Morning Round Up
Friday, March 4th, 2011Let’s start with a cartoon by John Cox
The US Tax code is a Byzantine maze that Rube Goldberg would claim is too complex. As I said before…
One of good ideas of the President’s deficit reduction panel was to drastically simplify the tax code and reduce the highest tax rate to 25%. That will reduce the 30% plus overhead of the IRS and get uber-rich democrats, like my senior Senator, to actually pay their fair share of the taxes paid by almost every other working American.
Don’t expect democrats to embrace this idea though. It goes against their core values, like waging class warfare.
Speaking of taxes and the economy, let’s review this bit of news…
Former Federal Reserve Chairman Alan Greenspan said a surge in U.S. government “activism,” including fiscal stimulus, housing subsidies and new regulations, is holding back the economic recovery.
Wait! It gets better as Mr. Greenspan puts yet another nail in the coffin of Keynesianism.
“Any withdrawal of action to allow the economy to heal could restore some, or much, of the dynamic of the pre-crisis decade, without its imbalances.”
Not that this will slow down the big government fanatics in our Dear Leader‘s administration.
Speaking of which, it’s time to play “Fear the Boom and Bust” again!
Moving on, I’m am not surprised that democrat Sheila Jackson Lee is a really, really bad boss and would be brought up on harassment charges in the private sector.