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Archive for February 29th, 2012

With banks and non-financial companies sitting on trillions of  dollars because of the negative economic environment created in part by his policies, this new poster is both funny and troubling.

However, I think this cartoon does the best job of capturing the destructive impact of big government on economic performance.

Sort of makes you wonder what Obama will do for an encore if he has another four years.

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This interview with the IRS Commissioner is really irritating. He wants us to believe that all the problems exist because of bad laws enacted by Congress.

I certainly agree that the crowd in Washington is venal, corrupt, and duplicitous. But the IRS takes a bad situation and makes it worse, whether we’re looking at gross abuses of the regulatory process or absurd proposals to squander money on a P.R. campaign to make the agency more cuddly.

So I’m less than overwhelmed by this performance.

Commissioner Shulman also makes reference to a distasteful IRS proposal to regulate the tax preparation industry, which is really a scheme to enrich the big firms like H&R Block at the expense of smaller competitors.

So that’s another black mark against the bureaucracy.

But the most noxious part of the interview is when he admits he has to pay someone to file his tax return and then dodges a question on what could be done to make the system better.

But that’s not surprising. Mr. Shulman oversees a bureaucracy with about 100,000 employees (bigger than the FBI, CIA, and DEA combined), and they obviously wouldn’t want the type of reform that would force them to get jobs in the real world.

But I don’t have any problem with telling the truth. America should have a simple and fair flat tax.

Actually, that’s just an interim step. What we really need is to restore a limited central government, as envisioned by the Founding Fathers. That way we wouldn’t need any broad-based tax to finance Washington.

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