Drew Benson's blog

The conventional wisdom suggests that Franklin D. Roosevelt, through massive government intervention, pulled the United States economy out of the Great Depression.

Often times when we talk about the national debt and deficit spending we focus on its “future liability.”  On multiple occasions I have heard the statement, “The national debt will cost the U.S. future resources.”  “Future resources?” What is this, Star Trek? Are we going to time warp supplies and goods from 2020 to fund our 2010 expenditures?  In reality, the debt and deficits are costing U.S.

It is easy to demonize the “wealthy” who reside in the upper two income tax brackets.  After all, these “scrooges” are sitting on a pile of money, and they need to pay their fair share.  The thinking is that the government can simply skim some money off the top with virtually no effect on business since it is a tax on “personal income.”   This is the standard rhetoric coming from those who support the expiration of the Bush Tax Cuts in January 2011, but are they right that it will not affect businesses