The Cynical Economist

In Maryland, Higher Taxes Chase Out Rich: Study

A new report says wealthy Maryland residents may be moving out due to recent tax hikes – a finding that is sure to escalate the battle over taxing the American rich.

The study, by the anti-tax group Change Maryland, says that a net 31,000 residents left the state between 2007 and 2010, the tenure of a “millionaire’s tax” pushed through by Gov. Martin O’Malley. The tax, which expired in 2010, in imposed a rate of 6.25 percent on incomes of more than $1 million a year.

Rise of the global tax collectors

Most Americans probably would not approve of their tax dollars being used to support an international organization that undermines their fundamental liberties and promotes giving their hard-earned money to other governments, often run by corrupt or dictatorial regimes. This is precisely what the OECD is doing, with the blessing of the majority members of Congress.

USDA Gives Millions to Farmers Who Aren’t Actually Farming

While some farms were receiving subsidies without actually growing crops, others got billions even though they didn’t grow the crops for which they were being subsidized, GAO reports…

Energy Loserville: U.S. DOE Picks in an Artificial Industry

…Of the $10.7 billion in green-energy commitments, detailed below, approximately $3.2 billion is to companies that are in bankruptcy, and another $7.1 billion is committed to teetering firms….

We’re powerless to get truth about bankers, says key MP

Politicians have been virtually “useless” so far at getting to the truth behind the banking scandal, one of the MPs responsible for investigating the affair has admitted.

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