Companies and States Lying about Finances

States are hiding their liabilities and companies are exaggerating their stock market attractiveness by lying about finances. First there was Enron and then a few years later the housing collapse when we learned that the ratings on the mortgage-backed securities were completely misleading. And yet the same scams keep happening as people continue lying about finances. Drudge shared two stories last night that I think go together. Both states and publicly held companies want to appear to be Read more […]

The Man with the Pen and Phone “weighs in on deflate-a-bowl”

Are a pen and phone more important than the Constitution? I know many of you still recall the deflated New England Patriots footballs and how important that is to patriotism. When Barack Obama was asked if it was cheating, the president said, “If you break the rules then you break the rules.” Apparently our current Executive Branch and concurring Congress take this same mentality. Congress are the ones who write the check to underwrite executive policies. And what exactly are Read more […]

Income Taxes Are About Controlling Behavior

Here is an excellent article from the Heritage Foundation’s Daily Signal: “Yes, Low-Tax States Are Out-Competing High Tax States.” Arthur Laffer and I have examined the data back to 1970 in our book, “An Inquiry into the Nature and Causes of the Wealth of States.” No matter what 10 year period we reviewed from 1970 to 2012, we found that collectively the states with no income tax outperformed the highest income-tax states in terms of population growth rates and real personal income growth. Yes, Read more […]

Government Spending Cuts: A triumph of FICTION over FACT (Part 2)

In Part 1 of Government Spending Cuts, we exposed the tricky techniques government uses to increase spending while claiming it is cutting. First, we exposed the fallacy of fewer bananas and more oranges.   Government buys fewer bananas, but more oranges, and issues press release saying it cut spending on bananas. In a second example we demonstrated the fallacy of a reduced wish list.  Government creates budget that are designed to increase each year.  When the actual increase is slightly Read more […]

Nullification Efforts On The Rise

States who are growing tired of the overreaching tentacles of the federal government have been enacting legislation that tells the Feds “no” on issues ranging from medical marijuana, gun control, healthcare and drivers’ licenses. The Associated Press reported that by its analysis, about four-fifths of the states have such laws: “The recent trend began in Democratic leaning California with a 1996 medical marijuana law and has proliferated lately in Republican strongholds like Kansas, where Read more […]

The United States are ‘Them,’ Not ‘It’

Article 3, Section 3 of the United States Constitution states the following: “Treason against the United States, shall consist only in levying War against them, or in adhering to their Enemies, giving them Aid and Comfort.” According to this—the governing document of our country—treason against the United States consists not only in warring against the country, but also in aiding and abetting enemies of the United States. But notice closely the wording of the sentence above: “in levying Read more […]

Economic Lies Used to Manipulate, Discourage, And End Democracy

Here is the insanity: “As State Budgets Rebound, Federal Cuts Could Pose Danger.” “After years of budget cuts and sluggish recovery, states expect to see their revenues climb back to prerecession levels this year for the first time since the financial crisis hit. But even as some states hope to restore some of the deep spending cuts they have made, they face a new threat.” When I read such brain-cramping nonsense, I can only think of the Nazi mastermind Joseph Goebbels who said of England Read more […]

More States Reject Obamacare Mandates: Ceding Power to the Feds?

While it is encouraging to see a growing number of states reject Obamacare’s mandate for a state-regulated health insurance exchange, it does raises an important concern. Some, like Yale law professor Heather Gerken, think that governors who reject that mandate are simply ceding more power to the Feds, because if they refuse to set up the exchange, the Feds will just step in and do it for them. Given the choice between having a state-run exchange and a federal-run exchange, even some conservatives Read more […]