Friday Link Wrap-up
The Dalai Lama calls himself a Marxist.
An "unexpectedly" we could do with down here. "Canada Jobless Rate Unexpectedly Declines in May to Its Lowest Since 2009" It’s down to 7.4 percent. We’re adding government jobs and they’re adding private sector jobs. Our dollar is getting weaker while theirs gets stronger. “Our economy has one of the best records in the area of job creation in comparison with other industrialized countries and this is why we will continue to keep our taxes low,” Prime Minister Stephen Harper told lawmakers on June 8. Lessons to be learned here.
Obama finally figures out, "Shovel-ready was not as shovel-ready as we expected." Which is one big reason why the stimulus didn’t stimulate.
Civility Watch: “Good afternoon brothers and sisters. Welcome to Nazi Germany….Brothers and sisters, this is not going to be an easy fight,” he shrieked. “It took World War II to get rid of the last Adolf Hitler. It is going to take World War III to get rid of Adolf Christie. Are you ready for World War III?” Union leaders are setting the example in New Jersey.
Soaking the rich won’t work the way the Left intends. Historical tax rates vs actual receipts put the lie to the idea that raising rates will necessarily bring in more revenue.
When even actor Aston Kutcher comes to the aid of Sarah Palin, you know the media has gone way too far.
And speaking of which (click for a larger version):
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Glad you trust the Murdoch Street Journal. The rich aren’t being soaked. Maybe Reich made that statement but it’s not in the cards. The extension of their tax cuts was close to immoral. However, the fact that so many Americans (almost 50%?) pay nothing is also immoral. No one should pay nothing. Any living breathing adult should at least present the country at least a Jackson for the privilege of living here.
Thing is, the former philosophy results in the latter outcome. Democrats have so pandered to voters that the number of lower income non-taxpayers has actually recently slipped above 50%. But it’s OK, in their eyes, because we’re gonna’ get the rich guys.
Meanwhile, we actually are getting more money from the rich since the Bush tax cuts. A great FAQ is here. You may not like the paper that provided the stats, but the stats are what they are. This infatuation with tax rates is completely ignorant of actual tax revenues, which decline as rates go up because the rich change their behavior, as do any of us, when prices/fee/taxes go up. Income goes into tax shelters or offshore.
Are you driving less due to gas prices? I know I am. Why, then, do we think that this same behavior change doesn’t affect other areas of the market?
I just read a point by point refutation of this article. I do not consider Stephen Moore and the AEI to be a credible source.
Given that you’ve already shown that you discredit actual facts based on what media source they are reported in, who you do or don’t trust is clearly subject to partisanship more so than the truth.
Are you driving more with these gas prices?
The gas prices are falling and have been for weeks. Did you drive less when they exploded under Pres Bush?I’m far less partisan than you.
They’re still not in pre-Obama territory, by any means. Under Bush, they weren’t nearly this high, except for a few days after Katrina.
If you think price doesn’t affect demand, you need a little econ refresher.
Here’s an article from two weeks ago that predicted prices would fall because, indeed, consumer demand was falling.
Here’s an article from the beginning of the month that showed drops in auto sales (“the first decline since August”) partially due to fuel prices. This was for US automakers as well, so the Japan earthquake was not as much a factor for them.
Raise the price, lower the demand. Works for consumer goods and taxes, both. This is not partisanship; it’s standard economics. When rates go up, those that can shelter their income, do. Now, you may not like that, and fair enough. But the fact remains that, after a certain point, tax rate hikes will not result in tax revenue increases.
And who is responsible for those increases? And are the prices in your area falling or not?
re: Stephen Moore…he is a devotee of the Soviet atheist Jewess Ayn Rand. Are you? If so, how do you square her ‘philosophy’ with biblical Christianity?
Supply and demand are responsible for the price fluctuations, inasmuch as the free market is allowed to operate. Given that automakers have noticed a change in buying patterns partially due to fuel prices, that just makes my point.
I don’t much care for Objectivism. I do care for sound economic theory. Has little to do with Rand.