Going against type (two): Typecasting
Type Two: The salesman
BRIAN WESBURY: The tort reform issue... the whole idea about creating more growth in the economy is that we always need to lower risk and increase rewards in the economy and that's the way you encourage more entrepreneurial activity.
Risk is tied to reward isn't it? This is a fantasy, not an economic plan.
And to lower risk and raise rewards you have to attack a number of things. Number one: Taxes are a punishment to those who are successful very often. So what we have to do is move to lower after tax - or, excuse me higher after tax returns. And I think that's what the tax cut last year did.
Interesting. Taxes aren't the means of funding collective needs and obligation. They are punishment to the wealthy.
I wonder if this is the guy who wrote that "Lucky Duckies" tripe in the Wall Street Journal.
We need to lower risks for investors, part of that is fighting the war on terror and making the world a safer place.
WHAT THE FUCK??
But another part of that is reforming the tort system, the litigious society we have because there are so many risks to businesses in this country coming from the legal sector, which raises costs and lowers returns and I think that becomes an important part of making sure this economy stays strong for the long run.
So we are lowering the risk of getting sued if you screw up.
Type One: the mathematician:
WILLIAM SPRIGGS: Well, I would say this, that we have set up a system in which litigation plays a role in correcting bad behavior for businesses because the cost of their errors are not borne by the company itself. So if you think of tobacco and what damage that did to our economy in terms of needless people-- needless numbers of people dying from tuberculosis, from lung cancer, et cetera.
So if you think about that and then look at the recent withdrawal of an arthritis pain reliever, because the company understood that they were going to face litigation, meaning that we wouldn't have needless doubts in that case, but tax reform has to be fair. We heard that word before about making it fairer. The economy has worked the way the president wanted it and that is that the returns of all of the growth in the economy has been to capital income, not to American workers. To shift the tax burden further on to the American worker means that we are putting even more burden on the American worker.
