Politics & Culture
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As we approach the end of 2012 we continue to see the scenario that Ayn Rand dramatized in Atlas Shrugged playing out in our world. As predatory politicians penalize and vilify the most productive members of our society (who are, on average, the most prosperous, too), those would-be victims flee.
As Congressional leaders and the Administration try to negotiate a deal to stop the government from marching over the so-called “fiscal cliff,” some officials are considering putting new limits on the tax deduction for donations to charities and other nonprofit organizations, such as The Atlas Society.
Americans face automatic tax hikes at the start of 2013 that would cripple a barely limping economy. But the federal government is running astronomical budget deficits, borrowing 40 cents for every dollar it spends. What to do?
"Patriotism is the last refuge of the scoundrel" said Samuel Johnson.
Well, not always. But President Obama has placed himself squarely in that category that Sam condemned.
One can rightly love one’s country for the values manifest in its government and culture. The United States was founded on the principle that all individuals are endowed "with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness." Those who fought for those principles were true patriots. Obama is not.
Ever see someone driven by booze, drugs, gambling or some other obsession and destroying family and friends as a result? Ever want to see someone close to that person grab him by the collar, slap him and say “Wake up! Pull your head out of your butt and look at what you’re doing! Destroying yourself is one thing. But I’m not gonna let you destroy the rest of us. Get the outta here and clean up your act!”
The war between expropriators and producers has taken a wholly expected turn in France. The recently-elected socialist government announced plans to slap a 75 percent tax rate on the dwindling number of its citizens who make more than a million euros (about $1.2 million). Obamanomics on the Continent!
Over the past decade New York State has lost 3.4 million residents, with incomes totaling $119 billion, according to the Tax Foundation. This loss more than offsets the 2.1 million who moved into the state between 2000 and 2009.
On Tax Day 2012 we’re greeted with the news that some 1,800 Americans, a record number, last year renounced their citizenship or turned in Green Cards. The principal reason was to avoid high American taxes. Particularly onerous is the fact that the United States, unique among advanced countries, taxes its citizens on income that they earn while working overseas.