Posted by
Tomdarter on Sunday, January 11, 2009 3:47:21 PM
I sent this as a fax to several members of congress. May I urge everyone to send something similar.
Please take a principled stand against these massive spending bills.
In order for the government to spend money, they must either take it in by way of increased taxes or print new money.
If they raise taxes, they are merely transferring money from the private to the public sector, then sending it back to the private after skimming off 20 – 50% in “administrative costs”, thus providing no net gain to the economy and probably inflicting damage. In addition, it adds to the deficit which is harmful in itself.
If they print new money, they fuel inflation, which is even worse for the economy than higher taxes.
Since the Income Tax was instituted in the early 20th Century, we have been through one depression and several fecessions. Hoover and Roosevelt tried to forestall the Great Depression with massive public works and spending programs, resulting in more than 10 years of economic stagnation. Other recessions were battled with tax cuts and other private sector stimuli, such as less regulation and encouragement of world wide trade, and those downturns were much milder and shorter.
So let’s cut taxes, which will allow productive citizens to keep their earnings and stimulate the economy, which will increase tax revenues overall and help cut the deficit.
The only ones who gain through massive government spending are those who believe in bigger government and less individual liberty.