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The Good News Is ...

Liberals will finally understand the Laffer curve ...

The bad news is what it took to make them grasp this fundamental Reagan era truth. “ Standard and Poor’s decision to downgrade its outlook for British sovereign debt from “stable” to “negative” should be a wake-up call for the US Congress and administration. Let us hope they wake up. Under President Barack Obama’s budget plan, the federal debt is exploding. To be precise, it is rising – and will continue to rise – much faster than gross domestic product, a measure of America’s ability to service it. The federal debt was equivalent to 41 per cent of GDP at the end of 2008; the Congressional Budget Office projects it will increase to 82 per cent of GDP in 10 years. With no change in policy, it could hit 100 per cent of GDP in just another five years. - [John Taylor Exploding debt threatens America]  ” Cuzzin Ricky reminds me that all this is BEFORE the coming, certain, unprecedented ramp-up in entitlement programs.  When gummint needs 100% of your income to feed itself, 100% of your get-up-and-go has already got up and went. The fundamental lesson of Laffer is that at some point the tax on income burden becomes so great as to destroy the  incentive to work.  Liberals viewed this as foolish thinking, if not heretical.  WTF?  After the smart money, job creation wealth, flees the country,  it seems to me that one of two things must happen. The nation collapses into anarchy (the scripted result?), or government seizure of "we the people" at bayonet point, a.k.a. the "c" word (the scripted result?)! Hail the One, and gird your loins!