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Open letter to legislators

Open letter to legislators

By: Dr. M.K. Jain

Dear Editor:
An open letter to Washington politicians
Tax cuts, being proposed to combat recession, are merely band-aids and not an everlasting solution. It is political and not remedial.
Recession R equals product of constant K, unemployment U, job going out J, greedy US companies manufacturing in low wage countries G, threat of being laid off T.
Tax cuts for corporations will not make them bring back its’ operations. The USA had become what it has been because it manufactured what it consumed and high wages gave them buying power.
They had been willing to pay higher prices because of their higher wages but no more. Now we want high wages and cheap goods — a paradox.
Rich people have plenty and any tax cut would not result in buying more. The middle-class will be tempted to save for rainy days and for the time of unemployment. Low-income people who pay no taxes may get no tax cut. So how will sales boost?
The tax cut of $150 billion will only raise our already high national debt (thanks to Reaganomics which once senior Bush called voodoo economics). There is no end to the Iraq/Afganistan wars which have been draining more than hundred billion dollars. From where does $150 billion dollars come from?
Borrowing will put a strain on lending institutions and can have an impact on a stock market which is already volatile. Lending money by other countries can have an impact on our national security as these nations begin dictating.
Neither Republican nor Democrat politicians have the will and guts to rein in the corporations to force them to bring back here their operations and to ban outsourcing.
That is the only way to combat present and any future recession, citizens can live with peace of mind because of no fear of losing job thereby spending money, and eventually wipe out national debt.
Our politicians give loud speeches making campaign promises to get elected but after that forget the promises they made.
In fact we are making other countries rich at our peril.
Thank you
Sincerely,
Dr. M.K.Jain
Martin
WCP 2.12.08

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