"Stimulus-Package Talk Contains Myths"
USA Today, January 14, 2003, 13A.
By Terry Paulson,
Bring on the battle--It's the Republicans' Trickle-Down Economics vs. the
Democrats' Spigot-Down Economics. To fight the Bush plan, the Democrats have
brushed off their class warfare talking points. They want to keep taking
from the "rich," wealth-producing, risk-taking Americans and turn on the
government spigot with one-year rebates to the non-producers who vote to
keep them in office. Their stimulus package wants more money for the states
but no tax relief for the Americans paying the bills. I've had enough of
their economic myths:
1. The rich do not always get richer. In sustained economic downturns, many
"rich" go bankrupt taking their businesses and the jobs they created with
2. Any across-the-board tax relief plan will always benefit the rich more,
because the top 25% of the income producers pay 83% of the income taxes.
After Bush's tax plan is fully implemented they will pay an even a higher
percentage of the tax load than they do now. If you're making more than
$50,000 a year, the Democrats think you are rich enough to deserve no tax
3. Most Americans want a job that lasts, not a handout. When was the last
time you were hired by a non-producing poor person trying to leverage a $600
one-year rebate check?
4. Kennedy and Reagan proved that tax cuts are not a cost; they are an
investment. Cuts stimulate business activity that creates economic growth,
new jobs, and increased tax revenue. With Republicans keeping government
spending in check, the deficits will decrease as the economy strengthens.
Bring on the Bush plan now, and if you want the tax rebates of the rich, try
paying their taxes!
Terry Paulson, PhD