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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Trivia Tidbit Of The Day: Part 239 -- Yay, Economy. Yay, Tax Relief.
Tax Relief & Increased Business Fixed Investment: Strongly Correlated-
Today, we have almost all the ingredients for a lasting (in the medium-term, at least) economic boom. Productivity growth is leaping upward. Hundreds of thousands of net new jobs are being created every month. The unemployment rate is falling. The federal budget deficit is declining dramatically (but remains too large). And businesses are investing for the future (.pdf):
Business fixed investment has been robust during the past two years: since the first quarter of 2003, real business fixed investment has expanded at an average annual rate of nearly 11 percent—a pace that far exceeds such investment’s long-run average and is about the same as the average rate of growth during the investment boom of the late 1990s. In particular, real spending for equipment and software has been quite vigorous, climbing at an average annual rate of more than 13 percent since the beginning of 2003.
Indeed, business activity is brisk, even in manufacturing. We hear so much about "outsourcing" and General Motors layoffs that the good news gets lost in the shuffle:
Tax cuts did exactly what they were supposed to do. American businesses responded to the incentives. The economy is roaring today because of it.
Indeed, the facts do not lie:
The 2003 tax cut is about as clear a policy success as has come out of Washington in many years:
Fortunately, in a short span, Americans have become quite a bit more optimistic on the economy:
The poll showed that 56 percent now describe the national economy as good, up from 47 percent a month ago.
No doubt about it, this is directly correlated with President Bush and his administration going on a public relations blitz on the economy.
Clearly, though, too few people have heard the message about America's economic boom. Some may have heard the message, but the message is clouded by the pessimism of Lou Dobbs, Paul Krugman, and others asserting that the sky is still falling.
They will do what they do. The rest of us can forge a national consensus: the economy is kicking serious tail right now, by almost any standard. And it has been kicking tail for more than a couple of years now.
So, want to derail the boom times?
Here's what you do:
Raise taxes. Or, let tax relief expire. However you want to put it.
Astoundingly, a handful of "moderate" Congressional Republicans are not entirely sold on their own signature economic policy-- and apparently some have not noticed the profoundly positive results. Many in Congress (mostly Democrats) would let dividend, capital gains, income, and other taxes creep back upward.
It's no wonder only 14% and 16% of Americans have trust in Congressmen and Senators, respectively. When they do something right (2003 tax relief), many are still willing to turn their back on it when under a bit of mild pressure.
Let's hope that Congress gives us something to trust in today.
Incidentally, isn't it funny that the same people declaring gloom and doom in the American economy are also declaring "quagmire" in Iraq?
The GOP (for the most part) has backbone, after all. Way to go.
Previous Trivia Tidbit: A n Entire Jeopardy Category: "Chances".
Posted by Will Franklin · 8 December 2005 10:31 AM
ok, after the title, I was lost...but I'm taking your word for it that all of this is good news for me and my wallet.
Posted by: MacStansbury at December 8, 2005 06:54 PM
Am I dreaming or did Jay Tea from Wizbang appear on Jeapordy?...
Posted by: Zsa Zsa at December 11, 2005 08:37 AM