Economics and Investing:

China Ready To Cut Oil Supplies To North Korea. Beijing is ready to cut oil supplies to North Korea as the country continues to conduct nuclear missile tests.

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Miami condo market acting as if it is 2007: Condo market in Miami is saturated with units and inventory is growing.

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Drop In Gasoline Causes U.S. CPI To Fall 0.3% In March

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Tax Day. Excerpt: “The first great lesson to learn about taxation is that taxation is simply robbery. No more and no less.”

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3 Responses to Economics and Investing:

  1. Michelle from Canada says:

    Hello Hugh
    it is Michelle talking
    You said Taxation is robbery. Well you are talking to the tax man, (women). I worked in that area. The problem with taxation is it is on everything. Did you no that in Canada we did not pay income tax before WW1.

    You work all your life, you pay all of the taxes, inflation destroys your savings. It is wealth confiscation pure and simple. That’s the game.

    You don’t pay taxes only directly to the tax man. No, no, no. You pay taxes on everything you do. Buying wine, taxes, buying gas, tax, your car licence is a tax. Dog licence is a tax. Property tax, consumer tax, Make a list.

    • Hugh James Latimer says:

      @Michelle,
      Some sort of taxes are necessary at all levels. The federal government must have an income to provide the protections that they must provide per the constitution. However, over 2/3 of the current budget goes towards programs that are not really constitutional. (such as education, social security, roads, etc…) The Feds have assumed control of things they have no responsibility for and in some cases are downright wrong. Of the remaining, a significant portion could be better handled by the states. The same could be said of the states. They often assume control of things that would be better handled by the counties or local municipalities. If the respective governments only assumed responsibility for the things that they could best handle, we would have much smaller government and a much smaller tax load.

  2. Michelle from Canada says:

    Dear Hugh,

    People pay taxes true the nose. .It is the situation of the average Jo. I understand their frustration. I guess I have some empathy.

    I agree some taxes are needed to pay for hospitals, road maintenance, municipality services. Yes, defense. and they could pay those soldiers better then they do. Education is a money pit. They spend, and they don’t get good results and they make it mandatory to send your child to schools administered by the government. They don’t teach critical thinking, or basic knowledge anymore. I ear complaints about the quality of education being blamed on immigration. If you teach and you teach well the basics, and the specialties, all students will learn. You will thrive as a nation. The education system is being deliberately sabotaged. Don’t blame children, or parents. Their opinion does not count. I can write on this. You would be surprise what I come up with. The fact is that this money is very badly managed. Municipalities built buildings they do not use. Hospitals and schools in bad shape, do not get repaired. I am not talking esthetics here. I mean buildings with molds, being a health hazards. Pension founds of employees are not supplemented. How will they pay the pensions of those employees when the time come for them to retire? The municipalities won’t be able to honor their contract.

    Taxation is not exactly robbery. I would call it extortion.
    If you overtax it is like charging $100 for a hot dog. It is not reasonable. It should not be free. But a reasonable price would be more acceptable.

    If you tax the people to much they stop buying, because they cannot afford to be spending. The more you tax them the more the consumer activity will suffer, because the family income has not followed the cost of living for many years now. There is only a certain amount of money to go around. Wouldn’t it be nice to be able to print it like some are able to do….
    I know, I know…. Inflation alert.
    We can talk about this for a long time. We are not in a position to do better.

    I like when you reply, Hugh. It gets the conversation going.
    At least you read those comments.

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