Tax reform will save American jobs – Even the left-wing USA Today is admitting that the USA’s extremely high corporate tax rates are hurting the economy.

Thomas Sowell’s Random Thoughts –  Another great batch, including the following.

• Not since the days of slavery have there been so many people who feel entitled to what other people have produced as there are in the modern welfare state, whether in Western Europe or on this side of the Atlantic.

• Economist Edward Lazear has cut through all of Barack Obama’s claims about “creating jobs” with one plain and inescapable fact — “there hasn’t been one day during the entire Obama presidency when as many Americans were working as on the day President Bush left office.” Whatever number of jobs were created during the Obama administration, more have been lost.

• Do either Barack Obama or his followers have any idea how many countries during the 20th century set out to “spread the wealth” — and ended up spreading poverty instead? At some point, you have to turn from rhetoric, theories and ideologies to facts.

• If you believe Barack Obama and others who oppose what they call “tax cuts for the rich,” you might want to consider what the late Daniel Patrick Moynihan once said: “You are entitled to your own opinion, but not to your own facts.” If you want to see some documented facts about tax rates and tax revenues, there is a box titled “Tax Cuts” on my web site (www.tsowell.com). Click on it.  (19 page pdf)

• If there is ever a Hall of Fame for confidence men, Charles Ponzi and Bernie Madoff will have to take a back seat to Barack Obama. Obama is the gold standard — or, perhaps more appropriately, the brass standard.

A Modest Proposal –  Walter Williams looks at the mess in the PRC.

A Miracle! 114K New Jobs Employ 450K People! – A funny explanation of how the unemployment percentage can drop when fewer people have jobs. 

Feds file suit against 3 companies over alleged mortgage scam – Just like with the scammers who promise to help settle IRS tax bills for pennies on the dollar, there are crooks willing to exploit homeowners with mortgage problems.

New book shows U.S. top earners pay larger share of taxes than any other industrialized nation –  Stephen Moore’s book illustrating that the evil rich already pay much more than their “Fair Share” of taxes won’t do any good in reducing the class warfare rhetoric from the Left, who never let facts get in the way of their Marxist agenda.

Social Security Needs More Than Just A ‘Tweak,’ Mr. President – The understatement of the past two centuries.

Bankrupt California – A look at the depressing status of the PRC.

CCH has a very interesting free 16 page pdf special report on 2012 year-end tax planning.

Biden acknowledges he, Obama want to raise $1 trillion in taxes on top earners – Every time Joe Bite-Me opens his mouth, he makes the case for a change in White House occupants better than the GOP candidates do.

Abbott and Costello Economics –  Very funny look at how the regime is manipulating the unemployment figures.  Everyone knows that if a Republican were in the White House, the media would be ripping this scam to shreds and reporting that the true unemployment is at Depression levels.

Cheap Politicians –  Thomas Sowell thinks the relatively low pay for our rulers in DC is why those jobs attract such mental lightweights.  This is a little naive.  While the official salaries for our elected rulers are relatively low, it is a fact that most elected officials know how to play the system and are able to become multi-millionaires while in office through such tactics as insider trading (which is legal for them, but not for Martha Stewart) and good old fashioned corruption, such as selling tax breaks for pennies on the dollar.

Trickle Down and Tax Cuts – Walter Williams debunks the myths surrounding Supply Side economics.

Capital Gains Taxes – Thomas Sowell has an interesting definition of what Capital Gains are and why they do deserve special lower tax rates. 

Individual Compelled to Produce Foreign Bank Records Maintained Under Bank Secrecy Act; Required Records Doctrine Overrode Fifth Amendment Privilege – Nothing new about this; but it’s a handy reminder that, when it comes to taxes, the US Constitution is consistently ruled as Null and Void.  This has been the case for decades, long before our current pResident made it fashionable to shred the Constitution for his own power grabs. 

More Calif. cities at risk of bankruptcy – The dominoes continue to fall.

Harry Reid not releasing his own tax returns – The people of Nevada must be so proud of their ultra-corrupt slime-ball Senator, who continues to set new records for sleazy politics.  He does illustrate that there is a wide diversity of morality within the Mormon faith and not all of them are as upstanding as the Romneys are.

Another hilarious Hitler ranting video, with him complaining about the high taxes in California.

House to Vote on Whether or Not to Fire Federal Workers Who Are Tax Delinquent – This makes too much sense to ever become law in the backwards world of DC.  Besides, it would wipe out much of the pResident’s staff and cabinet.

1099-C: The Worst Tax Mess of the Year? –  Very interesting article that is discussed in the latest quarterly newsletter from the Arkansas DFA.