Sunday, September 7, 2008

Obama: Recession Could Delay End to Bush Tax Cuts

To quote Joe Biden,

"...that's not change, that's more of the same."

Why does Obama criticize John McCain's view on the economy if he has seen the writing on the wall? Obama went on to say that taking away these tax cuts could send us into economic turmoil.

Then why does he want to raise taxes?

A free market economy grows from people spending money, people investing money, and people saving money. People have to have money to spend it.

Coolidge cut the tax rate from 74% to 24%, which resulted in the biggest economic gains in the history of the US. Years later, Reagan cut the marginal tax rate from 79% to 28%. I think we all know how the economy grew when Reagan was in office. $600 billion in added revenue during the Reagan era. That was during the Cold War!

Does anybody else see the pattern?

4 comments:

carriegel said...

i agree. raising taxes doesn't work. and i know mine are going up if obama is elected. if only i didn't like him so much my decision this fall would be so much easier.

curlz said...

you like him or his policies?

carriegel said...

i like obama as a person. i think he is a "good" man with good intentions. i don't agree with his politics. i want less government in my life, not more.

curlz said...

That's what I thought. I like him too, just don't know if he's the right next president.