Happy Halloween!!!

27 10 2009

Halloween is just around the corner.  Costumes are being selected, parties arranged and way too may people thinking their Michael Jackson costumes will be original in 2009.  Just to take advantage of the season, I feel this cartoon will give us all a better appreciation for those fighting against the redistribution of wealth, unless of course, they are lazy people.

Bon appétit! :


Barney Frank Insists on Bigger Government

27 10 2009

Barney Frank at the Kimmel Center for the Performing ArtsHow is this possible?  Barney Frank wants the government to be larger?

While I searched for a new article, I came across this video clip on Real Clear Politics:


It is quite clear that Barney Franks has an agenda, but nonetheless, he is elected over and over and over again. It seems to me that the people of Massachusetts need to reconsider.

Check out Barney of wikipedia if you are unaware of what this man endorses…HINT: LGBT.

Here’s the link to Barney Frank, my loyal readers: http://en.wikipedia.org/wiki/Barney_Frank

Sure the Congressman endorses the freedom to be whomever you please, but he also supports taking your earnings to make an even larger government sector.

Friedman and Donahue on Greed

5 08 2009

Considering that Milton Friedman is my FAVORITE ECONOMIST and President Obama has ignored Friedman’s recommendations, I feel it is time to share this clip to remind you all about GREED.  Please watch this short video (less than 2:30 minutes) to see Friedman discuss the importance of the free market system with Phil Donahue.

PIGovian Taxes

4 08 2009

Harvard Professor N. Gregory Mankiw discussed pigovian taxes in his blog and his support for these taxes.  Pigovian taxes are simply taxes on gasoline or alcohol or tobacco, et cetera that have made the claim that they will help society by reducing the long run gasoline prices, reducing pollution, solving road congestion and most importantly, helping the budget eliminate the disequilibrium, the deficit.

While all of these claims are seemingly the cat’s meow it is simply a cause of more serious issues including taxing on taxes, improperly solving the polution problem, and redistribution of wealth.  I do have a hard time refuting the objective of reducing the overall debt, but not through increased taxes.

Sure these taxes produce a reasonable argument, taxes are still taxes.  When the people already pay income taxes, why not add on consumption tax?  This method of taxing on taxes gains more profits for the government at the expense of ethics and your hard earned dollar.

The pollution problem most certainly should not be solved through increased taxes.  Cap and trade is an inefficient method of reducing pollution, as it is one of the many government perils of intervention; taxing polluters causes businesses to be harmed and certain individuals as well.  With taxing gasoline, it is expected that less people will use the roads and sequentially, the pollution will go down.  The true problem is not solved by taxing, it should be solved by lawsuits.  Those who are concerned so greatly with pollution are provided the right to sue anyone causing harm or nuisance.

Finally, redistribution of wealth!  Some economists simply feel that the government is good and productive; I, on the other hand, see the State Auditors playing three hours of bridge during their eight hour workday.  Taxing more on gasoline to reduce road congestion should lead to wealthier persons on the road and less of the less fortunate.  Consequently, the rich pay the taxes while the poor gain the benefits of the rich paying off the national debt.  This is strictly robbing from the rich to feed the poor.   Take a minute to think about pigovian tax; it sounds good,but it is unethical and a poor approach.

Professor Mankiw, maybe you should reconsider your pigovian endorsement.

CNN: What Caused the Recession and the Solution

3 08 2009

Former President Clinton left the office with a decent national surplus, but shortly after, Former President Bush brought us back into a deficit.

In this article by Alan J. Auerbach and William G. Gale, they make the claim that the economy can be fixed by cutting spending and increasing taxes!  I STRONGLY disagree.  It is very evident that increased taxes will not help the American welfare.  I agree that cutting spending will help, but increasing taxes will only hurt investors and consumers and net exporters…it would be an epic failure.

The true solution is to cut spending and to reduce taxes; pay off that deficit and get back on top.  Sure taxes could help pay off the debt, but by taking more money from the people the government would slow the economy and reduce that likelihood of success.  It is essential to allow money to remain out of the hands of the government.

History has shown that government intervention results in prolonged recessions or even a depression, but letting the market fix itself has shown much better results.   Sometimes the market is up and sometimes the market is down, but left to fend for itself, it will always return to equilibrium.

For once the government should take this approach!

Quiz: Find Out if YOU Follow Austrian Economic Thought

3 08 2009

I took this quiz at http://mises.org/quiz and scored an 89/100 on Austrian School of Thought.  My primary flaw is my sense of Chicago Thought.  So be aware that I do lean a bit towards Monetary Policy even though I should not.  Take the quiz to determine how you measure up to the Austrian standard.   I hope you produce similar results and will realize the need for small government and its accountability.

If the quiz makes the claim that you are of the Chicago School of Thought, do not fear; you are simply a fan of the Fed, partially.

US Treasury Secretary Tim Geithner Tries to Sell His Home

27 07 2009

The federal government and the media have seemingly taken the stance that the economy is finally making a turn around.  Unfortunately, this is the scheme of President Obama, and these people have fallen for his bait.  These “one-time” jobs make the economy look good, but in reality…it’s NOT.  The new jobs are simply wasteful and once again, funded by taxes.  The 15% to 20% taxes taken out of every paycheck for the federal government help fund these jobs, not careers.   People are employed to make a new road, or install toilets, but once the road is redone and the toilet installed, these road crews and plumbers are out on the street begging for a job once again…and hopefully you can help employ them with your taxes again.

If you were to keep your money instead of giving it to wasteful bureaucrats in D.C., maybe we would have never found ourselves in this situation in the first place.  Liberal theories instead of sound judgement and facts have turned into a disaster.  It is clearly an inefficient process to hire and fire people to do tasks that make the president look good.  Any president can “create job”, but the trick is maintaining them.

As to Tim Geithner, he has had the same problem with selling his home as many other Americans have.  The fear of the market drives certain people to place their house on the market, after a couple weeks or a month or two, no one buys; this results in lowering the asking price and many have had any success.  Geithner was hit so hard with this reality that he is now renting his $1.6 million home for $7,500 because he cannot afford to live there anymore.

Let’s think long run friends.  In the long run, we are not all dead.  That was just Keynes making up obserd theories.