September 11, 2008

Dear Mr. Kudlow;

I am a little late in reading your article, "There's Something Missing in St. Paul"
containing the reference, "A three-house sweep is bad for the economy and the stock market."

I find it interesting, in fact, astounding, that few people of any real stature in the finance world, save Bruce Bartlette, have said anything at all about the flagrant abuse of the national treasury by George W. Bush and a "three house Congress."

All I ever read from economists, especially Republican economists, about balancing the national budget is to take away any and all so called, "entitlement programs" that benefit needy Americans and thus benefit all Americans. (After all, of what use to any of us, especially those of us who are better off, is a person in need of life assistance unless that assistance is met)?

The fact is that the so-called tax breaks given to Americans (with money borrowed from foreign nations) are nothing more than the leftover crumbs after corporations have been well indulged.

Be that as it may, we have a choice to pay back those foreign loans or continue to let foreign corporations and nations buy up (what is left) our economic infra structures.

It is not the American people, but the American corporations (via the winking and blinking of a "three house" Republican Congress) that have led this nation into the financial mess that it is in. And the corporations, having received the lions share of tax breaks, should be taxed to pay for it.

It doesn't take much of an economist to understand that if American corporations had invested those tax breaks in the United States rather than not, more American people would be working and contributing to our economy and to our tax base.

That Barack Obama, should he become the next president, is not the problem. He will only inherit the problem.

Sincerely,

Dennis A. Rice