Letters to the Web Editor

M. H. Bookout · Joined: 18 Jul 2008 10:55 am Posts: 82

Governments operate on Tax dollars David that is their main source of funding. Lowering taxes may in some cases result in new revenues but not without spending cuts along with the tax cuts. Without those spending cuts your result is higher borrowing of funds to make up for lost tax dollars. Thats why now 27 years later we are now 9.6 Trillion dollars in debt due to borrowed funds instead of using tax dollars. The now 117 million tax payers, IRS approx figures, would have to pay $82,000 dollars each to pay this debt off. You can pay now or pay later but the bill will come due, your tax cuts will cost your children and Grand children higher taxes "guarenteed". As far as oil drilling goes if you will go to any gas station you will find there is no shortage of gasoline, the oil companies for the last few years have claimed they are at or near full production at their refineres. So if you did get more crude oil just where are you going to get it made into gasoline? Remember the oil boys are at full production, and they wouldn't lie about that. Lets not mention the fact they chave closed down 50 plus oil refineres in the USA over the last decade, and have built only one and that one is located in the US Virgin Islands. Just the same when I go to the Texas coast I don't like to have to keep cleaning all the oil off my feet but it is necessary because of the oil that spills out of well production and fouls our beaches. I don't blame the people in Florida or California I would like to keep the wells from being drilled off shore there also and keep the beaches clean tourists spend in the billions also. Better to foul the beaches of Iran & Saudi Arabia than ours. Not to mention the oil companies have 68 million acres under lease now they can drill on, yet they are only spending about 6% of their record profits on developing new well sites & drilling but are spending near 30% on stock re-purchases and stockholder dividends.

Bill Pelland · Joined: 25 Feb 2008 07:34 am Posts: 425

Bookout is correct.

Deficit spending to give tax cuts makes no sense and when George Bush (the elder and wiser) said trickle down economics was voodoo economics he was correct. The answer, simply put, on one of the fact checking sites is:

Q: Have tax cuts always resulted in higher tax revenues and more economic growth as many tax cut proponents claim?
A: No. In fact, economists say tax cuts do not spark enough growth to pay for themselves.

After Reagan cut taxes, he turned around and raised them 3 times during his presidency. He was the father of the Voodoo economics, the so-called trickle down theory.

The tax cuts have not only increased our national debt but have also resulted in the depletion of the Social Security surplus that Reagan had increased taxes to create.

It's time to change direction. Obama for President and Noriega for US Senate.

Bill Pelland
Murchison, TX

Smith Wimberley · Joined: 26 Feb 2008 12:12 pm Posts: 90

M. H., cutting peoples taxes actually increases revenue brought into the treasury. It happened recently. But there is nothing stopping you from contributing more yourself voluntarily should your taxes be cut and you feel it is not good for the country.

Toby Wahl · Joined: 15 Jul 2008 07:50 pm Posts: 297

I can't help but take notice that the line, "Cutting taxes raises revenue" doesn't seem to be illustrated by the reality of Bush's tax cuts. Bush Sr. and Bill Clinton raised taxes and after 12 years we had a surplus. Bush cut taxes, we lost the surplus and now have a deficit. You are right that those who make a lot of money pay a lot of taxes, but I have never heard of someone that made a lot of money and the taxes they pay putting them in the poor house. The problem is that giving tax cuts to the rich, trickle down economics, is a faith-based program. You have to have faith that the rich are going to turn around and reinvest the tax cuts in their community or even in this country. That faith is never confirmed. The owners of Goodyear/Kelly Springfield got a big tax cut from Bush. Did it trickle down?

Now if you give a tax cut to plumbers, teachers, construction workers, electricians, city workers, small business owners, etc. faith is not required. They WILL reinvest it in their community and the money will stay in our country. Because we shop here, eat here, send our kids to gymnastics here, play golf here, vacation here, build our small businesses here, and hire here. The tax cut goes full circle with no break in the circle. Then we are opened up to do things like abolish taxes for soldiers and seniors.

Give a millionaire a tax cut and he goes on vacation to Japan and eats sushi. Give me a tax cut and I go to Galveston, come home and take my kids to Rudy's for some brisket and slaw. The money starts down and trickles up, no faith required. The free market prevails. Business booms because the most important part of the free market, the consumer, is consuming, and boy can my kids and me consume that brisket!

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