Let’s not pretend that everyone is suffering equally

Unless you’re a bankruptcy lawyer, a repoman, or you had a large amount of money bundled up in credit default swaps, you have probably been hurt by the recession, but it’s time for us to stop pretending that everyone has been hurt equally.

Instead up stepping up and asking how we can share in sacrifices, it seems like every group is at the table asking for more relief and assistance–including the wealthy.  If you still have a job, if you still have a place to sleep at night, and if you have health insurance, take a step back and think about who the recession has hurt most–those already struggling to get by–and consider what needs to happen in our state to make sure it grows and is ready for the future.

The NC GOP is gutting important programs, under the guise of fiscal necessity (including healthcare for the most vulnerable and education that is vital to the state’s future, and basic law enforcement that keeps us all safe).

That’s why the most recent round of proposed tax cuts for the wealthy being put forth in the NC Senate are unconscionable–as noted by NC Policy Watch, if you’re in the bottom 1/5 of income, expect a cut of just $5, while if you’re in the top 1%, you’ll have $1,830 more in the bank (thats a difference of 366 times!)

It’s not because this type of “trickle-down” economics has been proven to work–the opposite is true.  At the federal level, the Congressional Budget Office in the fall of 2010 found that  tax cuts for the wealthy were the least effective of 11 types of stimulus.  What topped the list?  Increasing aid to the unemployed, followed closely by aid to the states (to help the states avoid laying off workers).  That’s the exact opposite of the NC Republican plan.  Our state senators our shooting our state in the foot, while lining the pockets of their friends at the country club.

North Carolina: How can we sit back and let more of our neighbors fall into poverty, when we cut taxes for the wealthiest?  

Published by Elena Botella

Elena Botella is a Duke Undergraduate in the Class of 2013, majoring in Economics and Math.

2 thoughts on “Let’s not pretend that everyone is suffering equally

  1. It’s really unfortunate that elected officials haven’t realized that the time to be self-righteous about fiscal responsibility and cut programs is not when the economy is in the gutter. This is sadly true of Democrats as well as Republicans.


    1. That having been said, to give Republicans credit, their philosophy for recovery is that a smaller government will improve the economy, and in this sense, the “balanced budget” element of their rhetoric is almost independent from the “small government will lead to the recovery” element (of course, the latter does not seem to jibe with empirical reality).


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