ChrisBanescu.com | by Chris Banescu | Feb. 16, 2010

Yet another travesty is unfolding before our eyes in these United States of America. While tens of millions of Americans continue to struggle through difficult economic conditions, with hundreds of thousands more losing their jobs every month, tens of thousands more losing their homes and their businesses, and millions more facing salary cuts and pay freezes, government employees are prospering and getting rewarded financially more than ever.

As the economy struggles, incomes fall, and business bankruptcies and mortgage default rates remain at all time highs, the federal government spending is booming and its employees are enjoying increased hiring and higher salaries. more »

Investor’s Business Daily | John Tamny | March 19, 2009

In his 1942 book, “Capitalism, Socialism and Democracy,” Joseph Schumpeter asked the essential question: “Can capitalism survive?” His unsettling answer was, “No. I do not think it can.”

Schumpeter’s words were in no way meant to denigrate capitalism. Instead, he felt “its very success undermines the social institutions which protect it.” History in many ways proved his views prophetic.

The success of capitalism means that many are allowed to do things that have nothing to do with productivity. And from government and academic elites that frequently seek to undermine the very system that enabled their cushy jobs, to foundations created by capitalist profits that often dismiss same, the commercial success wrought by the pursuit of profit has created an unproductive elite that lives off the very business profits that it regularly casts a skeptical eye on. more »

Townhall.com | Thomas Sowell | Dec. 17, 2008

The current bailout extravaganza is applying the postponement of reality democratically– to the rich as well as the poor, to the irresponsible as well as to the responsible, to the inefficient as well as to the efficient. It is a triumph of the non-judgmental philosophy that we have heard so much about in high-toned circles. [...]

Some of us were raised to believe that reality is inescapable. But that just shows how far behind the times we are. Today, reality is optional. At the very least, it can be postponed. more »

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TaxProf Blog | Paul L. Caron | Mar. 24, 2008

The Tax Foundation has released U.S. States Lead the World in High Corporate Taxes:
Many states impose state corporate income taxes at rates above the national average of 6.6%. Iowa, for example, imposes the highest corporate tax rate of 12%, followed by Pennsylvania’s 9.99% rate and Minnesota’s 9.8% rate.

When added to the federal rate, these states tax their businesses at rates far in excess of all other OECD countries. When compared to other OECD countries… 24 U.S. states have a combined corporate tax rate higher than top-ranked Japan. more »

Human Events | Star Parker | Nov. 2, 2007

The U.S Comptroller General and head of the GAO, Government Accountability Office, has described the entitlements crisis facing this country as a “tsunami” that approaches while we continue to party on the beach.

What GAO head David Walker is talking about are the massive upcoming obligations under Social Security and Medicare that we have no funds to meet. Tens of trillions of dollars of supposed commitments, promises made to us by our government, that today we have no clue how we’ll pay.

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