Wednesday, April 13, 2011

Tax Cuts Are Robbery!

Just read what the NY Times has to say about the lies and distortions of those Republicans promising to "save" the country, while they are actually only interested in that part of it they benefit from!

Here are two numbers to keep in mind when thinking about the House Republicans’ budget plan: They want to cut spending on government programs over the next decade by $4.3 trillion. And they
want to cut tax revenues over the same period by $4.2 trillion.
Government spending needs to be brought under control. But slashing vital services just to pay for more tax cuts is bad public policy and bad economics.
It won’t fix the deficit, no matter what the Republicans claim.
We’ve seen this play before. President Ronald Reagan promised that tax cuts would spur more economic growth and pay for themselves. During his tenure, the deficit hit what was then a peacetime high of 6 percent of gross domestic product, and he eventually decided that he had no
other alternative but to raise taxes to try to close the gap.


Here are a few more numbers to consider: Stimulus spending since Mr. Obama took office — including tax cuts — accounts for about $600 billion of the current $14.2 trillion in accumulated debt. The Bush-era tax cuts coupled with major new spending for two wars and a Medicare drug benefit, have added $3.2 trillion to the debt.
Mr. Obama must make the case for tax increases, based on reality, not ideology. Then, and only then, can a serious debate on the deficit begin.

No comments:

Post a Comment