Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Taxpayers in Revolt(taxpayers will either flee or stay, fight, and strike) )
Mises Institute ^ | February 26, 2011 | Doug French

Posted on 03/04/2011 5:24:26 PM PST by sickoflibs

click here to read article


Navigation: use the links below to view more comments.
first 1-2021-40 next last
The Peter Schiff/Austrian Economics ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)

If you realize both parties in Washington think that our money is theirs and you trust them to do the wrong thing, this list is for you.

If you think there is a Santa Claus who is going to get elected in Washington and cut your taxes, spend a few trillion and that will jump-start the economy, this list is not for you.

You can read past posts by clicking on : schifflist , I try to tag all relevant threads with the keyword : schifflist.

Ping list pinged by sickoflibs.

To join the ping list: FReepmail sickoflibs with the subject line add Schifflist.

(Stop getting pings by sending the subject line drop Schifflist.)

The Austrian School’s Commandments plus :From : link

1) You cannot spend your way out of a recession
2) You cannot regulate the economy into oblivion and expect it to function
3) You cannot tax people and businesses to the point of near slavery and expect them to keep producing
4) You cannot create an abundance of money out of thin air without making all that paper worthless
5) The government cannot make up for rising unemployment by just hiring all the out of work people to be bureaucrats or send them unemployment checks forever
6) You cannot live beyond your means indefinitely
7) The economy must actually produce something others are willing to buy
8) Every government bureaucrat should keep the following motto in mind when attempting to influence the economy: “First, do no harm!”
9) Central bank-supported fractional reserve banking is an economically distorting, ethically questionable activity. In particular, no government should ever do anything to save any bank from the full consequences of a bank run, no matter what the short-term consequences.
10) Gold is God’s money.

Add mine:

1) Businesses don't hire workers just because of demand for products or services, they hire because it makes them money. Sorry to have to state the obvious.
2) Government spending without taxing is still redistribution
3) Taking one man's money and giving it to another is not a job.
4) Paul Krugman and Bernake have been wrong about everything, as well as the other best and brightest Keynesian's who have been fixing our economy for over a decade.
5) Republicans in the minority (esp out of the White House) act like Republicans,

1 posted on 03/04/2011 5:24:33 PM PST by sickoflibs
[ Post Reply | Private Reply | View Replies]

To: sickoflibs

My hope is to die owing the IRS as much as possible.


2 posted on 03/04/2011 5:25:55 PM PST by screaminsunshine (34 States)
[ Post Reply | Private Reply | To 1 | View Replies]

To: LMAO; DeaconBenjamin; April Lexington; murphE; RipSawyer; Tunehead54; preacher; 1234; coloradan; ...
The Peter Schiff/Austrian Economics ping. (Washington Bankrupting our Nation by Spending your past, present and future money!)
3 posted on 03/04/2011 5:27:20 PM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
[ Post Reply | Private Reply | To 1 | View Replies]

To: sickoflibs
Tennessee has no State Income Tax, nor does Floriduh. They are managing to get by FAR BETTER than Illinois.

People are going to start voting with their feet, and Arizona and points South are very attractive to escape the Socialists who've destroyed every major city that they control, and every State.

4 posted on 03/04/2011 5:33:28 PM PST by traditional1 ("Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: screaminsunshine
My hope is to die owing the IRS as much as possible.

Leave an "estate" and they'll get it after you're gone. Remember that thing about "death and taxes"?

5 posted on 03/04/2011 5:43:06 PM PST by Graybeard58 (Of course Obama loves his country. The thing is, Sarah loves mine.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: traditional1

The problem is that the leftdolts who caused the problem are moving, too - and recreating the problem here...


6 posted on 03/04/2011 5:48:41 PM PST by piytar (obama is going to stick our troops into a civil war?! FUBO! Can we get this scumbag impeached yet?)
[ Post Reply | Private Reply | To 4 | View Replies]

To: sickoflibs
These bond issuers don't disclose financial information. DPC DATA Inc., a specialist in municipal disclosure, did an extensive analysis of disclosure and found the problem growing since a 2008 study. Of 17,000 bond issues it studied, more than 56 percent filed no financial statements in any given year between 2005 and 2009. More than one-third of borrowers entirely skipped three or more years, and the number grew to 40 percent in 2009, as credit woes mounted. Another 30 percent filed extraordinarily late in 2009.

"This works out to insufficient ongoing disclosure information for more than $2 trillion of the $3 trillion in outstanding bonds," says Peter Schmitt, chief executive of DPC of Fort Lee, New Jersey.

Contrast this with the intrusive and onerous burden government places on private, publicly-held companies to provide detailed information every year to investors, or face serious sanction.

It isn't too much to ask, is it, for governments that issue munis to give financial reports, independently audited and meeting GAAP, for the benefit of their investors? I mean, it's the same thing governments mandate private companies do, "to protect the public interest." Right?

7 posted on 03/04/2011 5:50:51 PM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sickoflibs
jack up the personal income tax from 3 percent to 5 percent.

I'm envious. Here in the People's Republic of Kalifornia, I pay about 9 percent to the state.
8 posted on 03/04/2011 6:00:59 PM PST by Signalman
[ Post Reply | Private Reply | To 1 | View Replies]

To: traditional1
I saw Arthur Laffer on some show a few weeks back. He left Kali for TN a while ago.
9 posted on 03/04/2011 6:05:51 PM PST by Calvin Locke
[ Post Reply | Private Reply | To 4 | View Replies]

To: traditional1
They are managing to get by FAR BETTER than Illinois.

That's because Tennessee has an obnoxious sales tax.

10 posted on 03/04/2011 6:18:56 PM PST by rabscuttle385 (Live Free or Die)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Signalman
RE :”I'm envious. Here in the People's Republic of Kalifornia, I pay about 9 percent to the state

It's not enough. If we can save public sector union jobs you should pay 15%, that is called ‘shared sacrifice’ on MSNBC :)

11 posted on 03/04/2011 6:22:29 PM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
[ Post Reply | Private Reply | To 8 | View Replies]

To: Signalman
...I pay about 9 percent to the state.

Me too. Course it's been 9 percent of nothing for quite some time.

12 posted on 03/04/2011 6:22:36 PM PST by 386wt (Don't buy anymore government.)
[ Post Reply | Private Reply | To 8 | View Replies]

To: sickoflibs

However, California’s state treasurer, Bill Lockyer, says the idea of states going bankrupt is ludicrous.


I have to agree with this statement. A bankruptcy is an organized plan. There will be no organized plan when this happens.


13 posted on 03/04/2011 6:23:04 PM PST by PeterPrinciple ( getting closer to the truth.................)
[ Post Reply | Private Reply | To 1 | View Replies]

To: screaminsunshine

Let us unionize, the TPU, tax payer union, an annual fee for representation.


14 posted on 03/04/2011 6:24:47 PM PST by ronnie raygun (V)
[ Post Reply | Private Reply | To 2 | View Replies]

To: rabscuttle385
"That's because Tennessee has an obnoxious sales tax."

Hmmm....State Sales taxes listed below; hint....one of the states has ZERO Income Tax, to go along with the below-identified State Sales Tax... can you guess which one?

CA 8.25

ILLINOIS 6.25

INDIANA 7.0

NEW JERSEY 7.0

TENNESSEE 7.0

15 posted on 03/04/2011 6:34:01 PM PST by traditional1 ("Don't gotsta worry 'bout no mo'gage, don't gotsta worry 'bout no gas; Obama gonna take care o' me!)
[ Post Reply | Private Reply | To 10 | View Replies]

To: sickoflibs

The last time a US state defaulted on it debt was in 1933, when Arkansas stiffed $146 million worth of bondholders. That time has come again, because taxpayers will either flee — as Jimmy John has — or stay, fight, and strike.

As farmer Setten said, “Politicians only understand the language of bombs and bullets.


So a state has gone broke before....................


16 posted on 03/04/2011 6:34:16 PM PST by PeterPrinciple ( getting closer to the truth.................)
[ Post Reply | Private Reply | To 1 | View Replies]

To: sickoflibs
In Nevada, the University of Nevada at Las Vegas may have to declare financial exigency, the equivalent of bankruptcy. "Our state is nearing a state of fiscal collapse," university president Neal Smatresk told his faculty. The president's message moved many of the faculty members to tears.

Ohh......Booo Hooo!

"Educators" in academia have been sticking it to people for decades. Tuition rates have been going up every year at twice, or even three times, the rate of inflation!

Every year, "educators" give themselves huge pay raises. All we see are more "McStudies" degrees, more "diversity", more two-tier prices (one for whites, one for everyone else), and more liberal indoctrination from every college and university.

I swear, the only colleges and universities these days that seem like they are worth a damn are the Christian ones: Trinity Life, Nyack, Liberty, Wheaton, Regent, New England Bible, John Wesley, etc.

17 posted on 03/04/2011 6:44:33 PM PST by SkyPilot
[ Post Reply | Private Reply | To 1 | View Replies]

To: SkyPilot

...and Hillsdale, I think. I nothing about it personally, but everything I read makes it sound terrific.


18 posted on 03/04/2011 7:25:15 PM PST by ProtectOurFreedom
[ Post Reply | Private Reply | To 17 | View Replies]

To: piytar

They just take their disease from one state they screwed up to another state they try to screw up with the same voting pattern....no cure for stupid....


19 posted on 03/04/2011 8:11:06 PM PST by goat granny
[ Post Reply | Private Reply | To 6 | View Replies]

To: ProtectOurFreedom

Hillsdale does not take any federal money, so the feds cannot tell them what they have to teach...No students that take fed money can get into the school...they are one of the best...


20 posted on 03/04/2011 8:13:58 PM PST by goat granny
[ Post Reply | Private Reply | To 18 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-40 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson