Liberty Central
Follow Liberty Central
Posts Tagged ‘Economics’
“Soak the Rich” Equals Weakened Economic Performance
Economist Arthur Laffer takes on proposals to raise taxes for higher income earners by pointing out that states that tax the rich heavily weaken their economic performance. Laffer is discussing a plan to add a personal income tax to the state of Washington, but its principles apply everywhere. As liberals fight about...
Boehner calls for firing of Geithner, Summers
House Minority Leader John Boehner (R-OH) today called on the Obama Administration to remove Treasury Secretary Timothy Geithner and Economic Adviser Larry Summers. During a speech laying out an economic agenda for the GOP, Boehner said that Geithner and Summers have spent the last 19 months promoting ‘government as community organizer’ and...
The Consequences of allowing the Bush Tax Cuts to lapse
The Bush Tax Cuts have become a hot political issue, with many liberals simply wanting to let them expire while conservatives want to make them permanent. Liberals are claiming that letting the tax cuts expire will help to close our deficits, while conservatives and economists point out that this simply...
Soak the Rich Catch 22
Economist Arthur Laffer writes in today’s Wall Street Journal that higher taxes on the rich, which are inevitable with the projected Obama tax increases, and other fees levied by the Obama administration, inevitably lead to higher unemployment, poverty, and lower incomes – all of which lead to more government spending....
CBO tells Congress the deficit is unsustainable
The Congressional Budget Office informed Congress this week that the growing budget deficits will cause debt to rise to unsupportable levels, eventually reaching an undetermined tipping point that will cause another financial crisis. As of now, federal debt stands at 62% of GDP. The last time it exceeded 50% was...
Democrats continue free spending ways, even in face of daunting deficits
Speaker Nancy Pelosi continues to follow the Democratic Party’s line that government spending will help to stimulate the economy: Pelosi said that increasing unemployment benefits is one the best ways to stimulate the economy and create jobs. In an election year where the economy and fiscal issues are the top...