By Skip Thacker
Most of us have used “Cliff’s Notes” during our schooling—
Well, here are some
“FISCAL CLIFF’S NOTES”
Obama and the Democrats want to raise the tax rates on the top 2% incomes.
This will fund the government annually only for an estimated 8 days!
This is patently NOT a serious solution to our economic problem.
Further, NO serious, specific spending cuts have been forthcoming from the White House.
Obama is not interested in a solution to the “Fiscal Cliff” problem—he only wants to punish the wealthy—the JOB creators!
If Obama were really serious about needing additional revenue (which he is not!), he would look at the way to “grow the economic pie," to stimulate private sector growth, and increase job growth.
He would look at the history of past economic growth periods:
1)- 1920’s Coolidge tax cuts—resulting in the Roaring 20’s!
2)- 1963 JFK tax cuts---resulting in a booming late 60’s economy!
3)- 1983 Reagan tax cuts—resulting in the longest and strongest economic growth of the century!
4)- 2002 G.W.Bush tax cuts---resulting in strong growth economy, until the housing bubble burst (courtesy of Dodd/Frank), followed by the 2008 stock market dive.
Based on this history, increasing revenues to the government can only occur by a REDUCTION OF ALL TAXES, including personal income, corporate income, and estate taxes.
This will stimulate industries’ releasing pent-up cash reserves for expansion, hiring, and will result in an expansion of our “economic pie."
On the spending side, Obama is not interested in any spending cuts—including reforms for Medicare, Medicaid, or Social Security.
His goal is to increase citizen dependency on “Big Government," assuring that the “takers” outnumber the “producers," so that the Left will stay in power!
Please tell me how I am wrong on this analysis!
The bottom line---
This “president” is determined to take the United States down, brick by brick, due to his innate disdain for our Capitalistic Country!
In my opinion, our next move should be to initiate impeachment proceedings, based on his total incompetency to serve the USA properly!!