Economics


Since so many of us have ADD, here’s a nice video from Reason.TV about who pays what in taxes.

I love this post from Pursuing Holiness writer Laura:

Enough, already. I’m going on strike.

She writes:

I’m not anti-government or even anti-social programs.  I was on welfare myself.  The system helped me tremendously so that I progressed from being without any decent job skills to clerical work to computer work – and owning a small business.  In the long term, I’ve given back much more to society than I’ve taken, both in my personal giving and in my tax receipts.  But the massive increases in entitlements – both in attitudes and in planned spending – have convinced me it’s gone too far.

This is sober-minded post about why so many people are frustrated with the stimulus and housing plans from the government.

Many of us have no problem with temporary government payments to help someone get on their feet.  Many of us have no problem with giving hundreds or thousands of dollars per month to charities and churches who serve homeless or other populations.

However, there is a HUGE difference between charity and a mooching lifestyle.  There’s a HUGE difference between ACORN- funded by taxpayers- breaking into a houses and demanding lower payments for someone- funded by taxpayers.

Charity is fine.  Home ownership is a right?  No thank you.  What is so wrong with renting?

It’s entitlement, it’s gross, and it’s wrong.

From AP via Yahoo! News:

AP IMPACT: Jobless hit with bank fees on benefits

It seems banks are charging fees for their services!  CAN YOU BELIEVE IT?!

The humanity. The money quote:

“They’re trying to use my money to make money,” said Santa-Maria, a laid-off engineer who lives just outside Albuquerque, N.M. “I just see banks trying to make that 50 cents or a buck and a half when I should be given the service for free.”

I find the article rather interesting.  It focuses on the evil banks charging for their services, but does not mention one of the biggest gotchas with unemployment benefits: you pay tax on it!

That’s right- if you’ve ever been so lucky to be laid off (I have) you’ll see “the man” giveth and “the man” taketh away.  It’s a beautiful thing, no?

Such a strange combination of housing/economic/laissez faire is dead stories over the last few days.

Forbes.com – Laissez-Faire Capitalism Has Failed

I see, we need more intervention to make everything better.   Please continue to force banks to give us more loans we cannot afford.  What’s DiTech’s number again?

Economist.com – Can’t pay or won’t pay? Barack Obama’s team wades into a debate over what is driving foreclosures.

Everyday people without PhDs in economics get it.  Michelle Malkin has great coverage on the Obama protests in Arizona.

Sowell’s latest column on the crisis is perfect:

Government regulators refused to approve such decisions when a lender was under investigation for not producing satisfactory statistics on loans to low-income people or minorities.

Under growing pressures from both the Clinton administration and later the George W. Bush administration, banks began to lower their lending standards.

Mortgage loans with no down payment, no income verification and other “creative” financial arrangements abounded. Although this was done under pressures begun in the name of the poor and minorities, people who were neither could also get these mortgage loans.

That’s the free market?  Come on.

Strange indeed.

Perhaps Bill and Ted said it better:

These people in Arizona have it right. (Michelle Malkin)

How far are we away from this (below)?

Click here to see the entire illustrated booklet.

How about neither?