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Obama’s 2nd term news – Part Three

It’s time for some more good news about how well things are going, and it comes to no surprise to me that as they see the writing on the wall companies are protecting their corporate assets from being plundered by the greedy tax and spenders. Way too many of the top publicly traded corporate spenders are letting us know that they are going to curtail capital expenditures this year or next. That’s happening as a response to those that want to fleece corporations, because American companies already being the highest taxed just isn’t enough of a handicap. This move is certainly gonna help create jobs and improve the economy. Right? Not to mention that taxes are never paid by companies, but by the customers buying their products.

But why stop at fleecing corporations? Krugababe thinks we should go back and enact some Carteresque tax rates, 91% to be exact on the greedy rich “peopolz”. Cause that used to work out so well back in the day! This moron’s argument is that they had the rate in the fifties and the economy was booming then. That the economy was booming because people, freed from the rationing and saving of the WWII years, sitting on top of an enormous amount of savings, and living in the only modern industrial country not devastated by WWII, had no other way to go. Yes, Krugababe, the economy, fueled by unique circumstances and unlikely to ever happen again, boomed. That was DESPITE that ridiculous tax rate you now advocate. Can you imagine how much more robust the growth would have been without that rate and all that extra money to invest? The problem isn’t that government is sucking too little blood from the wealthy: it’s that government is spending way, way too much money to ever collect enough revenue, regardless of what the tax policy is, and keep a working economy. But why get hung up on reality when you have some twit with a Nobel advocating we stop strangling the goose that laid the golden eggs, and just gut the damned thing already to take all the eggs at once.

Then again, I think Krugman isn’t as crazy as Geithner, yeah he of the unpaid taxes, who thinks that we simply should have no debt limit whatsoever. Why not let these crooks spend whatever they want, regardless if we can afford it, because that’s good for the vote buyers in power. You need a lot more cash available if you plan to steal a lot of cash. This sort of thinking worked so well for Zimbabwe too. And if you want some feedback on how all this taxing and spending works, check out Hollande, whom just destroyed the anemic French economy on a matter of months. The fool thinks that his tax hikes and wealth fleeing the country will somehow make things better 5 years down the line. Or at least, that’s what he wants the rubes to believe. And speaking of France, can you believe the enlightened people of that nation are homophobes? Merde, ce n’est pas possible!

There is some good news, however. The stock market is up, because these people think that our politicians will reach a deal now that Boehner basically said he would cave in on the higher tax issue, while the democrats were enthusiastic about gutting military spending while leaving the entitlement behemoth that buys them votes untouched. Call me stupid for not seeing any real solution that won’t involved the rich getting encouraged to hide their money while the spending will continue everywhere but in defense. If you want a road map for how this plays out I give you California.

4 comments

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  1. Kimpost says:

    Krugababe thinks we should go back and enact some Carteresque tax rates, 91% to be exact on the greedy rich “peopolz”.

    Yes, that was exactly what he said there. :)

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  2. AlexInCT says:

    Yes, that was exactly what he said there. :)

    So he isn’t making the argument that higher taxes are justified, based on that 91% number, Kimpost? Let me quote the article:

    Yet in the 1950s incomes in the top bracket faced a marginal tax rate of 91, that’s right, 91 percent, while taxes on corporate profits were twice as large, relative to national income, as in recent years. The best estimates suggest that circa 1960 the top 0.01 percent of Americans paid an effective federal tax rate of more than 70 percent, twice what they pay today.

    Or is your point that he would be content with any rate that is a lot higher than the already high 35% top bracket we have right now, but less than 91%? As if that somehow would make any of it better or less stupid and not drag down the economy even more because we have a government that is hell bent on insane spending to buy votes instead of living within its means.

    Hey, I know getting shot with all 30 bullets in my AR’s magazine is gonna pulverize that poor deer, so let me just hit him with 15 of them! Stupid.

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  3. Kimpost says:

    I think that Krugman wants slightly higher taxes than today, but not too much higher, since that would be bad for the recovery. Because of the same reason he doesn’t want too much austerity either. In fact he wants more government spending. He’d pay for that with borrowed money.

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  4. AlexInCT says:

    I think that Krugman wants slightly higher taxes than today, but not too much higher, since that would be bad for the recovery.

    Define slightly higher and for what tax categories. And explain to me how the pittance those taxes will raise if they go back to lets say the pre Bush rates bandied about, coupled with the economic downturn these higher taxes are sure to cause, will result in any improvement of our fiscal problems. There is no way that tax increases produce anything but an economic downturn. And there is no recovery going on at the lowered taxes we have right now. We are seeing both wealth and our future destroyed daily.

    Again: if we taxed all rich people 100% today, we would have enough money to keep the current spending levels for about 15 months. What then? The tax increases on the rich are going to amount, if you are incredibly generous, to another $100 billion in revenue. We have 11 to 13 times, and more likely because of the lack of a budget to show us the real numbers something like 20 to 25 times that, being spent.

    Because of the same reason he doesn’t want too much austerity either. In fact he wants more government spending. He’d pay for that with borrowed money.

    Right, that’s not gonna cause any kind of problem either. The last trillion we had the democrats steer to their constituency and friends did such a great job. I get it! Krugababe believes it was just too small. So lets spend 10x as much. That should get the economy flying again.

    Keynesians are fucking idiots. You can’t tax & spend, borrow, and print yourself into prosperty. The bill comes due eventually. Ask California and Greece.

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