THE IMMINENT PERIL OF FISCAL COLLAPSE.

As Americans focus on survival under COVID-19, they remain largely oblivious to increasingly dire fiscal threats. A “debt monetization” virus (printing money without limit) has been unleashed on us, one that threatens inflation, economic stagnation, and unsustainable debt that will cripple future and present generations. And, if there is a resurgence of COVID-19, the combined wreckage will beContinue reading “THE IMMINENT PERIL OF FISCAL COLLAPSE.”

Taxing Asset Inflation Caused by Debt Monetization: The WMD of Moral Hazards

Since the creation of the United States Income Tax, government and taxpayers have wrangled over definitions of what constitutes “income,” how it is to be calculated, and when it is to be “recognized” — that is, subjected to tax.  A recent New York initiative (predictably backed by Alexandria Ocasio-Cortez) would tax appreciated assets held byContinue reading “Taxing Asset Inflation Caused by Debt Monetization: The WMD of Moral Hazards”

Vermont “Tax Structure Commission” Proposes Sales Taxes for Groceries

A recent bureaucratic “Report” recommends expanding Vermont’s sales tax to include food, groceries, electricity and clothing to… help the poor!  The Vermont Tax Structure Commission (VTSC) argues “broadening the tax base” will be easier for government, and more equitable than current exemptions because sales tax revenues will be redistributed “equitably” to the poor.  Unsurprisingly, theContinue reading “Vermont “Tax Structure Commission” Proposes Sales Taxes for Groceries”