Apr 29, 2012

Murray Rothbard on how to treat politicians

But if taxation is robbery, then it follows as the night the day that those people who engage in, and live off, robbery are a gang of thieves.  Hence the government is a group of thieves, and deserves, morally, aesthetically, and philosophically, to be treated exactly as a group of less socially respectable ruffians would be treated.

~ Murray Rothbard

Apr 24, 2012

David Einhorn on income inequality

Ending the jelly-donut monetary policy [sugar high from ZIRP] would do more to alleviate income inequality than any of the widely debated changes in the tax code.  For the super wealthy, zero rates supported by a Bernanke put on the bond market encourage outsize income through leveraged speculation.  For everyone else, zero rates reduce the standard of living because greater food and energy costs soak up income.

~ David Einhorn, Spring Grant's Conference, 2012, as reported in April 20, 2012 issue of Grant's Interest Rate Observer, "Dollars to donuts"

Apr 18, 2012

Oscar Ameringer on politics

Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.

~ Oscar Ameringer, "the Mark Twain of socialism," (1870-1943)

Apr 15, 2012

Ryan Detrick (Schaefer's): More reasons to be bullish than bearish

There are definitely concerns out there, and we can't simply ignore them. A slowdown in China or more issues in Europe could put a major stop to the bull market, but overall, we continue to feel there are still more reasons to be bullish than bearish for longer-term investors. In the near term, some continuation of the recently choppy price action could occur -- but eventually, that will give way to higher prices, as the dour outlooks on the economy and stock market will once again be proven too gloomy.

~ Ryan Detrick, Schaefer's Investment Research, "Monday Morning Outlook," April 13, 2012

Apr 10, 2012

Thomas Jefferson on the tyranny of taxes

To compel a man to furnish contributions of money for the propagation of opinions which he disbelieves and abhors, is sinful and tyrannical.

~ Thomas Jefferson