Tax cuts don't work,just a political gimmick by Democrats and Republicans.

Discussion in 'Economy' started by 52ndStreet, Feb 14, 2009.

  1. 52ndStreet
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    52ndStreet VIP Member

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    The current Tax cut plan that President Barack Obama has put forward, in his current economic stimulus plan will put only $8.00 to $14.00 dollars of cash in Americans pocket
    per paycheck. $8.00 to $14.00 dollars!!.

    I tell you people, Tax cuts are nothing more than political gimmicks. What would really stimulate the economy , would be a direct Stimulus check payment to each and every American of $5,000.00 dollars cash. This money would be spent, and not saved, as many
    say about stimulus payments.
     
  2. Ravi
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    Ravi Diamond Member

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    I agree about the tax cuts, but apparently it is the only way the senate was able to get three republicans to vote for the stimulus bill.
     
  3. 52ndStreet
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    52ndStreet VIP Member

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    I still don't know how Americans allow politicians to con them into voting for them,
    with this bull crap Tax cut plan. Direct stimulus payments is what Americans need now!!
     
  4. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    We need significant tax cuts, along with significant spending cuts.
     
  5. mash107
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    mash107 Active Member

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    I disagree with everything you had said. Savings is needed, not spending. Blowing money on cars and luxuries is not something a broke nation can do anymore. You wouldn't remodel your kitchen when broke, why do you think a nation can consume anymore? Savings is the necessary vehicle for capital investments for job creation, loans, etc... where else would a bank get money that has value and isn't conjured up out of nothing?

    Tax cuts do work, only if spending cuts are made. Bush II was horrible for the economy only because he had increased spending more than any other U.S. president since FDR, at least. And now Obama seems to be intent on one upping Bush II on being even more horrible for the economy. Case in point: a "stimulus package" that costs $787 billion and hopes to create or save 3.5 million jobs means that it will cost the taxpayer $225k for each job created. The reality is leaving $787 billion to be saved and invested in the economy would have created a lot more jobs than Obama/Bush can ever hope to create.
     
  6. GHook93
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    GHook93 Aristotle

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    No what is needed is a tax reform to the Fair Tax. Get rid of the corporation diverting corporate tax. Get rid of the small business killing income tax and payroll tax. Put more money in to people's pockets and give the Corporations a true advantage of coming and remaining stateside vs taking advantage of the low wages overseas, will create and keep jobs stateside, while allowing America to stay away from protectionism and actually turn fair trade agreements to our advantage.

    Please don't comment on the fair tax until you read about it. The best way to get a full grasp of its greatness is the FAQ - Americans For Fair Taxation: Frequently Asked Questions
     
  7. Zoomie1980
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    Zoomie1980 Senior Member

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    Nonsense. Neither will really work. The big individual check is a one time shot. Even at $5,000 most have no confidence in anything long term, so no, they would spend, even that.

    Americans, as well as the whole globe are in a retraction spirit right now. Paying off debt is going to be the focus of the public no matter how much artificial, make-believe money governments throw out there.
     
  8. Neubarth
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    Neubarth At the Ballpark July 30th

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    it would not be prudent to cut spending right now. Spending results in job creation or maintenance. We do not need to kill any more jobs.
     

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