Kudlow

At least twice last week, CNBC publicly backed countries that shelter the income of US citizens from US taxes. According to CNBC's Larry Kudlow, these tax havens provide "tax competition."

All this time, for the last 8 years, we were apparently, without knowing, just a 4.6% tax hike away from being socialist.

The two hallmarks of a banana republic are very high rates of inflation coupled with substantial government controls over the economy, which lead to high rates of unemployment and poverty.