The less education one has, either academic or empirical, in economics the simpler economics seems. Ask any fine arts major if he would pay more for a high interest bond or for a low interest bond and why. Their answer will tell you all you need to know.
I try never to listen to President Obama speak—I find his delivery unpalatable, not to mention his content.
I thought I was the only one who can’t listen to “0”. His delivery is like nails on a blackboard to me and his lies are even more unpalatable. And, now, that he did a belly flop in the swimming pool the other night, the left is bring their “liar” game which, by the way, comes naturally to them. Half the country will believe those “new and improved” economic numbers and the other half who didn’t vote for “0” won’t. By the grace of God, we need to have our White House back from the thugs.
This is what I do with the economic illiterates (80%+ of the USA population):
I ask them 2 questions.
1. How much tax would be collected if rates were 0%?
2. How much tax would be collected if rates were 100%?
If they’re too illiterate to figure it out, I explain how both questions have the same answer. If they get that, then they must agree that lowering the tax rates can increase tax dollars collected.
We, the literate, must ALWAYS correct someone when they talk about lowering and raising TAXES. That is incorrect verbiage. Only RATES can be raised or lowered. Once they get that, got to the 2 questions and repeat.
They would also say that if you raised your price to $100/cup, you'd generate $10,000 in revenue.
Individualistic Capitalists MAKE money,
Communistic Socialists TAKE money.
President Clinton's greatest decision was to keep Alan Greenspan on as Fed Chairman.
In addition to that, there's this huge disconnect in the minds of leftists. They seem to know instinctively that if you don't like a product or activity, tax it, effectively increasing the price, and people will buy or do less of what you don't like. But at the same time, they don't seem to understand that this is the case for ALL products and activities, even those that are beneficial. So they don't seem to understand that when they increase taxes on productive activities that produce revenues, the result is actually less revenue to the government, because they're discouraging those activities, and at some point, people will simply do less of it.
BTW, did anyone else notice that during the debates, Obama continually use the term "revenues" incorrectly when he actually meant "taxes." Someone should send him a dictionary so he could learn the difference. "Revenue" is the money coming into the government. Taxes are a means to generate revenue for the government. But even Obama realized and is on record admitting that increasing taxes actually DECREASES revenues to the government, but that it's OK, since it's "more fair."
This certainly shows the priorities of leftists.
Mark
OK, if you sell 100 cups of lemonade for $1 apiece you make $100, and if you sell 200 cups at 50 cents apiece you make $100...but doesn’t it cost the seller more to make enough lemonade to fill 200 cups than to fill 100 cups?