F****** Idiot Politicians: Chief Obama economist says tax hikes on rich would boost economy View another article
 
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"President Obama’s chief economist on Thursday argued that increasing taxes on the wealthy would stimulate the economy.

Council of Economic Advisers Chairman Alan Krueger echoed Obama's 2012 campaign theme of defending the middle class against Wall Street, arguing income inequality is a "threat" to the economy."

"The evidence suggests a more fair distribution of income would stimulate economic growth," Krueger said.


Can you explain to me how the f*** this works? How does INCREASING taxes boost the economy, at all?
If taxes on the rich are increased, will I get a percentage of that, like a sales commission? No.
If taxes on the rich are increased, will anyone get a % of that? No.
Will welfare recipients' benefits increase if taxes on the rich are increased? No.
Federal workers, military, Social Security beneficiaries, anyone that gets a check from Uncle Sam: will these benefits increase if taxes on the rich are increased? No.
Will businesses hire more people if taxes on the rich are increased? No, clearly it will be the OPPOSITE.
Will the rich invest more in their own business, or in other companies, if their taxes are increased? No, clearly it will be the OPPOSITE.

Are we going to pay off our deficit by taxing the rich? HA ha ha! NO! You know what the Bush tax cuts for the rich "cost" every year?
$60 billion

You know what our deficit was last year?
$1.3 TRILLION, or $1300 billion

So the "cost" of the tax cuts is just 4.6% of the deficit, 95.4% of the deficit is OTHER STUFF. Even if we repealed the Bush tax cuts, our deficit would be $1.24 billion instead of $1.3 billion. Whoop dee doo.


In fact all that taxing the rich does is: MAKE THE RICH LESS RICH.

So what the f*** "evidence" are you talking about? There is no correlation between income inequality and the economy itself. How do we know this? Because we can track income inequality in other countries compared to their GDP:


You know who has much better income equality than the United States, with a inequality index of 45% (where 100% is the most unequal, 0% is the most equal):
North Korea, with an inequality index of 31%
Libya, with 36%
Bangladesh, with 33.2%
Cuba, with 30%. One of the best of the bunch!

So liberals are apparently trying to emulate those stellar economies. Clearly since Cuba and N.Korea have a much better "equality" index than the US, and their economies are much worse...there is no correlation between income equality and economy GDP. Plenty of other countries on the list have high INequality and low GDP, and US economy tops the countries of Europe even with our inequality. Why is that?

Because our rich have the freedom to be super-duper-rich, but those rich people (like Steve Jobs, Bill Gates, etc.) have given us millions of jobs, side-businesses, etc. Rich people create and invent new products/services, or manage companies well, or make good investments, etc. All these things grow the economy, NOT INCREASING TAXES.

Let's face it, liberals don't give a s*** about GDP at all. They only care about income equality and getting us as close as possible to Cuba/N. Korea.

If they DID care about GDP, they would not make ridiculous LIES such as increasing taxes helps the economy. It doesn't help the economy at all.

I mean, the guy quoted above is not some leftist college professor, he is Obama's CHIEF ECONOMIST!! And he's also a f****** idiot.

Topic How this article applies
Deficit (10)
Bush Tax Cuts (10)
Facts about Bush tax cuts (10)
Stimulus (4)
Bush v. Obama deficits (10)
Economy (10)
Obama (10)
He's a Leftist/Socialist (10)
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