Wayne Root: The Gold, Silver & Bullet Economy

Welcome to “the Gold, Silver and Bullet economy.” Great job Obama is doing as President and CEO of the American economy, huh? I don’t mean to say, “I told you so.” But I told you so. When I ran for Vice President of the United States on the Libertarian Presidential ticket, I played a modern day Paul Revere. My warning was “The communist is coming!  The communist is coming!”

I was among the first to sound the alarm about the danger of putting my Columbia college classmate in charge of the U.S. economy. I stated publicly, early and often, that at best, Obama is an incompetent community organizer with zero business experience who never created a job, made a payroll, or paid an employee’s health insurance – a radical who would manipulate the U.S. economy as a frightening experiment in union activism, affirmative action, social justice, and income redistribution. Or, at worst, Obama is a socialist or Marxist out to overwhelm the system and destroy capitalism. Unfortunately, BOTH descriptions appear to be true. 

From the results so far, it appears that America has hit the “Daily Double.” Obama is both a Marxist bent on the destruction of capitalism AND a naïve, dangerous fool with no clue how to create even one job outside of government or a union (with government funding).

Barack and Michelle Obama are our very own Juan and Eva Peron. Following the exact same game plan of massive expansion of government and unions, the Perons destroyed Argentina’s economy for generations, devaluing the currency to the point of hyper-inflation, and finally bringing about default, insolvency, and bankruptcy.

Take an honest look at where Obama and his radical cronies have put us. Our economy is in freefall. Real unemployment — including those Americans that have given up or are underemployed — is at or near twenty percent. ‘Real inflation’ — counting food and energy prices — is climbing. Annual deficits are headed for an unimaginable $2 trillion. The ‘real’ national debt (including unfunded liabilities, such as Social Security, Medicare and government pensions) is in the neighborhood of $100 trillion, money the taxpayers of America (and their children) are obligated to pay, but have no idea how.

Then there’s the biggest nightmare yet to face our country — the insolvency and bankruptcy of cities, counties and state governments across the USA. If you like the chaos and idiocy occurring right now in Greece…I mean Madison, Wisconsin…you’re going to love the next few years of chaos and rioting on the streets of America.

I have repeatedly predicted America would soon face an Egypt-like moment, with Obama’s entitlement-addicted supporters protesting, rioting and holding the U.S. economy hostage. Today teachers in Wisconsin are staying out of school, refusing to do the job taxpayers are paying them to do, threatening the lives of the Governor and GOP State Senate, and committing fraud by getting “sick day” letters from union-backed doctors. Today it is the Democratic legislators of Wisconsin committing fraud and refusing to do the job they were elected to do. Anger and chaos reigns in the streets of Madison. But tomorrow (or soon thereafter) it will spread throughout the USA.

Americans must face the fact that our country is out of money. There is no choice but to reduce the size of government, which means reducing the number of government employees and their obscene pensions. Madison is a preview of what is to come from even a modest proposal to do so.  Be aware, our streets could soon resemble those of Cairo.

Remember the Obama supporter who cried at his rally and said to the reporter, “Obama’s election means I’ll never have to worry about rent or gas again.” She’ll be in the streets protesting and rioting as it dawns on her that the gravy train may be over. How about $200,000 per year firemen in places like Las Vegas who, allegedly, have been cheating the system by fraudulently coordinating overtime and sick days? They’ll be in the streets alongside the $100,000 per year teachers of Wisconsin, as they all fear the gravy train has run dry. There will be massive protests, strikes, firings,  and economic disruption like America has never seen.

If current trends hold, the economy will continue to decline and government debt will continue to grow, threatening the national security and solvency of America. The real unemployment rate will remain in the twenty percent range, or scale to unimagined levels. And with the Fed desperately papering over the problem with credit, it eventually faces two ugly alternatives: hyper-inflation or an unparalleled credit contraction deflation.

Imagine the U.S. as a bankrupt, debtor nation with our economy in shambles, forced to fight a global World War III. See the turmoil and civil war occurring in the Middle East at this moment, threatening oil supplies. This disastrous, worst-case scenario for America and the world appears to be taking shape right now.

My advice in the face of economic Armageddon? Be Prepared. Invest in the only commodities enjoying a bull market: Gold, Silver and Bullets. Stock up — that’s the economy of the future.
 
Wayne Allyn Root, is the author of the new paperback, “The Conscience of a Libertarian: Empowering the Citizen Revolution with God, Guns, Gold, and Tax Cuts.” He is a Las Vegas oddsmaker turned Vice Presidential nominee. Root is available to the media to provide pre and post election analysis, discussion and debate. His website: ROOTforAmerica.com

97 thoughts on “Wayne Root: The Gold, Silver & Bullet Economy

  1. Jerry S.

    When I joined the Party back when my hair was still dark and my joints didn’t ache and my zeal was emience, the editor of our small state newsletter liked to end all his articles with “KEEP YOUR POWDER DRY”. It took decades but sadly it is truly a time when that is a statement most accurate! (Before the feds come knocking, I’m not advocating violence against anyone, only SELF DEFENSE, SELF DEFENSE my friends)

    No matter what you personally feel about Root, he’s not far off in his accessment. Do any of you really feel that B.O. HAS A CLUE? If the teleprompter failed there would be MAJOR TROUBLE or should I say EMBARASSMENT for him. Also, do any of you doubt he is a SOCIALIST with MARXIST ideals (leaning)?

    Another question for ALL of YOU ! What if gas and diesel at the retail american pump exceeds $5.00 per gallon and stays there, what will OUR economy look like? Some gloomy times ahead HEY?

    Bad times normally are BOOM TIMES for third parties. Instead of just going through the motions everyone who believes in alternative solutions (and parties) should be ready to put forth their greatest effort in their lives to EXPAND the CA– USE this year and next! The Rs and Ds have led us to this BRINK and they should receive ALL the blame due them!

    It’s past time to TRIM gov’t employee numbers at ALL levels. Past time (Root) to BRING our troops HOME and sale the hundreds of military bases on foreign soil and start USING the PEACE dividend we got when the “cold” war ended all those years ago. Lord knows we can’t afford this “POLICEMAN OF THE WORLD” any longer…

    KEEP YOUR POWDER DRY !

  2. Robert Capozzi

    mhw, sounds to me like Root is throwing in the towel, although some might call it “catastrophizing.” All hope is lost, buy gold and guns and hold up somewhere ’til after the dust settles. Why do politics in this environment?

    Good question.

    I still think that somehow, despite having a “Marxist” in the WH, we’ll muddle through. But it could all just be fate unfolding, the Mayan calendar proving to be a really advanced Farmer’s Almanac.

  3. Root's Teeth Are Awesome

    Root: “I was among the first to sound the alarm about the danger of putting my Columbia college classmate in charge of the U.S. economy.”

    1. Pretty pathetic how Root hates Obama, yet tries to coattail himself onto Obama’s success.

    2. Obama is not “in charge” of the U.S. economy. Presidents have relatively little power over the economy. Congress, the Federal Reserve, and Wall Street, among others, also have much say over U.S. economic policy.

    But like any huckster, Root is cunning enough to know that he’s appealing to a brain-dead customer base, who need to have things dummied-down.

    Root: “Imagine the U.S. as a bankrupt, debtor nation with our economy in shambles, forced to fight a global World War III.”

    Forced? By whom? Who’s going to “force” the U.S. to fight World War III?

    Perhaps Root means that foreign nations will demand freedom from U.S. dominance, making it harder for the U.S. to dictate terms. In which case the U.S. will use force to get its way.

  4. Jerry S.

    I don’t think I will pass up this opportunity to “ACT” as POTUS Mr. M.H.W. Since you ask.

    If they would have elected me to the house and then the u.s.senate all those years ago when I ran as a L, it would be about time for me to become POTUS (LOL).

    IF I was POTUS I would get ten to twenty of the best economists associated with the MISES Institute and I would try to make it FAIR for all not just helping the few at the expense of the many. The libertarian way is the fairest way.

    NO DOUBT ABOUT IT. Live and let live.

    In the mean time I would be putting some people on trial for treason. Fair trials now, BUT on trial for their LIVES. (tempted to bring them into court naked, blindfolded with dog collars and lease attached! Bull whips ready if needed.)

    IF I was…

    Oh well, we know IF ifs and buts were candy and nuts…
    ***

    The Military Is Not Defending The United States of America: http://www.youtube.com/watch?v=cVO0G2qA7n8&feature=player_embedded

  5. paulie

    Jerry,

    If the teleprompter failed …

    That has to be one of the silliest talking points out there. Presidents have been using teleprompters since well before Obama.

    Also, do any of you doubt he is a SOCIALIST with MARXIST ideals (leaning)?

    Yes, many people here have disagreed with that here when it has been brought up in past conversations. Also, please don’t SHOUT.

    Bad times normally are BOOM TIMES for third parties. Instead of just going through the motions everyone who believes in alternative solutions (and parties) should be ready to put forth their greatest effort in their lives to EXPAND the CA– USE this year and next! The Rs and Ds have led us to this BRINK and they should receive ALL the blame due them!

    It’s past time to TRIM gov’t employee numbers at ALL levels. Past time [..] to BRING our troops HOME and sale the hundreds of military bases on foreign soil and start USING the PEACE dividend we got when the “cold” war ended all those years ago. Lord knows we can’t afford this “POLICEMAN OF THE WORLD” any longer…

    Agreed completely, although I also see the possibility that things may devolve quickly past the point of electoral/partisan politics altogether, before the next election.

    Also, please stop posting in ALL-CAPS.

  6. paulie

    All hope is lost, buy gold and guns and hold up somewhere ’til after the dust settles. Why do politics in this environment?

    It’s precisely when things are most fluid/dynamic/transitional that politics – especially “fringe” politics – becomes most important.

    I still think that somehow, despite having a “Marxist” in the WH, we’ll muddle through.

    I don’t know. I guess we’ll see. Things could get very “interesting” very quickly.

    Mayan calendar proving to be a really advanced Farmer’s Almanac.

    I’ve read recently that the Mayan calendar has been misread by perhaps 50-100 years. You reckon that’s a false flag from the illuminati trying to trick us into not panicking prematurely, or what? 🙂

  7. paulie

    Pretty pathetic how Root hates Obama, yet tries to coattail himself onto Obama’s success.

    Many people have drawn an analogy to Root’s libertarian critics and his success in getting attention (both within and outside the LP).

  8. paulie

    Certainly not one of his better offerings.

    I agree with Wayne that the destabilized situation in the mideast, the looming budget/debt/entitlement crisis in the US, and the example of angry people taking to the streets and removing governments which may well spread to other parts of the world is something we shouldn’t just sweep under the rug.

    I see Obama as more of a corporatist than a Marxist, but I think Root may well be correct in a large portion of what he says here.

  9. Robert Capozzi

    p9: It’s precisely when things are most fluid/dynamic/transitional that politics – especially “fringe” politics – becomes most important.

    me: Could be. The fringe position of anti-slavery did lead in part to a 3rd party arising to supplant a major party in the mid-19th c. And the fringe position of socialism did arise to infect the major parties in the 1930s. Civil rights and anti-Vietnam War fringe players were able to somewhat carry the day in the 1960-70s. Fringe prohibitionists were fairly successful for a while, too, only to be reversed.

    My takeaway, though, is not all fringe ideas make it into the mainstream and fringe ideas are often focused on single issues. For me, though, liberty is a broad-based idea applicable in all aspects of the government/citizen relationship.

    Formerly fringe ideas generally also involve some amount of negotiation. If the theorists of the fringe ideas hold the negotiating second-handers to too high a standard, I would say progress is rarely if ever made. And if the fringe idea is flawed at root, it generally will not be applicable in practice. The fringe idea may contain “good stuff,” but if its premises are incorrect, the fringe idea collapses in its ability to attract the center to it.

    Hence, I comment on IPR!

  10. Brian

    What? Obama expanded unions? What are you smoking?

    Obama is not a friend of the union man and woman. He punted on card check and has been hands off on the current union protests. Obama is no friend of the worker.

  11. Alan Pyeatt

    Actually, I think most libertarians expected pretty much what we’re getting from Obama. It really didn’t take Paul Revere to see where this administration was going to take us. And while they haven’t turned around the economy by any means, the fact is that it’s more stable than it was during Bush’s last year in office.

    Also, I don’t think insolvency of local governments will result in rioting in the streets at all. Orange County, California went bankrupt a few years ago, and nothing like that happened. There certainly were problems, especially for government employees, contractors and vendors, and anybody who held Orange County’s debt. But we’ve seen state workers and contractors getting by on IOUs while waiting for the state budget to be approved, year after year. Certainly not good, but most people will be able to handle it.

    Also, America’s not running out of money. The Federal Reserve will see to it that we have PLENTY of money! What we’re running out of is wealth. Big difference, and we need to make sure we don’t let our “leaders” devalue our currency to reduce the effective interest rate paid on the national debt.

    I agree with Wayne’s advice though: It’s a good time to stock up on commodities, precious metals, and ammunition. Might want to add durable food (grains, canned goods, etc.) to that list, too.

  12. paulie

    Actually, I think most libertarians expected pretty much what we’re getting from Obama. It really didn’t take Paul Revere to see where this administration was going to take us.

    I agree, although I think Wayne is writing for a more general audience.

    And while they haven’t turned around the economy by any means, the fact is that it’s more stable than it was during Bush’s last year in office.

    I don’t know about that. Seems like another fed bubble to me. The question is when do they run out of faith and credit?

  13. paulie

    Also, I don’t think insolvency of local governments will result in rioting in the streets at all. Orange County, California went bankrupt a few years ago, and nothing like that happened. There certainly were problems, especially for government employees, contractors and vendors, and anybody who held Orange County’s debt. But we’ve seen state workers and contractors getting by on IOUs while waiting for the state budget to be approved, year after year. Certainly not good, but most people will be able to handle it.

    This is a different situation. The middle east instability could destabilize global energy markets and cause American “terrorism panic” to go into overdrive.

    If the US gets embroiled in a wider regional mideast war, where will the money (or more accurately, wealth, as you point out) to pay for it come from?

    The success of citizen protests in toppling foreign leaders is a powerful motivating tool to would-be street protesters everywhere. The meme is certainly being spread around in the US, as are some tactical studies of the mideast revolutions.

    The really interesting thing is what happens if several of these things happen all within the same time frame.

    Also, America’s not running out of money. The Federal Reserve will see to it that we have PLENTY of money! What we’re running out of is wealth. Big difference, and we need to make sure we don’t let our “leaders” devalue our currency to reduce the effective interest rate paid on the national debt.

    I agree with Wayne’s advice though: It’s a good time to stock up on commodities, precious metals, and ammunition. Might want to add durable food (grains, canned goods, etc.) to that list, too.

    Agreed. Also, water purification. There are some guides out there on some other things you may want to have ready.

  14. paulie

    What are you smoking?

    I don’t know who “”you” is here. Wayne does not smoke anything. For whatever it’s worth, I don’t either, although I used to smoke a lot of different things.

  15. wayne root

    Stable? Who just wrote that? Small business on Main Street is being wiped out. As that group creates 70% to 80% of all new jobs, good luck with the unemployment rate for years to come. With civil war spreading in the Middle East we are headed for $5 (and up) gas.

    What do you think that will do to U.S. economy? The national, state and local debt combined is now equal to the entire U.S. economy.

    If this is stable, you must have a different definition. Ask anyone that actually owns a business if things are more stable- the answer is a resounding NO! Ask anyone who owns a business if things are better under Obama than Bush? The answer from virtually all business owners is NO.

    That is why there are no jobs. Taxes kill jobs. And business owners are scared to death by Obama’s proposed tax increases.

    We all agree it is better to either ask current employees to do more, or hire only independent contractor/part time workers. And that my friends is the problem for the entire U.S. economy in a nutshell.

    Political leaders need to ask a cross section of business owners before they pass bills that always do more harm than good.

  16. paulie

    My takeaway, though, is not all fringe ideas make it into the mainstream and fringe ideas are often focused on single issues.

    Obviously, there are far more different kinds of fringe ideas than can make it into the mainstream. For example, I don’t think some of the political hobbyhorses that have earned their own special threads on IPR are likely to gain a great deal of support.

    Others, of a broader nature – i.e, socialism, fascism, or libertarianism – could, however.

  17. NewFederalist

    ” Ask anyone who owns a business if things are better under Obama than Bush? The answer from virtually all business owners is NO.”

    So are Republicans better than Democrats? If that is your point it seems to me you are self-affiliated with the wrong party.

  18. Wayne Root

    To New Federalist,

    Your answer is ignorant. Life is not black and white. It is grey.

    I’m on public record as saying both parties are terrible…both spend too much…both violate our rights…and both expand government too much. They are two bad choices.

    Having said that…I’m also on record thousands of times saying that Republicans are far better on economic issues. Over 90% of voters think economic issues are what is most important in America today.

    The GOP is still not even close to where I want them to be. But economically, fiscally…they are certainly by ANY standards more pro business and pro small business than Democrats.

    You may not think they go far enough on spending cuts or tax cuts…and I’ll agree with you. But that doesn’t mean that a business owner like me doesn’t see how much better they are than socialists masquerading as Democrats.

    Republicans are not looking to drive me out of business…or sick lawyers on me…or double my taxes…or double my unemployment insurance…or sick Obamacare on me…or quadruple my FICA taxes…or take away my home mortgage and charitable deductions…or demand new 1099 compliance laws that would put me out of business. It is Obama and Democrats that do all that.

    You may also argue that you dislike Republican views on social issues or civil liberties…I often disagree with them too.

    I stand for economic and personal freedom. That is why I left the GOP to become a Libertarian. But economic issues will always be first in importance to me.

    I guess those issues are first with Libertarian heroes like Ron and Rand Paul too- which is why they run as Republicans. There is no room whatsoever in the Democratic Party for anyone that believes in smaller government.

    All I’m discussing here is economics. And on simple economics, it’s not even close. Republicans are often guilty of too much talk, not enough action. But Democrats want to wipe businessmen like me off face of earth, steal our money, redistribute it, and give vast new powers to lawyers, unions and government bureaucrats. There is no comparison on those issues.

    On economic issues…I’d give Republicans a D.

    Tea Parties get a B or B+.

    Libertarians get an A-. Because you cannot earn an A until you get ELECTED. Without gaining power and a seat at the table, all you can do is talk.

    Democrats get a F-.

    Life is not black and white. It is grey.

    My issues as a small business owner and entrepreneur who works 16 hour days may differ from your issues.

    For all businessmen, it is a fact that Democrats are by far the worst.

    But wouldn’t it be nice to elect a true Libertarian/fiscal conservative to the U.S. Senate to join Rand Paul. One of these days I’d like to join Rand in DC.

  19. George Phillies

    “…my Columbia classmate…” Oh really? Had a change of heart here?

    “…The economy is in freefall…” What planet is this from? Personal Consumption Expenditures are now *above* where they were when the recession started.

    Even at the end of 2009 manfucturing was, well
    http://2.bp.blogspot.com/_otfwl2zc6Qc/TU6x-GtHQGI/AAAAAAAAO60/KRGiVg7iWFI/s1600/mfgun1.jpg

    The S%P 500 was up 28% last year, though if you planned your investments carefully you could have done much better.

    Readers interested in credible economic data rather than imbecilic ultra-right twaddle might find it interesting to follow

    Bonddad http://bonddad.blogspot.com/ [Bonddad thinks Democrats and Republicans are both not very positive.]

    Carpe Diem http://mjperry.blogspot.com/

    Libertarians should realize that Wayne Root pushing far right nonsense is not in any sense libertarian.

  20. paulie

    NF

    So are Republicans better than Democrats? If that is your point it seems to me you are self-affiliated with the wrong party.

    I think Clinton was better than Bush, but he had different circumstances, and a Republican congressional leadership for most of his time in office. So, I’m still glad I quit the Democrats when they nominated him. I have no intentions of going back.

    As Wes Benedict said,

    “Republicans are wrong on foreign policy, they’re wrong on social policy, and they’re lying hypocrites on economic policy.”

    Corollary: Democrats are wrong on economic policy, lying hypocrites on foreign policy, and lying hypocrites on social policy.

    There’s more to it than that, that is just a very rough guide.

    WR,

    Republicans are far better on economic issues.

    They talk a better game on economic issues.

    But look at this:

    During the Reagan-Bush and Bush Jr years “we” piled up a lot of debt. Under Democrats prior to Obama, this was not nearly as bad.

    Bush Jr had a Republican majority in Congress for most of his term, yet he grew government spending at the fastest rate in many decades.

    During Reagan’s and Bush Sr’s terms, spending as a percentage of GDP was higher than before and after they were in office. Taxes were shifted around (FICA vs income tax, closing deductions, etc) but overall remained about the same (or went up, if you count deficit spending as future tax money). Additionally, if you look at the budgets those presidents proposed (as opposed to what was passed) and consider that they had veto authority, it wasn’t just the fault of the Democrats in congress.

    During Bush Jr’s terms spending went up again. And, if you look at the long term, it’s the spending more than the taxes that you need to look at. Borrow and spend is, if anything, worse than tax and spend.

    Likewise, before Bush Sr, Republicans did not generally involve the US in major new military conflicts for many years, despite being in theory the more militaristic/hawkish party. Major involvement in Vietnam, Korea, and both World Wars started under Democratic presidents. Republican administrations drew the Korea and Vietnam conflicts to a close.

    What we have now, with Bush Jr. and Obama, is permanent and expanding war and permanent and expanding debt, plus destruction of civil liberties at home, spiraling out of control, no matter which party controls the white house and which party controls congress, and no matter whether the same party controls both or they are split.

    They all get an F anymore. Never mind their rhetoric – look at their actions.

  21. paulie

    “…my Columbia classmate…” Oh really? Had a change of heart here?

    Wayne has long referred to Obama as his classmate, although he says he did not actually see him there.

  22. paulie

    But economically, fiscally…they are certainly by ANY standards more pro business and pro small business than Democrats.

    I don’t see that borne out by their actual votes, such as on massive corporate bailouts (which after all started under Bush with many Republican votes in congress), entitlements, and military spending (which is, after all, spending, and a major component of our debt load). They do mouth opposition to taxes, spending, and regulation, and support for free market ideas, more so than Democrats, but where is it reflected in the voting record of Republicans in power?

    Republicans are not looking to drive me out of business…or sick lawyers on me…or double my taxes…or double my unemployment insurance…or sick Obamacare on me…or quadruple my FICA taxes…or take away my home mortgage and charitable deductions…or demand new 1099 compliance laws that would put me out of business. It is Obama and Democrats that do all that.

    So far, most of that is just rhetoric. Obamacare has passed, but it may be in legal trouble…and it started out as Republican Romneycare in Massachusetts.

    It’s true that Democrats throw some rhetorical bones to their support base. But do they deliver?

    What are the major new spending, taxes and regulations passed by Democratic administrations that have actually gone into effect?

    The New Deal and Great Society – but how about since then? Obamacare would qualify….but it is not in effect yet…and may not go into effect.

    The rest, at least so far, may just be Democrats blowing smoke, much as most Republican politicians blow smoke when they claim to be for limited governments (sure…..but where are the votes?)

  23. Bill Wood

    What we really see. Everyone I know has had up to a 12 % cut in pay in the last 14 months, or has had their hours cut back. Many I know have been unable to find a job. Price of gas rising faster than a rooster at dawn.Interest on savings below 1%, CDs mutual funds less than 2 % price of food getting higher. Not to mention things are looking worse for the near future,

  24. Wayne Root

    Paulie,

    So far…as a small businessman…Democrats have proposed and fought for so many new schemes and taxes that could destroy my businesses… that I cannot keep track.

    Thank goodness conservative Republicans have fought them every step of the way. You cannot credit Obama for not raising my taxes dramatically…he wanted to desperately…but he was blocked every step of the way by fiscal conservatives…and even a few blue dog Democrats who support business…and who understood the entire U.S. economy was hanging by a thread…and hinged on whether the Bush tax cuts were extended or not.

    It would have been the most brutal increase in U.S. history and would have been the final blow to many businesses- small and large. You cannot give Obama credit for extending it. He fought to end it, but lost.

    What Obama has in mind scares me. His 1099 rule that is part of Obamacare would have driven me OUT OF BUSINESS.

    I’ve been one of many businessmen to warn about it LOUDLY nonstop in the media…so the Senate voted 80 to 20 to remove it. I’m confident it will be stripped out before end of year.

    If Obama were to remove cap on FICA, I’d be wiped out. That is a fatal blow. And that is precisely what Democrats want very badly. So far Republicans have stopped this atrocity.

    If Obama were to eliminate the mortgage deduction…homeowners that he calls “rich” (like me) would lose our homes. You would decimate the housing market by 30% or more overnight, thereby driving the wealthiest homeowners into foreclosure and bankruptcy.

    Do you now understand why I’m so aghast and angry at Obama? His beliefs threaten to ruin my entire business empire. It could all be lost due to his policies. I’ve worked 16 hour days for 30 years to build my life.

    I think people on IPR who don’t own businesses, earn high incomes, or own homes…do not understand the fight we are in. To them…perhaps there really is no difference between Republicans and Democrats.

    But to business owners, independent contractors, entrepreneurs, investors, and high income earners (who almost always risk their own money) it is night and day.

    And it is frightening. Any one of the tax increases or 1099 requirements above could destroy my livlihood. Remember I don’t collect a safe check as a government employee…or a professor with a safe tenured job for life like Mr. Phillies. He is sheltered from the real world.

    I could go from $1 MM per year to zero in a flash and lose my home to boot, if I were to lose my business. Maybe you don’t care…except the hundreds of people that have worked for me over the years should care. And as I create several new businesses this year…the new people about to be employed by me should care.

    And since I spend hundreds of thousands per year…I spend $200,000 per year just on my mortgage…I spent $25,000 on the LP National Chair race…I spend thousands per month on homeschool education…all of that money enriches the lives of others…

    And makes the economy go and grow.

    What about the million dollars I’ve invested in stocks, gold, silver or businesses in just the last few years. The U.S. economy depends on investors like me doing just that.

    Kill my business with high taxes and millions of other small businessmen just like me…and that stops our spending…how many people lose their jobs?

    Taxes kill quality of life…hinder consumer spending…kill investment…therefore kill businesses…and therefore cost millions of jobs…and cause businesses to offshore jobs where taxes are lower.

  25. paulie

    Libertarians get an A-. Because you cannot earn an A until you get ELECTED. Without gaining power and a seat at the table, all you can do is talk.

    This is a good point. Power may well devolve to local levels in a socioeconomically-politically unstable situation, so it would be good to have libertarians trained in communication and with some kind of leadership background or gravitas so as to be taken seriously in such an event.

    After that, people can vote with their feet, at least where allowed to do so.

  26. Wayne Root

    Good point Paulie.

    As far as George Phillies…funny how he quotes rising stock prices to prove the economy is wonderful.

    Only a professor would think that.

    Stock prices are up artificially because Obama (and before him Bush) stole taxpayer money by the trillion to bailout and handout stimulus to their biggest campaign contributors (like GE). It was the biggest taxpayer theft in history.

    So big companies got it all…and they are public on Wall Street. Not a surpise they are up while government hands out fake money being printed by Fed and loaned by Chinese.

    That may have ended today. The market is at what I predict will be highest point for years to come. It sold off today. Investors will start to wakeup and realize we have been robbed…and deluded…and defrauded.

    The bubble is about to burst. Buy gold and silver and oil. Everything else is about to take a long ride down.

  27. paulie

    Wayne, thank you for continuing to participate in the conversation.

    Regarding Obama and the Democrats’ plans, I agree with you that they sound scary. Where I don’t necessarily agree is that they really want to do it.

    I think that red (or if you prefer blue) meat rhetoric is designed to excite the Democratic donors, volunteers and voters.

    After all telling them to vote for “Pro-War, Pro-Corporatist, Police-Prison-Military-Industrial-Wall Street-Banker Party A” over “Pro-War, Pro-Corporatist, Police-Prison-Military-Industrial-Wall Street-Banker Party B” is not going to excite anybody. Hell, they might stay home, keep their checkbooks closed, and even defect to the Green Party or independent candidates or something.

    So the Democratic leadership has to throw them some meat from time to time.

    But they don’t deliver. It’s BS, is what it is. Snake oil. Phony baloney.

    IMO, as a former active Democrat: The Democratic leadership does not intend to deliver on any of that. Just like the Republican leadership does not really intend to cut taxes, spending and regulation in any meaningful way, or for that matter take abortion back to the back alleys.

    It’s all just smoke and mirrors that they use to get a rise out of their base. And they use the other side’s empty rhetoric to scare their base. They are perfect mirror reflections of each other. Republican leaders scare Republican followers with the scary rhetoric of the Democratic leaders and vice versa. But the catch is: both the Republican and Democratic leaders know that they don’t have the votes to deliver on either set of promises, so they are free to promise away and blame each other.

    If you look behind the smoke and mirrors, the leadership of the Republican and Democratic parties are both comprised of multimillionaires and billionaires and their hangers on. They are not blue collar workers or small businessmen. If they go to church or synagogue, it’s probably only so they can be seen there, much as when they put on blue jeans, hardhats and flannel work shirts.

    How does a small minority stay in power? Divide and conquer. Set the small business owners, 9 to 5 ers, and the “reserve army of the unemployed” against each other. Get them to vote for the Democrats with extravagant promises and with scary stories about what the Republicans will do. Get them to vote for the Republicans with extravagant promises and with scary stories about what the Democrats will do.

    When you get up to the top, where the big money and the big politicians are, they have much more in common with each other than with either of their sets of supporters. And the rank and file supporters of both parties have more in common with each other than with the leadership of their parties.

    The people who vote for Ds and Rs, their bases of support – main street America – are being divided down the middle so the limousines of Wall Street and K Street can keep doing business as usual.

    And they are being divided with empty promises and empty fears.

    The Libertarians should not be playing into the hand of one or the other – we should be pointing out that this whole system is a sham, a fraud, a con game. Three card monte. Loaded dice. Call it what you want to….they don’t intend to deliver on what either side hopes for or fears.

    At least, that’s how I see it. More in a moment….

  28. paulie

    Stock prices are up artificially because Obama (and before him Bush) stole taxpayer money by the trillion to bailout and handout stimulus to their biggest campaign contributors (like GE). It was the biggest taxpayer theft in history.

    So big companies got it all…and they are public on Wall Street. Not a surpise they are up while government hands out fake money being printed by Fed and loaned by Chinese.

    I agree.

    That may have ended today. The market is at what I predict will be highest point for years to come. It sold off today. Investors will start to wakeup and realize we have been robbed…and deluded…and defrauded.

    The bubble is about to burst. Buy gold and silver and oil. Everything else is about to take a long ride down.

    You may well be right. Whether the bubble has ended or they manage to squeeze a little more juice into it, it does not seem sustainable with all the mountains of debt.

  29. paulie

    I think people on IPR who don’t own businesses, earn high incomes, or own homes…do not understand the fight we are in. To them…perhaps there really is no difference between Republicans and Democrats.

    I’ve been in a wide variety of economic circumstances, ranging from four years when I made over a million a year (but blew it all…youth is wasted on the young) to being homeless on the streets and everything in between. I’ve co-owned many businesses, but unfortunately I got cut out of the ones that succeeded and the rest have failed.

    I’ve partied with billionaires and once came very, very close to literally starving to death, as difficult as that may be to believe by looking at my fat self today. Not that any of that matters; anyone can know all this just from reading:

    And… I completely agree with you that what the Democrats propose would be a disaster if they ever had the votes to pass it.

    The only place we differ is that you believe they honestly buy their own rhetoric, and I do not.

    I just don’t think they are going to get enough votes. We have a divided government for a reason… it gives both Democrats and Republicans the ability to blame each other for everything that is wrong and make empty promises to their respective supporters.

    Meanwhile, both are busy working together hand in hand to slowly but surely make government ever bigger – at home and abroad, welfare and warfare, on social/civil liberties and economic/financial issues – because that is what benefits the real ruling class, which they are a part of. It’s designed as a redistributionary system for money and power…upwards.

    It’s a two-faced, one party system at the top of the pyramid of power. As long as the pyramid rests on the rest of our backs at the bottom, the view down here is that we are on opposite sides of the pyramid and if we don’t hold up our end it will come down on us. It works for the benefit of those at the top of the interlocking pyramid of hierarchies in business, politics, and other fields. But they only stay on top so long as we hold them up.

  30. George Phillies

    @33

    For the half of all Americans who are investors, stock prices being up is positive news.

    For all other Americans, PCEs hitting new records was good news.

    If you are the one and only unemployed person in America, for you the economic news is bad.

    Civil war in an important foreign country will always roil the stock market.

    It is reasonable to suppose there will be a progressive wave of these, finally reaching places like Saudi Arabia, China, and Israel–the last being the Islamite population demanding equal political participation, meaning their parties are welcome to join coalitions. Until that great tide of liberty comes fully in, which may take a year or two to come in or fade away, there will be occasional buying opportunities.

    “If Obama were to remove cap on FICA, I’d be wiped out.”

    You have large numbers of employees you are paying well over $100,000 a year? The FICA cap has no effect on the ill-paid. And you didn’t notice passing it on to them as a short-term pay cut? Of course.

  31. Wayne Root

    George,

    In case you have noticed…as a well paid and tenured for life professor…the REAL unemployment rate is in the range of 20%. That’s massive. Lots of people are unemployed- 1 out of 5- or underemployed…and they don’t have the luck of $100K per year guaranteed jobs, giant guaranteed pensions, and free health care for life… of college professors or government employees.

    Small businessmen like me are feeling the pain. It’s a bloodbath out there. Sooner or later, government employees will feel it to. The days of bloated salaries, giant pensions based on overtime and fraudulent sick days, and free healthcare for life are over. The nation and most states are broke.

  32. Jesse Bush

    I had an email forward to me that George Phillies is actually on the side of the government unions in Wisconsin…Dr. Phillies is this true or did someone distort your words?

  33. paulie

    @ 40 I got that email. It appears to be genuine.

    For a while IPR was getting copied on a bunch of back and forth that Dondero put us on. It was very annoying because we did not ask to be on any list, but it was acting as a list, and there was no way to unsubscribe.

    After asking about 20 times I think I finally got us unsubscribed.

    In the meantime, there was an argument about the Wisconsin government union showdown, and IIRC Dr. Phillies was the only one on that discussion who sided with the government unions.

  34. John Jay Myers

    Paulie, if I was an outsider to this party, your posts would make me want to support, donate to and join it. You would make me want to scream “THAT!!! That is what I believe!”

    You have a firm grip on exactly what we need to be saying in public, and how we need to say it.

    You do not scare people into believing they have to get rid of Democrats “at all costs” because of course that would mean not supporting us.

    Only when we clearly explain to people that the real problem is that at the top, the two parties are the same.

    Even if we do not win, at least we give people a chance to say “none of the above please.”

    This country is in a really bad place, and we need a message like yours to help lead people towards this party as a refreshing change.

    Thanks for your detailed responses, I will probably steal some of your post for a speech I am giving at High School tomorrow morning.

    Keep em coming.

  35. paulie

    JJM (and anyone else),

    Please do absolutely “steal” anything I write here. I don’t really care if you give me credit or not – spread it as far and wide as possible.

    I would be greatly honored to see my words in a John Jay Myers article, regardless of who is listed as the author.

  36. Tom Blanton

    OMG! This is absolutely without question the best article Wayne has written yet – perhaps one of the best articles laying out hardcore Reagan libertarianism ever written by anyone.

    I almost shot my load halfway through the article, but I held on until I got to this:

    Imagine the U.S. as a bankrupt, debtor nation with our economy in shambles, forced to fight a global World War III.

    Wow! Wayne is a man’s man and a political genius.

    Thank God the LP has Wayne exposing the evil Marxist in the White House for what he really is. I think we should all pray for Wayne now.

    Dear Lord, please don’t let the evil Marxist Obama tear down Wayne’s mighty empire and don’t let him destroy what’s left of your chosen nation, America. And Lord, all good Muslim-fearing Christians would be thrilled if giant lightening bolts from Heaven destroyed the evil ones in the White House. Then, you could make Wayne the President through divine intervention. Amen.

  37. Reagan's Ghost

    – perhaps one of the best articles laying out hardcore Reagan libertarianism ever written by anyone.

    When I was alive, I never went in for the doom and gloom stuff. It was morning in America. And so it will be once again. Vote Palin-Romney 2012! Let’s win one more for the Gipper.

  38. Steven R Linnabary

    Wayne-

    You have written another excellent essay.

    But a couple of relatively minor quibbles.
    1) I realize this is mere hyperbole, and hyperbole is something that I expect in politics to a certain degree, but the use of terms such as “Communist”, “Socialist” & “Marxist” have less meaning today than they did 30-40 years ago. Americans have short attention spans, and few people even remember anything about that era. 30-40 years ago just about any poli-sci or philosophy student could recite and debate the true meaning of the dialectic.

    2) The final paragraph appears to be a tad too apocalyptic. While I entirely agree on the need to stockpile goods, I have been saying the same thing since the mid-70’s and the Ford/Carter era. And I still believe that we should be prepared as much as possible for the inevitable. But for general population outreach, I wouldn’t be quite so strident.

    PEACE

  39. Matt Cholko

    Blanton is great.

    I agree with the meat of Root’s article about 99%. The only problem I see (and it appears that many others see the same thing) is that he (or you, if you’re reading this) places blame heavily on the Democrats. While Democrats are very much to blame, I believe that Republicans are just as much at fault.

    For the record, I am a small business owner, as I have been for virtually all of my adult life. I’m not sure how that makes my opinion any more important than anyone else’s though.

  40. paulie

    JJM, since you said “keep em comin” I got one more for you. Earlier I said

    Meanwhile, both are busy working together hand in hand to slowly but surely make government ever bigger – at home and abroad, welfare and warfare, on social/civil liberties and economic/financial issues – because that is what benefits the real ruling class, which they are a part of. It’s designed as a redistributionary system for money and power…upwards.

    It’s a two-faced, one party system at the top of the pyramid of power. As long as the pyramid rests on the rest of our backs at the bottom, the view down here is that we are on opposite sides of the pyramid and if we don’t hold up our end it will come down on us. It works for the benefit of those at the top of the interlocking pyramid of hierarchies in business, politics, and other fields. But they only stay on top so long as we hold them up.

    Now here is a neat trick. Imagine the pyramid of power I am talking about there as the bottom half of the Nolan diamond chart. If you imagine that it has a mirror reflection, we are at the top of that pyramid. If you look at that pyramid upside down …we are at the top…and you have the Nolan Chart.

    In other words as long as we keep our attention focused on the left/right axis of this chart (D vs R in politics) we are not looking at the up/down axis. And as power moves up the pyramid of power, it moves down the Nolan chart towards the bottom, in a see-saw gravitational pull.

    This gets a little hard to explain without drawing it….I hope that made some sense.

    If not, my waking consciousness may be fading…

  41. George Phillies

    It is my opinion that the Governor of Wisconsin showed up with a 144 page bill proposing radical changes, and no chance to consider them, have public hearings, read the bill–it was as cool as the way Bush passed the Patriot Act, except Bush had the votes, and the Wisconsin governor doesn’t.

    Indeed, even the state Chamber of Commerce opposes the current Bill, whose sole remaining effect is to eliminate collective bargaining over working conditions, except for labor unions that endorsed the governor in the last election.

  42. George Whitfield

    I agree with Wayne about investing in gold and oil. And I would add silver and uranium, too. I also agree that it is very difficult for small business owners these days. If a person has saved and invested and now is speculating in the natural resource and energy sectors they can do alright but running a profitable business with all the new and threatening taxes and regulations is daunting. We need to watch and see how Ron Paul does in the Republican Presidential nomination race. If he wins we should support him but if he does not we need to be positioned to catch the upswell of his supporters who will be looking for a small government alternative to the Democrats and Republicans. I trust we Libertarians will be ready, willing and able.

  43. WAR is ROTTen, WAR is EVIL, WAR is the ROOT of all EVIL

    As Thoreau said, stop striking at the branches, STRIKE THE ROOT!

    When the ROOT is ROTTen the Tree of Liberty WEAKENS FROM WITHIN.

    Money is not the ROOT of all evil
    WAR is!

    Stop striking at the branches, STRIKE THE ROOT!

    WAR is the ROTTen ROOT of all EVIL that ROTs the Tree of Liberty.

    Stop striking at the branches, STRIKE THE ROOT!

  44. David Colborne

    I have to be honest – though it would be absolutely fantastic for Nevada, especially in most of the corners of it that I like to hang out in, for people to buy lots of gold and silver, I just don’t buy it as a realistic hedge against hyper-inflation. For starters, this isn’t the 19th Century – we have a lot of uses for those metals now beyond “rare and shiny stuff we can trade with instead of the barter system”. Then there’s the issue of how much “valuable” jewelry there is out there, and how quickly people will trade wedding rings for a week’s worth of food, if it came down to it. Personally, I think you’re better off stocking up in barter-friendly goods, like survival gear, batteries, canned food, and so on. As an added bonus, you’d even be able to sustain yourself if you couldn’t find someone to trade with.

    Outside of that, I largely agree with the direction that Wayne’s going with the article, even if I disagree on whether Obama is a “socialist” (he’s actually far to the right of Nixon, policy-wise) and what to invest in if the economy goes apocalyptic. We’re not facing a recovery by any stretch of the imagination, and I’m sure our tax climate, both at the federal level and the state level, isn’t helping any. Toss in unsettled fuel prices, uncertain conditions in the Middle East, and a general sense that nobody seems to really know what’s going on, and it’s no wonder we’re still flying blind.

  45. Tom Blanton

    Sure, it’s easy for someone who is not a serious Reagan-Libertarian to make the claim that Republicans are just as bad as Democrats. But, that is just plain ignorant because life just isn’t black and white – it is gray, red, yellow, blue and various combinations of those hues.

    Take the budget. You have the radical left-wing Marxists proposing a budget of $3.8 Trillion that will devastate America, driving millions of small business empires out of business leading to higher taxes on high-income earners who can least afford it.

    But, the fiscally responsible free market supporting Republicans are proposing a budget of only $3.7 Trillion. Now, any fool can see which one is better.

    Not only that, the irresponsible Marxist Democrats will try to raise taxes on high wage earners, even while having a partial holiday on FICA, which will curtail speculation on commodities, forcing down fuel and food prices – while eliminating profitable speculation by investors.

    The Republicans will do the right thing and borrow money to fund the deficit, passing on the debt to future generations and thereby reducing the impact on millionaire Republicans.

    So, in a world that is gray, we can thank God that we have the invisible hand of history’s greatest libertarian, Ronald Reagan, guiding the GOP to act in a fiscally conservative manner. Let us now have a moment of silence to honor the great Ronald Reagan and contemplate the unpaid deficits from his years in office, the higher FICA taxes that saved the Social Security system, and the fall of Communism after Reagan told the Soviets to tear down the Berlin Wall.

  46. LibertarianGirl

    FYI , a terrible injustice is about to be attempted in Vegas, Harry Reid is going to try an do away with legalized prostitution , thus forcing women into far more dangerous situations , I hope wayne and the LPNevada jump on this huge opportunity with built in media …

  47. Michael H. Wilson

    I think it is important that the Libertarian Party and those who speak for it spell out what we think the government should do. In that vein I have a few suggestions.
    1st. While we believe that SSI should be abolished we propose eliminate that portion of the tax that businesses pay. Doing so would reduce the costs to businesses and encourage them to hire more workers.
    2. Begin the process of reducing the number of troops we have stationed overseas. The U.S. has 50,000 in Japan and Germany, 30,000 in So. Korea and 9,000 each in Italy and England.
    3. We call for the repeal and reduction in regulations that restrict alternative medical providers. Such a move will give consumer more choice, lower costs and help to eliminate the need to Medicare and Medicaid.
    a. We call for the repeal of Certificates of Need in the states where they are still on the books.
    b. We call for the abolishment of the state boards that regulate healthcare providers. These do little or nothing to protect consumers while they protect incompetent practitioners.
    c. We will hold medical professionals accountable when they ignore patient’s living wills.
    4. We call for the reduction in farm subsidies, especially the corn to ethanol program.
    5. We call for the elimination of all corporate subsidies.
    6. We support Rep. Paul’s efforts to audit and call for discussion on alternatives to the present system.
    7. We call for the repeal of the McCarran-Ferguson Act (we need to check the status of this. I understand that it is still on the book). As a result of this act each state regulates insurance as it wishes resulting in a balkanization of the industry.
    8. Repeal the Davis Bacon Act.

  48. Bryan

    The unions in Wisconsin have accepted the gov’s salary cuts and benefit cuts. The one thing they are standing up for now is his demand that they “yellow dog” and agree to not have any form of collective barganing beyond “cost of living increases”.

    If you really believe in individual rights, there is the right to assembly and association.

  49. Jesse Bush

    “FYI , a terrible injustice is about to be attempted in Vegas, Harry Reid is going to try an do away with legalized prostitution , thus forcing women into far more dangerous situations , I hope wayne and the LPNevada jump on this huge opportunity with built in media …”

    True true….

  50. John Jay Myers

    RE: Unions

    For the most part there is nothing unlibertarian about the idea of unions (in my opinion). I suppose most of my disdain for them comes in application.

    When unions use government to gain favor, that is when there is a problem.

    For instance there is nothing wrong with freedom of speech, to protest, or assembly or association, but if you need government to do it for you………… you are doing it wrong.

    So though I have been living in a cave on this particular issue so far, I think it is suffice to say that since they need government intervention to okay their plan, then it is not that libertarian of a plan.

  51. Robert Capozzi

    p34: The Libertarians should not be playing into the hand of one or the other – we should be pointing out that this whole system is a sham, a fraud, a con game. Three card monte. Loaded dice. Call it what you want to….they don’t intend to deliver on what either side hopes for or fears.

    me: Yes, calling a fraud a fraud sounds both true and winning theme. However, most Ls from a variety of schools of thought DO play the fear card as much or more than the Rs and Ds.

    It’s a fine line to walk, but I think it can be done. Call the fraud a fraud, yet point a way out of the morass by TRANSCENDING the morass. An L approach is in recent years becoming more mentionable in mixed company, I’d suggest in large measure because we collectively are losing our absolutism, sometimes haltingly:

    Exhibit A, this performance by Gillespie:
    http://reason.com/blog/2011/02/18/nick-gillespie-talks-budget-cu

    I’d of liked to have seen him point out that most government spending has NOTHING TO DO with helping the poor make ends meet, though, which is the core point that progressives just keep (somehow) winning on. Instead, Ls reflexively keep challenging the notion of a (chimerical) “safety net,” which itself is fearmongering, but it continues to have traction.

    Cede the point (at least for a while) with a negative income tax, and watch the walls come tumbling down.

    Or, we can keep playing Chicken Little….

  52. Distraction

    What Harry Reid is doing is a distraction away from bigger things going on. The goons that voted for this guy, I am not sure that his wining is done without voters fraud. The brothel in my opinion is a nether here or there. It doesn’t add to Nevada nor does it take a way. Harry Reid as usual is also on a power trip. Too bad our tax dollars pays for this crap.

  53. War and Empire Are Expensive

    Root: “Taxes kill quality of life…”

    The federal debt was raised by the GOP/Bush to pay for war and empire.

    Now taxes must be raised, and mortgage deductions ended, to pay for it.

    The GOP is as much to blame for it as the Dems/Obama.

    If taxes are raised on businesses, if mortgage deductions are ended, if businesses are destroyed and homes lost — much of the blame goes to our overseas empire, war on terror, national security infrastructure, and foreign aid (to Arabs and Israelis).

  54. LibertarianGirl

    no it isnt as important as say ending wars or many other lib issues , but what it is IS INTERESTING!!! its hard enuf for libs to attract media , most of our issues our boring and so are we. this could be a huge opportunity to pick up a ball and run with it. and ya thats the ulterior motive but at the same time this is an issue we say we stand for and noone else is gonna help.

    save women , save freedon , get media , make allies , um hello.
    below is the statement from my Libertarians for Saving Nevada Brothels FB page , sorry to highjack this thread , its just Root posts get the most traffic. P if you wanna make this its own story , awesome

    A PERFECT STORM OF OPPORTUNITY , A WIN/WIN FOR WOMEN , NEVADA AND LIBERTARIANS.

    LEGALIZED PROSTITUTION IS A HALLMARK OF NEVADA HISTORY AND ALONG WITH GAMING ESSENTIAL TO ITS UNIQUE EXPERIENCE WITH PERSONAL LIBERTY.

    NOT LEGISLATING MORALITY IS THE FOUNDATION THAT TURNED A BARREN DESERT INTO AN OASIS AND THRU-OUT THE DECADES HAS ATTRACTED MILLIONS OF FREEDOM SEEKERS FROM ALL OVER THE WORLD.

    PROHIBITING THE BROTHEL INDUSTRY IN NEVADA WILL NOT SAVE WOMEN FROM EXPLOITATION OR DANGER 1 IOTA. IN FACT , IT WILL PUT THEM IN FAR GREATER HARMS WAY BY TAKING A REGULATED , SAFE AVENUE FOR SEX WORKERS AND FORCING THEM OUT ONTO THE STREET WHERE THEY RISK JAIL/CRIMINAL RECORDS , DISEASE , PIMPS , DEGRADATION ETC.

    WITH THE NEVADA ECONOMY 1 OF THE WORST IN THE NATION , IT SEEMS ABSURD TO KILL A LEGITIMATE WORKPLACE FOR MANY WOMEN , AND LEAVE THEM W/O A JOB . NOT TO MENTION THAT TOURISM IS ALREADY DOWN ALONG WITH CONVENTIONS ETC. WE DONT NEED TO KILL ANY REASON THAT ATTRACTS PEOPLE TO OUR STATE , AND WHETHER WE LIKE IT OR NOT , LEGAL BROTHELS ARE A HUGE PART OF OUR ALLURE.

    IN FACT , IN LIGHT OF THE ECONOMY , NEVADANS/LIBERTY LOVERS AND ANYONE WHO LOVES WHY SIN CITY GOT ITS NAME SHOULD BE PUSHING FOR LEGALIZED BROTHELS IN CLARK COUNTY .

    SAVE WOMEN , SAVE SIN CITY , BOOST THE ECONOMY AND LET LEGISLATORS KNOW THAT THEY CANNOT CONTROL WHAT CONSENTING ADULTS DO WITH THEIR BODIES.

    WHAT HAPPENS IN NEVADA , STAYS IN NEVADA , AND THAT INCLUDES OUR SEX WORKERS…

  55. Nevada Brothels

    Are brothels legal in Nevada?

    I’d read long ago (over 20 years, I think) that Nevada left it up to the counties to determine whether to legalize brothels.

    In some counties, brothels are legal.

    In others (including Las Vegas’s county) brothels are illegal. IOW, prostitution is already illegal in Las Vegas.

    Is that not so?

    Besides which, Reid is a U.S. Senator. Is he now addressing a state/county issue?

  56. Michael H. Wilson

    @23 Wayne wrote “or take away my home mortgage … deductions…”

    I’m willing to bet that if the nation goes to a flat tax as some have suggested then the mortgage interest deduction will disappear. As well we need to ask what happens if we just abolish the income tax? I have a reference to a study by the Brookings Institute around here somewhere that suggests doing away with the deduction would lower housing costs significantly. Hmmm, that might help a lot of people.

  57. Thomas L. Knapp

    Wayne has a point on the mortgage interest deduction.

    The deduction is a bad thing — an economy-distorting piece of corporate welfare/social engineering that’s at least partially responsible for the recently burst “housing bubble” — but just cutting it off midstream would put a lot of people with existing mortgages in a hurt locker.

    If the income tax is going to remain in substantially similar current form, the best way to get rid of it would be a combination of “grandfathering” and choice.

    1) Create two levels of “standard deduction” — one the same as now, the other that PLUS the amount of the average home mortgage interest deduction;

    2) If you don’t have a mortgage, congratulations — you just got a tax cut.

    3) If you have a mortgage that would get you a mortgage interested deduction lower than average, screw it — just take the higher level of “standard deduction,” and you got a tax cut, too;

    4) If you have an average or higher mortgage interest deduction, you’re “grandfathered” — take that bigger mortgage interest deduction and keep the lower existing standard deduction. You’re right where you were.

    Better, of course, would be doing away with both the income tax and the state it finances.

  58. Steven Wilson

    The unions are going to shut down the machine. Then people will discover that they can live without the machine.

    I hope people don’t get hurt, but the end result will be pure joy.

    Workers Unite!!

  59. George Phillies

    @51 For those who missed it the first time my position was that I opposed the conduct of the Republican governor as conduct.

    I am delighted that he is doing it, because he is wrecking his own party, which is a positive outcome. I mean, how many Republican Governors manage to get the local Chamber of Commerce (as opposed to the DC Chamber of Robber Barons) to oppose them on a labor law issue?

  60. Robert Capozzi

    WAR: …or take away my home mortgage and charitable deductions…

    me: BHO was toying with restricting or nixing the charitable deduction early on, but I’d not heard they are still considering that. As a L, that really got my attention, since so much of what government does should be done by charity. If anything, I’d like to see charitable deductions become credits.

    I’ve also not heard that any talk of ending the mortgage deduction on a first home, but I have heard some discussion of it on second or third homes. Part of this is envy and/or a desire to make the income tax MORE progressive. My take is the income tax preferences are not only distortive but unfair. There are no preferences on FICA taxes.

    As a way to unwind the income tax, I would advocate a cap on preferences EXCLUDING charitable contributions and IRAs. Rather than picking and choosing among myriad tax preferences, simply cap the total at a reasonable number, say, $50K a year. Those taking more would see their effective rates go up, but they could make adjustments over time away from tax-preference-motivated activities toward real economic ones. Liberals might like this as would conservatives. I might go for lowering the tax-preference cap.

    With these in place, we could start to focus on cutting spending. Charities could step up to take more and more of the government’s role.

    And, now, to really challenge my absolutist brothers and sisters, rather than engage in the mainstream’s entitlement-reform talk, I think the SS retirement age should be lowered, not raised. I would fund that by phasing in pollution taxes to pay for it. This would be a neo-Georgist dividend or a neo-Friedman negative income tax. Medicare and Medicaid could be collapsed together into an insurance pool of private insurers, where citizen can get coverage with lowish premiums, paid for by SS benefits.

    Or, we can continue to call for abolishing everything…

  61. Robert Capozzi

    gp73: I am delighted that he is doing it, because he is wrecking his own party, which is a positive outcome. I mean, how many Republican Governors manage to get the local Chamber of Commerce (as opposed to the DC Chamber of Robber Barons) to oppose them on a labor law issue?

    me: Walk us through how this “wrecks” the GOP (which would be a desirable outcome). And why you think local Chamber opposition is SO meaningful to you…seems like a minor datapoint to me.

  62. paulie

    For the most part there is nothing unlibertarian about the idea of unions (in my opinion)

    The problem comes in when it’s government employee unions.

  63. paulie

    The brothel in my opinion is a nether here or there. It doesn’t add to Nevada nor does it take a way.

    It’s a fairly substantial tourist business in some of the rural counties, and giving people a legal alternative is important.

  64. paulie

    LG 67

    P if you wanna make this its own story , awesome

    David Colborne did send that to me, I’ll be working on it today.

    For the facebook group – is there a page I can “like’? Facebook has limited my ability to join additional groups.

    Oh and one little thing…please don’t post a bunch of ALL CAPS…bad girl 🙂

  65. paulie

    @ 68…BTW…I like

    @ 69 Yes, that is so. The county LV is in is Clark County. If you read @ 67 they say they want to leglaize in Clark County as well. And yes, Reid is a US Senator.

  66. paulie

    The GOP is as much to blame for it as the Dems/Obama.

    If taxes are raised on businesses, if mortgage deductions are ended, if businesses are destroyed and homes lost — much of the blame goes to our overseas empire, war on terror, national security infrastructure, and foreign aid (to Arabs and Israelis).

    Also, neither big box party has made any serious efforts to curtail entitlements.

  67. Wayne Root

    Thomas Knapp- good idea.

    I’ve always recommended that all tax deductions – on the way in- should be tied to cost of living increases.

    And on the way out- if we choose to eliminate them- should be phased out slowly…and taxpayers be given a few years to choose old deduction while they unwind their investment.

    It’s time to think of the customer…ie the taxpayer.

  68. Wayne Root

    To George Phillies. Sorry George, you have worst gut instinct ever. Gov Walker of Wisconsin and Gov Christie of New Jersey are making themselves the most POPULAR political figures in USA. 96% of workforce is sick and tired of being screwed by 6% (unions).

    Brilliant strategy. And GOP gains big time over greedy govt-employee supporting Dems.

    Oh how the tables have turned.

    The unions are on the run!

    Glorious.

    I guess your profession blinds you to reality…or Libertarian view on the issue.

  69. paulie

    I’ve always recommended that all tax deductions – on the way in- should be tied to cost of living increases.

    And on the way out- if we choose to eliminate them- should be phased out slowly…and taxpayers be given a few years to choose old deduction while they unwind their investment.

    It’s time to think of the customer…ie the taxpayer.

    That makes sense.

  70. Robert Capozzi

    war: I’ve always recommended that all tax deductions – on the way in- should be tied to cost of living increases.

    me: It’s not obvious how this would work. Can you elaborate?

  71. Michael H. Wilson

    From the book The Decline and Fall of the Income Tax by Michael J. Graetz “…independent analysis suggests a decline in average housing values or 40% and significant defaults on mortgages.” That is if the deduction is abolished.

    Of course this is just one possible outcome.

  72. Wayne Root

    Hi Robert.

    I’m on the run to meetings. I only have a minute to respond.

    What I meant was all tax deductions need to be indexed to inflation.

    When home mortgage deduction of $1 MM was chosen what — 20 or 30 years ago– $1 MM was considered a fair figure. If it had been tied to inflation, that same deduction would today be $2 MM.

    Same with stock loss deduction…a taxpayer is allowed to deduct $3000 in stock losses each year. When that was implemented perhaps $3000 was alot of money. But if it was tied to inflation it would today be $10,000 or perhaps $20,000.

    That might be reasonable. But $3000 is an embarassment. A person risks $1 Mm investing in America by buying a stock. It goes down. They lose $500,000. They are allowed to deduct only $3000. Incredible. Is that incentive to invest in America and risk losing hundreds of thousands?

    Same with income tax. You must tie it to inflation…or a $40K income in 1980 is treated differently than a $100K income in 2011. Yet they are the same- based on inflation.

    As inflation increases, so should the deduction number legally allowed, or you get an unfair, distorted figure.

    A $1 Mm mortgage in 1980 was gigantic. It was meant obviously to allow everyone to deduct their mortgage. Today a $1 MM mortgage is what any home in a upper middle class neighborhood in any big city costs. In many cities- NY or LA for instance- $1 MM home is middle class nowadays.

    It went- due to inflation- from a fair deduction…to an unfair one.

    Why wasn’t it indexed to inflation?

    Because politicians are ignorant fools…or they purposely wanted to screw wealthy homeowners.

    You decide.

    Neither is a good thing.

  73. Robert Capozzi

    war, thanks. I was not aware of ‘home acquisition debt” caps and the concomitant limit on deductibility of mortgage interest.

    I generally agree that indexing these sorts of things makes sense in the context of the current regime. Of course, I would like to unwind the current tax system for many reasons.

  74. Robert Capozzi

    mhw, at the state and local levels, those might be excellent issues. At the federal level, near as I can tell, not so much. Since the feds do the most hurtful things, my preference is to undo those first. Compared with the ambulance being run by the county, I put stopping the wasteful, harmful situation where our blood and treasure is being deployed in faraway lands higher up the priority list.

    It’s all good, though.

  75. Michael H. Wilson

    Robert I agree, but this thread has gone in a couple of directions and I previously posted some federal issues that the LP should be focusing on.

    I just guess play tax games is more fun.

  76. Steven Wilson

    In any given economic device where exchange of product is coupled with a secondary marker, taxation of that exchange is slavery when the players involved did not consent to pay for the service for which they are being taxed.

    If consent is given through a vote, a percentage majority vote still allows for slavery per group logic.

    Majority mathematics behave like a collar when the end product is unwanted by the minority percentage voter.

  77. Alan Pyeatt

    wayne root @ 20: Please note the word “more” in front of the word “stable” in my post @ 14. That qualifier makes a big difference: “more stable” vs. “stable.” As in, rolling downhill vs. falling off a cliff.

  78. Thomas L. Knapp

    “96% of workforce is sick and tired of being screwed by 6% (unions).”

    A USA Today/Gallup poll yesterday has 61% of the public opposed to getting rid of collective bargaining by government employees.

  79. Government employees

    Government employees AFGE. They use a lot of the money for buying chicken and partying instead of being what it is used for to protect the employees. You have nasty people in office. You have people ask like wanna bee lawyers who doesn’t know the A from a hole in a ground. they are not always good with the money they get from the employees. AFGE raided NFFE which was a smaller union. Certain ethnic groups believe they are owed favors. What goes on in Washington like Monica and Clinton, goes on among some of these union officials.

    Don’t kid yourself, there really are some, few mind you that are good representation. But these people are not always backed up. Also the people in management are not cream of the crop either. You can bet the People that hold official status do back-room deals as well. Like small government office, like Big DADDY Washington. Same crap.

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