Monday, August 3, 2009

Crackpot Economics

Great editorial in the WSJ today about the Free Money Program offered by Congress.

I'm not going to comment too much on how Obama promised no new taxes for those making less than $250K but now appears to have changed course. If you believed him when you voted for him...and believed him when he dumped trillion of dollars into our banks reserves...and gave everyone car allowances...then you are stupid, and your stupidity should be taxed accordingly. The rest of us have been bracing for this tax hike for the last 8 months.

I wonder if one day the poems may go "First they taxed the people making over $250,000, but I didn't say anything, because I didn't make that much. Then they taxed the people making over $125,000, but I didn't say anything then either, because I didn't make that much. Then they taxed me, but there was no one left to speak."

1 comment:

  1. Three thoughts:

    1) This can easily cause a W shaped recovery. These bailouts, starting with the Bush bailout of banks last year, will prolong our agony. Hope people stored up their acorns for winter.

    2) Hasn't anyone noticed the incredible tax and BGE bills for the past couple of years? How long can we sustain property tax, local and MD tax at these rates? Again, store up the goods, bad times aren't over by a long shot. These so called jobs we're supposed to see from BRAC are actually VA communters who'll commute a total 2 days weekly and even then it'll be by taxpayer provided busses simply adding traffic with no benefit.

    3) If they'd given consumers the money in the first place instead of a bunch of drunken AIG execs and partyers, we'd have paid off houses thus bailing out the banks, we'd have purchased goods, bailing out the econonmy.

    Come on people. These "representatives" need to loose their jobs in 2010.

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