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Author Topic: The Sad Story of Presidents Who Think They Can Spend to Create Jobs  (Read 1468 times)

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Offline LadyVirginia

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The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« on: September 08, 2011, 09:33:10 AM »


from Dr. Burton Folsom

Quote
How are jobs created? In the last hundred years, the U.S. has seen tens of millions of jobs created by entrepreneurs like Henry Ford, who put a car in every garage, Willis Carrier, who gave us air conditioning, and Chester Carlson, who invented and marketed the Xerox machine. These men created products people wanted to use, and therefore millions of jobs came into existence to hire people to make those products as cheaply as possible.
 
How do we encourage people like Henry Ford, Willis Carrier, and Chester Carlson to take the risks that might create those jobs? We do that by limiting government, protecting property rights, and allowing entrepreneurs to keep most of what they earn. In other words, do not overregulate, do not overtax, and do not allow the federal government to create instability by intrusive meddling. Carrier, for example, began marketing air conditioners to movie houses in the 1920s, when the U.S. lowered tax rates and cut government spending. Likewise, Chester Carlson began marketing his Xerox machines only after tax rates were cut after World War II. If Carlson and Carrier were going to take the risks to make something new, they had to be assured they could make a profit, and then be allowed to keep it. Presidents Coolidge and Truman were in charge when those tax rates were cut, and they deserve credit for making sure the U.S. was free enough to coax entrepreneurs to take chances.

The first two presidents to challenge this common sense method of creating jobs were Herbert Hoover and Franklin Roosevelt, back to back presidents in the 1930s. Hoover sharply expanded government spending for infrastructure improvements.

<snip>

President Obama, Secretary Geitner, Franklin Roosevelt, Herbert Hoover, and John Maynard Keynes are like processionary caterpillars. These caterpillars have tunnel vision and follow one another mindlessly around the rim of a flower pot. After a few days, these caterpillars die of starvation—with food all around them—because they believe following the leader is the way to survival. The food that creates jobs in the U.S. is freedom, and when we quit following Keynes and Roosevelt and start giving the creative souls in this country the incentive to invest they will do so. Then the U.S. will again resume its prosperity and Americans will rush to fill jobs to make the new products our country will have.


The entire thing is short.  Find it HERE
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Online Pandora

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #1 on: September 08, 2011, 09:53:44 AM »
Today, it is not enough that the Fords, Carriers and Carlsons successfully invent and sell affordable goods that make life more pleasant, they have "to give back to society" as well.  As though executing the former doesn't automatically qualify for the latter.

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Offline LadyVirginia

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #2 on: September 08, 2011, 10:02:14 AM »
Quote from: Pandora on September 08, 2011, 09:53:44 AM
Today, it is not enough that the Fords, Carriers and Carlsons successfully invent and sell affordable goods that make life more pleasant, they have "to give back to society" as well.  As though executing the former doesn't automatically qualify for the latter.




Yep.  Another myth that no one questions.
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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #3 on: September 08, 2011, 10:06:36 AM »
Quote from: LadyVirginia on September 08, 2011, 10:02:14 AM
Quote from: Pandora on September 08, 2011, 09:53:44 AM
Today, it is not enough that the Fords, Carriers and Carlsons successfully invent and sell affordable goods that make life more pleasant, they have "to give back to society" as well.  As though executing the former doesn't automatically qualify for the latter.




Yep.  Another myth that no one questions.

Not just not questions; it's assumed people like them took something from "society" to begin with.
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Offline IronDioPriest

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #4 on: September 08, 2011, 10:33:27 AM »
Quote from: Pandora on September 08, 2011, 09:53:44 AM
Today, it is not enough that the Fords, Carriers and Carlsons successfully invent and sell affordable goods that make life more pleasant, they have "to give back to society" as well.  As though executing the former doesn't automatically qualify for the latter.



That's the kind of thing that sticks in Jason Lewis' craw. He's of the mindset that the single most humane thing a person can do in our society is create wealth through productivity. All other good flows from it, directly or indirectly.
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- Thomas Jefferson

Offline Glock32

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #5 on: September 10, 2011, 03:55:36 PM »
I think about that too, especially when people start harping on populist tropes like oil company profits. I just have to think about how, for a mere handful of pennies (even with the current price of energy made higher by bureaucratic meddling) I am able to transport myself and a 4000 pound vehicle a mile from where I am right now in a mere minute or two. For the price of a single tank, I can traverse several states. The age old Tyranny of Distance, conquered by a few dollars per gallon.

I'd say the oil industry has already "given back" by the fact that I am not only able to accomplish such things, but do so with such daily regularity that it has become a banality no one even consciously thinks about.

I would put this and many other examples up against a similar cost-benefit analysis of the taxes we pay to government. Any day. Period.
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Offline IronDioPriest

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #6 on: September 10, 2011, 05:16:37 PM »
That' such an excellent point Glock. So excellent, I'd like to see it fleshed out and  published in essay form.

I think it is an absolutely key facet of the entire energy debate, and it's not articulated nearly enough.
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"A strict observance of the written laws is doubtless one of the high duties of a good citizen, but it is not the highest. The laws of necessity, of self-preservation, of saving our country when in danger, are of higher obligation. To lose our country by a scrupulous adherence to written law, would be to lose the law itself, with life, liberty, property and all those who are enjoying them with us; thus absurdly sacrificing the end to the means."

- Thomas Jefferson

Offline trapeze

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #7 on: September 10, 2011, 09:06:04 PM »
Quote
...and it's not articulated nearly enough.

On purpose.
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Offline jpatrickham

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #8 on: September 13, 2011, 02:08:04 PM »
BREAKING NEWS: Federal Deficit Totaled $1.23T Through August ::puke::

 Reply |FoxNews.com foxnews@newsletters.foxnews.com to me
show details 2:18 PM (46 minutes ago)

Quote
"U.S. crosses $1 trillion deficit threshold for third straight year, logging $1.23 trillion deficit with one month to go before end of fiscal year"

More headlines from FoxNews.com:
http://email.foxnews.com/t?ctl=13DAA:551F40EA9E802BA7CCD63D70C5D5B8CA&

Watch Fox News Channel for complete coverage of this story and all breaking news.

Sad! Doesn't come close to it! ::evil::
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Online Pandora

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #9 on: September 13, 2011, 02:24:30 PM »
Yep.  Now Duh Wun wants another 447 BILLION to "pay for" his "jobs bill".
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Offline jpatrickham

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #10 on: September 13, 2011, 02:43:56 PM »
Quote from: Pandora on September 13, 2011, 02:24:30 PM
Yep.  Now Duh Wun wants another 447 BILLION to "pay for" his "jobs bill".



What Barack Obama needs is a good enema! Somebody got a garden hose and a swimming Pool they don't need anymore?  ::beertoast::
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Online Pandora

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #11 on: September 13, 2011, 02:46:28 PM »
Ewwwwwwww.  Now I need mind bleach!  ::doh::

Good job, jpat, on doing the quotes better, and thanks.
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"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

"Let us assume for the moment everything you say about me is true. That just makes your problem bigger, doesn't it?"

Offline jpatrickham

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #12 on: September 13, 2011, 02:53:23 PM »
Quote from: Pandora on September 13, 2011, 02:46:28 PM
Ewwwwwwww.  Now I need mind bleach!  ::doh::

Good job, jpat, on doing the quotes better, and thanks.



Just give me 3 or 4 years and I kind of grow on you! ::oldman::
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Offline Libertas

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Re: The Sad Story of Presidents Who Think They Can Spend to Create Jobs
« Reply #13 on: September 13, 2011, 03:59:28 PM »
Quote from: jpatrickham on September 13, 2011, 02:43:56 PM
Quote from: Pandora on September 13, 2011, 02:24:30 PM
Yep.  Now Duh Wun wants another 447 BILLION to "pay for" his "jobs bill".



What Barack Obama needs is a good enema! Somebody got a garden hose and a swimming Pool they don't need anymore?  ::beertoast::

He'd enjoy it too much.

 ::puke::

 ::exitstageleft::
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