The real effect of tax-rate reductions is to make the future prospects of profit look more favorable, leading to more current investments that generate more current economic activity and more jobs.
"Ever since Franklin D. Roosevelt linked “freedom from want” to “freedom of speech” and “freedom of worship,” the left has been talking of everything that it thinks would be nice to have in terms of an utter and absolute right: a right to a job and a right to an income, a right to retire in comfort in Florida, a right to the most advanced health care without paying much for it, and a right to have your children taken care of while you work all day at your job. The problem is that these are all goods and services, though of varying importance, and goods and rights are not the same things. People tend to concur upon rights (except for the speech rights of those who oppose them), and they do not depend upon others to supply and pay for their rights. With goods, there is always a political argument: about the value of the good, who is to get it and who is to pay. And all this comes down to the question of “fairness,” about which there is no end of disputation and grief. "
"It was not wrong to have a fling with the welfare state sixty-five years ago, when it was a noble experiment that had not yet been attempted. It is wrong to ignore the evidence that in some ways it is failing, that the model set up has become unsustainable, and that renovations are needed if its critical functions are to survive. Goods are not rights. Pensions and access to health care remain social goods that a decent society will try to provide to its -people. But goods are not rights, and the old model, which claimed that they are, is broken. We need a new one, which provides sustainable ways to convey social goods to those who most need them. Good intentions are fine, but without means they are useless. They are the things with which the road to Gehenna is paved."
"For the Most Gifted Orator in Human History, the president these days speaks largely in clichés, most of which he doesn't seem to be quite on top of. 'Eric, don't call my bluff,' he sternly reprimanded the GOP's Eric Cantor. Usually, if you're bluffing, the trick is not to announce it upfront. But, in fact, in his threat to have Granny eating dog food by Labor Day, Obama was calling his own bluff. The giant bluff against the future that is government spending."
The Republican Crazy Is Not An Act | The New Republic
What a difference 3 years makes. In '08, "Change" was a brilliant mantra. Well, we got that change -- which BTW I and a lot of conserviatives thought was "crazy". What did we get? Long-term 9%+ unemployment after we spent a Trillion dollars we were told would prevent unemployment from rising above 8%. BOcare which is a giant tax increase on top of waves of uncertainly that kills especially small business. Less and less oil production and not surprisingly rising gas prices, plus general inflation starting with food. Home prices that continue in decline. A new undeclared war -- only this time, with a violation of the war powers act. At least we didn't get much of the change that BO actually promised -- Gitmo is still open, the Patriot Act is still in force, and Terrorists are being tried by military tribunals. It is just that those things are OK with the liberals and media now that their guy is doing them.
Trying to balance a budget though? "CRAZY!!!!". How in the heck are we still talking about "Bush Era Tax Cuts" after the Democrats held both houses of congress for 4 years and the WH for two of those?? Do you remember any sort of budget battle in '07 over raising taxes when the the Democrats were in charge of both houses and Bush was in the WH? Neither do I. In 2009, they owned all three branches -- they could have passed any tax policy they wanted -- Nada. In 2010, still owning both houses, they failed to pass a budget at all.
Now? The Republicans are CRAZY!! The world is all so simple when you are out in space to the left of it.
Hurricane Obamanomics | Power Line
Somehow I suspect that if all it took to have a great economy was to spend future generations money, Portugal, Itally, Greece and Spain would have great economies ... instead, they have economies like we are heading for under BO. Maybe a successful economy just takes a wee bit more than massive deficits??? I wonder if Nancy, Harry and BO will ever be able to fathom that??
Not Taking Other People’s Money | The Weekly Standard
Great article, just read it. A teaser:
If our system is not yet “fair,” what will make it so? If the top 5 percent paid 75 percent of the total? Or 95 percent? If they could, would it be ideal for the top 1 percent to carry all the rest of us so we could finally have a tax code that is “fair and balanced”?
The point of the "levelers" is that our system would not be "fair" until there was some arbitrarity tiny difference between the top and the bottom -- even if that was achieved by bringing the average down to essentially zero. It would be fine with them -- "fair is fair".
Currently, only seven states have a higher top income tax bracket than Minnesota, according to the Tax Policy Center.
Adding the governor's proposed 2 percent increase on the 7.85 percent top rate would rank Minnesota third, behind Hawaii and Oregon, both at 11 percent.
We are currently 7th highest, Governor Shutdown wants to make us 3rd.
