GREECE AND THE U.S.
Krugman column and editorial miss the mark
Paul Krugman's column ("Know this: We're not Greece," May 16) is completely off the mark. He needs to take off his ideological blinders and should take Economics 101.
No one is saying that we are Greece today, but we're headed in that direction if we don't do something about President Obama's planned trillion-dollar deficits over the next decade. You don't spend your way out of debt; you grow out of it aided by fiscal responsibility.
Krugman's leftist mantra conveniently ignores what every government economic study repeatedly confirms: that tax cuts create jobs and wealth and increase government revenues. Whatever recent job growth that has occurred is the result of the normal upturn of the economic cycle after the recession of the last two years. The only jobs the stimulus has created are in the public sector.
Our government disproportionately taxes its most productive citizens and companies, while half of the people don't pay any taxes at all. An inverted triangle where a small percentage of people pay the vast majority of the taxes is not a sustainable model.
Moreover, a government can tax all it wants, but to remain viable it still has to live within its budget and exercise fiscal restraint and sound monetary policy.
I do agree with one point Krugman made: I am trying to destroy the welfare state. I want a country where we're self-reliant and not dependent on the government; where we have the freedom to pursue our dreams, not sit back and wait for entitlements; where my government doesn't tell me how much money I can make and doesn't regulate every aspect of my life.
GARY FRANKLIN, LAKEVILLE
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