Mike Moyle is at it again. Proposing tax cuts, promising that they will stimulate the economy and make us all more prosperous. It’s the same story that some in the Republican Party has been putting out for the last 35 years and promising to shrink the debt. George H.W. Bush called it Voodoo economics. In 1980, the top-tier federal tax rate was 70 percent. By 1988 it was 28 percent. People making millions saw their taxes cut 60 percent. Middle class people barely saw any cuts, some saw increases. The result was that the income gap, which had been shrinking for 35 years, began to grow. The growth in the economy didn’t happen, the federal deficit didn’t shrink, it exploded.
So Moyle’s tax cuts won’t make us more prosperous, it will just grow the wealth gap. K-12 teachers will continue to buy school supplies out of their own pocket. Cost of higher education will grow and highways will continue to deteriorate.
The experiment didn’t work in the ’80s and hasn’t since. This shouldn’t be a Republican or Democrat issue. Regardless of Party, please tell your legislators that we can’t afford more tax cuts to make the wealthy wealthier. Just say no.
Darwin Roy, Mayfield