About This Blog

Ludwig von Mises (1881-1973) was the greatest economist of my time. His greatest works can be accessed here at no charge.

Mises believed that property, freedom and peace are and should be the hallmarks of a satisfying and prosperous society. I agree. Mises proved beyond a shadow of a doubt that the prospect for general and individual prosperity is maximized, indeed, is only possible, if the principle of private property reigns supreme. What's yours is yours. What's mine is mine. When the line between yours and mine is smudged, the door to conflict opens. Without freedom (individual liberty of action) the principle of private property is neutered and the free market, which is the child of property and freedom and the mother of prosperity and satisfaction, cannot exist. Peace is the goal of a prosperous and satisfying society of free individuals, not peace which is purchased by submission to the enemies of property and freedom, but peace which results from the unyielding defense of these principles against all who challenge them.

In this blog I measure American society against the metrics of property, freedom and peace.

Thursday, August 25, 2011

Tax Increases Create Jobs And Stimulate "The Economy"

You don't believe it? Then you must be one of those neanderthal Republicans or conservatives or libertarians or classical liberals, etc. etc. etc.

Read a liberal/progressive blog these days and your bound to be bombarded by headlines such as these: AGAIN - The Bush Tax Cuts Did Not Create Jobs! and At Town Hall, GOP Rep. Hultgren Can't Explain How Bush Tax Cuts Created Jobs.

Blog posts such as these are extremely popular now because the left is trying to gin up support for tax increases on the "rich." These posts regularly mention the "fact" that while the Bush Tax Cuts didn't create jobs the Clinton tax increases of 1993 created 22 million jobs in eight years and balanced the federal budget.

[By the way, the chart included in the links above does not show monthly jobs created or lost during the period shown. It illustrates the difference between jobs actually created and jobs predicted to be created by the Bush administration due to the Bush Tax Cuts. In truth, 2.4 million jobs were created during the period shown in the chart. The questions progressives refuse to answer are: Who created these jobs and why? How many of these 2.4 million jobs were created due to the Bush Tax Cuts? How many would have been created without the Bush Tax Cuts? What is the theoretical economic argument which explains the contention that tax increases create jobs?]

If you want the full and truthful scoop on all this, read or re-read: The Clinton Tax Myth by Yossi Gestetner.

If you want the full and reasonable economic theory, read Ludwig von Mises.


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