Recently in a conversation with a conservative friend, I expressed deep concern for the managing of the federal budget. Donald Trump’s lack of awareness is again driving our budget to trillion dollar deficits and fiscal conservatives are hiding under their desks. To which my friend predictably replied, “Whatabout President Obama? He doubled the national debt… Continue reading Fiscal Conservatives Should Love Obama
When Barack Obama was re-elected to the presidency last November, House Speaker John Boehner observed, “the American people have spoken. They have re-elected President Obama. And they have again elected a Republican majority in the House of Representatives.” Republican House Minority Leader Mitch McConnell noted that the voters, “have simply given [Obama] more time to… Continue reading 2012 Election Not a Mandate for More Gridlock
The United States budget can be broken into two groups, DISCRETIONARY spending and MANDATORY spending. About 7% of the budget is interest paid on our debt – which will only increase, but should also be considered mandatory as defaulting is not an option. As you can probably guess mandatory spending is outside of the President’s… Continue reading Understanding the US Budget
When President Barack Obama took the oath of office on January 20, 2009, the U.S. economy was in free fall. During the preceding year and half, some of the nation’s largest and most important financial institutions went bankrupt, including Bear Stearns, Countrywide, and Lehman Brothers, as risky loans and other investments failed. Many other large… Continue reading An Economy on the Rebound
Mitt Romney’s nomination as the 2012 Republican candidate for President is an important and historical moment for me and many other members of the Church of Jesus Christ of Latter-day Saints across the U.S. and the world. A thick glass ceiling was shattered when Romney, a prominent member of my faith, overcame anti-Mormon bigotry prevalent… Continue reading The Case Against Mitt Romney
Remarks that Mitt Romney made to wealthy donors back in May 2012, have put Romney in an awkward position. Romney denigrated nearly half of the population of the U.S. and erroneously claimed that Obama supporters were all dependent on government assistance. After receiving a question about how Romney would be able to win the election,… Continue reading Does Romney Believe Laziness Causing High Unemployment?
After losing the South Carolina Primary to Newt Gingrich, possibly in part due to his waffling at the pre-Primary debates about releasing his tax returns, Mitt Romney released his tax returns for the past two years, which show that he paid about 14% in federal taxes on income of nearly $43 million. The timing of… Continue reading Thank Romney for Underscoring Need for “Buffet Rule”
Conservatives often invoke our country’s Founding Fathers as well as prominent historical figures like economist Adam Smith, whose ideas about the “invisible hand” of free markets helped form the theoretical foundation of modern capitalism, when they advocate far-right economic policies. Lately, there has been a lot of talk by GOP presidential candidates about creating a… Continue reading Communists Like Thomas Jefferson and Adam Smith
To support their argument against President Obama’s calls additional revenue to solve the budget deficit, Republicans have argued that the U.S. has one of the highest corporate tax rates in the world. Democrats, on the other hand, have pointed out that companies and wealthy Americans are paying historically low levels of taxes. Paradoxically, both parties… Continue reading Taxes and Used Car Dealers
I’ve intended since the spring to write about our country’s current fiscal situation and how we arrived here. For months, Congressional Republicans have been asserting that our federal government does not have a revenue problem, it has a spending problem, and have argued for draconian spending cuts largely aimed at programs that benefit the middle… Continue reading Where Did All That Debt Come From?
In today’s New York Times, billionaire investor Warren Buffett pointed out that he pays a lower federal income tax rate than his staff. His effective tax rate last year? 17.4 percent! His is not a unique case. Our tax code is written so that the wealthiest have the best tax breaks. As the President has… Continue reading Warren Buffet Paid a Lower Tax Rate Than His Secretary in 2010
With Obama’s plan to let the Bush Tax cuts expire in 2010, there has been an onslaught of media attention concerning his budgetary decisions. Phrases like “socialism”, “re-distribution of wealth”, and “tax hikes” are being associated with President Obama’s fiscal policies to discredit his approach. Obama has been open and direct concerning who his tax… Continue reading Wake Up Middle Class!
Tax and Spend Liberals. If I had a nickel for every time I heard this phrase, I would be writing this post from an exotic hut with glass bottom floors somewhere in the French Polynesia. This negative connotation has been associated with the Democratic Party for several decades, and will be an effective talking point… Continue reading The Republican Philosophy – One Giant Credit Card
“The test of our progress is not whether we add more to the abundance of those who have much; It is whether we provide enough for those who have too little.” -FDR With the 2004 presidential election come and gone, many citizens will tune out the various debates that our lawmakers continue to engage in. … Continue reading A Moral Dilemma
Perhaps one of my passions (and an intragal part of politics and policy making) is economics. This paper was written three months before the 2004 election. (First two paragraphs of the article) Perhaps one of the most partisan debates today is the economics of monetary and fiscal policy. Many administrations in the past have implemented… Continue reading Economics Paper from 2004