Thursday, October 1, 2009

What's the Economic Differences Between the Republicans & Democrats?

The Republicans believe that if investors and big business are given tax breaks and other financial incentives the money will eventually trickle down to the rest of America. The Democrats believe that the working class should be given any tax break that is available, increased wages, and enhanced working opportunities; that money will be spent in the market place within a short time which will stimulate the economy all the way to the top. Personally, as one who has always lived and supported my family from wages, I have to agree with the Democratic position. Those who earn their living from investing their money tend to agree with the Republicans even though the recessions of the past decade prove "trickle down"simply does not work. The capital gains tax was instituted back in the beginning of this century after the nations newspapers reported that the richest men in America did not pay income tax because they had NO INCOME. The Republican Congress attempted to eliminate the capital gains tax BACK IN 1996. But they were stopped by President Clinton and the Democrats in Congress. I have never been asked to pay capital gains tax. So, maybe I am not qualified to make a judgment on the issue but, my instincts tell me that every American, even the richest, should pay a fair share of the cost of keeping America alive and well.

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