Say Anything Blog

Rob: Great article!  It is always good to point out the hypocrisy of Dem economic policy, and you have done an excellent job with this post.  BTW, the entire justification of the “tax cuts for the rich” meme was the reduction of the capital gains tax.
Since income tax is a penalty for generating income, it should be minimized for the benefit of all citizens.

The only legitimate role of government with regard to economics is to prevent fraud and provide a remedy- civil and criminal penalties- in case of fraud.

People have the mistaken notion that the free market has no rules.  But it most certainly does.  All our problems are due to government meddling.

Republicans will remain in reality by pointing out that we’ve been calling for these things all along.

The Democrats will be busy crafting a new operative truth. “The rich” will now magically become the middle class. The “middle class squeeze” will become a middle class prosperity. The numbers and the reality of the situation won’t change much to warrent such a difference of rhetoric, but that doesn’t matter.

Get ready for a massive rewrite of both this country’s problems and prosperity.

Get ready for a massive rewrite of both this country’s problems and prosperity.

I expect good news from Iraq and on the economy, starting in January, as if by magic.

The only legitimate role of government with regard to economics is to prevent fraud and provide a remedy- civil and criminal penalties- in case of fraud.

People have the mistaken notion that the free market has no rules.  But it most certainly does.  All our problems are due to government meddling.

Wait a minute...rising income?  For the middle class?

Nominal wages are rising, and that’s why the AMT is capturing more middle class taxpayers.  That nominal income is rising doesn’t necessarily mean that real income is rising.  Given that you’re a republican, though, I shouldn’t have expected you to understand the fundamentals of economics.  Ah well.

Total rewrite and continuing obfuscation of the economy. jpe makes the point precisely.

Una Salus Victus Nullam Sperare Salutem

That nominal income is rising doesn’t necessarily mean that real income is rising.

Americans are moving up in the tax brackets, and you’re trying to convince me that we’re not making more money.

And you say I don’t understand economics.

“Real wages” isn’t the number you should be looking at, by the way.  Total compensation includes benefits too, and that level has been rising.

Why don’t you get a clue, jpe.

When the people fear their government, there is tyranny; when the government fears the people, there is liberty.

-- Thomas Jefferson

Rob’s recently listened-to songs:

People are making more money because of a thing called inflation, not because their real wages (which takes into account) have skyrocketed.

I keep hearing about these poor souls who make $200k/yr that get a huge stock option and then their plethora of tax deductions don’t work on the AMT.  Darn, I can’t subsidize their kids anymore!

The AMT is as close to a flat tax as we can get.  I say leave it be and deal with not being able to deduct the following after you reach a certain income level:
Interest on Second Mortgages
Miscellaneous Itemized Deductions
Incentive Stock Options
Long-Term Capital Gains
Tax-Exempt Interest
Tax Shelters

People are making more money because of a thing called inflation,

And how will raising the minimum wage by more that 20% help this problem?  By increasing to cost of labor, thereby leading to even more inflation?

People are making more money because of a thing called inflation, not because their real wages (which takes into account) have skyrocketed.

Where were you during the Carter administration, when we had double-digit inflation and double-digit interest rates?  We survived that, and lowered tax rates restored prosperity.
No one has made the claim that wages are “skyrocketing”, btw.  You just made that straw man up all by yourself.  Total compensation is far greater than inflation, which means that we are getting wealthier.  Duh.

The only legitimate role of government with regard to economics is to prevent fraud and provide a remedy- civil and criminal penalties- in case of fraud.

People have the mistaken notion that the free market has no rules.  But it most certainly does.  All our problems are due to government meddling.