Wednesday, November 21, 2012

Have you paused to consider what the economic impact of the tax increase the MEC is insisting on would be?

The Most Economic Comrade, as has been noted on this blog, is blackmailing America.  He swears he'll veto any plan for avoiding the Fiscal Cliff that does not involve a tax increase on America's most successful.

How stupid does he think you are?  Surely he knows all you have to do is click your mouse a few times and you have the Heritage Foundation's / Ernst & Young's numbers for the resultant economic damage available for citing.

It would result in the following:

• Unemployment would rise 0.5 percent, which translates to 710,000 fewer jobs...

• Real after-tax wages would fall by 1.8 percent...

• GDP would fall by 1.3 percent...

• Capital stock and investment would drop by 1.4 percent and 2.4 percent, respectively

So you have to ask yourself, how is this rapidly accelerating decline not deliberate?


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