Idiotic economic policy
President Obama continually says he will build the economy from the middle class out. Hmmm. How does that work exactly, Mr. President?
It may make for good class warfare campaign rhetoric, but as a practical matter, it is nonsense.
Throughout economic history, those in what Obama calls the “middle class” have been the beneficiaries of a strong and growing economy, not the initiators. The catalyst for growth has been the investment of a great deal of private capital by those who are willing to take risks with their money in hopes of a reasonable return.
In doing so, private-sector enterprises flourish and (middle class) jobs are created.
So, the question is, how does the middle class amass the capital to invest in the private sector and thereby get the economy going? I don’t know, and Obama can’t seem to explain it to the American people.
His proposed budget would have the federal government borrow billions more on the taxpayers’ tab to spend on hiring more teachers, police and firefighters.
This is his solution to get the economy going? Bigger government?
His own party won’t even vote for his “jobs” bill. It’s just another example of this president’s idiotic economic policy.
Mitt Romney’s disparaging remarks about voters who do not pay federal income taxes is demeaning.
Voters who do not pay income taxes are people without sufficient income to meet the taxpaying threshold. Their income is too low or tax exempt. Most would like to pay income tax.
The word “entitlement” has been corrupted. Entitlements are not necessarily handouts. Citizens who receive Social Security and Medicare benefits have earned these by making contributions for years. Their contributions were part of their compensation.
They are not dependent on government any more than veterans’ benefits make them dependent on government in the sense that the benefits are unearned.
Romney’s 13 percent effective tax rate is primarily caused by the low tax rate on dividend income and long-term capital gains. He wants to eliminate taxes on dividends and capital gains.
The Internal Revenue Code is riddled with loopholes benefiting higher-income earners.
Just as many taxpayers do not pay federal income taxes, many corporations do not pay corporate taxes or pay a very low effective tax rate.
According to Citizens for Tax Justice, GE paid an average effective tax rate of 2.3 percent over the last 10 years.Is GE irresponsible and dependent on government dole?
The statutory income tax rate for corporations is 35 percent; the average effective tax rate for all corporations is 27.1 percent.
Taking advantage of tax loopholes does not make individuals or corporations irresponsible.
It does support the belief that federal tax laws are badly in need of reform.
None so blind
There are none so blind as those who will not see ... or something to that effect, came to mind reading Dolores Vann’s letter to the editor [DRC, Sept. 19]. According to her, Obama has saved the United States from certain doom.
What I found particularly amusing was below her letter — which contained the statement, “Restructure the auto industry, and reclaim America’s leadership in clean-energy jobs,” was the editorial, Car crash by the Washington Post [Other voices, DRC, Sept. 19], which stated, (after doing an accounting of several billion dollars of taxpayer dollars paid out), “No matter how you slice it, the American taxpayer has gotten precious little for the administration’s investment in battery-powered vehicles, in terms of permanent jobs or lower carbon dioxide emissions.”
Until the federal government moves to the center — hasn’t happened in 12 years — we all are doomed.