give us a (tax) break

TaxProf Blog

Even amoebas learn by trial and error, but some economists and politicians do not.

come on... that's funny... it's sensible to assume that you examine historical evidence to base your hypothesis for future outcomes... if you burn your hand on the stove, you shouldn't touch it again... if raising the tax rates of the highest income brackets has not produced additional income, maybe you shouldn't raise the tax rates.

the Gross Domestic Product (GDP) fell from $14.369 trillion in 2008 down to $14.256 trillion in 2009... that's a $113,000,000,000 (that's billion) free-fall in one year... that doesn't necessarily mean we produced less quantity... but the value of what was produced has fallen... the net result is, businesses made less capital (e.g. money) for their investment... this equals less profit... less profit means these companies have less to reinvest in future gains (i.e. less research, less new hiring, less development).

however, China isn't having these problems... and if a business invests its excess capital (e.g. profit) into this foreign market, it will make a higher return on the investment (e.g. more money).

so, to keep companies from moving to China, we need to raise the GDP... to raise the GDP, we need to keep companies from moving to China... sounds circular?... you bet... but you can do things to keep companies from leaving other than raising the GDP... what do you think one of these things would be?

perhaps some sort of incentive could be used... i don't know... maybe tax incentives... or maybe, just maybe, you don't penalize people for being successful!

the first thanksgiving of a new nation

George Washington's Proclamation:

By the President of the United States of America, a Proclamation.

Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor-- and whereas both Houses of Congress have by their joint Committee requested me to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.

Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be-- That we may then all unite in rendering unto him our sincere and humble thanks--for his kind care and protection of the People of this Country previous to their becoming a Nation--for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war--for the great degree of tranquility, union, and plenty, which we have since enjoyed--for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted--for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.

and also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions-- to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually--to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed--to protect and guide all Sovereigns and Nations (especially such as have shewn kindness unto us) and to bless them with good government, peace, and concord--To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us--and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.

Given under my hand at the City of New York the third day of October in the year of our Lord 1789.

Go: Washington

[emphasis, italics and otherwise, added]

is this sincerity or gloating?

Warren Buffett - NYT Op-ed

DEAR Uncle Sam,
My mother told me to send thank-you notes promptly. I’ve been remiss.

though i loathe to post a corporate insider's self-serving opinions, i think we would be remiss in not hearing the truth from a billionaire's point of view... and this also serves as counterpoint to the bias against President G.W.Bush as the cause of all our current woes... you see, even Warren Buffett gives credit where credit is due.

And though I never voted for George W. Bush, I give him great credit for leading, even as Congress postured and squabbled.