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President wants everyone but himself to pay more
Topic - Walter E. Williams
America is the story of people arising from adverse circumstances, achieving great success
Historical costs, sometimes called sunk costs, are irrelevant to decisionmaking because they have already been incurred. That's not intuitively obvious, even for some trained economists.
Just about the most difficult lesson for first-year economics students, and sometimes graduate students, is that economic theory, and for that matter any scientific theory, is positive or nonnormative.
Mr. Williams quoted Van Jones, Mr. Obama's former "green jobs" czar, claiming the Romney campaign slogan "Obama Isn't Working" implies he is a "lazy, incompetent affirmative-action baby" rather than just a lazy, incompetent leader.
Black economist Walter E. Williams has argued that Mr. Obama is held to a lower standard than white politicians.