I’m not sure this is much different than using coffees in the White House, or renting out the Lincoln bedroom as a way of raising funds for a political campaign. But it’s a stretch to say what Pres. Obama is doing right now to raise money for the Democratic Party is the same as what George Bush did and Ronald Reagan did. Video to compare and contrast below the fold. Read more
Heard a portion of this on Rush yesterday. Saw a longer segment on Jim Hoft’s site. Then read the entire speech at American Rhetoric and now I pass it on to you. Ronald Reagan’s greatness shines brightly in this campaign speech given on Labor Day in 1980. He takes on Carter head on. Video below and a relevant portion of the transcript. Read more
Too much. As my son and I watched this last night we both had to chuckle. No, not that he still gets a thrill … but that he had to correct his guest. Ha. Read more
As I have said before and I will say again, this is the most critical election you will likely face in your lifetime. The ones who would rob you of your freedom, your liberty, all in the name of saving us from ourselves, always, and I mean always tell you who they are and what they intend to do. Read more
Last week, Speaker of the House Nancy Pelosi (D. Ca.) told us, with a straight face, no less, that unemployment benefits create jobs. Anyone who frequents this blog knows that her comments make absolutely no sense. But, in a marvelous article in Thursday’s Wall Street Journal, Arthur Laffer explains not only why Ms. Pelosi’s statement is completely wrong, but also explains, in basic English, what the Obama administration should have done.
First, there is absolutely no economic stimulus from unemployment benefits. And, long term, it may actually harm economic growth. To demonstrate this, Mr. Laffer asks you to imagine an economy with only 2 workers, one of whom is employed, and one of whom is unemployed, and receiving unemployment benefits.
From whom do you think the unemployment benefits are taken? The other person obviously. While the one person who is unemployed may ‘buy’ more as a result of unemployment benefits, the other person from whom the unemployment sums are taken will ‘buy’ less. There is no stimulus for the economy.
Well, you may say, that example makes no sense because the money isn’t simultaneously taken out of the pocket of the employed, and, put in the pocket of the unemployed. But, the psychological impact is the same. The employed person knows that his taxes will have to rise to pay for the cost of the unemployment benefits, so, he spends less in order to be able to pay for the increased taxes down the road.
Let me add that I do not believe that we should have no unemployment benefits. But, Ms. Pelosi seems to believe the benefits should be extended indefinitely because they will create jobs. They will not. At best, we are only holding our own.
A better way…
Mr. Laffer tells us that between 2007 and now, we have spent $3.6 trillion (between Stimulus Part I, Stimulus Part II, the parts of the 2009 budget Bush vetoed, (aka, the Porkapalooza), and assorted other unemployment benefits extension bills, presumably to save or stimulate the economy.
Instead of spending that $3.6 trillion, Mr. Laffer says:
My suggestion would have been to take all $3.6 trillion and declare a federal tax holiday for 18 months. No income tax, no corporate profits tax, no capital gains tax, no estate tax, no payroll tax (FICA) either employee or employer, no Medicare or Medicaid taxes, no federal excise taxes, no tariffs, no federal taxes at all, which would have reduced federal revenues by $2.4 trillion annually. Can you imagine where employment would be today?
Sounds like Reagan, doesn’t he? Maybe now, you understand “Reaganomics”, and why lowering taxes, not increasing government spending, is the only way to truly stimulate the economy.
On November 9, 1989, the East German Government announced that its citizens could freely visit West Germany and West Berlin. It came after several weeks of protests by East German citizens who yearned for the kind of freedom that the west enjoyed. It also marked the end of a 28 year old blockade that was the result of some 3 and a half million people fleeing communism to the west.
After its erection, numbers vary, but it is estimated that 5000 people attempted to cross the wall resulting in between 100 and 200 people being killed according to published reports.
I have included three videos here. All very short. The first is from a new CBC documentary on the wall, and the web page is really very good. Go and watch. It’s also interactive. I have not been through it all.
Then there is this from ABC … thrilling. I get chills. God bless freedom!
The second of course needs no introduction. June 12, 1987:
I miss Ronald Reagan. Those who remember what times were like then understand the significance of today’s anniversary. It is equally hard to understand why the current President will not be in Germany for the anniversary.
Some people get it. Some leaders understand that leadership requires courage. It also requires a conviction in principles … in this case that freedom is universal and needs to be defended. Tyranny needs to be confronted and defeated. That victory rarely goes to the timid. With that in mind … here is Obama’s response last night (finally) to the Iranian election and subsequent protests and violence. Milk toast.
and here’s what Connecticut’s Senator Joe Lieberman thinks should be said.
and here’s what the Gipper said in confronting evil.
I rest my case.
This is a classic interview and you need to watch the whole four minutes. Please! Senator Robert Menendez spouting the Obama claim that his tax rates will be lower than under Ronald Reagan which is patently false. The Reagan administration cut taxes from a top rate of 70% to 28%.
Cavuto calls Menendez on this and what follows is indeed comedy gold. To be fair Menendez at first is confused and thinks they are just talking capital gains … but even when Cavuto clarifies that he is referring to the top “income tax rate”, Menendex reverts to the “95% of Americans get $1000”.
When he is called on that number, he just denies. Lovely. Cavuto’s response to that? “Senator, you are scaring me.”
After Biden’s comment about Obama being tested within the first six months if elected, I noted that the vice presidential candidate mentioned Kennedy – most likely referring to the Cuban missile Crisis – but didn’t mention other more recent presidents that were tested.