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09 Dec 09

Matthew Yglesias » Civil Rights Act Was Opposed By Conservatives

  • Bartlett’s point in the post is that most of the opponents of the Civil Rights Act of 1964 were Democrats.
  • This is very true. But it simply highlights the fact that politics in 1964 were not ideologically aligned.
  • 1 more annotations...
03 Dec 09

A Real Fiscal Conservative | Capital Gains and Games

  • n Washington, the term "fiscal conservative" often gets applied very loosely to people who complain about debt and deficits a lot but never, ever put any real deficit reduction proposals on the table--Evan Bayh, I'm thinking of you.
  • So I'm pleased to call attention to a real fiscal conservative--economist Jeff Frankel of Harvard, who has put together a 10-point plan of serious, honest-to-God deficit reduction proposals.
  • 1 more annotations...
02 Dec 09

The Stimulus Worked? - The Daily Dish | By Andrew Sullivan

  • Brace Bartlett highlights this CBO report (pdf) on the stimulus. The bottom line:

    CBO estimates that in the third
    quarter of calendar year 2009, an additional 600,000 to
    1.6 million people were employed in the United States,
    and real (inflation-adjusted) gross domestic product
    (GDP) was 1.2 percent to 3.2 percent higher, than would
    have been the case in the absence of ARRA [American Recovery and
    Reinvestment Act]...Those ranges are intended to reflect the uncertainty of
    such estimates and to encompass most economists’ views
    on the effects of fiscal stimulus.

24 Nov 09

Beck: "We Need To Start Thinking Like The Chinese" - The Daily Dish | By Andrew Sullivan

  • Remember when Glenn Beck accused President Obama of winning followers like a totalitarian demagogue, warned against the nefarious tendencies of community organizers, and was himself defended against critics by Jonah Goldberg, who called Beck "a libertarian populist?” Now the cable television host is touting a "radical," details-to-be-announced mass movement that promises to save the United States. Its name: "The Plan."

    It includes a series of adult education seminars where citizens will be taught political activism, self-reliance, and the dread community organizing. The often tearful Fox News personality also promises a book that will include more specifics.

    "We need to start thinking like the Chinese," Mr. Beck said at a recent rally. "I’m developing a 100 year plan for America."

  • The weird thing is: some aspects of the current tea-party movement appeal to me. Its deep concern with debt and spending is shared by the Dish and has been since its inception. And a conservative critique of unrestrained capitalism - especially the reckless speculation and banking sector in the past decade - is vital if we are to save capitalism from itself. But Beck is not Richard Posner or Bruce Bartlett or Charles Murray, whose ideas are worth taking seriously. As Charles Murray puts it:

    "Beck uses tactics that include tiny snippets of film as proof of a
    person’s worldview, guilt by association, insinuation, and occasionally
    outright goofs like the fake quote. To put it another way,
    I as a viewer have no way to judge whether Beck is right. I have to
    trust that the snippets are not taken out of context, that the dubious
    association between A and B actually has evidence to support it, and
    that his numbers are accurate. It is impossible to have that trust."

    No wonder Palin feels a kindred spirit. The two of them represent the degenerate expression of cliches that used to be ideas (and ideas worth retaining and adjusting to new circumstances). But the vessel for rethinking will not come from proud ignoramuses and populist Elmer Gantrys. It will not come from reiterating propaganda but from confronting unpleasant facts about conservatism's recent catastrophic failures and mistakes.

05 Nov 09

Matthew Yglesias » The New American Economy

  • Here he is explaining why Europe isn’t a zero growth dystopia:


    In America, people tend to think of their federal taxes as money down a rat hole and react accordingly. But in Europe, the people are more apt to feel they are simply paying for services with their taxes that Americans have to pay out of pocket.


    This fact is best illustrated by health care. Most Americans get health insurance through their employers. The cost reduced their cash wages by 7.9 percent on average in 2008 according to the Bureau of Labor Statistics. If we had national health insurance and insurers were entirely relieved of this expense, they could afford to pay their workers 7.9 percent more and be no worse off. If the payroll tax went up by 7.9 percent to pay for health insurance, it would all be a wash, but both taxes and government spending would be higher. [...] The second reason why taxes have less of an impact on incentives in Europe than one might expect is because European countries raise much more of their revenue from consumption taxes than the United States does.

29 Oct 09

The Daily Dish | By Andrew Sullivan

  • I thought its proposals were ill thought-through and that it would
    have been better to take the time to develop something more coherent,
    rather than making things up on the fly, which appears to be the case.




    I also believe the administration has done a poor job of addressing
    what I think is the biggest problem with the American health care
    system: It costs too much for what we get. We spend in total twice as
    much of our gross domestic product on health as most other major
    countries without getting much in return for the extra spending.

    Finally, I think the goal of universal coverage is a good one, but
    the Obama proposal is not properly financed. I think a broad-based new
    government benefit should be financed with a broad-based tax that is to
    a large extent paid by the beneficiaries, as is the case with Social
    Security.

27 Oct 09

The Curious Case of Bruce Bartlett - The Atlantic Business Channel

  • Suppose you had a 10 percent VAT and we said we weren't going to
    collect it for the next 10 months. People would buy like crazy. They'd
    buy toilet paper, they'd buy anything they could get their hands on
    that they knew they'd need in the future. We're depriving ourselves of
    a great stimulant tool by ignoring this.
19 Oct 09

The Wall Street Journal Publishes Erroneous and Dubious Anti-VAT Arguments | Capital Gains and Games

  • The other day the Wall Street Journal editorial page ran an article by Ernest S. Christian and Gary A. Robbins attacking the idea of a value-added tax for the United States. This is the second anti-VAT op-ed the Journal has run this year on top of two highly negative editorials. Only one piece has appeared favorable to the VAT and that was written by former Clinton administration Treasury official Roger Altman. Apparently, it's okay for Democrats to get space in the Journal to promote the VAT because it allows the editorial page to maintain the fiction that only liberals favor such a tax as part of their nefarious plan to eventually tax 100% of everything. When I've queried the Journal about an article on why conservatives ought to support a VAT I did not get a reply.
  • The reason it is extraordinary is because the universal view of economists has always been that 100% of a VAT is shifted onto consumers. That's what makes it a consumption tax and not a tax on capital, which is the main problem with income taxes.
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18 Oct 09

The Daily Dish | By Andrew Sullivan

  • But as I try to explain in
    my book, my views haven't changed at all; it's circumstances that have
    changed. I believe that my friends are still stuck in the 1970s when
    tax rates were considerably higher and excessive demand (i.e.,
    inflation) was our biggest economic problem. Today, tax rates are much
    lower and a lack of demand (i.e., deflation) is the central problem.
  • I
    really don't understand why conservatives insist on a one-size-fits-all
    economic policy consisting of more and bigger tax cuts no matter what
    the economic circumstances are; it's simply become dogma totally
    disconnected from reality.
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28 Sep 09

Auditing the Fed | Capital Gains and Games

  • The Fed is already thoroughly audited in every area except two: monetary policy and dealings with foreign central banks.
  • Whatever one thinks of the Fed's policies in recent years--and there certainly are grounds for criticism--there is no reason whatsoever to believe that undermining its independence and putting the Congress in control of monetary policy--Ron Paul's goal--would improve matters at all
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27 Sep 09

Bush from the Inside | Capital Gains and Games

  • a bully who cannot stand to be contradicted, who thinks he knows everything despite being grossly ignorant most of the time, and who browbeats those beneath him into agreeing with him.
  • Bush's WH seems amazingly slipshod, showing total disregard for all of the things that were important to Reagan in terms of how his administration functioned.
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Fiscal Responsibility Requires Higher Taxes - Forbes.com

  • Throughout most of our nation's history, political conservatives really only had one thing in common: They all believed in a balanced federal budget.
  • they all agreed with Vice President Dick Cheney when he told Treasury Secretary Paul O'Neill, "Reagan proved deficits don't matter."
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11 Sep 09

Another Million Uninsured | Mother Jones

  • No doubt, right wing publishers like Regnery and Crown will be beating down Wilson's door today to sign a book deal that will put him at the top of the New York Times bestseller list along with drivel from the likes of Michelle Malkin, who has probably already started writing her biography of Wilson, titled, "The Man Who Spoke the Truth."  By the end of the day a Wilson for President web site will be fully functioning if it isn't already.  Watch for the announcement on Glenn Beck’s show this afternoon.
08 Sep 09

Why I Am Anti-Republican

  • But they all work for Republican-oriented think tanks like AEI and Hoover and don’t wish to be fired like I was from NCPA .
  • Glenn Beck
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14 Aug 09

The GOP's Misplaced Rage - The Daily Beast

  • I know of no economist who holds that view
  • In January, the Congressional Budget Office projected a deficit this year of $1.2 trillion before Obama took office, with no estimate for actions he might take
  • 15 more annotations...
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