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Where there's a will, there's a way

Posted: September 16, 2010 4:55 a.m.
Updated: September 16, 2010 4:55 a.m.
 

Ann McFeatters, like all liberal columnists, wishes to find ways to blame Republicans for our national deficits because those nefarious fellows do not wish to increase taxes, even those on the wealthiest earners ("U.S. falls in global rating," Sept. 12).

She, like many of her cohorts, whether intentionally or unintentionally, makes her arguments under the mistaken assumption that our dynamic economy is a zero-sum game under which the only way for the federal government to generate more revenue is to extract it from the economy through higher taxes.

The fact that such higher taxes have been shown time and again to depress the economy and actually result in lower revenue seems to be beyond their capacity to understand. Nor can they understand that reductions in tax rates have always led to higher government revenue.

The real solution to our deficit problems is three-fold. First is to extend all of the Bush tax cuts for at least five years, and preferably permanently.

This would provide a shot in the arm to economic activity by taking away the fear and uncertainty currently felt by businesses and entrepreneurs.

The second part of the solution is to create a business-friendly environment that will attract companies to the U.S. instead of driving them away. Part of the way to do this is to provide a corporate tax rate that is less than (not more than as at present) those of other nations.

Another part is to have leaders who will not demonize corporations for no purpose other than their short-term political gain.

The third part of the solution is to reduce the unconscionable amount of job killing and unproductive government spending. The Republicans have suggested rewinding back to 2008 levels - better would be back to 2006. This would include reversing the health-care bill. There are those, of course, who will consider this to be naive, stupid or impossible.

All that is really required, however, is the simple will to do it, which could happen if enough of us put pressure on our representatives.

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