America is supposed to be the land of the free, yet it is has one of the most vicious tax regimes in the rich world. Once blessed with comparatively low tax rates and levels of regulation, businesses and entrepreneurs flocked to the United States from the sclerotic systems of Europe (and elsewhere). Now American businesses are fleeing America’s shores and foreign-born entrepreneurs are less inclined to come at all.
The subject of tax inversion, in which American firms avail of lower tax rates in foreign countries by merging companies in those countries, has become very topical in the last couple weeks thanks to a decision by Abbvie, a drug company, to merger with Shire, an Ireland-based firm and move its headquarters overseas. One of at least 47 tax inversions in the last decade, the Abbvie-Shire deal is the largest such action yet, worth $54 billion. Perhaps unsurprisingly, President Obama and Democrats in Congress have become apoplectic with rage at the audacity of a business making a prudent decision to escape bloodsucking taxes.
As Americans we are blessed to live under a constitutional republican form of government, with lawmakers constrained by the dictates of a founding document that is difficult to change or subvert. The United States Constitution is the prototype of the modern written constitution of so many countries, yet it remains in many ways unsurpassed as an exercise in the construction of a lasting system for the preservation of public order and individual liberty.
The United Nations Agenda 21 has quietly changed the makeup of our cities and rural areas through highly questionable tactics, clothed in lofty adjectives such as “smart growth” and “sustainability,” as we’ve written previously. Agenda 21 activists have quietly initiated laws that allowed the government to confiscate our land, water, private property, and wilderness areas. Their ultimate goal is to strip Americans of personal rights and freedoms, creating a socialist future and eventually a one-world government. Not a pretty picture!
This weekly podcast features the second half of a conversation between Jim Lakely, Heartland’s communications director, and Yaron Brook, president of the Ayn Rand Institute. In this half of the interview, Jim and Dr. Brook discuss President Obama’s treatment of capitalism, corporate cronyism, and the morality of libertarianism.
Seventy years ago this month, on March 10, 1944, “The Road to Serfdom” by Friedrich A. Hayek was first published in Great Britain. For seven decades it has continued to challenge and influence the political-economic landscape of the world. Hayek delivered an ominous warning that political trends in the Western democracies, including America, were all in the direction of a new form of servitude that threatened the personal and economic liberty of the citizens of these countries.
(EDITOR’S NOTE: Before we get into this revelation of the environmental left, let me first present The Heartland Institute’s Seventh International Conference on Climate Change as the place to counter[...]