Measuring Income Inequality: It Doesn’t Add Up
During the State of the Union this year, we heard President Obama talk repeatedly about fairness and taxes as he painted a picture of income inequality to shape the narrative of the coming election year. The problem is that income inequality really is a myth, yet it is being perpetuated: the gap between rich and poor has never been higher. The data used most frequently | Read More »
Mitt Romney should leverage his tax records to re-educate Americans on the prosperity capitalism can engender.
For months we’ve heard calls from Democrats for Mitt Romney to release his tax records. Last week Harry Reid even claimed he had it from “a number of people” had told him that Mitt Romney had not paid his taxes for a decade and demanded he release them. I’d like to suggest Mitt Romney actually go ahead and release his tax records. Much like pulling | Read More »
I love Billy Joel’s music. So when I heard that Eduardo Saverin, co-founder of Facebook, renounced his US citizenship in order to get around paying taxes on his income from Facebook’s IPO I immediately thought of Billy Joel’s song “I’m Moving Out”. To see the entire song’s lyrics, go here, but I want to show you one stanza to drive a point home: You should | Read More »
Two Catholics and a Mormon
For the first time in its over 150 year history, the Presidential nominee for the Republican Party will either be a Catholic or a Mormon. Former Massachusetts Governor Mitt Romney (Mormon), former Speaker of the House Newt Gingrich (Catholic) and former Pennsylvania Senator Rick Santorum (Catholic) are the three legitimate candidates left in the race to face President Barack Obama in November. In a country | Read More »
Where Dems get their definition of who is “rich”
President Obama’s new budget again proposes raising the tax rates for the “rich” people who make over $200,000 a year (singles) or $250,000 a year (marrieds). Capital gains and Medicare payroll taxes would also rise for these horrible rich people, and their deductions for mortgage interest, charitable contributions, property taxes, sales taxes, state and local income taxes, medical expenses, and employee business expenses would be | Read More »
The Rich Aren’t Quite So Evil
One of the great pillars of liberalism is class warfare—pitting one demographic group of individuals versus another. The most common battle is between the so-called rich versus the middle-class and poor. We’re seeing it now in the current debate over extending the Bush tax cuts. The rich are often portrayed as evil, heartless, and swimming in greed, seeking only to make more and more | Read More »
Who is rich these days?
I am not rich. Not by a long shot. Therefore, I don’t think I have to worry about being the object of class warfare. But really, who is rich? The word has been thrown around since people figured out what class warfare was. Rich has meant robber barons, steel magnates, the Rockefeller family, CEO’s, millionaires, billionaires, celebrities, and everything in between. Bill Clinton decided in | Read More »
Recovery? What Recovery?
Think about it. The bickering in Washington about whether to extend the Bush tax cuts is deeper than whether or not one class benefits or suffers. The tax cuts signify whether our economy can piece itself back together or remain stagnant. According to the Department of Labor, four hundred and thirty six thousand unemployment claims were filed last week. The unemployment rate has been flirting | Read More »
Tags: Ben Bernanke
Palms, Knuckles, and Fingertips: A Rich Assessment of Palin Hate
Oh, it is indeed a hard time to be a liberal. The storm clouds of destiny are so close one can feel the humidity of the humiliation that is about to rain down on the liberal left. The thunder, of course, is the American people who have had enough of uncontrolled spending and the quickstep to socialistic left with which Barack Obama and his political | Read More »
Ambush at West Egg: Caroline Writes Another Gatsbyesque Chapter in the Kennedy Saga
A great deal of fog surrounds the astonishing decision of Caroline Kennedy, released at the midnight hour, to withdraw from the selection process for New York’s open Senate seat. While titillating rumors swirl, hard facts are few and far between. So I will defer analysis until a later time. But I can say that this looks like another instance life imitating art. The rich and | Read More »
Changing Our Conservative Vocabulary
Something has been bothering me for some time about the vocabulary conservatives and libertarians have been using to describe liberal economy policy. We hear it on radio from Boortz and Hannity and television from O’Reilly; we read it on blogs by Thomas Sowell and in newspaper columns by George F Will.
The term I refer to is “wealth redistribution,” called for throughout history by Marx, Lenin, Castro and Chavez. Liberals in America don’t use the term, knowing that it will bother conservatives and many moderates. Unfortunately, it is unconvincing to many, especially liberals, that such a beast as wealth distribution would be a bad thing.
After all, “wealth redistribution” is just taking money from the evil, awful “rich” and giving it to those poor, needy “less fortunate.”
Read More »
Screw the Rich
Dear Obama, I know you feel that there are too many wealthy people in the United States. Maybe you are correct. Try this. Instead of just taxing them into poverty, why not try a free market approach? You have appointed a few centerist economic advisors. Why not? I called my doctor and needed an appointment with a specialist. The first appointment is in 3 months. | Read More »
Obama’s True Agenda
For months I have been concerned with Obama’s view of Government’s role in citizens’ lives. I have always thought of him as being Socialist, and that worries me. But what worries me more is “why” he has socialist views. I have waited to hear someone, anyone in the media mention this, but our world today is so politically correct, that the mere whisper of an | Read More »
Obama’s Change Mantra
There is a lot of talk withint the Obama campain about “change” from the current administration or status quo. However, we are not exactly sure what Obama means by change. Change, in itself, mean something different than what we are currently used to. Is change always good? Obviously not! You could say that Hitler offered change from the democratic Germany in the 1930’s. I am | Read More »
Hate The Rich!
Last week’s Tax The Rich! diary quoted a WSJ story about how the top 1% are paying a larger share of income taxes than ever. Two days later, a different WSJ reporter put a completely different spin on it. It couldn’t be any more backwards of a report than the first one. The reporter laments that the average tax rate of the richest 1% fell | Read More »