Posts Tagged ‘ taxes ’

Monopoly and empire: Ancient China’s Debate on Salt and Iron

May 2, 2016
posted by

Libertarianism.org Libertarianism.org
by Anthony Comegna  

"Responding to popular calls for lower taxes, Han rulers gradually lowered duties and in their place erected a series of state commodities monopolies. The architects of the new monopoly system erected dozens of iron foundries and salt mines outfitted with the latest technological wonders. Emperors later expanded the system to monopolize copper, bronze, all money production, and elements of the liquor trade. Prices soared alongside government revenues, prompting popular outrage and reformist desires to abolish the monopolies. In 81BC, sixty Confucian 'learned men' convened to debate the Court faction over the wisdom of standing policy. The subsequently-published Debate on Salt and Iron contains valuable ancient commentaries on the hidden costs of Empire, including the health of popular ethics ..." (05/02/16)

http://www.libertarianism.org/columns/monopoly-empire-ancient-chinas-debate-salt-iron  

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Tax Freedom Day

April 25, 2016
posted by

William F Shughart II Independent Institute
by William Shughart  

"According to the Tax Foundation, 'Tax Freedom Day' this year falls on April 24th -- six days after 2015's personal income tax returns were due (on the 18th if you forgot to file). April 24 marks the day on which the average American will have earned enough income to pay his or her total local, state and federal tax bill, which includes payroll taxes, sales taxes, excise taxes, property taxes, corporate income taxes and and taxes on individual incomes. The total bill amounts to $4.9 trillion, of which $3.6 trillion goes to Uncle Sam. Since Americans now spend a bit more than $4 trillion on food, clothing and shelter every year, local, state and federal taxes represent the single largest drain on the typical family's budget." (04/24/16)

http://blog.independent.org/2016/04/24/tax-freedom-day-2016/  

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April 15: A discomforting reminder of the past

April 18, 2016
posted by

Jacob G Hornberger Future of Freedom Foundation
by Jacob G Hornberger  

"When the American people called the federal government into existence, they were fully aware of income taxation as a way to fund it. They rejected it. They did not want this way of life for America -- that is, a way of life in which people would be scrambling to pay their taxes and file their file income tax returns every year, especially out of fear of a[n] agency like the Internal Revenue Service, a tyrannical agency that actually wields and exercises the power to destroy people. In the minds of our ancestors, that way of life wasn't consistent with the fundamental principles of a free society." (04/18/16)

http://fff.org/2016/04/18/april-15-discomforting-reminder-past/  

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“The price we pay for a civilized society,” 2016 edition

April 18, 2016
posted by

Thomas L. Knapp William Lloyd Garrison Center for Libertarian Advocacy Journalism
by Thomas L Knapp  

"Taxation is not, as Oliver Wendell Holmes, Jr. put it, 'the price we pay for a civilized society.' Taxation is theft, pure and simple. It's no different in principle than any other embezzlement scheme or protection racket. If there's a difference at all, it's a difference of manners. Muggers and extortionists are morally superior to government in that at least they don't pretend they're doing this stuff to you for your own good." (04/16/16)

http://thegarrisoncenter.org/archives/5611  

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Theft by any other name still theft

April 17, 2016
posted by

Kent McManigal Clovis News Journal
by Kent McManigal  

"What do you call the act of taking property under threat of doing something unpleasant to any victim who refuses to comply? Obviously it is theft. What do most people call an identical act when committed by government employees? Taxation. Why the hypocrisy? Giving an act a new name doesn't change its nature. Taxation is theft."

http://www.cnjonline.com/2016/04/14/mcmanigal-theft-by-any-other-name-still-theft/  

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Here’s why we’re so in favor of a carbon tax

April 14, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"Because there's sufficient head of steam up that our government, global governments, governments globally, are going to adopt some policy or other over climate change. Even proof perfect that every thermometer on the planet was being steeped in a nice cup of hot tea before being read would not and will not change that. It's thus necessary to argue for the least bad alternatives out there of what that policy is going to be. And that's the carbon tax." (04/14/16)

http://www.adamsmith.org/blog/heres-why-were-so-in-favour-of-a-carbon-tax  

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Withheld taxation is theft, even if it doesn’t feel like it

April 11, 2016
posted by

Jeffrey Tucker Foundation for Economic Education
by Jeffrey A Tucker  

"A friend of mine, who has filed income taxes for the past 15 years, faced an unusual situation this year. Instead of getting a refund like 4 out of 5 taxpayers, she suddenly found herself among the 20% who have to pay more. She had to write a check. Money that might otherwise have gone toward fixing her car, repairing her home, or getting a new smartphone, she is forced to send to the federal government. To be sure, her check only made up a fraction of what she paid in taxes last year. That she was forced to do it at all was the issue." (04/10/16)

https://fee.org/articles/withheld-taxation-is-theft-even-if-it-doesn-t-feel-like-it/  

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Latest US Treasury money grab throws $160 billion merger into doubt

April 5, 2016
posted by

KRDO News    

"Allergan shares are on track to open sharply lower Tuesday after the U.S. Treasury announced new policies that threaten Pfizer's takeover of the Ireland-based Botox maker. The pending $160 billion merger between Pfizer and Allergan is the second-biggest takeover deal of all time, according to Dealogic. The massive deal, announced in November, would see New York-based Pfizer shift its headquarters to Ireland, a move that could reduce its tax bill. The structure is emblematic of the 'tax inversion' deals that have become popular in recent years. Treasury rules announced Monday will clamp down on companies that try to reduce their tax bills by merging with foreign firms." (04/05/16)

http://www.krdo.com/news/economy-tracker/treasury-rules-throw-160-billion-merger-into-doubt/38871832  

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Wal-Mart wins suit against Puerto Rico; tax declared invalid

March 29, 2016
posted by

ABC News ABC News    

"Retail giant Walmart won a legal victory Monday in a fight over taxation by Puerto Rico's government. A federal judge in the U.S. island territory ruled that a modified tangible-property tax is invalid. The ruling was issued as Puerto Rico's government rushes to find new sources of revenue and a debt restructuring mechanism from the U.S. Congress while struggling through a decade-long economic crisis." (03/28/16)

http://abcnews.go.com/International/wireStory/walmart-wins-suit-puerto-rico-tax-declared-invalid-37986771  

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What “taxes” are (and aren’t) under the Constitution and the implications for ObamaCare

March 28, 2016
posted by

Rob Natelson Tenth Amendment Center
by Rob Natelson  

"The Constitution imposed two limits on state financial exactions: (1) a requirement of congressional consent before a state could 'lay any Duty of Tonnage' and (2) with one exception, a like requirement before a state could 'lay any Imposts or Duties on Imports or Exports.' The Constitution also authorized Congress to impose financial exactions. The Taxation Clause empowered Congress to 'lay and collect Taxes, Duties, Imposts and Excises.' The Commerce Clause empowered Congress to 'regulate Commerce with foreign Nations, and among the several States, and with the Indian Tribes.' During the founding era, commercial regulation was understood to entail financial impositions." (03/27/16)

http://tenthamendmentcenter.com/2016/03/27/what-taxes-are-and-arent-under-the-constitution-and-the-implications-for-obamacare/  

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Yes, Virginia, taxation is theft

March 28, 2016
posted by

Darryl W Perry Free Press Publications
by Darryl W Perry  

"Even though over half of Americans do provide money to the federal government it is not accurate to say they 'pay' taxes. Certainly, you could say people pay taxes though you would also need to say that someone being mugged is paying the mugger. Some will argue that governments provide services and the taxpayers are simply paying for those services. That, too, is a flawed argument since most of the so-called services are being provided without consideration of whether or not anyone actually wants the service provided by a government. This would be akin to someone mowing your lawn and pruning your hedges, without your prior consent, and then demanding payment." [text, Flash audio or MP3] (03/27/16)

http://fpp.cc/yes-virginia-taxation-is-theft/  

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Give us more tax revenue, or else

March 24, 2016
posted by

Ludwig von Mises Institute Ludwig von Mises Institute
by Matthew Doarnberger  

"The budget crisis in Louisiana is so bad that it apparently threatens the upcoming college football season. This is according to the state's new Democratic governor John Bel Edwards. The current yearly budget deficit has reached $940 million. The situation is so dire that higher education in the state faces the realistic possibility of running out of money and taking college sports with it. ... Upon closer inspection of Louisiana's state budget, one can see that a major culprit for the deficit has been corporate giveaways. Under former governor Bobby Jindal's predecessor, money given to the six largest recipients of government subsidies totaled $200 million. But under Jindal, that amount grew to $1 billion. Combine this with the state's 400 other handouts, plus the raiding of rainy day funds to cover shortfalls and you have a recipe for a budget disaster. So in order to put Louisiana's fiscal house back in order, Governor Edwards has proposed one of the largest tax increases in state history." (03/24/16)

https://mises.org/library/give-us-more-tax-revenue-or-else  

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Osborne’s disastrous sugar tax decision in the budget

March 17, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"It’s not that taxing sugar is a particularly bad thing to do. There’s other nice and desirable things that we tax like booze and insurance. Hey, got to get the revenue where you can. Rather, what worries us is the monumental mountain of lies that the campaign for this tax has been built upon. Sugar consumption has been falling in recent decades even as the country gets ever porkier. It is therefore not sugar consumption driving the fact that we’re all becoming lardbuckets. If that is so the tax won’t achieve the stated goal." (03/17/16)

http://www.adamsmith.org/blog/healthcare/osbornes-disastrous-sugar-tax-decision-in-the-budget/  

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EU antitrust parasites want more info on Apples Irish tax deal

March 17, 2016
posted by

Jakarta Globe [Indonesia]    

"European Union antitrust regulators have asked Ireland to provide further details on the country's tax deal with Apple before deciding whether this constitutes illegal state aid to the iPhone maker. The European Commission, which has been investigating the Apple deal for more than two years, said on Wednesday (16/03) that Irish authorities had not responded fully to an earlier query. ... The EU competition enforcer in 2014 accused Ireland of swerving international tax rules by letting Apple shelter profits worth tens of billions of dollars from revenue collectors in return for maintaining jobs. Apple's vice-president of its European operations, Cathy Kearney, told a European Parliament hearing on Tuesday that the company had paid every cent of its [sic] taxes in Ireland." (03/17/16)

http://jakartaglobe.beritasatu.com/international/eu-regulators-want-info-apples-irish-tax-deal/  

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Tax scams and official scams

March 16, 2016
posted by

Reformed Libertarian
by C Jay Engel  

"Watch out kids! There's a new tax scam in town. According to the MarketWatch PSA, there's some scammers out there who are –- get this -– pretending to be the Real Deal, the ones in society who have the State's permission to take our money. It's always amusing, in a twisted way, to see one set of thieving plunders warn the masses of the other. Reminds me of that sticker Ron Paul had in his Congressional Office: 'Don't steal, the government hates competition.' More seriously, it's amazing the extent to which the state has infected the minds of its victims such that all that it does is considered within the bounds of moral legitimacy." (03/15/16)

http://reformedlibertarian.com/blog/tax-scams-and-official-scams/  

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UK: Osborne cuts company tax, targets sugar as growth slows

March 16, 2016
posted by

Bloomberg    

"Chancellor of the Exchequer George Osborne announced a further cut in the main rate of company tax and put a levy on sugary drinks as he warned the U.K. economy will grow less quickly in each of the next five years than previously forecast. In his annual budget speech to the House of Commons, Osborne said corporation tax will be lowered to 17 percent by 2020 from 20 percent now. ... Osborne set out plans for a tax on companies producing and importing sugar-sweetened drinks as part of a drive to cut childhood obesity. The levy will raise 520 million pounds, the chancellor said, which will be used to double the amount of cash invested in sport in elementary schools." (03/16/16)

http://www.bloomberg.com/news/articles/2016-03-16/u-k-growth-forecasts-cut-amid-more-austerity-osborne-says  

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Tax havens aren’t quite the problem many seem to think

March 16, 2016
posted by

Tim Worstall Adam Smith Institute
by Tim Worstall  

"Yet another report from Oxfam shouting about the iniquities of inequality, the way in which tax havens rob governments of their rightful dues and ... .well, you get the story, you've heard it screamed at you often enough. But the real point to pick up from this is how unimportant that issue of tax havens actually is .... £120 billion certainly sounds like a lot of money. But is it actually? In comparison to what? The global economy is around $70 trillion, global tax revenues are some $23 trillion. Being generous with exchange rates we might say that the tax dodging (not that we accept the sum itself but let's work with what we're being given) is 1% of government budgets. So, who thinks that the world would be just peachy if governments had another 1% of revenue? How many problems does anyone really think this will solve? No, serious question." (03/15/16)

http://www.adamsmith.org/blog/tax-spending/tax-havens-arent-quite-the-problem-many-seem-to-think/  

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Poor Americans will be stuck with the tab for Bernie Sanders’s generous promises

March 15, 2016
posted by

JD Tuccille Reason
by JD Tuccille  

"Self-described socialist presidential hopeful Bernie Sanders wants to fund generous promises of cool stuff for everybody with equally impressive taxes that would soak ... everybody. Increasing the size of the federal government by upwards of 50 percent doesn't come cheap -- the Tax Policy Center estimates that Sanders'[s] proposed tax hikes would cost $15.3 trillion over the first decade 'thereby lowering average after-tax income by 12.4 percent.' As befits a socialist, Sanders intends to soak the rich .... But researchers find that people who are more likely to succeed economically are also more likely to dodge taxes. And targeting them specifically increases the likelihood that they'll hide their money from the authorities. No matter what he intends, Sanders' proposed tax hike looks destined to fall most heavily on those who can least afford to pay the tab for his promised goodies." (03/15/16)

http://reason.com/archives/2016/03/15/poor-americans-will-be-stuck-with-the-ta  

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Why shouldn’t corporations flee high-tax countries, including America?

March 14, 2016
posted by

Doug Bandow Foundation for Economic Education
by Doug Bandow  

"Every day in Congress, it seems, a member who created a problem demands more power and money to 'solve' the resulting crisis. So it is with 'tax inversions,' by which companies change their tax domicile -- their country of residence, for tax purposes -- to escape Washington's clutches. Doing so deprives Uncle Sam of money to waste, which naturally drives politicians into a frenzy. ... High tax rates help politicians, not the country. An old-fashioned highwayman grabbed your money and went on his way. Uncle Sam seizes your cash and then uses it to boss you around in the name of helping you and everyone else. Moreover, higher corporate rates directly reduce business investment and indirectly cut consumer spending, thereby slowing job creation and economic growth." (03/14/16)

https://fee.org/articles/why-shouldn-t-corporations-flee-high-tax-countries-including-america/  

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Soda taxes morally, ethically bankrupt

March 8, 2016
posted by

William F Shughart II Independent Institute
by William F Shughart II  

"Shortsighted economic proposals become law every day, so the Davis City Council's rejection of a soda tax is a welcome respite from normal legislative blundering. In voting against placing a soda-tax initiative on the June ballot, the council has kept the nanny state’s nose out of the lives of its citizens. Bills to tax sugary soft drinks and require health-warning labels likewise have died or stalled in the state Legislature. Ultimately, taxing soda drinkers is ineffective, regressive and, most importantly, discriminatory." (03/07/16)

http://www.independent.org/newsroom/article.asp?id=8701  

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Tax ethics

March 6, 2016
posted by

Independent Country
by James Leroy Wilson  

"A recent conversation reminded me of the desire of people to grasp at anything to feel they're morally superior to people who make more money than they do. The topic was rich people who find ways to minimize their tax payments. I'm still trying to grasp their moral condemnation." (03/05/16)

http://independentcountry.blogspot.com/2016/03/tax-ethics.html  

1 Comment »

Why taxes and snooker rules are not that different

February 1, 2016
posted by

Adam Smith Institute Adam Smith Institute
by James Knight  

"Pretty much anyone with even the sketchiest understanding of economics knows that a competitive market is the mother of all driving forces for efficiency. In fact, Kenneth Arrow and Gerard Debreu have a mathematical proof called the Arrow–Debreu model which shows that if the conditions are propitious in terms of a competitive free market there will be a general equilibrium between total supplies and total demands reflected in a set of prices. Obviously there are all sorts of reasons why the reality isn't the case, and that's largely due to all the ways in which politicians interfere with the natural mechanisms of prices (taxes and price controls are two prime examples)." (02/01/16)

http://www.adamsmith.org/blog/tax-spending/why-taxes-and-snooker-rules-are-not-that-different/  

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Reject the Trump tax

January 27, 2016
posted by

Gary Chartier Center for a Stateless Society
by Gary Chartier  

"Donald Trump says he wants to impose a 45% tax on goods imported from China. Trump's proposed tax would interfere with people's freedom. It would be discriminatory. It would injure American consumers. And it would hurt the poor here and in China. It's no surprise to find the developer, reality TV star, and GOP presidential candidate urging measures that would benefit well connected businesses at the expense of ordinary people. Trump's own history of collusion with the government -- notoriously, he's used eminent domain to steal property from private owners when he wants it for his projects -- highlights his willingness to use state power to give corporations what they want. The costs don't seem to bother him. But they should bother us." (01/25/16)

https://c4ss.org/content/43018  

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Can we use tax data to measure living standards? Part 2

January 19, 2016
posted by

Notes On Liberty
by Vincent Geloso  

"Yesterday, my post on the differences in per capita income and total income per tax unit caused some friends to be puzzled by my results. To their credit, the point can be defended that tax units are not the same as households and the number of tax units may have increased faster than population (example: a father in 1920 filled one tax unit even though his household had six members, but with more single households in the 1960s onwards the number of tax units could rise faster than population for a time). The problems regarding the use of tax units instead of households is not new." (01/19/16)

http://notesonliberty.com/2016/01/19/can-we-use-tax-data-to-measure-living-standards-part-2/  

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Can we use tax units to measure living standards?

January 19, 2016
posted by

Notes On Liberty
by Vincent Geloso  

"In the debate on inequality, I am a skeptic of how large a problem the issue is. Personally, I tend to believe that worries of inequality only increase when growth is stagnant. In fact, I also believe that there are numerous statistical biases causing us to misidentify stagnation as rising inequality. Most of the debate on inequality is plagued with statistical problems of daunting magnitudes (regional convergence in income, regional price levels, demographic changes, increasing heterogeneity of preferences, increasing heterogeneity of personal characteristics, income not being purely monetary, the role of taxes and transfers etc.) One of them centers around the use of tax data." (01/18/16)

http://notesonliberty.com/2016/01/18/can-we-use-tax-units-to-measure-living-standards/  

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