Tuesday, November 9, 2010

One trick pony and LOTS more pie please

At BigGovernment today, Paul A. Rahe points out how TheWon is A One-Trick Pony:

"Newt Gingrich once remarked that the most impressive thing about Bill Clinton was that he never stopped learning. By way of contrast, the most impressive thing about President Obama is his incorrigibility. He really is a one-trick pony incapable of learning anything new. He and his party have just suffered electoral defeat on a scale they have not seen in more than seventy years, but there is not going to be any change of course. Instead, the President is going to deploy his teleprompter and lecture us over and over again. The endless campaign – with its vapid rhetoric – is going to go on and on and on.

If I were John Boehner or Mitch McConnell, I would be pinching myself. Who could believe their luck? The only thing that it would take to complete their good fortune would be the return to prominence of Nancy Pelosi as minority leader in the House of Representatives – for that, coupled with Harry Reid’s continued ascendancy in the Senate, would be a signal that the Democrats have decided over the next two years to wage an all-out partisan war.

In sum – thanks to the unholy trinity of Obama, Pelosi, and Reid – what we can expect in 2012 is a replay of 2010."
I like pie. Americans like pie. Pie is mentioned in the definition of Socialism? (huh?) I searched for the history of the term "piece of the pie" and first pop up was from "Your dictionary.com":
"Socialism is a system whereby the ownership of capital, resources and production capability reside with and are controlled by the citizens. In theory, citizens have equal access to the products and resources and are compensated based on the amount of work performed.This form of economic control claims to have the benefit of allocating resources, services and compensation equitably among the population. In other words, the system purports to be fair to everyone and to provide everyone with an equal piece-of-the-pie."
The problem is, as history proves over and over (and over and over), socialist are wrong: there isn't just one pie. Ingredients are plentiful, they CAN be made out of thin air and there is actually an endless supply of pie!
Dan Mitchell, also at BigGovernment, discusses the economics in Debunking White House Pro-Tax Increase Propaganda:
"1. The economy is not a fixed pie. Notwithstanding all evidence, there is a near-religious view on the left that the rest of us somehow must have less if a rich person earns more. The video highlights important evidence on income mobility and economic growth.
2. There is a Laffer Curve. Folks on the left assume that higher tax rates have no impact on economic performance. Not surprisingly, there is widespread evidence that taxpayers are very responsive to changes in tax rates. Using IRS data, the video explains what happened with tax collections from the rich during the Reagan years.

3. Keynesianism is wrong. The Obama Administration has a simplistic Keynesian approach to fiscal policy. As such, they only think tax cuts help growth if people rush out and spend the money. Yet this was the same rationale for the failed stimulus, and the video shows how unemployment is far higher than the White House promised."


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