"Just remember what happened to auto sales when the cash for clunkers program ended. Or how about new housing sales when the $8,000 tax credit ended? It isn't rocket surgery, as the Ivy League professor said."
Wouldn't it be nice if the American public elected representatives who possessed common sense?
Hey, they're "representative"...what more do you want?
I think this has been posted already, but it is a good (scary) piece. We aren’t enjoying the full splendor of what the dims have been doing yet.
Wouldn’t it be nice if the American people recognized common sense and fired these bastards, stopped electing them, and altogether elected honorable individuals who will deliberately limit their own power, and eliminate the Lobby industry as we know it.
If wishes were fishes I would be at the bottom of the sea....
There’s a guy over there that comments on articles. Man, he’s good.
Name of Dave Cavena
http://online.wsj.com/community/DaveCavena/activity
While Laffer is once again right, I wish he would have elaborated on how wrong, wrong will be.
That is, since the bad decisions have been made, when disaster strikes, what will be the ill thought out, panicked administration response be?
I am guessing that they will try to alternatively hyperinflate the economy, and re-denominate the currency. This will mean that once what we can buy now for a dollar, costs 1000 dollars because of inflation, they will just declare that the last three zeroes don’t mean anything, so it will cost a dollar to buy a dollar’s worth of merchandise again.
But that simplistic idea hits the brick wall of reality hard.
This is awful. Some are saying that they Bush Tax Cuts cannot be continued because of the size of the deficits. It’s damned if you do, damned if you don’t. I’ll admit that Obama walked into a mess, but he’s made it many times worse.
Almost every person I know in NJ/NY who has investment income is in the process of moving out of NJ/NY. Colorado and Florida being the primary destinations due to low personal and corporate income taxes.
"The result will be a crash in tax receipts once the surge is past. If you thought deficits and unemployment have been bad lately, you ain't seen nothing yet. "
Well, the American people elect the sleazy cons who will bring home the goodies, and it isn’t just Democrats. Our local paper just had an article about Sen. Jim Inhofe, supposedly a true conservative, bragging about some federal money he brought home to Oklahoma. As long as people want to keep their own place at the trough, the spending will not stop.
My idea is to devise a formula that would rate senators based on how much spending they vote for. If your state’s senators vote for more spending than average, then your state’s taxpayers would pay more in federal income taxes. If you have frugal senators, you would pay less. Yeah, I know... it’s not possible. But I can dream.
“If you have been voting for politicians who promise to give you goodies at someone else’s expense, then you have no right to complain when they take your money and give it to someone else, including themselves.”
- Thomas Sowell
The American people need to:
1 – Know they’re about to get ripped off and demoted big time (tax increases are no different than a demotion) with the added extra bonus of the economy will also be tanked, and
2 - Call their Congressmen DEMANDING to have these cuts made permanent OR THEY’LL BE VOTED OUT. Give 'em hell if they don't make the cuts permanent.
What can we do?
1 – Everyone call (and keep calling until you get through) whoever you listen to in the supposed conservative talk-show brigade and tell them to tell their audience what’s going to happen and urge their audience to call their congressmen.
2 – Anyone and everyone who knows or is a Tea Party representative call for them to also tell their audience what’s going to happen and urge their audience to call their congressmen.
3 – Call your Congressmen yourself and do the same: DEMAND to have these cuts made permanent OR THEY’LL BE VOTED OUT.
WWRDIHWH? (What would Reagan do if he were here?) He’d GO TO THE AMERICAN PEOPLE like he always did and URGE THEM TO CALL THEIR CONGRESSMEN to vote for the tax cuts he proposed. THIS IS HOW HE WON THE TAX CUTS. Let’s get everyone with a megaphone who’s on our side to do the same.