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Last week’s fiscal cliff deal brought reality crashing down on some unsuspecting people’s heads, according to this delightful, tongue-in-cheek column by Joseph Curl.
Using quotes from a comment thread on DemocratUnderground, Curl’s article shows how uninformed some Democrats were about President Obama’s tax increase. This is a perfect illustration of how uninformed they were:
Some in the thread argued that the new tax, or the end of the “holiday,” which makes it a new tax, wouldn’t really amount to much. One calculated it would cost about $86 a month for most people. “Honeycombe8,” though, said that amount is nothing to sneeze at.
“$86 a month is a lot. That would pay for … Groceries for a week, as someone said. More than what I pay for parking every month, after my employer’s contribution to that. A new computer after a year. A new quality pair of shoes … every month. Months of my copay for my hormones. A new thick coat (on sale or at discount place). It would pay for what I spend on my dogs every month … food, vitamins, treats.”
I’d like to welcome these fools to the Democrats’ middle class squeeze tax increases. This tax increase isn’t likely to change Honeycombe8′s voting habits. I’d be stunned if it did. Still, the Democrats, starting with President Obama and including Sen. Reid and Nancy Pelosi, can’t fight their tax increase fever. With that trio of ideologues, it’s always about ideology, It isn’t about what’s best for America.
Here’s another dose of reality for the left:
The Twittersphere was even funnier.
“Really, how am I ever supposed to pay off my student loans if my already small paycheck keeps getting smaller? Help a sister out, Obama,” wrote “Meet Virginia.” “Nancy Thongkham” was much more furious. “F***ing Obama! F*** you! This taking out more taxes s*** better f***ing help me out!! Very upset to see my paycheck less today!”
Though the Democrats’ anger is sky-high, that hasn’t led to clear thinking:
Of course, dozens of posters on DemocraticUnderground sought to blame it all (as usual) on President George W. Bush. “Your taxes went up because the leaders need to dig us out of this criminal deficit hole we are in which has been caused because taxes were too low during the Bush years. Everyone has to help by spreading the wealth around a little. Power to the correct people!” posted “Orinoco.”
This is typical Democratic stupidity. Spending has skyrocketed during the Obama administration. Economic growth has lagged, thanks directly to President Obama’s policies. Revenues have dropped because he’s attacked industry after industry.
Let’s repeat this fact: these deficits are the direct result of President Obama’s policies. The ACA is killing jobs by giving small businesses who employ fewer than 50 people an incentive to not hire additional workers. The EPA is killing jobs, too. Last year’s regulations have led to 98 coal-fired power plants to either close their doors or to announce their shutting.
There’s just one thing to say to people who were foolish enough to vote for President who now are upset that he’s raised their taxes: You bought it. Now you’re paying for it. You’re getting what you deserve.
Mitch Berg’s attempt to educate Dave Mindeman about economics is a hopeless situation, though it is fun watching. Mitch tried explaining that Mindeman’s “Blizzard of facts” didn’t put things in context. Here’s part of Mr. Mindeman’s argument that the economy does better under Democrats’ leadership than under the GOP:
And just in case Mr. Berg wants to highlight Obama’s tenure….
A. Corporate profits have surged an average of 51.8% under Obama, the best out of any stretch of party control since 1933, S&P said.
Mitch was right in highlighting this:
Except it’s not because business is banging along on eight cylinders. It’s because businesses are sitting on their cash. They’re laying off workers and outsourcing jobs. They are not investing in new plants, new products and new hires.
Mitch’s observation is important because it highlights the fact that businesses aren’t expanding because President Obama’s regulatory policies (Dodd-Frank, the PPACA) discourage long-term economic growth. Rather than admitting that Mitch has a legitimate point, Mr. Mindeman threw this hissy fit:
So these are the “job creators”? They would rather sit on their wealth and tank the economy than move the country forward?
Glad the Republicans take advice from these characters.
The insinuation is that business is waiting for a better “business climate”. And what is that exactly? Is there a need for more workers? Unemployment says no. Better tax rates? If they have all this cash, why would they need tax cuts?
That’s proof that Mr. Mindeman isn’t an expert in connecting economic dots. That’s why I’m putting this post together. In the spirit of bipartisanship, I’ll answer Mindeman’s questions:
The insinuation is that business is waiting for a better “business climate”. And what is that exactly?
The best explanation I have for what constitutes a pro-growth business climate is a period in time when entrepreneurs know that regulations will be relatively stable, that labor costs will be reasonable and the opportunity to make profits is good. Right now, entrepreneurs know that President Obama’s administration is a regulation-making nightmare.
Entrepreneurs have said forthrightly that they don’t know if they’ll be complying with regulations today but might be out of compliance a week from now. Why would a business hire additional people if he isn’t certain about what regulations he has to comply with?
Better tax rates? If they have all this cash, why would they need tax cuts?
Nobody’s talking about tax cuts at this point. What’s been proposed is eliminating corporate welfare, broadening the tax base in exchange for lower rates and tax simplification.
So these are the “job creators”? They would rather sit on their wealth and tank the economy than move the country forward?
First, entrepreneurs can’t wait to create jobs and wealth. With this administration’s strangling load of new regulations and the threat of massive tax increases in the immediate future, these entrepreneurs would be foolish to put their capital at risk.
Second, this administration’s treatment of capitalists like villains isn’t conducive to job, wealth and prosperity creation. Telling businesses to put their money at risk so the government can confiscate it through outrageous tax rates is the best way to guarantee miniscule job growth, which is what we have.
But let’s look at Berg’s “bonus” questions…..
Why is Paul Krugman’s wet-dream state California floating toward the surface, its belly slowly rotating toward the sky, with a private sector that is leaving the state as fast as moving trucks can be secured?
California was the victim of the Republican “wet dream”, Proposition 13….which has shackled California legislation for decades. And the idea that super majorities are required to pass tax legislation (another GOP “wet dream”.) Now that California has formed Democratic super majorities, we shall see how the state can work.
This fight’s outcome has been determined. California will be a mess for the forseeable future. Prop 13 wasn’t the problem. After Prop 13 passed, economic growth in California continued.
What’s crippling California is their pension system and their cultish adherance to insane environmental policies. Environmental policies have crippled the agriculture economof California’s Central Valley. A different part of California’s environmental policies are preventing the state from tapping into vast energy resources lying just beneath the surface.
Rather than investing in job-creating fossil fuel project that would create wealth and prosperity, California took the opposite approach. They’re investing heavily in failed green energy economies. The only jobs the green industry has created are being filled with bankruptcy lawyers.
No amount of tax increases will fix California’s economy if they continue to ‘invest in’ failing green energy projects while not tapping into fossil fuel reserves. No amount of Mindeman’s arguments will put that in better context.
It was 8 years ago today that I started blogging. Rathergate caught my attention but it was the freedom movement that inspired me. The first big subject that I wrote about was the Orange Revolution in the Ukraine. That’s how I first learned of a certain economics professor at St. Cloud State. I’ve been privileged to call King Banaian my friend since then.
I wrote about the massive protests that gathered in Independance Square, the Purple Thumb elections in Iraq, followed by Hezbollah’s assassination of Rafiq Harriri in Lebanon. Harriri’s assassination triggered the Cedar Revolution.
It’s been fun writing about the TEA Party movement. I’ve even helped put a couple of them together with the help of Leo Pusateri, another important conservative ally in the fight against progressives. As helpful as Leo has been in the fight for conservative principles, I appreciate his friendship the most.
I’ve learned from some outstanding bloggers along the way. Captain Ed’s (that’s what he was called in his pre-HotAir days) posts from CQ were awesome reads. When Ed published his lengthy posts, the thing that stood out for me was the depth and detail of his research.
Mitch Berg’s literary skills still continue to amaze me. Mitch isn’t just a talented writer, either. He’s a topnotch reporter, too.
Early in my blogging career, I learned about the Minnesota Organization of Bloggers. Today, many MOBsters are friends of mine. If you aren’t a MOBster, you should join ASAP. The comradery is great.
Finally, I’d like to thank the people who faithfully read my blog. Over the years, I’ve been amazed at who reads my blog. Sitemeter statistics have shown lots of state legislators read LFR. That’s why I’m proud to say LFR has had a serious impact on the policy debates in St. Paul.
With the DFL now in control, temporarily, of the Legislature and with a DFL governor, I pledge to step up my reporting.
This past week, it’s been almost impossible to access my Sitemeter statistics on how many people have visited LFR. At first, I thought it might be something on my end. After clicking on a number of other websites’ Sitemeter icons, all of which I’ve been able to view before, it’s apparent that Sitemeter is the problem.
If anyone knows why Sitemeter’s having these extensive difficulties, please post a comment with what’s happening.
If Sitemeter fixes their issues, I’ll be a happy camper. It they can’t fix their issues, then it’s time for the marketplace to work. It’s time for someone to build a better website visit tracker.
This is just a heads-up that I’ll be liveblogging tonight’s final presidential debate. I’ll also be periodically posting thoughts on Twitter.
7:10 PM CT — Before tonight’s debate, it’s probably wise to comment on what President Obama & Gov. Romney need to talk about. While the subject is the same for both, each man’s goals are distinctly different. President Obama needs a great night. He needs to stop Mitt Romney’s momentum. If he doesn’t stop Mitt Romney’s momentum, the topics of tonight’s debate are irrelevant.
Mitt Romney simply needs to show he’s capable of handling the responsibilities of Commander-in-Chief.
7:30 — Gen. Wesley Clark was just on O’Reilly. First, he tried filibustering. Next, he tried rewriting history about the Democrats not attempting to take partisan advantage over 9/11. Finally, he didn’t answer O’Reilly when O’Reilly asked him about why the American people can’t get a straight answer from this administration on Benghazi. Question: Will President Obama follow the same strategy tonight? If that’s what President Obama attempts to do, this election will quickly slide away from him.
8:02 — President Obama & Gov. Romney are introduced.
8:03 — First question is on Libya. Gov. Romney up first.
8:04 — Congratulates Obama on killing bin Laden, then talks about comprehensive strategy on terrorism.
8:07 — Obama: al-Qa’ida’s core has been decimated. Then he says Romney’s foreign policy “has been all over the place.”
8:12 — Romney: Mr. President, attacking me isn’t an agenda. Then he says he “certainly won’t say that I’ll have more flexibility after the election.”
8:16 — Did I hear right? Did Obama say that Libya stands with us?
8:23 — Obama: I think it’s important that America stands with democracy.
8:25 — Romney: I wish we would’ve done more to promote principles of freedom.
8:30 — Romney: It was an enormous mistake when President Obama didn’t stand with the Green Revolution.
8:31 — Obama: We have unprecedented relationship with Israel as a result of Obama’s leadership. Now he’s talking about cutting spending. Seriously? Now he’s playing the blame Bush card.
8:33 — Romney: we need to focus on trade. Good topic for Romney, bad for Obama.
8:36 — Obama: Going on & on & on about education & raising taxes.
8:37 — Romney: I’ve put in place education policies that work. Great shot.
8:42 — Obama: This isn’t a game of Battleship.
8:45 — Obama: If Israel is attacked, we will stand with Israel. Why not prevent attacks?
8:50 — Romney: Ships that carry Iranian oil can’t come into our ports.
8:55 — Romney: talks about apology tour. Then talks about how President Obama skipped stopping in Israel when on his apology tour.
9:00 — Romney: Russia said that they’re “no longer going to abide by Nunn-Lugar.” Great shot on President Obama.
9:01 — Obama’s back to Romney being erratic.
9:13 — Obama talking about always standing on the side of democracy. Tell that to the families of the Iranian protesters who died while rioting.
9:23 — Romney to Obama when Obama interrupts: Saying that I want to decimate Detroit is the height of silliness.
9:25 — Obama now equating tax simplification with tax breaks for the rich. That’s scary.
It isn’t surprising that the DFL is resorting to the nastiest negative campaigning in recent history. In fact, it’s utterly predictable. This post offers an example of what the DFL is willing to say about Republican candidates:
Banaian is an economics prof. at SCSU, noted for Milton Friedman market fundamentalist rants on the radio and as a blogger. In other words, he’s an ultra-pretentious intellectual featherweight.
First, it’s indicative of the writer’s vitriol when they start with the name-calling that’s in this post. Second, it’s apparent that the writer isn’t a capitalist. It’s one thing to argue with parts of Milton Friedman’s economic philosophy. It’s another to talke about Friedman with this level of disdain.
That isn’t what capitalists do. It’s what collectivists do.
Third, it’s difficult, if not impossible, to take people seriously when they question King’s intellectual heft. That comes across as childish behavior. It doesn’t leave a positive first impression of the writer.
Most importantly, since arriving in St. Paul, King’s focused on solving Minnesota’s biggest problems, starting with budget reform. His first legislation, HF2, created the Sunset Advisory Commission. That was signed into law as part of the final budget agreement. He even got Phyllis Kahn and several other prominent Democrats to vote for the bill. That’s substantial proof that King is capable of working across the aisle without compromising his free market principles.
I wrote here that King authored legislation that Gov. Dayton signed into law that will reduce the cost of textbooks for MNSCU students.
In his brief time in the legislature, King has built an impressive record of writing legislation that produced solutions that made life better for college students and taxpayers.
That isn’t what “ultra-pretentious intellectual featherweights” do. It’s what men of gravitas do.
7:45 — I’m watching the livestream from Heritage’s website while liveblogging tonight’s debate. When I can, I’ll post tweets to the #Debate2012 hashtag.
7:57 — Three minutes until debate start. NRO is reporting that Team Obama is already trying to win the post-debate spin.
8:01 — Jeremy asks about finding employment after graduating.
8:02 — Mitt Romney starts by explaining his position on education. Talks about getting the economy going, “not like the last 4 years.”
8:07 — President Obama “Jeremy, your future is bright.” Seriously? Then talks about “betting on America” while highlighting Mitt’s position on Detroit.
8:10 — Mitt says that he talked about taking Detroit through bankruptcy. President Obama actually took Detroit through bankruptcy.
8:13 — Obama asked about energy policy. Says that energy production is increasing under his administration. Talks about winning the future. Thus far, Factcheck will be working OT on Obama’s answers.
7:50 CT — Welcome to LFR’s VP debate liveblog.
8:00 — Ed Rollins “Paul Ryan will get the job done.” I agree.
8:02 — Martha Raddatz introducing the debate. Nine segments, alternating between foreign, domestic policy.
8:03 — Starting with Libya, Biden promises “We’ll get to the bottom of this.” Now Biden is talking about President Obama’s foreign policy accomplishments. “President Obama
8:06 — Ryan: “First they blame the Youtube video for the attack, now they’re blaming the Romney-Ryan ticket for the terrorist attack.”
8:08 Ryan: We shouldn’t have called Bashar Assad a reformer when he’s aligning with the Russians.
8:15 — Biden: These are the most crippling sanctions in history.
8:22 — Biden is being unbearably smug. I hope it’s coming across that way at home.
8:29 — Ryan: I think Vice President Biden knows what it’s like for the words to not come out right.
8:38 — First Biden gaffe: I heard that death panel stuff from Sarah Palin. It seems like every vice presidential debate, I hear this stuff.
8:40 — Ryan is now asserting himself. He’s pouring it on about Medicare, citing Ron Wyden, Alice Rivlin & Sen. John Breaux as proponents for premium support for Medicare.
8:58 — I thought I’d give Martha Raddatz a fair shot. The only time she interrupts, she interrupts Ryan right before he finishes his point.
9:00 — BIDEN’S SECOND GAFFE: We went there for one reason, to get that killed Americans.
9:25 — Best tweet of the night from Jonah Goldberg: Biden: We don’t have litmus tests, but I guarantee we’ll appoint pro-choice justices.
7:00 CT — Starting in about an hour, I’ll be liveblogging tonight’s debate. I’m sure I’ll be the only person liveblogging/tweeting. LOL
7:05 — I’ll be following the Heritage Foundation’s live feed but I’m also DVR’ing the debate. I’m LFRGary on Twitter for those who will be following the debate that way. At the end of each segment, I’ll probably post something to Twitter using the #Debate2012 hashtag.
7:25 — The key to Mitt doing well tonight, I think, will be whether he starts with a criticism of Obama’s economy, then finishes with his solution. If he does that, he’ll win the debate. Whether that happens is the question.
7:40 — T-20 minutes and counting. Will Mitt come out unflappable? Will President Obama. Only 20 minutes until we find out.
7:45 — This isn’t liveblogging stuff but it’s good information going forward:
A Non-Recovery Recovery
The August report shows that the labor market is continuing its non-recovery. Average job growth for 2012 is worse than average job growth in 2011. Fiscal policies from Washington have made the situation worse. While President Obama has promised to reduce regulations, which would help job creation, his largest initiative, Obamacare, will harm employment. The Obamacare tax hikes coincide with the expiration of the 2001 and 2003 tax cuts in January 2013.
7:55 — Jim Lehrer just finished giving instructions. Crowd applauds the finish of the instructions.
8:00 — The debate starts in 2 minutes. GRRRR. I hate when politicians are late.
8:04 — 3 segments on the economy, 1 each on health care, role of gov’t & differences.
8:06 — Obama Gov. Romney wants to get the economy going by giving tax cuts for the rich.
8:08 — Romney outlines his 5 points. The President has a view that’s similar to 4 years ago.
8:10 — Obama talking about hiring 100,000 new teachers. Subconciously cedes fact that his approach now is the same as 4 years ago. Now talking about $5,000,000,000,000 tax cuts plus spending.
8:12 — Romney on the offensive. Incomes are down by $4,300 per year. Gas has doubled since Obama was inaugurated. Mitt: Energy production is up but not due to President Obama’s policies. BTW, I like coal.
8:15 — President Obama regurgitating the $5,000,000,000,000 in tax cuts & $2,000,000,000,000 military spending line.
8:18 — Romney: Virtually everything he said about my tax plan is inaccurate. Romnney is really on fire.
8:22 — Romney: Takes Obama to task about the $5,000,000,000,000 tax cut. Says that his plan isn’t like anything like other plans tried before.
8:28 — Romney: I will grow economy while cutting spending. Includes cutting PBS, repealing Obamacare.
8:30 — Obama is talking about Bowles-Simpson like it’s his plan. Talk about chutzpah.
8:34 — Romney: I believe in raising revenues not taxes.
8:35 — Obama is clearly on defensive. Talking balanced approach = tax increases.
NOTE: Mitt nailed President Obama with his statement that President Obama complains about “$2.8 Trillion in tax breaks for Exxon” but giving “about 50 years worth of tax breaks to Solyndra.”
8:52 — Mitt on regulations: As a businessman, I needed to know the regulations. Dodd-Frank “designates 5 banks as too big to fail” as permanent. Too many community banks went bankrupt after Dodd-Frank.
9:00 — Obama: Gov. Romney did a good thing in Massachussetts.
9:03 — Mitt: In Massachussetts, we all came together. Mr. President, You didn’t bring people together. You pushed it through. When Scott Brown won, you still pushed it through without a single Republican vote.
9:07 — The folks at NRO are impressed with Mitt, unimpressed with President Obama. Says that President Obama is meandering, unfocused, Mitt is focused, with “no uhs, no ums.” I agree.
9:14 — Role of gov’t: President Obama – Cites Lincoln as creating transcontinental railroad.
9:17 — Romney: I believe that our Constitution means that we care for those who can’t provide for themselves but that we provide the opportunity for people to pursue their own dreams.
In the past month, LFR has led the way in highlighting the political changes on the Iron Range, exposing CREDO’s corruption and highlighting the left’s desire to shut down mining.
This morning, I’ve highlighted some voter registration fraud in Virginia and asked the question of whether Chip Cravaack’s seat is safe.
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