John Mccain wants to make Bush’s temporary tax cuts permanent. I have a problem with this. Why? Because the people who benefit the most from the tax cuts are the rich. The rich already has money, so giving them more money isn’t going to make them spend it any quicker. They will simply hold on to it and not put it back into the economy like the government wants them to do. A similar tactic was tried in the 1930’s afte the stock market crashed. It didn’t work then and it won’t work now.
Yes poor people getting tax breaks will help them out, but it won’t help the overall economy. Why? Simple. The poor have no money, any extra money they receive will either be put into a savings account or spent on something they need, not something they would like to have. What these people fail to realize is that no matter what the government wants them to do with their tax breaks, people will not be going out and buying a big screen television to make the economy better when they can barely afford to put food on the table.
Learn from the past, this tactic didn’t work in the past, it won’t work now, and it will not work if tried again in the future. Open your eyes people, it is time for a change, a New Deal for the New Age.