If you understand, things are as they are.
If you do not understand, things are as they are.
Gensha, Zen Master
Image of the Day
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| Via Libertarian Catholic |
Chart of the Day: State/Local Operating Deficit Trend
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| Courtesty of watchdog.org |
Just Imagine If the Cops Caught Me Dancing in the Street
Texas vs. Rest of US Post-Recession Job Growth
I've been somewhat silent about recent revision reports hyping annualized growth at a vigorous 5% clip in the third quarter, robust consumer confidence, an uptick in hiring, a declining deficit relative to GDP, collapsing energy prices which are the equivalent of an energy-based tax cut--shouldn't I simply declare victory or, worse, declare Obama an economic success story? No. Let me point out that we have a decades-old labor force participation rate, we have record high food stamp enrollment, and much of the recovery has been, e.g., in the health, energy, and financial sectors. I could quibble with some of the adjustments. Clearly the news could be worse than they are, but are they sustainable? A strong dollar and struggling global trading partners suggests that we can't depend on stronger export numbers, and the oil shale revolution, which has recently doubled production from Texas, is taking a heavy toll from the sharp oil correction over the past few weeks. We will likely see production cuts by the spring and summer, which will moderate any job growth in the oil patch. Whereas Texas has a diverse economy which has accounted for much post-recession growth (see Carpe Diem chart below), it will likely take a hit over the coming year (speaking as a former Houston resident who lived through an oil recession).
Facebook Corner
(Cato Institute). "Fully ending the embargo is a strategy more likely to increase freedom and to discourage the delusion that the United States can determine Cuba’s fate."
We need to stop viewing win-win trade and diplomacy as a "surrender" to despots. It is time for the US to call the bluff of the Cuban Communists, which have been using the excuse of the embargo to scapegoat their massive Statist failures. Trade liberalization in China has not simply improved the lot of party members but has brought hundreds of millions out of poverty. It is time for the US to show moral leadership throughout the Americas and not bully other nations with intimidating military and economic tactics.
(Cato Institute). "A single mother with two children who increases her hourly earnings from the Illinois minimum wage of $8.25 to $12 only sees her net income increase by less than $400...This parent would have to increase her earnings all the way to $38 an hour in order to replace the lost benefits and achieve the same standard of living...In 34 states, the parent would have to earn well above the minimum wage to achieve the same standard of living she had when not working."
it's not welfare for folks that don't make enought, it's welfare for businesses that don't pay enough.
Fascist OP trolls should keep their economically illiterate views to themselves. This anti-business ideological nonsense is frankly counterproductive; businesses, unlike the government monopoly, engages in voluntary transactions. It is difficult to believe a more economically perverse policy than to tax productivity, savings and investment; to layer globally noncompetitive high progressive tax rates on top of that is extraordinarily confused; arguing that not many businesses pay that is totally irrelevant; the point is that the layered tax cut is an additional business cost which deters maximizing production. The fact is that tax revenues have often increased to more than make up the difference in lowered rates. (The troll doesn't understand, for instance, why France is quietly dropping its 75% income tax on high earners; among other things, the related revenues don't even make a down payment on an increasing national deficit.)
The way you get away from corrupt, convoluted tax codes is TO SHRINK THE GOVERNMENT, and replace the fascist carrots and sticks of trying to manipulate the economy with low, consistent tax rates (more on the consumption than the production side) and the competitive, transparent marketplace. But stop trying to rationalize the morally contemptible doctrine of stealing even more from the economically successful.
(Reason). Until police learn to accept that criticism of specific policies and actions doesn't constitute a mortal insult, they will continue to have problems maintaining public support.
Gillespie is spot on. Police protesters are not "more equal" than civilian ones. When you hold a position of public trust, you are subject, in fact, to a higher level of behavior. (As the firstborn of 7, I was held to a higher standard by my parents; while playing sports as a youth, I often heard opposing players trying to pull my chain, saying things about my family members. Shouldn't we expect the police, who possess lethal weapons, to maintain at least the comparable level of maturity and discipline? As a former university professor, I've had to deal with all sorts of student disrespect over the years, including an actual temper tantrum during lecture. One has to respond to challenging circumstances professionally.)
Political Cartoon
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| Courtesy of Glenn McCoy via Townhall |
NOTE: This is the last performance for this year's annual holiday series. With the next post, I'll resume my Glen Campbell retrospective.
Auld Lang Syne
