Thursday, June 9, 2011
Tim Pawlenty What Happened?
Tim Pawlenty went from being dull to being crazy overnight. Gov. Pawlenty has introduced his economic plan and it makes the Ryan plan look reasonable. He would change Medicare immediately, he would eliminate capital gains taxes, he would lower the top tax rate to 25%, he would deregulate business more, and he would privatize all functions of government except the military. The theory is that if the wealthy just had more money they would finally create jobs. His plan would cost $7.8 trillion dollars over 10 years. This plan does nothing to increase demand for goods or spending which is what drives this economy. The rich cannot possibly spend enough of their money to keep the economy afloat. Until we get more money into the hands of more people this economy will stagnate.