Posted on 09/11/2007 7:41:54 AM PDT by NaturalGorilla
Former Department of Labor Secretary during the Clinton Administration and and current University of California at Berkeley Public Policy professor, Robert Reich, is calling for a tax cut:
With the economy heading for recession, all eyes are on Ben Bernanke and the Fed, and the question everyone is asking is how much the Fed will cut short-term interest rates to stimulate the economy. But a Fed rate cut won't stimulate the economy. That's because lending institutions, fearing their portfolios are far riskier than they assumed several months ago, won't lend lots more just because the Fed lowers interest rates...So if a Fed rate cut can't prevent a recession, what can? Putting more money into American pockets by cutting their taxes...I say exempt the first $15,000 of earnings from payroll taxes for a year, starting as soon as possible...
(Excerpt) Read more at economicsbriefing.com ...
This is like Bill Clinton calling for celibacy.
Are they making snowmen in hell?
Exempting the first $15,000 from PAYROLL taxes without an accompanying exemption from income taxes and/or income tax rate cut will only result in taxpayers having a higher tax-hit in April.
I am all for taxcuts, but who is paying taxes on their first $15k? Is he talking Social Secuirty taxes? That would be a disaster to a program already headed towards bankruptcy. A tax cut needs to be targeted to people who actually pay taxes.
Looks like he’s mad because Hillary is bypassing him.
That’s not the way to get into her good graces, Robert.
Why am I not surprised? Reich is an orthodox Keynesian, who supports “stimulation” and deficit spending in times of depression/recession, with retraction under a growing economy (ie higher consumption taxes).
Nope, he is simply advocating Keynesian demand side economics to increase the consumer spending portion of the aggregate demand curve.
And no, Dick Nixon, we are NOT all Keynesians now.
You know, I think I’m losing my mind. I swear, but it seems that Bobby Reich wants the Congress to CUT taxes?
Anyone got any Visine?
WOW, I just saw a pig fly by my window!.....................or was it HRC going after some Chinese cash?...........
Help me - my heart stopped
The munchkin and mental midget calling for tax cuts????????????
.
Look out Bob...you will end up as a Clinton victim if you hang with those supply side thoughts.
“holy cow did he suddenly learn Reagonomics and understand it?”
I sense it’s a trojan horse. Note how he is calling for tax cut for a short period of time for the proposed purpose of forestalling recession. This is step one. Step two will be to call for significant tax increases on marginal rates when the recession does not materialize and growth returns to recent robust rates. No way would this socialist little skank ever opt to take power from government and give it to the people, except strategically to achieve the opposite.
Also, note how he is calling for a freeze on FICA taxes, not marginal rates. Ironically, we are constantly told that social security is never on the table for rate cuts becuase its just too dang socially important.
What the hell is it about failed “public servants”, who accomplished NOTHING of note during their reign — feel compelled to give advice to those who are already doing much better?
Carter, Clinton, Kerry, Kennedy and that minor midget Reich fall into that category.....
The silly little bastard STILL hasn’t ever held down a real job - he’s back on the public teat as a Berkeley “professor”, filling kids head with bullsquat.
“I am all for taxcuts, but who is paying taxes on their first $15k? Is he talking Social Secuirty taxes? That would be a disaster to a program already headed towards bankruptcy. A tax cut needs to be targeted to people who actually pay taxes.”
If he exempted the first $50,000.00 of income from fed income taxes...he might be on to something. Other than that...it’s all smoke and mirrors.
re: post #17
You know....you read my mind. I was going to post nearly the same thing but I was not 100% sure this was the same guy. I guess he is....LOL.
How about we just throw the communist inspired income tax onto the ash heap of history where it belongs!
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