Post by jgaffney on May 17, 2011 12:41:59 GMT -5
You may have heard of Sir Alexander Tytler, the Scotsman who said:
About This Legislation:
3/2/2011--Introduced. Rep. John Conyers, D MI-14. Humphrey-Hawkins 21st Century Full Employment and Training Act or Work Opportunities and Revitalizing Our Communities Act - Directs the Secretary of Labor to establish a Full Employment National Trust Fund with two separate accounts for: (1) Employment Opportunity Grants to states, local governments, and Indian tribes for job-creating activities in communities whose economy is not at a level of full employment; and (2) Workforce Investment programs. Directs the Secretary to convene a national employment conference to bring together leaders of small, medium, and large businesses, labor, government, and other parties to discuss employment, with particular attention to structural unemployment and the plight of disadvantaged youth. Amends the Workforce Investment Act of 1998 to revise member composition requirements for state and local workforce investment boards to include at least 25% of the chief executive officers of minority-serving, community-based organizations. Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities that deal in such transactions.
I am currently wading through "Atlas Shrugged." I found a paperback copy at Costco and sliced it into the three volumes it consists of. It makes the book much easier to handle. Anyway, Ayn Rand predicted this exactly. Simply by mandating full employment, the progressives think that they can make it happen. And, you can bet that the funding mechanism set out in the bill, a tax on certain bond trades, will never be enough to pay for all of the things the progressives would like to do with this bill. It will end up being another drain on the general fund in short order.
The last time the economy was at "full employment" was under GWB. His low-tax policy and favorable investment market led to job creation by American firms that drove unemployment below the full employment level, defined by economists as 5%. Note that it's nearly impossible to get to 0% unemployment because there are always people between jobs, people relocating, and, of course, the chronically unemployed. Most of the latter, I think, vote Democrat.
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.In case you think it could never happen here, take a look at the latest proposal from Progressive Democrats of America:
About This Legislation:
3/2/2011--Introduced. Rep. John Conyers, D MI-14. Humphrey-Hawkins 21st Century Full Employment and Training Act or Work Opportunities and Revitalizing Our Communities Act - Directs the Secretary of Labor to establish a Full Employment National Trust Fund with two separate accounts for: (1) Employment Opportunity Grants to states, local governments, and Indian tribes for job-creating activities in communities whose economy is not at a level of full employment; and (2) Workforce Investment programs. Directs the Secretary to convene a national employment conference to bring together leaders of small, medium, and large businesses, labor, government, and other parties to discuss employment, with particular attention to structural unemployment and the plight of disadvantaged youth. Amends the Workforce Investment Act of 1998 to revise member composition requirements for state and local workforce investment boards to include at least 25% of the chief executive officers of minority-serving, community-based organizations. Amends the Internal Revenue Code to impose a tax on certain covered securities transactions, payable by trading facilities that deal in such transactions.
I am currently wading through "Atlas Shrugged." I found a paperback copy at Costco and sliced it into the three volumes it consists of. It makes the book much easier to handle. Anyway, Ayn Rand predicted this exactly. Simply by mandating full employment, the progressives think that they can make it happen. And, you can bet that the funding mechanism set out in the bill, a tax on certain bond trades, will never be enough to pay for all of the things the progressives would like to do with this bill. It will end up being another drain on the general fund in short order.
The last time the economy was at "full employment" was under GWB. His low-tax policy and favorable investment market led to job creation by American firms that drove unemployment below the full employment level, defined by economists as 5%. Note that it's nearly impossible to get to 0% unemployment because there are always people between jobs, people relocating, and, of course, the chronically unemployed. Most of the latter, I think, vote Democrat.