Wednesday, October 10, 2012
More on Romney's tax plan.
It's no secret that I don't think that the deception inherent in Mitt's tax plan is getting enough coverage. He's refused to say how he would offset the revenue losses. But more importantly he's relying on the same "growth fairies" that the GOP has been selling for as long as I've been paying attention to politics (Hint: that's 40 years)
Here's the question. If tax cuts invariably lead to growth that in turn leads to more revenue, then why aren't the Bush tax cuts doing JUST THAT for us now? They're still in place. If they worked, then they're still working. If they aren't working then what possible basis do we have to believe that we just need more of the same to make things right?
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It's a perfectly rational argument and I've been making it for quite some time. We've been under Bush tax cuts for 12 years (as they've managed to survive the current administration). If they really worked our economy should be bursting at the seams right now. It's even more baffling when you think about how when Clinton left there was a surplus but Bush pushed a tax cut anyway.
The simple truth is trickle down economics doesn't work because the people on top aren't holding up their end of the bargain. They've been keeping the savings they've gotten from tax cuts when they were supposed to be bolstering and expanding their work force. In the end, greed won.
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