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Saturday, December 4, 2010 - 12:02pmSanction this postReply
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On a conservative website, I found this excellent comment on a somewhat related piece of Democratic deception:

"Nancy Pelosi is either ignorant or one of the most deceitful people in government. Consider this statemement:

'Giving $700 billion to the wealthiest people in America does add $700 billion dollars to the deficit. And the record and history shows and does not create jobs.' Hear it live in her own words: http://townhall.com/tipsheet/GregHengler/2010/12/02/pelosi_unemployment_checks_create_jobs--tax_cuts_to_rich_do_not!

Can you believe it?!? According to Pelosi, letting wealthy business people keep $700 billion of their own money (not taxing it away) does not create jobs and in fact adds $700 billion to the deficit! This from the speaker of the House! Could anyone in a leadership position within our government be any more deluded. She doesn't even understand what a deficit is. Incredible! As the commentator notes:

"Keeping the current tax rates does not 'give' money to anyone. Taxation 'takes' money from those who have earned the money. It's theft by government decree, and millions of people think it's OK. While most Americans would agree that stealing is wrong, they don’t seem to have a problem if someone steals for them. Consider the following: If John has a financial need, would it be right for him to rob his neighbors to supply that need? Most people would say no. Would it be right for John to get some of his friends to steal for him? Again, most people would say no. What if John convinces enough people to create a civil government that takes money from his neighbors to pay for things John and others need?"


(Edited by William Dwyer on 12/04, 12:07pm)


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Saturday, December 4, 2010 - 3:15pmSanction this postReply
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It took me all the way to the end of the article to see the point Reisman was making, and it never got stated that clearly.  So here's another way to say the same thing.

Traditionally we can talk about the government budget as being one part spending and one part taxation.  To get rid of a deficit, you can increase taxation or decrease spending.  But lately politicians have been blurring the distinction.  They started describing tax cuts as spending, as if letting people keep their own money was a gift from the government who is the real owner.  And even when debating increasing taxes, they talk about anything short of what they want to tax as being a kind of spending.  They call these tax expenditures.  And by claiming that a tax reduction, or a lack of tax increase is really a kind of spending, they obscure the difference between spending and taxation in regards to the budget.  They can then claim to be reducing spending (which many people think we should) by actually increasing taxes!

As an aside, it's interesting to see the arguments that are being made by conservatives.  Some argue that increasing tax rates does not increase tax revenue, so this would really be hurting the poor.  And others argue that letting people keep their money will stimulate the economy and create jobs, which would help the poor.  They have no moral defense against the idea that government should take every last dime from the rich.  They can't say that it's their money, and how dare you treat them as mere means to your own ends, as if their lives and hard work only exists for your pleasure!  They have to try to fight it on altruistic and collectivist grounds.


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Sunday, December 5, 2010 - 2:50amSanction this postReply
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Consumption/Production : Production/Consumption .Simple formula yet obviously a lot of hysterisis in the system. Said hysterisis being brought on by an emotional insecurity of an emotional shortsightedness.
Every six months I receive my tax bill and amongst the stern wording it is still my responsibility to assure that the taxes are paid on the correct parcel number. On this tax bill are some I utilize and some I do not utilize so much. I appreciate the Local library and the recycling. Then county levies, okay so it is winter and the salt trucks will be doing what they can to keep the roads safe. Also Airport and Zoo fees. So much for my exposure to Tax Number One. So much for feeling sophisticated. The is also an administrative fee, possibly taxed as income somewhere down the line, possibly it may go to the bank for processing the bill.
My question is does taxation, reasonably applied raise and or confirm the value of ones retained symbol of ones resources? Presuppose for an instant that the short term capital gains tax was reduced to zero. Unless this was agreed upon unilaterally said market would be pumped and dumped faster than the "Spaniards" could melt down yankee eagles.  


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