Posted on 03/20/2014 12:42:44 PM PDT by rightwingerpatriot
It's a tale of two different economic principles as we examine what President Obama proposes and what's being executed in Texas. As we all know, progressive liberals like Obama want to interfere with every aspect of the economy, raise taxes, and vastly increase regulations and red tape. We're told that such measures will increase our economic prosperity as we're just plain too stupid to do things on our own and need the blessed guidance of big government to take care of us. The opposite approach is being taken in Texas where Governor Rick Perry has spearheaded lower taxes, lower regulations, and less government influence in business. The results of such actions are predictable, unless you're a liberal.
Obama has been pushing to raise the minimum wage to $10.10 an hour, saying that such a wage is needed as a "living wage" to workers. He naturally ignores the fact that minimum wage jobs are designed for people just entering the work force to gain experience or those looking for side-jobs to make some extra money. Minimum wage jobs are not designed for those who wish to raise a family or buy a house and a nice car. If you're an older worker making minimum wage, then you're a loser who's made some bad decisions in your life. I hate to be blunt but those are the stone cold facts. If you've been working at McDonalds for fifteen years flipping burgers, then you've made the conscious decision not to find a better job or work your way up the corporate job ladder.
With Obama's proposed hike to the minimum wage, jobs will be lost. The Congressional Budget Office (CBO) has figured that raising the minimum wage from the current $7.25 an hour to $10.10 an hour will result in a net job loss of 500,000 jobs by the end of 2016. Other studies have shown that employers will cut back as well. A survey done by the Express Employment Professionals found that if the minimum wage is increased, a whopping 38% of private employers will fire workers, another 54% will hire less people, and 65% will raise the prices of the goods and services that they offer. This comes as no surprise to anyone who has any experience in the real working world, unlike Obama and his progressive liberal cronies. The single biggest expense for any business is their employees. If you force businesses to spend more money on employees, businesses will have to make up that difference by raising prices, cutting hours, or cutting jobs entirely.
On the opposite side of the coin, we have the booming economy of Texas. Their unemployment rate is below the national average and stands at 5.7% currently. Even more telling is that new jobs in the state of Texas were for all industries across the board, which is unlike many states were many new jobs are for the government sector, which is just a drain. Texas has five of the top ten cities for job seekers according to Wallet Hub. They found that Fort Worth was the number one city in the nation, and four other Texan cities found their way on the list: Arlington, Dallas, Austin, and Houston. The economic boom has filled the state's coffers with sales taxes. Revenue from sales tax in Texas has increased for 47 straight months! I can't emphasize that fact enough.
In the real world, taxes are generated by the circulation of money. The more that money circulates, the more taxes are raised off of it. When people have more money due to lower tax rates, they spend that money at businesses such as restaurants, grocery stores, computers, or even vacations. In turn, those businesses use that spent money to hire additional people and put out new products. This cycle endlessly repeats and everybody wins. When the "evil" Bush tax cuts were announced, liberals lost their mind, saying that such cuts would only benefit the wealthy and tax revenues would plummet. Instead, tax revenues doubled to the government. Every time taxes are raised, revenues to the government fall. Yet when taxes are lowered, revenue increases every single time. Sadly, liberals ignore such instances because they are facts, and liberals seem to have a psychological aversion to facts.
The different economic approaches could not be any more different between President Obama and Governor Perry. As can be clearly seen, each man's policies have a measurable effect. Time and again, one is shown to be good and effective while the other cripples the economy and hurts workers. That is why it's so frustrating to sane people to see the same old failed policies trotted out year after year by liberals. Government interference and regulation strangles the economy and jobs, yet that's what we always hear from those who've never worked a day in the real world.
Now if we can get the Texas legislature to abolish the onerous state franchise tax, and to cut back on any fees that the state of Texas tacks on to any professional license, it will really boom.
The franchise tax was on the primary ballot.
Has anyone heard about the results?
Passed 89 to 11% but whether anything would happen in the legislature, who knows.
We could have had Perry as President but no, he was not smart enough, SO we now have obama...happy?
Ok. Thanks for that. The media has ignored this issue so I figured it passed big time.
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