With midterm elections around the corner, we recommend you read this excerpt from our October issue of American Consequences. It’s a conversation-starting essay written by feature contributor and Stansberry Research founder Porter Stansberry: “Why I Don’t Vote (And You Shouldn’t Either).”
The reason I don’t vote (and you shouldn’t either) is…
Our current system of governance is nothing more than tyranny, and it’s on track to destroy our country.
Asking me to vote is like four wolves sitting around the table asking the sheep what he’d like for dinner. It certainly doesn’t matter what the sheep says. Asking me to participate in this charade won’t bring it any legitimacy – it will only make me a party to the fraud. Asking me to vote is like asking a free man to put himself willingly into bondage. It’s insulting.
And when I say that my vote doesn’t count, I don’t mean no one will count it. I mean that, given the structure of our tax laws, there’s no way my voice will possibly matter.
I currently spend about 50 times more on federal taxes than the median taxpayer. I pay a rate of federal tax that’s more than double the average rate.
The 14th Amendment supposedly protects me against this kind of inequity. It promises me the “equal protection” of the laws and says the state can’t deprive me of my property without due process. But the last time there was a dispute about my taxes, the state seized every penny of my assets it could find. It took my checking account and my brokerage account without even bothering to tell me. It moved to put a lien on my house. I found out what was happening via a letter from Bank of America.
The IRS offered me no due process – it didn’t even notify me. (By the way, the matter was resolved after about six months. Turns out the state owed me $2,000 in refunds. They declined to pay me, citing the statute of limitations. True story.)
And I certainly enjoy no equal protection. Just look at the rate and amount I pay compared with more than 90% of other people in this country.
It is impossible for me to peacefully object to this kind of tyranny. Even if I were to give up my citizenship and leave the country, I would be forced to pay an exit tax that’s roughly equal to the death tax my heirs will be forced to pay on my estate. These are the same kind of laws, by the way, that kept a generation of people locked behind the Iron Curtain. Leaving meant giving up all of your wealth. I can’t possibly vote my way out of this situation. I can’t peacefully object. I can’t exit. Nor can I petition the courts for redress, as the Supreme Court has specifically ruled that the Bill of Rights doesn’t apply to revenue matters. (See Lehnhausen v. Lake Shore Auto Parts Co… a 9-0 decision.)
I understand no one will feel sorry for me. The vast majority of folks will continue to vote. And what they’ll vote for is more and more of my wallet. They are the proverbial wolves. And I am the proverbial sheep. When the sheep complains, the wolves just laugh.
That’s fine with me… I will get the last laugh.
You see, this system will inevitably lead to more and more government, higher and higher taxes, and bigger and bigger deficits. This system will eventually destroy our country, just as abuses like these have destroyed every democracy in history. Along the way, with a very small intellectual advantage, I will earn far more from various non-reported speculations (gold, silver, foreign real estate, etc.) than the government will be able to tax. The sheep may be shorn… But he will not be eaten. The wolves, meanwhile, will soon be feeding on each other.
This kind of progressive tax structure, where a tiny fraction of the population pays for essentially all of the government’s spending, creates the illusion that the government and its services are free. Our system is a lie. The lie is that you can live at the expense of your neighbor.
Yes, it sure seems true right now. Today, about 10% of the population pays for roughly 75% of all income taxes. Looks like everything is working out the way the voters want… They want more government services… They want free “Obama phones”… and EBT cards that can purchase luxury items and booze… and discounted housing… and cheap mortgages… and free education… and free health care…
They want it all. And they will vote for it every time.
Read the rest of Porter’s essay right here in the October American Consequences magazine.
The question is… Can our economy afford our “big promise” government? Tell us whether you agree or disagree at [email protected].
Now here’s the news we’re reading…
More evidence of the “Melt Up“…
There is a surprisingly robust seasonal effect in the stock market. It suggests that, despite the recent market turmoil, the coming days may be a good time to increase your stock exposure at least until next spring.
U.S. consumers are showing little sign so far that this month’s stock-market plunge is denting their optimism or spending.
Total spending for Halloween is expected to reach $9 billion, the second highest in the survey’s 14-year history… “The economy is good and consumer confidence is high, so families are ready to spend on Halloween this year.”
In the latest Investor Hour, host Buck Sexton talks to value investor Dan Ferris about the best opportunities in the markets right now.
Artwork produced by Artificial Intelligence begs the question – is it really art??
The first artwork generated by AI to be sold at Christie’s, its impressive price would seem to suggest that in future we will get computers to make art for us. Robot van Gogh will harmlessly cut its ear off and robot Picasso will be a genius, minus the misogyny.
When NASA guys are challenged with pumpkin carving, you know they are going to go above and beyond…
Every year, engineers at NASA’s Jet Propulsion Laboratory (JPL) in Pasadena, California gather for the ultimate pumpkin carving contest. The rules: No carving is allowed during work hours. The prize: Bragging rights.
The world’s most popular video game brings incredible fortune… and fakes.
According to an Epic Games blog post, Fortnite attracted 80 million players in August 2018, an incredible achievement for a game that was officially released just over a year prior.
A new report from security firm ZeroFox lays bare just how broadly these scams have proliferated across social media, YouTube, and thousands of domains.
With P.J. O’Rourke and the American Consequences Editorial Staff
October 31, 2018