Today we have a short, to the point, brilliant article from Walter E. Williams, A Failed Obama Hero. Clearly the Obama Administration needs to look at what actually happened during the Depression rather than what they choose to believe happen. The desire to believe in Fantasyland is charming in a child, embarrassing in an adult, and disastrous to the economic health of our country.
It's a very simple principle .... the government creates nothing (except bureaucracy and dependency, of course). Every dollar it spends must be taken away from a taxpayer or borrowed from China (or others). Dollars taken from taxpayers are removed from the marketplace and cannot be spent buying food, cars, vacations, etc. or investing in business, and therefore cannot create jobs.
It is insane to continue this myth that our government can spend us out of economic difficulty. Every new tax destroys jobs, which means less people paying taxes and ultimately less tax revenue. Every tax cut allows taxpayers to buy goods which creates jobs, which means more taxpayers and more tax revenue.
Roosevelt learned it the hard way. If President Obama considered Roosevelt to be one of his heroes, why is Obama not paying attention to the reality of what the continued fiscal irresponsibility of his administration and Congress will cause, as proven by Roosevelt & Hoover.... high(er) unemployment, jobs leaving the country (to a more business-friendly environment), lower tax revenues.
It really is that simple. Cut taxes, employment and tax revenue will increase. Raise taxes, employment and tax revenue will decrease. Which is a better solution for our country?
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