Thursday, October 28, 2010

Kill the Corporate Income Tax

Megan McArdle explains why we should eliminate the corporate income tax.

Among the reasons:
You can't tax a corporation; you can only tax a person...

The incidence of "corporate" taxes is not necessarily progressive.

The corporate income tax encourages firms to use debt finance, rather than equity. Debt finance makes companies riskier.

You can't eliminate all the loopholes

The corporate income tax encourages firms to waste resources on tax avoidance, etc.
She explains it all pretty well. But nobody tell Joe Sestak. He finds the idea "very scary."

Keeping Up Appearances

This looks a little fishy. Democrats borrow millions from the Bank of America, putting up little collateral to speak of. This after they bailed out B of A to the tune of billions of dollars. Now B of A will lend money to the Democratic party to pay for political ads claiming their own incorruptibility and trashing their Republican opponents.

Meanwhile, Democrat Barney Frank takes a bunch of money from financial institutions that he regulates after saying he wouldn't, which might help explain this.

How do these guys keep a straight face?

Get Outta Here!

The Obama Administration seems to keep our ex-president pretty busy trying to get Democrats to drop out of races when they don't like the look of how they're going to turn out.

Maybe Mr. Clinton offered Meek that "unpaid advisors job" Joe Sestak supposedly turned down last year. Anything more meaningful would, of course, be against the law.

It seems Obama's new strategy to beat Republicans is to secretly endorse them:

Lela loves Cake Eye Candy! by Cake designer, Sweet Sweets Cake Art

Hello Lovelies!

When I saw these beautiful cake images sent in by Cake designer Sweet Sweets Cake Art I died!
They are so beautifully designed and make for amazing eye candy! So of course I had to share ;)

My favorite is the pearls with colorful vintage buttons. Swoon!

Enjoy!





Dionne Slurps Joe's Bilge

WaPo's E.J. Dionne tries to prop up Joe Sestak from Inside the Beltway. Somehow he hopes Pa. voters will confuse Pat Toomey with Christine "I'm not a Witch" O'Donnell. Maybe they will. What can you expect from people who cling to their religions and guns and hatred for people not like themselves. Or so seems to go the thinking of some liberals these days.

Dionne writes:
You might also imagine, from all the times he cites it, that Sestak's favorite book is Toomey's 2009 supply-side manifesto, "The Road to Prosperity," which endorses private accounts for Social Security and a moratorium on all corporate taxes.

"Congressman Toomey is not a witch," Sestak loves to say, "but his book is very scary."
Ha! As if Joe Sestak has bothered to read Toomey's book, much less understand it. It's obvious he's had some staffer comb through it for anything that his campaign believes can be used to scare voters. During a meeting with the Daily Times Editorial Board, Joe cited Toomey's use of the phrase "creative destruction" when it comes to jobs. Ooooh.

When I pointed out to him that wasn't Toomey's phrase, it was economist Joseph Schumpeter's to explain how a modern industrial economy works, Sestak was mystified. "No, it's in (Toomey's) book," he said. What's scarier? Pat's book or Joe's ignorance?
A Sestak victory would be an especially powerful tonic for progressives because the former admiral has been brave in supporting trials for the Guantanamo detainees...
Dionne is either being evasive here or dumb.

Everyone supports trials for Guantanomo detainees, just not civilian trials. Khalid Sheikh Mohammed is a foreign terrorist captured on foreign soil and responsible for planning the 9/11 attacks. Sestak supported trying him in Pennsylvania, of all places. KSM should be tried in a military court. As ads for Toomey have pointed out, neither Ed Rendell, Bob Casey or Arlen Specter believe in civilians trials for foreign terrorists. Just Joe. It's not only unnecessary and stupid, it's dangerous. No wonder progressives want it.

If Joe wins next week, and he's still behind in the polls, it won't be because of "brave" stance on where to try terrorists. It will be in spite of it.
What comes across when you talk with Sestak is an utter lack of defensiveness. Democrats, he says, "should be proud of what they've done."
Lack of defensiveness. Hmm. He told us voting for the stimulus made him "sick." No wonder he didn't sound defensive to Dionne. He was talking to a like-minded liberal, and one that slurps up junk like this:
"You don't run a ship from the bridge," he says. "You run it from the boiler room." Leaders, he says, need to persuade voters "that we know who they are."
That might sound good to a Beltway pundit but it's complete baloney. Ship captains do run their ships from the bridge, not from the boiler room. The idea that as an admiral, Sestak spent most of his hours below deck making sure the boiler worked is patently ridiculous. And only a progressive could buy such bilge.

Muslims Removed from Flight: How Convenient!

I recently started getting a lot of emails from CAIR (The Council on American Islamic Relations). CAIR is the muslim civil rights/victims group that pretends to be interested in combating Islamophobia but in reality fans those flames for its own ends.

This morning I discovered an e-mail with a link to a story about a family dressed in Muslim garb being removed from a flight to Memphis. To CAIR this is an example of how Muslims are mistreated in this country. But how coincidental. Just a week after Juan Williams was fired for expressing his concern whenever he sees people dressed in Muslim garb in airports, a "Muslim family" boards an airplane in Muslim garb and acts suspiciously enough to be removed from the flight.

If this wasn't a planned act to intentionally upset fellow passengers and force the airline's hand, I'll eat my hat. (Better yet, I'll eat the hat John Kerry brought back from Vietnam that was supposed to prove something but I can't remember what.)

CAIR was the first group to complain about what Juan Williams said and demand he be disciplined. Now it is pushing a story that purports to prove American intolerance against Muslims. It is far more likely that the "family" in question sought to provoke the very reaction it got by behaving suspiciously. It will be interesting to hear what the other passengers have to say about the incident over the next 24 hours.

Stay tuned.

The U.S. Senate is a Lawyer Joke

Here's one of the best ads of the 2010 campaign: