Tax hikes will only hurt economy more

Nothing the administration has done so far has worked. They have spent a lot of money with results that are questionable at best.

Banks are still not lending. Jobs created are temporary at best and not worth the money spent per job at worst. The housing market is about to get worse and commercial properties are near default.

Their answer is to spend more. The results will be the same only to worsen as they run out of money. If things weren't bad enough they want to raise taxes and create some new ones. New taxes may include value added or consumption taxes. That means a higher price on anything we buy.

Aren't we taxed enough? How much sense does this make? Americans are already financially strapped. How would these new taxes help the poor? The people who still have a job will have less money and be unwilling to spend. None of this makes any sense. At this time there is no trickle down or trickle up economics. It doesn't trickle anywhere.

The economy is constipated and needs an enema. The way to do that is eliminate unnecessary regulations, eliminate the current income tax and establish a flat tax, eliminate all congressional perks and their outrageous retirement packages.

All of the politicians that were responsible for getting us into this predicament should be held financially responsible and some should get jail time for abdicating their fiduciary duties.

Wayne Oras Sr.

Schaumburg