Friday, September 03, 2004

Tax cuts [not] just for the rich

 I am sick of those who would say that "tax cuts for the rich" are in fact that, and are not good for all Americans.  I am not rich, but I am glad there are rich people out there.  I want rich people to be able to keep as much of their hard earned money as they possibly can.  I want rich people to buy things, tip waiters, and donate generously.
 
There are two three basic options with one's money:  spend it, invest it, or save it.  Spending your money directly puts money into the system--good for the economy.  Invested money grows over time (statistically), and creation of wealth is good for the economy.  Saving your money indirectly puts money into the system because your savings account is where banks get the money to lend to people.  The more money people save the more money there is for banks to loan to people buying homes, cars, education, you-name-it.  In general, the people can ALWAYS spend/invest/save their money better than the government can.  Tax cuts to anyone are good.  Everybody feels them.  Hurray for the Bush tax cuts.

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