Taxes

The Netflix Tax | Armstrong Economics

Posted on by johnbarleycorn12

I have warned that once one state taxes something, the idea spreads like a contagion. Illinois and California wanted to tax movies or anything you stream. Now, Georgia is looking at the same thing. This is all part of the economic decline. The states are broke. Their pensions are consuming everything. It is no longer about servicing the people, it is all about exploiting the people to fund themselves. There is no rationale behind this. It is all about needing more to cover this year’s budget. What about next year? They basically simply say they will deal with that when it comes. With every new tax, they simply reduce disposable net income, which in turn lowers living standards. This process is not sustainable. A child with a simple calculator can easily figure out that everything will come crashing down. We have politicians who are career people and have rarely ever been on the side of people. It is beyond comprehension, for the bottom line is always the same. NO POLITICIAN WILL VOTE AGAINST THEIR SELF
— Read on www.armstrongeconomics.com/world-news/taxes/the-netflix-tax/

Brexit & Pi | Armstrong Economics

Posted on by johnbarleycorn12

We are approaching 31.4 months this February from the original Brexit referendum on June 23, 2016.After such a period, the British government’s incompetence is shining through. The EU wants a hard border in Ireland all because they fear that goods could creep from the North to the South without them getting their hands on taxes. Meanwhile, Scotland keeps pushing for a separatist movement because the politicians there are also brainwashed to believe leaving the EU is somehow bad. Yet, most of their trade in the UK represents such a small portion of GDP. If Scotland took such a step, the EU would also demand a hard border for taxes. It always boils down to money for politicians. They can’t help it. Government creates ZERO wealth and are called “public servants” because they live off of the private sector who creates national wealth.
— Read on www.armstrongeconomics.com/international-news/britain/breixt-pi/

The bottom line in this article is the crux of the biscuit. JohnBarleycorn

Having a Government-Granted Monopoly Means Never Having to Say You’re Sorry | Mises Wire

Posted on by johnbarleycorn12

Much of the market observer community recently has wondered why Pacific Gas and Electric’s stock had a sharp valuation increase over the course of a day.
— Read on mises.org/wire/having-government-granted-monopoly-means-never-having-say-youre-sorry

Politicians seem to think they can fix the very problems they create. High taxation runs up the cost of everything including housing. Your property taxes increase, you have taxes on the utilities for your house, insurance goes up with a houses value, and thusly rent goes up. You can only control these market forces by shrinking government and or reducing taxes. JohnBarleycorn

It’s time to tax the super rich – Here is Why I Disagree

Posted on by johnbarleycorn12

It’s time to tax the super rich – UnHerd
— Read on unherd.com/2019/02/its-time-to-tax-the-super-rich/

Taxing the rich sounds great to many people who buy into big government fixes for free market problems. Taxes will benefit politicians with more income to redistribute. Taxes take money and opportunities out of the private sector. The rich can afford to move and take their money with them.

I would eliminate tax loopholes that disproportionately help the Uber wealthy. Government contractors and contracts are not held accountable for cost over runs. An roi needs to be done on all government run or funded programs. Campaign contributions from rich donors and corporations should be banned or capped at a very low level, with no loopholes. The revolving door between holding government office and the corporate, media, defense, tech, any lobbying groups should be stopped.

AOC is probably well intended but she is very new to the game and not aware of the root problems that are systemic.

Stop bringing in thousands of migrants who keep downward pressure and wages. There is a causes and effect correlation here.

Is the Democratic Socialist Party Going After Corporations? | Armstrong Economics

Posted on by johnbarleycorn12

Corporate America will suddenly discover that the Democrats are moving substantially to the left and will do whatever they can to further that goal. The Democrats are becoming the new party of anti-corporation/business. They embrace the misguided ideas of Alexandria Ocasio-Cortez who has been joined by Bernie Sanders and Elizabeth Warren. This new agenda is being endorsed by Senate Majority Leader Chuck Schumer. Schumer would like to outlaw corporations from buying back their own shares unless they pay workers at least $15 an hour, offer paid time off, and health benefits. They try to force the minimum wage higher and act as if companies are the sole source of the problem. Why not eliminate taxation, both state and federal, for people under $15 an hour. Governments never take into account the cost of government itself. You have riots in France when government taxation consumes 46% of total GDP. Schumer has come out and said this is all Trump’s fault because he lowered taxes. So in other words, if Trump never lowered taxes to get companies to bring back money from overseas, then there would not be buybacks. The money would remain overseas instead of being reinvested in America. They buy their own stocks back and the shareholders then reinvest in other companies. They act as if the money vaporizes. They blame Trump for everything as if buybacks just appeared when Trump took office. So where are the fact checkers on this one? Oh, they only fact check Trump. Sorry. Didn’t understand the one-sided new free press rule that allows them to freely report only what they want to.
— Read on www.armstrongeconomics.com/world-news/govt-incompetence/the-democratic-socialist-party-going-after-corporations/

They will go after the corporations that they don’t like. The big pharma, tech, and media giants will get a pass. JohnBarleycorn

UN Admits Paris Accord Will Never Work | Armstrong Economics

Posted on by johnbarleycorn12

The latest on the global warming front is a UN report on the “emissions gap” that admits the Paris Accord would never work. The UN has admitted that the environmentalists have made dire forecasts that assumed whatever trend was in motion would remain in motion. They ignored all other evidence and cycles. Even if every country did 100% of the UN mandates, the Paris agreement will provide only a third of the cuts in greenhouse gas that environmentalists claim are needed to prevent catastrophic warming. The assumption is cycles do not exist and only humans are responsible for everything. They admit that even if every country involved in those accords complied with their pledges between now and 2030, temperatures would still rise by 3 degrees celsius by 2100. The goal of the Paris agreement was to keep the global temperature increase to under 2 degrees. This is the problem when they make such bogus forecasts to try to scare people into their way of thinking. They want to end industrialization, prevent driving, flying, and watching TV because creating electricity is a problem. Kill all the cows and anything else that eat grass (which may include vegetarians) and go back to just hunting and gathering. However, they also want us to eat things raw and not cook because fires also create CO2.
— Read on www.armstrongeconomics.com/world-news/climate/un-admits-paris-accord-will-never-work/

These countries have spent their way into a vortex of debt that can never repaid. Now the politicians are hunting for tax revenue, and a carbon tax is the Trojan Horse. The yellow vest movement in France has figured this out. JohnBarleycorn