May Economic Numbers Discouraging: Will Team Obama Create Another Social Issue to Distract From it?

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Once again, the monthly economic numbers represent a disappointment.  The Blaze has more…

U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up.

The dismal jobs data will fan fears that the economy is sputtering. It could also damage President Barack Obama’s re-election prospects. And it could lead the Federal Reserve to take further steps to help the economy.

The Labor Department also said Friday that the economy created far fewer jobs in the previous two months than first thought. It revised those figures down to show 49,000 fewer jobs created. The unemployment rate rose to 8.2 percent from 8.1 percent in April, the first increase in 11 months.

Now, excuse my sarcasm, but the Obama administration has two options…

1.  Blame the Republicans, the Tea Parties, some natural disaster-ANYTHING.  Because, we know that in every leftist regime or organization, when there is a failure, it’s ALWAYS someone else’s fault.

2.  Numbers?  What numbers?  Did you know that the Republicans want to freeze/starve/kill all the poor children/elderly/women?  

Of course, the MSM will tow the line, but we all know that this will fail.

Linked at What Would the Founders Think?  Thanks! 

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Graph: Results of Tax Cuts on Revenue to the Federal Government

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Democrats, led by President Obama, frequently advance the argument that the deficits that the federal government has been running since 2001 (~$500 billion under Bush’s 8 years, ~$1500 billion during Obama’s 3 years) are the result of the Bush Tax Cuts (which Obama and the Democrats continued and extended), thus it is the Republicans and George W Bush’s fault for the current nation-destroying federal debt. Let’s look at the data:

Drawing on data provided by the White House’s Government Printing Office, we can see here a history of the revenue or money collected by the national government since 1980. I went ahead and drew some lines in to indicate 4 of the arguably largest tax cuts that occurred during that time.

As we can see, the revenue that the federal government collected immediately grew by substantial amounts after the tax cuts in 1981, 1986, and 1997, giving us three solid data points from which to draw a conclusion that tax cuts, especially on the wealthy and on business, lead to the federal government getting more revenue to defend our borders and provide services for the truly needy. The Bush Tax cuts of 2001 though did not lead to immediate and substantial growth of revenue- but after another tax law in 2003 was passed which accelerated the tax cuts and added more of them, the result was an explosion of revenue for the government, jumping from $2 trillion to $2.6 trillion in only 7 years.

All other things being equal and the logic being consistent to what was seen in earlier tax cuts, the implementation of the Bush Tax cuts led to an additional $600 billion a year in revenue for our federal government, leading to better protection of life, liberty, and property for the citizens of the United States of America.

Who doesn’t like that?

UPDATE: To take this a little further and show you how crazy I am, I suggest that there is a way to cure our current deficits, and the cure is more cowbell. If previous tax cuts led to increased federal revenue, then more tax cuts could also lead to more federal revenue- by my estimate, if taxes were cut by the same level as Bush+Clinton+Reagan, then we’d be able to raise enough revenue to balance the budget.

So there you go- Democrats and liberals and Obama, Pelosi, Reid, Stabenow, and Peters are all backwards again- rather than raising taxes to balance the budget, they should be massively cutting taxes. The prosecution rests.

Original Post:  A Conservative Teacher

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Capitalism Lessons for Obama from 1948: Will he Learn?

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This past week, President Obama called on former President Clinton for his help on the struggling U.S. economy.  It appears Obama is starting to feel the heat from his failed economic policies as more and more people express concerns over his ability to address the nation’s economic woes.  The U.S. Chamber of Commerce issued a scathing critique of the administration’s policies.  The leading business group issued a rebuke of Obama’s economic agenda, accusing him and his Democrats in Congress of neglecting job creation and hampering growth with burdensome regulatory and tax policies. This is all happening as the Senate prepares to vote on one of the most anti-capitalistic bills (Financial Reform Bill) that this nation has ever seen.

It appears that the President and his party are struggling over what exactly capitalism is and how it can actually help restart the economic engine of America.  So I found this clip on You Tube to help them out.

Less regulation, property ownership, competition, choice, and dare I say…profit.  And hey it all adds up to a free enterprise system.  Now I know capitalism is a tough concept for a Marxist or a group of Marxists to understand, but I hope this 9 minute video helps the Democrats and the President gain a firmer grasp on the basics of capitalism.

Liberty forever, freedom for all!

Original Post & Image H/T: The Current

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Thursday, July 15, 2010

Capitalism Lessons for Obama from 1948

Yesterday President Obama called on former President Clinton for his help on the struggling U.S. economy.  It appears Obama is starting to feel the heat from his failed economic policies as more and more people express concerns over his ability to address the nation’s economic woes.  The U.S. Chamber of Commerce issued a scathing critique of the administration’s policies.  The leading business group issued a rebuke of Obama’s economic agenda, accusing him and his Democrats in Congress of neglecting job creation and hampering growth with burdensome regulatory and tax policies. This is all happening as the Senate prepares to vote on one of the most anti-capitalistic bills (Financial Reform Bill) that this nation has ever seen.
It appears that the President and his party are struggling over what exactly capitalism is and how it can actually help restart the economic engine of America.  So I found this clip on You Tube to help them out.
Less regulation, property ownership, competition, choice, and dare I say…profit.  And hey it all adds up to a free enterprise system.  Now I know capitalism is a tough concept for a Marxist or a group of Marxists to understand, but I hope this 9 minute video helps the Democrats and the President gain a firmer grasp on the basics of capitalism.
Liberty forever, freedom for all!
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