This may stimulate some other nation's economy, but not ours.
Not only is that useless, it's insulting.
How much would it “cost” to eliminate personal income tax and payroll taxes for one year?
Compare that cost to the trillion or so they want to just print up.
I’m skeptical of the doom and gloom of this article.
Though I’d rather see a cut in the capital gains tax, I’ll take any kind of tax cut any kind of way.
Oh, perfect! He just confirmed my worst fears...he has no clue what he's doing. "Temporary" tax cuts do nothing to alter consumer expectations about their ability to purchase goods and services in the future. Such cuts to nothing to alter the disposable income consumers have to buy goods and services in the future. Yet, it is sustained increases in disposable income that enable consumers to qualify for home and auto loans, secure financing for their kids' education, and plan for retirement.
What's needed are tax cuts for consumers and business. I would also make significant cuts at the higher tax brackets, since these people are the ones who drive the economic system. When I ask the question: What's a rich person done for the system compared to what a poor person has done, the correct answer is the rich person does significantly more to help everyone than a poor person does. Screw being politically correct...poor people don't create employment opportunities by creating new businesses. Liberals romanticize the poor and Obama's tax cuts are a continuation of this misdirected thinking. If you want to end this recession, quit demonizing business and give them a reason to set up shop in the US again, rather than pushing them out like you have since Reagan left office.
Wake up Obama. Take an Econ 101 course with your political blinders off and do what's right for the country, not your political future.
Tax cut????
I thought the libs ran on a tax hike. Why don’t they raise the taxes? I thought that the best economic years were when libs raised the taxes the highest.
Now I’m confused
We are headed for the cliff with the pedal to the medal, pure insanity to think this has any chance of even helping the economy let alone fix it.
But, maybe that's the plan.
Good common sense discussion of economic situation:
marketwatch.com
Click on “No recovery this year, Battaglia says”
The middle class will save the money or use it to pay off debt. The lower class will spend it at Walmart. Look where people bought winter clothes this year. The department stores are going broke while Walmart had an increase over last years 4th quarter sales. Not as big an increase as they expected, but an increase never the less.
Try looking at the goods in Walmart for where they are made. This cut will put people to work.. Unfortunately they will be Chinese, Japanese, Vietnamese, and Mexicans.
If I pay their SS and medicare tax through these tax credits can I get their benefits?? Or do they get my benefits too?
My biggest problem with SS is the middle class sees it as a pension. Many republicans use the delusional phrase “but I paid in....” . It is so annoying when republicans claim they “paid in” as if they checked a box on their income tax form for “Yes, I want to contribute to SS”. This is democrats greatest victory. You never “paid into” anything, taxes are taken from us by force if necessary. The feds are taking my (FDIC taxpayers) money and giving some to you (SS beneficiary)and spending the rest. Your money was “taken away from you and given away and spent many years ago”. It is a welfare scheme that is setup to convince the recipient they they earned it, even if they paid little or no federal taxes (Tax rebates anyone??). That way they will demand it. Democrats love it, it is their biggest victory having the middle class addicted to a welfare type redistribution system. They actually call it a federal mandatory insurance system, not a pension. You are insured against having NO income at retirement if you have met some minor work history requirements. It is also expanded to the disabled (as a disability payment) and to minor dependent survivors. Like Medicare, it is very popular with those that get it......MORE AT “
The government does not have a pool of cash to draw from. The government only has two sources of funds; they can either borrow money by printing it or they can collect tax money.
Is it efficient for Congress to collect taxes they say they intend to return? Perhaps allowing the people to keep what they would have paid in taxes for a few weeks instead of collecting it first is a more efficient way to stimulate the economy.
Is it wise to allow members of Congress to get their woefully corrupted and greedy hands on the money before returning it to the people?
Fly B-52’s over the country dropping $100 bills. It would be cheaper. And, Bambi has no need for B-52’s anyway now that everyone in the world loves us.
Of course, they would probably need an F-22 escort to protect them from gang hijackings.
I'll take the $500 and buy some more ammo with it.
Good old big caliber, Made-In-The-USA brass case, re-loadable.
None of that Commie Bloc steel case, dirty powder surplus.
Only a few years ago the same amount of ammo cost about $100.
After THE OBAMA COLLAPSE it'll be $25 a round, but there won't be any for sale.
Well, I have to laugh. I think the drones that voted for this fraud thought their house amd gas payments were going to paid for by the messiah?
*snicker*