Letters to the Web Editor

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

Smith,
Lay what facts? Bush's tax cuts and the stimulus checks are two different programs. Congress voted for Bush's tax cuts in 2003. Those cuts in the 2003 tax bill were deep cuts to the tax rates on dividends and capital gains.

Dividends are payments made by a corporation to its shareholder members. I don't know any plumbers, teachers, city workers, construction workers, or any working class job holders for that matter that pay dividends. You can probably count the number of people in Tyler that paid dividends on one hand. They got the tax cut.

A capital gain is a profit that results from the sale or exchange of a capital asset, such as stocks, bonds, or real estate which exceeds the purchase price. I don't know any plumbers, teachers, city workers, construction workers, or any working class job holders for that matter that are concerned with capital gains. We'd love it if we could sell our homes for more than we paid for them, but the market prevents that.

The Economic Stimulus package was voted for in February 2008 and the checks are still being distributed. That program won overwhelming support from both parties.

I don't disagree with things based on the fact that Bush did it. It wouldn't matter to me who did it, if the policy doesn't work, it doesn't work. Reagan tried it when he was president and "Trickle Down" economics didn't work then. A corporation, if it is smart, has one goal in mind; PROFIT. They want to make money. If they get tax cuts it goes against their goal to reinvest that tax cut into our economy because they can make more PROFIT investing it elsewhere. Why pay you $10 an hour to make my sneakers when I can pay someone in Mexico $10 a day to? We folks that have jobs here in Tyler don't have that option. Our goal isn't PROFIT. We have multiple goals that include caring for our children and maintaining our homes. Those things require us to spend money here. That is why even Bush recognized that his tax cuts weren't working. If they were, why would economic stimulus checks be necessary? It's simple, he realizes that the only people that can stimulate an economy are consumers. That's us!

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