The wealth gap is a serious problem. The richest 20 percent of Americans now own 80 percent of the country’s wealth. Over the past three decades, the average American has seen his income either fall or remain flat. Over the same period, the top 20 percent of income-earners have enjoyed a modest rise in income while the top one percent have seen their income skyrocket. Read The Full Story
Sen. John McCain (R-AZ) said Tuesday that the Senate should include an amendment for increased border security in its new bipartisan immigration reform bill. In video featured by Talking Points Memo, McCain said that the amendment, proposed by Sens. Bob Corker (R-TN) and John Hoeven (R-ND) would make the border between Mexico and the U.S. into “most militarized border since the fall of the Berlin Wall.” Read The Full Story
Many people have never experienced an environment in which a free-market can truly exist. I, however, was lucky enough to be part of a week-long event where such an environment did exist. From June 16th – 23rd, I was in Lancaster, New Hampshire at the Free State Project’s Porcupine Freedom Festival, shortened as PorcFest. During PorcFest hundreds of people (this year saw well over 1,000 attendees) join together to meet and mingle as well as live out a freedom lovers paradise. As attendance has risen, the number of vendors at PorcFest has grown as well, thanks in part to the wider range of attendees and most importantly, the lack of government interference. Read The Full Story
The growth of federal regulations over the past six decades has cut U.S. economic growth by an average of 2 percentage points per year, according to a new study in the Journal of Economic Growth. As a result, the average American household receives about $277,000 less annually than it would have gotten in the absence of six decades of accumulated regulations—a median household income of $330,000 instead of the $53,000 we get now. Read The Full Story
The Libertarian Party applauds the U.S. Supreme Court’s decision today to strike the Defense of Marriage Act (DOMA), a federal law that discriminates against non-heterosexual marriages.
The Libertarian Party has supported marriage equality since its founding in 1971. Read The Full Story