Democrat vice presidential candidate Joe Biden said Thursday that paying more in taxes is the patriotic thing to do. That Joe really knows his basic economics, doesn’t he?
He may be even more knowledgeable than the average economically brain-dead DemPol. It is an awfully long reach to imagine this concept is patriotic; that is, if it is patriotic to take money out of taxpayers’ pockets, take money away from investors who put money into the economy, take money away from businesses who would have used the funds to increase America’s productivity, to grow their companies, and hire more workers who also use their income to put into the economy. Although Joe is known to be pretty dumb about such things, he is really only aligning with Obama, who has stated several times that he intends to raise taxes, and who may actually believe that a tax increase will increase government revenues. DemPols will not and cannot accept the fact that tax increases decrease net revenues and tax cuts bring in more net revenues because more money in the hands of consumers and businesses stimulate business activity. Presidents Coolidge, Kennedy, Reagan, and Bush proved this. The governor of Michigan, Jennifer Mulhern Granholm, a Berkeley grad, campaigned on raising taxes promised that it would cut the deficit, increase public spending, stimulate the Michigan economy, increase hiring, and every Michigander would have a chicken in every pot. Did it work, you might ask? It turned out foul allright – one big turkey and not in a pot. Michigan has experienced a one-state recession, the deficit has not gone up, and unemployment is at eight and one-half percent. This is a microcosm of what America will look like with Obama and Biden in charge.
One Guy's Opinion on the Political Scene By: Jim Herndon
