Wisdom from a (rightfully so) pissed-off Peter Schiff
Peter Schiff rants about the upcoming "fairness" in the tax code:
"First of all, I'm in the top two percent. Right now, I'm paying 45% of my total income in income taxes, both to the state of Connecticut and to the federal government, and if you take the 3% Medicare tax. After the tax hikes go into effect next year, more than half -- more than half of my total income is going to go to the government. You tell me, what's fair about that when medieval serfs pay 25%, I'm paying half? I don't care what the majority voted to do, they don't have a right to steal my money just because they vote for it. [...] You know what the wealthy are going to do? They're going to invest more abroad, they're not going to work as hard, they're not going to pay as much in taxes, they're not going to employ as many people. [Their] employees are going to pay all the taxes."
Universal suffrage has SERIOUS issues in practice. People who cannot get their own personal shit together are not fit to influence the lives of others, and they can do exactly that by being able to vote.
"I don't care what the majority voted to do, they don't have a right to steal my money just because they vote for it."
The chief characteristic and distinguishing feature of a Democracy is: Rule by Omnipotent Majority. In a Democracy, The Individual, and any group of Individuals composing any Minority, have no protection against the unlimited power of The Majority. It is a case of Majority-over-Man.
A Republic, on the other hand, has a very different purpose and an entirely different form, or system, of government. Its purpose is to control The Majority strictly, as well as all others among the people, primarily to protect The Individual’s God-given, unalienable rights and therefore for the protection of the rights of The Minority, of all minorities, and the liberties of people in general.
http://www.lexrex.com/enlightened/AmericanIdeal/aspects/demrep.html
We are headed in entirely the wrong direction.
Luis, just go on food stamps and you'll feel better.
My problem is that I keep seeing people on food stamps who dress better than I do.
I'm thinking that I am going to embrace "Hispanic", then move to Colorado.
Spending the next four years entitled and stoned may be the only way to survive them.
Spot-on Asombra. I see those miserable maggots with better phones, cars, etc, than I have. I try to work hard and be responsible, setting priorities (e.g. health insurance) when I establish a budget. Yet, those pathetic, lazy, irresponsible slugs can go out and live the good life, at my fuckin expense. That's the Democratic Party philosophy, just turn the hardworking, decent people into slaves for the pieces of shit that populate this Earth. Schiff is right - it's damn THEFT!! and they're getting away with it, which is what infuriates the hell out of me. You're right - Universal Suffrage? My ass, it's Universal Abuse, by the lowest elements in our society!!
I've read most of one of Schiff's books and I liked it. Given that and even given Schiff is right with his rant, I hate seeing him get more attention in the media. He lost his investors many hundreds of millions (maybe billions) of dollars, and more of his economic predictions have been wrong than correct. Don't be fooled by the 'Schiff was right' youtube videos. His argument about taxes may have merit but his father is in jail as a tax felon and I really think those optics are not helpful. A better, purer, much less tainted messenger is required.
Speaking of failed messengers ... Anyone see Ben Stein's (former Nixon and Ford speechwriter / conservative wunderkind / 'Expelled' star, today's RINO?) column in American Spectator from today ...
http://spectator.org/archives/2012/12/10/skyfall-times-seven
"even once income taxes go up to Clinton levels, still that won't be enough. We have to be realists: supply-side got us into a deep hole. Now, we have to pay the piper to get out of it. We owe that piper a lot of money and our good times, tax-wise, are over forever. Sad, but that's what happens when we make mistakes. We have to pay for them. Please don't bother writing me telling me what a horrible person I am for not recognizing that low taxes pay for themselves by generating economic growth. That's just a fairy tale, for one thing, and the longer we believe it, the deeper in the hole we go. Yes, I know this contradicts Friedman, but I also know Friedman was occasionally wrong. He thought, for example, that the post office was a real threat to freedom. He was a thorough genius and a great man, but even great men are often wrong."
Everyone should read/listen to Peter Schiff.
Also, asombra: you're right that "People who cannot get their own personal shit together are not fit to influence the lives of others, and they can do exactly that by being able to vote." But it's also true that even people with their shit together, however subjectively that's determined, are not fit to influence the lives of others, when those others are peaceful (not harming the life, liberty, or property of anyone). So eliminating "universal suffrage" only tinkers at the edges and doesn't cut to the core of the problem - political democracy itself is illegitimate and antithetical to liberty: http://laliberty.tumblr.com/post/14024581698/on-the-illegitimacy-of-democracy
@deganmiles
Ben Stein is a horrible, supply-side statist who is much more wrong than right. Good to see him acknowledge the problems with supply-side economics, except that now he's reverting to Keynesianism instead. For someone who has allegedly read Schiff's books (I have serious doubts), you seem to have a failure to recognize the enormous economic fallacies in Stein's piece.
Peter Schiff, on the other hand, is much more right than wrong - especially on the Austrian fundamentals. And I only disparage people who commit aggression against others, so I don't view his father's "crime" as too big a knock on his character (particularly since the judge failed to allow him to present evidence). Furthermore, even if Irwin Schiff was everything he's claimed to be and worse, one must not hold the son accountable to the crimes of the father.
Machete, right on both comments.
Machete: "For someone who has allegedly read Schiff's books (I have serious doubts), you seem to have a failure to recognize the enormous economic fallacies in Stein's piece."
Huh? I said Stein was a failed messenger, and was turning into a RINO ... My excerpt of his writing was, I thought, clearly in support of that last point. Nowhere did I even remotely defend anything he said, so your comment about not recognizing fallacies in his piece is puzzling. Basically, all I said about Stein was critical of him.
You're right; I guess I did misread you on Stein. Apologies.
All points stand, however - even if that charge does not apply.
Basically, all the talk we're hearing this day is meaningless blah, blah, blah. There is no solution to the problem of the national debt that will not require changes that the nation will not willingly undertake.
The entitled class do not want their entitlements taken away, and the producer class are becoming fed up with working so that others don't have to.
The resolution to this conflict will not be peaceful.
I am discouraged by what I see in our nation these days, we are a place where free contraceptives and abortions are a "right", and a right to work is a bad thing to support.
We subsidize sloth and punish accomplishments, and "I want" is justification to take from others with the assistance of government force.
The Federal government's unfunded liabilities total $121 trillion dollars, and our national debt is $16 trillion.
We have mined 5.3 billion troy ounces of gold in recorded human history, at today's market value of $1,700/oz, that translates to just over $9 trillion US. IUf we owned all the gold mined in the history of the world, we wouldn't have enough money to pay off our debt.
We're screwed, the politicos and the intelligentsia know it, and they have no clue how to stop the country from crashing so what they do is throw gladiators in the arena to entertain the rubes in the Maenianum Secundum, in the hopes that they don't notice the smoke rising from the fires consuming what was once a great nation, until it is too late to do anything but flee the flames.
We can't "tax the rich" our way out of this mess, they know it, and the realists among us know it. Taxing the income of people who live off the benefits of their accumulated wealth in order to generate revenues to service a trillion dollar plus deficit, a $16 trillion (and rising) debt, and $121 trillion in unfunded liabilities is smoke and mirrors.
A trillion seconds ago, we were Neanderthals learning how to not be prey, and becoming predators. Sixteen trillion dollars in debt may be the catalyst that turns the United States prey in a hostile world.
Sadly, I am starting to believe that my parent's sacrifice bought just a one generation dodge from the tsunami wave that is international Communism.
"Sadly, I am starting to believe that my parent's sacrifice bought just a one generation dodge from the tsunami wave that is international Communism."
I feel this more and more each day. Despair is a bad thing. But what's worse is the total blithering idiocy of the folks who have gleefully jumped on board this sinking ship...
The US left has long been doing its version of what Castro did in Cuba: appeal to people's worst tendencies and encourage delusions of entitlement, thus creating a dependent client/minion class it can manipulate and use against the better elements in the society--and let's face it, statistically speaking, those who are average to mediocre and worse are always a majority. The left is VERY aware of those numbers.
The left claims to "speak truth to power" but never speaks truth to dysfunction. Instead, it strokes and pets it and encourages it to feel victimized and cheated: "There, there, you're not to blame; it's somebody else's fault." There's a LOT of dysfunctionals who can vote, and guess who they vote for?
[...] asombra: The left claims to “speak truth to power” but never speaks truth to dysfunction. There’s a... [...]