Replies

We have tens of millions who cannot repay their debts. But they are all trying to. That sucks huge amounts of money out of the economy.

Not true, nor are his alternatives. Money used to pay debt doesn't go into some galactic Black Hole...it goes back into the system.

You really can have it both ways, except Obozo is too stupid and too Marxist to go along with it. For the tens of millions who are trying to pay back their debt, cut their taxes. This leaves them with more money to pay off debt and buy more goods are services. As consumer demand rises because take-home pay is now higher, business needs more inputs, from raw steel to labor. More labor means more (NOT less, you idiot!) tax receipts.

Now, cut the tax rate for corporations and make them permanent so corporations can plan around it. Is it by chance that the country with the second highest corporate tax rate in the world (the US) is struggling with 9.2% unemployment and negative growth while the country with the world's lowest corporate rate (Chile) has the highest growth rate and lowest unemployment rates? I don't think so. And this from a country that was going up in smoke under Allende's Marxist policies in the '70's. They saw the light...we don't.

Alas, lowering personal income taxes on ALL income levels and corporations doesn't square with Obozo's Class Warfare to destroy capitalism plans. I sure hope smart minds do better in 2012 than they did in 2008.

All those policies you suggest are needed. But they won't solve the problem of overleveraged, insolvent banks.

We can grow our economy if we get rid of Zero's roadblocks, but we can't grow it enough to clean up this mess.

Thank you for pushing back on the “debt repayment is money sucked from the economy nonsense.” It’s neither a dollar created or lost, it’s just a dollar somewhere else.

This false notion of “lost dollars” is the same as tax cuts or deductions “costing the government money.”