Ok, at the end of the year the Bush Tax Cuts expire. We need to rename this The Bush Tax Bomb as the Congress thinks about making this permanent.
It is just like the Bush Economic Bomb that exploded in September of 2008 that took out our finances. Could any of us imagine had the GOP gotten the economy to sputter another two months more into November and exploded AFTER the election of Barack Obama? (You think the GOP is threatening impeachment now...)
The Tea Party People (Taxed Enough Already) are being irresponsible when they want to eliminate taxes and increase military. Unfortunately we are not taxed enough already. We need to pay for what we bought.
The government dumped huge amounts of money into the economy in terms of stimulus with the idea, "We are going to kick start the economy." Paul Krugman has it right when he talks about this cash not being enough. But the problem now is this stuff appears to be hoarded. Those who got the capital are sitting on it.
That is why the economy sputters.
The GOP plan for November is to lower or eliminate taxes -- look what happened with Reagan in the 1980's!
The counter to that: Clinton raised taxes in 1993 -- look what happened - economic growth!!
What is not factored in is the Greed Motivation. Greed motivates segments of our population; the greedy has money because that is their desire in life; and indirect form of control. However, if you say the government will take that money in the form of taxes, they get apoplectic. The greedy need control.
The government needs to de-incentivize these hoarders. If you are sitting on too much of the stuff, yeah, we are going to tax it so you don't have it. The rest of the country needs it. There is a fixed amount of this stuff printed. It does no one any good for you to sit on it. If you want to invest it, get the money into circulation. You won't get taxed when you do that.
Go back to what Capitalism really is:an economic system dependent upon the flow of capital.
If a segment of the economy kills the flow of cash, the whole economy withers on the vine. No one is saying you can't make a profit -- please do it to the best of your ability. Put steam in the engine to make our society go. But, if you are going to stop access to the fuel tank -- the rest of society needs to take action in the form of government intervention -- TAXES.
You know it is not unlike a foreign country saying we have oil reserves and we may not to give access to you. Neo-cons from both Bush administrations basically said, our society needs to take action in the form of government intervention -- WARS.
To those who are vehemently against any form of taxation, if you allow the Bush Tax Bomb to explode by making it permanent, when do we pay for the 2 wars we are currently fighting?