More Obama Stupidity
President Barack Obama is proposing a tax package aimed at appealing to middle-income Americans, including an increased tax credit for child care and an expansion of tax credits to match retirement savings.
The proposals are intended to fit within the main themes — the economy, jobs and tackling the deficit — the president plans to sound in his State of the Union address on Jan. 27, according to an administration statement.
If at first tax cuts don’t succeed, or the second time, or the tent time, why then, suggest more tax cuts!
One more time, repeat after me. If you pursue bad policy, then you will reap bad results. The job market will not be improved significantly (if at all) by tax cuts, since every dollar a middle class schmuck gets, someone with pricing power (aka, the banks, healthcare industry, etc…) will take away.
Anything that by some miracle isn’t taken away, will be used to pay down debts or saved, and if a few cents are spent, they’ll be spent on crap from China and will generate no appreciable demand for US goods.
Tax cuts do not make the economy better, they certainly do not create jobs worth mentioning, and no, Virginia, they don’t improve the deficit either.
Schmuck. He still thinks he’s Reagan for the 21st century.