The left thinks we can hammer fatcat CEOs and tax businesses and all will be well. Play with this app and see how wrong they are: Soak the Rich
Also, just for fun, there are a couple of good charts and a website you might want to bookmark in this article by John Hinderacker at Power Line.
Speaking of good charts, Dan Mitchell at International Liberty has a couple of charts comparing the personal wealth created by Australia’s social security system (a privatized system) and the staggering debt incurred by our Ponzi scheme social security system. How ignorant to people have to be to buy into the Democrat argument that privatizing social security (forced savings invested in relatively safe mutual funds) is more risky than putting 14% of our pay (our half, plus the employers’ half) into a system where the asset not only doesn’t grow, but the system it’s being put into is already failing. I’ve had failed businesses… Anyone want to invest in them NOW?
So much for the static model relating to taxing and spending… Warren at Coyote Blog has an article about the unexpected shortfall in tax revenue in California turning a (supposedly) balanced budget into a $12 billion deficit in 9 months. Hmmm… Are you trying to tell me that perhaps a state with high taxes and a government collapsing from overspending might be driving high earners out of the state, thus leaving them with an “unexpected” revenue shortfall? Nah… How would anyone possibly predict that (entirely probable and widely supported by evidence) outcome? Warren has another interesting article here about the supposed “austerity” in Europe, which doesn’t seem to include decreased government spending… Odd.
A good Trifecta from PJ Media, featuring Bill Whittle, Scott Ott, and Steven Green talking about people complaining that Apple doesn’t pay enough in taxes. I love the points Bill makes at the end. A corporation pays its corporate income taxes, but it is also responsible, as the source of, payroll taxes (in Apple’s case, amounting to an amazing amount of money, I’m sure), property taxes (on its buildings), and sales taxes when people buy their products. Can you imagine what the numbers would be if we added up what Apple has been responsible for in terms of federal, state, and local taxes over the years?