Sunday, December 4, 2011
Cutting and Raising Revenue toward Prosperity (The Democratic plan as I understand it)
If you guessed the Democrat proposal is pretty close to the exact opposite, then you're basically right (go figure huh?). They actually want to reduce the deficit too, and actually just proposed a plan to cut it by $4 trillion over the next ten years. The only difference is that they want to do it through spending cuts and raising revenue (taxes on the wealthy and big business). A lot of Democrats actually don't even like this proposal because it goes too far in the cutting of entitlement programs (social security/medicare - and you can't lose the senior citizen vote). Now back to taxes, because so many Republicans feel that raising taxes on the rich is bad medicine for fixing the economy. They will tell you that we need to restore market confidence and all of a sudden those big businesses will start hiring more people and we will be back on track like that - magic! The funny thing is, those same big businesses are sitting on record profits, and a good chunk of that money they do spend is going toward politicians campaigns because undoubtably will they obtain favors in return (now I could branch out into campaign finance reform, which could put a cap on big business campaign spending, but conservatives are vehemently opposed to this). I am personally for keeping our government programs, taxing the wealthy to pay their fair share, and effectively putting the money back in the hands of the middle class (the part of the population that truly drives our economic prosperity). Consumer spending is what will bring our economy back; they will end up being the factor that pushes the business world to start investing again and adding jobs.