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How Not to Abolish the Income Tax

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Throughout this country’s history, Americans have always paid taxes of various kinds. But no matter what kind, all taxation is theft. Everyone but a criminal obtains his income voluntarily. He either sells some good or service or he receives some kind of  stipend or gift But as explained by the Austrian economist Murray Rothbard (1926–1995): Only the State obtains its revenue by coercion, by threatening dire penalties should the income not be forthcoming. That coercion is known as “taxation,” although in less regularized epochs it was often known as “tribute.” Taxation is theft, purely and simply, even though it is theft on a grand and colossal scale which no acknowledged criminals could hope to match. It is a compulsory seizure of the property of the State’s inhabitants, or subjects. The income tax This most insidious of taxes is the income tax. As Frank Chodorov (1887–1966) explained in his book The Income Tax: Root of All Evil (1954), the income tax ...

Only a Renewed Belief in Liberty Can End America’s Fiscal Follies

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The Congressional Budget Office’s (CBO) February 2023 report, Budget and Economic Outlook, 2023-2033, documents just how serious the fiscal dilemma is facing the United States. In a nutshell, the federal government’s debt is on a dangerous trajectory, future annual budget deficits are huge as far as the eye can see, and the “entitlement programs” — Social Security and Medicare/Medicaid — are heading toward financial unsustainability. In other words, the chickens are coming home to roost. For decades, the policies of the American interventionist welfare state have been placing the country on a path of economic disaster. Beginning with Franklin D. Roosevelt’s New Deal policies in the 1930s and then reinforced and intensified by Lyndon Johnson’s Great Society agenda in the 1960s, the United States has been on a road of fiscal folly. From limited government to the expanding state Throughout the nineteenth century and the early decades of the twentieth century, the U.S. government was relatively small, fairly nonintrusive, and mostly restrained ...

Dismantle the Cuban Embargo

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Secretary of State Antony Blinken recently visited Vietnam with the aim of establishing closer relations with that country’s regime. According to an article in the Wall Street Journal, “U.S. officials say they are eager to build practical cooperation based on trade and adhering to agreed upon international rules of the road.” Actually, however, all that the U.S. needs to do — and should do — is unilaterally lift all restrictions of the freedom of the American people to trade with others. No “cooperation” between government officials in the U.S. and Vietnam is necessary. In any event, the question naturally arises: Given that U.S. officials are playing nice with Vietnam, why do U.S. officials persist in maintaining their brutal economic embargo against Cuba. Yes, I know, Cuba is ruled by a communist regime, but then so is Vietnam.  In fact, unlike Cuba, Vietnam’s regime killed more than 58,000 American soldiers.