Dems May Regret not Voting for Tax Cuts

from IBD:

GOP Tax Cuts Are Turning Out To Be A Disaster … For Democrats

Not long ago, Democrats expected that the GOP tax cuts would be a political disaster for Republicans, just like ObamaCare was for Democrats in 2010. How’s that prediction working out?

Writing in the Atlantic in December, longtime political reporter Ron Brownstein argued that “President Trump and congressional Republicans have just taken the same leap of faith that Democrats did when they passed the Affordable Care Act.”

He went on to note that after Democrats passed ObamaCare in early 2010 — despite strong public opposition — the backlash from voters “helped propel Republicans to the biggest midterm gain in the House for either party since 1938 and gave them a majority in the chamber they still haven’t relinquished.” read more

Tax Cuts Equal More Revenue

Welcome to the wonderful world of REAL economic dynamism. Gee – how much will tax cuts cost us, asked the no-nothing democrats.

from IBD:

Go Figure: Tax Revenues Climbed $18 Billion In First Month Of GOP Tax Cuts

The Congressional Budget Office says that federal revenues in January added up to $362 billion. That’s an increase of $18 billion— or 5.2% — from the year before. As a result, the government ran a surplus of $51 billion that month, which is equal to the previous January.

Wait, weren’t the tax cuts supposed to bankrupt the country to benefit the rich? It almost looks like the tax cuts — which took effect in January — are paying for themselves. read more

WND Exclusive – ALL INCOME IS 1ST THE GOVERNMENT’S

The Republican tax plan has finally made its debut. At first blush it appears pretty good. At its heart the plan is populist, but what can we expect in these times?

As one might expect of populists, it is geared toward the lower income scale, but does have a few cut-outs for the wealthier among us – and is certainly more business-friendly than the status quo.

However, we must remember that all tax legislation begins in the House, so this is just a starting point, and what we see is as good as it will be.

The bill isn’t going to improve from here out. It will only get worse – more watered down, as the Democrats’ long-knives predictably start tearing into it. read more

Tax Cuts and Discounts are Really the Same Thing

by: Brent Smith at the Common Constitutionalist

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As the tax debate in Washington heats up, we’re hearing the same tired old refrain of, “The rich don’t deserve nor do they need a tax cut.” It’s an absurdly populist statement. However, this time it’s coming from both the dems and republicans.

In defense of tax cuts for all, the rich included, let me first quote some boring facts and figures. Then I will attempt to inject some business sense into an otherwise senseless argument.

Tax cuts will in fact grow the economy, yet I heard the leftist billionaire Tom Steyer say that since the 1980’s, the top tax rate has been cut from 70% to under 40%. He adds that during that time wages for workers have stagnated. I won’t argue that point here.

I heard him say he got rich on Wall Street, so he knows all about the economy. If this is so, and we’ll assume it is – it would mean he’s lying by omission and knows he is. But he knows most aren’t schooled enough to catch him in the lie.

In fact the economy did grow massively after Reagan’s huge tax cuts. But wages are just a portion of economic growth. And wages, like almost everything else, do not occur in a bubble. Other things affect wages – not just growth, or lack of it.

First, would you rather have a job at slightly lower wages, or no job at all, which occurred during the Carter years? And of course wages often don’t tell the whole story. read more

Mitch McConnell and Trump are Suddenly BFFs

by: the Common Constitutionalist

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There’s something odd going on in the Republican Party. All of the sudden, Mitch McConnell appears to be leading the establishment wing of the Party toward Trump.

This is very strange indeed, for nary a kind, or even civil word has been said of the President lo these last several months by any the lords and ladies of the ruling class.

Now, the midterm elections are just over a year away. Historically the mushy moderates all start moving right like clock work, ala John McCain, attempting to convince (lie to) voters of their conservative bona fides – voters who have paid scant attention between the last election and this.

But it seems to be starting a bit early. And this may be due, at least in part, to republican internal polling – something of which we commoners in the general population will never be privy.

We hear constantly of how unpopular Trump is and that only his hardcore base is continuing to stand by him. Yet establishment Republicans are far less popular than Trump. And I’m guessing the latest batch of internal polling tells them so. read more

Who is America’s Greatest Modern Day President

There have been, and still are, great debates over who is America’s greatest President. Greatness is of course subjective and depending upon ones view point or political bent, the “greatest” can and does vary widely.

Many would agree on George Washington or Abe Lincoln. But what about the greatest modern day President – from say 1900 to today. Narrowing the field brings forth the usual suspects like Franklin Roosevelt, John Kennedy and Ronald Reagan.

Yet practically no one would ever think to include our 30th President even in the top ten. They’d be wrong.

In my opinion Calvin Coolidge, Silent Cal, who served from 1923-1929, was in fact our modern era’s greatest President.

Glenn Beck explains why: read more

Leftist Economist Paul Krugman is Like the Cleveland Browns

by: the Common Constitutionalist

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Paul Krugman – Biggest Loser

My apologies to all you Browns fans.

For regular readers, you know I use a lot of football analogies. Well – here’s another.

Say you get permission from the NFL to create an expansion team – a brand new professional football franchise.

You, the owner, do your due diligence and hire who you feel is the best available Coach and General Manager.

The League office encourages other teams to aid your new franchise, lending their expertise and advice on various issues regarding football operations, free agency, the draft, etc.

One day you sit down with your new General Manager and Coach and start making calls to other teams for guidance. So whom do you call? And who do you not?

If you’re smart, you call the proven winners – starting with the New England Patriots (of course), then move on to the Steelers, Broncos, Packers, Cowboys and Giants. You seek out the proven winners – franchises that show up in the playoffs either every year, or at least most years.

Who you don’t call is the Cleveland Browns, the Buffalo Bills, or Jacksonville Jaguars. No offence, but why would you or anyone take advice on building a winning franchise from teams that rarely, if ever, win. read more

Where Did All the Money Go?

You May Want To Be Sitting Down For This One – Maybe Have a Drink Or Two Or Three…

 

by: the Common Constitutionalist

What is the refrain of the left whenever anyone suggests tax cuts? Naturally it is, “How are you going to pay for them?”

And what about cutting government spending? Well, Democrats will cry, in unison, that there is no where to cut. By cutting spending, we will be ripping food out of the mouths of needy children, or some such nonsense.

Remember this statement – “There Is No Where to Cut“.

And we can’t forget the “Tried and True”, tax cuts for millionaires and billionaires will only hurt the middle class.

As a rather obvious aside: paying for tax cuts bugs the crap out of me. Why should we have to “pay” for a tax cut? It’s our money in the first place. But the government naturally treats our money as theirs first, and if there is anything left over, which they claim there never is, they will consider giving it back to us, the people.

Anywho, speaking of whining about tax cuts, there’s this from just a few months ago. A column written by Steve Benen entitled, “The Magical Cost of Tax Cuts“. read more

Tax Cuts Won’t Work

by: the Common Constitutionalist

 

In a recent interview at Yahoo! News, Amity Shlaes discussed her new book entitled “Coolidge”. The interview began with Yahoo news announcer Lauren Lyster, explaining that one of the big issues of Obama’s second term was tax reform and what could be learned from Calvin Coolidge.

Shlaes explained that: “The cutters; Reagan, Kennedy and going back to Coolidge all ended up with more money on the books due to extra business activity.”

These are irrefutable facts. Most every conservative and I have used the same argument for years. Cutting tax rates spur economic activity and growth, which leads to more jobs, more taxpayers and more revenue for the government. So let’s cut tax rates. It’s a proven winner. If you are a conservative, you know you’ve also use this argument.

Even Lindsey (woolsey) Graham, hardly a conservative, stated recently that flattening the tax code amongst other things could generate an additional $600 billion for the government coffers.

And there you have it. Graham has properly summed up the whole flawed tax cut argument in one sentence.

Well, I’m here to confess that I’ve been wrong. All these years of hammering tax rate reductions. I am man enough to admit it.

Now all you liberals reading this; don’t get too excited. To my conservative friends, buck up. I have not gone over to the dark side.

What I have had is an epiphany of sorts. It dawned on me that us freedom lovers have actually been arguing all these years for bigger government.

Think about just we’ve been advocating for; cutting taxes to get more tax revenue. Well, what will that additional revenue be used for? To grow government of course. So we are at least partially to blame for the growth of government.

In fact, we may be more to blame. Liberals and progressives are voted into office, raise taxes and ruin the economy. Then, what happens?
They are thrown out, conservatives are voted in, cut taxes, decrease regulations and voilà, increased revenue to the government. It doesn’t seem fair, does it?

In my humble opinion, the only way to save this country is not through tax rate reductions; capital gains rate cuts and the like. We know what will occur with their proper implementation; additional food for the beast.

We need to begin to advocate for smaller government. Decreasing the size of government is the only way of reining in spending at this point.

Now don’t get me wrong, I’m all for keeping as much money as I can, but I think we are beyond that point.

By shrinking government’s size, the rest may take care of itself. It’s been too often proven that we can’t starve it. Government will always find more money somewhere.

 

Fiscal Cliff

Although I don’t agree will all the following points of this article, Mr. Livingston does make one think.

The Fiscal Cliff Is A Mirage, But A Real Cliff Is Ahead

by: Bob Livingston

The Fiscal Cliff Is A Mirage, But A Real Cliff Is Ahead

Don’t worry over the so-called fiscal cliff. It is just the latest in a long line of crises created by the elected sociopath class as another ploy to extract more wealth from the American people and further advance its agenda.

The cliff you need to worry about is the one we are barreling toward regardless of how the fiscal cliff negotiations turn out. It’s the hyperinflation cliff. It’s dead ahead. It has become unavoidable. The Nation is in default.bush tax cuts

The fiscal cliff is the term adopted to refer to the end of the misnamed George Bush tax cuts (which expire on Dec. 31 and because Obama extended them in 2010, so we will rightly call them Obama tax cuts) and sequestration ($1.2 trillion in cuts to social programs and defense spending that kick in on Jan. 1 barring a budget deal). It’s an unpalatable option to the political class because the political class hates cutting government — which reduces the power of the state — and uses a progressive tax rate to help reinforce the Hegelian dialectic.

President Barack Obama and his redistributionist minions have drawn a line in the sand over the misnamed George W. Bush tax cuts. Obama wants to end his own tax cuts on those making more than $200,000 ($250,000 for joint filers). This, despite his statement in 2010: “You don’t raise taxes in a recession.”

The United States remains in the old or has entered into a new recession. As John Williams of Shadowstats.com writes here1 (subscription required): “[T]here has been no recovery in economic activity, since the economy plunged from 2006/2007 into mid-2009, just ongoing low-level stagnation. Reporting of retail sales, production and durable Wall Streetgoods orders shows the economy turning down, once again, into what will become recognized as the second-dip of a double-dip recession, likely timed from third-quarter 2012. The reality remains that current economic woes are an ongoing part of protracted economic collapse, not the beginning of a new cycle.”

While the “official” phony-baloney government statistics show U.S. gross domestic product rising steadily since late 2009, real GDP growth remains stagnant, as it has since late 2009, and mirrors real unemployment, retail sales and housing starts.

Federal Reserve Chairman Ben Bernanke has instituted QE3 to infinity. This will serve to prop up banks and the establishment, but it will hasten the demise of the dollar. (Watch the prices of gold and silver for confirmation.) It’s out-and-out theft from the American worker, saver and retiree.

QE3 and the unwillingness of the political class to make substantial and substantive cuts to government have prompted Williams to shorten his outer hyperinflation timeline from 2018 to 2014.

America is a warfare/welfare state2. A full 20 percent ($718 billion) of the Federal budget in 20113 was spent on perpetual war, defense and security-related international activities. “This portion of the budget is untouchable,” according the warfare wing of both parties.

Another 21 percent ($769 billion) went to Medicare, Medicaid and the Children’s Health Insurance Program (CHIP). An additional 13 percent ($466 billion) went to safety-net programs like SSI, food stamps, school meals, housing and childcare assistance, etc.entitlements “These are untouchable,” according to redistributionist class of both parties.

And 20 percent ($731 billion) paid for Social Security, which provided retirement benefits to 35.6 million workers and other benefits to another 19.8 million spouses and children of retired workers, spouses and children of deceased workers, disabled workers and their eligible dependents. Social Security is considered an entitlement program, but it should not be since it is supposedly funded by money confiscated from workers — who had no say in the matter — to fund their retirement. The program was long ago looted by the elites and is the biggest Ponzi scheme in history. “Social Security is sacrosanct and untouchable,” leadership of both parties lie to you as they confiscate the funds faster than they pour in.

Obama and his redistributionist minions play the class-warfare game to perfection, pitting the poor against the so-called rich in order to steal more from the middle class. Their big lie is that the “rich” pay a lower percentage of income in taxes than the poor or middle class. The politics of envy —The-Politics-Of-Envy nasty, vile and green wealth envy that causes some to wish ill will or disaster on others who have enjoyed more success and has turned to hatred in the hearts of many — is advancing us toward total totalitarianism.

And now Republicans — supposedly the party of low taxes and smaller government — are joining the growing ranks of redistributionists and feeding the dialectic.

According to Internal Revenue Service data5, the highest average tax rates in America are paid by those making between $1.5 million and $2 million. Their tax rate is 25.1 percent. Tax rates then begin to fall on incomes greater than $2 million, as a greater percentage of income comes from capital gains and dividends. Still, those making more than $200 million pay an 18 percent tax rate on their adjusted gross income.

Those making $1 million to less than $1.5 million pay a 24.9 percent tax rate. Those making $500,000 to less than $1 million pay 24.1 percent, and those in the $200,000 to less than $500,000 range pay 19.6 percent. Tax rates below $200,000 break down as follows:

  • $100,000 to less than $200,000 incomes pay 12 percent.
  • $50,000 to less than $100,000 incomes pay 7.5 percent.
  • $30,000 to less than $50,000 incomes pay 4.8 percent.
  • Those making less than $30,000 paid no Federal taxes6 after deductions and credits.

Representative Tom Price (R-Ga.) says Obama’s plan to increase taxes on the rich will generate only enough revenue to fund the Federal government for eight days7. What he doesn’t tell you is that income taxes don’t fund the government. They are simply a wealth redistribution/information gathering tool used by the government.wealth redistribution

Price is one of the employees of the state who daily work to propagandize the masses on the idea that there is government debt and that money (sometimes called “revenue” to fool the people with doublespeak) to pay that debt must be confiscated from the masses. But there is no debt. Ask yourself this question: If you had a machine that would crank out an unlimited number of bills, would you have debt? Of course not. And that’s what government does.

Government debt is a world-class delusion. It is a tool used to justify theft and redistribution. And it has worked to perfection, pitting the have-nots against the haves, while the 1 percent (government workers and elected class) make out like the bandits they are. Meanwhile, many become ever more embittered over the idea that someone may have a greater pile of worthless green paper strips than they do.

It won’t be too much longer before people will be papering their walls with the green paper strips they’re so jealous of others for having. Study your history, and look to Weimar Germany as the example.

Workers were transporting wheelbarrows of cash to the store for bread, hoping to arrive before the prices changed. The price of coffee would triple between the time it was poured hyperinflationand the time it was consumed and the check arrived. Mothers prostituted themselves so their kids could be fed.

The next U.S. Great Depression is the cliff to be concerned with. Time is short. Store food (buying it now is also a hedge against inflation) and water, guns and ammunition, and personal hygiene items. Accumulate silver and gold. This Christmas, give silver as a gift that keeps giving — especially pre-1965 U.S. silver coins:

  • Dec. 1, 2000: silver $4.69/oz.; today: silver $34.28/oz.
  • Dec. 1, 2000: Dow Jones industrial average 14,053; today: DJIA 13,023.

Times will be especially difficult for the unprepared and those who depend upon the system for sustenance.