Just got this. Even though there are some things to like about Obama’s 310 billion dollar tax cut proposal, I like the following idea from William Collier better:
Remember 1980?
The Dow Jones Industrial Average at 759. Less than 10% of its current value.
The unemployment rate around 7%. Almost 40% higher than today.
Inflation rate? 13%. Around triple of today’s.
A misery index of 20%. More than double today’s.
In the White House: Jimmy Carter. Hectoring America for its “malaise.”
Then what happened? We elected Ronald Reagan president.
Reagan cut the income tax rate 30% across the board. And stood behind Paul Volcker’s strengthening the dollar.
What happened next? Prosperity happened.
America took off and never looked back. Now, looking back, we remember the recipe for Prosperity. We appreciate the need to assist ordinary citizens in their time of hardship. The best way to do that is by using the bailout money to bring back Prosperity.
The $700 billion appropriated for bailouts more than covers the costs of A renewed 30% across-the-board tax rate cut. AND a payroll tax cut.
We know this works. We did it before. It worked. It will work.
Reagan 2.0: a 30% across-the board tax cut. And a payroll tax cut.
Sign this petition for Congress. Make your voice heard now. No bailouts! Tax rate cuts! Bring Prosperity Back.
The Petition To the Congress of the United States of America:
Cutting marginal tax rates across the board lofted America from austerity to prosperity.
Reagan understood this, we understand this, and we appeal to you to take a stand for it.
By joining Reagan2Petition.ning.com, we sign this petition demanding your support
* for using the “bailout” funds to cut marginal tax rates by 30% AND
* to cut the payroll tax back to its original “pay as you go” rates.Put America back on the road to Prosperity.
Sign the Petition today…..
