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Archive for May, 2013

How taxpayers are being ripped off

28 May

In an op-ed Senator John McCain bemoans the fact that American cable and satellite subscribers are being ripped off, because they do not have the ability to cancel channels they do not watch…and for which they have to pay now.

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Posted in Federal Government, Taxes, The Warfare State, Warfare state

 

The real meaning of quantitative easing

26 May

My letter about the Federal Reserve is published in The Record today.   Below is the original sentence at the end of the letter which was omitted in the published version. Potential readers, more than 200,000.

Americans must back free enterprise

Regarding, “Fed faces tricky pullback” (Page L-7, May 24):

The reporter acknowledges that “the Fed has acted aggressively to try to boost the economy” over the past five years.

In other words, the Fed’s massive quantitative easing, a euphemism for creating, or printing, money, has done wonders for the stock market and other asset prices but little to boost production and employment.

Artificially low interest rates are not a substitute for real capital investment, which is the foundation of a robust economy.

As Austrian economist Ludwig von Mises summarized the attempt by a central bank to substitute cheap credit for capital investment expecting that more easy money would fuel an economic boom: “Credit expansion is the government’s foremost tool in their struggle against the market economy. In their hands it is the magic wand designed to conjure away the scarcity of capital goods, to lower the rate of interest or to abolish it altogether, to finance lavish government spending…”

Professor Mises’s words are more applicable today than when they were written more than six decades ago. Since then, our welfare-warfare economy has become super addicted to easy money, the final outcome either total government control over the economy or a return to sound money, limited government and fiscal responsibility.

It’s up to the American people to decide if they want collectivism or free enterprise.

Murray Sabrin

Fort Lee, May 24

The writer is professor of finance at Ramapo College and a past candidate for governor.

Since then, our welfare-warfare economy has become super addicted to easy money; and the final outcome of statism is either total government control over the economy or a return to sound money, limited government, and fiscal responsibility.

 
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Call me a crackpot libertarian

23 May

In his Star Ledger column, “Crackpot libertarianism at the convenience counter,” Paul Mulshine tries to make the case that Senator Richard Codey’s bill to increase the age to legally buy cigarettes from 19 to 21 is not an infringement on individual liberty.  He fails miserably.

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Posted in Healthcare, New Jersey, State government, Welfare state

 

Immigration panel, part two

17 May

 
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Posted in Uncategorized

 

Panel discussion on immigration, part one

15 May

 
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Enough is Enough: Abolish the income tax

13 May

The revelations that the Internal Revenue Service has been giving extra careful review of the tax- exempt applications of Tea Party groups and other “patriotic” organizations should raise the obvious question, doesn’t an income tax lead to all kinds of abuses?

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Recent Interview on the Liberty Action Network

06 May

 
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