Sunday January 25, 2009 3:54 pm
Obama’s Tax Plan Similar To 2001 Failed Plan
After the terrorist attacks of Sept. 11, 2001, the US’s economy took a big hit. At the time, then President George Bush thought a stimulus(tax rebate) would help the economy recover. After two years of analysis, the government decided that their plan to “inject” money to the economy did nothing to help it’s condition. It didn’t help.
In 2003, a new plan was laid out. George Bush’s plans to cut taxes across the board. The result was record low unemployment, gains in the stock market, an increase in the country’s GDP, and lower taxes for all tax payers. The reason for the 2003 success was because lower taxes increase intensives to work, save, and invest, which creates jobs. That is what increases economic growth. Liberals, or, critics of this plan, argue that the economy recovered naturally, and no plan was needed to boost the economy. They ignore the sudden turn around in business investment, employment percentages, and stock market numbers.
In 2009, our economy is in a recession once again, and once again, the government wants to inject money into the economy, and try to stimulate it. The reason it didn’t work in 2001 is because just throwing money at the problem doesn’t create an intensive. As a matter of fact, investment spending decreased by 23%. If liberals argue that an economy can naturally recover, why don’t they try that first. When you give people or businesses money that they didn’t have to work for, how will that help this situation? It won’t.
My opinion is that everyone, including Obama, knows that his 850 billion dollar plan to rescue the economy is nothing more than a bill designed to make government more powerful.(I’ll have a post about that soon) This also supports my argument that people do NOT learn from history. Why bother looking back to past success stories? Why bother doing what works? The reason is because the government knows that most people are too naive to do a little research, and would rather just follow their President with blind faith. Like I always say, conservatism is what is needed to fix the problems cause by socialism. When will people learn?
For all that are interested, the station which I do a show from (Edge FM) will be debuting a political show very soon. Keep visiting http://edgefm.net for more details.
- Related Tags:
- 2001, 2003, 2008, barack obama, economy, george bush, government, history, liberals, recession, stimulus, tax cut, taxes, us
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