Getting Back the Minutes I Wasted on Liberal Logic

John Ransom
Posted: Jun 13, 2012 12:01 AM

OK, so there are many readers who have better things to do than enjoy Townhall Finance on Sundays.

I can't imagine that's true but, then I don't understand a world that celebrates Ralph Nader, Jerry Brown or Donald Trump- yet alone takes them seriously politically.

I guess it's true however that my Sunday readers enjoy what long-time readers call Email, Hate Mail and Comments from Readers. It's what we orginally called my Sunday mailbag piece until I stopped being lazy and came up with new names for it every Sunday.  

I republish last Sunday's edition here so that those of you busy filling out the New York Times' crossword puzzle know there are more intriguing -and confusing- options here at a Townhall Finance on the weekend. 


Jasch wrote: There's a difference between saving jobs and creating them. The GM/Chrysler bailouts simply put....just saved the companies from bankruptcy and lay-offs. - Obama is Latest Surrogate to Break with Obama

Dear Jasch,

Actually the bailout did neither.

Chrysler and GM still filed for bankruptcy and workers got laid off.

Of course the only workers who got rehired were workers who were part of the UAW. All the non-UAW people were left out in the cold.

As to the bankruptcy, the government insisted on the bankruptcy because it was the easiest way to screw the secured creditors and turn over the companies to the union.

"They are rewriting law, and certainly bond markets never priced in an interpretation that you can rewrite things because it's in the best interest" of unintentional stakeholders -- taxpayers, the company's employees, and municipalities that will be affected, Kingman Penniman, president of KDP, told MarketWatch, reported Daily Finance.

The UAW got about 67 percent of Chrysler and about 17 percent of GM in the bailout of the auto industry.    

Doctor Roy wrote: Could it be possible that Krugman was right all along? Walmart put more small businesses out of work. Well I'd say certain segments of the private sector are doing fine. The usual suspects of course. Wall Street doing fine. Main Street not so much. Clinton is being very subtle with his praise of Romney. If you read between the lines what he really is saying is that Romney was very good at making money for a very narrow subset of the population-the Bane shareholders- and it's a whole different ballgame when as President he will or should have to represent all the stockholders in America. In other words every one of us. .- Obama is Latest Surrogate to Break with Obama

Dear Comrade Doctor,

I read the Forbes blog that you linked to. Can I please have the three minutes of my life back?

For a guy who claims to be a economist, his piece was devoid of any real proof that more government spending by more government hiring would do anything to help the economy. Eventually you will have to collect more tax revenues to support a larger government and that hurts GDP, not helps it.

As to Walmart putting small businesses out of business, that may be true. But they also provide consumers with much lower prices on goods, That’s actually good for the economy. You seem to be advocating higher prices in the name of what? Felling better about yourself? Personally I think one of the best things you can do for families is make sure prices for things are low. It’s like giving families a raise.

Lastly, I have to laugh at your Clinton-is-just-being-subtle theory.

Really, Clinton out stumping for Obama, especially the way he has been, it just acknowledgment how bankrupt the Obama campaign has become.

How bad is it when you’re a-Team consists of a guy who mostly is sticking knives in your back.

One thing is for sure though: Clinton stumping for Obama even with knives is better than Obama stumping for himself.

Obama doesn’t even know if the economy is doing fine or not.

We always knew he wouldn’t be prepared at day one, but this day 1237. Maybe in the next 100 days he’ll really make progress.      

American wrote: All you have to do is put up video proof and the trolls disappear. - Obama is Latest Surrogate to Break with Obama

Dear American,

I think it’s the Scott Walker victory that has the trolls on the run rather than anything that I have done.

In part that’s because they have been misled by liberal media tools, like Maddow and Schultz, into turning the Democrat Party into the economic and political equivalent of the Bataan Death March. 

Progressives used every doomsday machine and every death ray in their cartoon arsenal in Wisconsin and still they got an old-fashioned butt kicking.

This is the biggest victory for Wisconsin since Arthur MacArthur, father of Douglas MacArthur, seized the fallen regimentals and led the 24th Wisconsin up Missionary Ridge at Chattanooga, while crying “On Wisconsin!”

On Wisconsin in November.     

Kizarvexious wrote: On a serious note, I have a question: What is with your fascination of low taxes? Your parents paid a lot more taxes than you, knowing that it would help build the country for their children. You seem to be okay with passing on a failing, crippled country so long as you don't have to sacrifice anything now. Romney had a 17% tax rate last year, that is embarrassing for a developed country. Seems like only Democratic Party presidents know where to draw the line on vacation time. Keep pumping out the lies TH, your slavish readers can't tell the difference anymore- Do-Nothing, Vacation-Loving, Golf-Addicted, Underemployed, Underachieving Candidate (for Reelection)

Dear Comrade Kiz,

Our fascination with lower taxes has to do with our fascination with a strong economy, strong families and strong communities.

Our parents did not pay higher taxes. When tax rates were higher, people just behaved differently in order to avoid paying taxes at a higher rate.

Low tax rates have increased government revenues.

“What we do see indicates that the maximum tax rate has little to no bearing on how much money the federal government collects per household in any given year,” writes our contributor at Political Calculations. “Since 1967, the government's RPH to MHI ratio has risen steadily on average, indicating that the U.S. government is collecting more and more money per household over time, with the changing level of the topmost income tax rate having little to no effect on the rate of that change.” 

Ratio of Government Revenue per Household (RPH) to Median Household Income (MHI), with Maximum Income Tax Rate, 1967-2010

What’s crippling the country is massive deficit spending that’s given the economy little or no return on investment.

“With that being the case, there is no legitimate reason to set higher income tax rates today,” continues PC, “as they are now demonstrated to have little to no effect on how much money the government collects in any given year. Increasing the top income tax rate in the U.S. is simply not an effective strategy for closing the gap between the government's spending per U.S. household and how much it collects in taxes per U.S. household, making any ongoing effort to do so an utter waste of time that could be put to much better use.”

As to vacation time, you seriously want to compare the time Bush and Reagan spent on their ranches to the all-expense paid, taxpayer funded blowouts that Obama goes on every time thing get rough?

Obama lost the election when he vacationed in Martha’s Vineyard in 2011 as debt agencies downgraded government bonds.      

DG wrote: Obama says: SHARED SACRIFICE. Romney offers SHARED PROSPERITY. It is a clear choice. Vote for Romney. -Do-Nothing, Vacation-Loving, Golf-Addicted, Underemployed, Underachieving Candidate (for Reelection)

Dear DG,


Not stop posting that over and over.

Truth001 wrote: Ransom said: No reading of history will be complete without acknowledging that Obama did nothing to fix the country’s financial system and very much to harm it. If you truly believe what you said above and it's just not your bias conservative smoke you blowing I would argue you have little to no understanding of the financial world leading up to 2008. Nor have a handle on the severity of the crisis.- Obama the Genus, Err, Genius*

Dear Comrade Pravda,

I’m guessing that your commenting on blogs more than adequately qualifies you to be an expert, huh, comrade? It certainly shows you have a lot of free time on your hands.

Probably the years that I spent as an investment executive for several NYSE member investment firms, doesn’t help me understand finance at all.

Probably, when as a partner, I helped found, and then successfully sold in 2004 a brokerage firm- that doesn’t count either. Nor would that private bank I helped save from seizure in 2002 by successfully getting it refinanced by new investors help make me an expert in finance and investment.

Nor probably when Registered Rep magazine, the trade magazine for stockbrokers asked me to pen a feature article on the real estate meltdown in 2007; nor the feature story I wrote for the Los Angeles Business Journal about stadium financing; nor probably when Macmillan hired me to cover finance for Nature Biotechnology.

I don’t know what you were writing about in 2007 but I was writing about how the CDO market in sub-prime housing fueled Wall Street to take more risk for fewer returns. And that how the OECD was underestimating the severity of the crisis.                      

Msrudin wrote: The degree of ignorance on this website is monumental, I will now cancel my account. their is too much sarcasm and name calling. And now John Ransom is manufacturing issues. Yucky Slime.- EPA Takes to Air to Watch Cow Pies

Dear Comrade Rudin,

Wisconsin hurts doesn’t it?

Goodbye and good luck.

See you next week under a different screen name.

Truth 001 wrote: Why is it conservative error on the side of Paranoia. The EPA has obvious tested the water down stream and found high levels of bacteria in the water possibly E. Coli If you recall last summer in Colorado there was a listera outbreak caused by contaminated water possibly caused by cattle. This killed approximately 11 people and made 100's sick. If I were to guess the EPA is only doing their job. Looking for the source of a high bacteria count. - EPA Takes to Air to Watch Cow Pies

Dear Comrade Pravda,

Why is it that liberals err on the side of lying?

Interestingly I was down in LaJunta, Colorado about a week before the listeria outbreak last year.

My wife and I bought melons including cantaloupe from roadside vendors.

But the listeria wasn’t “possibly” caused by cattle.

“The federal Food and Drug Administration,” reports BusinessWeek, “has said dirty water on a floor, and old, hard-to-clean equipment probably were to blame for the outbreak.”

So unless your theory is that cattle were coming into the processing center at Jensen Farms to poop and pee on the floor, you are wwwrrrong.


That makes like 2347 times so far this year.

Yachtsman 388 wrote: WOW, Ransom actually proposes an expansion of government. The left would be proud. I'm suspicious though that if Soros were a well known Romney supporter would Ransom's opinion be any different?- Soros Says: Print More Money, Please- But I Propose the Soros Rule

Dear Admiral Kuznetsov,

Why don’t you go out and find me a Romney supporter who’s collapsing currency markets around the world and we can find out what my stance will be.

Go ahead. I’ll wait right here.

That’s it for this week,