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Sunday, April 03, 2011 ISSUE #649

When Will knows more economics than Congress, the country is in deep trouble
April 3, 2011

    COLUMBUS: I learned a new word this week. "Muffin top" is another word for fat. Another term we’re learning more about is macro-economics, which means "a whole lot of money". See, our government is spending 3700 Billion dollars this year, and 1700 Billion of it is added to a credit card. That’s macro-economics.

    President Obama says cutting this 3700 Billion dollar budget by 10 Billion is "reasonable". Senator Schumer says any cut greater than 30 Billion is "extreme". Congressman Ryan of Wisconsin wants to cut $400 Billion a year, and Lord knows what words Democrats will use to describe that cut. (Probably some of the same ones they use on the Wisconsin Governor.)

    It’s hard to take some of these boys serious.  When 40 percent of the money you are spending is borrowed, and you call a 1 percent cut "extreme" it makes us wonder how you ever got past eighth grade. First, you need to cut the "muffin top" out of the budget.

    Then move on to some of the lean. When the only booming housing and real estate market in the whole country is around Washington, DC, it is time to turn loose a bunch of federal folks. They are good people, smart people, and they can go back where they came from, start a business or get a job, and make a useful contribution to the country.

    General Electric is criticized because they paid no taxes on a $14 Billion profit last year. They are following the tax laws, but GE employs a thousand people just to find the loopholes. I imagine that same bunch also spends a bit of time figuring out ways to reduce their personal taxes, too. You can’t blame them. But if the laws were changed to eliminate these corporate taxes, instead of accountants GE could hire a thousand engineers and produce something worthwhile. If you add up all the various taxes GE and their employees pay, you might not worry about the taxes they don’t pay.

    On Saturday night, while some of you were in Detroit watching Charley Sheen, I was in Columbus for Jeanne Robertson’s Comedy with Class show. For Charley, the audience booed, walked out early and demanded their money back. For Jeanne, we were too busy laughing to even think about leaving early. You can see Charley in reruns of Two and a Half Men. You can see Jeanne on YouTube. She’s so tall you’ll think her show should be One and a Half Women.

Historic quotes by Will Rogers:

    "It costs ten times more to govern us than it used to, and we are not governed one-tenth as good."
DT #1770, March 27, 1932

    "The crime of taxation is not in the taking it, it's in the way that it's spent." DT #1764, March 20, 1932

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