Thursday, March 27, 2008

Why Increasing Taxes and Economic Stimulation are Oxymorons


Again, this gets back to the commonsense concept that if your tax base does not grow that your tax revenues, no matter how high the tax rate, will not grow. 100% of 0 is still 0.

This simple concept is seemingly lost on the democratic presidential contenders as their fiscal policy platforms both consist of increasing taxes and letting the Bush tax cuts expire.

We're about to go into a recession. The US is faced with its largest financial banking crisis since the Great Depression. Everybody's net worth is decreasing and the dollar is worthless. And to solve this problem Clinton/Obama are going to

...raise taxes?

5 comments:

WomanHonorThyself said...

yup yup...its called Marxism!..lol..great work..Keep up the good fight!

jkruse said...

100% of 0 is still 0.

Thanks for the math lesson.

How much is 0% times infinity? It must be a lot more.

jkruse said...

p.s.:

JRoosh on 3-27:

We're about to go into a recession.

JRoosh on 3-21:

I submit there are four false reasons behind the unnecessarily grim outlook for the economy. All of them get a lot of attention. But they can be safely dismissed.

Thanks for keepin' it real.

Bike Bubba said...

You apparently don't figure out that this is a quote, do you, jkruse?

And yes, economic indicators can change in a week. Just ask anyone who was alive in 1929, and ask them as well what increasing taxes (Smoot-Hawley) and relentless intervention in the economy did for them.

(contrary to general opinion, both Hoover and Roosevelt intervened heavily in the economy in those years--see Rothbard for details)

For those of you in Rio Linda, you don't help my family's economy by taking 5% out of the family budget. That is, sad to say, what the Democrats want to do.

jkruse said...

No, I didn't realize it was a quote - I'm stupid, remember?

When somebody puts a quote on their blog without any other comment, I assume they're supporting that point of view.

What day did the recession start? Sunday? If it could have been scheduled with a little advance notice I'd have organized an event.