Tuesday, December 13, 2011

Sarah sez


One in series that takes a look at some of the wild, zany and madcap things said by the former governor of Alaska.

Proving no shortage of ridiculous things in which to say, Palin was commenting on the sluggish economy and the current debate in Washington regarding taxing the rich and what the rich mean to job creation.

"Millionaire job creators are like unicorns,” said Palin. “They are impossible to find and don’t exist.”

“Republicans say the richest of the rich in our country … shouldn’t contribute more to put our economy back on track,” said Palin. “They call our plan time after time a ‘tax on job creators,’ and I say so-called job creators because … every shred of evidence contradicts this red herring."

Of course, that wasn't Palin rather the Senate majority leader, poor ol' Harry Reid on the floor of the Senate yesterday.

Have a listen:

Citing NPR to bolster your argument probably isn't the sturdiest bit of backing Reid could have chosen.

And since you seem to be flailing a little, Senator, allow us to help locate one of these apocryphal job creators. Here's American Petroleum Institute President and CEO Jack Gerard (hey, betcha he's probably a millionaire) on jobs and revenue generation:

"Some people still don't get it. And some have resorted to various antics to distort the facts about our industry's ability to create jobs, to provide an economic stimulus to our economy, and increase revenues to the federal government. We're here today to clear up any confusion that was raised recently in a letter to API by Congressman Edward Markey. ... His letter illustrates the typical misunderstandings about important industry facts and how that misunderstanding can lead to public policies that hinder, rather than help, job creation and economic growth."
(italics, ours)

We're glad Gerard made that point because every time we hear about increasing revenues with respect to the budget, it is always... always couched in terms of raising taxes when no one, even the Republicans get caught in this trap, talk about pro-growth economic policies that will bring additional revenue into the cophers of the federal government. Please note for yourself this phenomena and let us know if we're wrong.

More Gerard:

Congressman Markey and other critics now appear to be calling into question the very use of multipliers to project job impacts. Not only is this concept accepted by almost all mainstream economists, but Dr. Wassily Leontief won a Nobel Prize for developing the input/output methodology that includes this effect. In fact, most recent estimates of jobs impacts, including estimates of the administration's recent jobs proposal, include direct, indirect and induced effects in their calculations. The critical point is that indirect and induced jobs created by the oil and natural gas sector are real jobs that will employ real Americans."
(italics, again, ours)

Multipliers... hmmmmm... where have we heard that before?

That's right. The reason Reid and fellow statists like House minority leader, Nancy Pelosi and White House Press Secretary Jay Carney don't believe the rich create jobs or believe in a private sector multiplier effect is because they believe that food stamps and unemployment benefits are the real job creators in this economy. And the way this particular economy is sputtering along, who could blame them? It's not exactly like it's been a conducive environment for the evil rich to invest in hiring so, in a sense, one would never know the difference.

It doesn't take an economics degree to realize just how hopelessly delusional it is to champion unemployment benefits over that of the wealth-generators in this country with respect to getting this economy up and roaring again.

Yep, we're in the very best of hands.

P.S. We also think that Obama's BFF Warren Buffet would be pleased to know that Harry Reid simply doesn't think he exists.

1 comment:

Harrison said...

Harry Reid never fails to amaze me with his stupidity or the people who keep voting him into office.