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Apr 17, 2004 With the economy still in a downward spiral, the current administration is still pushing its tax cut package as the end-all solution, despite the facr that it has produced negative results thus far and prospects for it working in the future are even less sure. Republicans are still clinging to rhe Reagan-era championing of lower taxes to spur econmic growth. While across the board tax cuts can have some stimulating effect on the economy, declaring such cuts a quid pro quo economic bailout oversimplifies the issue and may be contrary to reality. When you look at the situation from a purely ethical and moral standpoint, such "across the board" or even "targeted" cuts tend to be heavily weighted in favor of the wealthy and upper class, while leaving the working class and poor with little more than a few crumbs. Reaganomics declared this the "trickle down" theory where more capital, incentives and breaks are given to wealthy individuals and corporations in the belief that they would use their increased capital to wisely reinvest, thus generating more growth in the economy. However, driven by greed and frequently lacking moral responsibility, in all too many instances this newfound wealth has been spent lavishly and ridiculously by the wealthy, or, worse still, horded away. One only need look at Enron and other companies to see how this excessive greed did nothing but further enrich certain the rich. It is now a not so well kept secret that the government hands over more in terms of corporate welfare each year than it does in welfare to the poor. This, despite pious proclamations of a resurgence in religious and family values. How religious or family oriented is it to ignore the pain, suffering and hardship of families that need the help the most and instead create more comfort for those that already have more than they need? Instead of "trickling down", perhaps it is time to think of "watering the roots" and really putting more money into the hands of the poor and working class. Give them real, significant tax breaks and what might happen? Number one, they would immediately either pay off some of their debt or increase their consumer spending, both which would have a positive effect on the economy. Increased spending would create increased demand, which would create increased jobs, which would create increased corporate profits. All the while, it would improve the moral of the poor and working class, which is the force which truly drives the economy. The wealthy could fend for themselves and put off buying that new Mercedes and second summer home for a couple of years while they sat back and watched the economy spring back to life. In the long run, everyone would profit. So why won't this solution soon be heard as a topic of discussion in the legislature? The answer is, because the average working person isn't seen as a powerful and significant force. There are no "average Joe" lobbies. The rich and powerful want their "sure thing" of large tax cuts and aren't willing to risk the short term "sacrifice" for the long term gain. This is why CEO's have been getting huge packages for years while at the same time their companies have been floundering, pay has been frozen for lower level employees and layoffs and cutbacks have been severe. What the wealthy and powerful might want to remember, however, is that a tree that gets only sunshine to the upper branches and leaves will wither and die if its roots are cut off from the basic nutrients that are needed for survival. ------------ About the author: Kevin Gunderman is the author of "The Other--the autobiography of the life and legend of Lucifer" (PublishAmerica, 2001). He also has two new fictional novels pending publication. In addition, Kevin is a freelance journalist who has worked for the Chicago Tribune and other metropolitan newspapers. For more information, visit www.digifamily.org or email: kglinux@digifamily.org Tell a friend about this site! ------------ |
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