Paul Krugman was the featured speaker at a special session of the 2004 Southern Economic Association meetings, held the weekend before Thanksgiving, and a number of economists listened intently as the most famous man at the conference spoke religiously about the glories of Keynesian economics.
— Read on mises.org/wire/paul-krugmans-conversion-70-percent-income-tax-0
Drinking the Cortez Commie Cocktail 🍹
The total mismanagement and incompetence of government is just beyond description. The new California Governor Gavin Newsom presented his first state budget during a news conference, last week on January 10th, 2019. While he won bashing Trump over the illegal aliens because he care so much for families, he could care less about how much of a burden the state imposes upon families. His new proposal to tax drinking water will impact everyone – not the rich they always point to. He is claiming to tax water to help the poor afford water. His the newly-released budge calls for the creation of a “safe and affordable drinking water fund” that would “enable the State Water Resources Control Board to assist communities, particularly disadvantaged communities, in paying for the short-term and long-term costs of obtaining access to safe and affordable drinking water.” It’s like labeling the most abusive taking of our rights the “Patriot Act” whenever you need to hide the real abuse. He is calling the tax as suddenly necessary to ensure “safe” water. They paid for a study to show that 6 million Californians rely on water providers that violated state standards at some point in the last six years. The area impacted was Southern San Joaquin Valley and the Mojave Desert. Hey, that’s a great excuse to tax the entire state. Sources behind the curtain have states deeply concerned because they can see we are headed into a recession. This leg down should be harder moving into 2020. The whispers behind the curtain fear that revenues will decline sharply as costs will rise further with pensions for state employees. Nobody is yet willing to step up and say this system is collapsing and it is unsustainable long-term. They are only interested in raising taxes just to get by for the year. Newsom is concerned that revenue could drop $25 billion in 2019-2020. They are simply looking for other excuses to raise taxes. Ironically, California is the fourth-largest oil producing state. Before he left office, former Governor Jerry Brown signed a mandate that the state obtain all of its electricity from zero-carbon sources by 2045. That in itself was a very, very big deal. However, Brown also issued an executive order calling for the entire California economy to become carbon-neutral by 2045. The sheer cost of that where California is already the highest taxed state will most likely push its taxes perhaps even beyond France. This will become a major test for those cheering to stop Climate Change. It was precisely the Global Warming taxes that began the French protests of the Yellow Vests. Those in government NEVER look at what they are doing to society. They believe they possess the Divine Right of Kings to do whatever they please without regard for the people.
— Read on www.armstrongeconomics.com/world-news/taxes/new-governor-of-california-want-to-tax-water/
The hunt for taxes intensifies as social programs are expanded to illegal immigrants.
Bankruptcy Next, PG&E Says. Shares Down 90% in 15 Months. From “Investment Grade” to “Default” in Three Weeks? | Wolf Street
— Read on wolfstreet.com/2019/01/14/bankruptcy-next-pge-says-shares-down-90-in-15-months-from-investment-grade-to-default-in-three-weeks/
No more taxpayer bailouts
COMMENT: Hi, Hunt for taxes is running full scale in Scandinavia. In Sweden, all vehicles including foreign registered vehicles, are obliged to pay congestion taxes in Stockholm and Gothenburg as well as infrastructure charges in Motala and Sundsvall. Sometimes, the automatic camera system reads the license plate falsely and few people in Finland have gotten monthly invoices, even though they or their car never were in Sweden, including some fire trucks that never leave their home town. The payment is usually a few euros but the overdue payment is 500 SEK. The most horrible thing is that, of course, the due date comes so fast that if you don’t want to pay the 500 SEK overdue payment you just pay the invoice and then it is your burden to prove you never were in Sweden. BR JP REPLY: We are witnessing police being converted into tax agents. This is no longer about protecting the public. It is about exploiting the public to fund government pensions. For every person who moves to retirement, the state then hires their replacement. Consequently, the cost of government is growing now exponentially on a global basis and this is the reason why we are undergoing a MAJOR Cycle Inversion in how the markets will react between now and 2032. In Australia, they have been handing out parking tickets in your own driveway. In Australia, there are people who have figured out how to beat all these automated cameras. They clone license plates so other people get the tickets. In the USA, there have been major class actions lawsuits against automated cameras. In Cherry Hill, New Jersey, if you stopped but were 6 inches over the white line, you were still being given a ticket for running a red light. Then people making a right turn on a red were being given tickets for “rolling” rather than coming to a complete halt for at least 5 seconds. Other states are photographing your plate and then send you a ticket for whatever they can find or make up. Failure to have insurance is a popular one even if you have it, they know it is often cheaper to just pay it than spend all day in court. This is no longer about safety or protecting anyone. It is just about raising revenue any way they can pretend to justify it. This is one component that illustrates how Western Society is collapsing. Governments are greedy and only care about raising revenue.
— Read on www.armstrongeconomics.com/world-news/taxes/using-cameras-in-the-hunt-for-taxes/
Just as I pointed out in “The National Debt”, the are trying to tax away their overspending on our backs.
DavosWatch Archive – UnHerd
— Read on unherd.com/davos/
The Yellow Vest Movement in France is turning to an all-out war against Macron. Many are now advocating withdrawing their money from backs in order to topple Macron. Yellow Vest activists ‘Gilets Jaunes’, are now supported by up to 70% of the population. This new effort stepping up their pressure to de-throne President Macron and regain French sovereignty from the hands of the EU elites and globalists is becoming really intense as they call on the people to remove Euros from French banks to destabilize the regime. Now we are witnessing the further spread of the Yellow Vest Movement as Taiwanese demonstrators have also launched their ‘yellow vest’ movement to protest taxes. The Yellow Vest Movement has also now emerged in Lebanon as people there to are calling for “Revolution” to unfold.
— Read on www.armstrongeconomics.com/world-news/taxes/yellow-vests-advocate-taking-money-out-of-banks-in-france-to-topple-macron/
Time for the working class to take back their power from corrupt and self serving politicians.
Alexandria Ocasio-Cortez (AOC) 60 Minutes Interview: Mr Spock finds her “HIGHLY ILLOGICAL” – YouTube
— Read on m.youtube.com/watch
Spooky
After a meltdown about fact-checkers, The Washington Post’s chief fact-checker decided to lay the facts on her.
— Read on www.westernjournal.com/ct/arrogant-ocasio-cortez-trashes-fact-checkers-got-brutally-even-score/
She don’t need no stinking facts🙄
QUESTION: I get up in the morning, make coffee and read your blog. Thank you for your service to humanity. Ok, so the Democrats want to go back to the 1950’s with 70% tax rates. Does that also mean they’ll reinstate the same deductions that were available back then? For example, passive activity loss rules would go away, personal credit card interest, medical expenses, and job expenses would be deductible, companies could deduct meals and entertainment, vehicle expenses, corporate jets etc. Also, there was a tax credit of 10% of the cost of new and used equipment placed in service. It is unfair to look only at the tax rate without looking at how taxable income was calculated. And how about Social Security tax being applied to a few thousand of earned income. M ANSWER: No. They will never put back all the deductions. This is all about raising taxes for their claimed Socialistic Agenda but in fact, as the deficits rise and interest expenditures explode, they will be raising taxes sharply as they always do pretending to be taxing just the super-rich. They NEVER lower taxes on the middle class. They just point to the rich to raise taxes without any benefit to anyone else. Normally, the play games with the definition of the rich. The Trump Taxcut denied deducting what you pay in taxes to a state after 10k. They blame Trump for that yet this has been on their wish list for the past 30 years. If the Democrats get hold of the White House and the Senate, you can bet your life they will not change that deduction. They silently all cheered for that – both Democrats and Republicans. The Definition of the rich has always been classified as “household” income. The burden of student loans preventing the youth from leaving home and buying their own house is wiping out the economy. It has reached a 75-year high coming in at a stunning 40%! The impact of this is the call among Democrats behind the curtain to get the IRS to add all the incomes in a household including the children to push them higher into the category of the “rich” which starts at the $250,000 level – not $10 million. The plan will be to raise the taxes on the rich and the define who are the rich. They will NEVER tell you the truth to your face. This is all part of the decline and fall of Western society.
— Read on www.armstrongeconomics.com/world-news/taxes/raising-taxes-by-redefining-who-are-the-rich/
The hunt for taxes will speed up as the national debt increases.
The Best in uncensored news, information, and analysis
— Read on www.blacklistednews.com/
I bought my Yellow Vest today in support of the protests.
John Barleycorn 
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