The most recent staggering stupidity (our contest winner!) is from the White House, where “President Barack Obama said Thursday he wants to tax banks to recoup the public bailout of foundering firms at the height of the financial crisis.”! Hahaha!
I am sure that you, being the astute Junior Mogambo Ranger (JMR) that you are, are laughing merrily with along with me – Hahahahahaha! – because this is so, so, so Theater-of-the-Absurd funny on so many, many, many levels, once you get beyond the horrifying, un-funny realization that it is abysmally, shockingly, alarmingly stupid on just the one level: it is a known fact that a tax on a business is just another expense to the business, like labor and raw materials, that is added to the prices that they must charge their customers in order to make a profit, which makes prices go up as the businesses raise prices to maintain their profit margins by recouping the tax they had to pay by, in case you haven’t been paying attention, raising prices, which is inflation, which is the one thing a country does NOT want, making a tax on business the most stupid thing you can do.
We haven't heard from The Mogambo Guru in a while. He is known for his long, rambling sentences and his - seemingly - demented approach to economics but much can be gleaned if you read beyond the zaniness and tomfoolery.
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