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The obscenity of economists…

July 10, 2009 2 comments

Posted to the blog, angrybear.blogspot.com, a debate among economists over whether you can be compelled to work harder and longer if government increases its burden on you. Or, whether you can be convinced to work harder and longer by reducing your taxes:

How hard are you willing to work to keep that Bass Boat and the Lake Cabin even as the taxes on them are “killing you”? Are you really going to cut back your overtime in response to a tax increase if it means giving up your Season Ski Pass?”

Our response to the debate was short and sweet:

This is truly an astonishing statement.

The idea that people can be led to work themselves harder in order to offset the burden of government – which, I suppose, can be extended to inflation as well – reveals the depth of cruelty inherent in mainstream economic policy.

It really does not matter whether tax cuts or tax increases will make people work more, it is just horrifying economists would be debating how government might get them to work harder – even as 9.4 million are collecting unemployment.

This is just incredible!!

Shame on you.

To which we felt it necessary to add this addendum:

AM I THE ONLY ONE WHO THINKS IT IS NOT THE ROLE OF GOVERNMENT TO CONVERT SOCIETY INTO A PRISON HOUSE OF LABOR – NO MATTER THAT THIS GOAL IS ACHIEVED BY REDUCING TAXES OR INCREASING THEM???????

THIS DEBATE IS AN OBSCENITY!

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9.4 million collecting unemployment, not 6.9 million…

July 10, 2009 Leave a comment
Created by Mish's Blog: Continuing claims reach record level, but don't include 2.5 million unemployed collecting claims under emergency extended benefits

Created by Mish's Blog: Continuing claims reach record level, but don't include 2.5 million unemployed collecting claims under emergency extended benefits

Definition is everything, according to Mish’s Blog.

What some people might count as among the number of Americans actually collecting unemployment, Washington conveniently fails to count when they publish data on continuing claims – 2.5 million people to be exact:

As noted in Continuing Claims Soar by 159,000 to New Record the record continuing claims number is dramatically understated by over 2.5 million … The continuing claims number that mainsteam media focuses on is 6,883,000 … However, that number ignores extended benefits from the Emergency Unemployment Compensation (EUC) program.

You’re gonna need a bigger boat…