Archive for the ‘Economy’ Category

The Democrats’ GM Fiction

via The Democrats’ GM Fiction – The Editors – National Review Online.

“But Democrats have nonetheless made one of the most abusive episodes in the entire bailout era their economic cornerstone: the government takeover of General Motors.”

The just make it up. The fact is, this was all about union votes.

Peter Schiff to Democrats: Who’s up for banning corporate profits?

Peter Schiff to Democrats: Who’s up for banning corporate profits? « Hot Air.

Democrats happy to ban corporate profits!

RNC 2012: The GOP’s Confusion and Lies About the Debt

p>via Bob Cesca: RNC 2012: The GOP's Confusion and Lies About the Debt.

“The debt has increased by just 41.4 percent during the first several years of the president’s term, from around $10 trillion to $15 trillion. Ronald Reagan, on the other hand, presided over a near-doubling of the debt, increasing the number by 188 percent. Bush 41 presided over a 55.6 percent increase, and Bush 43 presided over an 89 percent increase. At the same time, the year-over-year increase in the debt under President Obama has dropped from 15 percent to 4 percent. The president also cut the deficit from $1.4 trillion in his first year to $900 billion in 2013 (projected by the CBO) — and it’s worth noting that $1.2 trillion of the 2009 deficit was inherited from a George W. Bush spending request in 2008.”

Amazing analysis being peddled by the left. Notice how there’s no revenue figures as if the Bush or Reagan tax cutes didn’t generate far more revenue than they cost. Dems don’t understand this fact and historical record that lower taxes mean higher revenues. Even Obama recognized this but he doesn’t care because it isn’t fair, according to him.

‘Les Riches’ in France Vow to Leave if 75% Tax Rate Is Passed

via ‘Les Riches’ in France Vow to Leave if 75% Tax Rate Is Passed – NYTimes.com.

“Even young, dynamic people pulling in 200,000 euros are wondering whether to remain in a country where making money is not considered a good thing.”

Less revenues but fair, right? Obama should run for President in France.

Obama Says His Economic Policies Worked!

via Blog: Obama Says His Economic Policies Worked!.

“As “proof” that his economic policies have worked, Obama cited the automobile industry bailouts.  He said, “I refused to turn my back on a great industry and American workers.  Three years later, the American auto industry has come roaring back.” 

Facts don’t matter to Obama. All that matters to him is his ideological viewpoint, not the effects of those who he wants to enforce them on.

Why the Rich Recovered and the Rest Didn’t

via Why the Rich Recovered and the Rest Didnt – U.S. Business News – CNBC.

“There is, however, a more simple, economic reason behind the disparity.The wealthy have a greater proportion of their wealth in stocks and less of it in homes. Stocks and financial investments have rebounded. Homes haven’t. Or at least, not as much.”

Froward this to Obama.

Democracy in America

Democracy in America.

“Recently, Ron Haskins of the Brookings Institution, a Washington think tank, testified before the House Budget Committee on the growth of the 10-largest “means tested” federal programs that serve people who qualify by various definitions of poverty. Here’s what Haskins reported: From 1980 to 2011, annual spending on these programs grew from $126 billion to $626 billion (all figures in inflation-adjusted “2011 dollars”); dividing this by the number of people below the government poverty line, spending went from $4,300 per poor person in 1980 to $13,000 in 2011. In 1962, spending per person in poverty was $516.”

How did we survice in the ’60’s and before?

A Recovery That Never Comes

A Recovery That Never Comes.

“More Americans have lost their jobs and their homes, and seen their incomes decline under Obama than under any president in history, and all of this in just one term. Yet this President, who has destroyed the dream of success for so many, imagines he has “a lot more work to do.” Just imagine how many dreams Obama could kill in another four years.”

His true calling was a community organizer, not leading a country.

Child Labor Laws | Farming | Department of Laor

The Department of Labor is poised to put the finishing touches on a rule that would apply child-labor laws to children working on family farms, prohibiting them from performing a list of jobs on their own families’ land.Under the rules, children under 18 could no longer work “in the storing, marketing and transporting of farm product raw materials.”

via Child Labor Laws | Farming | Department of Labor | The Daily Caller.

I have many fond memories of working on a farm as a kid during the summers. Pathetic over regulation from our Marxist overlords.

The American Spectator : The Poverty of Equality

The American Spectator : The Poverty of Equality.

“The problem, of course, is that men are not angels. We are driven by self-interest-not entirely, of course, but enough that giving everyone an equal share despite unequal contributions would severely deter work incentives. This is why in all those societies that have tried to enforce the more extreme vision of mandatory equality, totalitarian governments and poverty have emerged. And, by the way, in practice these societies are not very equal either. Richer and freer countries tend to have smaller income disparities than poorer and less free nations.”

Empirical evidence supports this philosophy and our Constitution is built around it.

Clueless About Job Creation

via Clueless About Job Creation | The Weekly Standard.

“In Washington, Obama didn’t suggest, much less propose, a single incentive or spur to private investment, yet he insisted “we continue to make investments in growth today.” These consist solely of government-funded jobs, such as “putting some of our construction workers back to work” and “helping states to rehire teachers.”

Ideologues are incapable of learning or trying something different. What actually works is secondary to their agenda.

‘Buffett Rule’ Millionaire Pays Thirty Times His Secretary’s Taxes (and Not Such a Different Rate)

Articles: 'Buffett Rule' Millionaire Pays Thirty Times His Secretary's Taxes (and Not Such a Different Rate).

“If one examines actual taxes paid, folks earning more do pay more. Even the left-leaning Tax Policy Center has admitted that households making $1 million dollars last year paid 29.1% of their income in federal taxes, while households making between $50-75,000 only paid at a 15% rate.

Further, neither the White House nor their propaganda arm in the media pointed out that the millionaires at their campaign event were major Democratic Party donors, with a vested interest in seeing Obama re-elected.”

It’s all a dog and pony show.

The Real Causes of Income Inequality

via Gramm and McMillin: The Real Causes of Income Inequality – WSJ.com.

“To vilify success and the rewards it garners is an assault not just on capitalism but on liberty itself. As Will and Ariel Durant observed in “The Lessons of History” 1968, “freedom and equality are sworn and everlasting enemies, and when one prevails the other dies . . . to check the growth of inequality, liberty must be sacrificed.”

Freedom vs equality.

The Obama Shift

The Obama Shift.

“Plus, I’ve said it before and I’ll say it again: the “Bush tax cuts” did not demolish this four-decade trend. In fact, they put things back on trend. In 2007, or four years after Bush’s second round of tax cuts, federal revenues were 18.5% of GDP (above trend), and spending was 19.7% of GDP (below trend). Everything I’m saying can be verified with the OMB’s own numbers. You should pray for the return of 2007.”

The liberal view is that the tax cuts added to the debt; they ignore that it was paid for with the growth it created.

Villaraigosa says L.A. must lay off ‘a large number of people’

Villaraigosa says L.A. must lay off 'a large number of people' – latimes.com.

“The announcement comes weeks after the city’s five-member employee bargaining committee, which includes Villaraiogsa, asked city unions to give up raises that are scheduled for the fiscal year that begins July 1. Those unions refused to reopen contract talks.”

Unions would rather have people lose jobs in a weak economy than give up any pay increases (i.e share the wealth). And they call other people greedy.