Posted on 02/12/2010 7:40:07 PM PST by TheFreedomPoster
On February 9th, Obama's senior economics adviser, Larry Summers, appeared on FOX Business to discuss the President Obama’s economic plan, which includes future tax increases, record spending, and record deficits (even after accounting for the tax increase which is very disturbing in itself). Summers, contending that increased taxes reduces unemployment said, “Almost all economists who studied these things have that kind of view.” He can't be serious, can he?
(Excerpt) Read more at myfreedompost.com ...
No matter how hard he tries.
This man is totally delusional. Basic economics 101 kills his premise.
They must have some damn good crack in the WH..
Wow, they're almost like all the climate scientists who believe in man made global warming or change or whatever the hell they're calling this week.
Guess we can't argue with all that consensus.
How many gov’ts have taxed themselves into prosperity? Answer 0. Summers needs to be water-boarded.
Summers says eating 12,000 calories a day and living like a couch-potato will cause you to lose weight...
You’re right. I’m an engineer by training and profession, and even I know enough economics to know this guy is talking out his backside. Taxes damage the economy. No tax ever creates a job, creates wealth, it takes money and jobs away from the private sector. Sure, the government can tax you and pay me, but there is always an inefficiency, an overhead there. It would be far better for the economy for you to hire me directly. This guy is only toeing the party line, he knows he’s lying. Sheesh, lying is going to be the hallmark of obama’s administration, everyone in it is doing it.
Are these like the ‘climate scientists’ who say that global warming causes blizzards?
Maybe, in some alternate universe, raising taxes DOES increase employment.
But nowhere does it provide gainful productive employment. Taxation is essentially a destructive activity. Essential, maybe, as the natural impulse to help your neighbor is sometines a little feeble, or gets thwarted in a variety of ways, but never one that is an easy yoke on anybody. Of all the activities of mankind, taxation by whatever authority is still regarded as an onerous duty, and never a pleasure.
This stupidity ranks right up there with Obama thinking that the reason businesses aren’t hiring people is because they can’t get loans.
And *these* are our “best and brightest”?
Harvard must thank Obama every day for getting this idiot out of there after his risky investment decisions cost the university nearly 1 billion dollars. Instead of resigning in shame, he goes on to be a key advisor to the President of the US?
No wonder we’re so screwed.
He is not entirely wrong. Raising taxes creates GOVERNMENT jobs.
Once again the underlying assumptions of their arguments must be dismantled before even considering the ‘arguments.’
Where does the federal government get or assume the power to ‘reward’ businesses?
IT’S NOT THEIR JOB NOR DO THEY HAVE THE AUTHORITY!
Tax credits assumes the government can dictate rewards to businesses for certain actions. And of course it’s usually a one time credit, then the business must carry forward all the unctuous tax burdens that are no longer ‘credited.’
Lower taxes & let the businesses decide for themselves what to do with the extra capital!
“do away with 0% capital gains will create jobs?” What 0%? What color is the sky in this guy’s logic-free universe?
I said earlier today that I’m moving all my George Orwell novels to the non-fiction section of my book case.
slavery is freedom
I think that he really believes what he said but interprets “unemployment” as “employment”, and is advocating postitiona based on the statement: “increasing taxes reduces employment”. This is what’s wrong with this entire administration; they’re rank amateurs, and he is repeating statements made based on memorization rather than logic.
Watching these people whine about a problem, then shoot down the solution is always first-class entertainment.
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