Tax Cuts a Solution?
I was just reading this post and had a thought: why are both our candidates proposing tax cuts as a solution to the current problem with the market?
Tax cuts are for times where people are just holding money, when spending is down. Yet, I had read time and again that spending isn't down in the general market.
Instead, the problem with our current economy is: a) the loan industry, being that everyone involved were too stupid to check their responsibilities; and b) the price of petroleum going sky high, which hits most every product and increases inflation/cost of living.
Now, I'll give that there are some non-tax-cut solutions being thrown about for both. This is especially true for the problem on the price of gas, as both candidates have put up proposals. IF those proposals will actually be implemented, or how well they will work is debatable (notably because none seem to be a good immediate solution).
The problem I have is simply the willingness of candidates and the voting public to take those tax cuts. One of the first things you learn in politics is that everyone wants everything, with no strings attached. If you have tax cuts and more governmental programs on separate ballots; without a doubt both will be voted for. And that is happening right now.
Tax cuts are really smoke and mirrors. They won't solve any problems with our economy. What it actually is a form of legal bribery (see why McCain is trying to say his opponent would raise taxes) and it makes them look like they're doing something.
Politicians are masters of politics; they know how to get something implemented. The problem is that those politics don't let real solutions come forward.
Tax cuts are for times where people are just holding money, when spending is down. Yet, I had read time and again that spending isn't down in the general market.
Instead, the problem with our current economy is: a) the loan industry, being that everyone involved were too stupid to check their responsibilities; and b) the price of petroleum going sky high, which hits most every product and increases inflation/cost of living.
Now, I'll give that there are some non-tax-cut solutions being thrown about for both. This is especially true for the problem on the price of gas, as both candidates have put up proposals. IF those proposals will actually be implemented, or how well they will work is debatable (notably because none seem to be a good immediate solution).
The problem I have is simply the willingness of candidates and the voting public to take those tax cuts. One of the first things you learn in politics is that everyone wants everything, with no strings attached. If you have tax cuts and more governmental programs on separate ballots; without a doubt both will be voted for. And that is happening right now.
Tax cuts are really smoke and mirrors. They won't solve any problems with our economy. What it actually is a form of legal bribery (see why McCain is trying to say his opponent would raise taxes) and it makes them look like they're doing something.
Politicians are masters of politics; they know how to get something implemented. The problem is that those politics don't let real solutions come forward.
posted by SeanM at 11:34 AM
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