When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676

They call it Tax Reform. A Jobs Bill. That’s what it must be, right? Journalists and commentators are playing the same old game. Argue a proposed piece of legislation on its merits. Time to reset the boundaries in When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

Freedom Of Choice

While listeners to The Bob Davis Podcasts always have the freedom to choose what they think is right, I want to introduce the concept of marginal improvement. Legislators on both sides of the political spectrum talk big about ‘reform’. Usually though they make what really are marginal changes. This is especially relevant when we’re talking about the tax code.

The Real Football Game Is Congress

Team Red moves the ball back to the Blue thirty yard line. It’s hailed as a great victory. Team Blue moves the ball back to the Red twenty yard line a few years later. These are what both sides call marginal improvements. Meanwhile, as economist Milton Friedman famously suggested, they keep getting elected by making the tax code more complicated.

Budget Neutrality Isn’t A Thing

Enter a legislative concept called Budget Neutrality. The idea every expenditure must be ‘paid for’ with tax increases, or budget cuts. You think Tax Reform means lower taxes. What they’re really doing is taking away tax deductions and loop holes, and increasing our overall tax. The sad part is, it’s not their money, it’s our money. In When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

What Is Real Reform?

If you want real reform. The end to this kind of corruption? Then the power of the federal government to tax our incomes and our property must be permanently eliminated. Should corporations be taxed at all? Do you have property rights if you pay property taxes? How does government pay for the wonderful things both sides wants it to provide? We talk about it in When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676.

Already Socialists

So called conservatives like to argue the merits of capitalism versus socialism. It seems like I’d be on pretty safe ground if I suggested the United States has been collectivist for decades. Our economic system is not so much capitalist as it is a controlled market economy. Our elected Kings and their privy courts control our behavior and our futures with regulation and a tax code so complex, were it to be proposed as a single law in its present form, it would cause a revolution.

(Editor’s Note: While the first actual income tax in the United States was levied during the Civil War, it was later repealed as ‘unconstitutional’. Several attempts were made to establish an income tax through the late 1800’s which were unsuccessful, until the 16th amendment, ratified in 1913.)

Sponsored by Ryan Plumbing and Heating of Saint Paul and Reliafund

When Tax Reform Isn’t-What Congress Giveth It Taketh Away-Podcast 676

Podcast 576-Bob Davis Podcasts Radio Show-54

Podcast 576-Bob Davis Podcasts Radio Show-54. Hillary’s recount demands and Fidel Castro’s death prove real news stories are out there. Podcast 576-Bob Davis Podcasts Radio Show-54 features a look at the opportunities and challenges confronting the people. I have no endorsement of any major candidate to defend. I have no wish to add to the media reactive political noise. What I can do is help people break out of the political box, by asking some important questions. If Donald J Trump is chosen by the Electoral College and inaugurated in January of 2017, the Republicans will be in the best position to control the Federal and State Governments in decades. However, celebrating republicans should keep in mind, most elected republicans leaders are still ‘establishment’ types. Despite his promises suddenly Trump is backpedaling on repealing the Affordable Care Act, and prosecuting Hillary Clinton. His top advisors are discussing a trillion dollar stimulus package for infrastructure. He’s pulling back on the ‘big beautiful wall’. ‘Moderate’ republicans are also pulling back on  trade policy and managing expectations on foreign policy. It is doubtful republicans will address tough economic challenges with policy fostering dynamic economic growth. While we’re lost in debates about tweets from Trump Tower, The US economy is hampered by too much regulation, excessive debt and spending. Many of the so called social problems in this country can be attributed at least in part to low employment and slow or no economic growth since 2008. This is why it feels like we’re living in the Matrix. With a technology revolution as significant as the industrial revolution we need new ideas about society, politics and government. Instead, we have institutions designed for an agricultural or industrial age that don’t serve us anymore. On top of all that are demographic changes. The Baby Boom population is aging rapidly. Younger people have different ideas about politics, government and society. The future belongs to these younger demographics, and with different ideas about society, ‘Conservative’ and ‘Liberal’ mean different things. To address the challenges of the future will require more of us than reacting to tweets, the latest outrage, or someone’s personality. Sponsored by Ryan Plumbing and Heating of Saint Paul, Hydrus Performance, and X Government Cars.[powepress]

Podcast 234

Market Plunge. If it wasn’t for Ebola, this week’s Market Plunge would be the top story and we’d all be talking about it. Was it really less than a month ago that President Obama said the market and economy had come roaring back? And this week the market gave back all the gains so far of 2014. Will it come back. Analysts aren’t so sure. As the rest of the economies in the world contract, all hope was placed in US economic growth which the fantasy world created by the media hyped. Bad retail sales numbers this week dashed those hopes. Meanwhile the world’s governments and central banks that depend on inflation to wipe away debts, are very concerned about disinflation turning into deflation. Are lower commodity prices a good sign, or a bad sign? In the final analysis, the US economy will probably not be enough to act as a counterweight to fading growth in the Euro Zone and China, even with lower commodity prices. The worry on Wall Street? Faltering demand among consumers. Surprise! While the President touts economic ‘recovery’ the number of Americans on SNAP benefits (in other words Food Stamps) skyrockets, the clearest indication yet that the newly employed are in low wage part time jobs, and those out of the work force may stay out as long as government programs pay them to. Not a good combination, and certainly not one that indicates dynamic growth. What’s going on? Steve Forbes has five suggestions that are pretty good. The upshot? We’re a long way from the kinds of radical reforms that will change the scope, cost and size of the Federal Government and get things back on track. It isn’t gridlock causing the problems, its the people. It’s our politics. How do we put away creaky old Keynesian concepts moderate Republicans, democrats and progressives have championed going back to the New Deal? How do we cut away regulation, spending and taxation and reduce government power, so that new decentralizing technologies can empower the individual to innovate, generate tomorrow’s successes, and power the US out of the malaise we find ourselves in? Yes, there are Republicans afraid of radical change just as there are democrats afraid to reduce the size and power of government. We have to stop expecting creativity, innovation and entrepreneurial instincts from politicians. News Flash! Your congressman is not Steve Jobs. Not by a long shot. Some ideas to consider when thinking about the other major story chronicling the failure of ‘big government’ these days; The economy. Sponsored by Depotstar

Podcast 208

On The Road. 2700 Miles from Chicago, Illinois to Phoenix. The first leg of the trip takes The Bob Davis Podcasts from Chicago to the middle of Iowa, and a pouring rain. What is the take away from the IMTS; The International Manufacturing and Technology Show? For people breaking under a steady diet of doom, gloom and alarm from the media … for those who think ‘manufacturing’ in America is ‘dead’, this would have been a very instructive experience. Innovation in America is not dead. A manufacturing and technology show that filled Chicago’s McCormick Center, with big and small businesses from across the globe. The first experience of ‘The Big Trip’ is that innovative things are going on everyday in this country, it’s just that the people who run our media don’t understand any of it. If the United States ever is able to generate dynamic economic growth again there are many innovations that will produce many new products, each of them a revolution in itself. Slow growth means only the big companies have the cash to invest in new technology. It is hard to watch engineers, managers, academics and small business owners spend almost 6 hours in a workshop talking about these processes, and then find out our media has spent all day talking about an NFL player who beat up his wife. Sitting at a  ‘Pilot’ in Western Iowa right now, cursing slow upload speeds, and trying to decide whether to push on to Nebraska, or crash in the front seat of the Crown Vic. Follow the rest of the trip with podcasts everyday from the Road. Chicago to Arizona, and all the buffalo Jerky and Macadamia nuts you can eat! Sponsored by Sedation And Implant Dentistry of Saint Paul. 

Podcast 191

Minimum Wage. A Stillwater Minnesota restaurant is under fire from rabid leftist netizens for adding a .35 cent “minimum wage fee” to the bills of customers to compensate for a 75 percent increase in the minimum wage in Minnesota. Can the ‘price of labor’ be set by Government? Get ready for an onslaught of ‘junk research’ ‘proving’ the minimum wage decreases unemployment. Is it valid? How is the minimum wage like the French Revolution? Meanwhile, President Obama says ‘Congress’ should ‘end’ corporate inversions – the practice of buying or merging with a foreign company and moving the home office out of the US. The solution? Make it Illegal? Sick the IRS on firms that have strayed from obedience to Obama? What about lowering the US corporate tax, currently now the highest in the world. And what are the top investors in companies that invert? The answer may surprise you. Meanwhile, the 1 percent continue to legally avoid paying tax. Actor and liberal activist Robert Redford, who made millions from selling his stake in The Sundance Channel, says he doesn’t owe New York a cent in taxes since his S corporation already paid taxes in Utah. Pay your fair share, huh? And what about Robert Reich, former labor secretary in the Clinton administration, currently on the hustings condemning the “1 percenters” for creating no social value. Reich currently earns over $250,000 a year for teaching one class at the University of California, not to mention his earnings for speaking and books. One percent indeed! And Ebola continues to frighten people. Africans are now angry they aren’t getting the ‘vaccine’ the US has given to two of its citizens. Is it a vaccine? Has it cured them? Finally, there is proof the media is biased. A secret cabal of left wing journalists collaborate in private to gain support for their appearances in media, and write articles to further the left’s goals, and never reveal their association in the articles they write. Sponsored by Sedation and Implant Dentistry of Saint Paul.

Podcast 190

Ebola! Can Ebola be transmitted through the air? Are Republican Congressmen spreading panic by suggesting illegals coming from countries with a history of Ebola outbreaks, could bring the disease into the United States? Is it wise to bring Ebola infected Americans back to the United States for treatment? Is the outbreak a ‘false flag’ attack, like everything else that happens? Do you know how to treat Ebola if you get it. Meanwhile, there are two potentially far more dangerous problems brewing with Russia and Ukraine, and The Islamic State. Russia has beefed up their troop strength on the border with Ukraine, while Armenia (supported by the Russians) and Azerbaijan (supported by NATO and Turkey) are clashing. The Islamic State has control of a Dam in Northern Iraq, and oil fields in Syria. What’s ‘The West’ doing? Nothing. What’s the remedy for US companies moving their HQ’s to low tax countries like Ireland and the Netherlands? How about an loyalty oath? Sound a little…fascist? It’s the latest suggestion from the Left on how to ‘make’ US Corporations pay their ‘Fair Share’. And what about the Economy? 4 percent GDP growth is good, but if you average 1st Quarter and 2nd Quarter growth you get about .9 percent. Still, moribund growth at best. While Obama can crow about it, we’ll see if he is crowing about it later this fall when 3rd quarter numbers are released. And, is the coldest summer in a long time depressing people? Sponsored by Autonomous Cad.

Podcast 122

Technology disrupts and decentralizes central powers, and amplifies the power of the individual. We’re just entering the second industrial revolution. Making this technology revolution work for us will be a tall order. To avoid being pulled down by the partisan bickering these days, liberty loving people need a mission. What if the vision of a strong central government – sold to us over the last 150 years – is exactly the wrong vision for dynamic growth and American leadership in the world? What if the long forgotten Jeffersonian Vision for America, is the vision we need in the 21st century. Sponsored by Ryan Plumbing and Heating of Saint Paul