- Oct 6, 2008
- 125,001
- 60,455
- Thread starter
- #61
As has become the pattern, Biden and the Democrats produce insane, damaging, counter-intuitive bills and orders......
....and the geniuses who voted for him, are SILENT AS THE GRAVE.
Let's give 'em another chance to show they are brainless automatons who simply vote as they are ordered to.
"Stephen Moore: Bidenās $1.9 trillion ārescue planā could destroy 4 million jobs ā hereās a better idea
Bidenās proposals will likely speed America further along the track to bankruptcy, higher interest rates, higher inflation and much higher taxes"
Stephen Moore: Bidenās $1.9 trillion ārescue planā could destroy 4 million jobs ā hereās a better idea
What Biden has presented isnāt a COVID-19 relief bill. It is a Sen. Bernie Sanders-type wish list of everything conceivable that the left has wanted to spend money on for years, and even decades. It certainly isnāt a āstimulusā bill.www.foxnews.com
Can you hear their 'silent moronity'?????
OK, I just got to jump in here. Stephen Moore? Seriously, he got his Masters of Arts in Economics at George Mason University. LOL. I mean first of all, it is a MA. I mean you can go to SNHU and get an MS. But most of all, it is George Mason. I mean an economics degree from there holds about as much weight as a minister certification that you get online.
But did you even read the article? I mean do you understand his logic? Let us begin here,
Casey Mulligan of the University of Chicago and I estimate that at least 4 million jobs would be destroyed by the Biden bill because all of the free money makes work less essential and ā in many cases ā less financially attractive than getting off the couch and working. Thatās some stimulus.
Now I know that sounds good to simple minds like yours. Yeah, sitting on the couch and not working, lazy asses. But jobs are created by businesses. Jobs are created by demand. I mean if someone makes more money sitting on the couch than going to work two things happen. First, well they have higher demand. That is what creates the damn jobs. But second, since they are out of the labor market they have lowered the supply of labor resulting in the lifting of average wages. I mean holy shit, the scenario dumbfawk just illustrated is a damn win/win. I mean at a respectable university, one where the Economics department has not completely sold it's soul to the Koch brothers, they would tell you Moore's argument is like pushing a rope. The only possible explanation is that Moore has somehow perversely misinterpreted Say's Law, which even when understood correctly, is WRONG. Again, you can't push a damn rope. Supply does not create demand. Like the proverbial buggy whip. The problem with buggy whips was not that people were shifting their demand away from the horse and carriage and to the car. The problem was the companies were just not making enough buggy whips. That is Say's Law defined.
So what is Moore's big plan,
If the idea here is to create jobs, there is a less expensive and much more effective way to get employers to hire and workers to get back in the labor market. We could completely eliminate for an entire year the 7.5% payroll taxes paid by every small business and taken out of every workerās paycheck. That would unleash millions of jobs. This would have virtually ZERO administrative and bureaucratic costs. Maybe thatās why Washington pols donāt want to do it.
I mean this shit is comical. I mean I do get the fact that the workers gaining that little bit of a raise would increase demand. But hell, is that not the same thing as increasing your income sitting on the couch instead of working? But the idea that companies saving their contribution would lead to an increase in hiring is easily dismissed because of the results of Trump's corporate tax cut. I mean the idea here is that the cost of labor is prohibitive to hiring. That is laughable. Companies pay their employees the least amount possible. If anything, with corporate tax rates at historical lows, cutting labor costs further would probably result in less hiring. The opportunity cost, and that is an interesting concept, I bet most George Mason Economics graduates would flunk the famous opportunity cost question, of allocating monies to increased hiring is too high to justify the action.
The "idea" is for the Wehrmacht....er, Democrats, to try to undue the damage they did in crushing the Trump miracle economy as part of their need to unseat Trump.
Toward that end the are as willing to mortgage future generations of American to their massive debt, as they were to unleash their shock troops, BLM and ANTIFA, on America.
And the vulgarity was unnecessary.