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Even after you pay off the mortgage, you still don’t own the property. Not fully, anyway. From a philosophical standpoint, you’re renting the house from the government. That payment comes due in the form of property taxes. Property taxes are the worst kind of taxes. However… I’m Happy to Pay Another Kind of Tax It isn’t income taxes. When you tax people’s work and efforts, they want to work less. It’s just like taxing their property. You discourage people from wanting to own any. But when you tax sales, you’re discouraging consumption … and ....
When the Money Gusher Ends We can all agree it’s a good thing the pandemic’s crushing blow to the economy didn’t close all the businesses and put everybody in bread lines. But there’s no such thing as a free recovery, say people who don’t want us to have any fun. For example, the Fed’s money printer going brrr all the time has kept countless companies from going bankrupt, writes Lisa Abramowicz. The downside is this has also kept alive countless companies that might be better off no longer existing. These living-dead businesses, along with the heaps of debt all companies have been larding on, will make the economy sluggish and zombie-like. ....
By Jared Dillian I’ve been either investing or writing about investing for 22 years, and I’ve seen a lot of weird stuff, but nothing as weird as Dogecoin, the lighthearted dog-themed cryptocurrency that was created as a joke. It’s now valued at more than $50 billion, exceeding Ford Motor Co. and many other companies with extensive histories. It’s not the first worthless financial instrument that I’ve seen soar to great heights it happened to dot-com stocks at the start of my career but the first one intentionally designed to be worthless. Elon Musk thinks this is funny. I don’t find the humor in it. ....