Categories
responsibility too much government

Dream Weavers

“It’s time to retire the American Dream,” writes The Washington Post’s Robert J. Samuelson, “. . . to drop it from our national conversation.”

Not so fast. The ability to stand on one’s own two feet, to make a living and a life for oneself and one’s family, to be financially and otherwise independent — that dream is still absolutely relevant.

And should be achievable beginning from any station in adulthood.

Samuelson is correct, though, to worry that the dream is becoming “an informal entitlement.” The “pathways to the Dream” constructed by government “often led to dead ends.”

“True, homeownership is a laudable goal; it stabilizes neighborhoods, for example,” he writes. “But the promotion went overboard. Lax lending standards lured people into buying homes they could not afford, contributing to the 2007-09 financial crisis.”

Samuelson also thinks that “it made sense to subsidize loans allowing more students to go to college” because a college degree “meant better jobs,” but recognizes that the cost of college shot higher and many students ended up “with heavy debts and no degree.”

So you see where the problem really lies. As Henry David Thoreau wrote a century and a half ago, “The character inherent in the American people has done all that has been accomplished; and it would have done somewhat more, if the government had not sometimes got in its way.”

The American Dream isn’t to have government fulfill all our dreams. It has a more modest role.

Making our dreams come true is our job.

This is Common Sense. I’m Paul Jacob.

Categories
Thought

Thomas Jefferson

It does me no injury for my neighbor to say there are 20 gods, or no god. It neither picks my pocket nor breaks my leg.

Categories
national politics & policies tax policy

Tax Reductions Ahead?

As the president yammers on about making the rich “pay their fair share,” behind the scenes his administration has suggested reducing corporate tax rates by seven points. Meanwhile, Obama’s main challenger, Mitt Romney, promised a full ten point rate cut, if elected.

Why? By international standards, American corporate taxes are obviously way too high.

The U.S. effective tax rate on new corporate investment sits at 35.6 percent today, which, write Duanjie Chen and Jack Mintz for the Cato Institute, “is almost twice the average rate for the 90 countries” the duo studied, in “Corporate Tax Competitiveness Rankings for 2012.”

The U.S. has higher corporate tax rates than France.

And India, Colombia, Brazil, Japan, Venezuela, Korea, Russia, Costa Rica, you name it. This is not something we want to be No. 1 at.

Well, at least Argentina, Chad and Uzbekistan tax at even higher rates.

There’s no consolation in others’ folly, though.

The authors look northward, to Canada, which, since 2000, made some huge adjustments downward on tax rates affecting businesses: 15 percent cuts in federal statutory tax rates, eliminating most capital taxes, removing sales taxes on capital goods, and scaling back on special preferences that tend to make taxation such a mess there as well as here. And all the while revenues from these taxes have remained stable per GDP.

Could we get lower corporate taxes, here? Well, this is not an area where those on the left can enviously eye their beloved European social democracies to make their usual, tedious case for higher taxes. Norway’s rates are ten percent lower than ours, and Sweden’s, Denmark’s and Finland’s are lower yet.

This is Common Sense. I’m Paul Jacob.

Categories
Thought

Jean de La Bruyère

Liberality consists less in giving profusely, than in giving judiciously.

Categories
links

Townhall: Buy My Vote!

“Don’t vote,” anarchists say, “it only encourages them.”

All freedom lovers get a chuckle out of that old chestnut. But it doesn’t take a genius to realize that non-voting by sensible skeptics does more than encourage usurping politicians. It gives them free rein.

Voting in rational self-defense seems like the more practical approach.

Alas, that’s easier said than done.

This weekend’s Townhall column by Yours Truly floats a proposal: swapping votes for freedom.

Politicians swap votes all the time to get what they want. We want less government. Can we get what we want by swapping votes in our way?

Well, read the column, then come back here, and maybe we can make some mutually profitable trades!

(If you put your email in the appropriate box when you leave a comment, your email will be viewable to me but not publicly on the Internet.)

Categories
Thought

Ford Madox Ford

Only two classes of books are of universal appeal: the very best and the very worst.

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video

Video: Washington Monument

This is great:

Categories
Thought

Frederick Douglass

I prefer to be true to myself, even at the hazard of incurring the ridicule of others, rather than to be false, and incur my own abhorrence. From my earliest recollection, I date the entertainment of a deep conviction that slavery would not always be able to hold me within its foul embrace; and in the darkest hours of my career in slavery, this living word of faith and spirit of hope departed not from me, but remained like ministering angels to cheer me through the gloom. This good spirit was from God, and to him I offer thanksgiving and praise.

Categories
Thought

John Bright

Force is no remedy.

Categories
ideological culture too much government

Togetherness

“We’re all in this together,” folks say. I’ve even said it. But are we?

Yesterday, I discussed Mitt Romney’s secretly recorded comments on the “47 percent” he believes are hell-bent on supporting President Obama . . . and an apparently different 47 percent not paying federal income taxes. Romney expressed a not unreasonable fear that government bailouts and handouts and entitlements will cause dependency, and there will come a breaking point where those working and producing will be unable to shoulder that burden.

But Mr. Romney shouldn’t go along with the bifurcation of the American public facilitated by the structure of the federal income tax and the payroll taxes for Social Security and Medicare. Most people of all incomes are paying a lot more in taxes than they should have to, even when they do not pay federal income taxes.

Moreover, while no doubt some folks wallow in dependency through welfare or crony insider deals, the vast majority of Americans desire to stand on their own two feet. Part of the 47 percent not paying income taxes are people on Social Security, as noted in an online comment by John C. Bisely:

To lump Social Security in with the other parasites is very disturbing to me. I didn’t ask for SS, it was a government run insurance for my retirement that made sense, actually. The politicians used it as a cash cow and stole billions to buy votes — plus the fact, I gave them real dollars at the time I paid into it and they give me, inflated fiat!!!

Mr. Bisely, like most Americans, is not a parasite. He’s earned his way in this world. He deserves a less parasitic government.

This is Common Sense. I’m Paul Jacob.