• 61°

Columnist again fails to see big picture on taxes

In Mr. Jim Crawford’s column, he made many statements that are quite untrue, and the first one is that 95 percent of the Americans’ taxes have been cut.

Do you mean the $13 a week that is not being taken out of the paychecks of those who work? Boy, are you living in a dream world as you just wait until 2010 when you have to pay your income taxes and find that you will pay for the $13 a week then.

Don’t take my word for this, but look at the tax structures for 2009 and you will find that they haven’t been changed.

To give people hope that they will pay no tax below even $45,000 is words, just words, but when you get your bill next April 15, don’t cry, just put your faith in words, not deeds.

He also says virtually all economists argue that you cannot reduce spending during this type of economic cycle.

He forgot to say that the ones who say this are all Democrats and not the economists who really know economics. They say quite the opposite.

That’s like telling the person who is in debt up to his neck that to spend more is the way to get out of debt.

Just who do you think will keep on buying our bad debt when we are printing money that we cannot back up? What will happen when China or Japan will no longer honor the money we are spending?

America will be bankrupt. This is what will happen if we keep spending like there’s no tomorrow.

Mr. Obama has given people so much “hope,” but at what cost? Everyone who knows anything about economics will tell you he will run a deficit for well beyond his four or eight years. Just who will pay for these programs that he wants to start?

If you raise taxes to where he wants them to be on the wealthy, he says from 28 to 39 percent, this will not be one third of the amount that he will need. So just who do you think will pick up the rest?

Words are cheap and I can type them all day long, but this will really set in when you get your 2009 tax booklet. Don’t cry then as you get what “change you voted for.”

As Mr. Crawford’s stated about the trillion dollars that Mr. Bush spent, that was over eight years. Mr. Obama is giving us a three to four trillion dollar debt in less than three months.

Quite a contrast don’t you think? As I have already said, if you think about 95 percent of the people will receive a tax cut, you are dreaming.

Homer Campbell, Ironton