Bush Tax Cuts

The current tax rates are what they are. Why is changing the current rates referred to as removing the Bush tax cuts rather than calling them the Obama tax rate increases?

Climategate 2.0

James Taylor looks at the some of the shenanigans in the AGW story.

Three themes are emerging from the newly released emails: (1) prominent scientists central to the global warming debate are taking measures to conceal rather than disseminate underlying data and discussions; (2) these scientists view global warming as a political “cause” rather than a balanced scientific inquiry and (3) many of these scientists frankly admit to each other that much of the science is weak and dependent on deliberate manipulation of facts and data.

So the science is not exactly settled.  But it is settling.  

“I also think the science is being manipulated to put a political spin on it which for all our sakes might not be too clever in the long run,” Thorne adds. 

“Mike, The Figure you sent is very deceptive … there have been a number of dishonest presentations of model results by individual authors and by IPCC,” Wigley acknowledges.

Not sure why the NYT and others aren't crowd sourcing this to get to the bottom of the settling science.

Unemployment Woes

I am not sure that a GOP campaign ad writer could have come up with a better way to communicate the left's idea of Keynesian intervention in the economy. The Onion may have been able to come close.But U.S. Labor Secretary Hilda Solis did it better than any of them could have.

Failing to extend the length of time that unemployment workers are eligible to receive federal unemployment payments “will mean an increase in the unemployment rate.”

Before you do damage to your scalp trying to figure out if this makes sense, rest assured it is true. Just as no longer borrowing or printing money to pay people's grocery bill increases hunger, and no longer borrowing or printing money to pay people's car loans increases immobility, and no longer borrowing or printing money to pay people's house loans increases homelessness.

A finer example of a tautology you will not find.

The argument rests on unilateral demand side thinking. If the demand is not maintained by giving people money that is either borrowed or printed, the businesses who sell goods and services will go out of business. If this works so well, why not just print money and send a pallet to each and every person in the US? Wouldn't this sort of stimulus expand the economy and create tremendous demand?

Ugh. Yes, an increase in borrowing can be a stimulus to demand. But at what cost? Is there a limit to how much borrowing can occur before the debt is overwhelming? Is this wise

Down With Capitalism

Chris Carrado has a great article that examines some of the motivations behind the Occupy Wall Street movement:  the left hates inequity in results more than it loves liberty, they hate profit more than they love freedom in markets.

If a company earns millions in profit because it develops a revolutionary medical device that saves thousands of lives, has it not paid its fair share? If a company produces a chemical that kills 99.5% of bacteria in farms, has it paid its fair share? If Ford creates a car so safe that it prevents 80% of otherwise fatal auto accidents, has Ford not done enough? If a grocery chain brings us a bounty of diverse, healthy foods we can purchase without the cost and effort of growing them ourselves, do we think we're also entitled to the profits it brings that chain?