People who had no idea there was anything wrong
with the world financial system two years ago, now say the problem has been
fixed
Who fixed it? The people who had no idea what was wrong with
it, of course.
What did they fix it with? The same thing that caused the problem
they didn't see - debt.
Who makes sure it won't break again? The people who didn't notice
the wheels coming off the last time.
The Daily Reckoning, 6 May 2009
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Some people are saying that Australia won't have
a housing correction.
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Freedom
From a recent Wall
Street Journal .
Voltaire on
capitalism and religious toleration, from his 18th century
"Letters on the English":
Take a view of the
Royal Exchange in London, a place more venerable than many courts
of justice, where the representatives of all nations meet for the
benefit of mankind. There the Jew, the Mahometan [Muslim], and the
Christian transact together, as though they all professed the same
religion, and give the name of infidel to none but bankrupts.
There the Presbyterian confides in the Anabaptist, and the
Churchman depends on the Quaker's word.
At the breaking up of
this pacific and free assembly, some withdraw to the synagogue,
and others to take a glass. This man goes and is baptized in a
great tub, in the name of the Father, Son, and Holy Ghost: that
man has his son's foreskin cut off, whilst a set of Hebrew words
(quite unintelligible to him) are mumbled over his child. Others
retire to their churches, and there wait for the inspiration of
heaven with their hats on, and all are satisfied.
If one religion only were allowed in England, the
Government would very possibly become arbitrary; if there were but
two, the people would cut one another's throats; but as there are
such a multitude, they all live happy and in peace.
Thanks
to David Leyonhjelm
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Tax
Happy Tax Freedom
Day!
Oliver Hartwich
A tax is ‘a
compulsory exaction of money by a public authority for public
purposes, enforceable by law, and is not a payment for services
rendered.’ At least that is the way the High Court defined it
way back in 1938. To put it simply: A tax is something you must
pay to the government; what you get in return is another matter.
In all other areas of
life, when we pay someone we would like to see what it is for.
With taxes, it is not that easy. Your hard-earned money that goes
to the government may be used to pay fire-fighters in the country
or fix potholes in your street. It may fund the government’s
broadband network or morph into your neighbour’s $900 cash
bonus. Even more strangely, your money could well return to you as
your own cash bonus (minus the costs of administering this
redistribution).
With so little control
over the use of our money, it is little wonder that nobody likes
paying taxes. That’s the reason governments have become very
good at concealing them. Imagine if you physically had to write a
‘tax cheque’ to the Treasurer every time you refilled your
car, did your shopping, or received your salary. No doubt it would
keep reminding you just how much money you pay the state. But
because we don’t write such cheques, most of us are blissfully
unaware how much of our money goes to the government.
Last year, the average
Australian paid a total of $16,401 to the tax authorities. This
sounds substantial already – the equivalent of a small car. But
it is also quite a lot compared to the average income – 30.8% to
be precise. It means that the average taxpayers need to work the
first 112 days of the year just to pay taxes to the government.
Only on 23 April do they actually start earning money for
themselves to spend and save as they please.
So on 23 April,
celebrate your Tax Freedom Day for 2009. You will be free from the
taxman for the rest of the year. But enjoy it while you can: The
government is working hard to push your Tax Freedom Day well into
May next year.
Dr Oliver Hartwich is a Research Fellow at the CIS.
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Contributions
Contributions and details of meetings are welcome up to 6pm on
the second Friday of each month, after which the newsletter is
submitted for editing.
Send to Graham Nickols at secretary@ldp.org.au
Urgent material missing the deadline should be forwarded
directly to David Leyonhjelm at treasurer@ldp.org.au
_____________________________________________________________________________________________________________
Liberty Links
Given the size of the LDP a lot of our members aren't able to
make it to our state branch meetings. So here's a list of links
of websites that may interest you. None of the listed websites
are affiliated with the LDP and none of the views expressed
represent LDP policy.
Australian Libertarian
Society
Catallaxy Files
Free Market.Net
Introduction to
libertarianism
CATO Institute
Centre for Independent Studies
Institute for Public Affairs
US Libertarian Party
If you have a link you'd like to appear here email info@ldp.org.au
and let us know about it.