AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.
Did anyone else notice the sheer arrogance, bad math, and selfish aims of that letter? They spouted that "job creators" bull, despite the constant layoffs coming from large corporations. They claimed to create "billions in revenue" with "thousands of employees"... billions of revenue divided by thousands of employees suggests that everyone is making millions of dollars, which we all know isn't true. Those thousands of employees are working longer and longer hours for less and less pay, and most don't even approach a million dollar salary, while those CEOs rake in eight figure incomes.
This letter says that corporate tax rights need to be lowered (netting these men more income), some loopholes closed (they're awfully non-specific about which ones), and social programs need cutting. They support "things that drive our economy, like education, our transportation and information infrastructures, and basic research," but don't want any money put into those things.
A lot of lofty language doesn't disguise the fact that these rich men are advocating the means to become wealthier. The message is clear... "cut social spending and cut our taxes". Don't fall for it.
Liberté. Égalité. Fraternité.
Can't we just turn Congress off and then turn it back on again?
I mean, the Federal government takes in trillions of revenue each year - should we similarly expect ten thousand dollar checks each year for every citizen, allthewhile expecting government to not only do everything it needs to do but produce a surplus at the same time?
I have an even better idea, Reid. Since everyone says they agree there need to be spending cuts, Congress can include those with the debt ceiling raise. Then the only thing we'd have to deal with in "a separate piece of legislation we'd take a look at" is whether or not to raise taxes. Sound good?Reid said he hoped a proposal would move as“a separate piece of legislation we’d take a look at” because such a measure has “nothing to do with attaching it the debt ceiling.”
Harry Reid calls for clean debt ceiling vote - Meredith Shiner - POLITICO.com