The Bush administration has been touting its "tax cut" as an economic boon for the economy. They fail to point out, however, the the spending deficit, which worsens with this tax cut, is creating a high rate of inflation. As I mentioned in another question, the US dollar has lost 34% of its value in just 5 years.
The fact that the average American must pay more for its products and services is an added tax to the middle class. If the government continues to spend more money without raising taxes, this inflation rate will snowball.
Bush's economic policy is a disaster. You cannot decrease taxes without decreasing government spending. Somehow the excess government spending will cost the taxpayer. Inflation is the cost we are facing today.
2007-02-27
04:16:21
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8 answers
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asked by
Overt Operative
6
in
Politics