One more thing on the election
Here is a piece written before the election, but I think it’s still a good read. A quote:
Let me back up a moment here. I had read some of Atlas shrugged, but I confess,not all. That said, I have read a number of reviews on the ideas presented by Ayn Rand in the form of the objectivist ideology, and the debates surrounding them. For those who do not know what I am talking about, I suggest you read up on it, because I am seeing striking number of themes from Atlas Shrugged being played out in real time in the election ahead. Anyway, “going John Galt” is basically refusing to allow yourself to be punished for achieving. This is done by withdrawing your contribution to society in the form of taxes, by producing less, and thusly getting taxed less. For instance; a contractor can work six days a week, earning $300K per annum, and paying $150K in taxes netting him $150K for himself, or he can work two days a week, earning $100K per annum, falling into the “middle class” category, paying just $25K in taxes, and keeping $75K for himself. So, he chooses to work two days a week, gets to spend more time with his family, and stiffs the government of $125K in tax revenue. It works well for him because a third of the work means only a loss in half his pay, and he keeps more dollars per hour he works by curtailing his productivity. On a macro scale across the nation, this kind of revenue loss will deprive the government of wealth, and therefore; power. In this way, the productive will blackmail the government. Also, it will be more likely that the productive will start blackmarket trade. They will hide the transfer of goods and services. Watch for it.
There are a few things to note. First of all, if taxes go up enough, I will strongly consider cutting back in work. Right now I don’t make enough for it to really matter, but I have the potential to make a lot more. If that happens, well, I have the feeling that I will consider working less. Those who know me know how lazy I am anyway, so perhaps that isn’t really news.
The big thing will be the underground economy. I expect it will happen, and happen pretty soon. Even without policy changes, the bad state of economic affairs and the soon to be inflating dollar will take many out of the money game. I guess since I have only debt, high inflation will help me since I’ll be able to pay it off with “cheap” dollars. However, we will all have less overall wealth since I cannot see the government changing tax rates to compensate for their debasing of the currency (see bailouts, which are now apparently going as high as 7 trillion dollars… yikes!).
There are other things. Our new president has a track record of being in favor of laws that restrict the second amendment rights of citizens. His chief of staff is of a like mind, as is his apparent nominee for attorney general. If they are able to pass restrictive laws, or even attempt to do so, I expect the states to follow. I live in a purple midwestern state, and I like it here very much, but if they decide that gun ownership is to be restricted here more than it is already, I will have to leave it behind and go elsewhere.
I guess I will probably go to Texas in that event. North Texas, I think, because I don’t like humidity all that much. I think that Texas will probably be the last stand of citizens who refuse to be subjects.
I hope I’m wrong, and none of this happens, and all the panic buying of firearms and ammunition we are seeing turns out to be for naught. However, don’t count on it.
