Once more into the breach, dear friends, once more!
Yesterday yr. obdt. explored one of America’s more interesting cities, that being the nearby Salt Lake City. While I haven’t yet taken the time to see the lake itself, at least not close up, I did wander downtown Salt Lake City, including some of its more interesting landmarks.
Most of those landmarks are in place due to the industry of the Church of Jesus Christ of Latter-Day Saints, and while I’m no more religious than I am the King of Norway, that’s no bar to appreciating beautiful parks and architecture. Salt Lake City has some of both.
While it was also my intent to visit the Wasatch Mountains east of here, there was a bug in the plan – most of the area I chose to drive through on Saturday ended up being, well, not particularly interesting for someone who is used to Colorado’s mountains. I know there are more scenic areas a bit farther afield, they will have to wait for another weekend.
A couple of things from the morning news crawl: Obama Skips the Kennedy Tax Cuts. A good explanation of the economic picture of post-WW2 America, and the things that proponents of Keynesian economics – and economic illiterates, of whom the President is one – tend to ignore. Excerpt:
From 1944 to 1960, with a top tax rate of 91 percent, the U.S. economy expanded at an anemic 2.1 percent annual pace, according to economic historian Brian Domitrovic. And during the Eisenhower years, the economy grew at a subpar 2.4 percent yearly rate, including three recessions, which Domitrovic says made for “the worst growth of any postwar president until George W. Bush and Barack Obama came along.”
So much for postwar prosperity.
But then came the 1960s, the decade liberals love to hate. Why? Because the path-breaking supply-side tax cuts of John F. Kennedy generated one of the greatest booms in economic history.
Actually, according to Domitrovic, it was two big tax cuts. The first was a business tax cut put in place in 1962, and the second was an across-the-board personal tax cut that began in early 1964.
The result? Domitrovic reminds us that the eight-year expansion from 1961 to 1969 saw growth of 48 percent — a third more in an eight-year period than in the 16 years ending in 1960. So the postwar prosperity of 1944 to 1969 did exist at roughly 3 percent per year. But only because the 1960s lifted everything up. Kennedy cut the top tax rate from 91 percent to 70 percent, but all other tax rates were also reduced for top-to-bottom income earners.
Moving along: Robert Stacy McCain brings us up to date on the Kaitlyn Hunt saga. Make no mistake – this has nothing to do with rights, gay or otherwise. This is the story of an 18-year old engaged in an illegal sexual relationship with a minor beneath the age of consent. The sex of neither party is relevant to the legal principle involved, except that if this was an 18 year old boy and a 14 year old girl, the boy would be in deep trouble and the media would be ignoring it. This is a pure and simple case of statutory rape, and there’s an end of it. Kaitlyn Hunt and her family are desperately trying to obfuscate this by making it a “gay rights” issue. They should fail.