Point ignored in President’s speech
In case you missed it, this was the famous, or infamous depending on how you view it, “You Didn’t Build That” speech.
What I found surprising, however, was how the Republicans, the media…mainstream, right, or left, take your pick…missed one sentence uttered by our President buried in the speech.
No, no, look — I mean, we’re having a good, healthy, democratic debate. That’s how this works. And on their side, they’ve got a basic theory about how you grow the economy.
And the theory is very simple: They think that the economy grows from the top down. So their basic theory is, if wealthy investors are doing well then everybody does well.
So if we spend trillions of dollars on more tax cuts mostly for the wealthy, that that’s somehow going to create jobs, even if we have to pay for it by gutting education and gutting job-training programs and gutting transportation projects, and maybe even seeing middle-class folks have a higher tax burden.
Here’s what is wrong with our country.
Grammar aside, the belief that a tax cut is a form of “spending” boggles the mind.
Truly boggles the mind.
Exactly how does government “spend” a cut in taxes? If I get a tax cut, I consider that less income for the government, and more income for me to spend.
I believe the reason Romney and the Republicans didn’t catch this, or the media, is because all of them (the politicians) view tax revenue as “their’s” and reducing that flow of revenues is to them a form of spending.
So, while we all fight on Facebook and message boards about which candidate or which party will fix the economy, perhaps we should look at all of them.
My guess is, at the federal level, elected officials on both sides of the aisle view tax cuts as the equivalent of spending.
And since Romney’s campaign, the media, and everyone else overlooked this quote from President Obama and instead focused on the grammatically debatable use of the word “that”…as in “you didn’t build that”…is another clear sign that Washington’s idea of “spending” is quite different from yours and mine.
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