Must Reads For The Week 5/30/15
States Turn To Pension Ponzi Scheme To Close Funding Gap, at zerohedge.com. State and local government have underfunded pension funds for years thinking they could cover the future shortfall by raising taxes. Since the tax payer is tapped out, politicians are going to fund pensions by issuing more debt. How do you think this will turn out?
A $12,480 Per Year Tax Per Full Time Employee ($15 Minimum Wage) Hurts Business, by Mark J. Perry, at carpediemblog. An increase of $6 per hour adds $12,480 to the cost of doing business. Do politicians really think mandating a higher minimum wage has no consequences on low skilled jobs.
Why Bikers Are Being Murdered In Venezuela, youtube. Venezuela’s socialist government restrictions on imports has created a shortage of motorcycles and spare parts. Motorcycle riders are being murdered for their bikes when they stop on street corners. Just another example unintended consequences by central planners.
Government Regulation And Economic Stagnation, by Peter St. Onge, at mises.org. This is a good article about how government intervention in the free market results in a stagnating economy. Government regulations can’t trump the laws of economics. Economic forces are always in the process of correcting these government interventions, and they always prevail in the long run.
The Surveillance State Is Illegal, at creators.com. The U.S. Appeals court ruled that the collection of metadata by the NSA is illegal. This is a victory for the rule of law. It will be interesting to see what happens in the Sunday Senate showdown when the deadline for the Patriot Act arrives. Lets hope individual freedom wins over tyrannical politicians.
Eminent Domain Abuse – Kelo Tenth Anniversary, at libertypenblog.blogspot.com. Young adults don’t remember this case concerning eminent domain. All the liberals on the Supreme Court ruled in favor of a private development firm, instead of ruling in favor of individual property rights. Individuals homes were bulldozed for no reason as the development was never built. This article titled, Eminent Disaster, by Jeff Jacoby, gives a brief explanation of the case.
5 Big Banks Fined $5 billion For Manipulating Interest Rates And Currency, at dallasnews.com. These banks are getting fined for doing the same thing the Federal Reserve has been doing for years. Will these banks pay their fine by withdrawing electronically printed counterfeit money that is on deposit at the Federal Reserve?
Behind The Pope’s Embrace Of Castro, at targetliberty.com. Two Marxists met when Raul Castro visited the Pope last week. Here is the money quote by Raul Castor, “The pontiff is a Jesuit, and I, in some way, am too. I studied at Jesuit schools.“. I’ve always thought the Pope leans toward Marxist liberation theology. You remember liberation theology because of Obama”s pastor Jeremiah Wright.
GATOR VS. TRUCK
Tags: $15 Minimum Wage, Eminent Domain Abuse, Gator vs. Truck, Government Regulation and Economic Stagnation, Jesuits and Marxists, Kelo Aniversary, Liberation Theology, Pensions Underfunded, Raul Castro and The Pope, Socialist Venezuela, States Pension Ponzi Schemes, Surveillance State is Illegal, Venezuelan Bikers MurderedYou can comment below, or link to this permanent URL from your own site.