When Asked What, Besides Tax Cuts, Would Help The Economy, Pence Says Tax Cuts

[Modbert]

Think Progress When Asked What, Besides Tax Cuts, Would Help The Economy, Pence Says Tax Cuts

Polly want a tax cut?

But beyond that, Pence, like the rest of his GOP colleagues, didn’t offer any ideas of his own that would help the ailing economy. When host Greta Van Susteren asked what, besides tax cuts, he would do to turn the economy around, Pence at first dodged, but then said tax cuts for the rich would be the way to go:

VAN SUSTEREN: What — besides the sort of the usual — the — you know, the tax program, extending the Bush tax cuts that I know the Republican Party want, what is it that you could do to turn it around?

PENCE: Yes, look, the enemy of our prosperity is uncertainty. … the greatest uncertainty right now is — and you just heard — you heard the Vice President again kind of defend it in passing, their tax cuts — their tax increases on the rich — is this administration actually thinks that it would be a good idea to allow a tax increase on job creators on January 1st, 2011. You know, higher taxes never got anybody hired.

Video after the jump. I know it's ThinkProgress, but I figure it's mighty difficult to argue with a video, especially one from Fox News as their source for this.

As for the content itself, Pence and his fellow Republicans seem to have no other ideas to turn around this economy other than tax cuts and slogans that have no real power other than to sound good.

 

[DiamondDave]

Because increased taxation helps a private economy how??

I don't personally think we need tax cuts.. I think we need spending cuts and I think we need to raise taxes on those not paying any income taxes and those paying a lesser rate to the same rate as the top rate.... funny thing is that then I bet you would see people really supporting a tax cut

 

[Mr. Peepers]

Because increased taxation helps a private economy how??

AND the useless tax cuts for the rich helped our private economy how???

 

[johnrocks]

Why the same old GOP leadership irritates me. How about things like less government intervention, a more stable policy that won't have industry wondering about what's around the corner and afraid to hire or produce out of fear a new law is going to be passed that screws the pooch?

 

[DiamondDave]

Because increased taxation helps a private economy how??

AND the useless tax cuts for the rich helped our private economy how???

Hmm... quite conveniently you leave off that tax cuts were not just for the 'rich'

And more monies in the hands of the economy and consumers drives the economy... taking more monies away in taxation leaves less in the private economy... hence tax 'cuts' (or lower taxation) is better for a private economy than increasing taxation... did you take even the most basic of classes on economics??

 

[Mr. Peepers]

Hmm... quite conveniently you leave off that tax cuts were not just for the 'rich'

Really, you're going to pick at the sand with that straw? Who got the biggest wet kiss from these tax cuts?

 

[VaYank5150]

Didn't Biden say that the expiration of these Bush tax cuts would only impact 3% of the small businesses in America? So, is the GOP saying that these 3% of the US small businesses are going to save our econmomy?

 

[Mr. Peepers]

And more monies in the hands of the economy and consumers drives the economy... taking more monies away in taxation leaves less in the private economy... hence tax 'cuts' (or lower taxation) is better for a private economy than increasing taxation... did you take even the most basic of classes on economics??

Again, we gave these tax cut to the "investment class" - not to the consumers, or the middle class. How did that help the economy? Oh right, it didn't. Why won't you guys ADMIT this? Just once?

 

[johnrocks]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

 

[Wry Catcher]

Since 1980, with the exception of "read my lips" Bush, tax cuts, wedge issues (guns, gays, god) and hate and fear have been the mainstay of Republican politics. The Progressives in the Demoratic Party are maligned by those on the right who support candidates who are rooted in the past, who have no ideas and so support the failed policies of the past.

 

[onecut39]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

During the Bush regime we had at least two tax cuts and a "prebate". We also saw the wholesale deregulation of the economy, a trend started with Reagan all the way through Bush two.

What did we get? The second worst recession in history.

Why would we want to do more of that?

 

[johnrocks]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

During the Bush regime we had at least two tax cuts and a "prebate". We also saw the wholesale deregulation of the economy, a trend started with Reagan all the way through Bush two.

What did we get? The second worst recession in history.

Why would we want to do more of that?

We also had massive spending to go along with those tax cuts which was foolish, Bush was the biggest regulator since Nixon, go to Regulations.gov and check it out for yourself.


Economic indicators lags and ;imho; hard to access blame or credit to any one person or party, I tend to think BOTH Parties share blame and one of the biggest culprits in the Monetary policy which tends to get overlooked in these partisan slug fests.

 

[DiamondDave]

Hmm... quite conveniently you leave off that tax cuts were not just for the 'rich'

Really, you're going to pick at the sand with that straw? Who got the biggest wet kiss from these tax cuts?

And who was being taxed at the higher rates to begin with?? Who still pays the highest rates? Who still pays the bulk of all income taxes??

As stated.. SO many times... just equal out the rate to be the same on every dollar earned by every citizen... problem solved... then all tax raises and cuts would be the same for all

 

[Wry Catcher]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

Just a thought. With housing prices depressed and with forclosures increasing the possibility of "The Market" redistributing the wealth becomes all too real. Instead of the American dream once realized, Americans will again be renters as the investment class corners the market on residential housing, earning income on rents and saving money on taxes as they depreciate their assets while they allow it to degrade.
What will the banks do with all the property they now 'own'? Unwilling to loan, or willing to loan only to those who have 25-30% down, we may see the large national banks become the 'slum lords' of the future.

 

[blu]

the guy sounds as smart as sarah palin. they don't even need teleprompters b/c they just repeat the same thing over and over. I Bet the guy couldn't even explain on his own terms how tax cuts help or hurt the economy

 

[johnrocks]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

Just a thought. With housing prices depressed and with forclosures increasing the possibility of "The Market" redistributing the wealth becomes all too real. Instead of the American dream once realized, Americans will again be renters as the investment class corners the market on residential housing, earning income on rents and saving money on taxes as they depreciate their assets while they allow it to degrade.
What will the banks do with all the property they now 'own'? Unwilling to loan, or willing to loan only to those who have 25-30% down, we may see the large national banks become the 'slum lords' of the future.

Housing values plummeting is a symptom or result ; not the cause; of what has been wrong for years , a monetary policy of inflating the bubbles, allowing them to fall means that they will be affordable for a new generation of first time home buyers, we need to suffer the ill effects brought about by this market manipulation by government, allow values to fall, burn off the malinvestments and have a stronger economic foundation for all of us, my thoughts on it anyway.

 

[Wry Catcher]

Let everyone keep more of their money, why does it have to be "supply side" or "demand side" economics, can't it be both? Perhaps the lower and middle classes would use that extra money ,spend more,create jobs, perhaps the richer would use that extra money to invest more or even save it which builds wealth for others to borrow and enjoy; a win-win for everyone might be less taxes for all mixed with;of course; less government spending.

Just a thought. With housing prices depressed and with forclosures increasing the possibility of "The Market" redistributing the wealth becomes all too real. Instead of the American dream once realized, Americans will again be renters as the investment class corners the market on residential housing, earning income on rents and saving money on taxes as they depreciate their assets while they allow it to degrade.
What will the banks do with all the property they now 'own'? Unwilling to loan, or willing to loan only to those who have 25-30% down, we may see the large national banks become the 'slum lords' of the future.

Housing values plummeting is a symptom or result ; not the cause; of what has been wrong for years , a monetary policy of inflating the bubbles, allowing them to fall means that they will be affordable for a new generation of first time home buyers, we need to suffer the ill effects brought about by this market manipulation by government, allow values to fall, burn off the malinvestments and have a stronger economic foundation for all of us, my thoughts on it anyway.

You comment on my last paragraph?

Do you want your children living in a community of empty homes? Homes rented and not owned? Homes not maintained by absentee owners? Is that the future?

 

[driveby]

Didn't Biden say that the expiration of these Bush tax cuts would only impact 3% of the small businesses in America? So, is the GOP saying that these 3% of the US small businesses are going to save our econmomy?

You and Biden himself are the only people that believe Biden.......

 

[blu]

Didn't Biden say that the expiration of these Bush tax cuts would only impact 3% of the small businesses in America? So, is the GOP saying that these 3% of the US small businesses are going to save our econmomy?

You and Biden himself are the only people that believe Biden.......

so you have no real refutation?

 

[johnrocks]

Just a thought. With housing prices depressed and with forclosures increasing the possibility of "The Market" redistributing the wealth becomes all too real. Instead of the American dream once realized, Americans will again be renters as the investment class corners the market on residential housing, earning income on rents and saving money on taxes as they depreciate their assets while they allow it to degrade.
What will the banks do with all the property they now 'own'? Unwilling to loan, or willing to loan only to those who have 25-30% down, we may see the large national banks become the 'slum lords' of the future.

Housing values plummeting is a symptom or result ; not the cause; of what has been wrong for years , a monetary policy of inflating the bubbles, allowing them to fall means that they will be affordable for a new generation of first time home buyers, we need to suffer the ill effects brought about by this market manipulation by government, allow values to fall, burn off the malinvestments and have a stronger economic foundation for all of us, my thoughts on it anyway.

You comment on my last paragraph?

Now there is the paradox that government intervention and the greed fostered by this intervention created, what to do, should we bail them out,should we chance on the entire mortgage /banking sector colasping or what, I think we could have a civil and honest discussion there, I tend to think, let the chips fall where they may, other investors will come in and buy at these fire sales and the ones left to survive will hopefully learn from their mistakes but pumping more money into the system,kicking the can farther down the road and allowing people to profit while underwriting their risks just does not seem fair to the taxpayers and consumers to me. There is no easy and painless solution to a problem that has been in the making for decades;imho.