Tag Archives: tax cuts

Wednesday Morning News Roundup (update)

An earlier version of this post said Tuesday. It was Wednesday. Need more sleep!!

Happy New Year to Everyone. Here’s today’s News Roundup

Congratulations to Stanford University. I guess it is time for us to consider Stafford a legitimate football powerhouse. Really? Stanford? šŸ™‚

There was lots of consternation and handwringing in the House last night. The Senate overwhelmingly passed a lukewarm bill and for some reason this bill drew instant scorn from Eric Cantor and other conservative Republicans. In the end, 85 Republicans joined almost all of the Democrats to lock in the Bush-era tax cuts for the middle class. I think that this, as a whole, is a good thing. I do not, however, think that this is cause for the happy dance. I think we have many challenges ahead and the House GOP has basically told us that they want, that they lust after, spending cuts. This is not going to get any easier.

The House decided that the East Coast did not need any relief from Hurricane Sandy. They adjourned without taking any action. I just don’t understand how that is acceptable.

Finally, I saw this from the South Carolina – Michigan game. It was tweeted out by Rich Eisen. This is an incredible hit. When you’re talking about an explosive hit, this is what you’re talking about. Wow!

Thursday Morning News Roundup

Thursday Morning News Roundup

Many new iPhone 5s are being shipped with defects. I really don’t understand the hysteria. My droid works extremely well and it cost me 1/3 the price.

iOS 6 is a disaster.

New Romney video – he will “harvest” companies. I’m sure that progressivesĀ haveĀ been sitting onĀ thisĀ video and waiting for the right time.

Romney stops a crowd of supporters who are chanting “Ryan, Ryan.” Wow.

The NFL Referee strike is over. Finally!!! I think we can see how unions can work for the benefit of everyone. This union provided a high quality product.

Romney is losing Ohio and Florida. These are two huge swing states. Recent poll shows Romney down by 10.

Romney at a recent conference told small business NOT to except big tax cuts.

Really?I don’t understand why we still allow corporal punishment in the schools. I really don’t get it. In Texas it is okay for male teachers to spank female students. Oh, there is no chance for anything to go wrong there?!

More later!!!

Tax cuts and tax revenue

I think that it is pretty amazing that conservatives are still pushing the craziness that is the idea that tax cuts create more tax revenue. It is amazing that many Americans have jumped on this train. It is exactly like my telling you that you can eat all of the ice cream that you want and not gain any weight. It is that crazy.

Let’s look at this slowly. If I cut taxes, that will reflectively increase tax revenue? So in theory if you keep cutting taxes to zero that would maximize tax revenue? Really? That doesn’t make any sense.

Let’s look at the Bureau for Economic Analysis’ data. Conservatives hold up Reagan as the great tax cutter. So let’s look at tax revenues from his great tax cut.

Wow. It looks as if revenues decreased after Reagan’s great tax cut and never returned to their previous level. I’m just saying… this idea that you can cut taxes and increase revenue may happen at some time in the future, somewhere in the universe. It just hasn’t happened in the US during the last 40 years.