Tuesday, November 25, 2008

A Panacea for Economic Growth

The Democrats just don't get it, do they? According to this article, "Governments across the world are now diving into deficit spending, chosen as a means with which to "stimulate" their national economies. The US is leading the global parade. Only two weeks ago, the deficit estimates for next year were between $US 1.5 TRILLION to an average of $US 2.1 TRILLION. But in an interview last weekend, President-elect Obama said that the government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy."

Yet didn't Barry Obama and his Democratic counterpoints argue that it was Bush's "Tax Cuts for the Rich" and his deficit spending that put us in our current economic predicament?

Most of you probably realize that it's okay for forked-tongued Liberals to speak out of both sides of their mouths, especially when it comes to fighting global warming, giving handouts to poor people, and paying for universal health care.

We've heard from President-Elect, Barry Obama that he's planning on raising taxes on the rich, raising the capital gains tax, lowering carbon emissions, etc. Ultimately, it will be the middle class that suffers, in lost jobs, higher energies, and less wealth, overall.

Why, so we can line the pockets of people like T. Boone Pickens and Al Gore in their trumped up battle against Global Warming, Big Oil, and Big Business.

According to Scott Bensing of Townhall.com, "
The reality is simple, lower taxes attract businesses, which generate jobs and money for the local economy. That is how to improve the current economic environment, not back-breaking tax hikes and the anti-business environment promised by Democrats."

Yet, Democrats across the nation are looking to raise taxes in the time of economic downturn.

Haven't we been through this before with Jimmy Carter?
The solution is to cut taxes as well as spending but to cut spending faster than taxes to leave more real economic and financial resources in private and individual hands so that they can repair their balance sheets. On top of that, interest rates must be raised - not lowered - to reward savers for producing more than they now consume.
Democrats just don't get it; that's the gesalt for spurring economic growth. After all, you can't tax your way out of a recession.

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