Saturday, February 6, 2010

Stuart Varney Tries to Teach Business to a Clueless Congresswoman

Representative Carolyn Kilpatrick of Michigan tried to filibusterer Stuart Varney, who was subbing for Cavuto, on Friday. She came on after the previous guest, a small business man, who stated he would like to hire an additional 75 workers for his business, but couldn't if his taxes increased.

The interview was regarding the drop in unemployment from 10% to 9.7%. Democrats point to this as a sign the stimulus is working.

Kilpatrick said, "We [Michigan] got $220,000,000 dollars of stimulus grants...along with other grants...there was also a tax cut for 95% of middle Americans." But she agreed more help was needed.

Kilpatrick then touted the re-use of TARP dollars being repaid by banks for a federal slush fund where, instead of using that money to pay down the debt or giving it back to tax payers, it would go to...more government programs. She mentioned $30 billion scheduled to be given to community development financial institutions, which would then allegedly loan out the money to small businesses. It should be noted that loaning big banks tax dollars did nothing to increase loans to small businesses. They used the money to purchase risky MBSs (mortgage backed securities) and other asset-backed securities. Essentially, it was like loaning a gambler money for groceries or electric bill and then finding he went to play slot machines.

Varney pointed to the previous guest and said, [The previous guest said he would hire] "75 people for his small business if he could be assured his taxes would come down and he could afford to hire. Would you approve of such a plan to lower taxes for individuals?"

"95% of middle Americans got tax cuts for last year...," Kilpatrick interrupted.

"But he doesn't," Varney repeated several times, trying to get a word in. "He gets a tax increase."

Then the finger wagging started from Rep. Kilpatrick, "I can tell you how he can grow his business. How he can grow his business is America's put back to work."

Wait a minute--isn't that what this business owner was trying to do...put people to work? This from a woman who has been in the public sector all her life and has never tried to grow a business. But it gets worse....

Varney tried again, "Having listened to our last guest, who says he runs a small business, 'If you cut my taxes, I will hire people.' Are you still in favor of raising those taxes?"

Kilpatrick responded, "I'm in favor of helping that small business. If he says he can hire more people that's what this administration is going to do."

"Then he wants his taxes cut...," Varney countered.

"Taxes are being cut...," she insisted.

"Not for the upper-income people...."

Kilpatrick, looking visibly irritated, said, "Bush took care of upper-income people, which is some of the problem we have now. We're trying to give tax cuts to middle-income people today and provide jobs so that people work and have revenue and buy from this company and others."

Varney was shook his head in defeat, "Those are not small business owners...." He then asked Rep Kilpatrick for an explanation on how a tax on the top 1 or 2% top income earners was going to create jobs.

"I can't explain that, that's not my job to explain that," she said.

"But we're talking jobs and Americans...," Varney started

"And the way you get jobs is you put people back to work."

At this point, I wouldn't have been surprised if Mr. Varney's head had exploded--mine almost did. Honestly, he had an amazing amount of patience. 

Can you see the circular argument going on? This is not some slick politician trying to parse political language. This is a clearly clueless representative who thinks jobs are created by government, not the private sector. She doesn't even know that a small business person who has employees is not a middle class taxpayer and would have to be one the "rich" making over $250,000 in or to employ others. But those in the public sector think all that money is going into their pockets when it's actually going back into their business and enabling them to hire more workers. 

Perhaps if Rep. Kilpatrick would use her ears and listen instead of running her mouth to parrot the latest talking points, she could learn something. To her, the government needs to take money from the "rich," give it to the lower and middle classes (and other entitled groups) who can then use it to buy things. That is their "plan" to stimulate the economy.

This wins my first "Clueless Representative" award. This is an award for the Representative or Senator who is devoid of rational thought. If I can come up of an appropriate placard I'll post it.

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