Support for taxing wealth rather than income has surged in American political discourse. Progressive lawmakers have floated federal wealth tax proposals for years, and the idea has now migrated to the state level in dramatic fashion.
“Governments defending prices against fundamentals always lose,” Druckenmiller wrote.
“The debt is real. The murderous destruction of Gaza, and now southern Lebanon, is real, and the costs to maintain that destruction and rebuild as an Israeli paradise, is unimaginable.”
It took around two hundred years for US government debt to reach one trillion dollars. By contrast, in less than half a year a trillion was added to bring the debt total to the 40 trillion dollars it reached last week. According to the Peterson Foundation, US government debt is on a path to reach 50 trillion dollars within the next six years.
Despite promising to reduce government spending in all three of his presidential campaigns, President Trump, with the assistance of congressional Republicans and Democrats, has continued to grow the government debt.
The Ideological Origins of the American Revolution
Bernard Bailyn
Harvard University Press (1967) 2017, xxxvi + 396 pages
The Declaration of Independence—as a bold act of secession—can be understood as one of the earliest major challenges to modern centralized sovereign authority within the emerging nation-state system. Understanding the Hobbesian nation-state is crucial to fully appreciating the Declaration of Independence and the American Revolution.
While it may look like the path to the Declaration of Independence was inevitable in the 1770s, the American colonists did not think so. In fact, as late as the spring of 1775, there was general resistance to the idea. But despite American reconciliation, the British acted with disdain toward any American efforts. Over the course of 1775 and early 1776, the possibility of a peaceful solution became less likely.
Independence Day comes and goes every year, but it’s never quite clear, now 250 years later, what exactly it is that most people are celebrating. Some tell us that it’s “America’s birthday,” while others say it’s the anniversary of “freedom.” Some people don’t really have much of an opinion about it at all. For many, it’s just a day to celebrate “America” and enjoy a day off from work.
