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Libertarian Candidates Pledge: Abolish the Income Tax

in Drugs, Economic Liberty, Elections and Politics, Liberator Online Archives, Libertarian Party, Libertarian Stances on Issues, Libertarianism, Military, Taxes by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 15 of the Liberator Online. Subscribe here!)

Scores of Libertarian Party candidates for federal office have pledged to downsize the Abolish The IRSbloated federal government — in these big and specific ways:

  • Eliminate the federal income tax
  • End the War on Drugs
  • Abolish the NSA
  • Cut military spending by 60%

We’ll be examining those pledges in detail below and in the next few issues, because they show that these bold-sounding proposals are not only possible, but practical and beneficial. (Of course, you can jump ahead and read about all four positions right now.)

First, eliminating the hated federal income tax. The candidates pledge: “If elected, I will sponsor legislation to eliminate the federal income tax, cut federal spending to the 1998 level ($1.65 trillion), and get the IRS off the backs of taxpayers.”

(Yes, that’s right: government has grown so rapidly in recent times that if you cut spending to 1998 levels — the Clinton era of huge government — you could eliminate the federal income tax.)

Here are the benefits of eliminating the income tax, according to the Libertarians:

  • Immediately balances the budget — without raising taxes.
  • Gives back, on average, $11,525 to each American family — every year — that they can invest, save, spend, or give away as they see fit.
  • Pours $1.4 trillion into the productive, private-sector economy, stimulating massive investment in small businesses and creating tens of millions of new private-sector jobs.
  • Stops the devaluation of the dollar and stabilizes prices, preserving American wealth.
  • Forces politicians to eliminate destructive federal programs, regulations, and bureaucracies that do more harm than good. Examples include: stifling business regulations, the prohibition of marijuana, unnecessary foreign wars, and thousands of frivolous projects best left to the private sector (e.g., promoting the Hawaiian Chocolate Festival).
  • Creates a boom in charitable giving. Trillions of dollars back in the hands of American taxpayers enables them to take care of others in need through their churches and private charities, and by giving directly to help friends, family, and community members in need.
  • Eliminates wasteful bookkeeping needed to comply with IRS tax filings and audits, saving Americans 6 billion hours of their precious time and up to $378 billion in accounting costs — every year.
  • Aborts the Democrats’ and Republicans’ plan to add another $5 trillion over the next eight years to the already perilously high $17 trillion federal government debt, sparing future generations from footing a bill they played no part in creating.
  • Frees up billions of dollars for Americans to spend on music, entertainment, crafts, and the arts, enabling talented individuals — now unemployed or working in jobs they don’t like — to do what they love for a living.
  • Forces politicians to eliminate government waste.
  • Stops the growth in the interest due on the federal debt, now at $237 billion per year. This will help minimize this expense if interest rates ever rise, which is likely.
  • Restores America’s reputation as the envy of the world, demonstrating that the American experiment of free, unfettered trade creates prosperity and alleviates poverty. This sets an example for poor countries, helping them rise from hardship to abundance.

 

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VIDEO: It’s Almost Illegal to Start a Business in the U.S.A.

in Economic Liberty, Liberator Online Archives by James W. Harris Comments are off

Believe it or not, in what was once the land of the free, fully one in three Americans must seek and win a government-issued license before they can start a business. No wonder unemployment’s so high!

This funny — and horrifying — animated cartoon from the libertarian Institute for Justice (IJ) brings this important issue to life. Watch prospective entrepreneur Chuck try to start business after business across the country— and get slapped down time and time again by the outrageous maze of unjustifiable laws that stop would-be business owners from getting their ideas off the ground.

And… well, we don’t want to give anything away, but you just won’t believe what happens to poor Chuck in the end. And it’s all true.

The Institute for Justice says one of the principal obstacles to creating new jobs and entrepreneurial activity across the country is the complex web of regulations cities and states impose on small businesses.

IJ has lots of back-up information for this video at their website. Their report “License To Work” is a good place to start.

Share this entertaining and enlightening video with friends. Let them get mad about it too! About 5 minutes.

“House of Cards” Is Alive and Real in Maryland

in Liberator Online Archives by James W. Harris Comments are off

(From the Intellectual Ammunition section in Volume 19, No. 6 of the Liberator Online. Subscribe here!)

And you thought Netflix’s “House of Cards” was just Frank Underwood - House of Cardsfiction. Reports the Washington Post:

“A few weeks before Season 2 of ‘House of Cards’ debuted online, the show’s production company sent Maryland Gov. Martin O’Malley a letter with this warning: Give us millions more dollars in tax credits, or we will ‘break down our stage, sets and offices and set up in another state.’

“A similar letter went to the speaker of the House of Delegates, Michael E. Busch (D-Anne Arundel), whose wife, Cynthia, briefly appeared in an episode of the Netflix series about an unscrupulous politician — played by Kevin Spacey — who manipulates, threatens and kills to achieve revenge and power.”

Wow! You’ve got to wonder if Frank Underwood himself co-signed those letters.

But then the non-fiction bad guys struck back — with an Underwood-style threat to seize the company’s property if they stopped filming.

No kidding. The Maryland House of Delegates quickly drew up and passed legislation requiring the state to use eminent domain to buy or condemn property owned by a film company that has claimed more than $10 million in state tax credits — if said company stops filming. (Wonder if they had anyone specific in mind?)

Cato’s David Boaz sums it up just right: “It’s hard to imagine a better example of rent-seeking, crony capitalism, and conspiracy between the rich, the famous, and the powerful against the unorganized taxpayers. A perfect House of Cards story.”

Unfortunately, zillion-dollar tax money handouts to wealthy film companies are common practice in most states. All in the interest of creating jobs and stimulating the economy, of course.

In case anyone wants to know, the Tax Foundation reports that film tax incentives “are a net loss to states, and there are plenty of studies demonstrating this” and “every independent study has found that film tax credits lose revenue.”

Not that politicians care. Hey, it’s not their money.