So our head republican, John Boehner doesn't care for Obama's economic plan. He thinks that we should implement tax cuts. Get this, "We presented President Obama with our ideas to jump start the economy through fast-acting tax relief — not slow-moving government spending programs," House Republican leader John Boehner of Ohio said in the weekly GOP address. "We let families, entrepreneurs, small businesses, and the self-employed keep more of what they earn to encourage investment and create millions of new private-sector jobs."
Boehner said the Republicans would cut taxes for every taxpayer, dropping even the lowest income tax rates. "That's up to an extra $3,200 per family every year — money that can be saved, spent or invested in any way you see fit," Boehner said. He also proposed a tax credit for home purchases, an end of taxation of unemployment benefits and tax incentives for small businesses to invest in new equipment and hire new employees.
"We cannot borrow and spend our way back to prosperity," Boehner said." Oh my God. I just can't imagine where these guys get their ideas. So we can tax cut ourselves back to prosperity? Johnny in case you didn't realize this you gotta have a job to pay taxes. And if you got no job a tax cut is gonna get you nothing. Get it? You got to be a taxpayer before a tax cut does anything for you. I just don't understand this continued belief that tax cuts will solve all our problems. Maybe if you already have a gazillion bucks in acquired wealth that is a great idea but we have already had 8 years to try out the tax cut strategy and IT DIDN'T WORK!
We can't borrow and spend our way to prosperity he says, but actually that is exactly what we can do. If the borrowing and spending create jobs that pay taxes and allow people to consume then we can do exactly that. Consumption drives our economy. And unless Mr Boehner has a radical idea to change the driving factors of our economy then we need jobs and consumers to start the engine of our economy. Look, although some wealthy SOB's would like you to think that Keynesian economics didn't work they are wrong, it did work. I helped to put people to work and begin the end of the Great Depression. So Obama's Idea is a good one. Let's try it out before we start saying it doesn't work. Because the Tax cut strategy sure as hell didn't work.
