Retire the Debt Overnight?
What if we could raise the revenues to erase the Federal debt overnight? What would be the results?
Tax the Rich?
Tax the Rich?
Can we tax the rich out of our fiscal problems? Professor Anthony Davies explains that, "The budget deficit is so large that there simply aren't enough rich people to tax to raise enough to balance the budget."
How Do We Balance The Budget?
Regardless of who wins the upcoming Presidential election, there are hard decisions to be made to avoid a financial disaster in our country. Federal spending is out of control with no apparent end in site. At the time of this posting the Federal debt exceeds $16 Trillion.
"Stimulus" Doesn't StimulateAnother great video by Professor Anthony Davies which shows the data to explain that Federal "stimulus" spending programs do not help to grow the economy.
Are You Getting It Yet?Tony Robbins uses information originally compiled by blogger IowaHawk and updates it for 2012. This takes a look at what would happen if we did soak the rich.
A Spending Problem
How Do We Balance The Budget?
Regardless of who wins the upcoming Presidential election, there are hard decisions to be made to avoid a financial disaster in our country. Federal spending is out of control with no apparent end in site. At the time of this posting the Federal debt exceeds $16 Trillion.
"Stimulus" Doesn't StimulateAnother great video by Professor Anthony Davies which shows the data to explain that Federal "stimulus" spending programs do not help to grow the economy.
Are You Getting It Yet?Tony Robbins uses information originally compiled by blogger IowaHawk and updates it for 2012. This takes a look at what would happen if we did soak the rich.
A Spending Problem
Revenue - Spending = Deficit
It is a simple equation, really...why does Washington not seem to understand it? Our country's debt problem is simply a matter of spending more than the available revenue.
The Debt from Two Perspectives:Two views of the national debt...and both are bad.
D or R...Government Keeps Growing:
Jack Hunter nailed it again. This is what I'm talking about...and why I'm not very hopeful that the next Republican president will really offer much in the way of solutions.
It's the Debt, Stupid!
Professor Anthony Davies of Duquesne University recently put together this informative video forLearnLiberty.org about the dangers of too much national debt.
It's Simple Math:
It is a simple equation, really...why does Washington not seem to understand it? Our country's debt problem is simply a matter of spending more than the available revenue.
The Debt from Two Perspectives:Two views of the national debt...and both are bad.
D or R...Government Keeps Growing:
Jack Hunter nailed it again. This is what I'm talking about...and why I'm not very hopeful that the next Republican president will really offer much in the way of solutions.
It's the Debt, Stupid!
Professor Anthony Davies of Duquesne University recently put together this informative video forLearnLiberty.org about the dangers of too much national debt.
It's Simple Math:
"We're just gonna have to face the arithmetic. All the money in the world is gone! It's been pillaged by the weak-willed, power hungry elitists who have stolen it to buy votes and stay in power. That's the arithmetic."
The Keynesian Perpetual Motion Machine:
This post compares the economy to the classic model of the mythic Perpetual Motion Machine...how the government adherents of Keynesian monetary policy believe they can make the machine work by inserting "Stimulus Money"...and why it doesn't work.
The National Debt in Perspective:
The current debt level is more than $14 Trillion. This is a very…very large number. That’s fourteen followed by 12 zeros. But, let’s add a little more perspective...
How Poor Are Our Poor?
Bill Whittle of PJTV makes an excellent point in the video below that I have been complaining about for years. Namely, that the so-called "poor" in America are not really poor and that our tax money...the 50% or so of us who are paying taxes...should not go to support most of those who are receiving entitlements. I have long contended that someone who is "poor" does not have cable TV...does not have a cell phone...does not have an Xbox. These people are not poor and I don't want to pay for their cable bill or to buy them cigarettes or Twinkies...
Rich vs. Poor:
"There are three kinds of lies: lies, damned lies, and statistics." This phrase, attributed to Benjamin Disraeli, seems quite applicable to many areas of politics...none more than the subject of the poor.
Competing Money:
Friedrich A. Hayek, famous economist and author of The Road To Serfdom, said the following concerning money in an interview:
"Oh, I am absolutely convinced that no government is capable of...politically or intellectually...of providing the exact amount of money that is needed for economic development. And, I should be all in favor...in fact, I'm convinced we shall never have decent money in name before we take from government the monopoly of issuing money and allow competing institutions...of course under different names...not issue the the same money, but competing monies...and let people decide which kind of money they prefer to use."...
DO NOT RAISE THE DEBT CEILING!
Links to two videos that explain the debt and why raising the debt ceiling is such a bad idea.
Capitalism...Not What You May Have Been Told:
As I study the history of this country, more and more I find that much of what we've been told is a cartoon version of reality...and many cases, a pure fabrication. Why would anyone fabricate history, you ask? Because they want to promote an agenda. And in this country, where we have government-run schools, that agenda is pro-big government.
In the linked video, Tom Woods speaks of some of the revisionism we have all been subjected to when it comes to the history of capitalism.
The Democrats' Spending Addiction and the Codependent Republicans:
It has become very obvious that the Democrats are absolutely addicted to spending. And they act just like addicts do...Despite being on the verge of going the way of Greece, they deny that there is a problem...they blame others for the problem, that isn't really a problem anyway, they look for new ways to hide and disguise their addiction, and they routinely lie about their addictive behavior.
But, what about the Republicans? Well, they have a long history of being enablers and codependents...
Foreign Policy and Spending:
Links to a great video by Jack Hunter of the American Conservative which discusses the effects of foreign policy on debt and spending.
Budget Cuts - No Sacred Cows:
This is a challenge to all Americans...but especially to those who call themselves conservative...mostly because those who call themselves liberal really don't think there's a problem. With the large deficit and debt our country faces, we must be willing to look at all areas of the Federal budget for potential spending cuts. We must not be like so many others who say, "It's okay to cut those people's favorite program, but you can't cut mine." We must be willing to sacrifice our own "sacred cows."...
High Cost Government:
In a linked video, Judge Andrew Napolitano speaks about the High Cost of Government Control in this country and the need to return to "first principles."
Budget Cuts Across The Board!
With all of the discussion about deficits, debt and government budgets, we see all of the usual suspects coming out of the woodwork to cry that you can't cut THEIR thing...THEIR thing is the most important of all. Apparently, if we even cut 1% of the budget, terrible, terrible things will happen. Children will starve to death, old people will be made homeless and all infrastructure and public safety services will fail..."real wrath of God type stuff. Fire and brimstone coming down from the skies! Rivers and seas boiling! Forty years of darkness! Earthquakes, volcanoes...The dead rising from the grave! Human sacrifice, dogs and cats living together... mass hysteria"*...
Why Feed the Pig?
In a previous post, The Utility of Federalism, I laid out some of the benefits of the Federal form of government that our founders gave to us over the mostly National system we have now. In this installment, I want to consider why it is unwise to trust so much of our money, and therefore power, to the centralized bureaucracy in Washington D.C.
In recent days, I have been assailed by claims that the crazy Tea Party tax cutters are going to cause the country's infrastructure to collapse and return us back to the 18th century. This, to me, sounds like the echoing, desperate squeals of the panicked "federalus porkulus," the Federal pig, a creature that grows ever fatter and who's appetite cannot be satiated...
Tax Rates, Revenues and The Economy:
There was a very interesting and straight forward article at The American Thinker that explained the real effects of the Bush tax cuts on the deficit and the economy. Particularly interesting was the explanation of The Laffer Curve, which has been around for a long time (1974) and has proven true since. Simply stated, the Laffer Curve illustrates the effects of raising tax rates on revenue received by the government...
It's The Economy, Stupid:
With all the talk of socialized medicine and corporate bailouts as of late, it may have slipped your attention that the United States of America itself is on the verge of needing a bailout. Even with the Federal deficit at historical highs and continuing to grow, our political leaders are continuing to spend money like there’s no tomorrow. It’s like an addiction; they just can’t seem to stop themselves...
The Keynesian Perpetual Motion Machine:
This post compares the economy to the classic model of the mythic Perpetual Motion Machine...how the government adherents of Keynesian monetary policy believe they can make the machine work by inserting "Stimulus Money"...and why it doesn't work.
The National Debt in Perspective:
The current debt level is more than $14 Trillion. This is a very…very large number. That’s fourteen followed by 12 zeros. But, let’s add a little more perspective...
How Poor Are Our Poor?
Bill Whittle of PJTV makes an excellent point in the video below that I have been complaining about for years. Namely, that the so-called "poor" in America are not really poor and that our tax money...the 50% or so of us who are paying taxes...should not go to support most of those who are receiving entitlements. I have long contended that someone who is "poor" does not have cable TV...does not have a cell phone...does not have an Xbox. These people are not poor and I don't want to pay for their cable bill or to buy them cigarettes or Twinkies...
Rich vs. Poor:
"There are three kinds of lies: lies, damned lies, and statistics." This phrase, attributed to Benjamin Disraeli, seems quite applicable to many areas of politics...none more than the subject of the poor.
Competing Money:
Friedrich A. Hayek, famous economist and author of The Road To Serfdom, said the following concerning money in an interview:
"Oh, I am absolutely convinced that no government is capable of...politically or intellectually...of providing the exact amount of money that is needed for economic development. And, I should be all in favor...in fact, I'm convinced we shall never have decent money in name before we take from government the monopoly of issuing money and allow competing institutions...of course under different names...not issue the the same money, but competing monies...and let people decide which kind of money they prefer to use."...
DO NOT RAISE THE DEBT CEILING!
Links to two videos that explain the debt and why raising the debt ceiling is such a bad idea.
Capitalism...Not What You May Have Been Told:
As I study the history of this country, more and more I find that much of what we've been told is a cartoon version of reality...and many cases, a pure fabrication. Why would anyone fabricate history, you ask? Because they want to promote an agenda. And in this country, where we have government-run schools, that agenda is pro-big government.
In the linked video, Tom Woods speaks of some of the revisionism we have all been subjected to when it comes to the history of capitalism.
The Democrats' Spending Addiction and the Codependent Republicans:
It has become very obvious that the Democrats are absolutely addicted to spending. And they act just like addicts do...Despite being on the verge of going the way of Greece, they deny that there is a problem...they blame others for the problem, that isn't really a problem anyway, they look for new ways to hide and disguise their addiction, and they routinely lie about their addictive behavior.
But, what about the Republicans? Well, they have a long history of being enablers and codependents...
Foreign Policy and Spending:
Links to a great video by Jack Hunter of the American Conservative which discusses the effects of foreign policy on debt and spending.
Budget Cuts - No Sacred Cows:
This is a challenge to all Americans...but especially to those who call themselves conservative...mostly because those who call themselves liberal really don't think there's a problem. With the large deficit and debt our country faces, we must be willing to look at all areas of the Federal budget for potential spending cuts. We must not be like so many others who say, "It's okay to cut those people's favorite program, but you can't cut mine." We must be willing to sacrifice our own "sacred cows."...
High Cost Government:
In a linked video, Judge Andrew Napolitano speaks about the High Cost of Government Control in this country and the need to return to "first principles."
Budget Cuts Across The Board!
With all of the discussion about deficits, debt and government budgets, we see all of the usual suspects coming out of the woodwork to cry that you can't cut THEIR thing...THEIR thing is the most important of all. Apparently, if we even cut 1% of the budget, terrible, terrible things will happen. Children will starve to death, old people will be made homeless and all infrastructure and public safety services will fail..."real wrath of God type stuff. Fire and brimstone coming down from the skies! Rivers and seas boiling! Forty years of darkness! Earthquakes, volcanoes...The dead rising from the grave! Human sacrifice, dogs and cats living together... mass hysteria"*...
Why Feed the Pig?
In a previous post, The Utility of Federalism, I laid out some of the benefits of the Federal form of government that our founders gave to us over the mostly National system we have now. In this installment, I want to consider why it is unwise to trust so much of our money, and therefore power, to the centralized bureaucracy in Washington D.C.
In recent days, I have been assailed by claims that the crazy Tea Party tax cutters are going to cause the country's infrastructure to collapse and return us back to the 18th century. This, to me, sounds like the echoing, desperate squeals of the panicked "federalus porkulus," the Federal pig, a creature that grows ever fatter and who's appetite cannot be satiated...
Tax Rates, Revenues and The Economy:
There was a very interesting and straight forward article at The American Thinker that explained the real effects of the Bush tax cuts on the deficit and the economy. Particularly interesting was the explanation of The Laffer Curve, which has been around for a long time (1974) and has proven true since. Simply stated, the Laffer Curve illustrates the effects of raising tax rates on revenue received by the government...
It's The Economy, Stupid:
With all the talk of socialized medicine and corporate bailouts as of late, it may have slipped your attention that the United States of America itself is on the verge of needing a bailout. Even with the Federal deficit at historical highs and continuing to grow, our political leaders are continuing to spend money like there’s no tomorrow. It’s like an addiction; they just can’t seem to stop themselves...
