Gov. Walker backs down on tax cuts

Wisconsin governor Scott Walker looks to be backing down on the massive tax cuts he wants to give big business:

Walker’s spokesman, Cullen Werwie, wrote in an e-mail Saturday that Walker wouldn’t publicly comment on the negotiations but was focused on balancing the budget and following through on his campaign pledge to create 250,000 new jobs. Walker has said he wouldn’t compromise on the collective bargaining issue or anything that saves the state money.

I can only presume by that final line that he isn’t going to waste everyone’s time by letting unneedy people hoard money.

Here are some facts

  • The Obama Administration has put in some excellent policies, including age restrictions on credit cards and cutting out the middle man in loans (this second one brings some amusement with it: conservatives claim to hate the government interfering with the private sector, but they don’t seem to realize that the only reason this part of the private sector could thrive was because of government backing. They should approve of this move – except they blindly hate Obama).
  • The second bailout was the right move. It prevented a collapse of the credit markets from the Bush recession.
  • Many of the businesses that got bailouts are paying back that money.
  • McCain would have just followed the Republicans (as has been his thing over the past few purely political, dishonest years of his life) and slashed social programs all over the place; people would lose homes, only making things worse.
  • Tax cuts alone don’t create jobs. They do, however, increase debt.