Tax cuts or socialist spending bill?
The difference between them is the difference between using glue and sniffing glue.
Tax cuts are accepted by economists to provide a 3 to 1 return, while social spending actually causes loss. The other little touted item economists across the board are worrying about, and Obama and Pelosi are definitely not telling is simple; sales tax collection is down 18%, over all tax revenue is down more. This 900 billion spending program will be followed up by an estimated one trillion dollar loss in government revenue, exclusive of any tax cuts.
So, the spending program won't work, revenues will be down, and we have the President of the United States, Barry Obama, screaming in public speeches that we're heading for a cliff. Great fear-mongering there chief.
Obama will get his socialist programs, despite history showing us that Japan tried the same thing, six times without helping their economy, and in fact, it hurt their recovery.
President Reagan cut taxes, and stabilized the dollar- we had a economic boom that lasted more than 20 years.
President Kennedy cut taxes, and the economy boomed.
Taxes were raised after the crash in 1929, and we went into the Great Depression. It can be argued that the socialist spending of the time made it worse. It is fact that we didn't come out of it until WWII and war production ramped up.
President Obama will get his socialist country, corporations will leave, jobs will leave, and then we'll get the change we were all promised. Personally, I don't want Texas funds to pay for California's lack of ability to stay within a budget.
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