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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: JBTFD who wrote (61114)	10/17/2004 11:34:23 AM
From: Gary Walker	Respond to of 89467

Taxes were reduced for people who PAY the taxes.... The question is can you get enough money back into the economy by only reducing taxes for the middle class. If you look at where the classes spend the money then you get a picture of why taxes need to be reduced across the board. Direct investment in our economy come from the wealthy and upper middle class and to a lessor degree from the middle classes. These investments multiply into jobs for all classes. Reduce this investment like we saw in the 70's and you see higher inflation, interest rates, and lower employment. THIS is exactly what we saw with Reagan tax cuts. YEARS of prosperity followed. Oil prices clearly affected all of these periods including now. Oil prices act like a tax increase or a cut. It's true that the middle class would take the extra money and buy retail which helps that industry. The FORD rebates in 1975 helped get us out of the recession. But the real LONG TERM impact comes from the investment.