But the Conquered, or their Children, have no Court, no Arbitrator on Earth to appeal to. Then they may appeal, as Jephtha did, to Heaven, and repeat their Appeal, till they have recovered the native Right of their Ancestors, which was to have such a Legislative over them, as the Majority should approve, and freely acquiesce in.
-John Locke

Monday, July 25, 2011

US Default Watch, Part 8 and 3/4

I almost can't keep up with all of this.

Obama is now saying that he wants Corporations to pay their fair share.  I hate this kind of talk, for so may reasons.  First, we have about the highest corporate tax rates among civilized nations, which suggests to me that they are already paying at least their fair share, if not substantially more.  High corporate tax rates are a recipe for short-term revenue and long-term disaster as these companies find greener pastures off-shore.  Second, why does he get to be the one who decides what "fair" means?  I think Orwell covered this in Animal Farm.  I think it would be "fair" to beat Tim Geithner with an oar.  Probably a good thing I'm not in charge. 

Looking at Rasmussen, Obama is nearing his worst-ever approval ratings.  What I find compelling is that since the day he took office in Jan. 2009, he has seen the percentage of respondents who disapprove go from about 30 to 55, and those who approve move, accordingly, from 69 to 44.  That means that 25% of those polled have reversed their view of Obama.  But check this out: in Jan. 2009, 44% of respondents "strongly approved" of Obama, while only 16% "strongly disapproved."  It's probably fair to infer that the 16% continues to disapprove, but that 16% has now grown to 44% strongly disapproving.  The 44% that strongly approved in '09 has now shrunk to 23%.  Obama knows that he's losing the American people, and he is going to try to govern accordingly.  Which means that he will try to get people back in his corner, or failing that, he will obstruct progress and push his own agenda before he leaves after 1 term.

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