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Reducing the American citizen to a status of subject
When the Sixteenth Amendment was ratified just over a century ago, there was no concern that IRS abuses would extend to 501c4 applications for nonprofit status from groups “unfriendly” to the administration in power. Such tax code proliferations were never anticipated. Careful observers of the income tax from the perspective of American ideals and history, such as Frank Chodorov, focused on how income taxation would undermine Americans’ liberty. As he put it in The Income Tax: Root of all Evil:
The IMF is Dead Wrong on Low Interest Rates
In its just-published World Economic Outlook the IMF trumpets the view that the real level of equilibrium interest rates worldwide has declined substantially since the 1980s and is now in slightly negative territory.
More Photos from Friday’s Inflation Seminar
Featuring some students from Andrew College (of Georgia):
(Thanks to Breanna.)
Cognitive Dissonance on Minimum Wages and Maximum Rents
The minimum wage forces the price of labor up, and rent control forces the price of rental housing down.
Video: ‘What is Money?’ with Mark Thornton
Another Phony Budget Debate
By Ron Paul
Audio: Joseph Salerno Talks Monetary Chaos
Interviewed by host Tom Woods, Joe Salerno talks about the Fed, the Great Depression, currency wars, deflation, and why governments hate cash.
Video: Matt Drudge and Information Overload
For the text version, see today’s Mises Daily.
Ranchers and Empire in the American West
The militarized siege of a cattle ranch near Bunkerville, Nevada has drawn national attention as dozens of federal agents, armed with machine guns, sniper rifles, helicopters, and more, have descended on the ranch to seize cattle, people, and generally show everyone who’s boss.
