Posted on 10/25/2009 8:19:38 AM PDT by Son House
Last week Democrat held a Economic Forum behind closed doors. The Economist came out and held a news conference providing evidence to the discussion, it is linked at the bottom here for the full text.
Robert Kuttner
"you need to think about reduction of debt relative to the GDP as a 10-year project and in order to get the economy back on track, we may well need, we do need, more deficit spending now and in the next year but with a pre commitment to deficit reduction over 10 years through progressive taxation,
one of the things we seem to agree on is a financial transactions tax, taxes aimed at the people who are still making out in this crisis so that the benefit can go to ordinary people and we don’t have to sacrifice the recovery on the long term/short term deficit reduction."
^
A tax on IRA's and 401k's
Robert Kuttner
"I think just about everyone in the room feels there needs to be more stimulus, and not after the State of the Union Address, but very soon because otherwise, you end up with a jobless recovery for years to come."
^
This is why all that Small Business talk. Everything in that new bill better be for all business, or obviously, it's too little to late, as it is now. Medium and Big Business are great customers for Small business and Jobs. Small business owners also file taxes as individuals, will that be address or just taxed?
Heather Boushey
“One of the key problems facing the country right now is the massive unemployment and not only are so many folks unemployed but so many folks who have lost their jobs are unable to get back in the workforce.”
^
Unable to get back in the work force? Thanks 111th United States Congress, who worked so hard to convince us their Stimulus bill would provide Jobs!
Boehner on the Dems' Economic Forum: Where Are the Jobs?
http://www.earnedmedia.org/jboe1021.htm
"American small businesses and families continue to struggle and they continue to ask the question, 'where are the jobs?' As you've heard, Speaker Pelosi is convening a panel of economists -- the same economists who gave them advice on their stimulus bill.
Maybe they'll actually look at what's happened and realize that it hasn't worked because American families are still asking, 'where are the jobs?
"This problem that we have is being exacerbated by the Democrat Majority. Put yourself in the shoes of a small business person. They're looking at a national energy tax being proposed by the Democrats. They're looking at this government takeover of health care that's going to tax small employers who don't provide health care for their employees -- that many of them can't afford to.
And, there's no real clear vision about they are going to do in terms of raising taxes. Yes, there's this major tax increase in their health care bill.
But how about the 15 percent capital gains rate that is supposed to go to 20 next year? How about the top rate that is expected to go up three and a half points next year? How about the tax on dividends that's going up next year?
“So a couple of the key themes that there was a lot of consensus on was extending unemployment insurance, making sure benefits don’t run out at the end of the year, and also making sure that those folks who are unemployed have access to health care..”
^
Unemployment Insurance to be extended till "the end of the year, Dec 2010?
Everyone has access to healthcare, including the emergency room, so it's really about Health Insurance being added to their new and improved Stimulus bill.
Heather Boushey
“A couple of other things, thinking about the long-term unemployed and folks who just can’t get jobs right now, need to do more about job training, start thinking about public service.”
^
Think about Public Service? Public Service in an Economic Stimulus bill? Strange, is that ideology driven?
And now the Economist let something slip that should have been all over the media
Former Federal Reserve Vice Chairman Alan Blinder
"despite the fact that we’re looking at an absolutely horrendous long-term fiscal outlook,"
hor·ren·dous (hô-rnds, h-) adj. Hideous; dreadful:
Adj. 1. horrendous - causing fear or dread or terror; "the awful war"; "an awful risk"; "dire news"; "a career or vengeance so direful that London was shocked"; "the dread presence of the headmaster"; "polio is no longer the dreaded disease it once was"; "a dreadful storm"; "a fearful howling"; "horrendous explosions shook the city"; "a terrible curse"
http://www.reuters.com/news/video?videoId=113456&newsChannel=newsOne
Blinder: US economy "pretty bad"
(03:33) Rough Cut
Oct. 21 - Princeton economist and former Federal Reserve vice chairman Alan Blinder said the GDP is growing, but jobs are "still shrinking and are likely to shrink for a while yet."
Speaking to reporters after participating in an economic forum with lawmakers at the U.S. Capitol, Blinder said that "despite the fact that we are looking at an absolutely horrendous long-term fiscal outlook," he advocates at least a modest increase in the deficit, targeted on the creation of jobs.
Won't happen until at least 2010.
Yep, think I mentioned to you before House Democrats are probably only going to get this done if they rid themselves of Pelosi as Speaker, and prepare to over-ride the expected Presidential Veto
Raising taxes is EXACTLY the opposite of what needs to be done with an economy slipping into a Depression.
Leave it to the government to get it wrong once again!
tax my 401k?
whatever. talk about revolt!
Robert Kuttner
“one of the things we seem to agree on is a financial transactions tax, taxes aimed at the people who are still making out in this crisis so that the benefit can go to ordinary people”
^
It’s an indirect way of taxing a 401k, they tax the transaction by a broker trading, you know those evil Capitalist on Wall Street?
Just ONE more drink, before I dry out...
Insanity. If this is the Democrat Policy heading into the next two election cycles the GOP doesn't need to do anything, and that's not good.
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