Dear editor,
Democrat Tom Steyer and Republican Peter G. Peterson have something in common: they both have TV ads demanding deficient, neutral tax cuts.
On the surface, this sounds great, but in reality they're trying to undermine the real purpose of tax cuts, which [is] to stimulate the economy to hopefully create jobs for the American people. My using the word "hopefully" is because there is no guarantee other than the fact that, historically, every time taxes have been cut as suggested the economy grew and jobs were created.
The Congressional Budget Office only assesses taxes lost and doesn't factor in additional taxes collected from economic growth. The alternative high tax approach created a stagnant economy with a stagnant job market, and taxpayers paid for benefits issued to those without jobs or with lower-paying jobs to make ends meet.
We accumulated a $9 trillion debt to grow government's responsibility with this Democrat approach, and it would have been $12 trillion if not for sequestration, which cut government spending.
To enter your home, chances are you must first open a door. The door to more private-sector jobs is first lowering taxes, leaving more money in the hands of corporations, larger and smaller businesses to invest [by] creating jobs either through expansion, [research and development] for new products, and new startup businesses, with all generating new taxable capital.
As a household, you should understand when government cuts individual taxes, leaving more money in your pocket, you are allowed to improve your household how you see fit by buying needed or wanted items.
But none of this happens immediately when the tax cuts happen, just like Obama found out regarding government shovel-ready infrastructure jobs. It does take time, but the private sector moves at a speed government can't match even on its best day!
The purpose of business is to earn money; the purpose of government is to take money without earning it, and thus it has no respect in regards to taking or spending it!
STEVEN KING
Milton
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This article originally appeared on Santa Rosa Press Gazette: This is the purpose of tax cuts