What we need are massive across the board tax cuts, including sharply reducing corporate taxes, ending inheritance taxes, and removing all capital gains taxes.
What you are suggesting is right but it will never happen with Obama and the Dems in charge.
Thank people like Newt and Dede for this prolonged misery. Plus all the anti-birthers and idiots who voted for the islamo marxist. We may see some improvement by 2013 if we still have a country.
More than that is a simplifcation of taxes so that the structure of the code is straightforward and understandable, to end the diversion of resources towards tax avoidance/wealth preservation strategies and channel them into wealth producing activities operating under consistent and easily understood rules.
Massive tax cuts right now would be fiscally disastrous without taking a meat cleaver to the Federal Budget, including the Department of Defense and the Social Security and Medicare/Medicaid sacred cows. And its funny, but I never hear people really wanting to do that, even here on FR.
Obummer hasn't changed the tax structure (yet) from what we have had over the past 6 years since the 2003 cuts. The economy is ailing not from a superfluity of tax collections, but a lack of investment activity in fixed private investments (houses, cars, appliances, buildings, etc.) and public investments (roads, airports, etc.). This activity is being stymied by disincentives in the code.
Massive stimulous...more...how much money can Obama’s CEO’s, Banksters, Acorn and the Unions possibly spend?