Which group will grow our economy?
Published in the Fort Collins Coloradoan on September 23, 2011
Let's see. One group says, to create jobs, the United States needs to reduce regulations on employers and maintain tax cuts for the wealthy. Fewer regulations will enable and encourage employers to more easily hire new employees. The money the wealthy do not have to pay in taxes will trickle down to create opportunities in the U.S. that will employ more people.
Another group says that to stimulate the economy, we need to reduce taxes for the lower- and middle-class people and increase taxes on the wealthy. We also need to spend on infrastructure projects, which will quickly put people to work as well as improve the nation. Both would put money in the pockets of people who need to and thus would spend it on goods and services.
Both groups admit that we also need to do something about the large national debt.
Imagine you are an employer. Would you begin to hire people or create a new workplace only because you were freed from regulations? Or would you do these if there was more demand for your product or services from people having money to spend on them?
Imagine you are wealthy. Would you create jobs in the United States with money saved from not having to pay as much in taxes or would you invest it overseas where you could get a greater return on your investment?
Realistically, which group's plan will grow the U.S. economy, put people to work and thus help to curtail the U.S. deficit?
William (Bill) Moorcroft,