Showing posts with label Taxes 2020. Show all posts
Showing posts with label Taxes 2020. Show all posts

Sunday, November 22, 2020

Does Carson Holloway for The Federalist even live in America 2020, torn by $2 billion in damages from rioting and looting?

 From his essay here:

Tocqueville was certainly correct that the dire legacy of slavery would not be eliminated immediately upon its abolition. America’s path toward racial justice was long and difficult, continuing for many decades after the end of the Civil War. Nevertheless, over time the process turned out better than Tocqueville expected. The country was not engulfed in a race war, and whites and black Americans gradually learned to live with each other as fellow citizens.

If you subscribe to ideology qua ideology, you can pretend that what your lyin' eyes are trying to tell you isn't true. And Holloway explicitly embraces the ideological habit of mind which blinds him to our reality:

Moreover, the northern settlers — and particularly the Puritans of New England — came to America not only with the general habits of freedom characteristic of all the English but with a peculiarly intense inclination toward self-government. They came, Tocqueville says, driven by a “purely intellectual craving,” seeking the “triumph of an idea.”

Accordingly, he embraces a sharp, ideological distinction between North and South, which is nothing but a caricature, as if neither love of lucre nor racism existed in the North: 

Tocqueville clearly regards the original southern settlers as less moral and less enlightened than their northern counterparts. The northerners came to America primarily to found self-governing communities based upon their (lofty and demanding) religious vision of a righteous society. The original Virginians came primarily in the pursuit of gain.

You will hardly find in American "conservatism" anywhere any rumination on the founding of the colonies as corporations, entities which were explicitly formed for gain for and by the English Crown in cooperation with the Bank of England. That was the whole point of Samuel Johnson's "Taxation No Tyranny", which ridiculed Americans with "Why do we hear the loudest yelps for freedom from the drivers of Negroes?", which is the main reason why no one reads it. The American colonists broke the business deal with the Crown, violating their contracts. We responded by gussying up our thefts with lofty bs about freedom and equality and rights. French loans, and the French navy, helped us get away with it.

Tocqueville's antipathy toward the South is an artifact of French affinity for the excesses of those Enlightenment ideas which enjoyed a higher traffic in the American North, but also of immemorial French hatred for England which enjoyed free trade with the American South. He is hardly the guide Holloway makes him out to be. 

If there is any commonality left with the French vein in 2020 America, we have seen it in our streets with the violence, destruction, and blood-letting too reminiscent of the excesses of the French Revolution. The difference is that French republicanism sought to literally behead aristocrats, whereas now the rage is explicitly racial, focused on whites.

We have not learned to live with each other as fellow citizens. Cancel culture is everywhere, a euphemism for murder. The triumph of the ideas of BLM will literally mean the death of whitey. 

Any conservatism which pretends otherwise isn't worthy of the name.

Wednesday, October 21, 2020

Stock market performance under Trump has been good in comparison with his predecessors, but best ever remains Eisenhower by far, followed by Truman


The post-war boom was almost inevitable and had little to do with the individual man and his policies. The income tax code's punitive elements at the time drove money into domestic investment, which received favorable tax treatment.

For America to be great like that again we must punish foreign investment and reward domestic. That's what creates jobs for Americans and expands markets for housing, autos and everything else here at home, with the result that companies make money and stocks do well.

But everyone in both parties, it seems, still want everything for themselves, investing abroad where labor is cheaper and regulation lax.

The only person in politics even remotely open to reversing the status quo remains Trump.

Wednesday, September 30, 2020

Idiot caller from Michigan to Rush Limbaugh doesn't know Michigan's already a red state, claims Trump's $750 IRS payments were fees to file an extension when there are no such fees

LOL, when you file for an extension to file your taxes, it's entirely free. There are no fees. If you suspect you will owe taxes, however, you must make the payment at the time.

Crazy Michigan woman thinks she's a tax expert when even the IRS can't seem to decide how to finish its audit of Trump.

The New York Times article says Trump filed extensions to file and made various tax payments. He made payments totaling $5.2 million for the two years in question, 2016 and 2017, $1 million when he filed for an extension in 2016 and $4.2 million when he filed for an extension in 2017. His accountants carved out a nominal tax liability of $750 for each year when actually filing the two returns, on the assumption that the $5.2 million would be construed by the IRS as overpayments pending resolution of the claims made in the returns. Those moneys would then constitute pre-payment carry forwards for future tax years.  

The worst part of this call is that Rush Limbaugh just let this woman's BS out there without questioning it. He's as uninformed about this stuff as the next guy, and won't lift a finger to educate himself. It's irresponsible, but this is the same guy who calls the Minneapolis police "killers".

Rush Limbaugh is a horrible representative of conservatism. 

Today, here:

CALLER: Greetings from Michigan, Rush. We hope to be a red state soon.

RUSH: Yeah, that would be great.

CALLER: That would be great. You know, watching the debate was, you know, made your eyes want to bleed, but Chris Wallace set the pace with that first question about taxes. And don’t tell me he didn’t know that that $750 was the fee for an extension, not what he paid.

RUSH: He might not have known. I don’t know.

CALLER: How? If I know, it was in the news, he is the news —

RUSH: There we go. We’re making the assumption that people in the news business know more than you do. Don’t make that assumption.

Friday, June 12, 2020

The best thing about this Media Matters attack on Glenn Beck from 2010 is the line it draws from King through Sharpton to BLM


'In fact, Sharpton accurately reflected the sentiments of King, who advocated for the “radical redistribution of economic power.” ...

'[A]uthor Nick Kotz writes that during a 1968 trip to Mississippi, King stated: “It didn't cost the nation one penny to integrate lunch counters” and "[i]t didn't cost the nation one penny to guarantee the right to vote." However, he concluded that “now, we are dealing with issues that cannot be solved without the nation spending billions of dollars -- and undergoing a radical redistribution of economic power.”'

King was a commie from the beginning. Beck just wants to pretend otherwise, like many Republican squishes do. It's whitey pretending things aren't that bad.

Sharpton, like King, is a true believer, if not nearly as intelligent: “the dream was not to put one black family in the White House. The dream was to make everything equal in everybody's house.”

Now the thugs of Black Lives Matter make this the number one demand for economic justice:

"Redistribution of wealth through a 'progressive restructuring of tax codes at the local, state, and federal levels.'"

They are out in your streets trying to make that happen.

What are you going to do about it?
 

Sunday, May 17, 2020

Grand total foreign holdings of US Treasury securities in May, 2000-2019

Demand slowed from 2013 as stocks once again got a bid (permanent adoption of Bush tax cuts by Obama and Boehner removed uncertainty), but a flight to safety reappeared in 2019 and 2020. Total was still $6.8 trillion in Mar 2020 even after a big drop from Feb amid currency turmoil, the latest report.

The bid for bonds shows the global economy was already weak last year.