CNBC reported that the Congressional Budget Office revealed that the top 40 percent of wage earners in America pay 106% of the taxes. What about the bottom 40%? What do they pay? They pay -9%. Yes, that’s a negative in front of that nine. The CBO’s formula accounted for taxes that are paid with “refundable…
Free market libertarian hero Milton Friedman was always the best at explaining economics. His speeches and Free to Choose documentaries have educated millions around the world about how free trade and limited government encourages economic growth and strengthens individual liberty. His position on illegal immigration however is one area where many conservatives part ways with…
The federal government announced that it will sell the last of its stock in General Motors for a loss of around $10.5 billion dollars. The government initially acquired 912 million shares of GM, which at the time was 60.8% of the company in exchange for offering them $49 billion in cash. The government will reportedly recoup…
Investors looking at the future are jittery about what the effect on the markets will be when the Federal Reserve decides to cut back on Quantitative Easing. The stock markets have priced in any possible taper, but the bond markets may throw a temper tantrum. Still, no one really seems to care because the returns…
Dr. Paul’s Economic Rx For Freedom DETROIT, MI – Speaking at the Detroit Economic Club yesterday, Kentucky senator and speculative 2016 presidential candidate Rand Paul unveiled his plan for “economic freedom zones” in US cities across America. Paul recalled former Republican congressman and vice presidential candidate Jack Kemp’s Conservative War on Poverty. These freedom zones,…
Senator Rand Paul (R-KY) is heading to Detroit to propose “economic freedom zones,” which would be “a massive giveback of money that’s already yours.” Paul believes that lowering the taxes in Detroit would be a true stimulus to the economy. He argues the city should reduce the corporate and individual income taxes to 5%, while…
WASHINGTON, D.C. – President Barack Obama has announced a coordinated campaign to rally political allies in order to restore confidence in the Affordable Care Act. The president will be returning to a sales mission in order to increase his quarterly returns of sign ups, and attempt to restore what he calls, “private sector velocity,” to the…
Gregg Easterbrook loves football, but he doesn’t love how taxpayers get the shaft for his beloved sport. He thinks people should know that whether you go to the games or not, you’re paying for it. In an interview with Nick Gillespie at Reason magazine, Easterbrook says, “The [state-supported] University of Maryland charges each…undergraduate $400 a year…
CryptoJunky.com reported that someone received 22 Bitcoins after holding up a sign on ESPN that read “Hi Mom Send (Bitcoins),” where Bitcoins was replaced with the symbol for the digital currency. Bitcoin users reportedly got ahold of the image and using the included QR code sent the lucky young man over $24,000. The exchange rate…
Editor of The Libertarian Republic appeared on Thom Hartmann‘s show to play devil’s advocate, rebutting Pope Francis‘ comments about the “tyranny” of unfettered capitalism. Petersen argued that the Pope may be confused about how the poor are best lifted out of poverty. Petersen cited a study from The Economist which showed that nearly one billion people…