Year End Tax Strategies
May 5th, 2004
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Year End Tax Strategies
Question: Do most Presidents end recession by investing stimulus dollars directly in sectors most likely to grow revenue?
Isn’t a Tax Cut the fastest way to inject extra cash immediately into the parts of the economy most likely to pay more revenue to the governemnt in future years?
Why has OBAMA foregone this method, used by Reagan & Kennedy, and opted instead for Jimmy Carter’s failed strategy of punishing the more successful parts of the economy?
Answer: You’ve got the whole game wrong. Where we put the money depends on where is the problem and how serious it is.
This wasn’t an economic slowdown. It was a meltdown of the whole financial system, and it was spreading across the whole world. The word “globalism” is not just a fanciful term about some nebulous concept. That is where we live today. Whole economies, production and product markets are linked virtually all over the world now more than they ever were, and most of the industrial world is now dependent on bank and other broker financing. If that collapses, so does their industries. That all was happening.
I’m sorry to worry you but we aren’t out of it. That money wad was just a life preserver. No matter how much is thrown in, it’s still just soggy emergency flotation devices. The industries, banks, and workers are still “in the soup.”
The problem is once again we have far more people in this world, and a lot more coming, than we can support with our current technological-resource-population balance. I’m ever more afraid the real solution is the same as last time in the 1930′s. We will need to slaughter back the population until we have more technological advances enabling cheaper and more production of food, housing and other needs.
This time I hope the overpopulating cultures don’t merely expand their population to eat up the benefit, like they did when rice yields were tripled in the early 1970′s.
Year End Tax Strategies
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