Stimulus Bill Supported by Economists

[Bern80]

i used the smallest words i could to help you understand.
you're welcome.

Thank you. You're so kind.

When the recovery bill has succeeded in starting US back on a recovery, I will be a sarcastic smartass like you and use smal wrds also. But I am glad thay you know more than the 300 plus economists.

Hate to hurt your feelings, but the right doesn't have all the answers either, they just think they do.

If you think these 300+ plus economists you have cited are saying they agree with Obama's plan you need to re-read the letter.

 

[rayboyusmc]

I don't think I said it was.

Tax cuts alone are not the answer.

 

[Skull Pilot]

So how will these tax cuts creat jobs?

If I don't have a job, what good is a tax cut?

the tax cuts don't "create' jobs

the tax cuts give the public more money to use as they see fit. The exchange of this money in the economy will create jobs in areas the people care to spend their money.

the type of jobs resulting from this kind of spending will be more sustainable than those of a temporary government contract to insulate a few houses.

Something like $360,000,000,000 of this proposed package IS tax cuts, folks.

It is money that we aren't borrowing immediately, but instead will have to borrow when those revenues aren't forthcoming because of the tax cuts.

with no commensurate cuts in spending. which is why the plan is ultimately doomed.

and a one time rebate does not a tax cut make if the tax rates stay the same in subsequent years

 

[KGB]

So how will these tax cuts creat jobs?

If I don't have a job, what good is a tax cut?

if you don't have a job, you aren't paying taxes to begin with....tax cuts work because they put the money in the hands of the consumer who spends it & generates profit for a business. If I am business owner & I receive the same tax cut (corporate tax), I will hire more individuals instead of putting the money back in the hands of government. Given that the US corporate tax rate is highest in the world, it shouldn't come as a shock that a lot of companies are closing US locations & heading overseas....

This is how tax cuts result in job creation....more people have money, more companies have incentive to stay in the US to provide jobs & the cycle feeds on itself....

 

[Meister]

6 of these, a half dozen of the others.

No one really fucking knows because we haven't faced anything like this in our time..

WASHINGTON — The $825 billion stimulus proposal that Democrats unveiled last week may encounter stiff opposition from conservatives on Capitol Hill. But it isn't meeting significant resistance from conservative economists.

While economists might quibble with specifics, the vast majority agree that some kind of massive government spending plan is necessary.

"Most conservative economists are all for it," said Mark Zandi, a founder of Moody's Economy.com who advised GOP presidential candidate John McCain.

The reason is fairly straightforward. With economic uncertainty higher than at any time since the Great Depression, consumers and businesses are more reluctant to resume spending than in previous downturns.....

Republican lawmakers are uncomfortable with government spending programs, usually preferring tax cuts. But so far, Republicans have not demanded new tax cuts. One reason is that while permanent tax cuts can foster long-term growth, in the short term most economists agree they create less economic demand than direct government spending.

Economists explain the debate this way: When the government spends $1 to buy an item or a service, economic output (or gross domestic product) automatically goes up by $1. And then it goes up a bit more, because whoever gets that $1 spends at least part of it buying supplies or paying workers, who in turn use it to buy food, gas or medical care. So $1 of direct government spending becomes roughly $1.57 of GDP, according to projections by economic advisers to President-elect Barack Obama.

Conservative economists back stimulus plan -- chicagotribune.com

Ray we have faced tough times like this under the Carter Administration. Next, have you heard about "The Lost 10 Years" in Japan? They tripled the national deficit trying to spend their way out of a recession, just the same way we are going to do. It didn't work. Next, tax cuts did work for 6 years under the Bush Administration, the economy was fine. It was the last two years with the mortgage industry that sent things flying south, and it's what started the snowball effect. I do hope this enlightens you somewhat.

 

[rayboyusmc]

Thanks for straightening me out.

Krugman and all the rest are just dumb and the tax cut people rule.

We aren't Japan and the Carter times were not this bad.

 

[Meister]

Thanks for straightening me out.

Krugman and all the rest are just dumb and the tax cut people rule.

We aren't Japan and the Carter times were not this bad.

Carter times not as bad!!! You are an idiot. Look at unemployment, look at inflation, and look at the interest rates. What a dumb ass.
We can learn from what the Japan did, it's pretty much the same problem as what we have now. Dang dude, you are really dense.
There are a lot more economists that believe the stimulus bill is a train wreck, than think this will be the savior. What this bill will do is open up an inflation floodgate.
Tax cuts for people, puts more money in their pockets...to spend on the economy. Ray, you need to drink the Kool-Aid...it's time.