Extend the tax cuts until the end of fiscal 2011

Discussion in 'Economy' started by Paulie, Sep 13, 2010.

  1. Paulie
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    Paulie Platinum Member

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    Now is the perfect time to see if tax cuts can help stimulate the economy.

    Businesses right now are expecting to lose the benefit. That may or may not be contributing to the continual lack of hiring. But it's definitely a decent assumption that it is.

    Let's keep the cuts extended for another year, with an open end to further extend if jobs and growth are a result. If specific benchmarks are not reached, then expire them.

    It will either incentivize businesses to hire, or it won't and they will lose the tax break after next year. Their loss.

    If the economy is really just a state of mind, then we need to stimulate the minds and get money moving again. It's not like the money isn't there. It's just sitting stagnant because of uncertainty about the future.

    I personally think creating more expense for ANYONE right now is a horrible idea. You can hate the rich all you want, or even the mildly sucessful, but the fact remains that they are the ones providing jobs.
     
  2. william the wie
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    william the wie Gold Member

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    It's more regulatory uncertainty than tax uncertainty that is causing most of the problem but I do support your position.
     
  3. Baruch Menachem
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    Baruch Menachem '

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    A one year tax cut won't stimulate. I wrote about this in another thread. Since it expires in a year, people budget for its demise. It might actually be worse, as it will cause folks to budget harder and spend less.

    A permanent tax cut would work wonders. But temp measures never work.
     
  4. william the wie
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    william the wie Gold Member

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    Well anything that sounds less like building socialism in our time would help.
     
  5. Paulie
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    Paulie Platinum Member

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    But if you read the OP, I mentioned it was open ended. It can be extended if bench marks are reached on job creation and growth.

    It would leave it in the hands of America's businesses to either add jobs and continue their tax break, or don't add jobs and face the expiration of it.
     
  6. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    The problem is that tax cuts alone won't do it. Spending needs to be reduced, and inane regulations like ObamaCare and the Financial Reform Bill need to be undone.
     
  7. Paulie
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    Paulie Platinum Member

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    I agree about spending and regulation.

    But let's be reasonable here.

    Congress isn't going to agree to drastically cut spending, taxes, and regulation all at once overnight.

    Right now the issue of the tax cuts expiring is on the table. I'm trying to come to a compromise with the liberals on it.

    Let's see how well the tax cuts can spur growth while we're teetering back and forth with this recession.

    All of us conservatives can agree that it's a horrible idea to increase ANYONE'S expenses right now.
     
    Last edited: Sep 14, 2010
  8. Baruch Menachem
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    Baruch Menachem '

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    Extending the tax cuts because that is the right thing is a good deal, but using them as stimulus is counter productive.
     
  9. JakeStarkey
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    JakeStarkey Diamond Member Supporting Member

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    Boedicca is right in that spending needs to be reduced, as well as tight economic and health care regulations enforced to reduce economic risk from the bad guys in business, and as well as permanent extension of the middle-class tax cut while the richest 2% get treated as they deserve.
     
  10. Mr. Shaman
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    Mr. Shaman Senior Member

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    7 years....already....hasn't done the job, WHY?? :eusa_eh:

    What's another year supposed to get us?? :eusa_eh:

    They WERE reached..... ​

    .....And, it ISN'T sitting stagnant in any MIDDLE-CLASS BANK-ACCOUNTS!!!!

    :mad:
     

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