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Out of touch.

It is astounding that Congress can be so out of touch with the reality of true economics and that the public will buy into the fantasy charade they are perpetrating. (See "The Stimulus Sham," March 3.)

Giving people money back from the taxes they have already paid, with the expectation that they will run right out and spend it, doesn't do anything to help the economy in the long run. It just creates a slight blip of increased expenditure--and it is over. The next day we are back to being in debt up to our eyeballs.

What our country needs is for people to be saving more money--not spending! That is what truly benefits an economy. Savings creates capital for business expansion, thus creating more jobs and more taxpaying citizens. It gives people a sense of security and the motivation to work harder to be able to save more. It is good all the way around. Our current national personal savings rate is a "negative" two percent! Spending only gets us further in debt and deeper in trouble.

It is ironic indeed that the very liberal politicians, who don't agree with tax cuts, can't wait to give us a tax cut (in the form of a rebate)! They are falling all over themselves trying to get it approved ASAE If they think tax cuts are a bad thing and don't work, how can they think a tax rebate will spur the economy now? Talk about twisted logic.

The only explanation can be that this is an election year, and every politician wants to have his name on the bill that hands out "free money" just before the voting starts. It is sad that people actually buy into (pardon the pun) this farce. The same people who believe this are the ones who rush to purchase a new car when the seller makes a "cash-back" offer, or jump into Adjusted Rate Mortgages. Take the money now; worry about how you are going to pay it back later. Mindless!

The dollars we get this year, compliments of our government, will add to the debt our children will have to pay--plus huge interest. Enjoy the new "iPod" you buy with your rebate check! Maybe it will help drown out the sound of the lies from our politicians and the cries of suffering from future generations.


Cedar Hills, Utah
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Author:Green, James Carlyle
Publication:The New American
Article Type:Letter to the editor
Date:Mar 31, 2008
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