billionaires

Ben Stein Crushes Bill O'Reilly Over Taxes

Posted 8/23/11 at 2:58pm by jamie

When you have one of the best known conservative writers on economics go after the standard GOP talking points that we need more tax cuts for the rich, you know that the right is in trouble.

On Bill O'Reilly, Ben Stein did just that:

Dave Edwards offers this awesome outtake from this confrontation:

O’Reilly went on to argue that raising taxes on the rich would make the recession worse.

“That isn’t true,” Stein said. “There is no correlation, Mr. O’Reilly, between taxes rates on millionaires and people above that level, billionaires, and the growth of the economy… Higher taxes have historically correlated with more growth.”

“Mr. O’Reilly, sir, there is no correlation of raising taxes and unemployment,” he added later. “If you can show it to me, I’ll eat your shoe.”

And Ben Stein is right in this argument. Let's go back to 1982. Ronald Reagan was in the White House, his historic tax cuts only on the books for a couple of years and a recession hitting the country. What did Reagan do? Let's ask David Stockman:

Cantor Accuses Obama Of Class Warfare

Posted 8/22/11 at 2:12pm by jamie

An op-ed that Eric Cantor wrote for yesterday’s Washington Post is very interesting, to say the least:

But the politics of division have reared up, fueled by efforts to incite class warfare. For example, though he often talks about millionaires, billionaires and corporate jet owners paying their “fair share,” behind closed doors the president admits to wanting to raise taxes on individuals making $200,000 per year and families and small businesses earning $250,000 per year.

Again we have a Republican leader worrying about only 2% of this country. What about the other 98% who don’t earn that much? How about the fact Eric Cantor voted for the Paul Ryan budget that essentially raises taxes on the middle and lower class, while cutting them on this 2%? I’m sorry, but if there’s a class warfare going on, it is being caused by Eric Cantor and his party.

But this is to be expected. Cantor is another example of those who forget about history. We are talking about deficits here and not to long ago the right seemed to not mind those deficits one bit:

As President Bush sent his budget to Capitol Hill Monday, a split opened among congressional Republicans between those who are still deficit hawks and an increasing number, including top leaders, who no longer see deficits as the touchstone of fiscal probity.

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