A big part of the problem

Listen to the President talk about why he would raise capital gains tax rates even though cuts by Clinton and Bush both increased revenues.

Amazingly enough, the liberal commentator Charles Gibson knows and tells the truth about what happens when the capital gains tax rate is reduced:

History shows that when you drop the capital gains tax the revenues go up.

But note how Obama ignores the facts and says he wants “fairness,” as if having a higher rate for those evil rich people will make things more “fair,” even though there will be less tax revenues to fund his liberal projects.

As I said in Jobs!!! Part one, here’s a huge part of the problem: Are You Smarter Than a Fifth Grader?  Self-identified liberals and Democrats do badly on questions of basic economics.  The video is just more evidence of that, not to mention the failure of putting Utopian ideals above financial facts.

And you wonder why unemployment is so high?  It is just like when ideology and feel good finger-pointing unnecessarily cost tens of thousands of jobs with the offshore drilling moratorium.

Hat tip to TNWAHM via Hillbuzz for the video

0 thoughts on “A big part of the problem”

  1. Finally got on a computer that allowed me to check out the video. What a putz 52% of the country forced upon the rest of us! If the corporate guy among that evil group has a lower tax rate than his secretary, then lower the secretary’s tax rate to match the boss’. That will increase her spending power and provide actual stimulus to the economy! And here’s a little clue, Barry, you little man: it will satisfy your BS concern for fairness.

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  2. I thought about this some. So you raise Capital Gains taxes and lower revenues. To make up for the revenue loss, you have to raise taxes somewhere. Hmm…. Where to raise?? I know, it must be Big Oil’s fault. Let’s slap a big tax on them. Of course, that raises the price of gas and Donny Democrat can’t afford to go to work, so, let’s give a gas-assist credit to low earners. Wait, that costs more money, so let’s slap another tax. This time on Big Banks.

    Of course, Big Banks will charge higher fees, so Donny Democrat won’t be able to keep his checking account unless we slap more legislation on the banks.

    And of course, this leaves out Big Insurance, who needs more taxes and legislation, so let’s roll out free medical care to anyone who can wait for it…

    AAAARRRGGG!!!

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