First Blog

Innovation Meets Taxation With many cities and states needing more taxes to pay for unfunded liabilities and other pressing obligations, they are innovating new taxes to raise more money.   Some possibilities The Exit Tax.   For those choosing to leave the state because of high taxes, many states will propose an exit tax of 20% of their wealth.   Called final expenses , it will not be called   a tax   per se, but a service fee.* Virtual Wealth Tax.   For those with credit cards not charged to the limit, they have a virtual wealth obtainable by spending to that limit.   Some states are proposing a 23% tax on the difference between the credit card limit and the balance.   The neat thing about this tax is that it will be automatically charged to the credit card.   The Homeless Tax.   Now nearly in operation in Seattle, this flat tax of $275/employee will be charged to businesses to help with the expenses of housing, feeding, and medical care for the homeless.   Naturally, this

Regulation without representation is a corollary of “taxation without representation.” Both are dangerous, and in unmitigated multiplicity   both are illegal and unethical in the schema of democracy.  Indeed, regulations that cost citizens money to comply become a form of taxation.  To govern by regulation is a post modern form of dictatorship.  Petulance is not a form of governance, though the US Congress may claim an exemption. 

Banking is a subject I know little about.  Trust is a subject I've studied.  Confidence is a subject I do know.  What we have on the table is an issue involving confidence and trust in the Banks of Cyprus. Of late the banks in Cyprus have been closed due to the serious financial conditions in this island country. Cyprus is broke, far extended in credit, and well beyond ability for repayment without serious public pain.  At first there was to be a sur-tax on all bank accounts, then on all accounts greater than a specified amount. And so on as this has evolved.  Currently, people cannot really access their money at all. Sure, we see street demonstrations by the citizens objecting to about everything.  But later, when they return home, they must plan for their possible futures.  What will they plan?  Who will they trust?  In what is their confidence? The bank?  The government?  The EZ?   All of these? What this implies is that, in the blink of an eye, the confidence or trust in