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The Agony of the Welfare State, Finnish Style

mises.org / Joseph T. Salerno / September 22, 2017

The title of this post—minus the reference to Finland—is shamelessly copped from a prescient essay that Ludwig von Mises wrote in 1953. In his article Mises pointed out that in Great Britain and Europe, the system of progressive taxation was already confiscating nearly the entire […]

India: The Genie of Lawlessness is out of the Bottle

acting-man.com / Jayant Bhandari / September 20, 2017

Recapitulation (Part XVI, the Last)

Since the announcement of demonetization of Indian currency on 8th November 2016, I have written a large number of articles. The issue is not so much that the Indian Prime Minister, Narendra Modi, is a tyrant and extremely simplistic in […]

Germany & France Want to Tax Gross Sales on the Internet

armstrongeconomics.com / by Martin Armstrong / Sep 15, 2017

The hunt for taxes in France and Germany is in full swing. Merkel and Macrone are looking for endless new sources of tax revenues. They are moving directly into the position of destroying their economies because their thirst for more and more taxes never ends. No […]

New Trump Tactics Help Greenback and Rates

marctomarket.com / by Marc Chandler / September 14, 2017

In the face of much cynicism and pessimism about the outlook for the Trump Administration’s agenda, we have repeatedly pointed out the resilience of the system of checks and balances. Many of the more extreme positions have been tempered, either on their own accord, such […]

US Tax Reform and the Fed

marctomarket.com / by Marc Chandler / August 31, 2017

Yesterday US President Trump formally launched his campaign for tax reform. The Big Six (Mnuchin and Cohn for the administration, McConnell, and Hatch from the Senate and Ryan and Brady from the House) had been meeting and were to craft a reform bill.

Last week […]

Trump Reverts To Populist Roots In “Tax Plan” Speech; Sets Up Congress For Another Epic Fail

zerohedge.com / by Tyler Durden / Aug 30, 2017 2:25 PM

Update: Following Trump’s Springfield, MO speech, Treasury Secratary Steve Mnuchin issued the following statement which, much like the Presidnet’s speech, calls for more jobs, higher wages, higher GDP growth, sugar, spice and everything nice….yet provides absolutely no details on how to accomplish any of […]

Germany Increased Tax Collections 4.3% 1st Half 2017

armstrongeconomics.com / by Martin Armstrong / Aug 30, 2017

The Germany has posted a stunning 4.3% rise in tax revenues during the first half of 2017. I have warned that while the ECB keeps buying government bonds to “stimulate” the economy, they keep trying to sterize the expansion by raising taxes and hunting people […]

US Debt Ceiling, The Wall, Runaway Spending And The Lack Of Evidence Of Concern … So Far (Low US CDS)

wallstreetexaminer.com / by Anthony B Sanders / August 28, 2017

This is a syndicated repost courtesy of Snake Hole Lounge. To view original,click here. Reposted with permission.

The US Statutory Debt Limit, a failed tool to halt the endless growth of Federal debt issuance, is once again in play at nearly $20 trillion. It […]

Greeks Rejoice – Government Scraps Controversial Wine Consumption Tax

zerohedge.com / by Tyler Durden / Aug 28, 2017

While austerity still reigns supreme over Greek society, amid resurgent refugee arrivals, still near-record high youth unemployment, record-high suicide rates, and a constant brain-drain exodus of young talent, this weekend saw a brief silver lining as the government decided to scrap the controversial special consumption […]

US Futures Spike After Gary Cohn Promises Tax Reform By Year End

zerohedge.com / by Tyler Durden / Aug 25, 2017

Having hugged the flatline for much of the overnight session, S&P futures have spiked after the FT released an exclusive interview with Gary Cohn shortly after 5am ET this morning, in which Trump’s chief economic advisor (and most likely future Fed chair) said that […]

Leftists Worry As America’s Tax System Is On The Verge Of Collapse

shtfplan.com / Mac Slavo / August 24th, 2017

The burdensome and regulation filled tax system on those living in the “land of the free” is more than likely on the verge of collapse. The IRS can’t collect enough money, and the government spends too much. But the left is fighting to ensure the government […]

Hartford Bankruptcy Looms As CT Gov Admits “We Spent Money On Wrong Things”

zerohedge.com / by Tyler Durden / Aug 23, 2017

Connecticut Governor Daniel Malloy is among the country’s least popular governors after forcing through two tax hikes that sent individuals and corporations fleeing from the state. Luckily for the state and its people, Malloy apparently has no interest in sticking around to take the heat […]

Why Kansas’s Tax-Cut “Failure” Is Really a Success

schiffgold.com / BY SCHIFFGOLD / AUGUST 23, 2017

During its last session, the Kansas legislature voted to raise taxes. The national media and left-wing politicians immediately began finger-pointing, calling the state’s five-year tax cut experiment an epic failure.

In 2012, Kansas implemented an economic reform package that included a reduction of the top income […]

European Banks – The Next Crisis – The Unseen Cause in Plain View

armstrongeconomics.com / by Martin Armstrong / Aug 22, 2017

The clouds have not lifted from the heart of the financial center within the European Union on the continent. The origin of the next crisis is unseen yet in plain view if you care to look. Ten years since the financial crisis of 2007-2009, […]

Fearful Investors Losing Faith in Trump?

mishtalk.com / Mike “Mish” Shedlock / August 17, 2017

Mainstream media likes to assign a reason for every squiggle in the stock market, bond market, or commodities.

Today provides an amusing example.

Reuters says Washington’s Mounting Woes Push S&P to Biggest Loss in Three Months.

U.S. stocks sold off on Thursday, with the S&P […]

Realtors Warn Of “Another Housing Crash” If Mortgage Tax Deductions Are Scrapped

zerohedge.com / by Tyler Durden / Aug 15, 2017

After failing miserably if their efforts to repeal and replace Obamacare, Republicans are set to shift their legislative agenda to focus on tax reform when they get back from their generous month-long August recess (taxpayers are such great employers). Among other things, proposed changes to […]

Margin Debt Sets Four New Peaks This Year — a Red Flag with a New Twist

wallstreetonparade.com / By Pam Martens and Russ Martens / August 14, 2017

According to the latest data from the New York Stock Exchange, margin debt has hit new peaks four times this year, starting with a new record of $513 billion in January; $528 billion in February; $536.9 billion in March; and reaching a […]

Feeding The Beast: Why Trump and Congress Should Leave The Mortgage Interest Deduction Alone

wallstreetexaminer.com / by Anthony B Sanders / August 14, 2017

This is a syndicated repost courtesy of Snake Hole Lounge. To view original,click here. Reposted with permission.

President Trump and Congress are once again tinkering with the US tax code (rather than just trashing the entire thing and creating something simple like a flat-tax […]

A Flat Tax Is Not More “Efficient” Than a Tax System with Loopholes

mises.org / Per Bylund / August 10, 2017

A frequently repeated claim is that loopholes in the tax code are “inefficient.” A more efficient tax, economists say, is a flat and all-encompassing tax that is inescapable. Why? Because this means no one will waste resources on tax planning and thus tax avoidance. In other […]

Death Spiral: 6.5 Million People Choose To Pay Tax Rather Than Buy Obamacare

zerohedge.com / by Tyler Durden / Aug 9, 2017 6:30 PM

For those who still aren’t convinced that Obamacare is trapped in an inescapable death spiral that will inevitably end in nothing short of an epic collapse of the federal and state health insurance exchanges, perhaps you should consider the following facts from the […]

NYC Mayor de Blasio Readies “Millionaires Tax” To Fix Subway

zerohedge.com / by Tyler Durden / Aug 7, 2017

The New York City’s transportation system is in trouble. Delays have skyrocketed on the century-old subway system, and several recent accidents have raised safety concerns. Joseph J. Lhota, chairman of The Metropolitan Transportation Authority, has called upon the mayor to provide more money to fix […]

Canada Looking to Tax Small Business 93%?

armstrongeconomics.com / by Martin Armstrong / Aug 7, 2017

The Finance Minister of Canada, Bill Morneau, has announced that the government is now targeting private corporations and fundamentally changing the way businesses are taxed. The Canadian government is focusing in on income sprinkling, earning passive investment income in a corporation, and converting a corporation’s […]

Facial Recognition in Street Cameras to Increase Tax Revenues

armstrongeconomics.com / by Martin Armstrong / Aug 4, 2017

Many cities around the world are now introducing facial recognition into their cameras which monitor the streets. In other words, the government will know who and where you are. New York City is introduction this technology. This is by no means about terrorism. It is […]

Letters from India: How Bad Can the Crackdown on Cash and Tax Evasion Get? What’s Next?

mishtalk.com / Mike “Mish” Shedlock / August 1, 2017

Reader “IB” an India businessman, writes about the crackdown on cash and tax evasion by Prime Minister Narendra Modi.

“IB” is very concerned about recent events, as well he should be.

***

Background for this story started on November 8, 2016, when Modi stunned the […]

Corporate/State Screwing Inbound

market-ticker.org / by Karl Denninger / 2017-07-25

This sort of rank corruption should lead to trials, followed by hangings.

But it doesn’t.

Tesla will soon hit the limit of the federal tax rebates, which are good for the first 200,000 EVs sold in the US per manufacturer beginning in December 2009 (IRS explanation). In the […]