Austan Goolsbee, the new chairman of President Obama’s Council of Economic Advisers, is out with a blackboard talk video on tax cuts. Bottom line: His show and tell rams home the point that only rich bastards are going to be taxed under the Obama Plan.
The problem, of course, is that it is rich bastards that invest money so that new products and services are launched. It's real simple (though Goolsbee doesn't get this simple), tax the rich means a lower standard of living for all because there will be fewer investments made and thus fewer products and services in the market.
Ha!
ReplyDelete"People making more than $1 million a year are gonna be getting a tax cut of more than $100,000. THAT'S EXPENSIVE! Giving these big red eggs to the very high income people would cost $700 billion that we would have to borrow to give it!"
You have to borrow money just to "give" us our own earnings? You know what sounds like a truly expensive waste? Mailing $100,000 to you, Gooslbee!
He also repeats the Since-I-am-not-taking-it-from-you-so-I-am-giving-it-to-you fallacy.
ReplyDeleteLying, evil scumbag.
ReplyDeleteAnyone who watches this, realize he is basing this off the premise that if you are a US citizen you are a serf of the US federal government, that all your income rightfully belongs to it and that it "gives back to you" what it deigns by tax cuts.
His math is not even honest! $100k in benefits would be someone making $2.8m and already paying $1m. in taxes. A person making $1m, would see a $30k increase.
ReplyDelete