Monthly Archives: September 2011
The Revolt against Rationalism
The most remarkable fact in the history of our age is the revolt against rationalism, economics, and utilitarian social philosophy; it is at the same time a revolt against freedom, democracy, and representative government. It is usual to distinguish within this movement a left wing and a right wing. The distinction is spurious. The proof is that it is impossible to classify in either of these groups the great leaders of the movement.
Was Hegel a man of the Left or of the Right? Both the left-wing and the right-wing Hegelians were undoubtedly correct in referring to Hegel as their master. Was George Sorel a Leftist or a Rightist? Both Lenin and Mussolini were his intellectual disciples. Bismarck is commonly regarded as a reactionary. But his social-security scheme is the acme of present-day progressivism. If Ferdinand Lassalle had not been the son of Jewish parents, the Nazis would call him the first German labor leader and the founder of the German socialist party, one of their greatest men. From the point of view of true liberalism, all the supporters of the conflict doctrine form one homogeneous party.
The main weapon applied by both the right- and the left-wing antiliberals is calling their adversaries names. Rationalism is called superficial and unhistoric. Utilitarianism is branded as a mean system of stockjobber ethics. In the non–Anglo-Saxon countries it is, besides, qualified as a product of British “peddler mentality” and of American “dollar philosophy.” Economics is scorned as “orthodox,” “reactionary,” “economic royalism,” and “Wall Street ideology.”
It is a sad fact that most of our contemporaries are not familiar with economics. All the great issues of present-day political controversies are economic. Even if we were to leave out of account the fundamental problem of capitalism and socialism, we must realize that the topics daily discussed on the political scene can be understood only by means of economic reasoning. But people, even the civic leaders, politicians, and editors, shun any serious occupation with economic studies. They are proud of their ignorance. They are afraid that a familiarity with economics might interfere with the naïve self-confidence and complacency with which they repeat slogans picked up by the way.
Read more from mises.org
Schiff: Operation Twist Will Really Hurt
The Attack on Accidental Americans
When Julie Veilleux discovered she was American, she went to the nearest US embassy to renounce her citizenship. Having lived in Canada since she was a young child, the 48-year-old had no idea she carried the burden of dual citizenship. But the renunciation will not clear away the past ten years of penalties with the Internal Revenue Service (IRS).[1]
Born to American parents living in Canada, Kerry Knoll’s two teenaged daughters had no clue they became dual citizens at birth. (An American parent confers such status on Canadian-born children.[2] ) Now the IRS wants to grab at money they earned in Canada from summer jobs; the girls had hoped to use their RESPs (registered education savings plans) for college.[3]
The IRS is making a worldwide push to squeeze money from Americans living abroad and from anyone who holds dual citizenship, whether they know it or not. It doesn’t matter if the “duals” want US status, have never set foot on US soil, or never conducted business with an American. It doesn’t matter if those targeted owe a single cent to the IRS. Unlike almost every other nation in the world, the United States requires citizens living abroad to file tax forms on the money they do not owe as well as to report foreign bank accounts or holdings such as stocks or RSSPs. The possible penalty for not reporting is $10,000 per “disclosed asset” per year.
Thus, Americans and dual citizens living in Canada (or elsewhere) who do not disclose their local checking account — now labeled by the IRS as “an illegal offshore account” — are liable for fines that stretch back ten years and might amount to $100,000. A family, like the Knolls, in which there are two American parents and two dual-citizen children, might be collectively liable for $400,000.
Approximately 7 million Americans live abroad. According to the IRS, they received upwards of 400,000 tax returns from expatriates last year — a compliance rate of approximately 6 percent. Presumably the compliance of dual-citizen children is far lower. Customs and Immigration is now sharing information with the IRS and, should any of 94 percent expats or their accidentally American offspring set foot on US soil, they are vulnerable to arrest.
. . . .
They can renounce their American citizenship but that is an imperfect solution. For one thing, it does not immunize them from the past ten years of nonreporting. For another, following the United States’ “exit” sign takes many people directly through the Treasury Department where they may be required to pay a brutal one-time exit tax. Basically, for those with more than $2 million dollars in assets, the tax comes to $600,000.
Moreover, renunciation is a difficult process. The Globe and Mail is one of many Canadian newspapers now explaining to readers how they can renounce American citizenship. G&M states,
Renouncing your U.S. citizenship starts with a hefty fee — $450 (U.S.), just for the chance to appear in front of a consular official. Need it done in a hurry? Forget about it. It can take about two years to get an appointment.[9]
The true hope lies in a worldwide refusal to comply. Read more from mises.org
Amish Men Arrested for using Reflective Tape instead of Plastic Triangles
In Kentucky, eight Amish men were sent to jail this week (for 3 to 10 days) over their refusal to comply with a local safety regulation.
According to The Blaze, they say that the mandate, which would require them to post a bright orange triangle on their horse-drawn buggies, violates their modesty code. They use reflective tape instead, but that’s not good enough for local authorities.
Study the look on the faces of these men. It is a look you will likely see more often in America, in corners far from the modest lands of the Amish, decent men being treated as criminals for failing to follow the dictates of the ever more totalitarian state. (Read more from economic policy journal)
TSA pleased with new program which caused 4-hour delay
BOSTON — New security procedures being tested at Logan International Airport caused significant backups at security checkpoints Thursday, according to airlines.
Backups lasted for about four hours after the Transportation Security Administration began testing a procedure that requires more human interaction between security agents and passengers.
. . . .
An airline worker said the lines were the worst he had seen in 30 years, but the TSA said they were pleased with how the pilot program has gone over the last month and in time it will help them decide who needs more screening and who needs less. (Read more from thebostonchannel.com)
French Professor on Greek bailout
From todays Open Europe summary:
In Le Figaro, French Professor Édouard Tétreau argues, “France has already voted two bailout plans for Greece in two years, coming with a cost of more than €30bn – the equivalent of what is raised from income taxes in France in seven months. Who would agree, in our country, to work seven months to subsidise the lifestyle of people who are unable to pay their own taxes? By subsidising this organised robbery, we are not doing Greece, or Europe, a favour.”
Ron Paul Cheated Out of Texas Straw Poll Win?
Ron Paul is riding high again after his California Straw Poll victory yesterday, but some Paul supporters are questioning why the Texas Straw Poll was cancelled for “lack of interest,” and whether it was actually killed because the Congressman would have inflicted an embarrassing defeat on Governor Rick Perry in his own state.
According to a June 16 Washington Times report, the Texas GOP decided to cancel the straw poll, which was held on September 1 last year, because of a “lack of interest expressed by the candidates,” and due to fears that the event would not recoup the financial outlay needed to stage it.
The claim that the poll was cancelled due to “lack of interest” doesn’t correlate with the firestorm of media attention generated by Rick Perry’s announcement of his candidacy, as well as the building momentum of the Paul campaign, which went supernova after the media hoax of attempting to pretend the Congressman doesn’t exist spectacularly imploded last month. (Read more from prisonplanet.com)
Mother Jones goes full Marxist
I’ve had this story in the que for months. It’s incredibly stupid and misinformed.
I was going to write a long rebuttal, but there’s so much of this trash out there, that trying to rebut it all is a full time job.
Have a look if you’re interested.
Here’s the short version: inequality is very small price to pay for liberty and general prosperity.
The Dutch Ask Their Central Bank: “Where Is Our Gold?”
Think Ron Paul is the only person asking questions about the actual gold supposedly backing the currency in circulation. Think again: the “ask your central banker where his gold is” tour just went global after the Dutch the Dutch Socialists Party (SP)’s spokesman for financial affairs, Mr. Ewout Irrgang, asked the Dutch Secretary of the Treasury 10 detailed questions about the gold supposedly held by the Dutch Central Bank. Questions vary from: where is the gold? why are gold and gold receivables one line item? how much gold is loaned out? As Dutch website Vrijspreker.nl points out, “This is potentially a big breakthrough for global awareness on how central banks hide crucial info from the public and the disastrous effects central banks have on society.” Is Belgium next to ask the same question in a vain attempt to understand just how much of its gold is permanently “lent out”? And after Belgium, everyone else with a central bank perhaps?
The Questions:
1 Did the Dutch Central Bank (DNB) loan part of their gold? If yes, how much and to whom?
2 Why are gold and gold loans stated as one line item in the annual report 2010 instead of mentioned as 2 separate items?
3 Can you give an overview of the yearly yields of the gold loans during the past years?
4 Where IS the physical gold of DNB? At which locations and how much is where? What is the reason that the gold is still at these locations?
5 What was the most important reason for DNB to sell the gold in the past? Are the storage costs a reason? What are the actual costs to store the gold?
6 Can you confirm that since 1991 of the 1700 tons of gold about 1100 tons have been sold? Is the remark of journalist Peter de Waard correct that because of these historic sales there is a loss of about 30 billion euro? If not correct, what is the right amount?
7 How much of the National Debt has during the past 20 years been paid off with the proceeds of the gold sales? Are you of opinion that the sustainability of the national debt will be improved by paying off the debt and at the same time selling the gold?
8 What is in your opinion the present function of the gold stock?
9 What is the relation between the size of the market of the gold stock and the size of the market of gold derivates? What are the possible consequences of this?
10 Can you confirm that recently a number of countries have even enlarged their physical gold stock? Do you have an explanation for this development? (Read more from zerohedge.com)
The BBC’s strange understanding of “narrow” support for a Palestinian state
From article:
Across the 19 countries surveyed, 49% backed the proposal while 21% said their government should oppose it.
The Palestinians say they will ask for full membership at the UN this week but the US says it will veto the move.
. . . .
The Palestinians are seeking international recognition of their state based on 1967 borders – the West Bank, including East Jerusalem, and the Gaza Strip.
. . . .
The United States and the Philippines both polled 36% against the resolution. But 45% of Americans and 56% of Filipinos backed recognition.
The lowest level of support was in India, with 32% in favour and 25% opposed, with many undecided.
Support was strongest in Egypt, where 90% were in favour and only 9% opposed.
In other Muslim countries, Turkey recorded 60% support, 19% opposition; Pakistan 52% for, 12 against; and Indonesia 51% for, 16% against.
Chinese were among the most enthusiastic supporters, with 56% in favour and just 9% opposed.
Public opinion in the three large European Union member states included in the poll was strikingly similar on the issue: France (54% support, 20% opposition), Germany (53% v 28%) and the UK (53% v 26%).
Overall, 30% opted for not giving a definite answer as they thought their country should abstain, or “it depends”, or they did not offer a view.
But more than half of Russians and Chileans did not offer a definite opinion.
A total of 20,466 people in 19 countries were interviewed, either face-to-face or by telephone between 3 July and 29 August this year. The margin of error ranges from + or – 2.1% to 3.5%.
So why the hell choose this headline:
BBC poll shows narrow support for Palestinian state
A friend’s perspective on Afghanistan
Ford anti-bailout commercial
I like it!