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June 19, 2013

Peter Grier and Harry Bruinius: In the end, NSA might not need to snoop so secretly after all

Howard LaFranchi: Taliban peace talks hold glimmer of hope, but also unanswerable questions

Warren Richey: Supreme Court: For right to remain silent, a suspect must speak
Meredith Cohn: Leeches are making a comeback as medical helpers

Kerri-Ann Jennings, M.S., R.D.: How to pick the healthiest breakfast cereal

The Kosher Gourmet by Cathy Pollak: Spicy Double Chocolate Banana Muffins

June 17, 2013

Rabbi Simcha Weinstein: Black to the Future: American Apparel Gets Biblical

Patrik Jonsson: Minnesota Nazi: How did Nazi hunters miss Michael Karkoc?

Kate Irby, Ali Watkins, Trevor Graff and Kevin Thibodeaux: All the ways you're being watched
Don Lee: G-8 meeting will test NSA leaks' effect on U.S. influence

Patrik Jonsson: Fort Hood shooting: Judge nixes Nidal Hasan defense strategy. What now?

Stacey Burling: Why the stigma for migraine sufferers?

The Kosher Gourmet by Lisa Abraham: Does it work? 5 new kitchen gadgets put to the test

June 14, 2013

Rabbi Abraham J. Twerski: A spiritual budget: Religious economics and being a ruler

John P. Martin: Hitler insider's missing diary found

Matt Pearce: NSA surveillance disclosure could affect court cases
Peter Tinti: US bounties changes strategy on (Wild, Wild) West African jihadis

Daniel Pendrick, M.D.: Memory loss? Old age may be the least of it

Lauren F. Friedman: But it's all natural! Should we have an instinctive preference for herbal remedies?

Jewz in the Newz by Nate Bloom : Streisand and Alicia Keys in Israel; "Girls" Stuff; Mel Brooks, Another TV special; Superman (who is Jewish) returns --- Israeli plays his mom

The Kosher Gourmet by Sharon K. Ghag : Bored with salad? Bling it up a bit (4 effortless recipes that will result in a 'WOW!')

June 12, 2013

Stephanie Hanes: Little girls or little women? The Disney princess effect

Fred Weir: In tweak to US, Russia would 'consider' asylum for Snowden

Sharon Palmer, R.D.: What's so special about Omega-3 supplements?
Morgan Housel: What newspapers were saying when you should have been buying

Pete Spotts: How cockroaches evolved so as to bypass 'roach motels'

The Kosher Gourmet by Anjali Prasertong: Deep-dish cookie: Warm, gooey and a little over the top

June 10, 2013

Joseph A. Slobodzian: Faith healing and third degree murder: Thorny legal case
Lindsay Wise: Few options for online users to avoid spying, experts say

Sharon Palmer, R.D.: There are plenty of nutritional food bargains out there
Harvard Health Letters: Can bariatric surgery control diabetes?

Zach Murdock: Superglue helps doctors save infant's life

The Kosher Gourmet by Celebrated chef Mario Batali : As good as grilling gets: Rib eye with dry mushroom spice rub

June 7, 2013

Rabbi David Aaron: Beating jealousy

Caroline B. Glick: Wounded . . . and dangerous

Clifford D. May: Al Qaeda vs. Hezbollah
Harvard Health Letters: Fighting back against allergy season

Kimberly Lankford: Grandparents who use FSA to cover grandkid's braces and other must-know info

Jewz in the Newz by Nate Bloom:J ewish Tony Nominees/Tony Awards; Jewish Teen Actor In Sci-Fi Flick; Jewish singer in "Voice" finals

The Kosher Gourmet by Anjali Prasertong: A tart filling so good it might not make it to the crust

June 5, 2013

John Rosemond: Mom, Dad: Talk More and listen less

Kristen Chick: Egypt court sentences 43 pro-democracy workers to prison

Sharon Palmer, R.D.: Mushrooms Have Medicinal As Well As Culinary Value
Morgan Housel: Why you never learn from your investment mistakes

Don Lee: In China, kindergarten rivalry takes deadly turn

The Kosher Gourmet by Sara Kate Gillingham-Ryan: 30-Minute Coq au Vin isn't a dream

June 3, 2013

Molly Hennessy-Fiske: Military judge to consider letting Fort Hood shooting defendant represent himself

Richard A. Serrano: Pvt. Bradley Manning's WikiLeaks trial also a test for government

Mark Trumbull: Have degree, driving cab: Nearly half of college grads are overqualified
Kim Lankford: What to do when long-term care insurance premiums rise

Deborah Netburn: Study: Adults' mouth bacteria may help babies

Jewz in the Newz by Nate Bloom: Jewish Contestant on 'The Voice'; Will Smith's 'Jewish movie family'; Bravo Gives Long Island Jews the Jersey Shore Treatment; Magicians and More

The Kosher Gourmet by Bill Ward: How to be as refined as the wines at a wine tasting

May 29, 2013

Andrew Connelly and Helene Bienvenu: The Little Synagogue that Refused to Die

Dennis Prager: The 'Muslims-Killed-by-the-West' Lie

David Clark Scott: Open war on teachers?
Morgan Housel: If you know only five things about investing, make it these

Sara Reardon: AGenome detectives change the donation game

Deborah Netburn: A one-way ticket to Mars? 78,000-plus and counting apply by video

The Kosher Gourmet by Bev Bennett: CHEDDAR AND CHERRY MUFFINS --- your mouth is already watering

May 24, 2013

Rabbi Tzvi Hersh Weinreb: When I didn't so 'humbly disagree'

Caroline B. Glick: Thank you, Hafez al-Assad

Diana West: From the Brooklyn Bridge to London
Morgan Housel: Why spotting bubbles is so much harder than you think

Environmental Nutrition editors: NuVal labeling to the rescue?

Jewz in the Newz by Nate Bloom : Memorial Day: Jews Serving and KIA in War on Terror; Liberace Bio-Pic; Jew Wins "Survivor"; Shalom, Dr. Brothers; More

The Kosher Gourmet by Emma Christensen: HIDE THESE FROZEN TREATS FROM THE KIDDIES!: Sangria pops; Irish cream pudding pops; mango Lassi pops

May 22, 2013

John Thorne: They launched the 'Arab Spring' but now yearn for the good old days of a strongman

John Rosemond: 'Disciplinary math' adds up to parental successl

Warren Richey: Are prayers before public meetings OK? Supreme Court to decide
Rick Montgomery: Use of ADHD drugs as study aid raises concern on campuses

Brierley Wright, M.S., R.D.: 6 convincing reasons you should keep carbs in your diet

Eoin O'Carroll: Scientists examine nothing, find something

The Kosher Gourmet by Carole Kotkin: This soup is made from one of the great pleasures of spring: A wonderful pairing of rosy color and earthy tang

May 20, 2013

Richard A. Serrano: Is Meir Kahane's assassin now a changed man?

Hannan Adely: Town raises Palestinian flag at City Hall

Melissa Healy: Genetic copies of living people from embryos no longer science fiction
Morgan Housel: When smart investors do stupid things

Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving

Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star

The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting


Jewish World Review Oct. 11, 2012 / 25 Tishrei, 5773

How Much Is This Tax Cut Gonna Cost Me, Doc?

By A. Barton Hinkle




http://www.JewishWorldReview.com | You walk into a shoe store. The salesman runs up to you. "Great news!" he beams. "We've just slashed our prices 20 percent!"

"Yikes!" you say. "I can't afford a price cut like that! I'm outta here."

"No, no — maybe you didn't hear me," the clerk says. "We're cutting our prices 20 percent. Cutting, not raising."

"I heard you just fine," you say. "I'm not paying an outrageous increase like that!" And you storm out the door.

The preceding scenario makes no sense — except in the bizarro world of government finance. For that is precisely how many people speak, when they speak of taxes.

Take The Washington Post, which tore into Paul Ryan the other day for dancing around a question about tax cuts.

"Paul Ryan wants to tell you about the wonders of the 20 percent cut in tax rates that he and running mate Mitt Romney propose," the paper intoned. "He doesn't want to tell you how much it will cost." The paper went on to praise Chris Wallace of Fox News for repeatedly asking Ryan "this basic question" and "citing projections of a 10-year cost of $5 trillion."

The Post is not alone. The New York Times likes referring to the "cost of the Bush tax cuts," for instance. So do liberal organs such as ThinkProgress, the American Prospect, and The Nation. Not long ago, the Annenberg Center's FactCheck.org said Romney's tax-cut proposals "would cost $480 billion a year" (that's the answer the Post wanted Ryan to cough up). In his State of the Union address, President Obama said the U.S. was "poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break." After Wednesday night's presidential debate, analysts on NPR discussed how Romney planned to "pay for" his tax cuts. Inside the Beltway, wonks even talk of "tax expenditures" — by which they mean exemptions, loopholes, and similar devices that lower a taxpayer's total bill.

Now, from a government accountant's perspective, there is little difference to the Treasury between spending $14 billion on a Ford-class aircraft carrier and reducing revenue $14 billion by lowering taxes. If the federal government is running a deficit, then the deficit goes up by $14 billion no matter which route you take. Likewise, a 20 percent price cut on shoes will impose a cost — not on the customers, but on the store or the shoe company.

But, funny thing. A few days ago The Tax Policy Center released a study looking at what would happen if the U.S. goes over the "fiscal cliff," the point at which automatic spending cuts occur and the Bush (and other) tax cuts expire. And look how it was covered:

"Expiration of Tax Cuts Would Be Costly to Taxpayers," wrote The Boston Globe. "The Fiscal Cliff Will Cost a Median-Income Family $2,000," said The Atlantic. "What will falling off the 'fiscal cliff' cost your household?" asked CNBC.

And The Huffington Post, which in August ran this headline — "Bush-Era Tax Cuts Will Cost U.S. Nearly $1 Trillion Over Next Decade" — last week said the expiration of those tax cuts would "Cost (a) Typical Middle-Class Family $2,000."

The upshot of all this is that the Bush tax cuts have "cost" billions of dollars — and the failure to extend them will cost billions more. You could chalk this up to Glass-Half-Empty Syndrome: No matter what happens, we're all hosed. But the real explanation is not as bad as that. It's worse.

The real explanation is that those who fret about the cost of a tax cut are looking at the question from the wrong end of the telescope. They identify with the tax collector, not the taxpayer. Like the accountant for a shoe company, they're not thinking about how much money you stand to save — but how much they stand to lose.

You might think of a tax break as allowing you to keep more of your own money. That's not how Beltway types see it. When they talk of "tax expenditures," they are operating on the assumption that all wealth belongs to the government first. When the president says the country is "spending" money on tax breaks, he speaks as if the dollar in your pocket got there not through your hard work - but through his generosity.

Well, one could say, in a democracy everyone has a say in our government, so we are all in some sense the owners of the shoe company. So cutting taxes really does "cost" us in that sense. You keep telling yourself that, Vladimir Ilyitch. Most people who go into a shoe store think about the price on the tag, not the Nike stock in their 401(k).

So perhaps Ryan should have said something like this: "Tax cuts don't cost money — they save money. Government spending is what costs money. If you think cutting taxes costs money, then you must think raising taxes saves money. By that logic, a 100 percent tax rate would mean Washington isn't spending anything at all. And that, my friend, is absurd."

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

A. Barton Hinkle is Deputy Editor of the Editorial Pages at Richmond Times-Dispatch Comment by clicking here.


Previously:




10/04/12: Warrantless spying skyrockets under Obama
08/20/12: The wrong side absolutely must not win
08/14/12: America was not built on dirt alone
08/02/12: Libs Discover Their Inner Cheney
07/30/12: Feds want to help you --- whether you want help or not
07/23/12: Barack Obama, Storyteller-in-Chief
07/23/12: Nation's worst outsourcer? You
07/19/12: Listen up, America: You need to knuckle under
07/12/12: Obama, Romney: As Different as Two Peas in a Pod
07/05/12: Are teenagers big children --- or little adults?
06/25/12: Minorities treated as mere numbers
06/21/12: Memo to the the Little Guy: Seemingly innocuous activity could bring the federal hammer down out of a clear blue sky
06/19/12: We mustn't let America be buffaloed
05/31/12: Drop and Give Uncle Sam 20
05/15/12: The feds would like to know if you enjoyed that video
05/03/12: Obama inspires: 'America --- Still Not as Bad Off as Venezuela!'
04/26/12: It's everyone's favorite time of year again
03/29/12: GOP disillusionment is a good thing
03/27/12: Just what America needs: more red tape
03/20/12: Nation wondering: what happening to language?
02/21/12: Culture warriors resort to propaganda
02/15/12: Step away from that cookie and grab some air
02/08/12: Lessons in heresy
02/01/12: Do We Really Need Pickle-Flavored Potato Chips?
01/11/12: Shut up, they explained
12/30/11: A Modest Proposal: Let's Ban All Sports!
12/26/11: A Christmas letter from the Obamas
02/24/11: Will the next Watson need us?
12/24/10: Here Are Some Good Gifts for People You Hate
06/15/10: The Presinator
05/26/10: More than equal
04/08/10: Angry Right Takes a Page From Angry Left but guess who is ‘ugly’?
02/16/10: Either Obama owes George W. Bush an apology, or he owes the rest of us a very good explanation for his about-face on wiretapping
02/03/10: Talkin' to us 'tards
01/27/10: I never thought I'd see the day when progressives would howl in ragebecause the Supreme Court said government should not ban books
01/07/10: Gun-Control Advocates Play Fast and Loose
12/31/09: Nearly everything progressives say about neoconservative interventionism abroad applies to their own preferred policies at home





© 2011, A. Barton Hinkle

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