Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Taxes

Low Gas Prices Are Igniting Pushes for Increased Gas Taxes

This article was published by The McAlvany Intelligence Advisor on Monday, February 8, 2016:  

For politicians with insatiable appetites for other peoples’ money, the best time to mulct taxpayers is when they aren’t paying attention. Especially when they are already enjoying savings of an estimated $550 a year in lower gasoline costs.

Most drivers have no clue as to what they pay in taxes when they fill up at the pump. Unless they live in California

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Low Oil Prices Are Tempting Politicians to Raise Gas Taxes

This article appeared online at TheNewAmerican.com on Monday, February 8, 2016:  

The White House announced Thursday that the president would be asking Congress to raise taxes on imported oil by $10 a barrel to be used to fund what the Wall Street Journal describes as “new green transportation projects.” The new taxes to be levied on oil companies will be passed down to motorists who will enjoy the opportunity to help the president fund those new projects by 22 cents per gallon every time they fill up.

The danger isn’t that the president’s bill has any chance in the Republican-controlled Congress, this being an election year and all. What is dangerous is that

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Social Security Inching Its Way Toward Bankruptcy, Says CBO

This article appeared online at TheNewAmerican.com on Monday, January 25, 2016:  

The latest report from the Congressional Budget Office (CBO) on the financial condition of Social Security merely confirms what the Social Security trustees have been saying for years: The welfare-state program that spent nearly a trillion dollars last year isn’t sustainable.

In July Treasury Secretary dazzled the press with his waffle: The program is safe and sound, but it faces problems:

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Robots Transforming China, Causing Heartburn at World Economic Forum

This article appeared online at TheNewAmerican.com on Monday, January 25, 2016:  

Shenzhen Evenwin Precision Technology Company, located in China’s Pearl River Delta (dubbed “The World’s Workshop”), has nearly completed the first stage of turning its plant that produces mobile phone components into one of the world’s first nearly 100-percent robot-operated factories. According to the company’s chairman, Chen Xingai,

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GE’s Move to Boston: Corporate Welfare Through Tax Incentives?

This article appeared online at TheNewAmerican.com on Friday, January 22, 2016:  

In his rejoicing last week over the decision by General Electric (GE) — a company employing more than 300,000 employees and with annual revenues of $150 billion — to move its headquarters from Fairfield, Connecticut, to the South Boston Waterfront, Mayor Marty Walsh claimed that his city had just won the lottery:

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Politics: The Fine Art of Stealing Without Punishment

This article was published by The McAlvany Intelligence Advisor on Wednesday, December 23, 2015:  

English: Al Sharpton at the National Action Ne...

Al Sharpton speaking at the National Action Network American Jobs Act March

Literature abounds with pithy and relevant comments about the underside of politics. Disraeli said: “There is no gambling like politics.” Austin O’Malley said: “A politician is like quicksilver: if you try to put your finger on him, you find nothing under it.” Will Rogers said: “There is no more independence in politics than there is in jail.” Shakespeare said: “A politician [is] one who would circumvent God.”

But perhaps the best of those presently extant is from Max O’Rell:

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How Sweet It Isn’t: Rubio Backs Big Sugar and His Donors

This article appeared online at TheNewAmerican.com on Friday, November 13, 2015:  

So far Marco Rubio has avoided having a debate moderator ask him about his support for Big Sugar, the U.S. sugar program that costs Americans billions of dollars every year either directly in their cereal bowl or indirectly through their income taxes. But he did try to defend himself at a small gathering of Heritage Action earlier this summer, with little success. He stated:

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Federal Deficit at Eight-year Low; Don’t Celebrate Yet

This article appeared online at TheNewAmerican.com on Friday, October 16, 2015:  

On Thursday the Treasury Department announced that the federal deficit for the 2015 fiscal year, which ended September 30, fell to an eight-year low — $439 billion — thanks to tax revenues that grew at a rate faster than government spending. Revenues, according to the department, grew by eight percent over last year while government spending grew by five percent.

Treasury Secretary Jacob Lew celebrated:

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Does California Have a Death Wish?

This article was published by The McAlvany Intelligence Advisor on Thursday, October 8, 2015: 

Cato Institute

A year ago, when the Cato Institute published its Fiscal Policy Report Card on America’s Governors, the best governor, Pat McCrory of North Carolina, scored 78, giving him an “A” rating by Cato. The country’s worst governor, Jerry Brown of California, scored 19, earning him an “F.” His rating was seven full points behind Colorado’s Governor John Hickenlooper, who scored a 26. At the time, Cato said this about Governor Brown:

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Freedom to Choose Includes the Freedom to Move

This article was published by The McAlvany Intelligence Advisor on Friday, September 11, 2015: 

Free to Choose

Milton and Rose Friedman published their work Free to Choose – A Personal Statement 35 years ago when it became a best seller, topping best seller lists for five weeks. Ten years later PBS created a telecast with Dr. Friedman interviewing, and often debating, experts from across the political spectrum, including Walter Williams on the right and Frances Fox Piven on the left.

In the video chapter “The Power of the Market” Friedman makes the point that the free market’s greatest benefit is the power of options: where to live, where to work, whom to marry, how to worship, and on and on.

Walter Wriston, considered by many to be the single most influential commercial banker of his time, serving as chief executive of Citibank from 1967 to 1984, condensed Friedman’s chapter into one pithy quote that reverberates today:

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Study: Businesses, Taxpayers Fleeing High-tax States

This article appeared online at TheNewAmerican.com on Thursday, September 10, 2015: 

Based on the latest data from the Internal Revenue Service, Americans for Tax Reform (ATR) concluded that, given the opportunity, taxpayers as well as businesses move from high-tax states to lower-tax states. In 2013, more than 200,000 people moved from New York, Illinois, California, Connecticut, and Massachusetts to Texas, Florida, South Carolina, North Carolina, and Arizona.

And they took with them more than

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The Ripple Effect of Rising Interest Rates

This article appeared online at TheNewAmerican.com on Wednesday, September 9, 2015:  

With financial talking heads now convinced that the Federal Reserve will finally increase interest rates as a result of the record-setting job openings report, few are asking about the “ripple effect” those increases might mean for individuals, for the auto and the housing industry, for companies and corporations, and, most importantly, for the debt-laden federal government.

If and when the fed announces upcoming interest-rate increases, in the short run, individuals might be tempted to accelerate their buying decision on cars and houses to take advantage of low rates before increases start flowing through to lenders in those sectors. In the longer run,

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Lawsuit by Three Uber Drivers Could Overturn the Gig Economy

On Tuesday a district court judge ruled that a lawsuit brought by three Uber drivers can move forward as a class action lawsuit, potentially involving 160,000 Uber drivers, increasing the chances that Uber will have to start treating them as employees, not as independent contractors. If so, the ramifications would be significant across the nascent but growing “gig” economy, affecting other companies such as Lyft, Airbnb, and TaskRabbit.

Back in March Uber attempted to have the suit tossed, but U.S. District Court Judge Edward Chen said the issues raised were too important not to have them heard in court. At that time Chen said the company’s drivers

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Trickle of Companies Leaving Illinois Turning Into a Flood

This article appeared online at TheNewAmerican.com on Friday, August 14, 2015:  

On Thursday, Hoist Liftruck’s announcement that it was moving more than 500 manufacturing jobs to Indiana was just the latest in a long and almost fevered list of other companies seeking to escape Illinois’ outrageous workers compensation costs and high taxes.

On July 14 machine-maker DE-STA-CO said it was moving 100 jobs to Tennessee. The next day energy processor Bunge North America said it was shutting down its plant in Bradley, Illinois, and laying off 210 workers. The day after that General Mills pulled the plug

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Social Security Disability Trust Fund Could Be Depleted by Late 2016

This article appeared online at TheNewAmerican.com on Thursday, July 23, 2015:  

Every year the language of the trustees of the Social Security system becomes more strident, and every year the managers of the program kick the can further down the road. In its report issued on Wednesday, the Social Security and Medicare Board of Trustees stated that “Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided.” The report noted:

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Is Puerto Rico America’s Greece?

This article appeared online at TheNewAmerican.com on Monday, July 6, 2015: 

After running deficits every year since 1973 and paying for them by borrowing, the U.S. commonwealth of Puerto Rico has finally run out of options. On June 28, the island’s Governor Garcia Padilla admitted that its $73 billion “debt is not payable.… We will [shortly] be in a death spiral.” Padilla added: “There is no other option. I would love to have an easier option. This is not politics, this is math.”

The math is persuasive.

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Greeks Shout “NO!”

This article was published by The McAlvany Intelligence Advisor on Monday, July 6, 2015:  

Greek citizens shouted “No!” to further austerity measures for the hapless country in exchange for more of what got it into trouble in the first place: other people’s money. The lopsided 60-40 vote astonished telephone pollsters, who predicted a much narrower victory for Greek Prime Minister Alexis Tsipras of the far-left Syriza party. Although the issues were far more complicated than the referendum made it appear, the 68-word ballot question made it easy: do you want more increases in taxes, more cuts in pension benefits, another increase in the VAT … or not?  Translated into English, the ballot read:

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More Proof People Are Moving From High Tax States

This article appeared online at TheNewAmerican.com on Friday, June 26, 2015: 

The latest interactive graph from CNBC  shows more people moving from high tax states such as Connecticut, New York, New Jersey and Illinois to lower tax states such as Texas, Tennessee, Colorado, and Arizona. The authors of the latest study reviewed data from United Van Lines and Atlas Van Lines over the last 10 years and concluded that Connecticut was the poster child for out-migration from a high tax state.

For the year 2013, and for the 10 years prior, 55 percent of all moves by these movers took people out of Connecticut. The Nutmeg State levies more than

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OECD Issues Pessimistic Forecast for France

This article appeared online at TheNewAmerican.com on Wednesday, June 24, 2015: 

The OECD — the Organization for Economic Cooperation and Development — put the best face possible on France’s declining economy in its just-released forecast. The report was full of optimism about the future but admitted that the present reality is discouraging. Note the use of words “projected” and “should” in its opening paragraph:

Economic growth is projected to gain momentum in 2015 and 2016. Lower energy prices, improving financial conditions, slowing fiscal consolidation, strengthening external demand and a pro-competitive reform agenda should underpin an increase in consumption and export volumes.

But the reality is far different, said the OECD: 

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CBO Issues Ambiguous Report on Impacts of Repealing ObamaCare

This article first appeared online at TheNewAmerican.com on Monday, June 22, 2015: 

On Friday the Congressional Budget Office, the nonpartisan government agency that is tasked with predicting economic and budgetary impacts of various government programs, issued its analysis of what would happen if ObamaCare (the misnamed Affordable Care Act) were repealed. Its first questionable assumption was that it would be totally repealed effective January 1, 2016.

Its ambiguous, halting, and heavily discounted conclusions served as fodder for the statist media such as CNBC and NBC to warn of huge deficit increases if the socialized medical care program were repealed. NBC headlined a disaster ahead:

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.