None of my stats are accurate, they are close, but not accurate and I want to call that out with full transparency up front.
A 39% tax bracket is not going to kill the economy and, even if it presumably slows it, it won't slow it to the tune of the 700 billion or so we would be borrowing to make up for the loan and interest payments. I am not against that tax bracket but you must offset it with spending cuts and the GOP shouldn't get away with an unfunded give away and giving cash to rich folks under the guise of "it'll help the economy trust me" any more then the Dems should get away with inefficient stimulus programs (though I find it comical that those who say the stimulus didn't work cite the drying up of stimulus as one of the reasons for contraction).
Furthermore I never trust the man who thinks he is fooling me because when you are right all you need is the truth and the GOP talking points are specious/misleading at best and all out lies at worst. For example only 3% of small businesses will be affected by the tax rate cuz most are smart enough to ensure the books only show 250k in profits anyways despite the fact that they claim 50% of small businesses which are the "job creators" will be affected. There was a time of class warfare when the highest tax brackets where things like 80% and such and those kinds of brackets were ridiculous and releasing that irrational amount of burden on the upper brackets led to all the good things about Reaganomics. That rising tide has risen now and the only way to raise the US again is to rebuild the middle class and I think a bit (ie 35% to 39%) is completely rational even if I someday soon fall into that bucket.
I am generally in favor of pro-business and lower taxes but you must offset with cost savings. It is just as irrational to let the chinese pay for our healthcare as it is to let them pay for the top 1% of American's private jets, but at least my Christian values feel warm and fuzzy on that one. The GOP is a great propoganda machine and this may very well cost Obama and Democrats, but that will have to be the price they pay to do the right thing. And when the GOP gets into power and drives us into the ditch again there will be a 1930's style backlash and all the people complaining about a sensible 39% are going to be overrun by a tide of populism when it jumps back up to 80% because they were short sighted now.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment