Congress recently approved a $350 billion tax cut. I’ve always believed that there’s no better way to stimulate the economy than to put money into the hands of the consumers (us). After all, in all likelihood, if we have money, we’ll spend it. However, this disturbs me a bit:
Democrats opposed the bill saying it benefits mostly the wealthy and adds to the nation’s ballooning debt. Straight after approving the cuts, the Senate moved on to a vote on a bill raising the U.S. debt limit by a record $984 billion.
“This tax bill is one of the most dangerous and destructive and dishonorable acts of government that I have ever seen,” said Minnesota Democratic Sen. Mark Dayton (news, bio, voting record). “It is a shameful looting of the federal Treasury by the rich and powerful in America, compliments of their friends in Congress.”
My question is, how come no one seems to be able to provide a straight statistical number? Democrats will claim so and so percent will end up in the hands of the rich, while Republicans will claim otherwise, but how difficult is it to just give the public a straight out answer, I mean these are factual numbers, not political ideals.Powered by Sidelines