So President Jesus H. Obama has been hailing the fall in the US tax bill that'll be happening some time later this year, hoping beyond hope that it'll give the kiss of life to the dying US economy. Now, I make no claims to be an economic expert, but aren't taxes needed in order to provide more money for the government? Yes there's the likeliehood that with a tax cut the public will go out and spend that excess money, but I don't see that being likely. People have been scared shitless by the talks in the media about this recession. If they see that they're saving money on their taxes, surely they'd put it into savings, not buy that 50" HDTV they saw at Wal-Mart?
Added to that is the $800 billion stimulus package that's been magicked into existence. Isn't this just the same problems sort of thing that got America into this financial mire (along with the two wars it's fighting)? Money being borrowed that just adds more and more debt? Wouldn't it be wise to follow President Clinton's economic programme that turned the American economy from a deficit into a surplus?
Economics isn't my strong suit, so I may be completely off base with this...
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