Posts Tagged ‘bush tax cuts’

The Tax Cut misconception

Posted: December 3, 2010 by datechguy in economy, opinion/news
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As I was going door to door yesterday I stopped at a book store that absolutely screams “progressive” but is a mostly cool place with a fair amount of Anime and some wonderful used old volumes. At the store I asked the question I ask at almost every business, what would you do to stimulate the economy?

It was his opinion that the problems were systemic (first person to have that conclusion that I talked to) however there is one thing he knew for sure:

I wouldn’t give tax cuts to the rich.

I don’t know who he thinks actually hires people (I’ve never seen a paycheck written by a poor person) but his opinion has been a distinct minority in the hundreds of doors I’ve knocked on in the last month.

It’s certainly not my business to argue with potential customers (and he is more than welcome to get on our customer waiting list with the show sold out) but let me make the opposite case.

It has been amply demonstrated that Cutting Taxes across the board increases tax revenue as the money gets spent over and over (and is taxed over and over at the lower rate). It’s a simple business principle. You make more money selling 5 items with a $1 markup then 2 items at a $2 markup.

Remember Williams Restaurant? If you can’t sell a $20 steak sell $8 burgers and sell more of them.

People seems to have this image of rich people as Scrooge McDuck with a Money Pile diving into it, or of Mr. Krabs chasing pennies, you are more likely to see the rich chasing profit and or comfort and both of those things generate jobs.

It is the rich who chasing profit, invest in new business’ and ventures financing both their ideas and the ideas of others. This is the a big job creator.

And it is also the rich who after making said money buy expensive things like yachts and customer cars or restoring WW 2 Tanks and other expensive hobbies, this employees a lot of people.

And it is the rich who keep their houses spic and span hiring staff and cleaning companies and landscapers etc…

And if you are an artist, tell me who is going to pay you $5000 for some bent metal or a faux stuffed emu? It is not going to be the avg guy. It is either going to be the rich who have money or the government who is spending another persons money.

The truth is many people don’t care about the revenue levels, they are simply socialists looking to redistribute wealth and punish those who in their mind have too much.

The secret to a happy life is to not worry about if someone else has more than you. Do the best you can with what you have and appreciate it.

And as I type this the unemployment rate went up to 9.8%. Unexpectedly I’m sure.

I have a question for those who say Christine O’Donnell is losing big in Del

Posted: October 21, 2010 by datechguy in congress, elections, internet/free speech, opinion/news, politics
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You know the folks who spend all their time laughing.

Via Glenn we see this from ABC (all emphasis mine):

Chris Coons changed his previous position on the Bush-era tax cuts this morning telling me that he would support extending all of the tax cuts for everyone for “several years.”

“I am committed to extending the Bush tax cuts for 98 percent of Americans for everybody making up to $250,000, but I would extend them for everyone,” the Democratic candidate for Delaware’s Senate seat told me on “GMA.”

“I’d be willing to extend them for several years for all Americans, of whatever income if that also allows us to reach a bipartisan compromise that makes real progress in offering tax relief to small and medium businesses, to the home owners exception, to research and development,” he said.

That contradicts President Obama’s position and Coons’ own campaign website, which states “High-Income Bush Tax Cuts Should Expire on Schedule.”

The key take-aways from this?

1. The MSM has been making fun of Christine O’Donnell’s debate performances for the last three days. Yet this morning, after Delaware voters saw those same debates that the MSM laughed at it is Chris Coons NOT Christine O’Donnell who feels compelled to change positions.

2. Does a candidate 12 days before an election flip-flop on a key position if he is actually up 10+ points in a race?

3. What does it say about President Obama’s popularity that less than a week after he visits Delaware his candidate Chris Coons feels the need to run away from the president’s position.

I think O’Donnell wins this race as part of the big red wave as long as she doesn’t make the mistake of forgetting the people who got her there.

Update: Instalanche: Thanks Glenn and further along the lines of political reality check this out from my latest piece for the examiner:

The President of the United States is the most powerful man in the world. He won Massachusetts by 24 points yet 3000 people were bussed in from all over the state to attend. Boston is a city of over 600,000 the metro area is 4.5 million and it’s been voting democrat for 60 years yet the campaign didn’t have the confidence that they could draw on a Saturday three weeks before an election?

Coons flipped after an Obama visit, NRO reports Obama will be in Connecticut two days before election day. Will that leave Blumenthal enough time to run away from him?

Update 2: On GMA O’Donnell stands behind her 1st Amendment remarks while the Washington Post and the Widener law school itself have to edit their reports wholesale. Who are the idiots here?

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