Bernanke Notes Risks to Recovery - WSJ.com

Bernanke Notes Risks to Recovery - WSJ.com: "- Sent using Google Toolbar"

Its all such basic math that one would think the legislators would get it - but of course, they excel only in micro-economics (i.e. how to save on their own taxes, as Art Laffer notes in his opinion piece this Monday mentioning Senator Kerry saving on the cost of his yacht by buying and keeping it in Rhode Island vs. Mass.). As for macro-economics - well, it just goes against their redistributionist bent.

It's as if the added 5-6% of GDP that the government wants to tax from the rich should have no impact on reducing the capital available for creating jobs in the US. Similarly, the added costs of labor shouldn't make foreign employees or outsourcing more appealing. And, then of course, there is the higher taxes on capital and good salaries and bonuses that, in the minds of Liberals, should have no impact on the risk return evaluation of an investment.

One does wonder if such a lack of basic economic skills on the part of Liberals should be a disqualification for office - sort of like being an illegal immigrant by choice not nature? Ah well, they're in their turning the economy in socialist Europe at best, socialist Venezuela if they're not careful.