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07/05/2011
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Raising taxes will depress revenue by chocking productivity as a result of investment being punished.Also by hiking tax rates avoidance rises.The American people have made it clear that they do not want higher taxes and support cutting federal expenditure to slash the budget deficit.Hence the 65 GOP gains in the House & 6 in the Senate last November and the results of most surveys since then.The voters disapprove of Obama's job performance - especially on the economy & the deficit.
President Obama should heed the will of the people and turn right towards the centre a la Bill Clinton.By extending free-trade,reducing business red tape,getting credit flowing and cutting federal spending & borrowing Obama can get the economy moving.He could scoop up independent voters & win re-election by a big margin.
Politics & economics point to a right-turn by the Democrats.Trouble is they seem to lack the wisdom to do this.
Posted by: Matthew Reynolds | 07/05/2011 at 04:39 PM