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Showing posts from September, 2008

Tax Refunds and Obamanomics

Laissez-faire economics is NOT a zero-sum game, but socialists either think it is or pretend it is - so they're either being stupid or mendacious.

I like the parable of the group of men who go to lunch every day. I'll try to get the math right:

10 men go out to eat lunch at their favorite restaurant every day. The bill always comes to $100. They decided early on to divide the bill based on how much each of them earns: The investment banker earns the most money and pays $70 of the total bill. The lawyer and the doctor contribute $8 apiece. Then the architect and the small business owner pay $5 each. The next four men pay $1 each and the unemployed man pays nothing for his meal. Note that no one but the rich man pays more than his share of the bill - $10.

One day, the owner of the restaurant decides to reward his loyal customers with a discount. He offers to take $10 off of their bill: He pays out the refund as a percentage of each man's contribution. The rich man gets $7, the …