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Chris DeMuth Jr.'s  Instablog

Chris DeMuth Jr.
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"It's not given to human beings to have such talent that they can just know everything about everything all the time. But it is given to human beings who work hard at it - who look and sift the world for a misplaced bet - that they can occasionally find one." - Charlie Munger I look... More
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Rangeley Capital on Harvest
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Rangeley Capital Best Investment Ideas
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  • losbronces
    , contributor
    Comments (618) | Send Message
     
    Two fingers of the Quinta Ruban, neat.
    5 Dec 2013, 04:00 PM Reply Like
  • Chris DeMuth Jr.
    , contributor
    Comments (4041) | Send Message
     
    Author’s reply » That is the correct answer!
    5 Dec 2013, 04:11 PM Reply Like
  • jbzw
    , contributor
    Comments (647) | 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    Prohibition made the purchase of a product illegal and was repealed.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 (4041) | Send Message
     
    Author’s reply » Enjoy and well said.
    5 Dec 2013, 09:49 PM Reply Like
  • arbtrader
    , contributor
    Comments (170) | 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    The official story is: 'It didn't work, so they repealed because it made so much sense'.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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