An article caught my eye as Pennsylvania’s new governor has floated another idea for a new tax. He’d like to tax lottery winnings. The Feds already tax the winnings, but apparently the state wants their piece also. This is not an anti-tax post, but part of the newspaper article stunned me (see photograph).
Here we have a 40-something woman who claims to purchase $300.00 worth of lottery tickets every week. Okay let me repeat that…she spends $3oo every freaking week to buy a chance to win big bucks and she seems to be driven by the fact that she won $2,500 a few years ago. So she spends over $15,000 a year to win $2,500 every couple of years. My God do we need to teach economics in our schools though it’s obviously far too late for this lady.
The media, at least those on the right, are voraciously digging into The Gruber and his wagging tongue. As you may know a case will be heard in the U.S.Supreme Court regarding whether the government can offer subsidies from health insurance exchanges set up by the federal government. These subsidies are the backbone of Obamacare. There’s just one thing in the way. Well there are many things, but this one seems to finally have traction. The Act specifically states that only exchanges set up by states can offer subsidies.
How many of you just let obnoxious, misleading (i.e. lies, falsehoods), arrogant comments just slide by when uttered by the left? In the interest of peace and not starting an argument most of us let things slide. We are not by nature confrontational. In essence we are the “sleeping giant.” We are MAINSTREAM AMERICA and we are generally silent with our beliefs.
I was shampooing my hair this morning and forgot how to do it so as luck would have it my bottle had directions. The only problem is that I got stuck in a loop of lather, rinse, repeat…lather, rinse, repeat…lather, rinse, repeat…. (you get the picture). There is nothing on the directions about when to stop. So I start thinking that since this seems to be happening with Obama’s economic policy maybe he lost the last page of his economic book and just doesn’t know where to stop. I eventually ran out of shampoo and had to stop, but he has no “bottle” to empty. When he runs out of our money, he just prints/borrows more. Like my suds our money seems to be going down the drain.
“He’s like a man who took two dates to the prom and is trying to keep them both happy. He may not pull it off, but he is dancing as fast as he can.”
– – Brit Hume
Mr. Hume of course was discussing President Obama as he continues to wiggle to be all things to all people while refusing to lead on important issues as a world leader should. Obama has become the quintessential politician whose sole goal seems to be getting reelected. As of this writing and reported in The American Thinker, Obama has made 31 fundraising trips so far in 2011. This is above and beyond the numerous rounds of golf.
Arthur Amolpid got out of high school in 1950. While his grades weren’t that great his job prospects were even worse. Art, however, was an entrepreneur before the term was commonly used and looked for a way to make it on his own. Fortunately his folks didn’t mind that he stayed with them while he pursued his dream. He just needed to figure out what that dream was. His parents were not that well to do and lived within their modest means, but Arthur felt comfortable with the wealthy and frequently socialized with the more affluent crowd.
Many times as I read an article I find a few sentences that capture the essence of the piece. In “Phrase-e-ology” I’ll post some thought followed by key phrases. As always I’ll have a link (in blue) to the original article.
The latest episode of Phrase-e-ology is from the business section and was startling in that it seems to bemaking the case for the sluggish recovery as the “new normal” rather than the direct result of bad economic policy from the Obama White House. As if this is now how we should expect recoveries to unfold. Even as Obama’s economic advisers abandon his ship for academia (they’re much better at theory than reality) the “new normal” may actually be some sub-standard level that he can actually achieve…as long as he can fool the electorate that they are doing better…
It is often interesting to look at the ease with which non-incumbent candidates can point to the incumbent’s record and critique their performance and bloviate about what they would do in similar situations. It is hard to prevent such a successful strategy and we have learned with the current resident of the White House that a blank slate can be a powerful tool when combined with a thorough lack of inspection of a candidate’s qualifications by both the main stream media and many of the voters.
I love Milton Freidman. Economics can be rather dry so when I came across a series of videos of Friedman on common economic subjects I first enjoyed them and decided to share them with you. In one of these videos, Mr. Friedman compares a myth to an air mattress, full of nothing, but comfortable, and jarring when deflated.
The first is one that I posted a couple of years ago during features Friedman in an interview with Phil Donohue:
This one is about the myth of The Free Lunch or how taxes on corporations are really taxes on people:
I have read the works of many great economists and the better ones have the innate ability to frame complex economic theories into words and images that are easily understandable. On the other hand (a favorite economist phrase) perhaps all other economists make easy theories sound complicated. Either way a favorite of mine is Milton Friedman. Mr. Friedman has a quality that makes economics simple, practical, perhaps even fun. Yes I said fun.