A month or so back I read Thomas McCraw's very informative work, The Founders and Finance. The book essentially paints a picture of the early developments in American finance, particularly as directed by three immigrants (Robert Morris, Alexander Hamilton, and Albert Gallatin). Because there would have been no America (as we know it) without Alexander Hamilton, and because Hamilton's work served as the cornerstone of America's early financial foundation, the bulk of the book centers around … [Read more...]
Defending Phil Mickelson
January 28, 2013 By
This piece does a great basic run-down of how things really work for the wealthy, and how Mickelson essentially keeps 26 cents of every dollar he earns going forward (if he is lucky). Ultimately, many don't care what guys like Phil experience from a tax standpoint - everyone knows he is rich and always will be. But this piece at least gives folks a glimpse at the nature of incentives, and how EVERYONE suffers when productive people are incentivized to not produce. With regards, David L. … [Read more...]
The Most Degrading Piece of Fiscal Cliff Resolution
December 30, 2012 By
My tax rates are going up in 2013 no matter what. They always were going to. Investment rates are going up to some degree; that also was never in doubt (though the extent of the increase remains unknown). Any substantive addressing of government spending was never going to happen in this situation - that hope died on November 6. I am largely bored by the whole fiscal cliff hype, as no one involved has ever cared if they worked it out before or after December 31 (that was a media date). But … [Read more...]
Liberals Don’t Need the Facts to Get in the Way of Their Class Warfare
August 23, 2012 By
The awful 1%. Those richy-rich millionaires and billionaires who do not pay their fair share of taxes. The top 1% of people in our society earn 18% of all national earnings. But they pay 37% of all national taxes. Let's move the needle down a bit, shall we? The top 10% of earners? They pay a measly 70% of national income taxes. People are entitled to their own opinions, but not their own facts. Obama is a liar. The Occupy Wall Street movement is a fraud. The left of today is caught … [Read more...]
Europe’s Problems are Keeping us from Becoming like Europe
July 20, 2012 By
What mystifies me about Obama's claim that "our economy is faltering merely because of these unexpected hiccups in Europe" is that those "hiccups" are exactly what he wants to create here in the states. Can you imagine saying that your prescriptions are not working because we are suffering from the pain caused by someone else using your prescriptions before you did? This is the essence of Barack Obama's logic, and there is no excuse for thinking people to let him get away with it. The … [Read more...]
