Sunday, June 12, 2011
Are We As Stupid As The Republicans Think We Are?
And on top of all of this, we have Tim Pawlenty proposing tax cuts three times the size of the Bush tax cuts. Tax cuts that will cost $7.8 trillion...and explode the deficit.
But he says his economic plan with create an economic growth of 5% per year for 10 years. Never mind that it has never been done before. We have never had a 10 year period of economic growth of that magnitude.
We have had a couple of short periods of economic growth of about 5%, one under Reagan and one under Clinton. So we just need to repeat what they did but for a longer period of time.
But wait! Those high growth periods, the highest growth periods in the last 30 years, occurred after TAX INCREASES.
Federal income taxes are at historic lows now. Republicans want to reduce them further. They say reducing taxes will result in 5% growth for 10 years. But the only times in the last 30 years where our economy has achieved 5% or greater growth is after a TAX INCREASE, and they were tax increases on top of taxes which were higher than they are now!
How stupid do the republicans think we are?