Oh, and the right-wing commentariat is still insisting that government spending is wasteful and ineffective — that is, that government never creates anything of value.
Fact: private enterprise skims the easy profits. Big investments in infrastructure, as well as in R&D, usually require government participation because profit is too far in the future for private businesses and investors to want to do what's needed.
Wednesday, February 25, 2009
Tax Cuts
So Gov. Bobby Jindal — who thinks it's OK for public schools to teach religious doctrine in place of science — says that the economic stimulus bill relied too much on spending instead of on tax cuts.
The fact: the stimulus bill made the largest tax cut in the history of the United States — just as Candidate Obama promised.
But it only reduces taxes for 95% of working people. It doesn't reduce taxes for the wealthiest 5%. If you earn more than $250,000 per year, the Republican party wants to be your friend.
The fact: the stimulus bill made the largest tax cut in the history of the United States — just as Candidate Obama promised.
But it only reduces taxes for 95% of working people. It doesn't reduce taxes for the wealthiest 5%. If you earn more than $250,000 per year, the Republican party wants to be your friend.
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