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Trump’s Rejection of Socialism is a Conservative Joke

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In his State of the Union Address, President Trump declared: Here, in the United States, we are alarmed by new calls for socialism in our country. America was founded on liberty and independence — and not government coercion, domination and control. We are born free, and we will stay free. Tonight, we renew our resolve that America will never be a socialist country. What a joke. For two reasons. One, America went socialist a long time ago with its welfare-warfare state; and Two, Republicans are as fiercely committed to socialism as Democrats, so long as the socialism is labeled “free enterprise.” This is the game that Republicans and Democrats have played for ages with each other. They act like there are profound philosophical and economic differences between each other, with one party favoring socialism and the other party favoring “capitalism.” In actuality, there isn’t any fundamental difference between Republicans and Democrats. They are flip sides of the same coin. They share the same philosophical mindset, ...

Debts and Deficits are Out of Control

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Understandably, the problems and politics of the moment dominate the news and attract the attention of most policy commentators and much of the public. Will there be another government shutdown, will House Democrats attempt to impeach the president, will interest rates remain low, and will there be a trade war with China? But there are longer-term problems as well, and one of them is the rising U.S. national debt due to annual government budget deficits as far into the future as the eye can see. The Congressional Budget Office (CBO) recently issued its latest “Budget and Economic Outlook” projection, covering the next decade, 2019-29. And it is not a pretty picture. As of the beginning of February 2019, the cumulative federal government debt is approaching $22 trillion. This comes out to a per capita burden of nearly $67,000 for all those residing in the United States, and about $179,500 per U.S. taxpayer. The CBO predicts that between 2019 ...

Hurtling Toward Bankruptcy

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The federal government owes people almost $22 trillion. That means that American taxpayers owe people almost $22 trillion. That’s because the federal government has no money of its own. The money it gets comes entirely from American taxpayers. That’s what the IRS is for — to make certain that everyone sends his required amount of taxes to the federal government to enable it to cover its expenditures. According to usdebtclock.org (which is an Internet spectacle worth looking at), federal tax revenue amounts to around $3.3 trillion. The amount of federal expenditures is over $4.1 trillion. That means that almost another trillion dollars will be added to the government’s debt load, making it $23 trillion. The share of the debt for a U.S. citizen amounts to more than $219,000. For a U.S. family, its share of the debt is more than $856,000. This is what is occurring year after year, thanks to ...

Abolish the Welfare State to Solve the National Debt Crisis

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Why is it so difficult to win the case for freedom in modern American society? A variety of possible answers come to mind. The collectivists are more effective in appealing to people’s emotions. The interventionist-welfare-statist argument is easier to make than it is to follow the logical chains of reasoning required to make the free-market case. Socialist-leaning teachers and ...

Conservatives and Leftists vs. Libertarians on Income Taxation

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A recent exchange between two members of U.S House of Representatives -- Republican Steve Scalise and Democrat Alejandra Ocasio-Cortez — demonstrates perfectly how when it comes to income taxation, there isn’t a dime’s worth of difference between conservatives and leftists. It also demonstrates how libertarians are the only ones who hold the freedom position when it comes to income ...