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Do we have to become France?

07 May

Once again the economic statistics are bad. Very few (115,000) jobs were created in April and 342,000 people dropped out of the labor force.  Think about that.  More than twice as many people dropped out of the labor force as found employment.  To paraphrase Martha Stewart, that is a bad thing.

The labor force participation rate is now at a multi-decade low of 63.6%.  That means that the economy is so bad that many people have just stopped looking for work. If the labor force participation rate were the same as when George W. Bush left office (65.8%), unemployment would be in the range of 11.2%.

Source: zerohedge.com

This is the sign of an economy that is continuing to struggle.

President Obama, of course, wants more taxes, more government programs and more regulation as his response to this ongoing economic slump.  Taxing those pesky rich people is the solution!

Not surprisingly, the election of a Socialist to the French Presidency has already led to speculation as to how many people will leave France for friendlier tax regimes to avoid tax increases.  Closer to home, California is looking at huge holes in its budget and has already experienced an outflow of higher income people as California continues its tax onslaught against prosperity.

Here is a basic math lesson for France and California. If you raise taxes and people leave, then no matter how high the tax rate the revenues to the treasury will be zero, since any number times zero is zero.  Liberals might actually be happy with tax rates over 100%! They can feel good about themselves and preen about “fairness”, but when all is said and done, 100% of zero is still zero. It’s just math as the President likes to say.

It’s not too late for us to avoid becoming France, but Obama has to be stopped at the polls. The country needs spending restraint, a lower federal deficit, lower taxes and less regulation. Then a free market will do what it always will do; create growth, prosperity and jobs.

President Obama continues to think that government spending will create growth. He could not be more wrong. What drives economic growth is private sector investment.

Do you think that the Obama administration gets it? I doubt it. As the President travels around campaigning in front of naïve college students I see the desperate demagogic gasping of a failed President who may be more at home in France.  Au revoir!

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4 Comments

Posted by on May 7, 2012 in politics

 

4 responses to “Do we have to become France?

  1. walthe310

    May 7, 2012 at 7:16 pm

    Vertical scale on your graph is very misleading with numbers too small to read easily. Actually, Mitt speaks French and is more at home in France than Barack is. The French will never leave France, and Californians leave California only when they can no longer afford the good life. That is more a function of GOP obstruction in Sacramento and failed GOP economics in Washington.

     
    • P. Henry Saddleburr

      May 7, 2012 at 9:19 pm

      You’re wrong.

      But if you make assertions about GOP obstruction in Democratically controlled California and GOP obstruction in the nation’s capitol, where Democrats ruled the roost until the GOP wrestled back a single body within the structure of government, you’ll simply have to make your case.

      I assert that Democrats are locusts, stripping the foliage from everything they see. Then, when they begin starving, they move to new feeding grounds.

      You see it in Nevada. You see it all throughout the Southeast. Vagabonds from failed liberal strongholds.

      As for your idiotic assertions, I’ll need facts and figures, sir. That you can’t read a simple chart doesn’t bode well. You can’t make your case.

       
  2. P. Henry Saddleburr

    May 7, 2012 at 9:10 pm

    Obama and the Socialists in general don’t give a fig about economic growth. They pretend to take measures to improve the numbers, but in private they celebrate this national enslavement.

    They’re not even about economic fairness as they advertise. They’re not about leveling the playing field. This is all rhetoric to lure in the disaffected.

    The Socialists are all about revenge for the envious. They are now the government exacting that revenge and they are armed and dangerous.

    This chart displays what is really going on. More people are gaming the system than ever, at the urging of this gangster government.

    And those of us who carry the load or who will be asked to pay for Obama’s debt might soon cash in our chips too. I don’t intend to be abused forever.

    That’s why this year’s election is the most important election ever.

    If the nation decides to go the way of Greece and France, all bets are off.

     
  3. Martin M. McMartin

    May 8, 2012 at 5:06 am

    Barack Obama is more politically aligned with Socialist François Hollande than he is with our founding fathers. The elections in France and Greece are not encouraging and support the truism, “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s greatest civilizations has been 200 years.”
    ― Alexis de Tocqueville

     

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