Saturday, October 23, 2004
Saturday October 23, 2004
On November 2, the entire civilised world will be praying, praying Bush loses. And Sod's law dictates he'll probably win, thereby disproving the existence of God once and for all. The world will endure four more years of idiocy, arrogance and unwarranted bloodshed, with no benevolent deity to watch over and save us. John Wilkes Booth, Lee Harvey Oswald, John Hinckley Jr - where are you now that we need you?Mover Mike
The Oregonian in the Business Section today has a news story titled Bush's cuts redefine tax code attributed to Jonathan Weisman of the LA Times-Washington Post Service. The article says that
since 2001, Bush has signed tax cuts of $1.35 trillion, $42 billion, $350 billion, $146 billion and $143 billion over 10 years.That's a total of $2.031 trillion or $203.1 billion per year. The article goes on to say
Bush has lowered income tax rates at every income level and carved out a new 10 percent bracket from the 15 percent that had been the lowest. The child tax credit was expanded from $500 to $1000. Married couples, especially those in the middle-income range, received a significant tax break. The estate tax is expected to disappear by 2010.There's more, but you get the idea. This is supposed to be a news story. Now we get the biased part
But all this come with a cost. ...The budget deficit of $413 billion for the fiscal year that ended Sept.30 was a record in dollar terms, surpassing the record of $377 billion set in 2003.First, we had a recession, we were attacked, we went to war and we cut taxes by $200 billion per year, yet the deficit rose year over year by only $36 billion. That must mean that cutting taxes spurred the economy. Second, why is it a bad thing for taxes as a percent of GDP to go down? Can the government spend our money better than you and I can? Third, Weisman is relying on unified budget numbers rather than GAAP budget numbers which are about four times higher. We might have a greater propensity to economize if we knew the true extent of the government spending problem. I say, "Giving money to politicians only encourages them to spend more of our money!"Mover Mike
Even as the economy has recovered from the 2001 recession, taxes as a percentage of the economy have fallen for four straight years to 16.2 percent of GDP
Jerry Fuhrman at From On High writes about the flu vaccine shortage. The NYT says there's a shortage because of the lack of an effective plan.... Jerry says that government controlled pricing has led to shortages. He suggests government get out of the way and let Capitalism do its job.
You know when the Libs see a problem, rather than let the market solve the problem, they bring in the government. Then when the government meddling causes other problems, they want more government.
Prestopundit BUSH VS. KERRY -- OFFICER TEST SCORES has a link to some incredible research done by Steve Sailer at VDare about the IQ's of Kerry and Bush. The results might surprise you!
Speaking about research, be sure to read Desert Rat Ramblings. He has done some research into the amount of money THK paid in Social Security taxes. He asks do we have another Nannygate here?