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Tuesday, August 3, 2010

Why Can't Republicans Speak Sensibly?

I listened with great disgust to Chris Wallace on his Sunday show. I was not disgusted with Wallace but I was disgusted with senator Mitch McConnell and house minority leader John Boehner as they fielded questions from Chris concerning the extension of the Bush tax cuts.

Wallace continued to promote the premise that extension of the tax cuts for everyone would blow a 3 trillion dollar hole in the deficit over 10 years.

Boehner danced around the issue saying, "Chris, you've been in Washington too long because that's all a bunch of Washington talk." and "you cannot raise taxes on the American people in the middle of a recession." and he went on to say a lot of other things but I don't think he ever addressed the question.

McConnell's answer was incomplete, "Chris, the only way to really reduce the deficit is to get the private sector going again." and then he went on to talk about the healthcare law.

I'm sitting there wringing my hands. If Wallace had asked me, here is what I would have said:

1. I disagree with your premise that extending the Bush tax cuts would blow a 3 trillion dollar hole in the deficit.

2. Not extending the tax cuts will in effect result in a tax increase. History has shown time and again that anytime you raise taxes, you stifle business and growth. The net effect is that in spite of the tax increase, net revenues to the treasury will fall.

3. In addition to the extending the Bush tax cuts, more tax cuts should be instituted, including a complete repeal of the capital gains tax, overall tax rate reductions, and a tax holiday for payroll taxes. All these would spur immediate growth in the private sector, jobs, and increase in productivity, the net result which would be an INCREASE in revenue to the United States Treasury!

4. Chris, history shows it has worked every time it has been tried!

Now Boehner and McConnell are supposed to be smart men. They are supposed to be smarter than I. Why is it that I seem to have a better grasp of economics than these guys do? At least I seem better able to articulate the solution!

Go HERE to read the transcript and watch the video. I dunno if Wallace really believes this nonsense about the 3 trillion dollar deficit hole. I'd like to think he was giving McConnell and Boehner a chance to make a point. In my opinion, they blew it, and we wonder why it seems like we take one step forward and two steps back! GEEZ!

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