American Elephants


Cutting the Corporate Tax Will Create Growth. That’s A Good Thing! by The Elephant's Child

To quote John Steele Gordon this morning “Only the brain dead could see Trump’s tax plan as a negative for the economy.Newsweek: “Trump’s Proposed Tax Plan Could Cost the Government $6 Trillion.” Why am I not surprised? Democrats simply do not understand economics. Allowing the people to keep more of their own money is simply incomprehensible to your standard run-of-the-mill Lefty.

Under the new rules, an individual making $35,000 each year would be able to remove $15,000 from their taxable income through the deduction, leaving just $20,000 for the government to tax.

On top of these tax cuts, Trump is expected to outline his proposal to lower the corporate tax rate from 35 percent to 15 percent. And he will seek to reclassify small, individually-owned businesses that currently file their taxes under the individual code so they are under the corporate tax code instead.

Democrats can only think of the 20% of corporate income that would not be taxed and how can the government possibly get along without that corporate money? Leftist hatred for rich corporations is always a mystifying thing. Everything they wear, eat, use and work with is a product of a large corporation, if they are not government bureaucrats they probably work for a large corporation and they indignantly badmouth corporations and seethe at the exorbitant salaries of American CEOs.

For a business, taxes are just a cost of doing business. Those costs are figured into the price of whatever the business produces, and are paid by the taxpayers who buy the products. If taxes go up, so does the cost of the product. If taxes go down, the business has some extra to expand, to innovate, to create, and the economy grows.

It is very simple, but Democrats do not think in those terms. They want a bigger pile of tax money so they can buy more votes to win elections so they can be in charge. Being in charge means giving nice things to the people, to get their votes, and spreading the wealth around, again so they can be in charge. Being in charge is the goal because they can get rid of all the annoying interference in their goal of a more perfect socialist world where everyone lives in peace and harmony in a world saved from the horrors of global warming and capitalism and guns. Or something like that.

They thought they had glimmers of a real move towards the glorious future with Hillary, and this obnoxious blowhard buffoon smashed it all up and they can’t wait to destroy him or impeach him or put him in prison. They still remain sure that if they can just turn over the right rock, they will find the Russian involvement — in something or other. Good Lord, they are predictable.

From The American Thinker by Thomas Lifson: “Trump tax plan goes for growth”

After President Obama’s two terms of anemic economic growth and huge federal deficits, there is a lot of room for growth in the American economy.  Targeting “seed corn taxes” that obstruct investment is the smart way to spike growth rates, which will bring jobs, increase taxes (in the long run), and swing political approval toward the GOP president and Congress.  It worked for Reagan, and it will work for Trump, if a version of the tax plan becomes law.

The White House briefing and one-page description of President Trump’s plan for tax reform issued yesterday contain the bones of an ambitious plan that could indeed jump-start the economy by lowering corporate income and capital gains tax rates, and by repatriating corporate money held overseas to avoid the punitive 35% levy on overseas profits when they are brought home to the USA.

From Economics21: “No, New York Times: Bush’s Tax Cuts Did Not Disappoint”

Basic economics tells us that if you tax something, you’ll get less of it. True, not all tax cuts are created equal. Successful tax reductions are immediate, permanent, broad-based, and (unlike tax rebates) rely on tax rate reductions to encourage working, saving, and investing. Such well-designed tax policies have a clear record of success.

Nobel Laureate Edward Prescott has shown that much of America’s widening economic advantage over other major economies between the 1970s and 1990s can be traced to America’s decision to lower tax rates while other countries raised them.

Harvard economist Martin Feldstein estimates that a dollar increase in taxes costs the economy 76 cents of growth.

Aside from the constant, furious Democrat insistence of being outraged at anything done by President Trump, they are predictable, predictable predictable. And possibly scared to death that he’ll get his tax plan passed.

Thanks to Obama, America’s corporate tax rate is the highest in the world. Growth has been anemic for 8 long years. A significant cut in the corporate tax rate could raise growth to 3% which is getting closer to the long-term norm —which would create jobs and put those folks who have essentially given up at the idea of working back in business. Hope and growth will do a lot for the country, and the American people.

ADDENDUM: Another contrast in media headlines — Wall Street JournalTrump Unveils Broad Tax-Cut Plan.” The New York Times Tax Overhaul Would Aid Wealthiest.” Like I said Predictable!



Just How Do You Measure “Better Off” Anyway? by The Elephant's Child



This Is A Map of Murders in the United States Of America by The Elephant's Child

I ran across a shocking map yesterday, a map of murders in the United States in 2014. Fifty-four percent of U.S. counties had no murders in 2014—none, zero. Two percent of counties have fifty-one percent of the murders.

The map comes to us from the Crime Prevention Research Center. 2014 is the most recent year where county-level breakdown is available. The United States can be divided up, they say. into three types of places: places where there are no murders, places where there are a few murders and places where there are a lot of murders. The worst 5% of counties contain 47% of the population and account for 68% of murders.

Murders used to be even more concentrated. From 1977 to 2000, on average 73% of counties had zero murders. They suggest that possibly this is related to the opioid epidemic’s spread to more rural areas. You can reach your own conclusions about the areas where murders are concentrated.

Other headlines: from CBS News“Chicago saw more 2016 murders than New York City and Los Angeles combined.” It was one of the most violent years in Chicago history with 762 homicides, and 1,100 more shooting incidents in 2016 than in 2015. New York had 334 homicides in 2016 and Los Angeles 294. Chicago has not only seen a spike in violence, but a spike in attacks on police as well. Chicago police superintendent Eddie Johnson said that anger at police has left criminals “emboldened” to commit violent crimes. It’s clearer to criminals that they have little to fear from the criminal justice system.

From The Daily Caller: “Baltimore is Begging Feds to Step In To Restore Law and Order.” Baltimore’s mayor asked the FBI to send in reinforcements to help the city to get it’s murders under control. “The city already has 101 murders for the year, a number not seen for almost 20 years” the mayor said.

On top of an over 30 percent increase in murders, the city is also experiencing a shortage in police officers. The city is operating with the lowest number of officers in about a decade — 2,500 police officers. Usually, the department has 2,900 officers.

From National Review: Heather MacDonald in an article at City Journal dismantles Hillary Clinton’s debate claims that the criminal justice system is infected with racism and that stop-and-frisk (which Trump has called for reviving) is unconstitutional and ineffective.” Andy McCarthy goes on to explain that the statistical overrepresentation of blacks in the prison population…is caused by patterns of offending. “Federal sentences (and sentences in most states) are computed under race-neutral guidelines that factor in both offense conduct and criminal history. The more crimes one commits, the heavier the sentence for any one crime. This is a recidivism thing, not a race thing.”

Across the pond, “knife crime has soared since Theresa May kerbed police use of stop and search, a tactic that activists condemn as “racist” but which senior officers insist saves black lives.

The year ending December 2016 saw 32,448 criminal offences involving a blade or other sharp weapon take place in Britain, a rise of 14 per cent from the previous year and the biggest knife crime total since 2011.

With five young men having been stabbed to death in London already this year, police warn that these are the first signs of a knife crime epidemic in major UK cities.

Lots to ponder in these articles. Which cities are being run by Democrats? Is the race situation better or worse as a result of former president Barack Obama’s policies? What about the “Black Lives Matter” movement? Heather MacDonald suggests that what has been called “the Ferguson Effect” is real and has caused police officers across the country to pull back a little, which has resulted in a rise in crime.  She reminds us that most police officers went into policing to protect the people from crime and violence, and care about  the people they serve. Her newest book The War on Cops is one of the most important books of the last year.

She was the target of silencing tactics two days in a row last week. The more serious incident took place at Claremont McKenna College at Claremont, California. A Facebook post from the “students of color at the Claremont Colleges

announced grandiosely that “as a community, we CANNOT and WILL NOT allow fascism to have a platform. We stand against all forms of oppression and we refuse to have Mac Donald speak.” A Facebook event titled “Shut Down Anti-Black Fascist Heather Mac Donald” and hosted by “Shut Down Anti-Black Fascists” encouraged students to protest the event because Mac Donald “condemns [the] Black Lives Matter movement,” “supports racist police officers,” and “supports increasing fascist ‘law and order.’”

Poor dumb kids. As Heather said “My supposed fascism consists in trying to give voice to the thousands of law-abiding minority residents of high-crime areas who support the police and are desperate for more law-enforcement protection.”  See Baltimore above. When the county statistics for 2016 become available, looks like the murder rate will climb once again. Spare a moment to honor the Policemen who have lost their lives this year trying to protect the American people. It should not be a thankless job.

 



The Least Diverse Place in America by The Elephant's Child

You have probably noticed, there have been enough riots and demonstrations to prevent the possibility of hearing someone with a differing opinion. They claim to champion diversity, but that’s a lie. They want everyone to hold the same leftist beliefs, and frankly be unaware that there are other ideas. They used to call it “brainwashing.”Does it only matter if it is your college student?




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