Thursday, December 2, 2010

Tax Cuts … Duh

Monopoly-Guy-248x300Okay, so I’m watching the O’reilly Factor tonight and Billy Boy has a cute FOX correspondent with him. They show a clip of a Democratic  Congressman named Sherrod from Ohio.  In this clip, Sherrod is obviously addressing two hot topics that our congress is debating this month.  The Tax cut for americans making 250k or more per  annum, and extending unemployment compensation benefits for the  over nine percent of americans that are acknowledged to be unemployed.

The congressman says that he believes that the money spent on extending unemployment compensation will directly benefit our country’s economy while he believes that the 10 thousand that the tax cut would save high earners would simply sit in their savings account doing nothing to spur our economy. 

Billy’s guest says that she’s heard from Macroeconomists that have argued both sides when it comes to benefits of the tax cuts to the lower upper class.  Immediately Billy Boy decided to interrupt Blondie and interject “isn’t it widely accepted as fact that the Reagan tax cuts spurred the huge growth of the 80s”, “isn’t it true that immediately following Bush’s tax cuts that followed 9/11 there was growth”.  It was an admirable attempt by Billy Boy to keep the message flowing that he wants to flow.   The actual economic truth is that aid to lower income people spurs much more spending in our stores and restaurants than a tax cut for the wealthy.  Think about it, don’t wait for some talking head from the television or radio to tell you what to think.  That guy that is awarded an unemployment extension is using that money this week to buy xmas presents, and put food on his table. He’s going to take his kids to the movies this weekend to see Yogi Bear. 

Most of economics is small people with small needs carrying out their lives.  Economics isn’t difficult.  Ask a trickle down economist if the growth that Reagans regime presided over would have been possible solely with tax cuts and absent the massive deregulations of trade laws as well as the weakening of monopoly laws.  An honest economist will point out that the weakening of justice played an equal role in the economic boom, along with keeping the FED under strict control. 

95% of us are controlled by the top 1% of us (earners).  We don’t have to give them everything they want.  There is such a thing as a revolution.  Revolution starts by you deciding that the entities in control are treating you unfairly. It’s time for the average American to realize that we’re getting a raw deal and to look for things in our power to tip the scales back in favor of justice and fairness.


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