(Video) Sarah Palin Remembers Senator Ted Stevens On Fox’s Americas Newsroom & On The Record w/ Greta
Tuesday, August 10, 2010
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(Video) Sarah Palin To Dead Media: Stay Classy LSM
Monday, August 09, 2010
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While filming the Alaska documentary in Homer, I had a brief discussion with a local lady who, in typical Alaska style, decided to give me her two cents worth about my political leanings, American politics in general, and much else besides. It’s what makes our politics so uniquely democratic: two people discussing the things they care about, even though they respectfully disagree about just about everything (you can watch a brief video of the encounter).
The LSM has now decided to use this brief encounter for another one of their spin operations. They claim I – wait for it – “appear to roll my eyes” when the lady tells me she’s a teacher. Yes, it’s come to this: the media is now trying to turn my eyebrow movements into story lines. (Maybe that’s why Botox is all the rage – if you can’t move your eyebrows, your “eye rolling” can’t be misinterpreted!) If they had checked their facts first, they would have known that I come from a family of teachers; my grandparents were teachers, my father was a teacher, my brother is a teacher, my sister works in Special Needs classrooms, my aunt is a school nurse, my mom worked as a school secretary for much of her professional life, we all volunteer in classrooms, etc., etc., etc. Given that family history, how likely is it that I would “roll my eyes” at someone telling me that they too work in that honorable profession? Stay classy, LSM.
One good thing to come out of this little episode, though, is that it helps to remind people once again that Alaska is a great state full of independent-minded people. I look forward to introducing you to some of them in the forthcoming documentary series on life in Alaska! The show will remind you to get outdoors, breathe in God’s creation, and taste the freedom!
- Sarah Palin
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Sarah Palin: Please Read WSJ - Higher Dividend & Cap Gains Taxes LOWER Revenue. Limit Deductions?
Monday, August 09, 2010
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No serious economist thinks higher dividend and cap gains taxes are efficient ways to raise revenue. Why not limit deductions for high earners instead?
Friday's weak employment report reminds us anew of the flagging U.S. economic recovery. While the Obama administration discusses additional stimulus packages, Treasury Secretary Tim Geithner is arguing that we should roll back key elements of the Bush tax cuts passed in 2001 and 2003. The administration is particularly skeptical about the benefits of today's lower rates on dividends and capital gains.
The tax on dividends, for example, is currently 15%, but it could increase to as high as 39.6% if the 2001 and 2003 tax cuts expire. On top of this, a new 3.8% tax on investment incomes for high-income earners begins in 2013 to help pay for ObamaCare. The administration's arguments for higher taxes on capital center on fairness and the need for deficit reduction.
These arguments are seriously mistaken. The relationship between investment, capital and wages is such that workers are better off if capital is not taxed at all. […]
There are at least four channels through which Mr. Bush's tax reform (proposed and passed) raised the long-run productive capacity of the economy—that is, increased the size of the pie. First, since lower taxes mean higher returns to investors, those investors allocate more funds to corporate capital. Corporations can raise capital for investment more cheaply. As a result, the nation's capital stock and output increase.
Second, reducing or eliminating the differential tax treatment between corporate and noncorporate investments means that investment flows are not channeled artificially by tax considerations and the overall productivity of the economy increases.
Third, lowering or eliminating taxes on capital mitigates distortions in our financial structure. Prior to 2003, equity financing was disadvantaged relative to debt financing, with taxes levied twice, at the corporate level and again at the investor level. Because interest payments to debt holders are deductible at the corporate level, debt financing was taxed only once, at the investor level. This system contributed to over-reliance on debt financing. The 2003 tax cuts reduced this bias substantially. Nonfinancial companies went into the recent crisis with lower leverage as a result, a very good thing. […]
If the Obama administration's goal were truly fairness, it could propose an increase in the average tax rate on higher-income earners without raising marginal rates—for example, by limiting deductions. Does the Treasury really believe that raising dividend and capital gains taxes addresses its fairness concerns at the lowest cost in terms of reduced economic activity? […]
If President Obama is interested in promoting growth now and in the future, he should commit to retaining the low tax rates Congress passed in 2003.
Mr. Hubbard, dean of Columbia Business School, was chairman of the Council of Economic Advisers under President George W. Bush.
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Sarah Palin: PolitiFact Gets "Pants on Fire" Rating For Their Spin On Democrats' $3.8 Trillion Tax Hike
Thursday, August 05, 2010
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Yesterday, PolitiFact.com fact-checked my statement about the coming $3.8 trillion Obama tax hike – the largest tax increase in history. They did such a bad job of it, however, that I feel compelled to fact-check the fact-checkers.
First of all, they claim that there are Democrat proposals which would “keep the tax cuts for individuals who make less than $200,000 and couples who make less than $250,000.”
Unfortunately for PolitiFact, no such proposal exists. They admit as much, by the way, when they state that “There are no formal congressional proposals yet to keep the Bush tax cuts in place, so we don’t have precise estimates from official sources like the nonpartisan Congressional Budget Office.” That doesn’t stop them, though, from claiming I “confuse the issue” by “using numbers that assume all the tax cuts are going away. That is not the Democratic plan nor is it President Obama’s plan.”
Plan? What plan? There is no plan. All we have is smoke and mirrors based on an old Obama campaign pledge that if elected, he would exempt families making less than $250,000 a year from “any form of tax increases.” But this pledge was already watered down before he was even elected. First vice-presidential candidate Joe Biden lowered it to $150,000. Then campaign surrogate Gov. Bill Richardson lowered it even further to $120,000.
A few months after the inauguration, even that last promise disappeared in a puff of smoke. When asked to reaffirm the White House’s commitment to the campaign promise of no tax increases for families earning less than $250,000, Obama’s spin doctor David Axelrod declared the President had “no interest in drawing lines in the sand.”
The truth is that as of today, Democrats haven’t taken any action to extend any part of the 2001 and 2003 tax cuts for any income group – and in this case doing nothing equals hitting American taxpayers with a massive $3.8 trillion tax increase.
What we do know for certain is that the White House is more than willing to raise taxes on families with incomes of less than $250,000. Democrat Senator Max Baucus admitted as much during the debate about Obamacare when he stated that “One other point that I think it’s very important to make is that it is true that in certain cases, the taxes will go up for some Americans who might be making less than $200,000.”
PolitiFact doesn’t dispute the $3.8 trillion estimate of the cost of repeal of the 2001 and 2003 tax cuts. It admits that “Palin’s estimate of $3.8 trillion over 10 years is within a reasonable range, if you’re talking about all taxpayers.” And yet somehow it continues to argue that I’m wrong, based on a proposal it admits doesn’t exist which in turn is based on a phantom campaign pledge which Democrats have already broken anyway. I call that a “Pants on Fire” statement.
To prevent PolitiFact from making similar mistakes in future, it would be helpful if the White House and the Democratic Congressional leadership finally mustered the courage to table their plans to let the 2001 and 2003 tax cuts expire. Mr. President, publish your proposals, and we’ll duke it out. You can argue in favor of a multi-trillion dollar tax hike in an age of economic uncertainty and mass unemployment, and we’ll argue for fiscal sanity combined with serious spending cuts. I for one look forward to such a debate.
In the meantime I suggest the St. Petersburg Times hires a few extra staff to fact-check its fact-checkers. It might help it prevent being caught with its “pants on fire” again in the future.
- Sarah Palin
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