New York Wants More Spending

Discussion in 'Current Events' started by KMAN, Dec 30, 2008.

  1. KMAN
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    KMAN Senior Member

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  2. RodISHI
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    RodISHI Gold Member

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    I met a couple ten years ago from New York. Over the winter in Florida we got to know one another fairly well. They told me the taxes on their home was ten thousand dollars a year. I said wow you must have a castle. They said their house was 1300 sq ft. Then they showed me a picture of their older ranch style home. It floored me. I could not imagine paying ten grand a year on a average small ranch style home for just the taxes alone.
     
  3. xsited1
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    xsited1 Agent P

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    Governor David Paterson wins:

    [​IMG]
     
  4. DavidS
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    DavidS Anti-Tea Party Member

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    Or if you spend more money now and stimulate the economy, more people will move into higher tax brackets and you'll get more tax revenue. It's kind of a weird version of the trickle down effect, or Reaganomics, except instead of stimulating the upper class, you're stimulating the middle class, the people who have the most purchasing power.

    For instance, if everyone was given a $750 check from the government Nov 28, retail sales would've been much better this year than they were. Corporations would've done better and hired more people to take the onslaught of consumers doing more holiday shopping and it would've been a great holiday season. State and local governments would've made bank on sales tax revenues, stockholders would've gotten a bang for their retail store stocks and the stimulation would've spread all around. Such as people who are going christmas shopping with their $750 check decide to stop off at a restaurant. They leave the waitor a nice tip and the waitor goes out and spends the money he got from his tip on a new pair of shoes. The shoe store is able to order more supplies from the manufacturer and it goes on and on and on. This is the trickle down theory, except rich people horde and save their money and middle class people spend their money.

    Instead, the government didn't pass a stimulus package to the American people and 2008 is probably the worst year, economically, since 1931. Stores will go into bankruptcy, unemployment will rise and state governments will fail. Good idea, KMAN, let's not spend a dime on helping the American economy.
     
  5. WillowTree
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    WillowTree Diamond Member

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    Right,,, keep borrowing money to hand out "hand over fist" and all you are going to stimulate is the interest on said loan. Jeez it is not that hard. Our economy will only be healthy when we the people and we the government learn to live within our means. Don't have 5 grand to spend on a plasma TV? don't frickin buy a plasma TV. Don't have 5 billion to pass out to yer constituents in hopes they will love you? Don't borrow 5 Billion. You are an idiot if you do.
     
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  6. maneal
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    maneal Conservative Commentator

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    See.... taxing more to make more has never worked, because instead of decreasing spending, they spend more. So we are in the same prediciment before they raised taxes. In theory, that might be a good plan, but Reaganomics was far from "taxing the hell out of people," as you so aptly proposed.

    It seems that every time the US lowers taxes, people have more money to spend, and people will spend it. The American Taxpayer is better at spending their own money than the government is. In 2006 and 2007, when taxes were obviously low and the economy was stronger than it is today, government quarterly revenues were much higher than when taxes were higher. Why? Because people will spend less money if they have less money. They will spend more money if they have more money. This government is the biggest detriment to our economy right now.

    Even in this economic downturn, Democratic Leadership and the not-so-fiscal President Bush continue to make things worse. Instead of letting the markets and companies (aka free market) correct themselves, the government continues to prop up companies with our money. They are mis-spending our money. Just as always...
     
  7. Bern80
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    Bern80 Gold Member

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    Yes because that $600 dollars everyone got stimulated the economy sooooo much. Stimulating the economy based on stimulus assumes that if people get money they are going to turn around and spend it and right now that is not neccessarily true. Apparently a few people at least have grown brains and decided maybe just saving it isn't such a dumb idea. $600 dollars is a drop in the bucket for most people and certainly would not have lead to some onslaught of consumer spending over the holidays.
     
  8. KMAN
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    KMAN Senior Member

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    You are assuming these people take their $750 and spend it... I would be putting my check in the bank.
     
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  9. WillowTree
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    WillowTree Diamond Member

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    put it in the coffee can! :eusa_angel:
     
  10. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Which one? Since most may fail, I suggest putting it in a can and burying it in the back yard. Or buying some gold with it for when paper money is worthless.
     

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