Tag: Marxism

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national politics & policies tax policy

Kill the Stock Market!

Kamala Harris, Tim Walz, Marxism, socialism, equity, stock, capital gains tax

Taxing capital gains is a form of income taxation that Democrats love. 

And it’s not just a matter of increasing revenue. Remember that President Obama thought that increasing the capital gains rate was a good idea even if it decreased government revenue. Democrats are playing to a soak-​the-​rich sentiment among their base, even when the most important supporters are billionaires.

Take Mark Cuban. He’s a billionaire. And he supports Kamala Harris for president. 

Weeks ago, the Democrat standard-​bearer came out with a wild proposal to tax unrealized capital gains. And Cuban, for all his faults, is not an idiot; he knows just how incredibly corrosive that tax on capital would be.

“It would kill the stock market,” he points out. 

In a chat with Fox Business, Cuban explained how he told Democratic insiders that taxing unrealized capital gains (as when stocks you hold gain value, but you haven’t sold them so you have no income from them), would become “the ultimate employment plan for private equity, because companies are not going to go public because you can get whipsawed, right?” 

By this he means that a stock owner might have to borrow money to cover taxes, only to have the stocks go down later and enjoy neither rebate from the government nor any income from the investment to cover the debt.

Cuban insists that Democratic insiders are pragmatic and will not push this tax.

Yet, with both members (comrades?) of the presidential ticket spouting Marxist talking points, how do we know that they are stable (corrupt?) enough to save public capitalism from their malign agenda?

How can we be sure they’re just lying?

This is Common Sense. I’m Paul Jacob.

Note: Since unrealized capital gains aren’t income, I don’t know how taxing them could be constitutional. Perhaps someone can explain this to me.

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general freedom ideological culture political challengers

Two Libertarians, North and South

Milei, Rectenwald

Two scholars have entered politics: Javier Milei in Argentina and Michael Rectenwald in the U.S. The latter’s work has been discussed before in these pages, but the former’s has not. 

Michael Rectenwald, an erstwhile Marxist who began criticizing woke leftism and found his way to libertarianism, spurred by his cruel rejection by the leftist academy and also by reading the work of Ludwig von Mises, is now running for the U.S. presidential nomination of the Libertarian Party.

Javier Milei was a footballer and rock-​n-​roll musician before becoming an economist and a politician. The Argentine with the wild hair spoke clearly and rationally to Tucker Carlson days ago in Buenos Aires, defending what he called “liberalism” (and opposing socialism in all its forms). Mr. Carlson identified Milei as a libertarian, claiming that the popular economist may become, next month, the next president of his country. At the ten-​minute mark Milei explains that “liberalism” means something different in Argentina than in the U.S. He makes it clear he means freedom under a rule of law.

Michael Rectenwald formally introduced his campaign on comedian Dave Smith’s podcast Part of the Problem on Saturday. Rectenwald explains that his main goal is to speak the Truth. “The conclusion I’ve come to is effectively that the means that these elites use are actually the ends that they seek.” In short, those in power didn’t cook up lockdowns and mask mandates and jabs to fight a pandemic, but to extend their power.

Milei, in one popular video, takes a similarly dark view: “You can’t negotiate with leftards. You don’t negotiate with trash because they will end you!”

This politics stuff isn’t so easy.

This is Common Sense. I’m Paul Jacob.

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education and schooling First Amendment rights media and media people

License for Leftists

censorship, education, schools, Marxism

Libertarians should avoid taking sides in left-​right antagonisms when promoting a principled third position would make more sense.

Regrettably, in “Christopher Rufo Wants To Shut Down ‘Activist’ Academic Departments. Here’s Why He’s Wrong,” libertarian magazine Reason fails to offer that alternative.

“In an essay published this week in City Journal,” author Emma Camp begins, “conservative activist Christopher Rufo argued that universities — or rather, the state legislatures governing these universities — should shut down ‘activist’ academic departments. But rather than protecting higher education, forcibly shutting down left-​wing academic departments would be nothing more than routine censorship.”

Tellingly, she never defines “routine” censorship.

Let me help: routine censorship is the governmental policy of preventing or punishing private speech on private property. 

State colleges and universities are public institutions, politically established and subsidized by taxpayers. With few exceptions, “private colleges” are also routinely tax-​funded at the demand end, and are further supported with research contracts.

Getting rid of Marxist professors preaching political revolution is no more anti-​free speech than preventing the CDC and Anthony Fauci from conducting gain-​of-​function virus research within some college laboratory.

Ms. Camp quotes the Supreme Court about the importance of “safeguarding academic freedom, which is of transcendent value to all of us and not merely to the teachers concerned.” Freedom sounds great, but as usual, the Supremes forget that taxpayers have an interest, and that constraints on public schools was once routine.

So how not to “cast a pall of orthodoxy over the classroom”? 

Offer a third position: de-​subsidize and dis-​establish government “education” by empowering higher education’s customers. Let Marxist professors find payers in the private sector.

Instead, Emma Camp effectively tells conservatives they have no choice but to fund every leftist program that politics and the bureaucracy allow. She could have recognized that “Academic freedom” in the context of tax-​subsidized schooling is merely ideological license.

Which is itself a sad alternative to real liberty.

This is Common Sense. I’m Paul Jacob.

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Gaslight Theory

Joy Reid, Karl Marx, Marxism, CRT, critical race theory

“[P]arents are fighting with school boards in cities and towns across the country,” MSNBC’s Joy Reid informed her audience, “over curricula that they believe teaches white kids that they are racist.”

Reid asserted that “none of this is actually happening,” 

She spoke with Kimberlé Crenshaw, the executive director of the African American Policy Forum and a professor of law at UCLA and Columbia University. Crenshaw invented the term “Critical Race Theory” and told Reid that CRT was merely a “boogey-​man,” adding: “I think I would know if we were being taught in K‑12.” 

The “GOP freak-​out over Critical Race Theory,” offered Reid, was a “highly manufactured strategy created by seasoned political operatives looking for the perfect wedge issue.”

Reid ignores parents across the country actively encountering this racist anti-​racism. Back in April, parents in Loudoun County, Virginia, documented half a million tax dollars going to programs titled “critical race theory.” After being told there was no such thing. It’s happening all across the country.

But fear not: the National Education Association to the rescue! 

A few days ago, the nation’s most powerful teachers union cleared it all up by passing New Business Item 39 to defend the use of CRT in K‑12 public schools, including by providing “an already-​created, in-​depth, study that critiques empire, white supremacy, anti-​Blackness, anti-​Indigeneity, racism, patriarchy, cisheteropatriarchy, capitalism, ableism, anthropocentrism, and other forms of power and oppression at the intersections of our society, and that we oppose attempts to ban critical race theory and/​or The 1619 Project.”

The NEA may be on the wrong side, but nevertheless buries the disingenuous psy-​op of the left intelligentsia, for whom no lie is too big to push.

This is Common Sense. I’m Paul Jacob.

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Bully for Your Thoughts

Professor William Jacobson, a Cornell Law School professor who also publishes the popular Legal Insurrection blog, got into trouble last summer by criticizing the violent Marxist organization Black Lives Matters.

BLM’s standard weapons include rioting, burning, looting, and screaming.

Jacobson had argued that the “Hands up, don’t shoot” version of the Michael Brown case is a lie and, in another post, that all the “bloodletting and wilding” around the country was primarily about tearing down the country, not about George Floyd.

These opinions upset the bullies.

Being a conservative professor on a liberal campus had all along made Jacobson feel like a “mouse waiting for the cat to pounce.” After 12 years at Cornell, though, the summer of 2020 was the first time that fellow Cornellians actively sought his ouster.

Six months later, we sure hope Professor Jacobson has managed to land on his feet. And he has. Back then, he was a professor at Cornell Law School. Today, he is a professor at Cornell Law school.

Why didn’t he seek friendlier pastures?

“I don’t see why I should be forced to change my life because they are so intolerant and they are so malicious,” he recently told The Daily Signal podcast. “Why don’t they leave? I’m not going to leave voluntarily. And if they do try to interfere in the renewal of my contract in a year and a half, I will take them to court over it.”

Bully for you, Professor. 

This is Common Sense. I’m Paul Jacob.

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