Archives for: June 2011, 20
This mining town of 300 people clings like a burr to the back of the Black Rock Desert. For years, it was marked on state Highway 447 by a two-story sign reading, "Welcome to Nowhere."
On June 20, that tongue-in-cheek greeting will become a fact. Empire, Nev., will transform into a ghost town. An eight-foot chain-link fence crowned with barbed wire will seal off the 136-acre plot. Even the local ZIP Code, 89405, will be discontinued.
My friend T.Paine disagreed with Burr Deming's wry summary of an article Mr. Paine wrote:
Not sure how you came up with that one, sir. Bush did nearly everything wrong economically. Obama came in and did many of the same exact things, on steroids. Both are fools when it comes to getting the economy out of recession.
The only thing Bush did right initially was to cut taxes after 9/11 to try to get things moving again. That part was working.
I am going to have to agree with T. Paine on this one. Cutting the wealthy man's taxes, does allow him to purchase those things he has been itching to purchase. Moreover, once he got the tax cut, he immediately pulled 50 million out of stocks and hired people with it, so that is how the unemployment situation was solved.
As for getting the economy moving again, by borrowing huge sums of money and forwarding it to the wealthiest of Americans, not only was the deficit crises eased, but so was the financial crunch on our nation’s wealthy producers. This allowed them to buy more stocks and temporarily cause an artificial spike in the market, which is, but one proof of our nation’s Republican Congress sponsored recovery.
I would not have believed it if the ultra-liberal Larry David, a very rich man himself, had not explained it to me. He rejoiced in the Bush tax cut when it was extended last December.
To begin with, I was planning a trip to Cabo with my kids for Christmas vacation. We were going to fly coach, but now with the money I’m saving in taxes, I’m going to splurge and bump myself up to first class. First class! Somebody told me they serve warm nuts up there, and call you “mister.” I might not get off the plane!
Going from coach to first class is only one of the many benefits he contemplates. Apparently he likes blueberries with his breakfast as well.
So, you see, Mr. T. Paine, the Bush Tax Cuts Part I and the Bush Tax Cuts Part II are the reason the economy is now fixed.
Had we just divided the money paid in tax cuts to every American equally, it would have all been spent and put back into the economy, which is to say, wasted. Had we used those funds to repair our failing infrastructure, we would have hired people and purchased supplies, thus putting both cash and jobs back into the economy. People may not have lost their homes. People would have been temporarily rescued from personal disaster and confidence of the ordinary citizen would have been somewhat restored.
However, Larry David would not have got his blueberries and the stock market would not have been propped up with increased artificial value, and the American economy would have failed as a result.