American Elephants

They Really and Truly Hate the Rich! by The Elephant's Child

Many people in this country have never associated much with people unlike themselves.  This is, I would suggest, the reason for most prejudice,  for most multiculturalism and most racism.  When we don’t know much about people who superficially seem a lot different, we are apt to rely on stereotypes.  Once you get to know them, you find out that they are pretty much like everybody else — some are nice, some aren’t, some people you have a lot in common with, and some you don’t.

Liberals , for some reason are more inclined to categorize people.  They separate people into voting blocks; they group them according to income, education, race, ethnicity and of course, sexual preference.  Who is always talking about the “elite” from the ivy league schools?  Who divides folks into “the rich” and “working people,” talks about ” flyover country,” and sneers at the great unwashed in the middle of the country?

In the battle over keeping tax rates the same or raising taxes on “the rich” the Left has tried hard to obfuscate what is going on.  Even President Obama is claiming that Republicans want to raise taxes on the middle class.  This is false.

Democrats want to raise taxes on anyone making over $250,000.  Republicans do not want to raise taxes on anyone.  Experience shows that raising taxes during a recession is a bad idea.  Republicans insist that taxes remain the same as they are now for everyone.

The estate tax,or death tax, is now zero.  Since you have paid taxes many times on everything you leave to your children, Republicans do not feel it is fair for the government to demand 55 percent of it.  President Obama claims that if he doesn’t get to take 55 percent of all estates, he will have to borrow $600 billion from China.  That is false.  He just has to spend less.  So Democrats have  knocked the death tax down from what they want (55%) to (35%) and consider that fair.

The Left really hates the rich.  They seem to believe that the rich do not work for their money.  They refer to them as “fat cats”  (Obama) or “trust funders” ( Rep. Jim McDermott D-WA).  But roughly 80 percent of millionaires in America are the first in their family to be rich.  They did not inherit their wealth, they earned. It has all still been taxed many times.

Recent studies  show that upper income workers are working more hours, while lower-income workers hours have decreased.  A study by economists Peter Kuhn and Fernando Lozano shows that the number of men in the bottom fifth of the income ladder who work more than 49 hours per week has dropped by half since 1980. The top fifth of earners’ work weeks in excess of 49 hours has increased by 80 percent.  Higher income people just work more hours than lower-wage people.

The top 5 percent of American workers earn slightly more than one-third of all income, but pay 59 percent of all taxes –nearly double their fair share.

In 1990, Congress wanted to get the rich, so they imposed a “luxury tax” on frivolous items like high-priced cars, aircraft, jewelry, furs and yachts.  The tax worked.  The rich bought fewer luxury goods.  Thousands of Americans who worked in the jewelry, aircraft and boating industries lost their jobs.  A study for the Joint Economic Committee found that the tax destroyed 7,600 jobs just in the yacht building industry. Even those frivolous expenditures create jobs for the rest of us.

Dedicated believers in Keynesian economics believe that the rich don’t spend enough of their money, while unemployment insurance money is spent immediately. They believe that economic growth is driven by consumer demand. Thus if you give people enough money to spend, all will be well.

These graphs from the Congressional Budget Office should help to explain who pays what percentage of the taxes.  (Click to enlarge).  You can’t make the poor richer by making the rich poorer.  Doesn’t work that way.

“All the News That’s Fit to Print,” or Not. by The Elephant's Child

James Taranto, writing in the Wall Street Journal, noticed the “Corrections” column in the New York Times was even more amusing than usual.   “Other Than That, the Story Was Accurate,” he titled the paragraph:

“An earlier version of this article incorrectly reported that Ann Richards beat George Bush in 1990. She actually beat Clayton Williams that year. The article also incorrectly left the impression that Earl Weaver, the former Baltimore Orioles manager, is dead. The article also incorrectly stated that the Orioles won their division twice in the 1990s; they won the division in 1997, but they went to the playoffs and the American League Championship Series as the wildcard team in 1996.”–correction, New York Times, Dec. 12

Journalism is attempting to commit suicide.  That is an amazing amount of incorrect information that bypassed the fact checkers.  They corrected it, so what’s the big deal?  It is a matter of trust.  If the “paper of record,” the “old Gray Lady,” cannot get simple facts right, why should we rely on them for information?  The only possible reason for the existence of journalism is that they offer facts and impressions of the world as it is, and has been.  If they cannot be trusted, they may as well look for other work.  Amusing, maybe, but not funny.

Democrat Congress Has Worst Job Approval in Gallup History by American Elephant
December 15, 2010, 12:46 pm
Filed under: Liberalism, News, Politics, Progressivism | Tags: , , ,

Thirteen percent approve of the current Democrat congress — the worst approval rating of any congress since Gallup started polling the issue 30 years ago. That means almost no one approves of this “progressive” congress other than staffers and family members.

Can we finally admit it? Worst congress EVER!

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