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EP:003 : Taxes
Frank and Mike discuss taxes covering the direct easy to see types as well as the super special hidden kind...
Here are the links discussed:
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?DocID=543&Topic2id=30&Topic3id=39
http://en.wikipedia.org/wiki/Money_supply
http://en.wikipedia.org/wiki/Federal_reserve
http://en.wikipedia.org/wiki/Taxes
http://research.stlouisfed.org/fred2/series/BASE
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2 comments:
Great show guys. You started to touch on it but maybe in anther show you can delve into the way gov't controls business via taxes. Anti trust lawsuits, the way they deal with monopolies in general, etc. Or maybe just a show devoted to Atlus Shrugged, heh. Also, more on history of the Fed would be a good topic.
I was listening to this episode while filing for unemployment, halfway through they asked if I wanted taxes taken out of my unemployment check. They are taxing benefit relief. They just upped the weekly rate by $25, wouldn't have been easier just to suspend income tax on unemployment befits?
You mentioned that if they would have just suspending income tax for a year or so, that would definitely get more money moving in this economy, I couldn't agree more.
I'm also curious about your views on Ron Paul, he is the closest thing to a Constitutionalist that holds a high office, how do you guys feel about his policies, especially his foreign relations policies.
Keep up the good work,
Hans
Hi Hans,
Thanks for the comments.
We planned on doing a separate podcast on the Fed specifically since it is so damned convoluted. It probably represents as great a threat to liberty than all the regulations and threat of force put together.
As for Ron Paul, this is Frank, and I can speak only for myself on this - I changed from Independent to Republican to vote for Ron Paul. I said I'd never vote again after 2000, but I just think that Ron Paul has it right.
I've known about Ron Paul for over 10 years. He's been consistent and now, he's proven to have been right.
His foreign policies, while seemingly "isolationist" are correct. I don't think we need to have a military presence all over the world in order to be prosperous. Look at the European countries... They managed to do just fine with their main military presence being the US for many years - and they didn't need that.
What people fail to realize is that there are plenty of ways to prosper. The market sends signals through pricing that indicate scarcity -- and people should adjust when things are scarce. This would have normally driven us to change our dependence on oil as a fuel, which is 70% of our foreign policy, but instead the Fed has worked in conjunction with the people who have interests at stake to keep the status quo. It isn't a conspiracy theory -- it's just simple math.
If they didn't inflate the money supply, we couldn't afford to stay on this path... and I think its no coincidence that they closed the gold window the same year that we supposedly hit "peak oil".
We will definitely do a cast on the Fed after we do this week's (now delayed) episode on the Tea Party Movement.
By the way, check out www.taxdayteaparty.com ! Great site.
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