Money and Politics

MONEY AND POLITICS.
When the newspapers and the radio shows are full of information on government intervention, you need to sit back and really consider the intent of the people in charge.
Ralph R. Reiland in the IBD said: "Bottom line, Obama is saying we'll get more jobs by way of less oil, less gas, fewer jets, fewer home sales and lower levels of charitable giving."
And then one of my favorite financial experts (one I'd make Secretary of the Treasury), Lawrence Kudlow intimated that the President won't tell us the details of his tax and spend plan . . . "but one things for sure: This new Buffett tax is a penalty on investment, risk-taking and job creation." It was good to see this week that Mr. Buffett disassociated himself from this new "Buffett" rule. Maybe there's hope for him yet.
Mr. Ludlow went on to state what seems obvious to any right thinking person: " . . . the evidence is absolutely clear that a lower capital-gains tax produces huge gains in revenues. Raising the capital-gains tax lowers revenues." I've written extensively on this in one of my "PATRIOT ESSAYS." We live in dynamic ways. Nothing is static. There is always the aspect of unintended consequences. People adjust, adapt and improvise---always looking out for their own best interest. Wouldn't it be wise to have a government that realizes that and figures out a way to get out of the way to let people's best interests direct their efforts to bettering the whole society? I have a lot more on this topic. Later.
And last comment from Mr. Kudlow. He was writing about how Mr. Reagan was so overwhelmingly re-elected. "Why? Because low tax rates reignited the economic growth and job creation."
I add once again, We need broad-based, permanent tax cuts and to shrink the size of government. We don't need temporary, targeted tax manipulations and more government spending.
Your comments please.
Wade