Quotes

"Fascism and communism both promise "social welfare," "social justice," and "fairness" to justify authoritarian means and extensive arbitrary and discretionary governmental powers." - F. A. Hayek"

"Life is a Bungling process and in no way educational." in James M. Cain

Jean Giraudoux who first said, “Only the mediocre are always at their best.”

If you have ten thousand regulations, you destroy all respect for the law. Sir Winston Churchill

"summum ius summa iniuria" ("More laws, more injustice.") Cicero

As Christopher Hitchens once put it, “The essence of tyranny is not iron law; it is capricious law.”

"Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it." Ronald Reagan

"Law is where you buy it." Raymond Chandler

"Why did God make so many damn fools and Democrats?" Clarence Day

"If I feel like feeding squirrels to the nuts, this is the place for it." - Cluny Brown

"Oh, pshaw! When yu' can't have what you choose, yu' just choose what you have." Owen Wister "The Virginian"

Oscar Wilde said about the death scene in Little Nell, you would have to have a heart of stone not to laugh.

Thomas More's definition of government as "a conspiracy of rich men procuring their own commodities under the name and title of a commonwealth.” ~ Winston S. Churchill, A History of the English Speaking Peoples

“Laws are like cobwebs, which may catch small flies, but let wasps and hornets break through.” ~ Jonathon Swift

Thursday, August 28, 2014

They Figure Out that The Wealth Comes From and Belongs to the Citizens - On Taxes, Look to Canada

Unlike Obama and too many Democrats who think the Government creates all wealth and owns all money. 
"Obama is our Pierre Trudeau." 
Amity Shlaes, as is her way, is being gracious and generous to Obama. m/r

On Taxes, Look to Canada | National Review Online

By 

The corporate-tax angle is the focus of the headlines on the story of Burger King’s plan to merge with the Canadian chain Tim Hortons. The difference in corporate-tax rates, the United States’s 39.1 percent and Canada’s 26.5 percent, certainly provides reason for Burger King to act. That is what Warren Buffett’s decision to back the inversion transaction makes clear. But the Burger King story reflects something more than a technical tax wedge. It reflects a wedge, or even an abyss, in our two nations’ understanding of the path to future prosperity.
Consider how Canada got that 26.5 percent corporate rate in the first place. In population, Canada is a small country. Many decades ago, the nati–on followed Britain and applied heavy taxes to fund social programs. In the late 1960s, Canada elected a kind of Barack Obama, a politically oriented law professor, Pierre Trudeau, as prime minister. Trudeau advocated a “just society,” which included universal health care and pushed for Canada’s version of multiculturalism: official bilingualism. The economic consequences of this legacy played out not instantly but over the longer run, especially in unemploymentPersistent inflation and heavy debt dogged the nation. My fellow journalist David Frum has comparedTrudeau’s despoilment to “a malicious child on the beach stomping on the sand castle somebody else had worked all morning to build.”
Over the course of a long recovery from Trudeau, Canada realized it had to act to strengthen competitiveness. Competitiveness meant competitive tax rates — all kinds of tax rates. In 2006, a new Conservative government, led by Stephen Harper and finance minister Jim Flaherty, made taxes the centerpiece of its program: “Taxes will go down for all Canadians,” Flaherty said. At that point Canada taxed capital gains heavily, though even then its capital-gains rules did not punish short-term trades, as we do in the States. But in this period, revenues did not flow as the government hoped. So the government cut the capital-gains rate down to an effective 14.5 percent, below the U.S. rate of 15 percent.

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