Happy holidays--Merry Christmas and Happy Hanukkah to those of you who are old school--and a happy new year to all of my readers. Blogging will resume January 2.
It's been a long time coming.
"Before 1913 there was no income tax, and the United States was a much freer country. Initially, the government sold the federal income tax to the American people as something only the rich would have to pay."
Yves Smith instructs us--or at least me--on the "worst CEO in history": Archie McCardell.
Article mentions an example I used in class: in 1900 people in New York City and some other major cities were worried about the huge increase in horses they were going to need for their growing populations. Specifically, where they were going to put all the horseshit?
I'm not shocked.
The rules can be twisted in ways that I don’t think match the intent of those rules,” Siegel says.
If like me you are at a rather advanced age, you may find useful this summary by a retired physician of some recent research.
Maybe it's just me, but I think the probability of a huuuuuuge problem originating in unfunded pensions is far greater than one caused by global warming. For some support, see the following:
And of course from a few weeks back there's this: "Police fire tear gas and water cannon at protesters as France is paralysed by worst nationwide strike for decades: Sixty-five arrested in Paris as schools shut, public transport stops and Eiffel Tower closes in protest at Macron's pension reforms".
And if you don't think something like this could happen here, in the good ol' USA . . . just wait.
UPDATE: See also Pat Buchanan:
The questions the U.S. will inevitably face are the ones France faces: At what point does government consumption of the national wealth become too great a burden for the private sector to bear? At what point must cuts be made in government spending that will be seen by the people, as they are seen in France today, as intolerable?