Economic Researcher Discusses Debt, Taxes With Elk Grove Tea Party

September 15, 2013 |

At the monthly meeting of the Elk Grove Tea Party, members heard a presentation from an independent research institute representative discussing two topics at the core of the club concerns - government debt and taxes.

Speaking to an audience of close to three dozen people, Mary L. G. Theroux of the Independent Research Institute discussed various ideas and studies formulated and disseminated to the club members last Tuesday night in Elk Grove. The non-partisan Oakland-based group researches a variety of economic issues from a free market libertarian perspective.

Mary L. G. Theroux discussing economic issues with Tea Party members.

Theroux said her group has performed several studies focusing on the effects of taxes, deficit spending and the upcoming implementation of the Affordable Heathcare Act, more commonly known as Obama Care. Theroux stressed that prior to publication of their studies, many of which she characterized as provocative, they undergo peer review for validation of methodology.

While the Republican Tea Party Senators and Members of Congress have been focusing their efforts in Washington DC on defunding Obama Care, Theroux spent most of her presentations on the long term effects of the deficit and taxes.

"We have gotten into our current mess mostly because of Keynesian "[economic theory] Theroux said. "Which is the idea that government can spend us into prosperity."

Theroux also characterized President Obama's 2009 stimulus program and the Trouble Asset Relief Program as pure Keynesian.

"The more likely case is that when the government takes a dollar out, it is money the private sector doesn't have to invest," she asserted.

During a question and answer session, Theroux fielded questions on issues ranging from free school lunches for students to how the government could wind-down Social Security and Medicare programs.

"The government has gazillions of dollars worth of assets," she said. "If they just sold-off mineral rights, they settle everything they owe, and you could take that money and put it in an investment account and live off that in retirement."

Theroux also urged the audience to use the information from the institute studies in their discussions on taxes and government debt.

"So when you talk to people, they will understand there is no such thing as a free lunch," she said.

The Elk Grove Tea Party meets on the first Tuesday of every month at the Elk Grove Holiday Inn Express at 9175 West Stockton Blvd from 7 to 9 p.m.