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Alexis de Tocqueville on Sanders and Socialism

Alexis de Tocqueville is properly credited for getting America insightfully right in his legendary Democracy in America in the 1830s.  My goodness, the young Frenchman was brilliantly prescient, but who possibly could have known he also would anticipate, nearing two centuries later, the economic and social aspirations of Bernie Sanders, Alexandria Ocasio-Cortez, and Ilhan Omar? “Democracy,” Tocqueville wrote, “extends the sphere of individual freedom, socialism restricts it.  Democracy attaches all possible value to each man; socialism makes each man a mere agent, a mere number.  Democracy and socialism have nothing in common but one word: equality.  But notice the difference: while...

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In Defense of CEO Pay and Rich People

British journalist and politician Daniel Hannan recently wrote a smart defense of high CEO pay in the Washington Examiner.  His are arguments rarely heard among the leftist shouts to “abolish billionaires.” And a couple of years ago I wrote a pretty good piece challenging Oxfam’s sensational report that claimed “obscene wealth” and inequality are “trapping hundreds of millions in poverty.”  Here is a timely fusion of the two pieces as America seemingly plunges further toward socialism every day. Why is high CEO pay justifiable? “Top CEOs in America now earn, on average, over 300 times average pay. In 1965 it was 20 times....

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Minnesota has high business taxes which research shows hurt our economy. Will Gov. Walz raise them?

New research shows that higher state business and personal tax rates mean fewer businesses, less employment, and reduced capital investment. Minnesota has the fourth highest top marginal individual income tax rate in the country and the third highest corporate income tax rate, which might explain why our state lags the national average in new business formation, job creation, and capital per worker. Gov. Walz must commit to not hike business taxes even further. ...

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Research shows that higher state business and personal tax rates mean fewer businesses, less employment, and reduced capital investment

Minnesota is one of the highest taxed states in America with the fourth highest top marginal individual income tax rate and the third highest corporate income tax rate. Our state lags the national average in new business formation, job creation, and capital per worker. New research suggests that these two phenomena are causally linked. ...

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