Taxes not the problem

Mr. Mike Fagan says that we need less regulation and lower taxes to spark our economy.

Lower taxes were tried during the Bush administration. That cost America over 8 million jobs, helped to destroy the economy and turned a huge budget surplus into a huge deficit, as well as the deregulation of the derivatives market that started under Bush.

Less regulation was tried during the Ronald Reagan years. That led to the savings and loan crisis, costing Americans over $125 billion. This was also tried during the Bush Sr. administration.

Deregulating the banking and housing industries allowed the housing collapse, and was one of the main forces that brought on the worst financial crisis since the Great Depression. Deregulation, not taxes.

What we need is sound planning and smart, tough decisions, not more cuts to taxes and regulations. That is not why companies aren’t hiring. The reasons are maximizing profits and a do-nothing tea party-led GOP that is more concerned about the White House and the well-to-do than common people.

Sean McMullin

Spokane