Posted by taxguru on February 12, 2013
Prophets and Losses – He discusses the incompetence of the Federal Reserve and its chairmen.
Prophets and Losses: Part II – More on the incompetence and policy failures of our supreme rulers in DC.
Some more excellent Random Thoughts from Thomas Sowell, including these:
However emotionally similar envy and resentment may seem, their consequences are often very different. Envy may spur some people to efforts to lift themselves up, while resentment is more likely to spur efforts to tear others down
In the modern welfare state, a vote becomes a license to take what others create — and these others include generations yet unborn.
Can anyone explain why, when someone dies, most of what he has saved up over a lifetime should be turned over to politicians, rather than to his heirs?
People who are forever ready to charge others with “greed” never apply that word to the government. But, if you think the government is never greedy, check out what the government does under the escheat laws and eminent domain.
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Posted by taxguru on July 1, 2012
Economics wizard Thomas Sowell published a four part glossary of commonly used political terms that is excellent. You can reach the full texts with the following links.
Part 1 – Fairness, Racism, Compassion, Greedy, Hungry
Part 2 – Access
Part 3 – Social Justice
Part 4 – Fraudulently named and destructive legislation
As can be expected, I like to focus on the tax related terms, such as the following:
…recently we have heard that the rich don’t pay their “fair share” of taxes. Some of us may want to see a definition of what is “fair.” But a concrete definition would destroy the versatility of the word, which is what makes it so useful politically. If you said, for example, that 46.7 percent of their income — or any other number — is the “fair share” of their income that the rich should have to pay in taxes, then once they paid that amount, there would be no basis for politicians to come back to them for more — and “more” is what “fair share” means in practice.
Compassion & Greedy
…More often than not, in practice it means a willingness to spend the taxpayers’ money in ways that will increase the spender’s chances of getting reelected. If you are skeptical — or, worse yet, critical — of this practice, then you qualify for a different political label: “mean-spirited.” A related political label is “greedy.”…people who want to keep what they have earned are said to be “greedy,” while those who wish to take their earnings from them and give it to others (who will vote for them in return) show “compassion.”
…People who make no provision to feed themselves, but expect others to provide food for them, are those whom politicians and the media refer to as “the hungry.”…if they look to voluntary donations, or money taken from the taxpayers, to provide them with something to eat, then they are “the hungry.”
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