The headline for this editorial should be “Lefty Editors Of Daily Out Of Touch With Economics.”
First, can the far left Daily editors even conceive of the concept of there being Too Much Welfare? I didn’t think so. It’s a good idea to prune back such welfare programs to serve the deserving and kick the able-bodied moochers off the welfare rolls. For example, several students from other schools have written columns on how easy it was for them to get food stamps even when they did not qualify. The fact is, too much welfare money is wasted. This needs to be tightened up.
It’s ridiculous that that the lefty Daily editors decry the bonuses so many workers are getting because they aren’t permanent raises. That’s a pretty good example of making the perfect being the enemy of the good. If we got permanent raises, the goofy lefty editors of the Daily would be bitching because we didn’t win the lottery. It’s pretty desperate for lefty whiners to complain a good result isn’t better. I got my $1500 bonus and let me tell you, it’s sweet. I don’t know anyone who got one and complained, “How am I supposed to fit fifteen hundred smackers in my wallet!?”
It’s pretty stupid to complain that successful companies will get a tax cut. After all, a tax cut is fairly meaningless for an unsuccessful company, since they’re losing money and have no profit to tax. A tax cut for a wildly successful enemy of the people like Apple is allowing them to bring home $250 billion with a B bucks, a quarter trillion (!) from overseas which they can now invest at home. That kind of money could fund a million jobs. Would anybody from Iowa State like job recruiters to swarm campus at graduation hiring for one of those million jobs? The lefty editors of the Daily would rather have no tax cuts and put more money into welfare so that you can graduate and get good unemployment benefits.
The Daily’s complaint that the corporations keep most of their tax cuts and give them to their investors shows how greedy socialists are for other people’s money. Whose money is it? The corporations earned that money by risking investors’ cash to provide goods and services to the public. OF COURSE, the investors should reap the reward on their investment. The lefty editors of the Daily think that money should be the government’s, that the government should have first claim on everything you earn.
The economically illiterate lefty editors of the Daily should go look up the Laffer Curve which says that there is an optimum rate for tax collection, that there is a percentage of income the government can take as taxes, beyond which tax revenues decline because people and investors pull out of the working world. It looks like that optimum rate is about 19.5%. America is taxed right now at about 24% of its GDP. In short, America is overtaxed. If we tax the economy less, we will collect more taxes. Already, the CBO says tax revenues are running 5% higher this fiscal year than in Obama’s final year. More tax cuts are likely to increase tax revenues. That’s good for America and Americans. The Daily wants to stop it.
That’s why you should never let socialists run your country. They’ll tax you back into the Stone Age.
Source : http://www.iowastatedaily.com/opinion/article_7d15d7b6-10df-11e8-92ea-3f05966f3fb4.html593