( - promoted by jczacher)
There is an interesting article in the WSJ today concerning the stimulus proposed by Democrats that would send a check to I suppose middle-income families to the tune of $250 plus another $250 in bonus Social Security payments. But, you can read for yourselves if you go to the following link. Excuse me for not being more versed in providing a link you can click on. "online.wsj.com" is the website and the article is "Rubinomics R.I.P." I think you may have to sign up but that is your choice and it is in the free version. Oddly enough, Bush introduced tax cuts early in his administration but they were villified as nothing but welfare for the wealthy and only the top 1% or so actually benefited from them. It seems odd to me that the "tax cuts for the rich" helped stimulate an economy out of a recession and into a long running growth period because he added other cuts and breaks along with the check. Clinton's years in the 90s were ones of rapid growth with the dot.com explosion. Everyone was making a lot of money and the gap between the haves and have nots was growing. But, the dot.com explosion exploded and sent us into a recession. The housing market of the 2000s has collapsed and with the subprime fiasco, we are facing an uncertain future. The internet is producing some rather spectacular instant millionaires and billionaires but they are few and far between but what is created does not translate into very many actual jobs available for the average person. Another curious observation about the wealthy and privileged class is that Democrats apparently make up the majority now, not the Republican "Scrooges". Don't see too many of them lining up to redistribute their wealth to the poor and underprivileged do you? Oh well, I guess owning a sports team for entertainment is enough of a contribution to the good of the people don't you? Like it or not, admit it or not, we are in a serious downward turn in the economy. Some say we are in a recession and I don't necessarily disagree. We need something to kickstart the move out of the recession and maybe a tax rebate is the answer but without other incentives to go along with a $250 check, all we will have is a quick influx of short term money much like a "back to school sale". Once it is over, what then? Will there be anything in place to maintain any momentum the economy might gain? I would like to see some honest answers about the economy from the candidates, not another attempt to buy votes with my tax money. |
