I recommend this reading (http://online.wsj.com/article/SB10001424052970203440104574402822202944230.html) for a tutorial on the key driving forces that created and sustained the great depression. Art Laffer is no god of economics, but his facts are right and the correlation he writes about appears real to me.
The key lesson is that imposing higher taxes on a weak economy makes that economy weaker. "You cannot tax your way to prosperity" has to be a concept all of us can grasp. And, it is a concept we should all support.
I think it is entertaining that Democrats plan to begin collecting taxes for their healthcare plans next year, but they don't plan on providing the new benefits until 20012 (or is it 2013?). So, they will simply harvest money from the private sector for a while during a time when they want consumer spending to rise. Not good thinking.
I get the good-hearted desire to provide health insurance to all. But, when we get ready to pull everybody into the boat, let's not sink it.
Hags
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