Free Republic

Recently, I was on vacation in Budapest, Hungary, taking one of those bus trips of the city. Our guide was a young lady, probably mid-20's, who spoke excellent English but had always lived in Budapest. We drove by a major university and she said that a college education was free in Hungary. When we drove past a large city bus stop, she quickly pointed out that it, too, was free. Finally, we drove past a large hospital where I was told that medical care was free. Curious, I asked her what her income tax rate was and she relied that...

In a recent poll for “Axios on HBO,” 55% of American women say they would prefer to live in a socialist country over a capitalist country. This week on “Problematic Women,” we discuss why women are embracing socialism and what can be done to stop this trend. Also, we break down why freshman Rep. Alexandria Ocasio-Cortez says members of Congress, despite already making $174,000 a year, deserve a pay raise. We crown Yale University graduate and future Justice Brett Kavanaugh law clerk Sophia Chua-Rubenfeld Problematic Woman of the Week. And we discuss these topics: — Justice Ruth Bader Ginsburg had...

A Spanish jihadist cell funded itself through tax fraud on chicken, cheese and chocolate sold in Denmark, according to an investigation published Tuesday led by non-profit European newsroom Correctiv. The cell had raised at least €8 million ($9 million) through the scheme since 2005 and spent it sending 24 Moroccans and two Spaniards to Syria, Mali and Libya to fight for the Islamic State group, said online newspaper El Confidencial, a Correctiv member. […] Through contacts with jihadists in Denmark, the group formed ties with 42 mainly Danish firms and managed to put its members or supporters in senior compnay...

It is tariff day in Washington. President Trump will meet with European officials to talk trade tariffs. The meeting is with European Commission President Jean-Claude Juncker. Trump proposed in a tweet, that both sides drop all tariffs, barriers and subsidies. Trump, although doubts the Europeans will go for the idea. The tweet said: "That would finally be called Free Market and Fair Trade! Hope they do it, we are ready - but they won't!"

The Trump administration, at work on a new plan for tax reform, is reportedly considering a plan to cross into one of the most dangerous territories in American politics: fiddling with the Social Security system. According to multiple reports, the administration is entertaining the possibility of eliminating the 12.4 percent payroll tax, which would require it to find a new dedicated funding source for the retirement checks that millions of Americans count on in their old age. The plan, first reported by the Associated Press, would be part of a major overhaul of the tax code that would make the...

Former Treasury Secretary Henry Paulson Jr. is out with his new book, On the Brink, where he details his version of events that occurred on Wall Street and Washington D.C.during the financial crisis while he was Treasury Secretary. All that you really need to know about this fairy tale can be found in the front of the book in what is labeled as "Author's Notes". In this preface, Paulson tells us that he doesn't take notes and doesn't use email and his staff was frustrated because he didn't send out memos, but fortunately, he tells us, he has a very...

On perhaps the defining issue of the 2016 Republican primary, Senator Ted Cruz falls well to the right of Ronald Reagan, who supported granting legal status to millions of undocumented immigrants. He opposes abortion even in cases of rape and incest, and has called for a federal amendment that would allow states to avoid performing or recognizing same-sex marriages. He wants to return to the gold standard, abolish the Internal Revenue Service and create a tax structure simple enough for Americans to file on postcards. He has criticized Donald J. Trump on deportation policy. From the right. Throughout his Senate...

Make no mistake here. Cruz is proposing a VAT add-on to the existing personal income tax system.

Cruz addresses a major reason for our trade deficit. However ... If something confuses people? It invites corruption. A handy rule of thumb in government. Are VATs confusing? Very. ~~~ Even explaining a VAT* is tough because there are many different kinds. Some alleged VATs aren't even VATs according to many. But I'll break it down into two categories: 1. A good VAT. 2. A bad VAT. ~~~ A Good VAT Senator Cruz proposes 'turning the tables' on Europe and other nations which are sneaking money back to corporations which give them jobs. In the nutshell, a good 'VAT' is...

As I understand it, a VAT tax is very different than a national sales tax because it taxes every level of production and distribution. That gives imported products a grossly unfair advantage. ~~~ For example -- the price of a screw. First the ore value is taxed. Then the smelted steel value is taxed. Then the steel distributer is taxed. Then after the screw is made, the value of the screw is screwed again. Then the screw wholesale value is screwed. Then the retail value is screwed again -- the only visible aspect of the tax. The rest of the...

...our model shows more growth from the Rubio and Cruz plans than the Trump plan, even though Trump proposed a larger cut: While Donald Trump largely opted for big rate reductions across the board, Rubio and Cruz made improvements to the structure of taxes, while cutting taxes by less overall. Senators Rubio and Cruz both put thought into the nature of the taxes that businesses pay. They noticed that the current way businesses are asked to calculate taxes creates a bias in the code. When a business builds something new, like, say, a new industrial lathe, that decision actually has...

Most other developed nations already have a VAT -- a system in which taxes are paid by each business in the different stages of production of a good or service, and, ultimately, directly or indirectly, by the consumer. VAT is considered a consumption tax, since it taxes what people consume, rather than how much they earn or their profits from investment. That's also a reason why some consider it unfair for lower-income households. And critics say it could let government take a bigger slice of the overall economic pie, enabling higher spending. Its supporters, meanwhile, say VAT is better for...

Two Republican presidential candidates -- Sens. Ted Cruz, R-Texas, and Rand Paul, R-Ky. -- have proposed replacing much of the federal tax system with a VAT. Cruz's proposed VAT would have a 16 percent tax-inclusive rate, and Paul's proposed VAT would have a 14.5 percent tax-inclusive rate. Both VATs would be administered through the subtraction method rather than the credit invoice method used by most countries with VATs. ... The biggest problem with the Cruz and Paul plans is their pronounced lack of tax transparency. The senators have consistently described their proposed levies as business taxes rather than VATs and...

Tax reform is a key part of reviving our economy so that the 21st century is another American century. That's why Senator Marco Rubio put together a tax reform plan that would generate economic growth, an employment boom, and rising wages for American workers. The Rubio tax plan would make the economy grow twice as fast as it has this century because it would lower taxes on hard-working families, allowing them to take home more of what they earn so they can use it to provide a better future for their children. It would reduce taxes on saving and investment,...

Shortly after Ted Cruz told GOP power brokers that Trump lacked the "judgement" to be president, Kellyanne Conway-- who runs Cruz's Keep the Promise I super PAC– defended RNC plans to strip Trump of the nomination at a brokered convention-- even if he wins the majority of votes and plurality of delegates... KC: No, it's not cheating. ... Chris Matthews: The candidate who gets the plurality of votes-- the most votes...should be the nominee? KC: No, I'd have to look at the math.

Art Laffer, famed member of President Reagan’s Economic Policy Advisory Board, has co-authored, with Stephen Moore, an article for Investor’s Business Daily in which they assert that Rand Paul and Ted Cruz have the “best” tax proposals.

Any flat tax is a great improvement over our current system, so conservatives shouldn’t quibble over details. Here's a no-good-deed-goes unpunished story. Rand Paul has proposed a $2 trillion tax cut over years - arguably the biggest tax reduction in American history. He wants to shave tax rates down to 14.5 percent, the lowest rate since the income tax was introduced a century ago. Ted Cruz has proposed a tax cut nearly as large; his rate is 16 percent. This compares with tax rates that are as high as 42 percent under the current tax code. Both plans would eliminate...

Mainstream outlets from across the world reported the sentencing of rogue Drug Enforcement Agent Carl Mark Force to 78 months in prison this week, and in so doing brought bitcoin's association with illicit activity and the darknet back to the fore. More positive coverage came in the form of the European Court of Justice's bitcoin VAT exemption, with some outlets exploring its effect on the digital currency's rising price. Elsewhere, the creation of a discussion forum by a group of digital currency companies and US law enforcement agencies caused a ripple of excitement among the mainstream press. What else has...

Law of Unintended Consequences: New EU Tax Laws Force Thousands of Businesses to Close in Just Six Months { Full title ]. New European Union tax rules introduced in January have already driven thousands of small companies out of business, with thousands more set to follow as awareness of the change in the VAT law grows. Research has shown that incompetence on the part of collecting agencies has further added misery to the situation. After an eight-year consultation which excluded the voices of micro-businesses, the EU introduced new rules on VAT returns at the beginning of this year, which required...

I’ve always had a soft spot in my heart for Bill Clinton. In part, that’s because economic freedom increased and the burden of government spending was reduced during his time in office. Partisans can argue whether Clinton actually deserves the credit for these good results, but I’m just happy we got better policy. Heck, Clinton was a lot more akin to Reagan that Obama, as this Michael Ramirez cartoon suggests. Moreover, Clinton also has been the source of some very good political humor, some of which you can enjoy here, here, here, here, and here. Most recently, he even made...