Taxation

Business Tax Exemptions and the U.S. Oil Industry

The uniformity-of-profit principle sheds light on the effect of business tax exemptions and their elimination.

Tax Increases (or Cuts) Not the Real Issue

According to the Congressional Budget Office’s figures, extending the Bush tax rates will only increase the deficit by 4 percent. Actually, critics of the way the CBO figures this out are saying the 4 percent number is too high. They charge that the CBO does not take...

Government without Taxation

In a capitalist society, the initiation of force is banned from the interactions between individuals. In a capitalist society, there is no regulation of businesses–no FTC, FDA, SEC, OSHA, or EPA. In a capitalist society, all funding for government is provided...

Obama’s Class Envy via Bad Numbers

With economic "fairness" the central theme of his re-election campaign, President Obama recently pitched his "Buffett Rule" tax hike to a student audience at Florida Atlantic University in Boca Raton. Aimed at those who earn the bulk of their income from capital...

Obama on Capital Gains: No Winners

“If you make more than $1 million a year, you should not pay less than 30 percent in taxes,” asserted President Obama in his State of the Union speech. For those with predominantly investment income, that would effectively double their capital gains tax...

The "One Percent" We Should Really Fear

There is a great threat to medical care in America from a small group of our fellow citizens. They are not the top one percent of the wealthy, but a group of elitists and their allies who see government power as the means to determine what every American is allowed to...

The 46 Percent –Who Pay No Income Taxes

A flat income tax -- say, 15 percent for all Americans -- is a brilliant idea. Right? No way. The flat tax proposal, in the economy as we know it, evades two very, very important facts. No proposal which evades relevant facts can -- or should -- win. First of all,...

They May Hate Capitalism, But They Sure Love To Loot It

Obama, Gingrich, Perry -- they all hate capitalism, but they sure like the loot it gives them to be the career politicians they are. Where would career politicians be without capitalism? Don’t kid yourselves. The liberal-statist agenda is to raise taxes on the...

It's the Spending, Stupid

Politicians like Mitt Romney and Barack Obama insist that there should be middle class tax cuts. Obama goes further and insists that these tax cuts be paid for by "the rich" (those making over $250,000 a year, his definition). The truth is that everyone is equally...

In Praise of Capitalist Inequality

The Occupy Wall Street protestors claim to want “economic justice.” But real economic justice doesn’t consist of looting others’ wealth, but respecting others’ right to keep what they’ve earned.

The Redistribution of Health

In her famous novel Atlas Shrugged, Ayn Rand identified the absurdity of placing one’s life in the hands of doctors whose lives had been throttled by socialized medicine. Socialized medicine, because of the government monopoly it imposes on both doctors and...

A Truly Fair “Tax”

The proposals by Herman Cain and Rick Perry to streamline the tax system are certainly a step in the right direction. But neither candidate has addressed one crucial point: taxation is theft. If your neighbor broke into your home and took your money, would the purpose...

Cain's 9-9-9 Plan: Raising Taxes on The "Lower Class"?

Some people criticize Herman Cain's 9-9-9 plan for the wrong reasons. Advocates of wealth redistribution complain that it raises taxes on the lower and middle working classes. This is true. Many of them will actually have to start paying some taxes rather than none at...

Herman Cain's 9-9-9-9 Plan

Herman Cain has been gaining much traction with his 9-9-9 Plan, a bold proposal to replace our dysfunctional tax code with what could be a simpler, less invasive, and more economically stimulative alternative. While I don't agree with the full spectrum of Mr. Cain's...

Payroll Tax and Unemployment

Remember when President Obama and his team promised that if only we passed an emergency “stimulus” bill allowing them to wantonly spend $787 billion, unemployment would be capped at 8%? Two years later, having soared as high as 9.8%, July’s unemployment rate stands at...

Tax Cuts Are Not Enough To Save The Economy

The Democratic Party operates on the following assumptions: 1. Social programs such as Medicare and Social Security are entitlements, at least to certain members of the population. They can and must be maintained and expanded at all costs. 2. The best way to finance...

Un-Taxing the Rich

Nick Woomer of the Minnesota Daily (the University of Minnesota student newspaper) writes: Freedom for the vast majority of us means that we should all be entitled to live at a certain level of comfort in spite of how the economy is doing: We should be guaranteed...

Tax Cuts Benefit Economy

"We've never cut taxes in time of war," Sen. Max Baucus, D-Mont., said last week as he voted to halve President Bush's tax-cut proposal. Even if that were true - the Kennedy tax cut, for example, dropped the top marginal rate to 70% from 91% and took effect during the...