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January 16, 2008

Republican Solution To Economy

-- by Dave Johnson

Republicans are proposing a "stimulus proposal" for the economy: an additional 25% cut in corporate taxes. Guess who will make up the difference, one way or another?

Think Progress captured this:

At a press conference today unveiling the stimulus proposal, Rep. Michele Bachmann (R-MN) justified the conservative plan to give tax breaks to corporations — instead of working Americans — by arguing that people actually like working long hours:
I am so proud to be from the state of Minnesota. We’re the workingest state in the country, and the reason why we are, we have more people that are working longer hours, we have people that are working two jobs.
Got that? Republican economics are GOOD because people WANT TO work long hours, and two jobs.

As for paying for corporate tax cuts? You either have to pay higher taxes to make up the difference, or the money has to be borrowed. In 2007 we paid $433 billion interest on previous Republican borrowing. But there are other, serious costs as well. The plunge of the dollar is a consequence of the borrowing. The rising cost of oil is, too. And soon we will all be experiencing more costs of the borrowing as the economy collapses.

The question is, what are you going to do about it?

Posted by Dave Johnson at January 16, 2008 2:15 PM

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