Bloomberg.com
By David Rosenberg
Feb. 26 (Bloomberg) -- Benjamin Netanyahu plans to apply the same small-government policies when he becomes Israel’s prime minister as he did six years ago as finance minister. Then, his tax and spending cuts helped lift the economy out of recession. They may be less suitable this time around.
The Likud party leader, who has until April 3 to form a coalition, faces a shrinking economy, a growing budget deficit and a frozen corporate bond market. The recession in the U.S. and Europe has clobbered Israeli exports, which account for about half of gross domestic product in a country whose economy is smaller than Singapore’s. His only fiscal tool for the moment is a budget drawn up in August and stalled in the parliament...
No society has EVER taxed itself into prosperity, but EVERY time that taxes have been cut the economy prospers. John Kennedy cut taxes and the economy prospered and federal revenue increased. Ronald Reagan cut taxes and the economy prospered and federal revenue increased. George W. Bush cut taxes and the economy prospered and federal revenue increased. If you find this hard to believe, check the OMB stats. Benjamin Netanyahu understands this and his country will prosper as a result. Obama, Pelosi, & Reed know this, but don't care because they are more interested in their power and control over the people of this country!
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment