Mark and Aracelis Thompson's Blog – May 2009 Archive (3)

As I and others have predicted the Washington politicians are using the fair tax movement to push for a value added tax of 25%. For those not familiar the VAT is a hidden 25% tax on all goods and services that everyone pays. It would be at best neutral and at worst regressive. This tax would be just another tax along with the income and corporate taxes.



Fair Tax folks need to very quickly associate their movement with a constitutional amendment eliminating ALL other federal taxes… Continue

Mises Daily by Thomas J. DiLorenzo | Posted on 5/13/2009 12:00:00 AM



The purpose of government is for those who run it to plunder those who do not. Throughout history, governments have used violence, intimidation, coercion, and mass murder to enforce this system. But governments' first line of "defense" is always a blizzard of lies — about its own alleged benevolence, altruism, heroism, and greatness, along with equally big lies about the "evils" of the civil society, especially the… Continue

By Raymond Richman, Howard Richman, and Jesse Richman On April 21, the International Monetary Fund (IMF) projected (see the World Economic Outlook, pp. 36-37) that the US foreign debt will increase from about 4.5% of world GDP in 2007 to about 9% in 2009. Given that the US foreign debt was 17.7% of US GDP at the end of 2007, this means that our foreign debt will be about 35% of US GDP by the end of this year as shown in the red line on the graph below US foreign debt tends to increase when the… Continue