Someone needs to teach the President some proven history so perhaps we can avoid the disastrous road he’s driving us down. It’s as if President Obama is so arrogant that he refuses to acknowledge the proven success of the past with tax cuts that he won’t even consider the option.
Here’s one chart illustrating the fact that tax cuts create sustained jobs over the long haul:
Despite the mortgage crisis created by Barney Frank, Chris Dodd and others during the last few years, Bush’s tax cuts have helped to truly stimulate job creation, that’s an indisputable fact.
Jack Kemp examines Reagan’s tax cutting results:
One would have to ignore the facts if we didn’t give credit to Reagan’s military build up and his radical “supply-side” tax cuts of 1981 and 1982 to get our economy “moving again.”
He cut tax rates by 25% across the board, he defended and supported Federal Reserve Board Chairman Paul Volker’s tightened money tax policy, thus strengthening the dollar while wringing inflation out of the economy. These steps along with lowering the trade and regulatory barriers helped the U.S. economy grow well over 4.5% while unemployment dropped below 5% for the first time in a decade.
As the economy grew, revenues increased and the wealth of our nation began to produce the jobs that took unemployment from more than 6.5% down to 4.5% with price stability, something the Keynesian economists (and some conservatives as well) said couldn’t happen.
The simple fact is that when the government does not confiscate as much wealth, the country as a whole does better. However, when tired old socialist policies make their way into public policy from President Obama, the opposite will be true.
Under Obama, the government will be the only entity which is stimulated.
One can only conclude that President Obama is pro-government and little more.