Posted on 11/06/2008 1:23:09 PM PST by Sub-Driver
Pelosi Favors Two-Step Stimulus, Seeks Permanent Tax Cut in 2009 By GREG HITT
WASHINGTON -- House Speaker Nancy Pelosi told the Wall Street Journal that she is considering a two-staged effort to boost the shaky U.S. economy, arguing for action now on a stimulus package of $60 billion to $100 billion, followed early next year by a companion measure that would include a "permanent tax cut."
In an interview Thursday morning, the California Democrat pointed to weakness in the nation's jobs market, and urged the White House, long skeptical of Democratic-led stimulus efforts, to work with Congress in the waning days of President Bush's term.
"Let's see if we can't do something, working together now, that gives us a two month jump," she said. She said any measure enacted in a lame-duck session of Congress this month would effectively be a downpayment on additional measures enacted later. "We'll take the longer view as soon as we take over in January."
Ms. Pelosi said she doesn't favor a capital gains tax cut, as pushed by congressional Republicans. But she did say the "second piece" of the Democratic stimulus agenda should include a tax cut.
The speaker said she prefers a direct tax cut over tax rebate like the one pushed by President George W. Bush a year ago. The speaker said a direct tax cut can have a more immediate impact on the economy, especially if the government adjusts tax withholding tables to speed dollars into worker paychecks. "The impact is faster than a rebate, which takes a few months to get into people's hands," she said in the interview.
(Excerpt) Read more at online.wsj.com ...
Never make a deal with the devil, always turns out poorly.
When pigs fly
Considering the source of the statements, I don’t believe it...
I call BS. No way any of the socialists are going to cut taxes.
don’t believe it Please.
We now live in bizarro world. We’ve spent the last 5 or 6 years listening to the looney left demanding that we roll back the Bush tax cuts. WTF???
She has to let capitalism work for a little before switching to socialism.
Why not just extend the Bush tax cuts?????? There’s a catch her somewhere. These are Democrats after all.
Morgan Stanley, which is also getting $10 billion from our government, is doling out $6.44 billion in bonuses or $138,700 per employee, even though its profits tumbled 41% and its shares are off by 69%. And even the failures at Lehman Brothers are collectively getting over $1 billion in bonuses.
NEW YORK, Nov 6 (Reuters) - Merrill Lynch & Co (MER.N: Quote, Profile, Research, Stock Buzz) Chief Executive John Thain may receive a $5.22 million award if Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) completes its purchase of the Wall Street bank and brokerage by Dec. 31 as planned.
The sum, known as a change-of-control award, reflects the cash value of stock-based awards that would vest automatically when the merger closes, Bank of America said. Merrill Chief Financial Officer Nelson Chai would get a $1.17 million award, the bank said.
Bank of America disclosed the awards this week in a U.S. Securities and Exchange Commission filing. It disclosed awards of slightly different sums in two separate filings last month.
Translation: Tax increases on whatever demographic that will not lose them votes to pay for welfare checks to indolent scum.
In other words, she’ll gladly pay us tomorrow for a two-step stimulus package today.
I guess it means that deep down all liberals know that supply and demand is what it’s all about.
Wealth only comes by enterprise; people spending their own money.
But it takes this downturn to flush ‘em out - and they will revert to type when the downturn is over and live in fantasy land forevermore.
“’Scuse me Ma’am, but there’s a new sheriff in town...”
It looks like we won after all?
But are they going to pull a bait and switch by letting the Bush tax cuts expire and then give us tax cuts that are smaller?
This is an attempt to bring “us” 55 million voters in.
The catch is that, after looking at the budget real hard for a solid 5 minutes, the Lord Messiah Barack Obama will conclude that we can’t afford tax cuts after all. The stimulus welfare check is all we’ll see.
1993 Redux.
Yeah, she’ll cut taxes for gays. Or, maybe some other underprivileged group.
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