Friday, April 13, 2018

Who does NJ need to fear?


There was a tax cut passed into law. We in NJ did not see all of the benefit because there was a deduction limit placed on our amount of taxes paid to local and state governments.
Corey Booker, the NJ Senator who wants to be President elect in 2020, claimed the tax cut is driving up the deficit because funds are not flowing to the (Federal) Treasury. We had eight years of that type of thinking by the Guy who told us two percent GDP is the new normal.  The less money going to the US Treasury the more we have to spend. The more in the hands of citizens, spend, and save, the more our economy will grow.
I remember the Richard Nixon-Nikita Khrushchev Kitchen debate in 1959 wherein Nikita swore the Soviet Union would bury the United States. The mathematics of the Khrushchev point was they would have a growth of 6 % per year while the US will only have 2%. We saw that for eight years of Obama. Beware of the Booker.Yet Booker's latest brainstorm is full employment. the question that must be asked is,by whom? Yet Booker's latest brainstorm is full employment. the question that must be asked is,by whom?

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