Of course you don't have to be a Harvard educated scholar to realize that trickle- down economics never works. The money trickles into the pockets and various safe havens for the wealthy. It doesn't mean more jobs or investment in America's infrastructure. (The first Bush had a name for it back in the day. My friends from New Orleans will be quite familiar with it.)
But republicans love to talk about tax breaks for people who don't need it because those are the people who prop them up and buy elections for them year after year. (I see you Scott Walker)
The problem with president Obama is that he is too much of a centrist. He didn't push for more money into the stimulus and he allowed the Bush tax cuts to go on far too long. He was hoping for bi-partisanship and he tried to play nice with [right] wingnuts. That is always a big mistake. These folks are hard liners when it comes to their tax ideology, and they have all taken a pledge to protect the wealthiest among us by keeping their taxes low.( I see you Grover Norquest)
Wingnuts spend most of their time advocating for cutting government deficits and worrying about the long term debt outlook. Excuse me if I sound a bit selfish, but I am living in the present, and if we (by we I mean the government) don't do anything to spur economic growth by way of more (not less) government spending and programs, we could be facing another Bush style depression. I think it was Larry Summers who said, (God I hate to use him as an example) -and I am paraphrasing here- that the greatest threat to America's credit worthiness is a sustained period of slow growth. Just in case you have been living on another planet for the last few months, I would like to inform you that we have had a prolonged period of slow growth. Of course republicans, ever the patriots, are hoping that their fellow Americans will suffer more if it means that their guy can win the White House.
This will not happen if we have more spending on public works projects, more payroll breaks for real people in the middle class, and higher taxes for those who can afford it. Let's take care of the consumers first for once in this country. I know that they can't write fat checks like big business, but they are the ones spending their weekly earnings at Wal-Mart.
"Mitt Romney’s first major ad is substantive — and wrong. He tells us that on his first day in office — after approving the Keystone XL pipeline — he will “introduce tax cuts . . . that reward job creators not punish them.” The one idea that is almost certain not to jump-start this economy is a tax cut.
Why can we be sure of this? Because that is what we have done for the past three years. For those who think President Obama’s policies have done little to produce growth, keep in mind that the single largest piece of his policies — in dollar terms — has been tax cuts. They actually began before Obama, with the tax cut passed under the George W. Bush administration in response to the financial crisis in 2008. Then came the stimulus bill, of which tax cuts were the largest chunk by far — one-third of the total. The Department of Transportation, by contrast, got 6 percent of the total to fix infrastructure.
In the wake of a financial crisis caused by excessive debt, tax cuts are highly unlikely to lead to increased economic activity. People use the money to pay down their debts rather than shop for cars, houses and appliances. As for the idea that job creators are not creating jobs because their taxes are too high, think about it: Would Mitt Romney invest more of his money in American factories if only he had paid less than the 13.9 percent rate he paid last year? Please!"
What's that they say about the definition of madness? Oh yeah, it's doing the same thing over and over and expecting a different result.
Wingnuts, my friends, are truly mad people.