New Sherwood

Saturday morning

A talented freelance photographer at Chico’s Farmer’s Market took a few photos of The Country Road Fiddlers on Thursday night. Here’s Christopher sawing up Drowsy Maggie:

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I received an e-mail from someone at the Center for Economic and Social Justice in response to the Binary Economics post. The CESJ’s website is superb and well worth a look. Their language seems to appeal to Catholic sensibilities a little more, no doubt the result of Catholics involved with the movement. According to my correspondent the CESJ applies the principles of binary economics somewhat differently:

“We restrict the use of the central bank to providing new money and credit exclusively to the private sector to finance the acquisition and formation of income-generating assets, with a preferential option for those who currently own little or nothing that has the capacity to supplement the usual wage income (where a wage-system job exists, anyway).

Rodney [Shakespeare] would allow the central bank to provide money and credit for government-owned infrastructure, student loans, and so on. We believe it’s much better to have ordinary people owning the infrastructure whenever possible, and not extend credit for anything that does not generate cash income for the owner.

In the case of student loans, for example (education does not usually generate a cash income; most of us pay, rather than are paid to go to school), we think it’s preferable to increase the personal tax exemption and eliminate most of the complicated personal deductions except for education and health insurance, plus a tax deferral on income used to acquire income-generating assets — a “Capital Homestead.” This shifts the power from the State that can control things by deciding who can have a student loan, to the individual, who will presumably be treated equally with everyone else in having a tax deduction for education expenses, supplemented with a voucher when individual income proves inadequate to finance education.

To provide a social safety net, we advocate a version of Milton Friedman’s ‘negative income tax’ for anyone falling below the estimated $10,000 personal exemption for non-dependent taxpayers, $5,000 personal exemption per dependent, with vouchers for education and health insurance, and the levy of a single tax rate over the aggregate amount of exemptions, deductions, and deferrals for a family (merging the regressive Social Security and Medicare tax rates into the general tax rate). The result would be that a typical family of four would pay no taxes until aggregate family income exceeded an estimated $110,000.”

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California cities are climbing aboard a movement to display “In God We Trust” on their municipal buildings. So far, twenty-seven cities are members of “In God We Trust – America”, a group launched in conservative Bakersfield. Huntington Beach is the latest California city to join the cause. This is an encouraging movement and I wish them every success.

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In other California news, Governor Schwarzenegger has promised to oppose an upcoming ballot initiative that would amend the constitution and strengthen the state’s ban on homosexual marriage. It was refreshing to have the Governor on our side in the homeschooling controversy, but the opinions of this shallow yet bombastic governor are worth about what we pay for them.

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Mr. Jim Curley (and Stephen Hand) have some insights on “the way back”. They’re on the right track, I think. One family at a time.

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Excuse me while I go read this article before heading out to the orchard.

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April 13, 2008 - Posted by | Uncategorized

2 Comments »

  1. LOVE that dimple!

    Like

    Comment by annabenedetti | April 16, 2008 | Reply

  2. +JMJ+

    Annabenedetti beat me to it! That dimple on Christopher is just adorable! <3

    Like

    Comment by Enbrethiliel | April 16, 2008 | Reply


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