Since the United States is in a revenue crisis and Congress has had to recently raise the debt ceiling again for the fifth (or so) time during the Bush Administration, and since Americans are facing another recession this year, the second during Bush, the Republican candidates for President are proposing tax cuts for businesses and a huge cut in the income tax rate for corporations in order to stimulate the economy
Does this make sense? It seems like the only thing that an across-the-board tax cut will stimulate is yet another huge give-away to corporations already making record profits! Most of American manufacturing has moved to countries where they pay pennies on the dollar for labor and thereby have increased their margin of profit tenfold. Has this or any other corporate welfare lowered the prices of goods and services? Has the corporate give-away by the Republicans created much needed jobs?
The answer is a resounding no!
The Republican candidates are hastening the downward spiral of fiscal irresponsibility. The tax cuts passed in 2001 and 2003 are costing the nation hundreds of billions of dollars per year. These tax cuts cannot become permanent.
Historically, a conservative (by definition) sticks to tried and true methods and is fiscally tight-fisted. A liberal, on the other hand, seeks the new and possibly better way to do things and isn’t so concerned if the books don’t balance. Today, the politicians calling themselves conservatives are more than willing to go out on a limb with policy and spend money until the cows come home. Liberals today long for fiscal responsibility and sound judgment where public and corporate welfare is concerned.
Our roles haven’t been reversed. What has happened is that the right wing has been so drunk with power that they have stepped further to the right (in hopes of more power) today than any time in history. What is referred to as the liberal left is actually the moderate center.