Our president ridicules the Republican commitment to tax cuts, proving again how little he knows — or cares to know.
While on the tour of college campuses and late-night talk shows that serves as his campaign trail (despite seeming more appropriate for an aging rock band trying to make a few bucks off its past glory), President Barack Obama has been railing against tax cuts.
Not just criticizing tax cuts but ridiculing them. Since he knows that Americans generally prefer tax cuts to the tax hikes which he supports, he’s resorting to childish attacks on Republican policy as “tax cuts to help you lose a few extra pounds, tax cuts to improve your love live. It will improve anything according to them.”
From the “even a broken clock” files, Obama may be on to something here.
[Actually, that’s not fair to broken clocks, which are right 14 times a week, far more often than our president. To wit: President Obama doesn’t know how large our national debt is, is consoled because “a lot of it we owe it to ourselves” (as if a loan to a family member, much less a stranger, is any less of a loan just because the borrower is American) and thinks that “we don’t have to worry about it short term” (which to a politician means we don’t have to worry about it at all since he’ll be gone in a few months or a few years). And he still blames a video for the attack on our consulate in Benghazi despite nobody outside of the MSNBC studios believing such a literally incredible claim.]
Former Obama economic adviser Christina Romer authored a paper with her husband in which they argue that:
Looking at the charts in the Romers’ paper makes one wonder why any rational person would ever propose a tax increase. Did I mention that Christina Romer was Barack Obama’s top economic adviser for the first 20 months of his presidency?
While the Romers do not analyze the economic impact of tax cuts (perhaps not wanting to argue against their Democratic Party’s high-tax religion), it stands to reason that if the impact of tax hikes on economic growth and employment is large and dramatically negative, tax cuts should bring positive effects.
Though it seems obvious, Barack Obama doesn’t understand or doesn’t care that high taxes take our money away. To put it in terms even a Democrat can understand: “If tax rates are higher, those of us who work for a living end up with less money in our pockets.”
There is little doubt that Obama actually favors this outcome. Progressives believe government can do a better job spending your money than you can, and that they do not view economic growth or even employment as having greater value than gauzy, populist claptrap like “social justice” — code for buying the votes of the unproductive with the earnings of the productive.
Romer herself says that raising taxes on the “wealthy” (whatever that means to today’s Democrats) is a “straightforward, effective way to counter” income inequality, as if that is a proper or constitutional function of government.
So let’s get back to Obama’s petulant critiques of the Romney-Ryan proposals for initially revenue-neutral tax reform, implementing across-the-board tax rate cuts while limiting deductions and loopholes. (Even the tax-loving Christina Romer admits that “cutting back on deductions and loopholes…(is) preferable to raising marginal rates. After all, higher rates do have some disincentive effects.”)
For the employed: Whether you are fortunate enough to be able to make ends meet with one job, or whether you are one of the 6.6 million Americans who hold multiple jobs (a number that understates the many lower-income people who work unofficially in second jobs) or the millions of others who work extra, perhaps unpaid, hours just to make sure you keep your current employment, how would having more of your money remain in your pocket affect your life?
If you are now working during hours in which you might otherwise find a little time for a jog or bike ride, walking the dog, a trip to the gym, or just getting your tuchus out of your chair, then a tax cut — leaving more of your money in your pocket — could actually “help you lose a few extra pounds.”
More importantly, if you had more of your money in your bank account, you and your spouse would spend less time discussing, worrying, and perhaps even fighting about your finances. Multiple studies show that arguments about money correlate highly with divorce rates.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?