Ben Stein was on the tube last night calling for higher capital gains taxes making the argument that we've had higher taxes in the past and the economy did just fine, in fact boomed. Now, I know the guy has heard of the Laffer Curve and so have you if you've ever been within shouting distance of me, so what in Hades is he talking about? Taxes are there to generate revenue for the government without harming productivity. Taxes shouldn't be for reward or punishment. And just because capital gains or marginal rates were at one rate under Bill Clinton doesn't necessarily mean that particular rate will be appropriate in today's situation. That's like saying it's bottom of the 9th., we're two runs behind and down to our last out so we should bunt because that's what the Orioles did against the L. A. Dodgers in '66 World Series and THEY won the game. Nevermind that the Orioles had speedster Paul Blair on third and we've got our fat-ass 1st. baseman just brought up from AAA and he's got a bum knee. See what I mean? Situations are different and there's as much art as there is science to running a modern economy. Bill Clinton said it himself, raising taxes in a weak economy is crazy! You might get away with it in boom times like Clinton enjoyed (thanks to being handed a strong economy by George I & Reagan) but if you do it now, in this very weak economic environment, then you're just dialing up a major recession. It's just disturbing when a guy like Stein doesn't know this.
The Blog: A compendium of thoughts on politics, world affairs, economics, pop culture and social issues, from the center right perspective of me--Bryan McGrath--a University of Virginia graduate who spent a career in the world's greatest Navy keeping my mouth shut about politics and social issues (ok, publicly keeping it shut). Those days are over! I've also invited a few friends to join in, so pull up a chair and chime in where you will. Keep it clean, civil, concise and relevant.
The Fish: The fish is a "coat of arms" for the blog, symbolizing three formative influences in the life of the blog founder. The first is his experience at the University of Virginia--symbolized most importantly by the fish itself, or a caricature of a "Wahoo", the fish we have acquired as an informal nickname. Additionally there is the sword, the sword of a Cavalier. It is not wielded in a threatening manner, as this is a civil blog. But it is there, should it be needed. Thirdly, there is the influence of 21 years in the Navy--symbolized by the anchor on the Wahoo's fin (and again, the sword) . Finally, there is the bowler, tuxedo, and monocle, symbols of a refined, intellectual conservatism, or what I seek to encourage here.
The Policy: I take FULL responsibility ONLY for what I write. I do not take responsibility, nor will I be held responsible, for what my guest bloggers write or for what those who offer comments write. I will occasionally exercise my right to edit/delete both blog posts and comments if they do not meet my view of what clean, civil, concise and relevant mean.
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