I Present The Liberal Left!!

Greetings Sir Rodney, Giving credit where credit is due, our own Sndcain hunted down and shared the following eye-openning article. I found it so potent, and so relevant that I'd like to share an excerpt. http://www.time.com/time/magazine/article/0,9171,921854-2,00.html Below is that excerpt: [i]"In follow-up press conferences Saturday morning, Federal Reserve Board Chairman Paul Volcker proclaimed that "the greatest risk beyond doubt" facing the economy is accelerating inflation. Not only do rapid price rises bring "direct pain and distortions," he said, they also prepare the way for a serious recession. Said he: "There is no way we can deal with the problems ... other than by placing restraint on people who individually would like more credit." Treasury Secretary G. William Miller similarly asserted that the Administration's first priority "is to demonstrate the political will to bring our budget under control, demonstrate to the American people and the world that we can do this." As this barrage of resolute rhetoric might indicate, inflation is not only a frightening economic problem but is rapidly becoming Carter's most dangerous political liability as well. Campaign audiences for the President's numerous rivals are showing at least as much interest in the economy lately as in Iran or Afghanistan. In Carter's own party, Ted Kennedy has made a demand for wage and price controls his major issue, and is apt to answer any question on any other subject with an attack on inflation. On the Republican side, Front Runner Ronald Reagan has been hammering increasingly harder on economic issues. Said he, campaigning in Illinois Friday night: "It's Government that causes inflation, and Government can make it go away by cutting out deficits and stopping the printing of money."[/i] If Barney Franks and his 'tax & spend' cronies don't want to listen to our shreiks about inflation and an out-of-control, credit reliant economic policy, then perhaps Barney will take heed from Jimmy Carter's disastrous administration. What most frustrates me is that the majority of knuckleheads that we have elected to Congress still seem to miss the connection between accelerated inflation - rapid rising prices - and the effect that foreign dependence on oil has on the cost of our goods, services, manufacturing, and transport industries. Hey Congress, - Drill here, drill now. - Stop sending 7 trillion per year overseas. - Follow the Reananesque lead of 25 other industrial nations by lowering the corporate tax rate - and get out of the way of the steam-engine of our economy, the small business entrepreneur. Then, we'll all see our economy settle back down to a state of calmer consistency. "There's a trend here. At least 25 developed nations have adopted Reaganite corporate income tax rate cuts since 2001. The U.S. is conspicuously not one of them.... ... In each of the countries that have cut corporate tax rates this year, the motivation has been the same -- to boost the nation's attractiveness as a location for international investment.... ...Tax receipts tend to fall below their optimum potential when corporate tax rates are so high that they lead to the creation of loopholes and the incentive to move income to countries with a lower tax rate. Ireland is the classic case of a nation on the "correct side" of this curve. It has a 12.5% corporate rate, nearly the lowest in the world, and yet collects 3.6% of GDP in corporate revenues, well above the international average http://online.wsj.com/article/SB118428874152665452.html?mod=opinion&ojcontent=otep If anyone has ever wondered if there is a real cost of ignorance; the answer is yes. We're paying it everyday that our elected representatives dig us deeper and deeper into a pit of debt with their unbridled spending, and obstinate refusal to "Put America First". We currently have two Presidential candidates who are promising us the moon. Yet, only one is promising pervasive use of the VETO PEN. All things being equal, that one distinction should make us all think long and hard. Neither candidate is going to be able to fund their 'pie in the sky' promises. Given that reality, I'll take the one whose made those veto promises, anyday.