Why liberals are bad at economics, part 1841414

[Denny Crane]

Trying to make the case for tax hikes, MSNBC announcers (Chris Matthews for one) say things that fly in the face of logic. First a bit of background:

Paul Ryan, in his speech, bashed Obama for ignoring the Bowles-Simpson commission findings. MSNBC bashes Ryan for being on Bowles-Simpson and voting against the final report. Well, Ryan didn't form the commission as if he were president and intended to take its advice, nor should anyone expect the report to be approved unanimously.

So Matthews huffs and puffs and says, "we tax 15% of GDP and spend 25% of GDP; so they really should meet in the middle at 20%."

What the hell does % of GDP have to do with anything here? He's making a ridiculously absurd argument that only a liberal who's bad at economics can love.

What's more? 20% of $100, or 15% of $1000? And WHY do we have to spend 25% of $100 and 25% of $1000? Isn't 15% of $1000 a hell of a lot more govt. spending?

As long as the effective tax rate is not zero, the bigger GDP is, the more taxes the govt. will collect. And as long as there's incentive to live off govt. unemployment, welfare, and disability handouts, ONE IN NINE people currently unemployed will not be contributing to bigger GDP.

It IS the economy, stupid.

 

[MARIS61]

2 quick points.

Chris Matthews is not a liberal representative, and in fact is not even a liberal candidate.

Just because the President puts together a committee to gather data and present it to him in no way implies he has agreed to accept their personal conclusions as to what that data actually means or what he should do about it. He is merely acting responsibly by becoming as informed as possible about the topic before taking action.

The simple fact is that such exercises are a ridiculous waste of resources that accomplish nothing. We all know that better far pay and far better benefits for the average working American in relation to the average American CEO made American a super-power. We also know the scales have been tipped approximately 4000% in favor of the average American CEO at the expense of the average working American over the last 40 years.

Return the balance to the levels it was in the 60's and America will once again rule the economic world.

OR, refuse to do so and suffer the consequences.