Business Feed Article | Business | guardian.co.uk: "NEW YORK, May 29 (Reuters) - It's not just California that threatens to sabotage the Obama stimulus. State and local governments across the nation are gradually unraveling federal efforts to revive growth."
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Indeed. State and local governments are undoing the federal stimulus package by raising taxes. Here in Illinois the legislature is poised to increase the state income tax by 50%, and they are jacking up taxes on many products and services as well.
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It is just like Reagan said. Government IS the problem! It is government that is primarily responsible for this whole economic mess, whether it be the mess with Chris Dodd and Barney Frank pushing banks to lend to unqualified borrowers or the bailout mess, which will do little to solve anything.
The best stimulus for the economy would be to retain the Bush tax cuts, cancel health care "reform," and scrap the proposed "cap and tax" system. (Carbon dioxide is NOT a pollutant, anyway!) Instead, all they are doing in Washington is figuring out even more new and onerous taxes. Government is sucking our economy into oblivion.
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