Monday, October 11, 2010

The insanity of tax breaks for millionaires

I keep hearing the TEA Party screaming that the reason they want Democrats out of office is because they’re all about big government and spending the taxpayer’s money. What they don’t seem to get is that last month our government shed nearly 160,000 jobs. The government now employs fewer people than it did during the Bush administration.

Republicans claim that lower taxes would foster more economic growth and more jobs but if you look at the last six years of the Bush presidency when taxes were near a century low you’ll find that zero net new private sector jobs were created. The remedy for this they claim is even lower taxes. Doesn’t this remind you of the famous remark “Insanity is doing the same thing over and over again and expecting different results”?

After WWII, the event which compelled massive deficit spending that finally brought this country out of the Great Depression, the U.S. was much deeper in debt than we are today. Through wise management by Harry Truman and Dwight Eisenhower who invested in education via the G.I. Bill and infrastructure like the interstate highway system our country became prosperous once again and the standard of living for rich and poor alike improved immensely.

The Republican argument that cutting government spending will help create jobs is kind of like a doctor telling you that the solution to your anorexia is to go on a diet.

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