Topic: "Survey Says" (6)
GDP is an acronym. Acronyms are sometimes confusing to Frodo. GPS, for example, and other techy-sounding capitalized letters are a thousand light years away from LSMFT (readers under forty, who have never smoked, will be up all night with that one). GDP is an acronym that seems to come under discussion the closer one gets to an election, and Frodo thinks it is a good idea for non-Koran book burners to concentrate on it for at least the next two months.
The President has put forth a very good idea to spur the economy. He has proposed that businesses who buy capital equipment, say like a bulldozer for example, get an immediate credit off their taxes, as opposed to the current practice of "depreciating" the cost of the bulldozer over a five-to-seven year period of time. This is an incentive for the business to spend money now, and to find a use for that bulldozer knowing that the price may never be lower. It follows that they will have to hire someone to drive it. At the same time, the company who made the bulldozer will recognize that they can sell even more bulldozers, so they will need more people on the assembly line in order to make even more money. Businesses such as these will make more money, and therefore have bigger tax bills to pay. Revenue to the government will increase, without raising tax rates, and the tax revenue lost to the credit will be erased.
What Frodo likes about this plan is that it improves the GDP in an entirely different manner than what has happened over the past decade, when the growth in GDP came from retail customers who borrowed money and spent it like "drunken sailors." The retail customer was the source of the flow of cash into the economy, which is fine, as long as that person has a job or feels pretty good about his ability to eventually pay the piper his due. The problem has become that the retail customer lost his job, or he is afraid that he may, so he stops spending. That momentum has carried itself throughout the economy and has resulted in furloughs, lay-offs, production cutbacks, and all those things which have caused the GDP to fall like a rock.
The President is attacking the problem in order to reverse the negative momentum by getting people back to work and incentivizing business to do so. Doesn't sound so hard, does it?
So why didn't the Republicants come up with the idea?
John Boehner, Joe Barton, Newt Gingrich, Sharon Angle, Michelle Bachmann, Joe Miller, Rand Paul, Jim DeMint, Willy Gomert, Carly Fiorina, Sarah Palin, Glen Beck, Rush Limbaugh, "You Lie" (from South Carolina, the moron whose name even Frodo can't recall), John Ensign, Vitter, and yes, even good ole John McCain, are not the friends of peopple trying to make their way in the world today.
As the song said, "It takes everything ya got," and these losers haven't done diddly-squat.
Vote like your life depends on it, because it does.