{"id":37638,"date":"2017-12-01T09:18:47","date_gmt":"2017-12-01T14:18:47","guid":{"rendered":"http:\/\/www.unionvilletimes.com\/?p=37638"},"modified":"2017-12-01T09:18:49","modified_gmt":"2017-12-01T14:18:49","slug":"letter-phony-tax-plan-wont-stimulate-the-economy","status":"publish","type":"post","link":"https:\/\/www.unionvilletimes.com\/?p=37638","title":{"rendered":"Letter: Phony tax plan won\u2019t stimulate the economy"},"content":{"rendered":"<p><strong>To The Editor,<\/strong><\/p>\n<p><a href=\"http:\/\/www.unionvilletimes.com\/wp-content\/uploads\/2017\/12\/Letters1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-5909\" src=\"http:\/\/www.unionvilletimes.com\/wp-content\/uploads\/2017\/12\/Letters1-150x140.jpg\" alt=\"\" width=\"150\" height=\"140\" \/><\/a>Phony Tax Plan Won\u2019t Stimulate the Economy<\/p>\n<p>Despite the insistence of\u00a0Senator Pat Toomey, the tax overhaul before Congress will NOT stimulate the economy.\u00a0 Here\u2019s why:<!--more--><\/p>\n<ul>\n<li>The bill favors tax cuts to businesses and the wealthy.\u00a0 How is that going to stimulate anything but their own pockets?\u00a0 When wealthy folks get surprise money, they put it in their bank or stock account instead of spending it, unlike the poor and middle class who actually spend, thus creating more demand, more production, more employment, etc.<\/li>\n<li>It\u2019s nonsense that the wealthy are job creators.\u00a0 If you\u2019re a CEO of a\u00a0corporation or a rich attorney, doctor, entertainer, or entrepreneur, you\u2019re not going to hire anyone just because you\u00a0received a personal windfall.\u00a0Hiring is a function of demand for a product or service.\u00a0 No new customers, no hiring.<\/li>\n<li>Pat Toomey used to be a deficit hawk but he\u2019s doesn\u2019t seem the least bit upset that the tax bill is projected to add $1.5 Trillion to the national debt.\u00a0 Why is Congress even considering an increase in the national debt when it\u2019s already out of control?<\/li>\n<li>Rescinding the Obamacare mandate to buy health insurance will only make health plan prices rise, further decreasing discretionary spending, thus hurting economic growth, not to mention making the plans unaffordable.<\/li>\n<li>This tax cut is a re-run of the 2000s, when tax cuts did NOT result in spectacular economic growth, as predicted.\u00a0 The economy stagnated and put the U.S. further in debt as a result of less tax revenue. Why should we expect a different outcome now?<\/li>\n<\/ul>\n<p>Neither the Senate nor House\u00a0tax bill is good for you or the economy.<\/p>\n<p style=\"text-align: right;\"><strong>Barbara Palladino<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>Landenberg<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To The Editor, Phony Tax Plan Won\u2019t Stimulate the Economy Despite the insistence of\u00a0Senator Pat Toomey, the tax overhaul before Congress will NOT stimulate the economy.\u00a0 Here\u2019s why: &nbsp;&nbsp; Send article as PDF &nbsp;&nbsp;<\/p>\n","protected":false},"author":1,"featured_media":37640,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[5890,6859,10676,232],"class_list":["post-37638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commentary","tag-letters-2","tag-pat-toomey","tag-plan","tag-tax"],"_links":{"self":[{"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/posts\/37638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37638"}],"version-history":[{"count":1,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/posts\/37638\/revisions"}],"predecessor-version":[{"id":37639,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/posts\/37638\/revisions\/37639"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=\/wp\/v2\/media\/37640"}],"wp:attachment":[{"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.unionvilletimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}