Friday, December 02, 2011

Some people have more practice believing impossible things

"I can't believe that!" said Alice.
"Can't you?" the queen said in a pitying tone. "Try again, draw a long breath, and shut your eyes."
Alice laughed. "There's no use trying," she said. "One can't believe impossible things."
"I dare say you haven't had much practice," said the queen. "When I was your age, I always did it for half an hour a day. Why, sometimes I've believed as many as six impossible things before breakfast." 
Lewis Carol, Alice in Wonderland
I just heard that the estimate of funds held in cash by US companies is now $3 trillion. These funds are not being invested in new plant or increased production for lack of consumer demand.

For some reason the Republicans seem willing to see payroll taxes increased in spite of the fact that that money goes into creating consumer demand. They want to increase taxes on workers in order to retain tax breaks for millionaires on the basis that the millionaires will create jobs with the extra money. If they are not creating jobs with the $3,000,000,000,000 that is earning almost no interest, why would they take the new money and invest it in job creation?

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