Die oberen 10 Prozent der Einkommensbezieher zahlen die Hälfte der Lohnsteuer

So oder ähnlich ist das Verhältnis in den meisten westlichen Ländern!

Eine Form der staatlichen Enteignung, wie im Kommunismus nur subtiler und demokratisch legitimiert.

Die Lösung heisst flat tax, ein einheitlicher Steuersatz für alle Einkommen!

Die oberen 10 Prozent zahlen die Hälfte der Lohnsteuer

Can We Tax Our Way to Equality? | PragerU

Very recommendable! Expropriation by taxation was never a good idea!

What’s Driving Russia’s Biggest Property Redistribution (expropriations, nationalizations) in Thirty Years?

Putin the Terrible at work! Arbitrary, lawless expropriations like in the Soviet era have returned!

"Property rights in Russia have become yet another victim of the ongoing war in Ukraine. Since the full-scale invasion, we have seen assets owned by foreigners nationalized via presidential decree; prosecutors and courts overturn decades-old privatizations to benefit members of President Vladimir Putin’s inner circle; property owned by residents of occupied Ukraine who oppose Russian rule handed to decorated Russian military veterans; and companies, land, and real estate taken off those designated as “extremist.” ..."

What’s Driving Russia’s Biggest Property Redistribution in Thirty Years? - Carnegie Russia Eurasia Center "In Putin’s Russia, property rights have become casualties of war, with a precarious reliance on personal approval supplanting legal frameworks, foreshadowing potential chaos in a post-Putin era."

Steuerzahlergedenktag: Ab Mittwoch arbeitet der Deutsche für sich selbst

Sollte man jedes Jahr daran erinnern, wie tief der Staat in unsere Taschen greift! Enteignung durch den Staat!

Stellen sie sich vor, sie könnten direkt über die guten Zwecke bestimmen für die sie ihr Einkommen ausgeben möchten, wenn die Steuern niedriger wären.

Steuerzahlergedenktag: Ab Mittwoch arbeitet der Deutsche für sich selbst Die durchschnittliche Belastung der deutschen Arbeitnehmer mit Steuern und Abgaben sinkt 2023 geringfügig auf 52,7 Prozent des Bruttoeinkommens. Das zeigen Berechnungen des Bundes der Steuerzahler, die immer wieder auf Kritik stossen.

The 30% land & water by 2030 Big Government Land Grab: Insidious Intent and Catastrophic Consequences

Very recommendable! I had only time to watch about 2/3 of this video. This is an insane Big Government socialist policy! Need to be stopped!

NIMBYism vs. Gentrification: The Truth About the Housing Crisis in the U.S.

Recommendable! Houston is one of the few big cities in the U.S. without zoning laws!

China's super-rich suffer massive losses and are threatened with higher taxes etc.

Recommendable!

The state of environmental, social, and governance (ESG) scores state by state

ESG is a form of ideological expropriation. ESG is an attempt to control and command businesses based on ideology! Hopefully, it will be soundly defeated and become another footnote in history!

It is bad enough that the U.S. Securities and Exchange Commission is trying to enforce ESG reporting rules!

Source

High Marginal Tax Rates on the Top 1 Percent Earners? You bet!

The prestigious American Economic Association just published following article in their journal Macroeconomics. What a junk!
Caveat: I do not have access to the full article. Perhaps the AEA should change their policies and open up their articles to the general public!

When economists sell expropriation as science!

From the very brief abstract:

"... We construct a large-scale overlapping generations model with uninsurable labor productivity risk, show that it has a realistic wealth distribution, and numerically characterize the optimal top marginal rate. We find that marginal tax rates for top 1 percent earners of 79 percent are optimal as long as the model earnings and wealth distributions display a degree of concentration as observed in US data."

High Marginal Tax Rates on the Top 1 Percent? Lessons from a Life-Cycle Model with Idiosyncratic Income Risk - American Economic Association (no public access)

FAQ on Biden's Extension of the Eviction Moratorium

Recommendable! What the demented and senile 46th President and lifelong career politician did was unlawful and unconstitutional! An impeachable offense!

This is an act of expropriation! This is unamerican!

"... The CDC’s eviction moratorium shifts the pandemic’s financial burdens from the nation’s 30 to 40 million renters to its 10 to 11 million landlords— most of whom are individuals and small businesses. In litigation documents, landlord associations claim they’re losing between $13.8 and $19 billion each month in unpaid rent. In late May, the Urban Institute estimated the amount of back rent then-owed to be about $50 billion. ..."

FAQ on Biden's Extension of the Eviction Moratorium | Cato at Liberty Blog

Judge orders Biden administration to respond to lawsuit against CDC's new eviction ban by Friday

Good news! This unconstitutional extension of the eviction moratorium, which has lasted already way too long, must go!

This expropriation by government cannot be tolerated any longer! Why former President Trump has allowed this eviction moratorium in September of 2020 to go forward is strange to say the least!

"U.S. District Judge Dabney Friedrich gave the Department of Justice a 9 a.m. ET deadline on Friday to respond to an emergency legal challenge filed by the Alabama Association of Realtors late Wednesday, Reuters reports. ... the CDC's latest action is an extension of the same unlawful ban on evictions that has been in effect since September 2020. ..."

Judge orders Biden administration to respond to lawsuit against CDC's new eviction ban by Friday - TheBlaze A U.S. judge on Thursday ordered the Biden administration to respond to a lawsuit from a coalition of housing groups challenging a new eviction moratorium enacted by the Centers for Disease Control and Prevention.

Moderna, Pfizer stocks keep dropping after Biden backs sharing coronavirus vaccine patent

Another big blunder from the cognitively impaired 46th President of the United States! There was no need for this measure! To arbitrarily waive intellectual property rights is really bad policy! This is government expropriation plain and simple! Unconstitutional!

The 46th President is doing everything in his power to drive the economy into the ground! What a joker! He governs like a developing country potentate! Who is actually running the show in the White House?

I am sure no proponent of excessive intellectual property rights. E.g. copyrights are extremely excessive! I have blogged here, here, and here about it.

"In a historic move, the US government has announced that it supports waiving patent protections for COVID-19 vaccines, a measure aimed at boosting supplies so that people around the world can get the shots. “The extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures,” said US trade representative Katherine Tai in a statement. ..."

This U.S. Trade Representative was unanimously confirmed by a 98 to 0 vote in the U.S. Senate! Could she be a Communist Party of China mole? Her curriculum vitae on Wikipedia is very short and not very impressive!

Moderna, Pfizer stocks keep dropping after Biden backs sharing coronavirus vaccine patent Moderna CEO tries to soften the blow

In shock move, US backs waiving patents on COVID vaccines The development from the Biden administration draws cheers from public-health researchers and ire from drugmakers

Gary Gensler Signals Support for New Climate, Diversity, and Political Spending Disclosure Rules

Such extensive and wide ranging disclosure requirements unrelated to running a business are akin to socialism (government control and expropriation of private property) by other means! Such unnecessary and burdensome bureaucratic requirements will surely make U.S. companies sclerotic!

"President Joe Biden’s nominee to head the Securities and Exchange Commission indicated Tuesday that he would likely support new rules to force corporations to disclose their political spending activities and workforce diversity, and tighten disclosures around climate change, policies that critics fear would make businesses more susceptible to political pressure from the left. ..."

Gary Gensler Signals Support for New Climate, Diversity, and Political Spending Disclosure Rules

California Rolls Out Diversity Quotas for Corporate Boards

Crazy totalitarian California! Governor Newsom is a socialist fool!

This is another unconstitutional violation of private property! This is government expropriation by other means!

"... The new quota is the first of its kind in the U.S. and follows a similar California measure enacted two years ago that mandated female directors on all boards of the state’s public companies. ..."

California Rolls Out Diversity Quotas for Corporate Boards - WSJ California Gov. Gavin Newsom signed legislation Wednesday that will require the boards of publicly traded companies based in the state to have at least one racially, ethnically or otherwise diverse director by 2021.

EuGH: Genehmigungspflicht zur Kurzzeitvermietung von Wohnungen ist rechtens

Ein gefährliches Urteil! Massiver staatlicher Eingriff in Privateigentum! Wenn Richter sich als Sozialpolitiker aufspielen und sich auf Wohnungsknappheit berufen! Sollen doch Politiker bessere Anreize schaffen für mehr Wohnungsbau, Umwandlung in Wohnraum, Erleichterungen bei der Vermietung etc., etc.



Was hier auch wieder sehr bedenklich ist wie bereitwillig anscheinend das hohe französische Gericht war dieses hot potato an die EU Gerichtsbarkeit weiterzugeben anstelle eigene Lösung zu entwickeln!

Das macht hoffentlich nicht weiter Schule!



EuGH: Genehmigungspflicht zur Kurzzeitvermietung von Wohnungen ist rechtens

Ayn Rand - Those Evil Robber Barons

Recommendable!

Highly Progressive Income Taxation In Germany

Posted: 7/9/2017

Trigger

The German federal statistical office just released the latest income and taxation statistics for 2013 (latest available year, see e.g. here)

Tax And Expropriate The Rich

The German income taxation is highly skewed against those with higher incomes.

Only 2.2 million taxpayers of a total of 39.8 million pay about 55% of all income taxes in Germany. The top income tax rates of those 2,2 million taxpayers is either 45% (at annual income of about 251,000 Euros or higher) or 42% (at about 53,000 Euros or higher). Not to be outdone, 9.6 million taxpayers pay no income taxes at all.

Besides income taxes, the VAT (general sales tax) is 19% in Germany and you pay about 70% taxes on high priced gasoline and so on.

The situation is worse than in the U.S. if I am not mistaken, but it is not much better in the U.S.

The Big Government Bank Robbery Continues

Posted: 8/24/2014

Just read this opinion piece “Banking in a Time of Cholera Bank of America pays $16.65 billion for doing the feds a favor.” about the latest U.S. federal government extortion of Bank of America. I have blogged about this subject before several times.

What I am seriously wondering about why the CEO did not simply tell the federal government he would instantly sell CountryWide and Merrill Lynch again if necessary for $1 to any bidder.

As I said before, as the CEO of BoA I would have told the federal government to go to screw themselves! CEOs who have no spine have no business being CEO!

Big Government's $13 Billion Extortion Of J.P. Morgan

Update As Of 11/15/2013

Wall Street Journal (WSJ) reported today that the general counsel, Mr. Stephen Cutler, of J. P. Morgan has publicly complained about the fines here (Subscriptions only).

Mr. Cutler kind of helplessly and naive asked in a public panel discussion “At what point does this stop?”.

Mr. Cutler was previously known as an aggressive chief attorney of enforcement between 2001 to 2005 with the SEC. Lesson learnt: Attorneys who worked for big government before are not necessarily the sharpest knife in the drawer. And they might be quite dull when dealing with government attorneys (are you reading this Mr. James Dimon?).

WSJ reports Mr. Cutler “”followed the defense playbook …”. What an idiot! Pardon my French!

WSJ reports that Mr. Cutler “was a key part of the team that approved the 2008 purchases of Bear Stearns Cos. and Washington Mutual Inc.’s banking operations. The hurried acquisitions  ...” (emphasis added). History is full of irony, or is it not.

WSJ reports that CEO James Dimon “has defended the job done by Mr. Cutler. “Steve’s the best at what he does, and we’re lucky to have him.””

Perhaps it is time for James Dimon to step down?

By Any Other Name

What the People have witnessed is a blatant crime committed by big government against a private enterprise. This act is like a partial expropriation! Totally unconstitutional!

J.P. Morgan Chase was the only large bank, which received no bail-out money!

I believe, a lot has already been written about this subject along the  lines I am describing here. See e.g. here, here.

A Crucial Detail

“There's also the detail that close to 80% of the securities at issue weren't even sold by Morgan, but by two failing firms it bought at the government's request, Bear Stearns and Washington Mutual.” (source). At the government’s request is a Orwellian euphemism of what actually happened. Perhaps, one day we will learn more about this “government’s request”.

This should be taught to every high school kid in America!

Jamie Dimon Has No Backbone

Like so many other CEO’s of America’s large corporations he has no spine to tough it out with big government.

Or do the People have to believe now he is guilty of something and he just tried to hide it?

Before I would have forked over $13 billion I would have hired the best lawyers money can buy in America. I think, Jamie Dimon and other CEOs owed this to all the mainstream shareholders of America.

Similar Story - Bank Of America

See my previous blog post here.

Like Wells Fargo Before - Spineless

See my previous blog post about  it here.

Trampled Property Rights In Germany

Trigger

I just (10/12/2013) read this outspoken article in the online edition of my home town newspaper Frankfurter Allgemeine Zeitung titled “Enteignung der Hausbesitzer” (German language, meaning expropriation of homeowners).

German Constitution

The German post-war Constitution contains one peculiar provision in Article 14 (2) stating “Eigentum verpflichtet. Sein Gebrauch soll zugleich dem Wohle der Allgemeinheit dienen…“” (Private property obligates. Its use has to serve the general public as well.).

Since adoption of the Constitution in 1949, certain types of property owners increasingly expropriated, most prominently homeowners/landlords versus tenants.

According to highest court rulings, tenants have a right analogous to property rights to live in their rental abode.

Extreme Tenant Protection At The Expense Of Landlords

Landlords in Germany face incredible government mandated strict and comprehensive price controls regarding rent.

Landlords are incredible constraint to terminate rental agreements or to evict tenants. Generally speaking, a landlord can only legitimately terminate a lease agreement for genuine and convincing personal need (Eigenbedarf). German courts have predominantly decided in favor of tenants as if in dubio pro reo. Such court proceedings can easily take several years.