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Countering BS Arguments

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The Republican Convention is over – but, of course, the arguments will continue. If you watched any of the speeches, especially the gloom ridden rant delivered by Donald Trump, you may be wondering about some of the horrifying statistics thrown around. Is America really in such peril, with such incredibly high unemployment and violence in the streets?

The short answer is no, not at all. We’re at a turning point, as we’ve shown many times. The long Depression which started about the year 2000 is coming to an end. We’re literally at the glass half full stage, for us optimists. It’s fairly easy to counter that it’s half empty if you’re a pessimist, and there’s no reason we can’t have great time arguing about those perspectives while draining down a few pint glasses of beer if you’re so inclined.  But there’s also no reason to tolerate those who say the glass, or our great nation, is somehow completely empty.

You may run into some of these arguments in social media, a family gathering, or from the cranky guy at work who is really into talk radio. They are easy to refute if you have a few facts and figures under your belt. Here are some of the most common and pressing arguments that everything is bad and/or worse under Obama and how they can be refuted.

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Three Views of The Economy

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When the summer livin’ is easy, I enjoy sitting out on the porch with a few tunes.  Today’s lazing soundtrack was “Three Views of a Secret” by Jaco Pastorius as I went over some old posts to see if anything needed revisiting.  And this piece from July 2011 popped out as a debate that is still raging – but with some resolution.  It seemed to fit the tension that always builds in a Jaco piece.

Economists, as noted before, have widely divergent views about the economic situation and what should be done about it.  But the experiments that have been running through various economies are teaching us all a little bit along the way as to who may be right.  It’s worth revisiting.

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The Race is Hotter Than July

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The next two weeks will set the tone for the rest of the Presidential campaign. In fourteen days we will know just how everything is going, from the themes we can expect to carry through to November to the polls telling us how the horse race has started.

How will it shake out? If you’re a Republican, you’re probably hoping it won’t be a disaster. Democrats have their own fears for a disruptive show, but appear to be better prepared for a traditional convention bounce.

Here’s what to look for over the next two weeks.

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The Big Endorsement

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Bernie Sanders endorsed Hillary Clinton today. Nearly every story on this event contains the word “finally”, but that is not entirely justified. This is a process, not an event. Today’s message was dragged out until Sanders could get every concession to his movement that he could, and for good reason. That is primarily what Sanders was in this for all along – real, progressive change.

Now, it’s up to Sanders and Clinton to sell it.  The process is not over.

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Corporate Taxes

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What is a fair corporate tax? It’s a hot political topic, but one loaded with a tremendous amount of mis-information. On the left, it’s common to cite “loopholes” which allow corporations to “offshore” profits and dodge taxes as a result of corporate lobbying. On the right, the extremely high corporate tax rate of 38%, nearly double the worldwide average, is cited as a major problem.

Both statements are greatly limited at best. US corporate tax law does not contain “loopholes” but a series of structural deficiencies derived primarily from being hopelessly antiquated. Any discussion of the tax rate misses the main issues entirely, as the definition of “profit” – more accurately, definition of “income” and “expense” – is the core issue.

Any reasonable discussion of corporate taxes has to start with the fundamentals. What is a corporation? What is profit? Who benefits? What needs to be done?

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