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It is astounding that Congress can be so out of touch with the reality of true economics and that the public will buy into the fantasy charade they are perpetrating. (See "The Stimulus Sham," March 3.)
Giving people money back from the taxes they have already paid, with the expectation that they will run right out and spend it, doesn't do anything to help the economy in the long run. It just creates a slight blip of increased expenditure--and it is over. The next day we are back to being in debt up to our eyeballs.
What our country needs is for people to be saving more money--not spending! That is what truly benefits an economy. Savings creates capital for business expansion, thus creating more jobs and more taxpaying citizens. It gives people a sense of security and the motivation to work harder to be able to save more. It is good all the way around. Our current national personal savings rate is a "negative" two percent! Spending only gets us further in debt and deeper in trouble.
It is ironic indeed that the very liberal politicians, who don't agree with tax cuts, can't wait to ...