Dear President Obama the following is your economics 101 lesson for the day: The ONLY way to decrease poverty and increase revenue is to grow an economy (increase GDP, Gross Domestic Product is the total of all goods and services produced). You can NOT grow the GDP by transferring (moving the same dollar from one location to another) or printing money (printing increases the number of dollars in circulation but the value of all the dollars together does not change) you must create NEW money (Value) by increasing the production of goods and services. Such increase in NEW money enlarges the pool of money and value available for all. The net result is more dollars trickle down to create new tax revenue for your social programs, more jobs for your citizens and a higher standard of living at ALL levels of society. So please incentivize business and individuals to produce more and let them retain more working capital to invest in production so that America can create NEW money. Your transfer of wealth from one pocket to another, which sounds good in theory, in reality simply decreases the amount of money available for all wealthy and POOR alike.
Posted on: Fri, 06 Sep 2013 07:15:48 +0000
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