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home : opinions : opinions August 01, 2014


2/28/2012 9:58:00 PM
Letter: Numbers show what's fair and what's not

EDITOR:

I do not know where people like W.C. Haas have been the past three years. There's a mass of published economic and financial data that they are ignoring in an attempt to divert blame for our poor economic condition.

Since 2008, under President Obama, the price of gas has doubled, food stamp participation has increased by 50 percent to more than 46 million, our national debt has increased by 50 percent to more than $15 trillion, the median home price has been reduced by 13 percent, the unemployment rate has increased by 50 percent to 16 million, and the rate of poverty has increased by 15 percent to more than 46 million. One cannot blame President G.W. Bush for the last three years of Obama's disaster.

Obama never gave our economy a chance. He wanted to raise the capital gains tax rate, which inhibits the investing of capital. He wanted to raise corporation tax rates, which, along with the threat of raising capital gains, would reduce the production and employment of corporations. He wanted to raise the tax rates on those in the upper income, which inhibits hiring within small businesses. The threat of these increased tax rates reduced the tax revenues of 2009 and 2010 to $2.1 trillion from $2.5 trillion in 2008. Obama has accrued a national debt of $2.7 trillion in two years, while it took Bush eight years to accrue a debt of $2 trillion.

By the way, as a senator, Obama voted for every one of the stimulus packages under Bush. Remember, the House and Senate were under Democratic control for the last two years of Bush's presidency.

Obama's only job proposal was to create more government jobs, which are paid by tax revenues. We are broke and cannot afford to pay for more government jobs!

I do not understand what Haas means to reform and restore fairness to the tax code. The definition of fair is "equitable to all parties." The top 1 percent of income earners pay 40 percent of the federal income tax, the top 10 percent pay 70 percent, and the bottom 47 percent pay nothing! So, what is "fair"?



Jerry Fowler

Prescott



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Reader Comments

Posted: Sunday, March 04, 2012
Article comment by: Give'm Hell Harry

Poor Jerry, he is suffering from an overdose of FAUX News and senility has finally set in!

Posted: Thursday, March 01, 2012
Article comment by: Kathy Svendsen

Jerry, if you had been paying attention to news sources over the last few weeks, you would know that presidents have no control over the price of gas. If they did, you would have seen prices drop at every election time. The price is determined by what is happening in the Middle East and how much oil speculators are bidding. Iran is angry with France and England, so speculators have bid up the price per barrel.There is no other explanation for a rise in prices when demand in the U.S. is low and gas is plentiful.

You have written before and your made-up your facts were successfully refuted. I see you're sticking to your "facts".


Posted: Thursday, March 01, 2012
Article comment by: Nice Try Yourself

@Nice try- The largest deficit in US history was in FY 2009, from a budget submitted by president GWB. They have gotten lower every year since then.

http://www.usgovernmentdebt.us/federal_deficit_chart.html


Posted: Wednesday, February 29, 2012
Article comment by: Death of Conservatism, Rise of Corporatism

Low tax and low inflation has been an incentive to park/hoard capital. When that money can be borrowed from the Federal Reserve at low interest, and earn higher interest by banking those funds with the Federal Reserve, you have arbitrage and even less incentive to put that capital to work. Raising the tax rates puts pressure and creates an incentive for putting that capital to work. Otherwise, inflation and taxes will eat it up. From the perspective of the mulit-national corporations, who cares about putting anybody to work as long as they can buy favorable legislation to fatten the bottom line from those willing to sell. They found that in the criminal enterprise of G W Bush and the Republicans, except they went too far and were too greedy and crashed the economy. They will be more careful should we ever be dumb enough to give them the chance to screw us again.

Posted: Wednesday, February 29, 2012
Article comment by: Sheesh Deluxe

I keep voting for republicans and things keep getting worse! it's probably those darned liberals' fault.

Posted: Wednesday, February 29, 2012
Article comment by: Nice Try

R.J.: At the risk of interjecting some truth into your life.Obama has actually been responsible for the largest annual deficits, for several years now, in US history. Liberals are just sure no one is actually even going to check their statements. It's not very smart along with being dishonest.

Posted: Wednesday, February 29, 2012
Article comment by: Bob Lynne

Fowler stays true to the voodoo economics espoused by President Reagan and continues to be confused and uninformed about President Obama's actions.
Obama has cut taxes for the middle class and for small business. It is true that as a Senator Obama voted for the stimulus packages. That was the right vote. Then as President, Obama continued the stimulus and bailed out the U.S. Auto Industry. For the short term this was the right thing to do and it has worked. Without this stimulus and financual support for the banks, our financial markets would have imploded and unemployment would be much higher. We would be in a depression even now.
Fowler continues to be confused about who the 1% are and who small business represents. Small Business is not the 1% so taxing the 1% will have no effect on Small Business. Raising taxes on the rich will increase revenue, contrary to what Fowler thinks. Bush showed us that cutting taxes does not create jobs. In fact more jobs were lost under Bush than under Obama. We have now had 22months of straight job growth under Obama.
Fowler's right wing ramblings are out of date and essentially misleading.


Posted: Wednesday, February 29, 2012
Article comment by: Peter, Yavapai County

Jerry, government jobs have been eliminated even as unemployment is decreasing. (Check the latest official employment statistics if your interested.)

In addition, after seven years of Bush policies (tax cutting, non budgeted war and deregulation) investors suddenly lost confidence in the bubble economy of 2008. Mr. Bush left office 3 months after the devastating financial collapse leaving the DOW industrial average 36% below when he took office.

Mr. Obama took office in January of 2009. Since then, the stock market has rallied 85% higher! I have HOPE for retirement due to the CHANGE in my mutual funds.


Posted: Wednesday, February 29, 2012
Article comment by: R J

The two presidents responsible for the largest deficits in history we're Bush and Reagan. This is a fact. They did it poring money into pork-barrel earmarks and bloated defense contracts. Obama has been spending money to save the economy, unlike the depression -era policies of letting it go it's own.Give Obama a break. If the Republicans we're in power we would be going the way of Greece.

Posted: Wednesday, February 29, 2012
Article comment by: Jim Naumann

Mr. Fowler, regarding the current tax structures, please take a look at Mr. Rommey's offshore tax evading policy, then, can you imagine if President Obama was hiding money in the Caymens??
Oh the outcry!!


Posted: Wednesday, February 29, 2012
Article comment by: Joe Zarnoch

Unbelievable!!! You donít believe the current tax system is unfair? Well, keep on paying higher taxes and a higher tax rate than many millionaires, billionaires and corporations who take advantage of all the loopholes, exclusions and exemptions. Most middle-class Americans paid way more in taxes than billion-dollar companies like GE, Citigroup and Bank of America, who, COMBINED, PAID EXACTLY ZERO IN TAXES RECENTLY. Jerry, sounds like you need to quit listening to the Tea Party baloney and get an education on the real facts.

Posted: Wednesday, February 29, 2012
Article comment by: The Rev

@"Whatever Happened?" brilliant!

Posted: Wednesday, February 29, 2012
Article comment by: Whatever Happened?

Whatever happened to politics being about a difference of opinion? Now, if your on the "other side" you are a neo-con, a religious fanatic, a socialist, a nazi, unamerican, the devil incarnate. Lets get real here people and just understand differences of opinion. This hate is really unamerican, disgusting, and sets a horrible example for the children of our country and the rest of the world. Emotional Maturity in the face of fear of the unknown or what is different is so important. One last thing - regardless of who is president - no failing economy is ever the wrong doing of just who is in the Presidency - these things are cumulative effects from decades of decisioning by both parties. Reality - lets get some.

Posted: Wednesday, February 29, 2012
Article comment by: Get a grip on reality! Why are you ignoring the past?

Jerry, all of these economic woes started with the Bush/Cheney era with the two wars, tax cuts, etc. If you remember, which it is obvious you don't, when Bush took office there was a surplus and the economy was in a positive mode. So get off of Obama's butt because he inherited this mess from Bush.

Posted: Wednesday, February 29, 2012
Article comment by: Mr. Maverick

If you letter is true why has not one CEO taken up Rupert Murdock's offer of million dollars if he or she can prove they pay a higher percentage of taxes than their secretaries? You seen to be very mis-informed. FACT: We are now paying the lowest taxes in SIXTY (60) years!

Posted: Wednesday, February 29, 2012
Article comment by: Mr. Maverick

How utterly ridicules. Obama took over as President with the HUGE mess Bush left. I think if you would check the President has no power to change any of your rants. Yes, Bush CAN be blamed for what he did without a time limit! His blunders will reverberate in our economy for many more years to come.

Posted: Wednesday, February 29, 2012
Article comment by: Sheesh Deluxe

Mr. Fowler apparently just woke up from a 12 year coma, looked around, and immediately blamed the guy currently in charge. Anybody want to fill him in on the ones responsible?

Posted: Wednesday, February 29, 2012
Article comment by: STORY TIME BY JERRY FOWLER

Jerry states all the wants by the Obama administration, which NEVER took place. Instead, with great hesitation Obama extended the Bush tax cuts, which had proven to do nothing for the economy in job growth, but did prove that with spending and tax cuts in the Bush administration that the national debt did increase. Do you remember when Bush took office the national debt was 5.768 trillion with a projected surplus and when he left if was 10.626 trillion debt. Almost 50% increase. As far as gas prices, we all know they go up and down with every president. I remember in the summer of 2008 paying over $5.00 a gallon, but never blamed Bush. Also remind yourself that the budget for 2009 was already set by the previous administration and it was projected by the CBO that 2009 would have a 1.2 trillion deficit before Obama took office. It sounds like you wish to blame the current administration for what he wanted to do, but didn't do. We would probably be in alot better position today if Obama had gotten his way. None the less, the umemployment rate is down, consumer and business spending is up along with confidence and the US growth factor was stronger in fourth quarter than originally announced. We have the facts now and Bush's record on the deficit and spending was not good and Obama under the stimulus reduced taxes for 98%, which was the lowest in 60 years. Your story time continues with the loss of revenue for 2009 and 2010 due to the threat the the tax cuts being revoked. Your example of loss revenues in 2008, from 2.1 trillion to 2.5 trillion, if correct, more likely was due to the biggest meltdown of the economy since the great depression. Well your Grimm fairy tale is over and the economy is on it's way to recovery, in spite of the republicans do nothing approach.

Posted: Wednesday, February 29, 2012
Article comment by: Independent Spirit

Great Letter Jerry!

Too bad its full of real facts. Libs and DIMocrats will just ignore them. They seem to have a real problem with basic math not to mention reality.


Posted: Wednesday, February 29, 2012
Article comment by: Bob Smith

Jerry - you make excellent points, but you have to remember that you cannot reason with unreasonable people, i.e., liberals and lefties. They have an anti-America agenda and do not want to be confused with facts.

Posted: Wednesday, February 29, 2012
Article comment by: Tom Steele

Mr. Fowler the answer to your question is to remove Barrack H Obama from office. That alone will free up the economy with optimism for the future. Under Mitt Romney's leadership we will finally rebound from a four year recession. Hopefully, there will also be a removal of Dirty Harry from the senate leadership as well. Then we can get to work repairing the damage done to our economy and debt.

Posted: Wednesday, February 29, 2012
Article comment by: pablo noname

Tax the rich! Feed, house, clothe, transport the poor and those who don't want to work! Buy cell phones for all welfare recepients and the homeless, feed every 3rd World Country with corrupt dictators in charge! Vote for a Prezident that shuts down our economy for the good of China that uses political prisoners' labor to make our stuff cheap! Outlaw FREEDOM for our own good! Wow, I FEEL like a HUMANITARIAN.



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