Category: Politics

Categories
Politics

VDH on Obama’s Version of the “Truth”

> The Obama health-care plan was once different from Hillary Clinton’s in that it never included an individual mandate, but then it did have a mandate, then it had a tax instead, and it ended up with a penalty. The only constant is that names change as circumstances dictate.

> …

> Someone said something about cutting the deficit in half within four years and, through borrowing, forcing unemployment under 6 percent, but I am not sure any more who it was — given that that was 42 months of 8 percent–plus unemployment and $5 trillion in borrowed money ago.

Yes we can?

Categories
Economics Politics

A Refresher on What is Wrong with Keynesian Economics

> Those who heaped high praise on Keynesian policies have grown silent as government spending has failed to bring an economic recovery. **Except for a few diehards who want still more government spending, and those who make the unverifiable claim that the economy would have collapsed without it,** most now recognize that more than a trillion dollars of spending by the Bush and Obama administrations has left the economy in a slump and unemployment hovering above 9%. (emphais mine)

A good article to revisit during the election season. It points out a number of problems with Keynesian economic theory, such as:

> First, big increases in spending and government deficits raise the prospect of future tax increases.

and

> Second, most of the government spending programs redistribute income from workers to the unemployed.

Those are only the first two.

Categories
Politics

Krauthammer on Romney’s Excellent Trip

> The Warsaw leg was a triumph. Romney’s speech warmly embraced Poland’s post-Communist experiment as a stirring example of a nation committed to limited government at home and a close alliance with America abroad, even unto such godforsaken war zones as Afghanistan and Iraq, at great cost to itself and with little thanks.

> …

> Look at how Romney was received. In Israel, its popular prime minister lavished on him a welcome so warm as to be a near-endorsement. In Poland, Romney received an actual endorsement from Lech Walesa, former dissident, former president, Cold War giant, Polish hero.

Excellent breakdown from Dr. Krauthammer.

Categories
Politics

Why We Lined Up at Chick-Fil-A

> We stood in line to show support of one of America’s great businesses, and to support that pesky little document called the Constitution — and the pesky little part of that document called the First Amendment. And the free-exercise clause. And the free-association clause, too.

That was the big reason so many of the people went there yesterday. I think that has gotten lost in the noise surrounding the issue.

Categories
Politics Sports

Webb Simpson Stands up to Chick-Fil-A

To read most coverage, you would never know there were people on the both sides of this issue. Yahoo Sports reports on what Webb Simpson treated yesterday:

> “Reasons for loving chickfila,” Simpson tweeted (all tweets, as always, sic’d): “They serve humbly They say “my pleasure” Food is great Polynesian is awesome Milkshakes are awesomest” Nobody on earth can disagree with that part about the milkshakes, at least.

Good for him. I have a ton of respect for someone willing to share his views, especially when his views are getting drowned out in the media coverage.

Categories
Law Politics

EFF Breaks Down the Saving High-Tech Innovators from Egregious Legal Disputes Act

First, I approve of using the SHIELD acronym. Second, I have not read the actual legislation yet, so I cannot give detailed comments. That being said, it sounds interesting:

> The idea behind the SHIELD Act is simple: if you sue someone, you better have a reasonable and good-faith belief that you are entitled to relief. In other words, a plaintiff needs to believe that a defendant actually infringes a valid patent before it sues. If it doesn’t, that plaintiff could be on the hook for the costs of litigation and for the winning party’s attorneys’ fees (which can cost hundreds of thousands of dollars in some cases).

And, probably most importantly:

> This bill is also important because it would only apply to software and computer hardware patents.

I am going to have to dig deeper into this one.

Categories
Politics

Spectacular Failure

[Dan Mitchell posted four charts](http://danieljmitchell.wordpress.com/2011/09/05/obamas-failure-on-jobs-four-damning-charts/) which illustrate President Obama’s spectacular failure with regard to jobs and employment. For example, the following chart shows how unemployment remains over 9 percent. This is 2.5 percent higher than Obama said we would reach if we passed the stimulus.

[![Employment Chart](http://blog.kivus.com/images/reblogged/thumbs/obama-unemployment.jpg “Employment Chart”)](http://blog.kivus.com/images/reblogged/obama-unemployment.jpg)

I agree with Mr. Mitchell that this is a spectacular failure.

Categories
Economics Politics

Why Keynesian Economics Fails Every Time it’s Tried

This (http://danieljmitchell.wordpress.com/2009/04/10/keynesian-economics-is-wrong/) gives a simple explanation of why keynesian economic theory is inherently flawed. Basically, you’re not not actually making more money, you’re simply taking money from your left pocket and moving it to your right.

Categories
Politics

Warren Buffet’s with a Bit of Tax Hypocrisy

Warren Buffet made headlines with his [op-ed in the New York times calling for higher taxes on those he defines as rich](http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html). The most direct criticism of Mr. Buffet’s claim that the rich are being “coddled” is that while the [effective tax rate on the rich has hardly changed](http://taxprof.typepad.com/taxprof_blog/2011/08/the-rich.html) since the 1980s, those in the [lower income quintiles pay dramatically less taxes](http://taxprof.typepad.com/taxprof_blog/2011/08/the-rich.html) from that time. Additionally, [Mr. Buffet’s claims that the middle class pays a larger share of their income has also been shown to be wrong](http://taxprof.typepad.com/taxprof_blog/2011/08/was-warren-buffett-right.html).

The latest criticism that cuts away at Mr. Buffet’s argument is his clear hypocrisy in making the claim.

>But if he were truly sincere, perhaps he might simply try paying the taxes the Internal Revenue Service (IRS) says his company owes? According to Berkshire Hathaway’s own annual report — see Note 15 on pp. 54-56 — the company has been in a years-long dispute over its federal tax bills.

>According to the report, “We anticipate that we will resolve all adjustments proposed by the U.S. Internal Revenue Service (‘IRS’) for the 2002 through 2004 tax years at the IRS Appeals Division within the next 12 months. The IRS has completed its examination of our consolidated U.S. federal income tax returns for the 2005 and 2006 tax years and the proposed adjustments are currently being reviewed by the IRS Appeals Division process. The IRS is currently auditing our consolidated U.S. federal income tax returns for the 2007 through 2009 tax years.”

Maybe Mr. Buffet should take a good look in the mirror before asking other people to pay what he things is their fair share.

(via [NetRight Daily](http://netrightdaily.com/2011/08/warren-buffett’s-taxing-hypocrisy/) h/t [TaxProf](http://taxprof.typepad.com/taxprof_blog/2011/08/warren-buffetts.html))