- Historically, America has had 4% growth and a large middle class. But our economy has been on its ass for so long, that many of the "millennials" don't know anything different, and have no idea what a healthy economy is supposed to look like. They are mistakenly accepting the "Obama new norm" of 1.9% economic growth!
- Bernie Sanders is talking about a 91% tax rate to "soak the rich in the name of justice", and all the leftie college kids say "yeah! yeah! " But what really happens is this: "Gucci Gulch" grows! Gucci Gulch are the lobbyists in the halls of congress that lobby for exemptions in their $10,000 suits for their clients. So the tax code winds up the first 4 pages laying out the rates, and the next 60,000 pages are the exemptions put in for the lobbyists. So, members of congress get rich from the lobbyists, the rich stay untouched, and you and I get forked!
- Government bureaucracies and Unions LIKE an economy that's on its ass! The welfare bureaucrats LOVE the mobs of clients and the power they have over them, and the Unions have more power when jobs are scarce! It's no accident that the most powerful unions are the Government employee unions!
- Side note: Martin Luther King's march on Washington in the early 1960's was to the AF of L CIO HQ because the Unions were keeping blacks out of jobs to preserve them for whites. When the economy grows, segregation and discrimination are undermined. If there are enough jobs for everyone, you don't have to worry about blacks taking white guy's jobs!
- If the government would cut the tax rate to 25%, the economy would explode! We'd create 40 million jobs very quickly. Do you realize there are trillions of dollars sitting offshore, just waiting for sanity to return to Washington? The funds would pour into the economy!
- Meanwhile, under Obama, Pfizer is moving to Ireland, and Ford is building a plant in Mexico and tens of thousands of jobs are being lost. Yet Obama says a corporate tax cut would be "only benefit the fat cats" (and the thousands of their employees!)
- There are other benefits:
- Government spending goes down because the welfare rolls shrink
- The size of government shrinks because the ambitious people leave for the more exciting private sector. Who the hell wants to put in 8 to 5 at the Bureau of Standards in Boulder when they can go to a hi tech startup across the street that pays twice as much and has stock options?
My own comment:
- It's only the risk-adverse academics who cling to tenure who snarl at the free market. They can't stand the fact that their students who go into the private sector get rich! The professors believe that "since I'm smarter than they are, I should be rich! So I'm going to do what I can do to punish them!"
All for now