Tag Archives: Budget

Commentary

How can we smarten up young people who voted for Obama?

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I was browsing on Captain Capitalism’s web site and I found this article where he denounces the idiocy of today’s youth, who have destroyed their own future by voting in droves for Barack Obama.

Here’s an excerpt from the article: (H/T Small Dead Animals)

Young (latin for – idiots who are too young to know what they’re talking about and should not be able to vote until they’re 35) Americans voted in droves for Barack Obama. Why they did this can be summarized why they voted for Stevie or whoever it was that won the latest round of American Idol. It was a popularity contest. Nobody bothered to look at his projected spending. Nobody bothered to see whether there was enough money to pay for his promises. Nobody held him up to any kind of standard or rigor that should have been applied to the president of the United States. And the reason why is that’s “lame man. Why do you have to kill our good time? Why do you have to be such a downer, man? Who cares about economics and finance and the budget. Can’t you just be for hope and change? Besides he’s cool. Did you see his pecks? Geez, you’re such a nerd!”

How are we going to fix these pampered ignoramuses?

Well, for one thing, we can start by pulling them out of public schools run by the secular-left teacher’s unions, and shove them into homeschooling or private schools. But failing that, you can show them an article like this one, from the New York Post, which talks about what “greedy corporations” and “the rich” do when you start to confiscate their profits more and more. They stop producing and/or leave.

Excerpt: (H/T The Cato Institute)

Politicians like to talk about incentives — for businesses to relocate, for example, or to get folks to buy local. After reviewing the new budget, I have identified the most compelling incentive of all: a major tax break immediately available to all New Yorkers. To be eligible, you need do only one thing: move out of New York state. Last week I spent 90 minutes doing a couple of simple things — registering to vote, changing my driver’s license, filling out a domicile certificate and signing a homestead certificate — in Florida. Combined with spending 184 days a year outside New York, these simple procedures will save me over $5 million in New York taxes annually.

…This problem didn’t begin with the current recession. New York faced a $6 billion shortfall before the economic downturn. However, in the face of economic turmoil, Gov. Paterson, Assembly Speaker Sheldon Silver and Senate Majority Leader Malcolm Smith looked to the unions and special interests, who answered with one voice: raise taxes. That was irresponsible — and may just prove to be counterproductive, since the top 1 percent of earners account for about 50 percent of state revenue and are the ones who can and will leave.

It’s called Going Galt.

Humor

Friday night funny: Nancy Pelosi, Michele Bachmann and capitalism

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Here’s Canadian-raised comedian Steven Crowder’s latest video. This one made me laugh out loud, and you will too! (H/T IMAO.us)

And here’s the lovely Michele Bachmann staying calm against Barney Frank. Beauty and the Beast! (H/T The Maritime Sentry)

Remember, Democrats caused the recession and Republicans tried to stop it! And Barney Frank was one of the main players in causing this recession, as you can see from the linked New York Times article. Now Michele has to come in and try to clean up their mess.

Fun cartoons

Here is an old-fashioned video on capitalism. I feel so subversive even showing them to you. This is the kind of thing real Americans used to learn about before the public schools were taken over by marxists, feminists and draft-dodging leftists! (H/T IMAO.us)

Part 1:

Part 2:

More old-fashioned capitalist propaganda here! This one is about energy production, enterprise and competition. It has little green men with pointy ears!

Happy Friday!

News

Who has the better economy? Canada or the USA?

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Hans Bader at the Competitive Enterprise Institute reports:

1.2 million Americans have lost their jobs since the $800 billion stimulus package was signed into law.

The stimulus package has directly destroyed tens of thousands of jobs. A provision in the stimulus package that blocked 97 Mexican truckers from U.S. roads “caused Mexico to retaliate with tariffs on 90 goods affecting $2.4 billion in U.S. trade,” destroying 40,000 American jobs.

It also ignited a trade war with Canada. In response to vague “buy American” provisions in the stimulus package, “A number of Ontario towns, with a collective population of nearly 500,000, retaliated with measures effectively barring U.S. companies from their municipal contracts — the first shot in a larger campaign that could shut U.S. companies out of billions of dollars worth of Canadian projects.”

Yet, Obama had the audacity to claim that only passing the stimulus package would save us from “irreversible decline” and economic ““disaster”.

Obama’s policies echo those of Herbert Hoover, who helped spawn the Great Depression through his protectionism and tax increases.

Remember how Democrats used to complain about Bush and his “tax cuts for the rich”? Yeah, it’s strange how only people who pay taxes (59% of the public) can actually get tax cuts, isn’t it. But Obama has an even better idea: “tax hikes for the poor”.

The Washington Post reports on Obama’s new car tax: (H/T Heritage Foundation, Michelle Malkin, Stop the ACLU, Gateway Pundit)

A senior administration official said the new standards would raise the cost of an average car by $1,300, $600 of which could be attributed to the rules being announced today.

This is not to mention the electricity tax (cap and trade), the cigarette tax, taxing employee health care plans, and the rising cost of living caused by protectionism.

On the other hand, let’s take a look at Canada in relation to the United States, courtesy of the Cato Institute. (H/T Heritage Foundation)

The Cato Institute writes:

Spending: Spending by all levels of the Canadian government peaked at 53 percent of the country’s GDP in the early 1990s, then plunged to 40 percent in 2008. U.S. government spending has risen, reaching 39 percent of GDP in 2008. And with the stimulus package, that number is likely to jump even higher.

Government spending as % of GDP
Government spending as % of GDP

Debt: The Canadian government cut its debt from 71 percent of GDP in 1995 to 32 percent in 2008. Under President Obama’s budget plan, U.S. federal public debt will jump from 41 percent of GDP in 2008 to more than 60 percent next year.

Federal debt as % of GDP
Federal debt as % of GDP

Deficits: Canada has balanced its budget every year since 1998 — not by raising taxes, but by cutting spending. The United States balanced its budget for four years in the late 1990s, but now deficits are so large that it’s difficult to imagine that ever happening again.

Surplus / Deficit as % of GDP
Surplus / Deficit as % of GDP

Corporate Taxes: Canada has cut the corporate tax rate from 28 percent to just 15 percent, and most provinces have trimmed corporate taxes as well. The U.S. federalstate rate stands at about 40 percent, and the Obama administration is planning to increase corporate taxes.

Corporate tax rates
Corporate tax rates

It’s important to note that the Liberal party in Canada is socially progressive, but moderate on fiscal issues. Of course, now that the Conservatives have been running things, it’s gotten even better. It would be great if they could win a majority. The biggest problem in Canada right now is the fascist Human Rights Commissions, but there are candidates from the Conservative Party who intend to abolish the HRCs in BC and Ontario.