If blacks are to receive multi-million- dollar reparations from whites for the crimes of slavery and “Jim Crow” committed generations ago, will whites be able to “identify” as blacks, “transition” into being blacks and thereby join in collecting those reparations?
This blog is a commentary on contemporary business, politics, economics, society, and culture, based on the values of Reason, Rational Self-Interest, and Laissez-Faire Capitalism. Its intellectual foundations are Ayn Rand's philosophy of Objectivism and the theory of the Austrian and British Classical schools of economics as expressed in the writings of Mises, Böhm-Bawerk, Menger, Ricardo, Smith, James and John Stuart Mill, Bastiat, and Hazlitt, and in my own writings.
Monday, May 22, 2023
Wednesday, May 17, 2023
The 4th Amendment Vs. Income-Tax Audits
An income-tax audit is a form of search. It is a search for unreported income and for deductions that are not allowed under the tax code.
The 4th Amendment to the US Constitution reads, “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”
As I understand the 4th Amendment, it implies that
every income-tax audit should require a Warrant signed by a Federal Judge and
specify the particular probable cause on which it is based and what particular papers
or other things are to be seized.
Has the attempt ever been made to hold the government to this standard that is implied by the 4th Amendment?
Sunday, May 14, 2023
Inflation Is In the Paper Money: Some Examples
Did you know that today you can buy a brand new economy-type car, such as a Honda Civic, for the same price people paid 100 years ago for a Model T Ford?
The price
of each is/was just $300, in $20 US gold coins, each coin containing an ounce
of gold, which quantity of gold has a current market price of 2,000 paper
dollars. Fifteen such coins have a paper-dollar market value of $30,000, just
about the price of a new Honda Civic.
Thursday, May 04, 2023
100 Hours Plus of Reisman's Lectures on the Economic Theory and Political Philosophy of Capitalism
To all supporters of capitalism and economic freedom, please know that thanks to Houston attorney Stephan Kinsella, more than 100 hours of lectures by George Reisman, who studied under both Mises and Rand, have been made available free of charge on YouTube.
The
necessary links are https://www.stephankinsella.com/reisman/