In the 1940s and putting together the concept of income we now use today under the income tax they were neglecting the adverse effect on the labor force and it wasnt unknown. The godfather of the income tax henry simons and one of the two leading godfathers admitted that it would damage the economy and his current disciples dont want you to remember that or theyve forgotten it. Heres what simons said about Income Taxation. Income taxation is broadly an instrument of economic control. A means of mitigating economic inequality which well assume that moderation of inequality is an important objective of approximately see and perceived income tax is devices for effecting it. The case for drastic progression in taxation must be rested on the case of inequality on the ethical or aesthetic judgment that the prevailing distribution of wealth and income reveals a degree and or kind of inequality which is distinctly evil or unlovely. Not particularly scientific. In fact, it is reasonable to expe
The House Judiciary Committee. Congress dealing a big blow to president obama. Both houses voting to override his veto of the 9 11 bill, enabling victims to sue saudi arabia for their involvement in the attack. The first override of his eightyear presidency. Melissa wow. Back to markets. The dow settling up triple digits, driven higher by shares of caterpillar, exxon and chevron. Oil is spiking up on major news out of opec traders. Scott shellady with all the details from cme. Adam shapiro on floor of new york stock exchange. Adam, there is talk of viacom and cbs exploring another merger. Reporter yeah, liz. Call it a rerun. They split in 2006. And now perhaps Sumner Redstone who controls his company, National Amusements which controls cbs, gets its way, cbbviacom would come back together. Both of stocks closed up. Havent seen a rerun like that, will they redo hogans heroes . Elon musk might have a plan to go to mars. Jeff bezos, fortunes out of this world already. Amazon up to another
Race. I still say Dunkin Donuts coffee is better. Varney company, though, we are about to begin. I believe in you. I believe in the power of millions of courageous conservatives rising up to reignite the promise of america. That is why today i am announcing that i am running for president of the United States. [cheering and applause] stuart there it was. A speech at liberty university. The Largest Christian University in the country. His faith played a big role in that announcement speech. The first candidate to announce. He did it first on twitter. I am running for president. I hope to our newer support. Also releasing this campaign ad. A time for truth. Ready to make America Great again. I do not is there a problem here . He was born in canada. How does that work . We asked the judge mr. Napolitano in about a half an hour. The un special says the country is on the brink of civil war. Seizing control of the northern part of the country and the countries Third Largest city. Iranian pow
FOX Business host Larry Kudlow gives his take on House Speaker Kevin McCarthy's meeting with President Joe Biden and weighs in on the importance of stopping spending.
A report released Friday by an energy group highlighted the challenges that increased wind energy development faces as governments make an aggressive net-zero push.