From the Cheap Seats: Economics for Democrats

June 21, 2013
By
And we're sure that Democrats are convinced they somehow "helped" the economy

Democrats seem convinced they somehow “helped” the economy by raising electric bills, boosting handouts and backing a new tax hike

DENVER–We can’t help it: Cheap Seats thinks it’s adorable when Democrats pretend to understand grown-up concepts like “the economy” and “jobs.”

Take Thursday’s press release from the Colorado Senate Democrats, in which they attempt to take credit for what they describe as Colorado’s recent “economic growth.”

“Facts and figures prove that Democratic action gets economy moving,” trumpets the press release.

Yes, it’s true: The party that never misses an opportunity to demonize the rich or cast aside reason in favor of shameless emotional appeals is now citing “facts and figures.” But wait, there’s more.

“I am proud that we put policy before politics this legislative session and were extremely effective in getting things done,” says Senate President John Morse (D-Colorado Springs).

Aww. Now that’s just cute, kind of like when a two-year-old “helps” Mommy and Daddy wash the car or fix dinner.

Cheap Seats has no doubt that Morse believes he “put policy before politics” even as he ignored his constituents on gun legislation and instead fell all over himself doing the bidding of New York Mayor Michael Bloomberg.

And we’re sure that Democrats are convinced they somehow “helped” the economy with their bills to jack up the cost of electricity by doubling the rural renewable energy mandate; expand the earned-income tax credit to include workers who don’t pay taxes to the tune of $100 million, or push a $1.1 billion tax hike on behalf of union bosses, er, K-12 education.

The Senate Democrats cite the June revenue forecast issued by the governor’s Office of State Planning and Budget, which reports that tax revenue was higher than had been projected in March.

First of all–and we’re going to say this slowly, so that even Senate Democrats will understand–economic growth and tax revenue aren’t the same things. Yes, we know that Democrats measure economic success by how much of the public’s money they get to spend, but there’s a bit more to it than that.

When President Obama announced he would raise taxes on capital gains starting Jan. 1, untold thousands of investors moved to sell in order to pay taxes on their stock sales at the lower 2012 rate. As a result, tax revenue has been higher than anticipated due to “tax liabilities on capital gains and other investment income,” according to the OSPB forecast.

In other words, Coloradans paid more taxes on their investments in their rush to exit the market, not because of anything Democrats in the state legislature did or didn’t do.

Now that the market is tumbling, we have to wonder whether the Dems will take credit for the anticipated plunge in tax revenue that should show up on future OSPB reports. Nah, we didn’t think so.

Still, we have to smile when we see Senate Democrats use big words like “budget” and “income.” It should be interesting to see whether their childlike grasp of economic principles will charm voters when the state really does start to feel the effects of the Democratic legislature’s “policies.”

Comments made by visitors are not representative of The Colorado Observer staff.

2 Responses to From the Cheap Seats: Economics for Democrats

  1. Not Morse
    June 22, 2013 at 7:33 pm

    Morse didn’t help anyone force-feeding Viaero’s telecom bill through UNSUCCESSFULLY. That was certainly VIAERO’s POLICY over constituents interests. Morse must go.

  2. Tom
    June 22, 2013 at 10:31 pm

    With the $1B tax hike for education, they showed little restrain. It’s interesting that few Democrats are on the road selling it.

    For the first time in my life, I am voting R down the line next year. This legislature has totally alienated me.

    Hopefully the CO GOP won’t fall on their own sword.

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