The "Free Market" needs a hand?

[Gurdari]

Perhaps some of USMB's economists can help me out, but is Bush acting like a socialist? As a supporter of Free market ideals, and leader of a party that also champions 'less interference' from government - how can he force a sort of 'everybody pays everybody gets the benefit' solution on the nation?

Should this crisis be worked out by the principles of free capitalism?

Is the Republican party outraged that Bush would suggest a handout to help those who have been fiscally irresponsible?

 

[Paulie]

Perhaps some of USMB's economists can help me out, but is Bush acting like a socialist? As a supporter of Free market ideals, and leader of a party that also champions 'less interference' from government - how can he force a sort of 'everybody pays everybody gets the benefit' solution on the nation?

Should this crisis be worked out by the principles of free capitalism?

Is the Republican party outraged that Bush would suggest a handout to help those who have been fiscally irresponsible?

Um, in case you haven't noticed, our entire congress has been fiscally irresponsible. The republican party has hands down endorsed every fiscally irresponsible thing this president has done since being in office.

There's no such thing as fiscal conservatism anymore. Hopefully in these coming months and this year as a whole, that'll change.

 

[Gurdari]

Um, in case you haven't noticed, our entire congress has been fiscally irresponsible. The republican party has hands down endorsed every fiscally irresponsible thing this president has done since being in office.

There's no such thing as fiscal conservatism anymore. Hopefully in these coming months and this year as a whole, that'll change.

I guess I meant the total change in ideology or approach from what is usually spoken about deregulation, free markets, etc. and how a problem is approached when (I suppose) the Free market can't solve this...

 

[Toro]

I guess I meant the total change in ideology or approach from what is usually spoken about deregulation, free markets, etc. and how a problem is approached when (I suppose) the Free market can't solve this...

Well, its never really been like that. The debate is not between free markets and no free markets. Its between more free markets or less free markets.

This administration has at times been very willing to interfere in market activity.

 

[indago]

From Fox News 29 January 2008:
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WASHINGTON — The $146 billion stimulus package intended to jolt the economy by giving taxpayers rebates up to $1,200 includes cash returns for illegal immigrants who pay taxes.

Under the plan passed by the House, illegal immigrants who qualify as "resident aliens" and earned a minimum of $3,000 would be eligible for rebates of between $300-$600, FOX News has learned.

Only those illegals who have been assigned an Individual Tax Identification Number that allows them to file income taxes would be eligible. Resident aliens are defined as people who spend a "substantial" amount of time in the U.S. and have not been deported.

The provision has irked illegal immigration opponents, who say the assigning of TINs and collection of taxes from illegals sanctions their presence in the country.

Rep. Tom Tancredo, R-Colo., told FOX News that the bill will certainly stimulate "more illegal immigration."

The stimulus plan met with overwhelming bipartisan support Tuesday, passing the House 385-35 with little debate after House leaders and White House negotiators came to agreement last week.

Opponents of the illegal immigrant eligibility provision point out that the House considered the bill under "suspension of the rules." Suspension provisions allow the House to expedite bills and don't open them up to the usual amendment process.

The plan, which would send at least some rebate to anyone with at least $3,000 in income — with more going to families with children and less going to wealthier taxpayers — faces an uncertain future in the Senate.

Senate Democrats and some Republicans support a larger package that adds billions of dollars for senior citizens and the unemployed, and reduces the rebate for individuals to $500 and $1,000 for couples.

The Senate version written by Finance Committee Chairman Max Baucus would deliver checks even to the richest taxpayers, who are disqualified under the House-passed measure.

Senate Majority Leader Harry Reid blasted the proposal to send rebates to those with higher incomes, saying it "causes me to want to gag." The feeling is widespread among Democrats, he added, saying the "the gag reflex is coming upon everybody" over the plan.
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