Liberals DO Understand EconomicsSubmitted by Bryan Paul on Wed, 01/02/2013 - 21:58
...but they cannot project their understanding onto practical issues or else they would routinely debunk their own ideology. I witnessed this phenomenon twice during today's sessions of Congress.
Case 1: Rep. Carolyn Maloney (D-NY) was arguing for a House vote on the bill granting Hurricane Sandy federal relief to the Northeast states. She argued that the Northeast is comprised of "donor states", meaning they always give more to the federal government than they receive back in federal aid (I did not fact check this because it is besides the point).
Liberal conclusion: Therefore Congress needs to send this federal aid immediately - it's only fair!
Logical conclusion: Don't be a donor state, because you are clearly not getting your money's worth, as you've just acknowledged. If all the money collected from your state were instead kept in your state, perhaps you wouldn't need to rely on the Federal government to provide financial aid in the first place.
Case 2: Senator Kent Conrad (D-ND) was upset over rich people relocating their businesses to the Cayman Islands, where they go to avoid taxes. He then added, for liberal emotional effect, that "No business is actually going on there - only monkey business".
Liberal conclusion: Force businesses to stay in America so they can pay taxes.
Logical conclusion: Reduce taxes on the wealthy business owners in this country, and those businessmen would come back; if the principle that lower taxes attracts business is true to the Cayman Islands, it is certainly true to the United States as well.
Of course, you all know this. Got any other examples?