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Daily
Blog 10/29/02 - The ever-present hunger for more tax revenue has led 29 states to engage proposals to tax online sales. With the economy in the tank and less revenue coming into state coffers, money-grubbing politicans and bureaucrats are up to their usual tactics once again. God forbid the state governments would actually reduce spending to keep in line with tax receipts. Of course that will never happen. One must never forget that government spending is really just vote buying. Here, vote for me and I'll provide you with a handout. If you cut government spending, you reduce the chances for reelection. Power must be kept at all costs. Hence, states can't wait to tax internet sales. Taxing incomes is not politically feasible but taxing sales is. In the end I think most of these measures will pass without even a peep from the citizens. In the end, too many of us are on the receiving end of some type of government handout and will refuse to have the spoonful of gravy taken away from us. Read the story from the Denver Post. 10/28/02 - Yes, I am back after a long absence. I have been building a new business, Lifetime Wealth Creation Systems. Take a visit and discover money-making opportunites, free investment newsletters, free internet e-books, offshore programs, and much more. Lifetime Wealth wil also promote Capital Opinion and vice-versa, all in the effort to make money. As you know, I am a capitalist first and foremost. My weekly columns will now be quite infrequent although the blogs will continue each weekday. I am working on my Insider Trading book and will post drafts in the very near future. I'm very excited about this book even though it will take quite some time to finish. I'll begin my daily political blogs tomorrow. See you then! 08/31/02 - Is nothing safe from government investigators? If it involves money, apparently not. Now U.S. banks are being probed for providing wealth management services to wealthy clients. There services have become popular over the last ten years as more people increase their net worth. The services range from managing investments, setting up trusts, offshore management, and other financial services. The regulators are worried that banks will make overly-risky investments to satisfy their clients which could lead to reputational risks for the bank. The Financial Times sited Salomon Smith Barney allocating IPO shares for WorldCom execs in exchange for investment banking business. Why should government care how banks run their business? If a bank malinvests to the point of ruining its reputation, so be it. Life cannot be lived without risk. Entreprenuers take risks for the potential big payoff. Without risk, we would be the old Soviet Union; life according to someone else's plan. If the bank blows it on malinvestment, it will suffer financial losses as clients move their assets to a more reliable bank. That's the market at work. The last thing we need is more bureaucrats looking out for investors by harassing banks who give investment advice to wealthy clients. All bureaucrats look out for is their jobs. Read the story. 08/30/02 - First things first. What happened to Capital Opinion?!? Quite simply, the task of updating the web site every day with fresh commentary, news links, and my blog was taking far too much of my time. It was no longer a profitable use of my time. I am actively working on my Insider Trading book and have scaled back my weekly column. I'll continue to write my daily blogs but the columns will occur only when I feel like writing a longer piece. All of my past columns are still available here on the site. In the near future I'll be posting my book chapters on the site for critique and commentary. So now that is all clear, let's get to work. It's ranting and raving time! Freedom-loving activitst in the Tea Party state of Massachusettes have put a referendum on the November ballot eliminating the state's income tax. It would return about $9 billion to the citizens and throw the state government into fiscal chaos. Hallelujah! Naturally, both Republicans and Democrats in the state Assembly think it's a bad idea. Of course they do! Without the tax dollars, they have nothing to spend on their special interests and squeaky-wheel constituents. In other words, the would not be able to buy votes. Even if it were to pass, the government would not reduce spending. They would simply devise new tax schemes to make up for the lost revenue. Cutting taxes is one thing, cutting spending is damn near impossible. I applaud the efforts of the tax activists but in the end, the government will find another way to steal your money. Read the story. Freedom News from Free-market.net Business News from Yahoo! Finance Offshore Tax News from Tax-News.com Capital
Opinion is a daily blog and semi-frequent column written by Ryan Taylor.
It focuses on political and social issues of the day from a libertarian,
anarcho-capitalist point-of-view.
Copyright © 2002
Ryan S. Taylor |
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