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Archive for the ‘Taxes’ Category

Money quote:

There is a lot of stimulus and growth in this bill – that is, of government. Nothing in this bill stimulates the freedom and prosperity of the American people. Politician-directed spending is never as successful as market-driven investment. Instead of passing this bill, Congress should get out of the way by cutting taxes, cutting spending, and reining in the reckless monetary policy of the Federal Reserve.

Read it all here. I disregarded Ron Paul during his 2008 presidential bid, because for the first time in decades a libertarian had a microphone … and the American people were listening. Yet he squandered his time (“squandered,” or so I thought) talking about closing down the Federal Reserve. Closing down the Department of Education. Closing down the Department of Energy. If anyone does, a then 10-term Republican representative knows the value of principled baby steps.

But as it turns out, the Federal Reserve has arranged for our worst recession in decades.  Inverted interest rates have led us from one asset bubble to the next for nine years now.  No Child Left Behind is its own punch line.  Oh, and, by the way?  How is that Department of Energy treating you now?  Revolutionary monetary policy, far-reaching shift in government operations are starting to smell pretty good right now.

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I’ll say this once.  Hopefully. Building a sports stadium with tax dollars is not an effective or acceptable economic stimulus package.

Taxation takes money out of the private sector and transfers it to the public sector.  Re-transferring that same sum back to the private sector is not “economic stimulus,” it’s simply restoring the original balance sheets.  Owners of football teams cannot spend (or save) your money any more wisely than you can. 

(I’ll save a discussion of bogus eminent domain claims until this stadium is actually built, which in time it certainly will be.)

Relevance statement: 2012 possible Tim Pawlenty, governor of Minnesota, opposes the idea.  Good man.

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As this Newsweek piece reminds us, there are still 21 of them. I’m really not in the mood to talk about Bobby Jindal right now, since for the first time in my life a key figure in the Republican Party is younger than me, and I’m still stinging from the blow. (They don’t call in the Grand Old Party for nothing.)

It’s worth a read. The party has a great deal to figure out, in terms of policy and, as Mike Huckabee reminds us, process.

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Interesting.

In response to the huge federal outlays buying us ever-worsening economic reports:

US Representative Louie Gohmert has a better idea. The third-term Texas Republican proposes to strip Treasury Secretary Henry Paulson of his authority to spend the $350 billion remaining in the $700 billion bailout fund Congress created in October. Instead of being doled out to well-connected banks and Wall Street investment firms, the money would be used to finance a two-month federal tax holiday for every American taxpayer.

[…]

“Imagine,” says former House speaker Newt Gingrich, who backs the Gohmert proposal, “how many people could pay down some of their debt, how many will be able to rebuild some of their retirement funds, how many . . . might start a new business or expand their existing business.”

Read the rest here. In spite of his colorful history, Gingrich is a far-from-impossible 2012 contender. As for the present correspondent? Tax holidays are gimmicky. Why not draw up a tax cut, if our nation’s tax burden is so unweildy?

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