Posts Tagged Economic Stimulus Package
President Bush and many Republicans have been telling us how great the economy is since they enacted tax cuts for the wealthy and gave big business carte blanche. Now the housing market is falling apart, the stock market is tumbling, loan sharks disguised as “payday lenders” are legally robbing poor people who don’t know any better, and oil prices (and profits) are at record highs, as is the national deficit.
But they have a plan to fix all of that – More tax cuts!
From Yahoo! News: “By MARTIN CRUTSINGER, AP Economics Writer – WASHINGTON – The Bush administration, faced with a deteriorating economy and a big jump in unemployment, said Friday it was considering an economic stimulus package that might include tax cuts to ward off a recession…”
Albert Einstein said the definition of insanity is “doing the same thing over and over, and expecting different results.”
Are more tax cuts for the wealthy really the way to help our nation, all Americans, and our crumbling economy?
Yes, the deficit is getting smaller. Still a deficit, and still far from the Budget Surplus we had under Clinton, yes, but smaller. The national debt already run up by Bush’s policies (and Republican backing) however, remains absurdly high.
We can cut the deficit by cutting funding for education and health care, by cutting funds designated to help the the mentally and physically challenged, by cutting (or vetoing) health care for children, and of course for helping the poor and needy. But I don’t think that doing so, while giving multi-million dollar tax cuts to wealthy individuals is the way that a Moral Nation should be cutting its deficits.
Great answers, Crabby, Iceman and Ty (and others). Laissez faire (no government regulation of corporations)is the direct cause of things like:
> Our crumbling infrastructure
> Ken Lay, Enron and Arthur Anderson
> Predatory lending
> Use of foreign sweatshops
> Exporting jobs and supporting illegal immigration to replace Americans’ jobs (yours and mine) with cheap labor
> Insurance companies scamming billions and “sheltering” it overseas
> Hundreds-million dollar “bonuses” even for failed executives who destroy corporations and, more importantly, the lives of employees and their families
I agree – government that is TOO big is not good for the people, and the same can be said for corporations.
Allowing corporations to control the government, dictate our laws (including tax laws) and set the foreign and economic policies of our nation will not hurt the wealthy, but will reduce the middle class to slavery and ultimately destroy our nation.