To listen to Republicans, one would think that the Bush tax cuts were the most powerful stimulus to growth ever, and only a madman would even think of allowing any of them to expire. The truth is that there is virtually not a shred of evidence in support of the Bush tax cuts as the stated economic elixir.
If they had any positive effect on growth, it was to a very modest degree. Their main effect was simply to reduce our government’s revenue, quickly increasing the budget deficit. January 2001, the economy was clearly in a slowdown; this was a scenario that was entirely opposite economic conditions from when his tax cut plan was first proposed. Factually most mainstream economists, with knowledge of such rebates, have shown that they had no stimulating effect whatsoever.
It was factual that such rebates had a dubious stimulatory effect on the economy. Look now, 11 years after this discussion: Did these cuts create new jobs? That is hardly the case, the economy continued to deteriorate and unemployment rose sharply despite the tax cut. Where, pray tell, are all those jobs these cuts should’ve created? The economy deteriorates; happenings which follow are: increase in crimes, money not directed towards debts owed. Who picks up these costs, our states? This story is one that is crystal clear.
America is probably the only country, on this earth, where you can make the incomes made here. Yet there are those who feel as though their obligation to support the structure of our system is not owed. Perhaps I come from a background which makes my ideology on this subject different; my father was a WWII veteran; he would have rather overpaid than underpaid his taxes. My father devoted over a quarter of his life to public service. Father always considered being wealthy as much more than the accumulation of money.
That is the crux of this problem. Accumulation of wealth has become more important to many than maintenance of the American Dream. There are many of us who might see this dream as the accumulation of monetary wealth; my father saw it more as the accumulation of character, spirit, and dedication. The character to do what is right, no matter what the circumstance, the spirit, a term with many meanings, most which have the non-corporeal substance of things like courage, and honor, and lastly dedication, loyalty to your fellow man.
Now I need tread lightly, for there are those who are going to disagree. That is your right; that is the American way!
This is America because of the character, spirit, and dedication of citizens. These non-corporeal traits suffer in the absence of social measures enacted against poverty, which is the denial of choices, opportunities, insecurity, powerlessness and exclusion. What is it that lessens the importance of the United in our country’s name? Ignorance of that vital word in our name has Republicans suggesting cutting spending, along with budget reforms, instead of raising your taxes. I pray that everyone practice the axiom of it’s time to pay the piper in this scenario. After all, the loss of that part of our name will only serve to exhibit our growing division and weakness to the rest of the world. Our freedom is not free, its price rests heavily upon our unity.
The writer lives in Loris.