Tag Archives : Class Warfare
Greetings from Bermuda – a Multiracial Paradise Disliked by the Left
My fight for freedom often requires great sacrifice. Last month, I went to Monaco and spoke about financial regulation and bailouts. Today, I’m in Bermuda, where I just gave a speech about tax competition. Both jurisdictions are remarkable places, among the richest places on the planet. And remarkably scenic, as illustrated by this picture I […]
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Seven Reasons to Oppose Higher Taxes
As I have explained elsewhere, tax increases are a bad idea – unless you favor bigger government. And I’ve already added my two cents to the tax debate between Senator Coburn and Grover Norquist regarding the desirability of higher taxes. So it won’t surprise anyone to know that I fully agree with this new video […]
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If We Redistribute Income, Why Not Do the Same for Grades?
I posted a joke about this last year, but this video makes the point much more effectively. When you tax and redistribute income or grades, you penalize those who achieve and work hard. Kudos to the college kids who put this together. The volume sometimes is inadequate, but the overall message comes through loud and […]
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Why Do Rich Left-Wingers Support Class-Warfare Taxes?
Why do some people instinctively despise wealth and want to tear down those who are successful? This question has been percolating in my mind because I am in Monaco to speak to the IXth international conference of the Convention of Independent Financial Advisors. This tiny principality is an amazingly prosperous place, easily the richest jurisdiction […]
read more...Obama Embraces Another Class Warfare Proposal – “Tax the Rich” Is the Universal Cure!
Under current law, Social Security is supposed to be an “earned benefit,” where taxes are akin to insurance premiums that finance retirement benefits for workers. And because there is a cap on retirement benefits, this means there also is a “wage-base cap” on the amount of income that is hit by the payroll tax. For […]
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Obama’s Budget Plan: Class-Warfare Tax Policy and Bureaucrat-Controlled Health Care
President Obama didn’t offer a budget plan yesterday. The White House hasn’t released anything beyond a set of talking points. But that’s not terribly surprising since his speech was really the opening salvo of his 2012 reelection fight. And it’s clear that a central theme of his campaign will be class warfare. But if we […]
read more...Obama’s Tax Increase Trigger: Punishing Taxpayers with Automatic Tax Hikes When Politicians Overspend
Responding to widespread criticism of his AWOL status on the budget fight, President Obama today unveiled a fiscal plan. It already is being criticized for its class warfare approach to tax policy, but the most disturbing feature may be a provision that punishes the American people with higher taxes if politicians overspend. Called a “debt […]
read more...A Victory for the Laffer Curve, a Defeat for England’s Economy
A new study from the Adam Smith Institute in the United Kingdom provides overwhelming evidence that class-warfare tax policy is grossly misguided and self-destructive. The authors examine the likely impact of the 10-percentage point increase in the top income tax rate, which was imposed as an election-year stunt by former Gordon Brown and then kept […]
read more...Instead of Supporting Higher Taxes, Rich Leftists Should Deal with Feelings of Guilt by Giving Their Money to Me
I posted yesterday about the horrible unfairness of life (i.e., I’m not rich). Interestingly, there are a number of rich left-wingers that feel guilty about having a lot of money. In a burst of genius, I came up with an idea that will kill two birds with one stone. They should give their money to […]
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Deconstructing the Revenue Side of Obama’s Budget
I looked yesterday at the spending side of Obama’s budget and found some good news and bad news. The good news was the absence of any big new initiative to expand the burden of government. That’s a welcome relief since the past couple of years have featured budget busting proposals such as the so-called stimulus […]
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