Month: September 2017

Why stop with the debt ceiling? Let’s eliminate the income tax!

Earlier this month, President Trump floated the idea of eliminating the debt ceiling.[1] Since 1940, the debt ceiling has been raised more than 100 times.[2] The first debt ceiling was $49 billion, on June 25, 1940. Today, our national debt is $20,200 billion! This leads to the question, “Why have a ceiling, if it is NEVER used?”  Let’s be honest. The U.S. will never pay back our debts. It is mathematically impossible. Future generations will bear the burden of the interest on our national debt. They will be patriotic debt-slaves. So let’s drop the debt ceiling. While we’re at...

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The dollar will lose its reserve currency status; Americans will see a decrease in their standard of living…due to Hubris.

In 1995, Motorola introduced the world’s then-smallest cell phone. It was a sleek clamshell design. It beat the pants off the competition. It was called, “StarTAC.” Leading up to this cool unveiling, Motorola had 50% of the global cell phone market. The only problem with StarTAC…no one wanted it. The newly-designed phone used analog technology just when the market turned to digital. According to Roger O. Crockett, who closely covered the company for Business Week, one of Motorola’s senior leaders dismissed the digital threat: “Forty-three million analog customers can’t be wrong.”[1] In his book, [How The Mighty Fall], Jim...

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