Technically Hong Kong is now part of communist China, yet today it is perhaps the freest and one of the wealthiest places on Earth. One man, Sir John James Cowperthwaite, had everything to do with this.
New York is not the most straightforward place to do business. The politicians of the state have long asserted their “right” to meddle (one way or the other) in the affairs of the private sector. Late night comedy it appears to be no exception.
Some people get on us for pointing out that public employee unions are kind of a JV crony team which costs the taxpayers of this country billions each year. Invariably the people who benefit form unionized government work howl and insist that they are in fact the “good guys.” They are just trying to do their job and to be paid adequately for it. And oh, by the way, don’t touch their pension. We should focus our attention on the evil corporate America.
I am pretty sure the point the creators of this infographic are trying to make is that the bazillionares should “pay their fair share.”
I have a different take.
We often write about people who get into government and then live “rich” thanks to taxpayer money. It happens all the time in a myriad of forms. Meals, travel, conferences, hotels, you name it. Our officials like to live well and this is abuse enough of the taxpayer.
I was recently talking with a friend who happens to be Jewish about aid to Israel. We were discussing Rand Paul and the dance he has to do with the official American Jewish political community on the issue of aid to Israel. Many in the pro-Israel crowd are vehemently against US aid to Israel being cut. They fear that Rand Paul would be open to the idea. For many American Jews this is a huge issue.
Why is it that these sort of programs never seem to help the people for which they are intended? Ever notice that?
The one and only time I met Ron Paul was in his office in DC in 2007. I had long admired him and I had come to pitch Dr. Paul on becoming a client of mine. I was a fledgling stock broker and I thought I might be able to interest him in some gold stocks.
What’s funny is that as soon as I walked through the door of his office and he and I sat down I forgot all about doing business and we just talked politics and strategy for about 20-25 minutes.
I left his office with a deepened respect for the man. Something which rarely happens (I now know) after meeting a politician in person.
Well, there is a good bit of it on this website that’s for sure. And it is growing. Today crony capitalism is talked about openly. A few years ago few people knew the term. Read More
Abeconomics is a Hail Mary throw if there ever was one. Though many will argue otherwise there is a limit to “money printing.” Are we reaching the point where the system just starts eating itself in Japan? Very possible. If an increase in the sales tax meant to help pay for the gigantic Japanese debt does this to the Japanese economy they face a bit of a problem to say the least. Raise taxes, reduce revenue. Looks like Tokyo is way over the Laffer Curve. (And it appears to have done it with a sales tax, not even an income tax increase.) But even getting below the curve by reducing taxes is unlikely to help much because the debt black hole must be financed somehow.