Posts Tagged ‘percent’

If Rich People Are Evil Like Obama Says, You’d Better Pray They Don’t Get Their Taxes Raised

April 26, 2011

Obama routinely demonizes rich.  He tells us they’re not good people, that they don’t care, that they don’t pay their fair share even though they pay MORE than their fair share when you consider the fact that nearly half of Americans pay no federal income tax at all.

There’s just one problem with Obama’s demagoguery.

If you think the rich are evil and greedy, then why do you not think that if they get their taxes raised, they won’t just pass those taxes onto you in the form of higher prices?

Here’s the thing about taxes on the rich: all the rich would have to pay them, and all the rich would have their taxes increased by the same percentage, and they would all have their taxes increased at the same time.

If you raise the taxes of the rich (who own and run all the businesses), you wouldn’t get everyone raising their prices right away, nor would they all raise their prices by the same amount.  But every single owner and chief executive is going to face the same increase of cost in doing business.  And over time – if there is anything in the universe called “equilibrium” – they will raise their prices for their products to compensate for that higher cost of doing business.

And given that the 2nd law of thermodynamics – which is ALL ABOUT a system’s tendency to reach equilibrium – is one of the best attested principles of science, I would argue that voting to raise taxes on the people who run the businesses is pretty much a 100% guarantee that you will be raising taxes on yourself via higher prices.

The only businesses that will suffer, and the only “rich people” who will lose their “riches,” will be the smaller small businesses who don’t have the resources to last through the transition period which will ultimately end with the customers paying the higher prices and thus the higher taxes.  Businesses will pass their higher taxes onto the consumers who buy their products.

Think of automotive tires.  Let’s say you increase the taxes of every single tire producer and dealer by 10%.  Do you seriously not think that, over time, you won’t end up paying the lion’s share of that 10% increase in higher prices for tires?  And it frankly doesn’t matter what product or service we’re talking about.  If you want the lowest prices, keep taxes down and the government off the backs of the producers, distributors and sellers, and allow them to have a fair fight with each other to compete for your business.

Think I’m wrong?  Keep reading.

There’s this other little fact that the leftist demagogues never bother to pay attention to: lower tax rates on the rich actually invariably result in the rich paying a higher percentage of all taxes paid:

In 1980, the top 1 percent of earners paid 19 percent of income taxes, and the bottom half of earners paid 7.1 percent. A decade later, with a lower maximum rate, the top 1 percent paid 25 percent of taxes, while the bottom earners paid just 5.8 percent. By 2008, top earners paid 38 percent of taxes, the bottom half 2.7 percent.

Put another way, when you examine the Treasury Department data in lieu of the Bush tax cuts:

The rich are now paying more than they would have paid, not less, after the Bush investment tax cuts. For example, the Treasury’s estimate was that the top 1 percent of earners would pay 31 percent of taxes if the Bush cuts did not go into effect; with the cuts, they actually paid 37 per­cent. Similarly, the share of the top 10 percent of earners was estimated at 63 percent without the cuts; they actually paid 68 percent.

Which is to say that if I really hated people who weren’t rich, I would show my hate by raising the tax rates of the rich.

It’s a Charlie Brown thing.  As long as that bald fool keeps thinking he’s going to kick the football with Lucy holding it, he’s going to keep ending up flat on his back in pain.

In a war, in a game of strategy, or in many sports, the very best and most ruthless way to win is to make your opponent think that if he does X he will gain an advantage.  But the moment he does X, you seize the advantage and destroy him.  And as long as the poorer classes keep falling for this Marxist demagogic class warfare trick, they’re going to keep screwing themselves.

There are a number of reasons for why keeping low tax rates for the rich results in their paying a higher percentage of taxes paid.  Most basically, if you allow the rich to keep more of their profits, they will invest more and take more risks.  And the result is more opportunity and more jobs for all.  If you demagogue the rich and try to seize more of their profits, they will shelter their money and act in ways that hurt the overall economy and most definitely hurt the poor.

That is the short of a much longer article I wrote entitled, “Tax Cuts Increase Revenues; They Have ALWAYS Increased Revenues.”  And there’s only about a hundred years worth of data (which you will see in the article) that proves the basic statement of that article is true.

So, if you allow Barack Obama to be your Lucy and trick you into trying to kick the rich, all you’re going to end up doing is hurting yourself and hurting the economy.  You’re going to end up flat on your back just like Charlie Brown, and Obama as Lucy will keep playing the same trick on you over and over again.

Americans More Pessimistic About US Outlook Than At Any Time Since Start Of Obama’s Failed Presidency

April 22, 2011

As much as the mainstream media propaganda tries to pretend otherwise by restating Obama’s talking points as if they were facts, things are NOT going well for the U.S. economy.

And the American people know it:

Americans hold dim view of U.S. economic outlook: poll
Thu Apr 21, 10:54 pm ET

WASHINGTON (Reuters) – Americans are more pessimistic about the U.S. economic outlook than they have been since the start of the Obama administration and most believe the United States is on the wrong track, according to a New York Times/CBS News poll released on Thursday.

The number of Americans who think the economy is getting worse jumped 13 percentage points in just one month, to 39 percent, the poll suggested.

Just 23 percent said they thought the economy was improving, down 3 percentage points from the previous month.

Seventy percent of respondents said the country was heading in the wrong direction and most think neither President Barack Obama nor Congressional Republicans share their priorities for the country, the poll showed.

The dour mood is dragging down performance ratings for President Barack Obama and both parties in Congress with the 2012 election season already underway, the poll found.

Fifty-seven percent of respondents said they disapprove of Obama’s handling of the economy, while 75 percent said they disapprove of the way Congress is handling its job.

While Washington is consumed with debate over deficit-reduction proposals, Americans seemed uncertain about the impact of cutting the deficit on the U.S. economy.

Some 29 percent of those polled said cutting the deficit would create more jobs, while 29 percent said deficit-cutting would cost jobs and 27 percent said it would have no effect on the employment outlook.

The poll found considerable support for Obama’s proposal to raise taxes on the wealthy — 72 percent of respondents approved of that idea as a way to address the deficit.

Obama’s job approval stood at 46 percent, while 45 percent did not approve of his performance in office.

More than half of poll respondents, 56 percent, said they did not have a favorable view of Republicans in Congress, as opposed to 37 percent who said they did.

The Democratic Party fared somewhat better, with a 49 percent approval rating versus 44 percent disapproval.

The telephone survey of 1,224 adults was conducted Friday through Wednesday and had a margin of sampling error of plus or minus three percentage points.

According to Standard & Poor’s, “we believe the risks from the U.S. financial sector are higher than we considered them to be before 2008.”  Which is to say that all of Obama’s financial fascism has made the American economy more vulnerable to total collapse than it has ever been.

If you saw an Obama election victory after the Republican and Democrat Party national conventions in August of 2008 and abandoned the stock market in favor of gold and silver, you would be closing in on about a 90% profit on the gold, which would pale in comparison to the more than 250% profit you would have made in silver. 

I’ve watched the market go up and down, but the numbers reveal it has clearly generally gone up.  But I’ve also noticed that most of the trades are held for a matter of minutes or even seconds and that the low volume that has characterized the market pretty much mean it’s only major-league institutional investors that are making the lion’s share of the profits.

In the market itself, two things are happening: one is that banks are able to borrow money at nearly a zero percent interest rate and then reinvest it in bonds for a safe and easy profit without those risky and pesky loans to small businesses.  The other thing is that there are virtually zero bankrupties of major business and financial sector entities because they can borrow money at the aforementioned artificially low interest to keep themselves alive no matter “artificial” that life is.  The moment we start to see interest rates go to their natural levels, you are going to see a giant swath of reorganizations (which is a fancy word for bankruptices).  It’s coming.

I’ve also watched as QE2 (that’s Quantitative Easing, the Obama Fed plan to manipulate interest rates by creating bogus money based on the government essentially borrowing from itself) has fed this big player stock market gluttony with artificial money creating artificially low interest rates.  The last time quantitative easing ended, the market lost about 16% of its total value in about two weeks.  QE2 is scheduled to end in June.  You do the predictive math about what’s going to happen in June/July.

I am reminded of a rather chilling 7 minute video about a fictional scenario which is starting to look more and more like a prophecy:

The plot of the highly realistic video is that Obama’s announcment of QE4 is met with the world market finally realizing that Obama is a clueless idiot.  And it proceeds to detail the unravelling of the entire financial system.

We are almost certainly going to see QE3.  The only way we WON’T see QE3 is if the “experts” rename what will be virtually exactly the same thing.  The liberal/progressive/socialist powers that be simply don’t have any other plan.  And whether it’s QE4 or QE5, at some point the world markets will come to the same conclusion that they arrive at in the fictional video above.

Last year, Democrat Congressman Anthony Weiner actually used the power of the government to launch an investigation into Glenn Beck for pushing gold.  Media Matters mocked Glenn Beck, as usual.  A poster calling himself blk-in-alabam wrote on May 19 (8:08 pm ET):

“Beck cult members probably bought more gold today.  He tells they must taste the hair of the dog that bit them to get over the money they have already spent on gold.  Glen Beck tells them to hurry and buy gold before the facist socialist government take away their right to be used and suckered.”

If you were one of the Beck cult members who bought gold, congratulations: you made ($1,503 – $1,192) $311 an ounce – a 26% profit – without even leaving your house.  Not a bad profit for a paranoid cultist.  I wonder how much blk-in-alabam made on his portfolio, assuming he isn’t living in the basement of his mom’s house and “investing” all of his allowance on video games???

Here’s my question: has there been an investigation of Anthony Weiner for demonizing gold???

The American people are totally confused and divided, which is exactly what you would expect from “No, no, no.  Not God bless America.  God DAMN America!”  The other thing you’d expect from God damn America is that wicked and foolish people will continue to make poor choices and poor decisions.

Mystefied Democrats See Tide Going Out Rapidly, With Huge Wave Appearing Over The Horizon

August 25, 2010

There’s an article on how to spot the warning signs of a tsunami.  Point #3 says:

Watch. If there is a noticeable and rapid fall in the water and it’s not time for low tide, head inland immediately. Think of how waves work: water first pulls back, then returns with force. An excessive or unusual retreat of water in the ocean is the biggest indication of a tsunami. Many people died in the Indian Ocean tsunami because they went to observe the bare sea floor after the ocean retreated.

That’s your Democrat Party for you.  They’re looking at the bare sea floor after the ocean retreated, too short-sighted to see the huge building wave in the horizon, too uncomprehendingly stupid to change and move to safer places.

So they keep spending more, and more, and more, and demonizing Republicans because they aren’t willing to recklessly spend.  And they demagogue on issues like the Arizona law and the Ground Zero mosque, attacking Republicans who have staked their ground on positions that the American people overwhelmingly agree with them on.  And of course there’s ObamaCare, which was hugely unpopular from the start to the finish, and yet Democrats used every godawful and corrupt means imaginable to ram down our national throats.

Ignorance is bliss, until that giant wave hits you like a billion freight trains.

Scared Monkeys ran this block quote from an article in the New York Times, mocking the liberal paper for finally figuring out that Democrat control of Congress was genuinely at risk:

Representative David R. Obey has won 21 straight races, easily prevailing through wars and economic crises that have spanned presidencies from Nixon’s to Obama’s. Yet the discontent with Washington surging through politics is now threatening not only his seat but also Democratic control of Congress.

Mr. Obey is one of nearly a dozen well-established House Democrats who are bracing for something they rarely face: serious competition. Their predicament is the latest sign of distress for their party and underlines why Republicans are confident of making big gains in November and perhaps even winning back the House.

The fight for the midterm elections is not confined to traditional battlegrounds, where Republicans and Democrats often swap seats every few cycles. In the Senate, Democrats are struggling to hold on to, among others, seats once held by President Obama and Vice President Joseph R. Biden Jr. Democrats are preparing to lose as many as 30 House seats — including a wave of first-term members — and Republicans have expanded their sights to places where political challenges seldom develop.

But more and more political pollsters are seeing not 30 Democrat seats going Republican, but double and even triple that number:

A 1994-style scenario is probably the most likely outcome at this point. Moreover, it is well within the realm of possibility – not merely a far-fetched scenario – that Democratic losses could climb into the 80 or 90-seat range. The Democrats are sailing into a perfect storm of factors influencing a midterm election, and if the situation declines for them in the ensuing months, I wouldn’t be shocked to see Democratic losses eclipse 100 seats

Here’s a link to that entire Real Politics article by Sean Trende.

And with the latest news of a 27% plunge in existing home sales – the worst decline since the LAST TIME a Democrat was president – it seems that the “situation” has declined for them in these ensuing months.

This news is a stunning economic indicator, because mortgage rates are at an all-time low, and low-priced home bargains abound, and people STILL aren’t buying.

From USA Today:

Economic forecasts were plenty pessimistic ahead of Tuesday’s report by the National Association of Realtors because of other data pointing to weakening sales since the federal tax credit ended in April.

The actual numbers were far worse — sales fell more than 27% from June and 25% from a year ago to an annual rate of 3.83 million units.

It is not clear if the housing market hit a huge air pocket or crashed and burned, but for now, this sector looks to be flat on its back,” says Joel Naroff of Naroff Economic Advisors.

The stunning drop-off when mortgage rates are at historic lows indicates many potential buyers have lost confidence, Naroff says. “If no one is confident, I don’t know that the interest rates matter, no one is going to want to borrow,” he says.

Economists say Tuesday’s report also indicates that the housing recovery has faltered.

This qualifies as a double dip in housing,” says Mark Zandi, chief economist of Moody’s Analytics, adding buyer confidence has also been shaken by a weakening stock market and a lack of jobs. “These are pretty ugly numbers.”

No region of the country was spared: Existing-home sales fell 35% in the Midwest, 30% in the Northeast, 25% in the West and 23% in the South.

In addition to the one trillionth usage of the mainstream media’s favorite adverb – “unexpected” – being employed, I’m seeing a far more frightening adverb: “double dip.”

As in “double-dip recession.”  As in, how is Obama going to blame Bush for a second recession that occurred entirely while “the One” was president?  Remember Obama’s economic team telling us the recession was over? Remember Obama and Biden boasting of their “Recovery Summer”?

If Bush’s recession is over, but we’re going into a recession, then just who the hell owns this recession?

Blame Obama.

Reuters has the following:

(Reuters) – More Americans now disapprove of President Barack Obama than approve of him as high unemployment and government spending scare voters ahead of November’s congressional elections, a Reuters/Ipsos poll showed on Tuesday.

In the latest grim news for Obama’s Democrats, 72 percent of people said they were very worried about joblessness and 67 percent were very concerned about government spending.

The unemployment rate of 9.5 percent and the huge budget deficit are dragging down the Democrats and eating away at Obama’s popularity only 20 months after he took office on a wave of hope that he could turn around the economy.

Another bit of bad economic data arrived on Tuesday when the National Association of Realtors reported sales of existing homes plummeted in July to their slowest pace in 15 years.

Piling the pressure on Obama, the top Republican in the House of Representatives called on the administration’s economic team to quit.

Obama’s disapproval rating was 52 percent in Tuesday’s poll, overtaking his approval rating for the first time in an Ipsos poll. Only 45 percent of people said they approved of the president’s performance, down from 48 percent last month.

That number, coupled with a hearty 62 percent who think the country is going in the wrong direction, could spell trouble for Democrats, who control both chambers of Congress and the White House.

Let me paraphrase that last paragraph:

That tsunami, couple with a giant tidal surge that is pushing everything in the country backwards in the wrong direction, could spell trouble for residents around the Indian Ocean, who live in regions that are now fifty feet underwater.

Obama is reading some finely-honed demagoguery off his teleprompters, talking about Republicans having led us in the wrong direction, and cars, and ditches, and not giving Republicans the car keys.  But now more Americans by a wide margin think Obama sucks even according to the left-leaning Ipsos polling organization.  And 62% of Americans think the “wrong direction” is the one Obama is leading them in.

Mind you, reality won’t stop Joe Biden from guaranteeing that the Democrats will retain control of the House.

On my view, Republicans easily take the House in an eye-popping takeover, and yes, either retake the Senate, too, or fall just short.  Everything will have to go right for Republicans and wrong for Democrats in order for Republicans to win the ten seats they need, but let’s not forget that Democrats are in full meltdown mode.

Which is why on November 2 I’ll be watching the election with the Beach Boys’ “Catch a Wave” playing over and over in the background.

Failure-in-Chief Obama Plunges To All-Time Low According To NBC/WSJ Poll

June 25, 2010

Maybe Americans don’t like hopey changey so much after all.

Have you ever had somebody say you can hope into one hand, and defecate into the other hand, and then see which hand gets full first?  Well, we took the “hopey-crappy challenge,” and now we’ve got a giant load of crap sitting in our White House, taking the place of an actual president who can truly lead and effectively govern, ought to be.

New poll shows Obama approval at all-time low
Thu Jun 24, 2:28 pm ET

The White House has been fond of citing turning points lately, most recently when describing the administration’s handling of the Gulf of Mexico oil spill. Now President Obama faces a turning point of his own — and not for the better.

A new NBC/Wall Street Journal poll finds Obama’s approval rating to be the lowest it’s been since he took office 18 months ago. According to the poll, only 45 percent approve of the job Obama is doing in the White House, compared with 48 percent who disapprove. And the numbers only get worse from there: Sixty-two percent of respondents believe the country is on the wrong track — the highest number recorded since just before Election Day in 2008 — and just one-third believe things are going to get better, a 7-point drop since a month ago and the lowest such number in the Obama presidency.

The fallout from the Gulf of Mexico oil spill appears to be the biggest drag on Obama’s numbers. Fifty percent disapprove of his handling of the crisis — including one in four Democrats.  But generally, the poll finds increasing doubts about Obama as a leader. Just 49 percent of those polled give Obama positive ratings when asked if he has “strong leadership qualities” — that’s a decline of 8 points since January and nearly 20 points from when he first took office. Less than half rate him positively when asked if he’s “honest and straightforward.” In January ’09, 63 percent gave him positive marks for “being firm and decisive in decision-making.” That number is now at 44 percent. Asked about his “ability to handle a crisis,” only 40 percent rate him positively, an 11-point drop since January. You can read the full poll results here.

Obama’s biggest problem: He’s lost the middle — the so-called independent and moderate voters who are generally given the most credit for his win back in 2008. According to the poll, 52 percent of self-described independent voters disapprove of the job Obama is doing. He’s even losing parts of his base. The poll finds Obama with 17 percent disapproval among Democrats — the highest number of his presidency.

None of this is good news for Democrats up for re-election this fall. Beleaguered Democrats had been counting on Obama’s coattails to help them, as polls have also showed a historic trend away from the Democratic Party. According to this new poll, the GOP has a 2-point edge over Democrats in the generic congressional ballot — but among voters who describe themselves as most interested in the 2010 midterms, the GOP jumps to a 21-point lead over Democrats.

— Holly Bailey is a senior politics writer for Yahoo! News.

Did you catch that red emboldened part about the Republicans currently having a 21-point lead over Democrats when you count the people who are actually going to vote?

Democrats had a 60 vote supermajority in the United States Senate.  They could pass ANYTHING.  And they used their power to pass shockingly terrible legislation that will haunt Americans for decades to come.  The American people corrected that disastrous mistake the first chance they had, but Democrats STILL have an overwhelming majority of 59 votes.  And they have a gigantic majority in the House of Representatives.  And yet they are such disastrous failures, and are in such total and complete disarray, that they can’t even pass a budget.  Which allows Democrats to continue their insane, destructive spending divorced from any checks or balances until the people finally get to hold them accountable in November.

Democrats have blamed Bush every step of the way.  They have acted like a child who comes to school every single day for a year and a half and tells the teacher that the dog ate his homework.

Well, eventually such bratty, irresponsible kids flunk out.