Faith and Facts

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Filed under: Christianity, Church, bible

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Something they don’t teach at Business School (or in Washington).

Our Tax System Explained: Bar Stool Economics

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers,’ he said, ‘I’m going to reduce the cost of your daily beer by $20.’ Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free.

But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

‘I only got a dollar out of the $20,’declared the sixth man. He pointed to the tenth man,’ but he got $10!’

‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a dollar, too. It’s unfair that he got ten times more than I got’

‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’

‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, ladies and gentlemen, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia

HT to Lisa

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Filed under: Economy

HT to Right Voices

*** EDIT ***

Given the “passionate discussion and comments, I did a bit of digging and found some stats at Hot Air.

In 2004, Bush beat John Kerry by winning 62.04 million votes.  In 2008, Obama won 62.443 million, a gain of only 400,000. In 2004, Kerry garnered 59.028 million votes; John McCain only got 55.386 million.   That means this election saw 3.24 million fewer votes than four years ago.  Far from being more energized, the nation appeared to be more apathetic.

It also means that GWB got 51.2% and Obama got 52.99%. So the number for GWB is correct, not the 50.7 cited below, but BHO should be 53%.

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Filed under: Media Bias

My daughter wrote a wonderful note to her friends. She pointed out that after the last election, bumper stickers began to appear proclaiming, “Bush is not my President.”  As Christians, she said, we have a responsibility to support and encourage our leaders. This seems especially true when we did not vote for them.

While I will continue to speak out on issues from a biblical worldview, along with my wonderful Stephanie, I affirm that Barack Obama is my President and I will pray for him regularly. 

Take a look at the recent letter from the Presidential Prayer Team.

The Presidential Prayer Team is pleased to commit itself and it’s nearly 500,000 members to pray for the newly elected President of the United States of America, Barack Obama.

Calling in his acceptance speech for a new spirit of patriotism, service and sacrifice from the American people, President-Elect Obama swept to victory over Republican John McCain as the first African-American to hold the nation’s highest political office.

“We are and always will be the United States of America,” President-Elect Obama said from Grant Park in Chicago, IL. “A government of the people, by the people, and for the people has not perished from the face of the earth. This victory is for you.”

While saying a new dawn of American leadership is at hand, President-Elect Obama recognized that the road ahead may be tough and the climb steep in meeting the many challenges facing the nation, but that “we as a people will get there,” a sentiment followed by chants of “Yes We Can” from the huge Chicago crowd. He also called Republican presidential candidate John McCain a “brave and selfless leader” and said he looks forward to working with him and Governor Sarah Palin in the months to come.

Our faithful prayers for President-Elect Obama and Vice President-Elect Joe Biden are desperately needed. Their new administration faces the challenges of a struggling economy, active wars against terrorism in Iraq and Afghanistan, and energy and environmental concerns - all perhaps unprecedented in a generation. With I Timothy 2:1-2 as our biblical mandate, The Presidential Prayer Team is dedicated to praying for our new president’s wisdom, protection and success as he faces these issues, and many more, over the next four years

Today, we are launching a countdown in prayer from Election to Inauguration for President-Elect Obama. It’s called 77 Days of Prayer for our New President, and I encourage you to please sign up for this prayer initiative now using the link below.

We’ll send you an email every morning that includes a specific prayer point, Scripture and words you can pray - first in worship of our Holy God and then in intercession for the specified prayer point. There’s also an appropriate photo to inspire and direct your heart as you pray.

This is an incredible time in the history of our nation. Join all of us at The Presidential Prayer Team in congratulating Barack Obama and Joe Biden and in committing to pray for their administration and all of our leaders, our nation and our Armed Forces. Thank you so much!

John Lind
President/CEO

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Filed under: Obama, Prayer

Barack Obama has been elected the new President of the United States. While I continue to have doubts, concerns and issues about the change that is coming to America, I will pray for our new leader. Sadly, I have already heard from some folks that they plan to fight him every step of the way.

I will follow Mr. Obama closely as he acts on campaign promises and makes decisions on matters raised during the election cycle. If he seeks to repeal protections for unborn babies I will certainly oppose him. If he seeks, as he promised, to streamline government and eliminate wasteful spending he will have my support. Other issues, such as Islamic fanatacism, defending Israel, government spending, healthcare, taxes, will arise and I will participate in the process.

For Christians, we are commanded to follow, respect, pray for and even submit to our political leaders in an appropriate manner. It is a part of what has made our country great, in my opinion. After a hard fought campaign, it is time to gather behind our new leader and do what is best for our country.

. .

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Filed under: Obama