Recall Walker?

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Wanted: one Veto-Man!

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.Nobody likes to have salary/privileges cut, so it’s not surprising that first reactions to Walkers budget cuts in March 2011 included rebellion and threats of recall.
But beyond the initial frustration of living through budget and bargaining privilege cuts, recallers should consider where a recall would steer us.
Suppose the recall is successful; what happens next?

Will the recession go away?

Answer: No

Who will replace Walker?

What politician would consider the politically suicidal prospect of governing with both legislatures controlled by the opposition?  Little other than a long list of vetoes would head his/her potential portfolio of accomplishments.

Is there a delusional narcissist, a fictional masochistic super hero to be found in Wisconsin who would find this proposition attractive?
Classifieds:  WANTED: One Veto-Man!

Recallers are already struggling to find a replacement.
Russ Feingold has already said no.

Further down the line

What other jobs would the Governor’s replacement face? continue reading…

Taxing the Rich

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Thou Shalt Not Kill Thy Neighbor’s Cow

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Does President Obama Know How to Count?

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Brainstorming for a title for my article on the merits of  “taxing the rich,” I stumbled across an article entitled “Killing Your Neighbor’s Cow: The Defining Sin or Our Times.” The relevancy of this concept to my article was so striking that I borrowed it.  I am grateful to Charles Colson of Catholic Exchange for his perceptive article, which is well worth reading.  (We’ll get to the cow later. Or scroll down.)

US and China Deficits

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Outlining the Problem

• The US has a two-pronged financial problem; an annual deficit, and an accumulated debt.
• Obviously we must find solutions to the problem.
• Continued borrowing is destabilizing our international status and our economy.
• Our national debt is 34 times higher than China’s.
• We must stop spending or find a new source of income.
• Political leaders like Wisconsin’s Governor Walker try to reduce spending and are vilified and threatened with recall.
• Political leaders like President Obama try to find new sources of tax income with popular slogans like “tax the rich,” a concept which, not surprisingly, seems to have much public appeal.  The concept of dipping into Scrooge McDuck’s seemingly limitless wealth is, on the surface, quite attractive.

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Is “Tax the Rich” a Realistic Solution to the Problem?

Scrooge McDuck

Kevin D. Williamson analyzed the possibilities regarding taxing the rich in the United States in his National Review Online Article

Define the goal:
National Debt: 15 trillion  ($15,000,000,000,000)
Yearly Deficit: 1.3 trillion ($1,300,000,000,000)

Define the rich:
Definition A:  households earning $250,000 ($250K)
Definition B: households earning $1,000,000 ($1 million)

The “Rich” as Those Who Earn $250K Annually

There are 2.2 million households in the US earning more than $250K.  To raise enough money to wipe out the annual deficit of 1.3 trillion, each of these households would have to pay $600K per year ( more than twice their entire income). continue reading…