All that guy is about is division and hatred amoung men in order to butter his bread and not better America.
All of his so called facts are taken out of context and spun in an attempt to rally people against the democrats, and they hang on his every word. His audiance does not have to think and he dumbs down the issues while distorting them so that his flock thinks it understands and is able to deliever an opinion no matter how wrong it is.
His cable show has a following of about 5 million viewers and they tune in to be made angry. I have made long time friends mad at me because I don't agree with his bullshit.
Lets compare what is going on in the EMU right now regarding Greece. Do you let them default and kick them out of the union or do you help them sure up their balance sheet?
These are the outcomes: If you help them, the Euro will weaken against all major currencies but there is no systemice fallout; if you don't help them, the Euro looses the burdun or drag on it, but a domino effect will occur amoung the weaker members of the union, thus causing a much more profound negative effect on Europe as these countries default and the systemic risk is much more expensive than helping Greece. The equivilant of out Fed Chairman for Germany supports helping Greece. The German are know for rigid monetary policy, this stems back to when they experienced hyper-inflation, therefore, they except unemployment over inflation. Unlike America, the unemployment of the Great Depression drives our monetary policy, so we are willing to except some inflation for jobs.
My point here is that we have had simular issues in America, such as Calafornia and Glenn Beck spins it as they brought it on theirself so let them fail and ties it to American's paying more tax for the bailout. This works well for him because neither congressional dems or repub are stupid enough to let a state goverenment fail, so he preaches from his soapbox how Obama and the democratic congress have no regard for the hard working american people and if you don't remove them from office, they are going to spend us into bankruptcy. When the truth is just the opposite.
Clearly deficits and debt are bad things, but this is not the time to correct them, because our only way out of this is growth, because if the economy shrinks so does our tax receipts. Think about how much tax revenue would be created if corporate profits increased by 25% and then think about how much would be lost if they shrank by 25%, which they have resently done.
Now I want to correct another fallacy, most small business owners pay little are no federal income taxes, no matter what the marginal rate is, becuase they are able to expense just about every personal expense they have before taxes, and if they are profitable enough to show a profit above that, yes they will pay taxes. However, everyone that makes a salary doesn't have the liberty to expense their cost of living before taxes. So this argument that small businessmen are struggling because of their tax burdun is bullshit too. Small businessmen are struggling because they have too much debt and have lost a considerable amount of cash flow from this economic contraction and their banks have their own problems and are not willing to take addition risk with them. So this aguement that if smallbusiness are given tax cuts they would expand their businesses is bullshit too.