Today is Ronald Reagan's birthday. There is a fitting tribute to him here




SOME ECONOMICS

Ireland leads the way: "European nations have been lowering corporate-tax rates as they compete for foreign investment, pressuring the U.S. for similar cuts, the Wall Street Journal said, citing John Breaux, a former Democratic senator from Louisiana on a White House-backed tax-reform panel. Ireland cut its rate to 12.5 percent from 24 percent between 2000 and 2003, prompting European countries to make similar changes, the newspaper said. This month, the Netherlands lowered its corporate-tax rate by three percentage points to 31.5 percent, the newspaper said".

Are tax rates a factor in job growth and economic development? "Nevada, which does not levy a state corporate or individual income tax, has recorded the highest percentage employment growth in the U.S. for the second consecutive year. Coincidence? Total Nevada nonfarm payroll employment expanded 4.8 percent in 2004, according to data recently released by the U.S. Bureau of Labor Statistics. And the expansion is heating up in Nevada. Last year's blistering employment growth was actually higher than in 2003 when Nevada's labor market led the nation at 3.9 percent. Capital investment isn't fleeing to Nevada because of all that water in the desert. The Golden State's labor market expanded at a much lower rate of 1.1 percent in 2004. Tax rates in Arkansas on capital investment are among the highest in the South. That state's job-creation rate barely budged last year while the U.S. economy created 2.2 million jobs."

A good tax reform idea: "A tax scheme that would address these problems is the savings-exempt income tax (SEI tax), an idea associated with British Nobel prize-winning economist, the late Professor James E. Meade. A savings-exempt income tax, as the name suggests, is a form of income tax where the tax is levied only on that part of income that is spent, exempting the part that is saved. Instead of paying 20 or 40 per cent on whatever you earned, you would pay a progressive rate of tax on whatever you spent".

Laffer must be laughing: "When the capital gains tax rate was at its maximum in the late 1970s, capital-gains tax receipts averaged slightly under $8 billion annually. From 1998 to 2002, the maximum capital-gains tax rate was approximately half the rate of the late 1970s, yet capital-gains tax revenues averaged 11 times higher ($88.6 billion per year), though the economy (nominally) was only 4 times larger."

There is a big research paper here (PDF) comparing many countries which shows that governments which offer most security to private property preside over the greatest economic growth and the highest income levels: "The institutional approach to growth is based on the idea that both the availability and productivity of resources will be influenced by the institutional and policy environment. While there is some debate about the exact characteristics of the institutions that are most appropriate for economic growth and prosperity, there is considerable agreement that secure property rights are crucial, and that the impediments to exchange must be minimal. Institutions and policies are reflective of government actions. To promote economic growth, governments must not only follow actions that are supportive of secure property rights and freedom of exchange, they must also make a convincing and credible commitment that the policies will be maintained in the future."

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ELSEWHERE

The following news item shows that the double standard about Communism and Fascism is still thriving right up to the present day in the socialistic EU: "A group of conservative European Union lawmakers from eastern Europe called Thursday for a ban on communist symbols, including the red star and the hammer and sickle, to match a proposed EU ban on the Nazi swastika. The group from Estonia, Lithuania, Slovakia, Hungary and the Czech Republic said the communist symbols should be included in any ban because of the suffering caused by Soviet-backed regimes in eastern Europe.... EU Justice and Home Affairs Commissioner Franco Frattini has proposed a Europe-wide ban on display of the swastikas and other Nazi symbols as part of a campaign to combat anti-Semitism and intolerance... Frattini's spokesman, Friso Roscam Abbing, said the EU head office was not at this time pushing for a similar ban on communist symbols"

How absurd: "The preachers in England have fallen on hard times since they pretty much turned Jesus out of the church, but the archbishop of Canterbury has come up with a novel idea to make himself relevant: If you can't get 'em to church, get 'em to the greenhouse. The churches of England - the churches of the Church of England - are going eco-friendly. Dr. Rowan Williams wants his vicars to serve only organic bread and wine for holy communion, to urge parishioners to ride to service in car pools, recycle "waste products," and to sell only "fair trade products" at church fairs and Bingo suppers".

I agree with Deinonychus antirrhopus about firing the disgusting fraud Ward Churchill. If any conservative had said anything as offensive he would be on welfare for the rest of his life. I would link to Deinonychus antirrhopus more often except that it is too hard to spell. Perhaps I could just refer to him as "That Greek guy".

More Democrat hypocrisy: "In his State of the Union rebuttal, Senate Democrat leader Harry Reid attacked President Bush's call to allow younger workers to be allowed to voluntarily put a portion of their Social Security tax dollars into Personal Retirement Accounts. These accounts would be owned and controlled by workers, could be passed on to loved ones, and would most likely be invested in stocks and bonds. Sen. Reid said investing in such a manner is 'Social Security roulette.' If that is the case, Sen. Reid must think 'roulette' is a great way to save for retirement, considering he himself is heavily invested in stocks and bonds."

A Leftist who half gets it: "It is a week to do a liberal's heart good. The star of the show last week was Condoleezza Rice, a black woman. The chief supporting actor was Ruth Bader Ginsburg, a Jewish woman. The occasion was the ceremonial swearing in of Rice as U.S. secretary of state. Ginsburg is the Supreme Court justice who administered the oath. This week, if all goes as planned, Alberto Gonzales will win Senate approval to become our next attorney general. Gonzales is Hispanic and was born into poverty. And, ending yesterday, elections were held in Iraq. For these reasons, you'd expect liberals to be jumping up and down with joy. Don't liberals support diversity and racial equality? Don't liberals support free elections in other free nations? The answers are yes and yes. So why aren't we cheering? Well, in a small way, we are. No matter how you might suspect President George W. Bush's motives, you have to give him credit for his actions. He's done a marvelous job of putting minorities into positions of power. However, one could argue (and I do), that Rice and Gonzales are the wrong minorities."

My latest posting on MarxWords notes that Marx abused a rival as a "Jewish nigger". My latest posting on "A scripture blog" notes more evidence from the Hebrew of Deuteronomy 6:4 that the Hebrew God was a single entity, not a trinity.

For more postings, see EDUCATION WATCH, GREENIE WATCH, POLITICAL CORRECTNESS WATCH, GUN WATCH, SOCIALIZED MEDICINE and LEFTISTS AS ELITISTS. Mirror sites here, here, here, here and here

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That power only, not principles, is what matters to Leftists is perfectly shown by the 2004 Kerry campaign. They put up a man whose policies seemed to be 99% the same as George Bush's even though the Left have previously disagreed violently with those policies. "Whatever it takes" is their rule.

Leftists are phonies. For most of them all that they want is to sound good. They don't care about doing good. That's why they do so much harm. They don't really care what the results of their policies are as long as they are seen as having good intentions.

The Big Lie of the late 20th century was that Nazism was Rightist. It was in fact typical of the Leftism of its day. It was only to the Right of Communism

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