by Laura Conaway

Economist Diana Furchtgott-Roth of the Hudson Institute challenged Obama supporters on Wednesday to make sense of their presidential candidate's economic proposals.

Listener John Moyer sends this response:

"Obama's Plan makes sense, the problem is people always hear we're going to tax the wealthy and then think the opposite of the old Reaganomics plan and think by taxing the rich you'll automatically stop job creation.

 

"Well, if you JUST tax the rich I'd be slightly be inclined to agree, slightly, not much. However, he's not just taxing the rich, he is also relieving the tax on the middle and lower classes. This will mean they'll have more money to spend, and they're going to do two things with it. One, spend it on retail items which will move business back into the number that they were used to before the crisis.

"Two, they'll do what I'd do, invest it for later, which would move the stock market to the number we were all used to before the crisis. It's a win for both Wall Street and Main Street. It's this kind of theory that'll bring America's economy back, not lowering taxes for the rich. If the rich could make their business grow without employing the poor and middle class they'll do it, they're not in the charity business, and that's why it doesn't work.

"Look at outsourcing to other countries, that is big businesses growing their businesses without employing the middle and lower classes of America."

Sincerely,

John Moyer