The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM
Iran's Sham Election In Houston.
June 20, 2005 5:36 AM
Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM
Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM
Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM
Idea Majorities Matter.
May 12, 2006 6:15 PM
Twilight Zone Economics.
Oct. 17, 2006 12:30 AM
The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM
From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM
Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM
Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM
Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM
Unions Antithetical to Liberty.
May 28, 2008 11:12 PM
Right To Work States Rock.
June 9, 2008 12:25 PM
Social Security Reform Thursday.
March 13, 2008
Caption Contest: Enter Today!
Due: July 29, 2008
The Carnival Of Classiness.
Mar. 14, 2006
Quotational Therapy: Obama.
Apr. 4, 2008
Mainstream Melee: Wolfowitz.
May 19, 2007
Pundit Roundtable: Leaks.
July 9, 2006
A WILLisms.com(ic), by Ken McCracken
July 14, 2006
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Quotational Therapy: Part 54 -- Good People With Occasional Bad Ideas.
A Great President With A Terrible Idea-
Compound interest. It's a powerful financial force that tens of millions of Americans benefit from each day.
You earn money on top of money you've earned on top of money you've earned. It's not a particularly difficult concept to understand, compound interest.
So, imagine if the government were to begin treating your earnings in the stock market like they treat the rest of your earnings. Imagine if you had taxes automatically withheld from your investment account(s), as you earn it.
Now, consider all of that compound interest you will be missing out on in the meantime. You'd essentially be robbed of earning money on top of money.
Withholding on interest and dividends is just a bad, bad idea. Terrible, even.
So, without further delay, here is today's quotational therapy:
Withholding 10 percent on interest and dividends will allow the Internal Revenue Service to recover (billions) ….. in otherwise lost revenues over the next 5 years — and that’s without taxing honest taxpayers a penny more than they now pay.
Can you guess who uttered those words?
He is a conservative hero.
Read more about this terrible idea, who came up with it, and what it means for President Bush and the Harriet Miers Supreme Court kerfuffle, at BizzyBlog.com.
Previous Quotational Therapy Session:
Posted by Will Franklin · 31 October 2005 09:45 AM
Will, the BizzyBlog link is broken.
Posted by: WunderKraut at October 31, 2005 10:14 AM
Oops. Should be fixed now.
Posted by: Will Franklin at October 31, 2005 10:18 AM
Some have even suggested taking it to the next worst level and taxing unrealized gains as they accrue rather than as they are realized.
Posted by: KipEsquire at October 31, 2005 10:32 AM
Kip, that already happens in the isolated case of zero-coupon bonds, where you have to declare interest income on the bond's appreciation even though you have received no money to pay it.
But you are right that some have suggested extending the logic to stocks, housing appreciation, and the like, which would be about as sure a way to kill off the economy as I can think of.
As to the substance of this post, thanks to will for the link, and I believe the Alito nomination, coupled with a near-flameout of anything damaging from Plamegate, are the beginnings of a bigtime Bush recovery.
Posted by: Tom Blumer at October 31, 2005 12:27 PM