poorer at a staggering rate. Once upon a time, the United States had the largest and most prosperous middle class in the history of the world, but now that is changing at a blinding pace. So why are we witnessing such fundamental changes? Well, the globalism and "free trade" that our... (more)
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Congress Passes Bankster Consolidation BillChange has arrived. But it is not the sort of change imagined by the fawning mobs of 2008 at Obama's campaign rallies. Obama and Congress have pulled a three-card Monte on the American people. It's called "financial regulatory reform" and it hands unprecedented power over to the Federal Reserve.
"This historic reform creates the strongest protections for consumers in history and the toughest financial regulations since the Great Depression," declares a triumphant White House... (more)
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Marc Faber Expects a Return to Massive Quantitative Easing by October Marc Faber the Swiss fund manager and Gloom Boom & Doom editor said the US is so full of debt, stuck in a period of slow growth and high enemployment, that the Federal Reserve will soon have to revert back to crisis era policies.
Speaking to Bloomberg in a live interview Thursday, Faber said: " I am conviced the Fed will soon implement further quantitative easing," adding "and massively so".
"It will probably happen in september, O... (more)
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