Quote:
Originally Posted by buckman
According to Obama 95% of Americans will get a tax break which means 40% will get a check in the mail. I can't see how he is going to close the deficit with that math.
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Simple, if 95% of the people have more money they'll either:
1) Save it which will help solve our long-term credit addiction that's weakened our economy or
2) Spend it which will increase the revenues of businesses and increasing corporate tax revenues. With increased revenues business will be able to pay their employees more increasing individual tax revenues and invest for future growth.
Increased tax revenues can be used to pay down the defecit, assuming that spending is under control. This remains to be a giagantic problem regardless of who's in charge.
It's funny how for the GOP, more money in the pocket seems to be a good thing when it's the investor class, and a bad thing when it's the working class.
Trickle up and trickle down are not mutually exclusive.
-spence