TOPIC: In Case You Missed This

I have been following Art Laffer since his famous curve in the 1970's.  Simply put, it is below.  It says that there is a point where taxes benefit the gubment the most and damage society the least.  After that point both are damaged.

Art Laffer's Wall Street Journal article of June 6 (the anniversary of D-Day...) may be something most people missed.

I didn't.  In fact, it is about time someone said this.  Nobody, and that is NOBODY, is talking about the sunsetting Bush tax cuts - on either side of the political spectrum.

Here is the article.  Read it!!    online.wsj.com/article/SB100014240527487...264513748386610.html

This is NOT a political thing!  This is a common-sense-economics thing.  Despite all the rhetoric of "no increase in taxes" for 95% of taxpayers by this "administration," there have already been huge tax increases.  Each new regulation, each new "stimulus," the so-called "health" care bill, the coming Cap and Tax bill (it will be resurrected and then shoved down our throats with a new, more sexy name), and other such programs - these are all tax increases!  This all needs money.  It will cause more debt.

Ultimately, this money can only come from one source (you and me) and can only cause one thing - inflation, high interest and economic decline.  Which is the subject of today's Laffer article.  Welcome back Mr. Carter!

online.wsj.com/article/SB124458888993599879.html

And when the Bush tax cuts expire, this year, that will be a huge tax increase on all!  When those go other things go as well - the depreciation benefits, capital growth stimulation, beneficial tax bracket changes, the death tax dissolution - all that gets piled back on again.  And at just the wrong time!  Hence Laffer's phrase in the article, "the economy will collapse in 2011."

We are looking at Mr. Carter's second administration, thankfully postponed from history by Ronald Reagan, but VERY unfortunately resurrected in 2008.

The debt created in the last year and a half is already growing faster than we can pay it.  Gee, that's a good sign isn't it.  Our grand kids will look back on this era and cringe.  They will be the "benefactors!"  Greece, here we come!  Can November come fast enough?

We learn from history that we learn nothing from history.  Where have I heard that before?

activerain.com/blogsview/775031/this-time-it-will-work

Note the date on that little prescient blog!