What is Bennett's main idea in presenting this cartoon (use economic terminology)? How would you change the way we spend money?
Friday, October 16, 2009
Stimulus Math
What is Bennett's main idea in presenting this cartoon (use economic terminology)? How would you change the way we spend money?
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Bennett is pointing out the ridiculous amount of money that has been poured into a war that seems to be going nowhere. And although a war usually helps stimulate the economy, as had been done in WWII, this time around we are still suffering. The fact of the matter is, money has been spent and spent and spent and in a short amount of time, and we have completely misshapen our economy. This money should be spent on education, which I feel is extremely important to everybody. Our education in America does not compare to the quality of education elsewhere i.e Europe and Asia.
ReplyDeleteGiovanni, I completely agree! This money should be spent on more important things. You're right...a war has been known to help stimulate the economy, but first we must endure huge deficits. Bennett is showing how ridiculous it is to spend money on war. He is putting into perspective the amounts of money that Congress spent on the Stimulus Bill as well. He clearly disagrees with how the government is choosing to spend money, especially during a recession. War creates externalities, and it simply costs too much. It is useless.
ReplyDeleteI believe we should spend more money on education, like Giovanni said. If we waste our money on war and we take education issues lightly, how will that affect our future as a country? We need to start thinking more about our well-being as a country.
I agree with both Allison and Giovanni. Not only did it make me laugh, but it points out the ridiculous amount of money our government has poured into this war. Instead, like you both said, this money should have been poured into more important issues such as education (which any student in a public school would agree that our education system is suffering).
ReplyDeleteWhat is the answer to this ridiculous amount of money spent by the Federal Government since the Kennedy administration? Many people do not realize that during the Eisenhower administration (a Republican) the upper 3% paid 90% of their income in income taxes. Should we tax the wealthy--who have earned their money in a free-market capitalist system BTW--at a rate of 90%???? How about 80%? 60%?? What is fair??
ReplyDeleteWell, it wouldn't be "fair" that the poor should pay more taxes than the wealthy. People should be taxed according to their income, and they are. But the cost for a lower class person to pay a 50% income tax is going to be more than to a middle or high class person who can afford a 50% tax on their income. The wealthy may have earned their money in a free-market system, but that system isn't going to continue to exist if the government can't finance itself. People should give in proportion, and since they wealthy have the most to give, they SHOULD give the most. I think 60-65% would be a relatively reasonable income tax.
ReplyDeleteIt's not like they always pay their taxes anyways..
To paraphrase Christina, a lamborghini's price is the same for a filthy rich guy and to a dirt poor one, but their costs are vastly different. The wealthy don't even know what to do with their money most of the time, so taxing them a little more, as in the Eisenhower Era (though maybe not so extremely) would aid in the well-being of everyone; that is, of course, if the taxes go to the right places.
ReplyDeleteFirst of all, Gio: you make it sound so easy. Sure, the war was a mistake, but we can't just pull ourselves out at the snap of a finger. If you want to cut back on spending, point the finger at the fact that Obama will run up more federal debt in the first year of his administration than every previous president combined. Among these expenses considered leftist and overboard even by European powers, his stimulus package gave $600 billion to Acorn over the next ten years - yes, that Acorn. Obama's former employer, the company slated to subcontract the 2010 census but was terminated due to evidence showing them assisting a prostitute in tax evasion. Secondly, in response to Ms. Meachum, running up the highest tax bracket does nothing. Sorry Christina, but you're way off. Think of when Britain's highest tax bracket was a whopping 98%(!). Investment slowed to a virtual halt. If you had the option of investing $100,000, making a 10% return, and then collecting a measly $200 after losing $9,800 or your earnings to taxes, or spending it all on a Rolls-Royce, you'd have no reason to stimulate the economy with investing. An upper tax bracket of 60-65% will do nothing but stifle the economy and discourage investors. It doesn't matter how much you make; nobody wants to pay that. I say, place a hard cap on income taxes: the highest tax bracket MUST NOT exceed 35%. This will decrease the gaps between the tax brackets and encourage a new wave of investments that is sure to stimulate economic growth.
ReplyDeleteI think this cartoon is great at putting in perspective just HOW MUCH we have spent by putting it in simple relateable terms for the viewer, just so the viewer can get the scale of our spending.
ReplyDeleteThis political cartoon emphasizes the ridiculous amounts of federal money our government has spent on the Iraq war and put towards a Stimulus Bill. Bennet, the creator of this political cartoon, had a point in creating this cartoon because it also allows for the average citizen to grasp what is going on with the government where otherwise,, not being economists, they might've become confused. The news constantly spews out different numbers here and there while pointing fingers but an example/comparison such as Bennets' allows you to visualize and put into perspective the true meaning and issue.
ReplyDeleteThis cartoon is funny. I think that everyone in America should see it, just to see how much money has been wasted that could have been put into education or for extracurricular activities. For example, many schools are suffering to fund their sports teams and bands. This year the band has had to pay for almost everything out of pocket, when in previous years the school has helped with funding. The money could also be spent on conservation and making things better for the environment. The U.S. should start thinking about making products inside of the country instead of importing goods and paying taxes on them.
ReplyDeleteMoney is just being wasted on a now pointless war...I do understand that it is hard to just pull out, but we need to figure out a way. Not only are we spending trillions of dollars, we are losing many American soldiers
ReplyDeleteAgain I am sicken by the rhetoric used on these comments and by this post. The money spent on the War is what we call a necessity, its purpose is to spread freedom and democracy to a region that has been plagued with terrorism. Such statements as "pointless war" by @RyanConley and "money has been wasted" by @Ian or "ridiculous amount of money our government has poured into this war" by @Shari are misguided. First of all, accomplishing freedom for hundred of thousands of Iraqis and Afgans is hardly a waste. Second, it is depressing to see that you all have forgotten what this country has stood for, and will continue to stand for(Hopefully). @Moshe covered the details and consequences of raising the tax bracket so I will not get into that, but i will say that a flat tax should be imposed at a rate of around 12%-15%. Classic liberal comic hear. The War is needed, the reckless Obama "Stimulus" Package spending $475,000 for beaver management and control in the State of Mississippi is not. And no, I did not make that up, it is in the actual bill.
ReplyDeleteAlso in that wonderful "Stimulus" bill...
ReplyDelete$1.3 million to stabilize a bridge that the town is planning to tear down anyway in New Jersey
Thats not all...
Residents of the great state of Maine, $380,000 earmarked for lighthouse preservation. Now there are over 60 lighthouses in Maine and only three, by the way get the money. I guess it's a good thing the other 57 lighthouses are in pretty good shape.
wait wait one more...
$61,000 earmark in the omnibus bill devoted to researching potato diseases
Now I could go on and one, and by the way, I am getting these straight from the bill, but I would just like to pose a question...How are these things stabilizing the Economy? At least the War accomplished something, like say, Freedom.
War 1 "Stimulus" 0
I have to admit, Stevie Jay has a point... the stimulus bill seems as though it could be better distributed. But I feel like nobody is answering the question of, then what should we spend it on?
ReplyDeleteWhether or not we agree on waging war, I think it's safe to say that we're all for creating long-term jobs, educating people, and creating a declining poverty rate. However, I'm just not sure how. Where do we even start? How do we create jobs that will last a life-time or generations? I can't even think of any way to... Any ideas fellow classmates?
-Erika Alfieri
The point the American people are beginning to realize is that we in fact should be spending on things needed like education and national defense. The "Stimulus" bill was promised by Mr. Obama to "Keep unemployment below 8%." HAHA, I believe it is getting closer and closer to 10%. So to all who would even begin to think that the "Stimulus" bill has worked, please try and find one way that it did, and if you can prove it to me I'll believe you, but I am extremely doubtful that you will. Thanks again Mr. Obama..yet another promise broken.
ReplyDeleteFYI..researching the wastefulness of this terrible bill has been amusing. I am still working my way through it. I will post more and more outrageous earmarks as I see them.
God help us.
ReplyDelete$1 million in stimulus money to pay for the removal of Mormon crickets in Utah.
WOW.
This political cartoon is just trying to point out the ridiculous amount of money Congress has spent on the Stimulus bill and the Iraq war. Both have their pros and cons, but it doesn't justify the tremendous amount of money being spent.
ReplyDeleteRehoboth Beach in Joe Bidens home state received $7.5 million to refurbish its boardwalk. But so much for Obama's promise that all the projects are going to be, "shovel ready", construction will not begin until the...WINTER. I'm sure beach goers are going to enjoy the new boardwalk all winter long.
ReplyDeleteReports by the Associated Press, the Wall Street Journal and others questioned the veracity of the administration’s claim that 650,000 jobs were created or saved thus far by the stimulus. The response from the White House stimulus czar, Ed DeSeve, was to essentially admit that the numbers they were shouting from the rooftops were inaccurate. But DeSeve noted that the stimulus was enacted, “to create jobs, not count them.” Nor, one might remind his czarness, was it enacted so that the administration could just make up job numbers from thin air.
ReplyDeleteOne of the more telling media reports on the stimulus appeared in the Chicago Tribune which studied the administration’s claim that stimulus spending saved or created over 14,000 education jobs in Illinois. They were able to do a more precise analysis since school districts were instructed to report exactly how many jobs were preserved by new federal funding and how many new positions were funded by the stimulus and the results were compiled by the always trustworthy Illinois state government.
http://biggovernment.com/2009/11/05/more-stimulus-math-cooking-the-books-on-stimulus-jobs/
The results, in some instances, were nothing short of astounding—defying the very laws of mathematics and economics. One school district that employs a total of 290 teachers was listed as saving 473 teaching jobs thanks to the Obama administration, all for only $4.7 million tax dollars. Another district saved 665 jobs with stimulus money, even though a district official told the Tribune that their entire headcount is only 600 workers. And in a feat that Doug Henning would appreciate the state reported that the Wilmette Public Schools saved 166 jobs while the district superintendent told the Tribune that “the number should be zero.”
ReplyDelete^ How is that for some stimulus math.
ReplyDelete