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	<title>Comments on: Obama&#8217;s 95% Illusion</title>
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	<description>Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago boys including those pictured above.</description>
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		<title>By: Jake</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-274461</link>
		<dc:creator>Jake</dc:creator>
		<pubDate>Mon, 20 Oct 2008 20:40:21 +0000</pubDate>
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		<description>Correct me if I am wrong, but we give subsidies to oil companies in order to promote them to more actively seek out new sources of oil. Since with the process of finding and harvesting oil requires huge initial costs, costs that many times become sunk ones if the expected oil is not as plentiful/accessable, I learned in my economics classes that the government provided subsidies to the oil companies to help protect them from the somewhat staggering fixed costs associated with starting production on an oil field. So with that in mind, subsidies are very important to give to oil companies since it encourages them to find more oil, which in turn lowers the overall price of oil since the supply will increase as more is found. I know I know, now you say but look at oil prices and CEO profits yada yada.. if anyone is to blame for that, it is our government which blatantly and (I would honestly say after watching the squareoff between the 5 top oil compnaies and congress) proudly opposes the exploration of new places to drill for oil. Because the oil companies could not drill in areas they knew had oil, and their overall supply declined, but their demand increased (even just looking at America, we have an ever increasing demand for oil, and there&#039;s the obvious rest of the world that needs oil too) so naturally they began to charge more because in a capitalistic society where it makes sense to charge what people are willing to pay, people do it. (if any of this seems glaringly fictitious please let me know, I would not want to purposely spread false or faulty information. Thank you)</description>
		<content:encoded><![CDATA[<p>Correct me if I am wrong, but we give subsidies to oil companies in order to promote them to more actively seek out new sources of oil. Since with the process of finding and harvesting oil requires huge initial costs, costs that many times become sunk ones if the expected oil is not as plentiful/accessable, I learned in my economics classes that the government provided subsidies to the oil companies to help protect them from the somewhat staggering fixed costs associated with starting production on an oil field. So with that in mind, subsidies are very important to give to oil companies since it encourages them to find more oil, which in turn lowers the overall price of oil since the supply will increase as more is found. I know I know, now you say but look at oil prices and CEO profits yada yada.. if anyone is to blame for that, it is our government which blatantly and (I would honestly say after watching the squareoff between the 5 top oil compnaies and congress) proudly opposes the exploration of new places to drill for oil. Because the oil companies could not drill in areas they knew had oil, and their overall supply declined, but their demand increased (even just looking at America, we have an ever increasing demand for oil, and there&#8217;s the obvious rest of the world that needs oil too) so naturally they began to charge more because in a capitalistic society where it makes sense to charge what people are willing to pay, people do it. (if any of this seems glaringly fictitious please let me know, I would not want to purposely spread false or faulty information. Thank you)</p>
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		<title>By: jan</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-273533</link>
		<dc:creator>jan</dc:creator>
		<pubDate>Wed, 15 Oct 2008 19:56:06 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6310#comment-273533</guid>
		<description>&quot;The urge to save humanity is almost always a false front for the urge to rule.&quot; H. L. Menken</description>
		<content:encoded><![CDATA[<p>&#8220;The urge to save humanity is almost always a false front for the urge to rule.&#8221; H. L. Menken</p>
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		<title>By: Chris</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-273483</link>
		<dc:creator>Chris</dc:creator>
		<pubDate>Wed, 15 Oct 2008 06:49:12 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6310#comment-273483</guid>
		<description>&quot;..shouldn’t we focus on cutting spending first? ...&quot;

That depends...I would argue that the Iraq war was very necessary as well as high military spending....whereas you may or may not.  If we differ greatly on what is important, then there is no way we could possibly agree on what should get cut first.  

I would be in favor of nickel and dime-ing down every social program in the country and recuding waste there way before even looking at military spending.</description>
		<content:encoded><![CDATA[<p>&#8220;..shouldn’t we focus on cutting spending first? &#8230;&#8221;</p>
<p>That depends&#8230;I would argue that the Iraq war was very necessary as well as high military spending&#8230;.whereas you may or may not.  If we differ greatly on what is important, then there is no way we could possibly agree on what should get cut first.  </p>
<p>I would be in favor of nickel and dime-ing down every social program in the country and recuding waste there way before even looking at military spending.</p>
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		<title>By: Sean F.</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-273469</link>
		<dc:creator>Sean F.</dc:creator>
		<pubDate>Wed, 15 Oct 2008 03:56:27 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6310#comment-273469</guid>
		<description>The non-partisan Tax Foundation claims that both McCain&#039;s and Obama&#039;s plans are equivalent in terms of credits offered to non-tax-paying individuals under the Code, about 1/3 of the actual tax base according to 2006 numbers. See http://www.taxfoundation.org/files/ff146.pdf

More importantly, differences between the plans aside, I fail to see the importance of criticizing tax *credits* while ignoring spending. Much political blathering from both parties aside, anyone who studies the Code learns pretty quickly that, considering the tax system as a whole, there is no difference between taxation and government spending. It just happens that overt taxes/credits are visible. 

Given that the majority of our current debt is not occasioned by lower taxes or tax credits, but by massive overspending (see, e.g, a massively ballooned military budget, the Iraq war etc.) shouldn&#039;t we focus on cutting spending first? Also, tax credits help those below the poverty line. If we have to attack credits to low-income families, why not focus on special interest giveaways like agricultural and oil industry subsidies first?</description>
		<content:encoded><![CDATA[<p>The non-partisan Tax Foundation claims that both McCain&#8217;s and Obama&#8217;s plans are equivalent in terms of credits offered to non-tax-paying individuals under the Code, about 1/3 of the actual tax base according to 2006 numbers. See <a href="http://www.taxfoundation.org/files/ff146.pdf" rel="nofollow">http://www.taxfoundation.org/files/ff146.pdf</a></p>
<p>More importantly, differences between the plans aside, I fail to see the importance of criticizing tax *credits* while ignoring spending. Much political blathering from both parties aside, anyone who studies the Code learns pretty quickly that, considering the tax system as a whole, there is no difference between taxation and government spending. It just happens that overt taxes/credits are visible. </p>
<p>Given that the majority of our current debt is not occasioned by lower taxes or tax credits, but by massive overspending (see, e.g, a massively ballooned military budget, the Iraq war etc.) shouldn&#8217;t we focus on cutting spending first? Also, tax credits help those below the poverty line. If we have to attack credits to low-income families, why not focus on special interest giveaways like agricultural and oil industry subsidies first?</p>
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		<title>By: Obloodyhell</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-273459</link>
		<dc:creator>Obloodyhell</dc:creator>
		<pubDate>Wed, 15 Oct 2008 01:41:16 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6310#comment-273459</guid>
		<description>&gt; People don’t feel threatened by “socialism” the way they did by “fascism”.

Mainly because Hollywood has utterly ignored the USSR as a basis for stories. You&#039;ve seen all the horrors of the Nazis, time and time again -- rarely does a year pass without a critically acclaimed picture which deals with the Holocaust in some way... and that&#039;s a good thing.

But the fact is, the USSR and China were each just as effective as the Nazis in wiping out their citizenry -- and for much longer. 

The only movie with any distribution in recent memory which actually suggested anything about this is The Red Violin, which had a segment set during the &quot;Cultural Revolution&quot; -- and I seem to remember that it touched it only peripherally (I don&#039;t include The Killing Fields, which was Cambodia, not China or the USSR).

There&#039;ve been more movies made about supposed US &quot;attrocities&quot; in the last 15 years than there have about communist ones.</description>
		<content:encoded><![CDATA[<p>&gt; People don’t feel threatened by “socialism” the way they did by “fascism”.</p>
<p>Mainly because Hollywood has utterly ignored the USSR as a basis for stories. You&#8217;ve seen all the horrors of the Nazis, time and time again &#8212; rarely does a year pass without a critically acclaimed picture which deals with the Holocaust in some way&#8230; and that&#8217;s a good thing.</p>
<p>But the fact is, the USSR and China were each just as effective as the Nazis in wiping out their citizenry &#8212; and for much longer. </p>
<p>The only movie with any distribution in recent memory which actually suggested anything about this is The Red Violin, which had a segment set during the &#8220;Cultural Revolution&#8221; &#8212; and I seem to remember that it touched it only peripherally (I don&#8217;t include The Killing Fields, which was Cambodia, not China or the USSR).</p>
<p>There&#8217;ve been more movies made about supposed US &#8220;attrocities&#8221; in the last 15 years than there have about communist ones.</p>
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		<title>By: Shannon Love</title>
		<link>http://chicagoboyz.net/archives/6310.html/comment-page-1#comment-273447</link>
		<dc:creator>Shannon Love</dc:creator>
		<pubDate>Tue, 14 Oct 2008 22:02:58 +0000</pubDate>
		<guid isPermaLink="false">http://chicagoboyz.net/?p=6310#comment-273447</guid>
		<description>The point of socialism isn&#039;t to take care of people. The point of socialism is to make people economically dependent on the state and the political class that controls it. 

Every &quot;benefit&quot; that government grants comes with a loss of freedom. When you accept the states money, you accept restrictions on how to spend. If you don&#039;t take the money, you place yourself at a disadvantage e.g. declining to accept money to go to a government approved school puts you tens of thousands dollars in the hole at the start of your adult life. 

Look, at the list. You only get most of funds if you do what the government wants you to do. My family only qualifies for the first &quot;credit&quot;. That means we&#039;ll be paying for everyone else&#039;s goodies. 

You&#039;re welcome.</description>
		<content:encoded><![CDATA[<p>The point of socialism isn&#8217;t to take care of people. The point of socialism is to make people economically dependent on the state and the political class that controls it. </p>
<p>Every &#8220;benefit&#8221; that government grants comes with a loss of freedom. When you accept the states money, you accept restrictions on how to spend. If you don&#8217;t take the money, you place yourself at a disadvantage e.g. declining to accept money to go to a government approved school puts you tens of thousands dollars in the hole at the start of your adult life. </p>
<p>Look, at the list. You only get most of funds if you do what the government wants you to do. My family only qualifies for the first &#8220;credit&#8221;. That means we&#8217;ll be paying for everyone else&#8217;s goodies. </p>
<p>You&#8217;re welcome.</p>
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