Alan Greenspan said McCain's tax plan won't work. McCain still doesn't know what he's doing? How will he afford 3.5 trillion in tax cut without cutting spending?
History has shown - with Kennedy and Reagan both - that tax cuts increase revenues to the government. Spending needs to be cut, too, but tax cuts encourage investment, which results in increased income, which results in more tax collected by the government. Also, if taxes are increased on corporations and small business owners (who pay individual taxes, not corporate taxes), they will have to pass that cost of doing business on to their customers - costing the average American more money, or they will have to find ways to cut other expenses - potentially by cutting jobs, or not creating new jobs.
On the other hand, Obama has proposed more new spending than could ever be paid for with the taxes he proposes.
All things considered, I'll take McCain over Obama any day...
4 comments:
Too bad this isn't being broadcast as a political commercial all over the country!
The first one, the one with the soldier speaking, has been viewed nearly 6 million times in the 2 weeks or so it's been posted...
Alan Greenspan said McCain's tax plan won't work. McCain still doesn't know what he's doing? How will he afford 3.5 trillion in tax cut without cutting spending?
History has shown - with Kennedy and Reagan both - that tax cuts increase revenues to the government. Spending needs to be cut, too, but tax cuts encourage investment, which results in increased income, which results in more tax collected by the government. Also, if taxes are increased on corporations and small business owners (who pay individual taxes, not corporate taxes), they will have to pass that cost of doing business on to their customers - costing the average American more money, or they will have to find ways to cut other expenses - potentially by cutting jobs, or not creating new jobs.
On the other hand, Obama has proposed more new spending than could ever be paid for with the taxes he proposes.
All things considered, I'll take McCain over Obama any day...
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