"what’s called libertarian in the United States, which is a special U. S. phenomenon, it doesn’t really exist anywhere else — a little bit in England — permits a very high level of authority and domination but in the hands of private power: so private power should be unleashed to do whatever it likes. The assumption is that by some kind of magic, concentrated private power will lead to a more free and just society...
just a call for some of the worst kinds of tyranny, namely unaccountable private tyranny."
Please point out to the senile Noam Chomsky that he is describing democracy, where the 0.001% (the unaccountable private owners of the governments) convince the 99% to tax the 1%, which is really a tax on the 99.999%.
Any inane socialist pigheaded questions?
http://www.armstrongeconomics.com/archives/16385I was in Australia when they were proposing the Luxury Tax. They got the people to vote for higher taxes by lying to them. The slogan was they were going to tax the rich with their “Ferraris, Fur Coats, and French Wines.” Everyone cheered – ya! Get the bastards! When the tax was passed, suddenly the dumb public discovered ALL electrical products were included. You could not buy a clock radio without the Luxury Tax.
People get what they deserve from government – lie, lies, and more lies, and empty pockets to show for it.
http://www.armstrongeconomics.com/archives/35453Governments promised that they would never use E-ZPass [toll booth elimination] technology for speeding tickets, but they lied. A friend received a speeding ticket in the mail from Virginia, stating that they drove through the E-ZPass lane 10 mph above the speed limit. I remain skeptical about government because they are simply not trustworthy.
http://www.armstrongeconomics.com/archives/23950Earn just US$100,000 and you have made it to the hated top 1% that they argue deprive the 99% without exactly explain why it is such people rather than governments.
Taxes have been increasing exponentially and this has reduced new job creation from small business because in many developed countries, savings are still at rock bottom levels after the tax burden. This is just glaringly obvious when we look at Western Europe. The growth since 2007 in the sheer the volume of financial assets that have been accumulated is down by about 50% on average whereas Germany has been hit even harder as wealth has fallen to just 40% of the pre-crisis level. Germans on average now pay more than 50% in taxes and with the pending confiscation of 10% of their asset to bailout banks and an additional 5% tax to bailout the municipal governments, this trend in Germany may wipe out its ability to even create wealth moving into 2032.
Strangely, even with the French-elite socialist inspired IMF proposal to just confiscate 10% of everyone’s bank accounts in Europe, it appears that the majority of people do not pay attention to the financial news. In Europe, bank deposits are still the investment of choice, whereas long-term investments, including equities, are still being avoided as evil and untrustworthy since 2007. This has contributed to the historic low in retail participation in the stock market that is only furthering the gap between the “rich” and the “poor”. Money is just being “parked” rather than invested and this is clearly a major concern for any downturn from here will have even less wealth to provide a cushion for the middle class. Consequently, the next downturn appears to be far worse than anything previously. This is at odds with individuals facing retirement when the governments have unfunded liabilities and keep turning to higher taxes rather than looking at the problem long-term.
The rising disparity between the “rich” no one wishes to actually define and the “poor” who is defined as having less than the “rich”, is impacted by the rising taxation that is also reducing job creation and sending interest in borrowing for investment in Europe to record lows. That trend will hit the US shores starting in 2016.
http://www.armstrongeconomics.com/archives/26331
The socialists love to tout that 1% of the world’s population will own more wealth than the other 99%. From the socialists’ viewpoint, this justifies stealing from one group to give to another, despite this model failing in the past. It is also in clear violation of the Ten Commandments. But why does this trend even happen? Is it that the 1% suppress the 99%? Or could it be that government suppresses the 99%?
The 99% cannot get richer because government robs them every day. What should have been put into savings and investments, was squandered as usual by politicians. So is it the fault of those who actually invest on their own? The socialists want to blame the rich and rob them, handing more and more assets to the political class who waste it on themselves.
The 99% need to wake up. It ain’t the 1% – It is those who pretend to be on your side who deprive you of your real right to economic freedom.
