Archive for taxes
More Proof That Higher Taxes on the Rich Will Not Raise Significant Revenues
Posted by: | CommentsOn October 9, 2010, Harvard economics professor N. Gregory Mankiw wrote an article in the NY Times entitled “I Can Afford Higher Taxes. But They’ll Make Me Work Less.” In it, Mankiw describes how taxation is a considerable disincentive for him to take extra work upon himself (on top of his job as a professor) such as writing and speaking. And as you may know, tax revenues form work that’s not being done, amount to exactly zero dollars. That article carries a prime example... Read More→
The Insanity of the Expiring Bush Tax Cuts
Posted by: | CommentsThe looming expiration date of the “Bush Tax Cuts” is fast approaching. The tax cuts are set to expire on January 1st, effectively raising income, estate, and investment taxes across the board on all income levels, and thereby spurring debates among politicians on what to do. President Obama and other Democrats such as Nancy Pelosi are proposing to extend the tax cuts for the middle class only, i.e. to individuals with incomes of less than $200,000 per year or households with less... Read More→
Obama’s 17 Minute Answer to Why He’s Raising Taxes During a Bad Economy
Posted by: | CommentsLast Friday in a town hall meeting, Obama was asked a question by a woman who basically wanted to know why Obama is raising taxes with the health care bill during tough economic times. Not wanting to give an honest answer, Obama twisted, turned and tiptoed around the issue while speaking for 17 minutes. My one sentence truthful version of the answer is that (to Obama) implementing socialist policies is more important than reviving the economy. Here’s a Fox News segment chronicling the... Read More→
Denmark Is No Proof that Socialism Is Good
Posted by: | CommentsThere seems to be a new (perhaps a recycled) argument about the greatness of socialism circulating around these days. I’m not sure what brought it forth, but I suspect it all started recently after Oprah did a profile of the country of Denmark. Denmark, as you may know, is a country with quite a lot of social programs. And so the argument goes: Denmark has a lot of socialism and is a successful country, therefore socialism is good. There are two main problems with this argument: 1. Is socialism... Read More→
