Americans have been exposed to a plethora of misinformation, prevarication, and spin artfully concocted by the Obama administration and its more-than-compliant media accomplices in the last four years. They have changed the Ten Commandments into the Ten Suggestions and the United States Constitution into a guideline to follow if it suits the agenda. America is so far gone and beyond repair that nothing happens in Washington unless it benefits the Democrat Party in general or the Obama regime specifically. Never before in our 238-year history as a representative republic have we been so polarized and divided.
Economic laws and mathematical axioms have been rendered meaningless as if gravity only exists if Barack Obama says it exists. He might have actually believed his own rhetoric when he said he could stop the rise of the oceans and heal the planet. Malignant. narcissistic. pathological behavior creates delusions such as a god-complex that actually creates its own reality. There is no longer right or wrong; only the moral relativism of the one in control matters. And Barack Obama is still in control of this country for four more years, if we survive that long.
The biggest folly going on in Washington D. C. right now is the sudden urgency to avoid the “fiscal cliff” by raising taxes on ‘those fortunate few’ who are most able to afford it, as the esteemed Senator Majority Leader Harry Reid keeps reminding us. O.K., Harry, we’ll take you at your word (although I can’t really tell you why) and tax the upper 1% of earners at a 99% tax rate for anything over $250,000. That would raise about $80 billion a year — enough to last about 8 days the way these spendthrifts are throwing it away. What do we do for the other 357 days of the year?
Two points: 1) Why don’t we ever hear about spending cuts and only hear about tax increases disguised by code-words like ‘revenue enhancement’? 2) How many people making $250k are going to keep working if they get taxed at 99%? Hint: Read Atlas Shrugged by Ayn Rand if you don’t know the answer. Soon, all the producers in this country are going to be going on strike. The moochers and the looters are going to have the wagon they are riding on pulled out from under them.
There is so much misinformation about economics. Either the Onion had it right when they listed “The 100 Worst Senators” in one of their typically sarcastic columns, or we are getting our legs urinated on by politicians who are then telling us it is raining. Or both. The Washington politicians are either unanimously, incompetent, or disingenuous (or perhaps a little of each.)
Where should a little Washington D. C. Economics 101 as it relates to the fiscal cliff begin? Let’s begin with the chapter on the Laffer Curve. For those uninitiated, Art Laffer was sitting at a table discussing taxes and tax rates during the Reagan era when he wrote a graph on a napkin that became an economic axiom.
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