02-07-2009, 09:13 PM
Bill in NC wrote:
Tax cuts work faster, which is why payroll tax cuts have been recommended.
It's been demonstrated time and time again that tax cuts don't work to stimulate the U.S. economy.
Think about it this way: Bush and Co. cut taxes and we ended up in a recession that seems to be on the verge of becoming a depression.
'Problem is that deficit-spending doesn't work either. 'Lots of factors come into play, including the huge interest on the loans the country has to take out and the fact that people realize that taxes will eventually have to be hiked to pay for it so they are likely to continue cutbacks even with more cash in the system.
What Congress and the President ought to be focusing on is what they can do under the various trade agreements we're signatories on -- including withdrawing from those agreements where necessary -- in order to boost domestic industry and consumer confidence.
...But they're not going to do that because we owe too much money to our trade-partners.
'Interesting pseudo-Catch-22. All that it takes to break the cycle is having people with courage and integrity in public office. Without that, we're going down hard.