July 30, 2011
OPINION, Readers' Letters
With 65 percent of the American people believing that the rich should pay more taxes to help with the budget deficits and help balance our budget, why do Republicans keep pushing supply-side economics? It should be enough that the "tax-cuts grow the economy" has been repeatedly debunked by fact. President George H.W. Bush referred to President Reagan's supply-side theories as "voodoo economics," and both Presidents Bush and Reagan abandoned their tax-cut promises when faced with the resulting budget problems.
Since becoming president, President Obama has cut taxes including the largest single-year tax cut in history (source: Citizens for Tax Justice). When the Republicans iterate the mistakes Obama has made they should mention that the massive tax cuts were a failure! The definition of insanity is doing the same thing over and over expecting a different result. In the last 69 years the country has had two budget surpluses, one in 1969 the other during the Clinton administration. Both followed increases in the marginal tax rate. Clinton raised taxes on the wealthy and large corporations. The Republicans insists on cutting spending only, to balance the budget. They ignore well-understood business practice of increasing productivity and growing are the way to pay off debt.
Please call, email or write your elected official in Washington and let them know you support a rational solution to balancing the budget which includes increasing revenue as well as improving efficiency. You might also remind them how important Social Security, Medicare and Medicaid is to the families of your community.
Editor's note: According to Congressional Budget Office data there were federal budget surpluses in 1969 and 1998-2001.
Terry Bacon Nixa