Cut taxes for job creators, not salaried workers

As more Baby Boomers start receiving Social Security benefits, more and more strain will be put on that system. Social Security is supposed to be paid for with payroll taxes, but President Obama and his party, with the foolish support of the GOP, call for reducing those taxes to spur economic growth.

The results are in, and growth is anemic at best. Unemployment is well north of 8 percent and would have been even higher if so many people hadn't already given up looking for work.

Meanwhile, the proven growth policies of lower marginal tax rates and lower capital gains are being resisted by Mr. Obama's Washington and its cheerleaders at The Sun, on the grounds that job creators who invest money and effort in new enterprises to make money are being "unfair."

Is it any wonder that our economy remains stagnant, but our budget deficits continue to balloon with an ever increasing burden on our children and grandchildren?

Until Mr. Obama and the Washington politicians cease promoting election-year bread and circus gimmicks, we will have nether a sound economy nor any meaningful entitlement reform.

Robert C. Erlandson, Lutherville

Copyright © 2015, Los Angeles Times
Related Content
  • Unemployment is worse than Obama administration claims

    The Obama administration and the liberal news media continues to keeps up their line that the unemployment rate is between 8 percent 9 percent. Don't believe it, as nothing could be further from the truth. The real unemployment rate ranges close to 15 percent or 16 percent because of the Obama's...

  • Help for the unemployed?

    Help for the unemployed?

    Our view: Renewal of unemployment benefits, largely overlooked in Congress' debate over extending the payroll tax cut, comes with a hefty price

  • Timid Democrats and radical Republicans: A dangerous combination

    Your article, "New budget to renew battles" (Feb. 12) points out the stark and perhaps unprecedented separation between our two major political parties. Democrats continue to display timidity and confusion and are often too ready to compromise, but they have generally proposed balanced approaches...

  • Taxing stock gains would hit middle class, too

    Not just the 1 percent invest in stocks. The Democrats would have you believe that the middle class don't get any income from the stocks, so we should double the tax rate on income derived from the stock market. Where exactly do they expect the "middle class" to put their money? Saving to put kids...

  • Obama's plan to raise capital gains taxes will drive investment offshore

    In his State of the Union Address, President Obama barely touched on the country's soon-to-be $16 trillion national debt, massive joblessness, entitlement insolvency, economy-crippling government regulations and the other compelling issues ("Obama targets economy, taxes in address," Jan. 25).

  • What has 30 years of Reaganomics brought us?

    Thank you Dan Rodricks for your insightful commentary ("A man out of tune with the times," Jan. 23). It was a perfect review of Reaganomics 30 years later. A world of huge disparity, where those who became rich by living in this great country don't want to pay their fair share. Shame on them.

  • Creating an economy 'built to last'

    Creating an economy 'built to last'

    President calls for tax changes to bring jobs home, all-of-the-above energy strategy and a 'reemployment' system

  • A level playing field for jobs

    A level playing field for jobs

    Peter Morici says U.S. priorities for boosting employment should be fair trade policies, aggressive energy development