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Friday, June 10, 2011

Where Bush Era Tax cuts are leading us

The chart below comes from the blog site, demandsideeconomics.net

American voters just have to wake up to the problems of continuing the tax cuts and how they are raising havoc with our economy and placing and increasing about of burden on the middle classes and the poor. One person on the blog site tells the story about the man who, to save money, kept feeding his donkey less and less. Of course the donkey got more and more emaciated and eventually died. Whereupon his own said, I almost had him weaned from food. That's what we are doing with our economy. We cut the programs that benefit the middle class and the poor (education, welfare, etc. and take away from the retired) making cuts in the budget and if it doesn't change the ultra rich will own a dead donkey, us. It makes no sense and yet the republicans are still telling the same old story and people buy it. The candidates sound like Reagan all over again when he promised to increase spending (mainly military) and decrease taxes and promised we would all benefit from that and get richer. It was a stupid idea then and a stupid idea now. As PK said in one of his comments, the balance sheet has to balance. You cannot decrease debt but taking away the programs that make people productive and paid well enough to sustain the economy. We need more truth and less fabrication in the current political debates. Fact check people, it's a civic responsibility.

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