tax rates

Do You Understand that Democrats will Destroy America?

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taxCarol Greenwald – I earn my living investing other people’s money in the stock market. I am terrified contemplating how I am going to save my clients’ money, as well as my own, if a Democrat is elected president.

The policies that the Democrats are advocating will destroy the American economy, not just the stock market, but the whole US economy. My first instinct will be to raise cash ahead of the stock market crash, but even that is only a temporary safe harbor.

The Green New Deal, renewed regulations, Medicare for All, free college,  as well as the 70-90% tax rates proposed by Democrats, will tank the stock market and US economic growth, leading to higher unemployment and reduced wage gains. All these programs require higher taxes and not just the soak the rich fantasy of the 70-90% rates. Most of the Democratic candidates have pledged to roll back the 2017 Republican tax cuts that fueled the renewal of economic growth in the US. Continue reading →

When and Why Golden Geese Take Wing

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tax ratesClarice Feldman – My friend Lynn Chu has boiled down the basis for a just, prosperous society:

“It is very easy to spend other people’s money, thus eliminating all of the vital discrimination about the devils in the details which are knowable only at the level of the individual. This is the main justification for the protection of individual liberty against autocracy other than the clarity of the moral imperative of human rights as the privileges and immunities of the individual in society.”

When Great Britain turned over Hong Kong at the expiration of its lease, the Chinese government promised to leave its democratic institutions and law alone. Bit by bit, that promise has been eroded until  recently China pressured the local authorities to agree to an extradition treaty that would allow them to extradite from the former colony and try in China anyone, even someone merely transiting through its airport. Continue reading →

Estonia – 0% Corporate Tax Yet Profiting Why Can’t The US Learn From This?

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“The scarcity mindset reinforces that there’s never enough time, never enough money. And since we can never be sure about the future, we have to ration every last possible resource and grab every bit for ourselves. This ‘scarcity’ mindset pretty much sums up tax policy in most ‘rich’ Western nations.” S Black

EstoniaCapitalTallinn
Estonia – City of Tallinn

Paul Krugman’s Worst Nightmare

Tallinn, Estonia ~  In the absurdly best-selling book The 7 Habits of Highly Effective People, author Stephen Covey wrote about abundance vs. scarcity.

With the abundance mindset, people confidently view the world as full of resources and opportunities… that there’s more than enough to share… and that more success is coming soon.

The opposite is the scarcity mindset, where people view everything as scarce and finite. If you’re winning it’s because I’m losing.

The scarcity mindset reinforces that there’s never enough time, never enough money. And since we can never be sure about the future, we have to ration every last possible resource and grab every bit for ourselves.

This ‘scarcity’ mindset pretty much sums up tax policy in most ‘rich’ Western nations.

In the US, tax revenue as a percentage of GDP has been almost exactly 17.7% of GDP since the end of World War II.

It hasn’t mattered how much they’ve raised tax rates; when tax rates go up, overall tax revenue, i.e. the government’s slice of the GDP pie, stays about the same.

For years they’ve been bleeding cash.

Yet rather than say “How can we support abundance? How can we help set the right conditions to make the PIE bigger,” they punish and intimidate everyone. Continue reading →