{"id":2306,"date":"2009-11-24T15:13:25","date_gmt":"2009-11-24T20:13:25","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=2306"},"modified":"2009-11-24T15:13:25","modified_gmt":"2009-11-24T20:13:25","slug":"the-new-stimulus-150-billion-tax-increase","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/2306\/the-new-stimulus-150-billion-tax-increase\/","title":{"rendered":"The New Stimulus: $150 Billion Tax Increase"},"content":{"rendered":"<p>Ah, the world of Democratic fiscal policy.\u00a0  If you pass three massive stimulus bills that not only fail to stimulate job growth, but partly contribute to <a href=\"http:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\" target=\"_blank\"><span style=\"text-decoration: underline;\">10.2% unemployment<\/span><\/a>, why not go back to the well and push for tax hikes?<\/p>\n<p>According to <a href=\"http:\/\/thehill.com\/\/homenews\/house\/69295-dems-push-wall-street-150b-stock-tax\" target=\"_blank\"><span style=\"text-decoration: underline;\">the Hill<\/span><\/a>, Democrats are seeking a $150 billion tax on the sale and purchase of financial instruments like stocks and derivatives.\u00a0  The thinking is that since Wall Street is finally recovering and unemployment is still lingering above 10 percent that Wall Street needs to involuntarily fund a \u201cJob Creation Reserve\u201d for the unemployed.\u00a0  If that\u2019s all it takes to lift a <a href=\"http:\/\/www.bea.gov\/national\/xls\/gdplev.xls\" target=\"_blank\"><span style=\"text-decoration: underline;\">$14 trillion economy<\/span><\/a> out of recession, why didn\u2019t our exalted class of politicos think of this before?<\/p>\n<p>Now that Wall Street is starting to recover, what better way to welcome it back to prosperity than with a massive new tax hike?\u00a0  This failed line of thinking reminds me of the old Ronald Reagan quote, \u201cIf it moves, tax it.\u00a0  If it keeps moving, regulate it.\u00a0  And if it stops moving, subsidize it.\u201d<\/p>\n<p>For real life illustrations of this quote see: Wall Street bailouts\/new taxes, taxing \u201crich people,\u201d bailing out Detroit, subsidizing Amtrak, subsidizing the postal service, subsidizing agriculture, and the regulation of pretty much every productive economic venture in the U.S.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ah, the world of Democratic fiscal policy.\u00a0 If you pass three massive stimulus bills that not only fail to stimulate job growth, but partly contribute to 10.2% unemployment, why not go back to the well and push for tax hikes? According to the Hill, Democrats are seeking a $150 billion tax on the sale and [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[506,456,179,105,71,18],"class_list":["post-2306","post","type-post","status-publish","format-standard","hentry","category-posts","tag-democrats","tag-ronald-reagan","tag-stimulus","tag-tax","tag-taxes","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/2306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=2306"}],"version-history":[{"count":1,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/2306\/revisions"}],"predecessor-version":[{"id":2307,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/2306\/revisions\/2307"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=2306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=2306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=2306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}