God, Politics and Rock 'n' Roll: We can't afford more "job creation"
Excerpted from this post at God, Politics and Rock 'n' Roll
When legislators in Iowa unveil a new property tax "reduction" plan,
they usually intend to spend more money from the state's budget to buy
down local property taxes. In other words, they intend to take money
collected from taxpayers in the form of income and sales taxes -- and
put it toward property taxes. There is no net tax reduction under
these plans -- the taxpayer's money just goes somewhere different. One
state legislator with whom I served was fond of remarking that she
"couldn't afford any more property tax relief." We've got the same
deal at the federal level with the repeated attempts to stimulate the
economy. Larry Kudlow reports that President Obama's latest proposal
will cost $135,000 a job. In total, the spending and regulation
accompanying many Obama policies are costing jobs rather than allowing
for robust growth.