Cutting taxes a proven way to boost economy

info@islandpacket.comNovember 3, 2012 

A recent letter writer referred to Mitt Romney's plan to reduce tax rates for all Americans "voodoo economics." He omitted several facts.

  • Democratic President John Kennedy advocated "voodoo economics" by pushing to reduce taxes, a plan put in place in 1964.

  • Under President Reagan, taxes were cut in 1981. Inflation went from 13.5 percent under President Jimmy Carter in 1980 to to 4.1 percent in 1988. Unemployment dropped 10.8 percent to 3.9 percent and generated 21 million jobs, the most ever by any administration.

  • The balanced budget President Bill Clinton achieved was by following the recommendations of a Republican Congress, led by the Speaker Newt Gingrich.

  • After nearly four years of President Barack Obama's failed policies, the unemployment rate has averaged over 8 percent, the deficit is at $16 trillion and 23 million people are unemployed or under-employed. His plan is to raise taxes.

  • Cutting taxes has worked for both Democratic and Republican administrations. You can call it voodoo economics, abracadabra or anything else, but if it will generate jobs and improve our economy, let's go with Romney's plan.

    Additionally, how can anyone vote for Obama when he and his administration have been lying for weeks about the attack on our consulate in Libya. The tragedy is that it was apparent to the ambassador that they could be attacked, and the Obama administration denied requests for additional security, and to make matters worse, reduced their security.

    Do we really want another four more years of incompetence?

    Lee Sgroi


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