Uncle Jay Explains: August 17, 2009

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About Clark Bunch

Clark Bunch is the pastor of Unity Baptist Church and author of God is Near. He and his wife Teresa have one child. In his spare time he enjoys blogging, playing guitar and riding his motorcycle. And coffee, he'd be nowhere without coffee.
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2 Responses to Uncle Jay Explains: August 17, 2009

  1. James says:

    if you spent $30 MILLION a day every single day for 2000 years it would still not equal to obama’s $23.7 TRILLLION in financial bailouts

    … the main reasons why people get poorer are because of higher taxes and inflation.

    Like

    • Clark Bunch says:

      Obama is certainly guilty of deficit spending, but $23.7 trillion is not accurate. Congress passed a $700 billion package in November, before Obama took office. It may have been amended/ altered since then, but not by trillions of dollars.

      People have not gotten poorer because of higher taxes. Politicians get elected by promising to lower taxes, but actually doing that effectively lowers the government’s income. “Spend more, tax less” makes leaders popular but puts the Fed Gov’t further into debt. Sooner or later the U.S. is going to have to raise taxes (on people that are making money) in order to repay some of our debt. Income is always taxed at percentage of what is made, and the system is graduated. You can’t do worse in a given year because you made more money than last year; it doesn’t work that way.

      Like

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