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Chris DeMuth Jr.
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Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event driven, value-oriented investment opportunities. Rangeley Capital and his value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for... More
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  • Happy Repeal Day 5 comments
    Dec 5, 2013 11:04 AM

    How are you celebrating this freedom today?

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  • losbronces
    , contributor
    Comments (1038) | Send Message
    Two fingers of the Quinta Ruban, neat.
    5 Dec 2013, 04:00 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (11787) | Send Message
    Author’s reply » That is the correct answer!
    5 Dec 2013, 04:11 PM Reply Like
  • jbzw
    , contributor
    Comments (1178) | Send Message
    Prohibition made the purchase of a product illegal and was repealed. The government now madates the purchase of another product, wrongfully called a tax. I am enjoying a Crown Royal, and awaiting a second repeal.
    5 Dec 2013, 09:13 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (11787) | Send Message
    Author’s reply » Enjoy and well said.
    5 Dec 2013, 09:49 PM Reply Like
  • arbtrader
    , contributor
    Comments (585) | Send Message
    FWIW, some interesting academic studies around suggest that the repeal was actually a product of the Great Depression and the need for tax revenue. Municipal BK's were common and many cities were so desperate for cash they issued script (google: depression script).


    The official story is: 'It didn't work, so they repealed because it made so much sense'.


    Of course, when was the last time you had any gov't entity 1-admit they are completely wrong bordering on idiotic, 2-give up enforcement power with related budgetary cuts, and 3-walk away from literally decades of propaganda used for enforcement?


    Watch if Co and Wa can get their tax issues resolved. If they can figure out how to tax weed, you can expect quick relaxation of laws in many, many states. AT.
    6 Dec 2013, 12:09 PM Reply Like
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