Businesses Exit Taxifornia in Droves – Mike Shedlock – Townhall Finance Conservative Columnists and Financial Commentary – Page 1

California Tax Revenue Plunges

Inquiring minds have noticed a huge plunge in California Tax Revenue for the month of February compared to February 2011.

The numbers below represent a 22.55% plunge in spite of the fact that this February was a leap year adding a day to the calendar.

Madeline Schnapp, at TrimTabs Investment Research sent me a quick note regarding that plunge a few days ago.

California Tax Revenue Plunges

Inquiring minds have noticed a huge plunge in California Tax Revenue for the month of February compared to February 2011.

The numbers below represent a 22.55% plunge in spite of the fact that this February was a leap year adding a day to the calendar.

Madeline Schnapp, at TrimTabs Investment Research sent me a quick note regarding that plunge a few days ago.

via Businesses Exit Taxifornia in Droves – Mike Shedlock – Townhall Finance Conservative Columnists and Financial Commentary – Page 1.

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The ‘Fairness’ Fraud – Page 1

The ‘Fairness’ Fraud – Page 1

flicker

During a recent Fox News Channel debate about the Obama administration’s tax policies, Democrat Bob Beckel raised the issue of “fairness.”

He pointed out that a child born to a poor woman in the Bronx enters the world with far worse prospects than a child born to an affluent couple in Connecticut.

No one can deny that. The relevant question, however, is: How does allowing politicians to take more money in taxes from successful people, to squander in ways that will improve their own reelection prospects, make anything more “fair” for others?

 

via The \’Fairness\’ Fraud – Page 1.

 

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Second Amendment: Detroit Chaos Proves Once Again It’s No Anachronism

Second Amendment: Detroit Chaos Proves Once Again It’s No Anachronism

via Wikipedia

Second Amendment antagonists claim that the individual right to keep and bear arms is some sort of anachronism, no longer important since the days of the Redcoat.

Decades of sociological research refute that allegation, of course, demonstrating to the contrary that greater firearm possession by law-abiding citizens correlates with lower crime.  Moreover, armed Korean shopowners successfully defended their lives and livelihoods from their rooftops during the 1992 Los Angeles riots, providing vivid contemporary illustration of that reality.

 

via Second Amendment: Detroit Chaos Proves Once Again It’s No Anachronism.

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Lawmakers to Propose Transaction Tax for Financial Firms Modeled on Europe

Two U.S. lawmakers will introduce measures to impose a transaction tax on financial firms that resembles a proposal released by the European Union.

Senator Tom Harkin, an Iowa Democrat, and Representative Peter DeFazio, an Oregon Democrat, will introduce the bills tomorrow in their respective chambers. The bills will give the United States an increased role in the international debate over a transaction tax, which is likely to be discussed at the Group of 20 summit this week in Cannes, France. read more

 

Warren Buffett’s Very Strange Tax Argument – Forbes

Warren Buffett’s Very Strange Tax Argument – Forbes.

 What he says, with the qualifications he uses, is true as far as it goes. It is, however, extremely misleading, because he’s left out the effect of the corporate income tax.

There are essentially two conceptual ways in which you can tax dividends. You can tax them as income to the people who collect them: this was the system in the UK, my home country and is effectively the system now. Or you can tax the profits at the corporate level and then dividends are tax free to the recipients. Several continental European countries use this system.