02-04-2009, 09:23 PM
Join Date: Aug 2007
Limbaugh doesn't believe in bipartisanship at all. He's clearly being tongue in cheek. Bipartisanship is somewhat overrated, we need parties of ideas that debate and disagree. The obsession with compromising and caving has left people in both parties bored and dissatisfied. Remember there was no minority opposition to the blank check for Iraq. Same can be said for the "liberal media" that uncritically hyped the war.
Anyway, Bush had some tax cuts many of which were not that great or substantial. The big problem was his administration didn't even remotely cut spending, which was very very stupid. Bush is a pretty moderate Republican on economic matters, and Cheney would often say "deficits don't matter" so there was never an appropriate amount of fiscal sense or responsibility in the Bush years. That said the financial mess cannot solely be blamed on Bush or the Republicans. It's much much more complicated than that.
Limbaugh offers the pat supply-side solutions. He is not an economic genius but he has a point on testing out a capital gains tax suspension.
The big elephant in the room of course is entitlement spending. No one has talked about major entitlement reforms and cuts because it's not particularly fun for either party fishing and pandering for votes.[/quote]
Lord, no, that cannot be touched with a 10 foot pole. What happened to temporary solutions until people get on their feet?
His suggestion WOULD be an interesting experiment, but not right now, unfortunately. What exactly is the downside of cutting the capital gains tax and corporate taxes? Seriously? I've read everything and anything I can find from both sides, and there is not a downside to tax cutting. It's been shown time and time again that more taxes when an economy is in trouble is stupid...cutting taxes has an upward trend that starts almost immediately.
Maybe if all Obama's Cabinet nominations paid their taxes, we wouldn't need the stimulus ;D If those were Republicans not paying taxes, they'd be run out of town on a rail.
I also don't like the idea of giving 'refunds' to people that don't pay taxes. We have our own business so we pay 100%...there is no 'matching by employer'. Fine, we've done it for years. But we are seeing the very real threat of increased taxes that will hamper our ability to grow AND we are already seeing people delay or cancel work because they are so leery of the uncertainty of what Obama is going to demand next.
Years ago I worked for a company that took the entire Grace Commission Report that Reagan requested. One of our editors read every blasted volume of that thing (talk about dry) and condensed it down (even drier). Then our editing team polished it and made it readable and it was astonishing the waste that was occurring...this was over 20 years ago so I can only imagine how much worse it is now.
That experience is what made me decide once and for all that I could not be a member of a political party that was acting in such an irresponsible manner...another reason I am an Independent.
My son wears combat boots (and a parachute).
The older I get, the less patience I have with cleverness. Thomas Sowell.
Resolve to perform what you ought. Perform without fail what you resolve. Benjamin Franklin.
Don't go around saying the world owes you a living. The world owes you nothing. It was here first. Mark Twain.