Tax Freedom Day

Interesting ststs on Wikipeadia on Tax Freedom Day. I didn't realise that India was tops! Explains some of the growth we have been seeing there lately.

http://en.wikipedia.org/wiki/Tax_Freedom_Day

9. Inflation

In the Sunday Times (July 27 2008) Chris Visser, Sanlam Chair in investment management at the School of Business and management at the University of the Western Cape, says: "Local prices are simply local prices translated via the Rand exchange rate (with some tax)". This simply cannot be true - imagine if the Chair in Economics of Harare said that of the Zimbabwean currency - we would all busrt out in histerical laughter because we know that a "good" currency would strenthen under the condition of other currencies being inflated and the local one not. And stuff in the local currency will cost the same as before.

In a country with a "good" currency the exchange rate reflects good economic policy. What do we mean by a "good" currency - simple, where the money supply is curtailed in relation to the goods and services being produced in that coutry. This is what I learnt in Economics I (which is by the way as far as I got - does it show?).

With my limited knowledge I am not able to say "raise the level of competitiveness on the supply side and prevent excess monetary accommodation that would push the demand side beyond a sustainable level..." But I guess allowing in cheap imports and stop printing money and reduce taxes and government expenditure will do the trick for me - and for the poor and for economic growth and for equality.

8. Lighthouse

The mission of The Independent Institute is to transcend the all-too-common politicization and superficiality of public policy research and debate, redefine the debate over public issues, and foster new and effective directions for government reform.


http://www.independent.org/aboutus/lighthouse.asp

7. Garth in "Pirate boarding ship" mood at

Gerhardts 2 in 1 restaurant at the monthly libertarian gettogether (August 2008). See you there on the first Wednesday of every month from 6 ish.

6. Another lonely soul

http://lonelylibertarian.blogspot.com/2008/08/vote-or-die.html