Archive for the ‘ Economy ’ Category

7 Myths about Taxes

Stephen Moore, Senior Economics Writer, for the Wall Street Journal, published an extremely interesting report on Tax Myths on the Manhattan Institute for Policy Research’s website.  I highly recommend reading it but it is a bit in-depth.

By no means do I wish to plagiarise his wonderful work but I would like to condense it.  I’m only going to list the ones I think are pervasive and make my own conclusions. Continue reading

Climate change godfather admits to being an alarmist.

I can recall seeing a documentary in the late ’80s featuring James Lovelock and his Gaia theory. I thought then “new ager” and while interesting, I dismissed both him and his theory as a pile of hooey.

To get an idea about what Gaia theory is about, much of this thinking is the centerpiece of James Cameron’s movie “Avatar”. Not wanting to get too far into the weeds, lay on top of Gaia theory the story about foreign invaders (white descendants of European settlers) who steal the land from the indigenous people (American “Indians”) so they can pillage the land’s resources (Capitalism is evil) and you have the setting and agenda of that movie. Ok, back out of the weeds.

This past April, the month when Earth Day is observed, James Lovelock gave MSNBC an interview where he admitted his claims regarding climate change was “alarmist”. Lovelock is regarded as “The godfather of global warming” and now, 20 odd years later he says

“the problem is we don’t know what the climate is doing. We thought we knew 20 years ago.”

I wonder if Al Gore, a snake oil salesman if ever there was one, spewed his morning coffee when he read this.

Doh!

Raise the debt limit

This video illustrates the analogy I made a few weeks back.  Republican or Democrat, you should watch this video all the way through.  If you are an elected official please watch it several times.  Better yet, watch it until you can recite the lines before they are spoken.  I want you to understand the mess you’ve created and refuse to get us out of.

The numbers

At the end of the video they display the numbers.  Lets take another look:

Total Household Debt:     $140,000
Household Income:          $21,700
Household Spending:        $38,200
Additional Debt*:          $16,500
Amount Cut:                   $385
     -about 1% of the total budget

This chart dissolves to the U.S. situation:

Total Federal Debt:  $14,000,000,000,000
Federal Income:       $2,170,000,000,000
Federal Spending:     $3,820,000,000,000
Additional Debt*:     $1,650,000,000,000
Amount Cut:              $38,500,000,000
           -about 1% of the total budget
* The video incorrectly labels this as “New Debt” it is not the new debt as that would equal Total Debt + the requested debt limit increase, I corrected this value in both charts.

Understand history and maybe you’ll avoid repeating it

Now pick up a history book on the French Revolution.  Every elected official in modern America should become very conversant on this topic.  France in the late 1780s was a nation with run-away debt, loose adherence to and even antagonistic attitudes toward religion.  This resulted in a revolution rooted in atheism, dissatisfaction with the government, economic collapse, and a government unable to control or change its course.

The result was a terrifying holocaust unlike any before and was unmatched until a similar economic collapse thrust a certain angry Austrian to absolute power over the Weimar Republic.

When there is a total financial collapse, society will also collapse.  The arrogance that always leads to this result is the attitude, it’ll never happen here.

Keep forcing our unborn grand-children co-sign the loans and the result will someday either resemble France, 1794, or Germany 1933.

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