And, so we have a struggle over the economy, with not only the economy resting in the balance, but November's elections.
On one side, we have President Barack Obama, stumping for his plan of pouring more than $50 billion into the infrastructure and such to stimulate the economy. The President would let those tax cuts expire that our last president, George Bush, gave to the wealthy. But Obama would leave those tax cuts -- make them permanent -- for the middle class.
Obama would also give businesses 100-percent tax write offs on any plants built and any new equipment installed through 2011, as opposed to having them amortize.
And, Obama would increase tax cuts for research and development. No, not that alone, he would permanentize those tax cuts.
Obama's biggest opponent (so far) in the economic wrangling is Rep. John A. Boehner of Ohio, the House Republican leader. Obama named Boehner seven times in a speech yesterday in Cleveland.
But, Utah's Sen. Orrin Hatch is also part of the debate, of course siding with the Republicans.
"I don't think anyone believes an Administration that created these problems is going to be able to come up with effective solutions to get us out of them," Hatch
said.
And, voices all around quickly remind him the economy was in trouble before Obama made his way into the White House.
"There is a better way," Hatch said. "We should focus on getting the government out of the way, lowering government spending and stopping massive tax hikes that threaten an economic recovery."
And, on that, Hatch is on the mark.
No comments:
Post a Comment