Matters of Ecomomics 3

Liberals of all stripes have long vilified the rich for not paying their fair share.  This is just one more big lie they love to tell.  Trump's tax proposal has caused the left to jump out of its skin.  Quote: "Scores of liberals immediately responded to this with some variation of, it is absolutely accurate and you stupid conservatives are allergic to facts!  I replied that my point was that while it's obviously true that many high-income earners will benefit from the proposed reforms, the plan also helps millions of non-rich people -- a reality that the tendentious Times headline ignores, in favor of landing a partisan hit.  Lower tax brackets would be reduced and rates would be slashed, the standard deduction would be doubled, and a hugely simplified system could empower many Americans to file their taxes without feeling forced to pay experts to help them navigate and comply with the Kafkaesque existing code -- to say nothing of across-the-board benefits that flow from a growing economy and turbo-charged job creation.  One liberal blogger inveighed that that discussing the very real benefits of tax cuts to small businesses, which are America's economic engine, amounts to "spin:"     https://townhall.com/tipsheet/guybenson/2017/04/28/do-the-rich-not-pay-their-fair-share-in-taxes-n2319837?  It has always amazed me of the perpetual ignorance the left displays when dealing with the subject of economics.  Most leftist are in love with Keynesian economics which is largely the cause of the economic mess we are in. This of course is not a full accounting of Keynesian economics but it in effect encourages government debt to stimulate economic activity.  To suggest debt is good is insanity.  Our national debt is $20 trillion and rapidly climbing and that does not account for the trillions more of unfunded government promises attributable to social security, Medicare, Medicaid, welfare programs and government retirement programs, etc. that have been mismanaged for many, many years. It is impossible to ever repay this amount of debt...it's  most likely consequence will be a future global economic collapse of epic proportions...resulting in much pain and suffering of undetermined duration.  The global effect is reality because nations across the globe are likewise burdened with uncontrollable debt and economic uncertainty.

Star Parker hits the nail on the head.  Quote: "In 2013, Obama did what liberals claim needs to be done. Tax the rich. Taxes were raised on the highest-income earners and another new tax was levied on investment income of the highest income earners. This was supposed to bring in $650 billion over 10 years in tax revenue. Instead, because of slower economic growth, estimates are, according to former Senator Phil Gramm, that revenues will be five times lower than this.  Free people create and produce. Politicians and bureaucrats produce hot air. Does Schumer really want to help the poor do better under freedom? I invite him to stop sending federal money to Planned Parenthood abortion clinics and to start talking about the importance of family and traditional values that the welfare state has wiped out in inner cities."   https://townhall.com/columnists/starparker/2017/05/03/trump-vs-schumer-on-taxes-n2321273?

Very important to read and understand.   http://click.e.independentlivingbullion.com/ViewInBrowser.aspx?

A giant step forward with making government expenditures more transparent.  We will have to wait and see how well it works.   https://www.theburningplatform.com/2017/05/13/u-s-federal-government-spending-is-now-a-single-unified-data-set/ 

This item provides more background to substantiate the claim that is should be abolished.  Past notes have discussed this matter and offered extensive information documenting its abysmal performance in complying with its chartered missions.   https://www.theburningplatform.com/2017/04/17/is-the-deep-state-creating-another-crash-of-1929/ 

Trump's tax plan brings the laffer curve back into being. Quote: "A white cloth napkin, now displayed in the National Museum of American History, helped change the course of modern economics. On it, the economist Arthur Laffer in 1974 sketched a curve meant to illustrate his theory that cutting taxes would spur enough economic growth to generate new tax revenue.  More than 40 years after those scribblings, President Trump is reviving the so-called Laffer curve as he announces the broad outlines of a tax overhaul on Wednesday. What the first President George Bush once called “voodoo economics” is back, as Mr. Trump’s advisers argue that deep cuts in corporate taxes will ultimately pay for themselves with an explosion of new business and job creation.    https://www.nytimes.com/2017/04/25/us/politics/white-house-economic-policy-arthur-laffer.html?    If the plan gets implemented we will have to wait and see if it works as advertised.  There are some legitimate nay sayers to the plan.  I sure don't know.

This is most disconcerting information regarding the economy.    https://www.theburningplatform.com/2017/03/29/the-market-has-its-head-buried-deep-in-the-sand/

This provides a visual representation of the burdens citizens bear at the hands of state government debts.  See how you stand within your state.   http://www.visualcapitalist.com/much-state-debt-rests-upon-shoulders/

George Burns