Obama and McCain on taxes

Tell me lies, tell me sweet little lies...

Obama is singing some very pretty tunes, he sure makes his tax plan sound delicious. Certainly the prospect of punishing the rich and rewarding everyone else taps into the heart of every socialist soul out there.

Sure, he is going to grow government faster than anyone since FDR, but who cares? At least those pesky wealthy bastards get what they deserve! I mean, gosh, look at the wealth disparity. The rich are getting richer and...well...I don't know why, but apparently the poor are getting poorer. Right on.

Obama accuses McCain of being more of the same. Really? Let's see. McCain is refusing to punish the rich and spread wealth. Refuses to grow the government. Refuses to believe that the only way this country can get ahead is if we spread some money around. I guess Obama is right, he is more of the same. Not sure what he means by same, but it sounds bad.

I can at least get people to agree that more government is not the solution, right? After all, everything the govt touches usually turns to crap. So why would you want to allow the govt to take in more money? To do what? Create more wonderful programs like Social Security? What a winner that is!

But taxing the wealthy is very similar to pouring hot water on an ant hill. You don't kill any ants, you just spread them around all over the place. But alas, wish it was so simple. The middle class takes the burden, always have and always will. Liberals laugh at trickle-down economics, but when virtually every tax hike on the rich results in the middle class forking over more cash - they are nowhere to be found. History has a nagging tendency to be right. Why do so many insist on ignoring it?

My latest video on the matter:

Comments

Post a Comment

Popular posts from this blog

The 2009 credit boom is coming to an end.

Image
The credit expansion boom of 2009 will eventually go down as yet another period of credit expansion promoted by the Fed that will have lead to another predictable bust.   Today, it will be interesting to examine how the various levels of production are behaving under years and years of artificial interest rate suppression.  It will also be helpful to look at charts and graphs examining the business cycle theory and the impact of time preference as taught by Mises. For starters, those new to the concept - a very brief paraphrasing of the general idea. Under a healthy functioning market people's consumer patterns impact their savings.  More consumption equals less saving and less consumption more saving.  In order to progress the society must save such that it can make investments in machinery, equipment, technology, etc if it hopes to increase the capacity of production.   Sure ,you can harvest 10 coconuts a day, consume them by night and repeat the process.  You can also defe
Read more

What is wrong with this country?

I was browsing the latest IBD poll and it finally struck me. I had this idea brewing for the past few weeks now and this particular poll hit a nerve. What jumped out was the age group and who they are likely voting for. Obama / McCain 18-24: 74% 21% The rest of the age groups are more or less even with ages 65+ leaning more for McCain. Those folks should probably avoid leaning - hazardous to their health. Now, if you are a member of this group and are part of the 74% you are probably feeling good about yourself. If you are in the 21% then you are probably used to feeling desperate and angry that your peers ostracize you as if you were the next coming of the bubonic plague. But this number is very telling. Showing to us that a large group of freshly minted liberals, on average still in college, is in a very good position to influence these elections. Enthralled by the concept of "what they want the world to be" and their utopian ideals they hammer their message to anyone willi
Read more

401k Takeover Proposal. IRAs in danger?

Just read a piece that made my blood boil. The story is from Carolina Journal, but I will paste the first paragraph below. Even if you currently do not have a 401k, this is the most dangerous proposal I have ever heard. The only similar example I can think of, would be the gold seizure under FDR. If this proposal becomes legitimate, you MUST write to your local representative, congressman, senator, etc. This will be absolutely crippling to our economy as investors will stage a mass exodus out of the market. If you want a demonstration of this in action, look at Argentina. They just did something very similar. I will keep my eyes on the story and will add further information to demonstrate just how dangerous this is. November 04, 2008 RALEIGH — Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration. Triggered by the
Read more