Obama and the Payroll Tax Holiday

Discussion in 'Politics' started by DontBeStupid, Jun 29, 2011.

  1. DontBeStupid
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    DontBeStupid Look it up!

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    Obama: Congress should extend payroll tax cut - The Denver Post

    Hi. I'm a liberal person. I voted for Obama and think he's been doing a good job.

    I am 100% against his idea of extending the payroll tax holiday.

    discuss
     
  2. The Rabbi
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    The Rabbi Diamond Member

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    OK so you're not a total idiot. I was wrong.
    Temporary "tax cuts" like this do nothing to change the incentive to work and invest. Thus they do not stimulate anything except deficits.
    All of Obama's "tax cuts' have been of this type: 1 year moratorium on this, 2 year credit on that. Businesses do not plan for 1 or 2 years. They invest for 10-20 years. His "tax cuts" are a waste.
     
  3. DontBeStupid
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    DontBeStupid Look it up!

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    Apology accepted.

    These kind of short tax cuts are really weak Keynesian stimulus, but I think Obama wants them because he thinks it's the only thing he can get from the GOP. It's sad really. On many counts.
     
  4. The Rabbi
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    The Rabbi Diamond Member

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    No, he wants them because they will score better with the CBO being short term and he can't offend his liberal base, which always wants higher taxes.
     

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