'09 Profits Soar to Historic Highs, While Sales Plummet...
New jobless claims 'unexpectedly' soar...
Rise for second straight week...
Soros warns on market crash...
Foreclosure rates surge, biggest jump in 5 years...
Homeless 'Tent City' Settlers In Get Reprieve...
All of these headlines are from today. After the $840 billion "Stimulus" program, the $410 billion Omnibus spending deal, the $60 billion auto bailout, "Cash-for-Clunkers", HAMP, and trillions in unfunded liabilities, the economy is still flat on its back.
The CBO is warning that budget deficits are going to be far worse than earlier predicted. And this is before the economy is further strangled by DemCare, the expiration of the Bush tax cuts, and the ominous, economy-killing VAT tax.Democrats have the Midas Touch: everything they touch turns into a rusty muffler*.
* Hat tip: Henny Youngman
Yes, but taxes will also help decrease the deficit in that they will bring in a higher percentage of money.
ReplyDeleteBarry, high tax on a decreasing pool of taxable income ain't gonna do that. Create an environment favorable to job creation/growth will bring in more money than increasing tax.
ReplyDeleteLow tax rate from a larger pool of taxable income will do that.