Expect excessive linkie-linkie to my local daily for a while. I just re-subscribed (after a year of thinking there was life after a daily newspaper and being wrong) to the Herald-Tribune, a fine paper that is about half of what it was just a few years ago. But even in this world of smaller and smaller papers, the Trib managed to grab another Pulitzer Prize this year for an exhaustive investigative report on Florida’s property insurance system – which legislators have refused to address (multi-part story here). Like I said, a fine paper.
I want to share a Letter to the Editor from today’s paper. The writer says it well.
Bad economic ‘solutions’
In the 1920s, the Republicans ran the country and we had the Great Depression. In the 1990s, President Clinton raised taxes to reduce the deficit and not one Republican voted for this program, but lots of them predicted an economic catastrophe. Instead we got unparalleled growth.
Then came Bush and, without any concern for long-term solvency of Medicare, Social Security, etc., those in power cut taxes, especially on upper incomes. And even after incurring huge wartime expenses, they never made any effort to roll back the tax cuts. The Republicans in Congress went along with every bit of this deficit spending, and we got the great recession.
These same “experts” now want to hold the country hostage to a refusal to raise any taxes. They tell us that raising taxes on the rich will slow job growth, but never acknowledge that job growth was far better when that tax rate was higher. Nor do they accept study after study showing that these tax cuts have the least stimulative effect on the economy. Cutting spending only to balance the budget will be a disaster, leaving us less educated and less healthy. Yet this is what these economic illiterates propose. The question isn’t only why their solutions are harmful, not helpful, but, why, given their record, anyone listens to them.
That’s about right. I will add that the bald-faced lie that extending the Bush tax cuts will lead to jobs creation, is just that. A bald-faced, evidence supported, lie. After the were signed into law, all we did was lose jobs. But let’s not let facts get in the way.