Monday, December 6, 2010

Democrats should follow J.F.K.'s lead on taxes

The democrats in Congress would do well to study a little of their own history as it regards tax cuts and spend a little time watching this clip.Today we find ourselves in the midst of the worst recession since the great depression. Unemployment is the highest it's been in more than twenty years,and,yet there are those in Congress who would like to raise taxes and add further injury to the economy!

They fail to understand that government does not create anything-other than onerous laws and regulations-it only consumes. The true job creators are...

  • Consumers who spend hard earned dollars on goods and services.
  • Those with capital who create jobs by financing new,and ,existing economic ventures.
When the government takes money away from these two groups there is less money available to be spent by both consumers and capitalists on true economic stimulus!

Contrary to his Democrat progeny J.F.K understood that if you want to grow the economy you have to cut taxes on everybody. The Kennedy tax cuts lead this nation into unparalleled prosperity through most of the 1960's Alas our politicians once again lost their way in the late sixties and into the seventies and thought the way to grow the economy was to tax and spend.

Unfortunately they failed to realise that the "people" and not the government are the true engine of economic growth. Fortunately for America  the "people"- in their wisdom- elected another man that knew the best way to rev up the economy was to lower taxes on both working people-as well as-entrepreneurs-his name was Ronald Reagan.

Today it was announced that President Obama and Republicans on the Hill had reached a compromise on extending the Bush cuts. Yet the Democrats  were said to be angered at this turn of events and could well try to throw a monkey wrench into the whole thing.

If they decide to try and let the whole thing roll over into next year it may well be one of the dumbest things they have done in some time. This country needs to demand real tax reform now,the Democrats would be much better served if they would take a look at this slice of history and learn from it,and America would be better positioned to start recovering from the disaster it has been in for far too long now.
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