To answer that question, yes it can. But what will it take? First off, we don't need to raise taxes. When people are worried how to buy gas, food,
health care and such, they don't need the government coming in and sticking their hands deeper into our pockets. Leave the taxes alone unless you want to cut them more. When people can keep more of their money, they will spend more of their money helping the economy.
We also need to cut the capital gains tax. Let's give people a reason to invest money into our businesses and economy.
Don't increase the taxes on the rich. This is just plain dumb. "But they deserve to pay more taxes!". This is the cry of the liberal. The only problem is that the rich own
alot of the businesses that
supply the goods that the middle and lower classes need. When the government raises taxes on the "big, evil" corporations, they just pass the cost on to us with higher prices. So who is really getting hurt here?
Reagan showed us in the 80s that if you cut taxes, people invest in business. This creates more jobs. This means more people are working and paying taxes and not collecting handouts from the government. Economics 101.
So no new taxes, cut spending, cut capital gains. This is a start. But there is a long way to go. But you don't tax yourself out of the problem.
And the bottom line is that its not Wall Street that makes this country great, its Main Street. The everyday joe that gets up and goes to work for 8, 9, 10 hours a day and comes back to his family. Thats what will fix our economy.
Labels: economy