Econ negative-101
No Lip Service: Dems Trade Higher Taxes for Social Programs
Well, here's a true recipe for growth: raise taxes on the investment class and blow all the in-theory-only added revenues on new, ineffective, wasteful welfare programs that will most likely exacerbate whatever "crisis" is at hand.
Slay the Golden Goose!
How easy is it to spot someone who has spent scant time in the private sector?!
Having once run a lemonade stand should be a prerequisite for controlling the public purse.
This economy continues, thanks to the enhanced (since 2003) rewards for productivity and the lowered cost of capital, to expand and create jobs despite the slowdown in housing and the unreasonable shackles of Sarbanes-Oxley.
The Fed government has lately been deluged with tax revenues.
The deficit is approaching a meaningless 1% of GDP as tax revenues as a percentage of GDP approach Clinton-era levels.
Wages and compensation are on the rise.
And these people want to raise taxes -- albeit only on those nasty rich.
After the last round of tax cuts something like half of those eligible actually pay no net income taxes.
Indeed many receive subsidies via the silly EITC.
Presumably these are "the working families" lauded by our class warfarist friends.
Apparently, if you pay income taxes you are like Kennedy, Kerry and Rockefeller -- you inherited your wealth or married into it.
You certainly did not earn your wealth.
You are not a "working family".
Rather than gum up the Great American Growth Machine with higher taxes, we should be slashing taxes on corporations to get them in line with most of the rest of the industrialized world.
We understand that this is not as effective politically as "Eat the Rich", but it is sound economics.
Even the socialist economies of Old Europe get it.
And many of the governments of former captive nations in Eastern Europe have embraced the flat tax.
Some of the dopiest people we know have law degrees from American universities.
Senators Obama and Edwards included.
The Democratic presidential candidates want to raise your taxes.
Most of them aren't exactly advertising that fact when they talk about their plans for health care, the environment and education. But for a party that has long feared political fallout when talking about taxes, the Democrats' 2008 crop of presidential contenders is showing remarkable frankness in talking about the need for additional revenues to fund their priorities.
Sen, Barack Obama, D-Ill., became the latest candidate to call for higher taxes Tuesday, when he unveiled his plan for universal health coverage. He is calling for the tax cuts pushed by President Bush to expire in 2010 for upper-income earners -- an effective tax hike for more than 1 million taxpayers -- and is proposing a new tax on small businesses that don't provide health care to their employees.
"We now face an opportunity -- and an obligation -- to turn the page on the failed politics of yesterday's health care debates," Obama said in unveiling his health care plan in Iowa. "To help pay for this, we will ask all but the smallest businesses who don't make a meaningful contribution today to the health coverage of their employees to do so by supporting this new plan. And we will allow the temporary Bush tax cut for the wealthiest Americans to expire."
Obama joins former North Carolina Democratic Sen. John Edwards in calling for higher taxes to help fix the nation's health care woes. Edwards wants to roll back the Bush tax cuts for Americans making more than $200,000 a year, and said he would also consider raising capital gains rates and Social Security taxes.
In addition, Sen. Christopher Dodd, D-Conn., is proposing a "carbon tax" that would be assessed on businesses based on how much pollution they generate, with the money to be funneled into a trust fund for renewable energy technologies. Though individuals would not be assessed any new taxes, businesses would almost certainly pass on some of their costs to consumers, leaving Americans indirectly paying new taxes.
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Well, here's a true recipe for growth: raise taxes on the investment class and blow all the in-theory-only added revenues on new, ineffective, wasteful welfare programs that will most likely exacerbate whatever "crisis" is at hand.
Slay the Golden Goose!
How easy is it to spot someone who has spent scant time in the private sector?!
Having once run a lemonade stand should be a prerequisite for controlling the public purse.
This economy continues, thanks to the enhanced (since 2003) rewards for productivity and the lowered cost of capital, to expand and create jobs despite the slowdown in housing and the unreasonable shackles of Sarbanes-Oxley.
The Fed government has lately been deluged with tax revenues.
The deficit is approaching a meaningless 1% of GDP as tax revenues as a percentage of GDP approach Clinton-era levels.
Wages and compensation are on the rise.
And these people want to raise taxes -- albeit only on those nasty rich.
After the last round of tax cuts something like half of those eligible actually pay no net income taxes.
Indeed many receive subsidies via the silly EITC.
Presumably these are "the working families" lauded by our class warfarist friends.
Apparently, if you pay income taxes you are like Kennedy, Kerry and Rockefeller -- you inherited your wealth or married into it.
You certainly did not earn your wealth.
You are not a "working family".
Rather than gum up the Great American Growth Machine with higher taxes, we should be slashing taxes on corporations to get them in line with most of the rest of the industrialized world.
We understand that this is not as effective politically as "Eat the Rich", but it is sound economics.
Even the socialist economies of Old Europe get it.
And many of the governments of former captive nations in Eastern Europe have embraced the flat tax.
Some of the dopiest people we know have law degrees from American universities.
Senators Obama and Edwards included.
posted by Mr. Buzzcut at 8:37 PM
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