Saturday, July 24, 2010
Bernake: Tax Cuts Good for Economy
After years of screeching and gnashing their teeth at the premise, Democrats are now staring into the abyss of the economic dark side. If you permit people and business to keep more of their money, they will spend it. They will spend it in such a manner that those funds will have greater impact, with greater overall returns, then if the government spent those same funds.
“In the short term I would believe that we ought to maintain a reasonable degree of fiscal support, stimulus for the economy. There are many ways to do that. This is one way.”
While I read those comments while sipping my morning coffee, a ray of sunlight came in through the window. I believe Ronald Reagan was looking down and smiling.