The huge tax cuts for the massively wealthy don't work. It didn't work for Regan and it didn't work for either Bushes. Bush doesn't govern for the good of the Country but for the good of the Uber-Wealthy, the Nuclear Rich, the Mega Rich. He owes them it's a pay back for funding his elections. The deficit is what is killing this Country. Do you run your household by crawling into insurmountable debt, and if you do isn't your life crippled by it? The same thing holds true for the government, and our national economy.
"The large share of the tax windfalls received by the wealthy are not spent in the short run. And even among those who are induced to spend more, the main effect is not increased demand for domestically produced goods and services, but rather increased bidding for choice oceanfront property and longer waiting lists for the new Porsche Carrera GT. Such spending does little to stimulate domestic employment." From the News Article Link in the Title - to which I might add, no duh!
Want more -
"Had the dollars required to finance the president's tax cuts been used in other ways, they would have made a real difference. Larger tax cuts for middle- and low-income families, for example, would have stimulated immediate new spending because the savings rates for most of these families are low. And their additional spending would have been largely for products made by domestic businesses - which would have led, in turn, to increased employment.
Grants to cash-starved state and local governments would have prevented layoffs of thousands of teachers and police officers. And many useful jobs could have been created directly. For instance, people could have been hired to scrutinize the cargo containers that currently enter the nation's ports uninspected."
So congratulations those of you who voted for W. the economy sucks, but at least we don't have gay marriages (morons!)
No comments:
Post a Comment