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Wilkow: Why Simply Taxing the Rich Does Not Solve the Problem

Nov. 10, 2012 10:11am Christopher Santarelli

California Governor Jerry Brown’s proposed plan to raise income taxes on the wealthy and raise the statewide sales tax to fund K-12 schools and help balance the state budget was passed by voters in a close vote Tuesday. According to the Associated Press, Proposition 30 increases the statewide sales tax by a quarter cent for four years, in addition to higher taxes for income-earners of over $250,000 a year. Democrats pledged to enact $6 billion in cuts to schools and colleges had the proposition failed.

Peter Schiff appeared on TheBlaze TV with Andrew Wilkow Friday to discus the negative effects of measures like Proposition 30.

“They can raise taxes on the rich,” Wilkow said of Proposition 30. “They can’t guarantee that the rich are going to stay in California.”

The discussion regarding raising taxes on upper income-earners as the solution for our economic woes is pertinent both in California and the national debate. With the looming fiscal cliff, the president responded Friday to Speaker of the House John Boehner’s opening of talks for a deal before the fiscal calamity, by pledging that he will not agree to any bargain that does not increase taxes for the rich.

Watch a clip from Friday’s show below:

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Comments (111)

bookerman
Posted on November 10, 2012 at 12:54pm
Hopefully this is a sign that Glenn Beck is going to allow Schiff back on his TV programs again, the man really has his finger on the pulse.

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- Gold Coin & Economic News
  Posted on November 10, 2012 at 4:32pm
  It’s spending, spending, spending but no one wants to talk about those things in any meaningful way. The spending going on in this country is criminal and it has basically destroyed us. Obama has spent more money that any other president in record numbers and all indications are that he is going to continue on that path. He has continued to bankrupt our country and he talks about being fiscally responsible. What a joke:
  https://www.youtube.com/watch?v=EL9RBtnT4G0
  
  Report this comment
- American Soldier (Separated)
  Posted on November 10, 2012 at 6:41pm
  The fundamental flaw in taxing the rich is that the rich are… well …. rich because they are business owners. What do business owners do when their faced with higher overhead? It gets translated to the consumer, or the employees or to both!
  
  Report this comment
- justangry
  Posted on November 10, 2012 at 6:45pm
  Schiff is an Austrian economist. I think GB and the Blaze are more concerned with having OTHER people start bombing. Can’t buy bombs without printing the money.
  
  Report this comment
michael from Ga.
Posted on November 10, 2012 at 12:48pm
Wilkow and Peter Schift are smart. The “System” is combining the “have nots, and the have a little”, together. Tax the rich = tax the have a little; that is where the wealth transfer is taking place. In 1Sam.8:7-19 it mentions TWO taxes-a double tax is bad Judgement. It is inflation/stealing from the people. The “System’s” objective is transitioning into Facism with redirection of wealth, and regulations. Fairness on the playing field, with the world is u g l y, but that is the price for “Rejecting the ….”.

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- AbrahamsSheepdog
  Posted on November 10, 2012 at 1:01pm
  Its moving foward. We need to realize this will get ugly but quickly
  . I pray we get the tast left to us done. He’s a Father who Loves I hold that hope to the End.
  
  Report this comment
soybomb315_II
Posted on November 10, 2012 at 12:27pm
Just for some perspective….In the past 4 years, federal spending has gone twice from the previous year. It’s just a start but we have to tighten the screws every chance we get

http://www.heritage.org/research/reports/2012/10/federal-spending-by-the-numbers-2012

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abinitio
Posted on November 10, 2012 at 12:22pm
Rational arguments don’t work anymore. Think of recipients of food stamps, disability, unemployment checks, etc as government workers – the opposing team. Their team is getting bigger and bigger and you will never stop them, unless they get private sector jobs. Nothing else will work. Look at Greece, Spain etc, they have to eat and live, whomever gives them money to do that will be supported, and whatever it takes they will vote for. When they no longer get food and rent money they riot. Without private sector jobs, that’s where we are headed. Don’t waste your time with intellectual arguments about taxes, sectors of the population (women, latinos) and all that nonsense. It’s all about food and a place to sleep. The clock is ticking.

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- AbrahamsSheepdog
  Posted on November 10, 2012 at 12:51pm
  Yes he is on spot. I starve to feed my dogs first. Cut every single pleasure and get a bashing almost baiting me to say something at work. From my own friends&bosses. Its like massive anger and loving it…fueling it. Its hostile Chaos. And Im an Independent. Minority. Seeing how people are suffering why my own lying eyes. Why is this so funny to the Left???
  
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braddock66
Posted on November 10, 2012 at 12:18pm
Peter schiff is awesome! I still think we need to tax everyone more Wealthy, middle class and less tax credits for the poor! Hold their feet to the fire on cuts.Identify the fraud and waste in the government. Spending cuts, lets start with a pay cut on all elected officials including BHO. Stiff penalties major jail time for anyone that defrauds the people’s money.

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- dimitrisokolov
  Posted on November 11, 2012 at 4:08pm
  We didn’t spend the money, Congress did so why should we pay more in taxes? The government doesn’t have a revenue problem it has a spending problem.
  
  Report this comment
BlackCrow
Posted on November 10, 2012 at 12:09pm
Taxing the rich will not fix the problem and they know it. What it will do is convince the 50% idiots to continue to vote for Communists and THAT is all they care about.

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- 22AUTOMATIC
  Posted on November 10, 2012 at 1:29pm
  Below is a sensational video warning to America about tax increases that Tony Robbins did prior to the election. It breaks down visually how little raising taxes does for the economy. Forward it to anyone who doesn’t understand the Laffer Curve and has a hard time understanding why big government has never worked in the history of mankind.
  
  http://youtu.be/TRaLytkf6vU
  
  Also, below is the “Laffer Curve.” Art Laffer worked for Ronald Reagan. Reagan was the greatest president of the past 100 years and 4th greatest President of all-time for a reason, he understood the Laffer Curve. It’s the policies of Reagan’s administration that launched the computer revolution and internet boom; Clinton came in inherited a booming American trend dispite the brief 1991 slowdown. Obama says “go back to the Clinton tax rates- they worked” which is dishonest. No Obamacare taxes in the 90′s, booming internet sales, the “Reagan Effect” and 12 years of Republican leadership 1980-1992 all benefited the 1990′s. What Obama doesn’t realize is that had Obama been president after Carter in 1980 instead of Reagan we would have been as bad as “Spain” in the 1990′s. (complete crash). See the Laffer Curve information below.
  
  http://www.conservativedailynews.com/2011/02/the-laffer-curve-of-slavery/
  
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- orangetom1999
  Posted on November 11, 2012 at 9:30am
  All this stuff about the Laffer Curve is nonsense. The premise is true but it is not describing conditions out here in American.
  
  Whenever you have a phony fiat money system…in which government can print or borrow monies unlimited….government creates conditions where the people..the working people soon become competition in the marketplace for goods and services. For government can now buy up everything and anything in the marketplace…before the working people.
  
  You cut back on the working people by removing monies from their decision making process through taxation. You must constantly take more and more taxes from working people as you increase the borrowing or printing in order to limit the competition in the only marketplace in existence out here.
  
  Taxing the rich is only giving you bad guys that government creates on the way to taxing everyone more and more ..to limit competition in the marketplace…competition from the people themselves as government buys up more and more to keep and maintain their power and control.
  
  What begins rapidly to disappear is the free market.. and liberty/freedom itself. When you have less and less discretionary ability over for what it is you labor…your freedom and liberty is being lost by degrees..until it is finally gone.
  
  It is the American people themselves who are rapidly becoming the competitors against an over reaching government.
  Raising taxes on everyone is how government keeps competition down in the marketplace
  
  Report this comment
- orangetom1999
  Posted on November 11, 2012 at 9:46am
  Blackcrow is correct…taxing the rich or everyone else will not fix the problem. It has been admitted that if government took everything from the rich they would only run the nation for a short time. The government is offering a “non solution” to a problem that they have themselves created.
  
  What is so disgusting is that so many people raised on a Jerry Springer television and movie mentalithy of good guys and bad guys are buying into it emotionally and without thinking it through.
  We are being maneuvered onto a puppet string by our own government.
  
  What is so astonishing to me is that the so called Conservative Republican party cannot possibly be so ignorant that they do not realize this is what is happening out here. This indicates to me that the Republican Party is in on the Taxation Scam…they are an important part of it. They are only Democrat Lite.
  
  Whenever government can borrow or print monies unlimited…they must continually tax monies away from the working people…in order to limit competition for goods and services out here in the only economy in existance. They must also tax to keep the monies from runnaway inflation and give it a value it would not hold on its own merits. The problem is that they are spending way to rapidly for the plans they have for the country. They must rapidly now ..increase taxes.
  
  Taxing the rich is only a good cop/ bad cop cover for more taxes on us all.
  
  Report this comment
- orangetom1999
  Posted on November 11, 2012 at 10:02am
  When the economic system becomes so decrepit and run down that the government must needs come in an be sure to tax babysitters and kids with lemonade stands…thinking people realize we are in a state of decline. There are not enough surpluses to keep the economy going if you must needs remove capital from circulation by going after these groups.
  
  Also …in keeping the corrupt system going ..none of the media including Fox and the Blaze offer this perspective…that we the people are competition for the government in the only marketplace in existence out here. That government ..in order to keep, maintain, and expand its power..must hold us back from enjoying the fruits of our labors in order to allow government more and more to default through at the expense of private business and industry.
  
  And this is exactly what you see happening across the board out here.
  
  Government is being reduced to a mob mentality in order to keep and maintain their power and control over the producing sector of the economy..and defaulting over to the non producing sector for votes and control.
  
  A world turned upside down.
  
  Remember…you are government’s competition for everything and anything in the economy.
  
  And Government is using and misusing the media, the courts, public education, and preying on the biases and insecurities of the people to accomplish this goal of controlling the economy.
  
  They must continue to divide us assunder to keep control. Good Cop/Bad Cop.
  
  Report this comment
Buddynoel
Posted on November 10, 2012 at 12:09pm
You are assuming half the country put any thought into this past election. Funny…

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- HKS
  Posted on November 10, 2012 at 12:25pm
  Socialist all over the world have always believed that they could suck enough blood from rich people to support their worthless existence. They keep trying to do it but it never works, rich folks aren’t that dumb, they just leave and take your job with them. That always ends the same way, Greece.
  
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- Valezka.Vidra
  Posted on November 12, 2012 at 1:04am
  No freaking kidding. I don’t know one person who did, besides myself. Of all the people I know, I’m the only one who researched the propositions on those california ballots.
  
  Report this comment
Tom70
Posted on November 10, 2012 at 11:54am
It makes the Mexicans happy. I agree that it wont do a hill a beans toward the National Debt and it is one more nail in the coffin of the Grand Old party of good old boys…. Tea party for 2014 we need a clean sweep.

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- AbrahamsSheepdog
  Posted on November 10, 2012 at 12:35pm
  Tea has the ball. Tea time for this Independent. Big Time Green Tea!!!
  
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ctlibertarian
Posted on November 10, 2012 at 11:42am
There is a very good reason to oppose any plan for raising taxes in exchange for spending cuts. Under every plan put forth by the Democrats, the tax increases go into effect immediately and the spending cuts are to take place in the future. From past experience we know that will never happen. How about this for all the out there. We cut spending by 3 dollars for each of the next three years to get one dollar of new taxes in some future year. Also, cuts must be real… must be an actual reduction in spending from that spent in the previous year. I know, that is unheard of in Washington where a spending cut is a cut from next years’s proposed spending which of course is not a spending cut at all.
And the President is partially right on one thing, we must have a balanced approach. Therefore, all of those who earn income (the 47% who do not pay taxes) must begin paying taxes before there is any talk of increasing taxes on the rich or middle class. We have too many people who are taking from the cookie jar and voting for more cookies, but they are not putting anything into the cookie jar. Until that changes, we are doomed. The takers will continue to vote for more and their numbers will continue to grow until there are no more cookies in the jar and the system collapses.

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- TomSawyer
  Posted on November 10, 2012 at 11:55am
  I agree with your ideas. But the Republicans will just lose politically if they oppose taxes on the rich at this time. If Romney won, it would be different. The Republicans need to prove to the American people that Obama’s ideas do not work in order to win future elections. This may sound wrong, but they need to let Obama have everything he is asking for and let him fail.
  
  Report this comment
- soybomb315_II
  Posted on November 10, 2012 at 12:03pm
  in my opinion, it does not appear republicans support real cuts to the budget. that is why they go along with the budget gimmicks. They are afraid of getting blamed for cutting people’s entitlements. It appears they would rather let the economy unravel and have Obama take the blame – than to try to reform the system.
  
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- wildbill_b
  Posted on November 10, 2012 at 12:08pm
  I hate seeing talking heads repeating the 47% don’t pay income tax line. First off, Federal income tax money goes to pay for welfare. They specifically tell you this is anyone bothered to actually read the relevant information. Read 42 U.S.C. 3535(k). The solution to the problem is glaringly simple. Stop spending on Unconstitutional programs. Social Security includes ALL WELFARE programs. That is because SS IS WELFARE. Anyone with a SS#, which there is no requirement for, is a government employee (5 U.S.C. 552 (a), Federal Personnel). All ‘federal personnel’ are taxable under the ‘public salary act’ of 1939. The current tax code is the 1939 code. Need proof? Read 26 U.S.C. 7851 (f). I never understand why people insist on reading the phrase Federal income tax incorrectly. It is a ‘tax’ ON ‘Federal income’. Federal income………..taxes
  
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- Ms.Independence
  Posted on November 10, 2012 at 12:31pm
  I agree. Give Obama everything he wants and see what happens (let him fail).
  
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- Deuteronomy22
  Posted on November 11, 2012 at 8:12am
  The 47% don’t pay taxes is a lie. Even the very poorest pay sales taxes, in most states as high as 10% of all there income. That’s almost as much as Romney paid last year and probably more than he usually pays.
  
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WeekendWarrior
Posted on November 10, 2012 at 11:40am
The problem with the example of the doctor raising his fees:
Most doctors cannot raise their fees. Their fees are defined by what Medicare, Medicaid and Insurance companies say they can charge. The free market system no longer applies to medical practices. So since they cannot raise their fees, they can only increase their income by working longer hours. How likely is that going to be, just to raise the money for higher taxes? More likely than not, doctors will cut back their hours and restrict patients that aren’t paying cash. Get ready for longer wait times.

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GoingBeck
Posted on November 10, 2012 at 11:19am
What’s the old saying “Tax the rich, feed the poor”? Now it’s become “Tax the rich, support the other half”.

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- LIBSALWAYSLIE
  Posted on November 10, 2012 at 11:35am
  The “rich” are not the ones who mismanaged the tax revenues, so why should they be punished for it?? The federal government went on a spending spree and spent WAY more than they took in, and they want to pass the responsibility onto others. Just imagine what would happen if you ran your personal finances they way the government does!!
  
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Fla.Patriot
Posted on November 10, 2012 at 11:16am
I know this is completely off topic, but I just saw on Drudge that Louisiana is petitioning the White House for Succession. Wonder who will be next? Texas maybe?

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- GoingBeck
  Posted on November 10, 2012 at 11:21am
  Arizona.
  
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- DADDYWOREAWHITEHAT
  Posted on November 10, 2012 at 11:32am
  Texas doesn’t need to ask permission from the White House. They have the right if they choose to secede.
  
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- Look4DBigPicture
  Posted on November 10, 2012 at 11:43am
  Every red state (especially those that would benefit from the Keystone Pipeline) should be talking about succession. We’ll operate on conservative principles and the remaining states can stay on their path of socialism. Which states will be thriving after 20 years? Red states of course. The blue states will look like Greece.
  
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- Go-rin-no-sho
  Posted on November 11, 2012 at 11:12am
  The scary things:
  #1 Why would you tell the President or anyone in the Federal government you want to secede when the President now has the legal right to detain you indefinitely under the NDAA and label you a terrorist
  #2 It would play out like a Civil War Re-enactment gone horribly wrong.
  
  Report this comment
PointBreak
Posted on November 10, 2012 at 11:11am
It’s time for a Tax Revolt. Seriously. We can all lovingly refer to it as ‘Going Galt’. There is no other way to stop this. They have become a marauding, violent band of bullies and looters. This has gotta stop. Fast.

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- DADDYWOREAWHITEHAT
  Posted on November 10, 2012 at 11:34am
  When you tax the rich there are suddenly a lot fewer rich people. You think deomoncraps are the only ones who can use fuzzy math when they need to?
  
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Advection
Posted on November 10, 2012 at 11:10am
Obama admitted it doesn’t solve any problems and in fact makes existing problems worse, and he demands it solely for “fairness”. THAT’S MARXISM IN A NUTSHELL.

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neverending
Posted on November 10, 2012 at 10:58am
Wanna tax the rich? Cool go for it but then make sure you tax the worthless lazy bums which is what will eventually happen because the rich will finally say – screw you guys and take their money and leave and I wouldn’t blame them one bit. Know many that will do just that.

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frednerk
Posted on November 10, 2012 at 10:54am
…People who value their privilages more than their principles ‘will soon lose both’ – (quote from Ike’)

‘I read that the smorning, so true………..

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TruthDetection
Posted on November 10, 2012 at 10:51am
Prop 30, before it was passed, was the potential final straw for me and my wife. I told her that if it passed, we would be leaving California. She agreed. We are now headed to Virginia (family there) to look at real estate, Idaho, Texas, and Arizona. I employ 400 people here in southern Cal and I am done with this idiotic, dysfunctional train wreck. And if you think it’s bad now….

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- Hidethez
  Posted on November 10, 2012 at 11:13am
  I’m from Idaho, it’s great! Check out Boise and central Idaho. Texas, while I don’t think very pretty, except maybe Austin which the libs have taken over, is full of amazing, independent people! My husband and I now live in southern CO and I’m comforted by the fact that the only thing between us and Texas, should they secede, is a think strip of OK. Viva la Texas! Or something like that….
  
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- 3Tesla
  Posted on November 10, 2012 at 11:34am
  Colorado used to be a solid red state — now that the Californicators in particular have come — we have legal weed- a gay speaker of the house– and a couple of million illegals. Now -I like you – am leaving – where is the problem — as the progressive virus spreads faster than the 1918 Flu.
  
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- WatchOutFOOL
  Posted on November 10, 2012 at 12:16pm
  Come to Texas, we need more people here that espouse fiscal conservative and moral values. If we dont keep a flow of decent outsiders, we will get the communists from other states and eventually we will be blue, like what happened to colorado. I pray that never happens, i love living in Texas, i have tried other places, and this is the best state to live in, have a business in and raise your family in by far. IMO
  
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- AHarst
  Posted on November 11, 2012 at 8:05am
  Come to Wisconsin – we’re open for business! Gov. Scott Walker is in charge here!
  
  Report this comment
- sonsofliberty
  Posted on November 11, 2012 at 10:15am
  @THRUTHDETECTION
  
  You might want to check this out…I have been seriously considering the move. I have to wait another 10 years before I can retire, but I am starting to plan now.
  
  http://freestateproject.org/
  
  Report this comment
AJAYW
Posted on November 10, 2012 at 10:47am
Tell you how this will play out- They will raise taxes on what they call rich, then that won’t be enough and they will come back and say they need to raise taxes on all those that are working – Its Only Fair You Have A Job. Lets see how it goes then.

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- DADDYWOREAWHITEHAT
  Posted on November 10, 2012 at 11:39am
  Watch the rhetoric because it sounds so much better to say have/have not then actually admitting they really mean work/work not.
  
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Tregonsee
Posted on November 10, 2012 at 10:39am
In the state of Tennessee, California is the 5th largest source of immigrants. (There are many factors, such as source state size, distance, etc ton consider.) Some come here with their company, such as Nissan. Others to escape the upcoming crash. However, escaping Federal taxes and lawlessness is somewhat harder.

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marybethelizabeth
Posted on November 10, 2012 at 10:32am
Nobody is claiming additional tax revenue will eliminate economic problems.

It is only part of the solution. It’s only part of the equation.

The argument that since it won’t solve every single problem the idea of raising taxes should be abandoned shows how dumb republicanism really is.

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- ResistSocialism
  Posted on November 10, 2012 at 10:40am
  Perhaps not ******* away trillions of dollars with nothing to show for it is part of the ‘equation’.
  
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- zjak
  Posted on November 10, 2012 at 10:58am
  Give me one single case study that shows raising taxes cures budget woes? There’s none, I can show you more than a dozen that shows otherwise, can I start with Michigan? Raised taxes on the rich and revenue actually fell, even with spending cuts. It doesn’t work, it will never work.
  
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- soybomb315_II
  Posted on November 10, 2012 at 10:59am
  the problem with ‘republicanism’ is that they focus so much on taxes. But the true cost of government is spending. Taxes are just the symptom.
  
  Taxes are pretty much irrelevant. Government spending will either be paid for by taxes or debt – and i would rather have taxes in order to save my children. Republicans like to pretend that increasing the size of government can be paid through growth of the economy – but that is usually not the case.
  
  Report this comment
- Politijack
  Posted on November 10, 2012 at 11:39am
  LoL.”Republicanism”
  
  So..ya dont like Representative government…perhaps Dictatorship is more to your likeing?.Or just full on Democracy were 50.1% of the electorate dominates the other 49.9%…thats called mob rule by the way.
  
  You lefties will never learn..you cant tax your way to prosperity.And raising taxes when the economy is in the toilet is ALWAYS a bad idea.But because you all are stuck on this “the government must provide all needs” ideal thinking you are burying the free market in regulation and taxation.Once again we have to point out to you that the “Rich” will just go somewere else if taxes are too high.And of course they take the buisness,jobs and income with them when they go.
  
  In a way im kinda relieved that Obamunism continues in this country because now the left OWNS this economy.Now we are approaching a very real high probability of an economic collapse and the press is not going to be able to hold on to this deception of “all is fine” when Americans start seeing prices skyrocket long with the unemployment rate.Im pretty confident that after 4 more yeas of this fail leadership we have in power now,the Americal people are going to be completely done with The left for many,many years to come.Its all part of the cycle of American politics really…
  
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progressiveslayer
Posted on November 10, 2012 at 10:29am
Obama care is a tax on everyone except OBAMAZOMBIES,they pay nothing they simply receive and soaking the evil ‘rich’ will accomplish one thing,it will satisfy Barry’s simpleton uneducated base that the ‘one’ is looking out for you the ‘little guy’. He’s making sure the evil ‘rich’ are paying their fair share even though they pay the majority of taxes already the zombies think uh hmm that they’re just not paying enough and Barry will get it from them. I’d like to see every business in this country close up shop and let’s get this party started,it’s going to implode anyway so why prolong it?

Barry wants to raise rates so do it do everything and let’s show the simpletons what happens when you have a lunatic collectivist modeling our system after N.Korea’s.

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- marybethelizabeth
  Posted on November 10, 2012 at 10:36am
  insult, insult, commie, commie, insult.
  Is that a summary of you argument?
  
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- progressiveslayer
  Posted on November 10, 2012 at 10:58am
  I understand you don’t understand what I’m saying. Simply raising taxes won’t solve anything and the so called ‘affordable health care law’ when fully implemented will prove me correct that we’ll see millions of jobs lost due to it’s draconian provisions. Employers will simply let people go because they won’t be able to afford all that ‘affordable health care’. The laffer curve proves that there’s diminishing return on raising tax rates but like I said Barry engages in class warfare to pander to his mindless base so we’ll have a depression due to this law alone,not counting all the other idiotic things this regime has done.
  
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- Pantloadian
  Posted on November 10, 2012 at 11:05am
  PRONGWAXER . . .OK then, how about $10 in spending cuts for every $1 in tax increases?
  
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- progressiveslayer
  Posted on November 10, 2012 at 11:21am
  PANTLOAD Ah yes a glimmer of rationality from the loader,we could hope for that but bend over Boehner will raise taxes because taxmageddon is going to happen. The largest tax increase in American history on Jan 1 unless the intellectual titans in congress come to their senses,don’t hold your breath the tax man cometh. It’s the progressives wet dream to see this much tax increase and it will accomplish one thing,massive job loss. But hey when you’re making everyone equal we just have to go through these bumps in the road huh?
  
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- DADDYWOREAWHITEHAT
  Posted on November 10, 2012 at 11:50am
  @progressiveslayer you have a valid point with the inevitable. I know all the small businesses I work with have struggled the past 4 years just to keep the doors open & people employed. They have sacrificed & worked harder for less in hopes that it would get better if they held out. That hope is now gone & most don’t know if they are willing to pay to keep the economy afloat for another 4 years working for nothing. We are not going to keep it up especially when the thief N chief takes credit for all our hard work to keep economy afloat.
  
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- Git-R-Done
  Posted on November 11, 2012 at 11:20pm
  No deal, pantcrapper. Cutting spending with zero tax increases. That’s how those of us in the real world have to do it. So should the government.
  
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RANGER1965
Posted on November 10, 2012 at 10:26am
“I have never understood why it is ‘greed’ to want to keep the money you’ve earned,
but not greed to want to take somebody else’s money.”

- Thomas Sowell

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- progressiveslayer
  Posted on November 10, 2012 at 10:30am
  I’ve always loved the Dr. he’s an economic titan.
  
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- Jack76
  Posted on November 10, 2012 at 10:48am
  Too bad Dr. Sowell’s words are wasted on so many who fail to grasp or refuse to grasp the real economic issues.
  
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- momrules
  Posted on November 10, 2012 at 10:50am
  Thomas Sowell is one of my husband’s favorites and he introduced him to me.
  
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- limalima
  Posted on November 10, 2012 at 11:16am
  Me neither.
  
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soybomb315_II
Posted on November 10, 2012 at 10:23am
taxes go up and taxes go down. But government spending almost always goes up. So if you have an opportunity to cut spending – you should take a deal that gives you more spending cuts than tax increase.

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- marybethelizabeth
  Posted on November 10, 2012 at 10:34am
  which is what the President has been saying for two years.
  
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- soybomb315_II
  Posted on November 10, 2012 at 10:55am
  well i dont know if that is what has been said for two years but unless the republicans get super-majorities, they cant expect to get 100% of what they want. They should focus on articulating their case to the american people and negotiate from there. I would be thrilled if they cut $3 bucks from the 2013 budget for every dollar of tax increase.
  
  Republicans could also flatten the tax base – this is something Obama and the democrats also support. We should move away from loopholes/deductions and just have plain tax rates
  
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- RJJinGadsden
  Posted on November 10, 2012 at 11:03am
  BARYMETHELIZABETH, Yeah, you are right. 0bama has been saying that….from only one side of his mouth. Now, tell us what have his hands been doing? Certainly not signing any bills that reduce spending. Nor has he produced any bills to the congress that would reduce spending. You keep on being the fool who believes what you say.
  
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- Pantloadian
  Posted on November 10, 2012 at 11:07am
  SOY . . . . Don’t expect that kind of reasonableness fro Republicans, who wouldn’t take $10 in cuts for every $1 tax increase. But they love America! Yessirree.
  
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- jonreadsitall
  Posted on November 10, 2012 at 11:08am
  Taxes go up. Taxes do not go down. They are renamed, repackaged, re-marketed. It’s a shell game. The portion of my income that has been going to the govt. has been steadily increasing my entire life.
  
  @ MBE: His mouth is moving and noises are coming out, but spending is increasing. Actions speak louder and more truthfully than words. Why then should we care what he says?
  
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- MeCpl13
  Posted on November 10, 2012 at 11:22am
  MaryElizabeth, what the President SAYS and what he DOES are two different things. He could have been putting his money where his mouth is, so to speak, and been cutting spending all this time. Instead he doubled the deficit. Spending is through the roof. I don’t trust the man, or his administration, PERIOD. They lie. They blame others. They are irresponsible.
  
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- grayling646
  Posted on November 10, 2012 at 8:41pm
  Ummm, didn’t H W Bush try that, Soy?
  
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- Git-R-Done
  Posted on November 11, 2012 at 11:21pm
  Pantcrapper – Since when have you Marxists ever been reasonable? A reasonable person cuts expenses.
  
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ChiefGeorge
Posted on November 10, 2012 at 10:21am
Peter Schiff Was and Is RIGHT! Spot as as usual! Wish I would have heeded his advice back in the run up to the housing debacle.

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- soybomb315_II
  Posted on November 10, 2012 at 10:34am
  you know schiff is a ron paul guy, right?
  
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- flipper1073
  Posted on November 10, 2012 at 11:53am
  Soy
  Not many of Us Conservatives disagree with Ron
  on Economics It’s the other stuff that turns us away.
  an I’m not talking Military Spending.
  Bring Our Military Home an by the Way Stop Spending
  $300 on Hammers an $600 on Toilet Seats.
  GO TO HOME DEPOT !
  I’m All for HUGE Spending Cuts.
  An total Elimination of Dept’s of Government
  Tax Cuts or Raises Won’t Do a Damn Thing.
  Unless an Untill They Cut Spending.
  An Neither Party really wants to do That.
  Spending is what gives them POWER.
  Obama spent a Trillion Dollars on a Stimulus Bill.
  That did NOTHING.
  The Republicans spent that much or More
  Blowing the Crap out of Iraq then turning around
  an Rebuilding it.
  Both sides do STUPID stuff an WE Pay for it.
  or at least we put it on our Children an Grandchildren’s
  Credit Card !
  which very soon we will not be able to pay the Interest on.
  In other Words Bankrupt an in Default
  That’s going to work out so well for EVERYONE .
  
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- soybomb315_II
  Posted on November 10, 2012 at 11:57am
  i could be wrong but i’m pretty sure Chiefgeorge has called Ron Paul a lunatic and a nut in the past
  
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AJAYW
Posted on November 10, 2012 at 10:17am
other peoples money is easy to spends

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