by TPO O\'Halloran on May 3, 2014

Gale Minchew

What difference, at this point, does it make

by TPO O\'Halloran on April 4, 2014


In January, Secretary of State Hillary Clinton got into a heated exchange with Republican Senator Ron Johnson of Wisconsin during her testimony on Benghazi before the Senate Foreign Relations Committee. Johnson asked Clinton to ascertain whether the September 11, 2012, terrorist attack on the American consulate in Benghazi, Libya was a response to an anti-Islam YouTube video. A visibly-furious Clinton took exception to Johnson’s inquiry and shot back, “Was it because of a protest or was it because of guys out for a walk one night who decided they’d go kill some Americans? What difference, at this point, does it make?”


The Clinton Chronicles – Please Take the Time to Watch THIS!!


The Wealth of Nations

by Veronica Coffin on October 31, 2014

 

 

 

By Peter Huessy

The former Secretary of State and New York Senator, Mrs. Hillary Clinton, has informed the American people that businesses do not create jobs.

In providing Americans with a rather interesting economic perspective of how people get hired, the former First Lady then went on to let Americans know that “trickle-down economics” not only doesn’t work, but it has failed spectacularly. I suppose this is meant to mean there is somehow a connection between the policy of trickle-down economics and how jobs are either created or not created. That’s important as there are 20-24 million Americans that need full-time jobs.

It is unclear to what era of American economic life she was referencing, but as far back as America under President Calvin Coolidge we had unemployment below 3%, a balanced budget, growing personal income, and in fact the generation of budget surpluses with a top tax rate on income that had been reduced to 28%.

Maybe the answer to Mrs. Clinton’s riddle lies elsewhere.

Under President John F. Kennedy, the top tax rate was reduced from over 90% to 70%, and subsequently, in the years following, as the President then said before a Detroit audience at the prestigious Economic Club  “a rising tide lifts all boats” as millions of new jobs were created.

That does not look like a failure.

What about President Ronald Reagan? He reduced top tax rates from 70% to first 50% and then in 1986 to 28%. Both tax rate reductions were part of an across the board tax rate reduction and reform which grew the US economy between 1983-89 by some 18+ million new jobs.

And between 1993-2000, the US economy grew by another 21 million jobs, with capital gains taxes being reduced in 1996 along with companion legislation calling for a balanced budget and welfare reform.

What failed?

The former Secretary of State then references President William Clinton’s administration by saying the former President had a secret–he brought arithmetic to Washington as opposed to apparently all other administrations.

But between 2003-7, supposedly the bad Bush years, revenue to Uncle Sam zoomed upward by $800 billion a year from $1.8 to $2.6 trillion, after tax rate cuts fully kicked in around mid-2003. And about 8 million jobs were created.

Under Ronald Reagan, revenue in 1989 hit $1 trillion compared to barely $600 billion in 1983 when the Reagan recovery began. And that was with a much smaller economy than the past 5 years and 9 months between January 2009 to October 2014 when revenue is up $400 billion.

Did President Clinton say balancing the budget would be dangerous because it was just trickle down policy? Did it fail spectacularly–this idea from Republican Senator Domenici and Representative Kasich? What arithmetic does opposition to a balanced budget represent?

And was welfare reform wrong and evidence of a lack of compassion? Just another version of trickle down?

Wasn’t Speaker Gingrich just going to throw children into the street, starve grandma, and leave everyone to a dog eat dog existence? And the 8 million people, taken off the welfare rolls and put into jobs–was that “trickle down”?

And cutting capital gains taxes in 1996 was for what purpose–along with a balanced budget agreement and welfare reform–that the Republican Congress was pushing? Trickle-down economics again??

Why then would President Clinton sign this stuff into law if it had always previously failed? Remember, President Clinton did initially oppose all of this. All of it. He vetoed welfare reform not once but twice.

But he finally signed the bills. Did President Clinton finally buy into the idea of “trickle-down”? The 1996 capital gain tax rate cut really did help boom the stock market. Was that trickle-down too?

Apparently, the former Senator and Secretary of State needs some remedial economics lessons. First, trickledown economics is the sneering theory of the left that believes conservatives like extra profits and lower taxes. They then justify such perfidious policies because they then claim–in theory–that the rich will spend the money and along the way hire the middle class as a result–the carpenters will build yachts, the architects will design a bigger house, and artisans will make some new baubles for the Mrs. At least some of them will.

But trickle down is utter bunk–no one describes tax policy that way. Tax reform is the tide that lifts all boats. Coolidge, Kennedy, Reagan and Bush (43) prove it. Of course if you put more money in peoples pay checks they will spend it and the economy will benefit including some people will get new jobs. But just lowering tax rates for upper income folks–“tax cuts for the rich”–is not the economic growth philosophy of the Republican Party or of conservatives in general.

Real tax reform–lowering the corporate tax rate to attract business to America and ending the double taxation on overseas income, and lowering individual tax rates for everyone, and ending the tax on dividends and capital gains—(think Hong Kong) is what needs to be pursued so new investment occurs in a big way. Simply put, simplify the tax code and make it investment and family friendly. And that, again, includes lowering tax rates for everyone. In 1983-5 in the first three years of the Reagan recovery business investment increased by nearly $550 billion annually.

And it is the resulting new investment, and its associated risk taking, that starts new companies and thus new jobs.

A sound tax system will free up literally trillions in new business capital which is just waiting to be invested.

We now have 24 million under and unemployed Americans. Whether a doctor’s office putting out a shingle, a carpenter putting out flyers, or a lady seeking work as a care giver on-line, every entrepreneur that starts a new business hires either people to help them or hires themselves.

And the folks that start and create the new companies pay their employees first because if he or she doesn’t they do not come to work–try not paying your employees and keeping a new restaurant open!! The boss gets paid last. And only if the business is a success.

New investment equals new jobs. That requires new companies.

Maybe all those new jobs are just an expansion of existing companies? But if that is true then business does indeed create jobs.

And what about the jobs created between 1993-2000? Does the former Senator think all the jobs during the Clinton administration’s 8 years were created by the government? Or space aliens? By government spending?

Where does she think a new company and new jobs come from?

Women now start nearly two-thirds of all the new companies in America and also hire most of the new people. So maybe we ought to think of high tax rates as a “war on women”?!

Maybe the former Senator thinks the government can stimulate the economy by just spending more money. But new customers with new government checks cannot provide the income to a new business until the new business is created. Where does the money come from then to start a new business–which are after all the engine of economic growth.

Again, new customers with their new government money can only help a new store or business AFTER it opens, not BEFORE. A new store or business does not open its doors after customers line up–the customers can only show up after the business has been set up and opens its doors.

So again to explain, expanded consumer spending—government stimulus for example, otherwise known as the trickle up theory of economics, can only help OLD businesses to hire extra employees.

But that government stimulus or new spending has to run out. If the funds comes from new taxes, it reduces consumption of those taxed by an equal amount of those that get new government spending. If borrowed, someone has to pay it back which comes from taxes too. So less consumption is the result. Government stimulus is a wash–always!!

It is true investing your savings or capital in a new business means it cannot also be simultaneously used for that new car, a bigger house, a private jet or some new stereo equipment. But it does hire designers and contractors to build or remodel a building for a restaurant, for example. And a van to pick-up the food supplies. And you spend your capital buying equipment. And paying for the permits and taxes. And paying the lease. You then hope folks walk in and like your food.

And the 40 people you hire are–this is important Senator Clinton—in brand NEW JOBS. They get paid and spend their paychecks and that grows the economy. And grows revenue to the government. If the new hires previously had jobs, those jobs are now vacant and others, including unemployed folks, will now fill those jobs. That grows the economy and the Middle Class and reduces unemployment.

Its called free enterprise, entrepreneurship, something Adam Smith wrote about in 1776 in a book called The Wealth of Nations. Maybe the lady from Arkansas might read it.

 

 

ZHillary
In a bit of unintentional comedy, former Secretary of State and presumptive 2016 presidential candidate Hillary Clinton spoke about the supposed dangers of “trickle-down” economics.

 

On Friday, Hillary appeared at a rally in Boston for Democrat gubernatorial candidate Martha Coakley. Here, she demonstrated her stunning lack of economic understanding by chiding,
“Don’t let anybody tell you it’s corporations and businesses create jobs,” Hillary said.
“You know that old theory, ‘trickle-down economics,’” she continued. “That has been tried, that has failed. It has failed rather spectacularly.”
“You know, one of the things my husband says when people say ‘Well, what did you bring to Washington,’ he said, ‘Well, I brought arithmetic,’” Clinton said.
Therein lies the central difference between the left and right on fiscal matters: like the Soviets of yesteryear, the left simply cannot fathom a world where government is not the hub of innovation and economic prosperity. However, even a cursory review of history will reveal the lunacy of such an idea that corporations and businesses do not create jobs.
Further, it’s simply amazing that both Hillary and her philandering husband cannot grasp the economic harvest reaped thanks to Reagan’s (and to a lesser extent, George H.W. Bush’s) trickle-down economics.
In the ‘80’s and early ‘90’s, the Bill Gates and Steve Jobs of the world were relatively unhindered by the punishing taxation and overregulation that has become standard in Obama’s America. By fostering those who build businesses, more and more were employed and the dotcom boom exploded on Bill Clinton’s watch.
In short: thanks to “trickle-down” economics, America was able to coast on the benefits for a decade after big-government proponents came to the Oval Office.
Trickle-down economics is an economic practice that recognizes certain realities.
1) Not everyone will be an astronaut or a doctor. We live in a world where, despite what liberals like to believe, our outcomes are and should be different based on a variety of factors. Some people are uneducated or possess less-desirable skills and those people work for successful businesses and corporations.
2) The more these businesses are allowed to thrive, grow and expand, the more people the businesses may employ. Therefore, in a simplified sense, bolstering the growth of businesses and corporations allows for a strengthening of the middle and lower classes.
Hence, why the term is “trickle-down”…
Of course, this theory only works when we assume that citizens are chiefly responsible for themselves and their families. When we foster government dependence, the promise of welfare, food stamps and other associated government programs undermines the necessity for people to work. “Trickle-down economics” only work when government’s presence is fairly limited in the market and businesses are free to grow and employ.
In truth, Hillary is correct in that “trickle-down” does not work when it is routinely undercut by the choice of working or receiving “free” money and services.

The Many Accomplishments of Hillary Clinton

October 25, 2014

    By Dr. Eowyn Dick Morris was a friend and long-time adviser to Bill Clinton, beginning when Bill was Governor of Arkansas. Morris became a political adviser to the White House after Clinton was elected president in 1992, and the campaign manager of Bill’s successful 1996 bid for re-election. In other words, Dick Morris knows […]

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Hillary Clinton Complains About Rising Tuition At $225K University Speech [VIDEO]

October 14, 2014

Email this page    By Chuck Ross Former Secretary of State Hillary Clinton lamented increasing student debt at a speech she gave Monday for which she was paid $225,000 by a university that recently announced it would raise its tuition by 17 percent over four years. “Millions of other young people are burdened by student […]

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Dems Overdo Clintons’ Anniversary Just A Tad

October 12, 2014

      By Robert Gehl Apparently, it’s Bill and Hillary’s 39th wedding anniversary. Did you get them a card? That’s OK, because the Democratic National Committee went ahead and just slightly overdid it in their congratulatory tweet.   39 years of marriage never looked so good. Happy anniversary, @billclinton and @hillaryclinton! pic.twitter.com/6SYGtHc3DG — The […]

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Take notes, GOP: Hillary Clinton reveals her weakness heading into 2016

October 10, 2014

Email this page  **Written by Doug Powers Speaking to the Economic Club of Chicago, Hillary Clinton let down her guard for just a second:   Clinton on how she first said no to Bill's marriage proposal and Obama's job proposal: "Charismatic, attractive men wear me out." — Dan Merica (@danmericaCNN) October 9, 2014 She might […]

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How Hillary Clinton Enabled Hamas’ Construction of Terror Tunnels

October 8, 2014

      Hillary Clinton. Photo: Wikimedia Commons. As Hillary and her supporters keep looking for her “accomplishments”, any accomplishments as Secretary of State… here is something to consider that certainly won’t help her!  AM~ The Algemeiner: Much has been said and written about the terror tunnels that Hamas built in Gaza. But too little […]

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Paranoid Clinton Orders Reporters Followed Into Bathroom

September 26, 2014

    By Robert Gehl The Clintons are so paranoid of the press, they even follow reporters into the bathroom. This happened to The New York Times’ Amy Chozick, who was attending a “Clinton Global Initiative” event where the President (and apparently future President) were going to speak. Here’s how Chozick describes the incident: Perhaps […]

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Hillary Clinton: I Admire Planned Parenthood Founder Margaret Sanger

September 24, 2014

Email this page  By Steven Ertelt Former Secretary of State Hillary Clinton, an abortion advocate, is expected to seriously consider her own presidential bid in 2016. For most Democrats, according to polls that have been taken throughout the year, Hillary is the number one choice to replace pro-abortion President Barack Obama. Obama has a laundry […]

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The Hillary Letters

September 22, 2014

Email this page  Hillary Clinton, Saul Alinsky correspondence revealed BY: Alana Goodman NOTE: READ THE HILLARY CLINTON-SAUL ALINSKY LETTERS HERE. Previously unpublished correspondence between Hillary Clinton and the late left-wing organizer Saul Alinsky reveals new details about her relationship with the controversial Chicago activist and shed light on her early ideological development. Clinton met with […]

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Go Away, Hillary

September 18, 2014

    By Alan Caruba Other than earning her law degree, name one thing that Hillary Clinton has accomplished on her own. Her accomplishments—slim as they are—have been achieved on the coattails of either Bill Clinton or Barack Obama. Had she not been the First Lady, would anyone have ever heard of her in the […]

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Benghazi Bombshell: Clinton State Department Official Reveals Details of Alleged Document Review

September 15, 2014

    By Sharyl Attkisson As the House Select Committee on Benghazi prepares for its first hearing this week, a former State Department diplomat is coming forward with a startling allegation: Hillary Clinton confidants were part of an operation to “separate” damaging documents before they were turned over to the Accountability Review Board investigating security […]

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‘Hillary Clinton’s Fingerprints Are All Over Obamacare’

September 15, 2014

Email this page  By Sarah Fischer Democrat Senator Tom Harkin (D-IA) told the attendees of his annual Steak Fry, that Hillary Clinton’s fingerprints are all over Obamacare. “One of the things she always worked on was advancing this concept, this idea that health care should be a right and not a privilege in this country,” […]

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What is it that Hillary Says is the Most ‘Consequential’ Challenge Facing America?

September 6, 2014

Email this page    By Greg Campbell On Thursday, former Secretary of State Hillary Clinton spoke at a conference in Las Vegas, Nevada, to discuss energy solutions. The likely 2016 presidential candidate maintained the Party line on the issue of “climate change”- a catch-all term used to describe any variance in weather or, alternately, the […]

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Assault on First Amendment taking place at Wake Forest University using Hillary Clinton’s ‘Istanbul Process’ Model

September 6, 2014

Email this page    By Ben Barrack Whether its leaders realize it or not, Wake Forest University is laying the groundwork for Hillary Clinton’s stated techniques for implementing the Istanbul Process, which seeks to eliminate criticism of Islam. Beginning this school year, Wake Forest is encouraging students to anonymously “report bias” according to a letter […]

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The Imaginary Non-Interventionist

August 31, 2014

Email this page    By Daniel Greenfield Ever since Hillary broke with Barack over the virtues of doing stupid stuff, the editorial columnists have been pretending that she has some new and exciting foreign policy. She doesn’t. The left has been denouncing her as an interventionist, the second coming of George W. Bush. They just […]

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Evidence: Hillary Clinton at WAR with FIRST AMENDMENT and not TERRORISM

August 31, 2014

    Explosive information previously available is being incorporated into our case that the Obama administration was indeed involved in the production and promotion of the video that has become known as “Innocence of Muslims” blamed for the attacks in Benghazi. This information also breathes new life into the argument that the attacks included a […]

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Hillary, Huma and the Muslim Brotherhood

August 16, 2014

    By Paul  Dowling Hillary, Huma, & Global Islamism “Indeed, the worst of living creatures in the sight of Allah are those who have disbelieved, and they will not [ever] believe.” —Surat Al-’Anfāl (The Spoils of War)* The Clintons & the Muslim Brotherhood Bill and Hillary Clinton are friends with Bassam Erstwani, chairman of […]

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Hillary’s BOOK TOUR to Paris and Berlin; Courtesy of U.S. Taxpayers

August 12, 2014

Email this page    Hillary’s Book was a flop in the U.S., so she goes to Paris and Berlin for a book tour that TAXPAYERS paid for! –VC Expensive ‘Choices’: U.S. taxpayers spent $55,000 on travel expenses for Hillary Clinton’s BOOK TOUR in Paris and Berlin – including a her $3,668-a-night hotel suite $3,668 hotel […]

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Hillary Clinton thinks Obama didn’t help Muslim Brotherhood enough in Syria

August 11, 2014

    By Ben Barrack As ISIS drags Iraq and Syria deeper into the pit, Hillary Clinton is attempting to distance herself from the Obama policies that have strengthened ISIS. Her argument is that Obama didn’t do enough to help the larger ISIS umbrella known as the Muslim Brotherhood against Bashar al-Assad. Considering that Clinton’s […]

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