Tuesday, August 3, 2010

How do Dems decrease the deficit?

Forget about lowering spending - raise taxes! This point was reiterated again this morning on the radio show. I'm in the process of interviewing all 7 District 24 Congressional Candidates and the Democrat on air today sounded like a mouth-piece for Obama when it came to taxation. Literally, he said we must raise taxes on the "rich" because, quite frankly, "they can afford it". He also added that the Bush tax cuts never created a single job and are part of the deficit problem.

He wasn't invited on air for a debate with me - it was an interview and I treated it as such. But in my head, I was having my own debate...
  • Mr. Candidate, have you read the studies showing that the rich aren't spending money because of the uncertainty in our tax laws?
  • Have you considered the implications of taking the job-creator's wealth so that they can't reinvest it in their business or community?
  • What role does government have in stimulating the economy? (Okay, I did ask this question, and regulations and requirements was the answer.)
  • What about all the historical proof that LOWERING taxes actually increases government income and stimulates the economy?
Even the Democratic Idol, John F. Kennedy, had wiser sense when it came to taxation:

Tax reduction thus sets off a process that can bring gains for everyone, gains won by marshalling resources that would otherwise stand idle—workers without jobs and farm and factory capacity without markets. Yet many taxpayers seemed prepared to deny the nation the fruits of tax reduction because they question the financial soundness of reducing taxes when the federal budget is already in deficit. Let me make clear why, in today's economy, fiscal prudence and responsibility call for tax reduction even if it temporarily enlarged the federal deficit—why reducing taxes is the best way open to us to increase revenues.

—President John F. Kennedy,
Economic Report of the President, January 1963

So why aren't our candidates and politicians learning from history? Why do WE allow them to create the wealth war? Are we really that pitiful that we'll believe anything a politician tells us because we don't think it affects us?

NEWS FLASH: Taxing the rich affects every single one of us. Currently, the rich aren't spending because they're preparing for tax increases. No investment means no production means no jobs. History shows us that the higher the tax rates, the lower the revenue to the government.

In addition, whose role is it to stimulate our economy? TARP, the Economic Stimulus, Cash for Clunkers and the First Time Home Buyer Credit all instituted in the past two years were big fat failures. Money was borrowed from foreign countries and stolen from my child's future to buy votes and create government dependence. The more of us who can't make it month to month with out assistance, the more benefits we'll receive from the federal government. The more benefits we receive, the more ammunition the looters have to continue these worthless and bankrupt government programs.

Stop the bleeding and borrowing. Extend tax cuts to ALL Americans. Minimize welfare expenditures and release regulations so that the private sector can do it's job of CREATING jobs.

And just to clarify, tax cuts do not cause deficit. Spending causes a deficit. To say tax cuts are the problem is assuming the the government owns my income.

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