Posts Tagged ‘Dept of Treasury’
OUR FOUNDING FATHERS understood that tyranny wasn’t likely to come from a foreign invasion but from the step-by-step erosion of our freedoms by an expanding government. This is what we are facing today. Most people have no conception of the slippery slope we’re on.
Two ominous trends threaten us. One is the monstrous growth of the regulatory state, whereby “independent” agencies, such as the EPA and the FCC, are creating countless rules that carry the force of law. These entities, not our increasingly emasculated Congress, are today’s real lawmakers. More and more they conjure up mandates based on whim and fact-free ideology. And often these diktats are written in vague or ambiguous language that gives bureaucrats oppressive discretionary powers.
Traditional Cabinet departments, such as the Treasury, are also engaging in government by decree. The Treasury recently issued a legally dubious rule to stop so-called inversions, whereby a company changes its headquarters’ mailing address to one outside the U.S. to save on taxes. Bureaucrats rightly calculated that companies wouldn’t undergo the years of uncertainty involved in fighting this decree through our oft slow-as-molasses court system.
Read more by Steve Forbes at Forbes.com
The Federal Reserve is a key component of the American Transfer State. Under the guise of “macroeconomic management,” it redistributes vast amounts of wealth on an ongoing basis through inflation. The victims of these transfers are ordinary Americans. The beneficiaries are the government and its elite cronies.
The Fed masks the nature of this surreptitious taxation and corporate welfare by performing a simple shell game that is just complicated enough to confound the general public.
First, let’s imagine the government performing this kind of inflationary transfer without the shell game. . . .
Read more by Dan Sanchez at Mises.org
TRANSCRIPT OF THE VIDEO:
“We’re going to be gifted with a health care plan we are forced to purchase, and fined if we don’t, which purportedly covers at least 10 million new people without adding a single new doctor, but…….
- provides for 16,000 new IRS agents,
- written by a committee whose chairman says he doesn’t understand it,
- passed by a Congress that didn’t read it but exempted themselves from it, and
- signed by a President who smokes,
- with funding administered by a Treasury chief who didn’t pay his taxes,
- for which we will be taxed for 4 years before any benefits take effect
- by a government which has already bankrupted Social Security and Medicare,
- all to be overseen by a Surgeon General who is obese, and financed by a country that’s broke.
So what the **** could possibly go wrong?”
–SNIP– If Congress can constitutionally create a mandate for individuals to purchase healthcare, then Congress can create a mandate for individuals to purchase financial securities. Which — given the fiscal cliff that we are about to run off, and the reality that more and more sovereigns are dumping dollars and treasuries — could well be a useful weapon in keeping the Treasury’s borrowing costs low and the bread and circuses flowing.
Read more by John Aziz at azizonomics.com