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Archive for June 29th, 2012

I’ve already thrown in my two cents on yesterday’s disappointing decision, and I was planning on ignoring the issue for a few days because I’m so irked by the result.

But they say laughter is an effective part of grief therapy, so let’s take some solace in these cartoons.

This first one is about the very serious issue of increased authority and power for the IRS.

Technically, the Supreme Court decision didn’t give the IRS any more power than it already had been given under the legislation, but the cartoon isn’t claiming otherwise, so it gets points for being accurate and (tragically) amusing.

By the way, here’s a cartoon making a similar point from back in 2010 when Obamcare was being debated.

Next we have a cartoon about Chief Justice Roberts and his new BFF status with Obama. I almost didn’t include it because Roberts deserves nothing but scorn, but I don’t want my feelings to interfere.

Speaking of Roberts, this next cartoon is accurate in many ways.

It’s designed to blame Bush for appointing a Justice who would put establishment approval before fealty to the Constitution, but I think it’s also true because Obama might not have won – and the Democrats certainly wouldn’t have picked up so many seats in the House and Senate – if Bush had not imposed so much statist legislation and weakened the economy, thus paving the way for big Democrat victories in 2006 and 2008.

And here’s a cartoon making the obvious point that Obama prevaricated.

I’ve saved my favorite for last, showing how the Supreme Court botched its responsibility.

But even though it’s my favorite of the five cartoons, I would make a change (just like I suggested alterations to a very good Chuck Asay cartoon back in April).

In this case, I also would amend this gem by replacing “economy” with “Constitution.”

I hope all these cartoons make you feel a bit better. If not, you can look at some R-rated Obamacare humor here, here, and here. And, just for the heck of it, here’s a PG-rated Obamacare joke to end on a more subdued note.

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America’s political elite is nauseating for many reasons, but perhaps most of all when they blame others for problems that are caused by misguided government policies. A stark example is the way they attacked the Facebook billionaire who moved to Singapore because of punitive taxation and class-warfare policy.

Today, let’s look at an example that affects almost everybody rather than just a handful of rich people. Many people in Washington sanctimoniously say that American households and businesses are too focused on the short term and that we don’t save enough.

But as I explain in this CBNC interview, tax and spending policies from Washington have undermined the incentive to save.

Allow me to elaborate on three of my examples.

1. Look at this post comparing the red ink from America’s bankrupt Social Security system with the huge levels of private savings generated by Australia’s system of personal retirement accounts.

Good politicians would respond by copying Australia and reforming Social Security. But good politicians are like unicorns.

2. Or look at this chart showing the extensive double taxation in our tax code, as well as these international comparisons of how America over-taxes dividends and capital gains.

Good politicians would respond by junking the tax code and adopting a flat tax, which has no double taxation of income that is saved and invested. But good politicians are like the Loch Ness Monster.

3. And consider the fact that the Obama Administration has just imposed a regulation that will discourage foreigners from depositing money in American banks, thus driving capital from the U.S. economy.

Good politicians would minimize the damage of anti-savings policies by keeping America a haven for foreign capital. But good politicians are like Bigfoot.

The moral of the story, just in case you haven’t picked up on the theme, is that bad things happen because politicians can’t resist expanding the burden of government when they should be doing the opposite. Which is why this poster is funny, but in a painful way.

P.S. I should have mentioned that some politicians think that we can boost savings by imposing a value-added tax! This is not only a perverse example of Mitchell’s law, but it’s also completely illogical.

A VAT does not change the incentive to save since current consumption and future consumption are equally taxed. But it does reduce the amount of money people have, thus reducing both private consumption and private savings.

Statists would argue that a new tax will reduce the budget deficit and thus reduce the amount of private savings that is being used to finance government debt. That’s only true, though, if you’re naive enough to think politicians won’t spend the new revenue. Good luck with that.

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