Why not just reduce ALL taxes by 50%

[Cesko]

Quote from tradersboredom:

gov't is INVESTING in the economy. it's not a stimulus. but long term investing.

investing is the only path to increase GDP and long term wealth creation.

investing in infrastructure, education, and corporations that produce goods and services. job creation

jobs are supply and demand.

Investment government style:

Speaker of the House Nancy Pelosi boldly defended a move to add birth control funding to the new economic "stimulus" package, claiming "contraception will reduce costs to the states and to the federal government."

http://drudgereport.com/flashpbc.htm

Does anybody feel like throwing up??

 

[Cesko]

Nothing will change those fucks in Washington nothing less than civil disobedience. NOTHING.

That one item tells you what the"stimulus" is all about.

 

[libertad]

A simple view....

How can there be change when the people making the decisions are mostly the same ?

Is it not interesting that politicos who have been in office for years say that you are going to have change....while THEY are still there ?

How can there be change with the SAME FACES in government ?

Change ?

How about HOAX ?

And take a guess who is getting HOAXED.....

 

[jjf]

Quote from libertad:

A simple view....

How can there be change when the people making the decisions are mostly the same ?

Is it not interesting that politicos who have been in office for years say that you are going to have change....while THEY are still there ?

How can there be change with the SAME FACES in government ?

Change ?

How about HOAX ?

And take a guess who is getting HOAXED.....

You cut to the chase on this one.

If this doesn't make lab rats (people) sit up and think then nothing will.

 

[lrm21]

Quote from jjf:

Instead of offering a stimulus package which will have a distorting effect on the economy, why not cut ALL taxes to 50 cents in the dollar and let the private sector pick the path to recovery.

Because that would imply several terrible results.

1) Giving money back to the people who have caused this problem in the first place. You the greedy taxpayer. It is clear at this point, that free markets and democracies are terribly flawed. The people are not capable of managing their own lives. We need to find the right people to lead us. Which thank god we did just that on Jan 21st. I just hope term limits don't get in the way of our hunger for leadership

2) Tax cuts would result in a direct decrease in government revenue, at a time when government needs even more money. this means either we run a greater deficit. Or god forbid the government reduces spending. And that is treasonous to suggest the government reduce spending. When the only who has made no mistakes so far has been the government. I mean if it wasnt for them, we would be running around with sticks and smearing feces on our faces.

Look, the hard part was done. You elected Obama, and with Harry Reid in the Senate and Nancy Pelosi in the house, why worry.

Let them do their job we are only 2 weeks in.

I am certain, that all these problems that worry you today will be a bad dream in 6 months,

Obama will fix everything.

 

[jjf]

Quote from lrm21:

I am certain, that all these problems that worry you today will be a bad dream in 6 months,

Nothing like a current nightmare to make the past calamities seem no more than a bad dream.

 

[christianhgross]

I live in Switzerland. A traditionally low tax country. And things work quite nicely here and so one would say, "hey look why not work in the US?"

I for one am for low taxes since I hate paying taxes. Though with low taxes come certain ramifications.

For example, I looked at the budget of the United States and found two huge expenses; military and retirement benefits.

So here is my question why not cut the military and retirement benefits? After all if you want low taxes you will have to do that.

Did you know that the American military spends about 47% of the world military budget?

http://en.wikipedia.org/wiki/Military_budget_of_the_United_States

This is a very pointed question because it is a question that Americans need to ask themselves. What do they want? After all if one part of America wants a military then another part can equally demand retirement benefits and the ball continues.

And if you say I want a big military (a legitimate demand) then you can't cut taxes, can you.

The real issue here is that the Republicans have been borrow and spend, whereas the Democrats are tax and spend. The spending has to stop.

Ok let's take the other side of the coin. Let's spend applying Kynesian economics. It is a good idea because when the economy contracts what ends up happening is that nobody spends. it is absolutely natural. But where Kynes was right was that the government needs to spend.

Free market folks say that the market will right itself. But that is complete bogus because in times of extremes the market does not right itself. That is why we have bubbles and why we have depressions. George Soros calls this reflexivity.

It is during the periods of extremes that governments need to step in. The free market argues that EVENTUALLY the market will right itself. Maybe, but do you want to go through those extremes? Do you want the depression?

My personal approach to this mess would be the follows:

1) Cut taxes
2) Cut the military budget, pull the army out of Iraq and Afganisthan. Let the world police itself!
3) Cut spending on anything related to immediate relief.
4) Increase spending in anything that is related to the future; alternative energy, education, etc.

 

[tradersboredom]

US gov't 'invested' heavily after World War 2 in Japan marshall plan and domestic programs

Nasa etc. interstate highway in the 50's etc. housing etc. building schools etc.

technology like super computers were from gov't research labs. and the internet from schools and gov't first.

with interstate highway, urbananization created demand for cars.

don't forget Saddam invaded kuwait for the oil because he was broke after th broke from the war with Iran in the 80's

iraq economy collapse during the wars from 1990-2003 and still is

Quote from Capablanca:

Who are the biggest tax payers? They will receive the bulk of the tax cuts. The question then is what will they do with it?

Let us assume Exxon will be one of the big beneficiaries. What will it do with its big tax break? Will its actions stimulate the economy?

By the way it is by no means clear that WWII stimulus was the reason for the end of the Great Depression.

 

[jjf]

Quote from christianhgross:



This is a very pointed question because it is a question that Americans need to ask themselves. What do they want?
...................................
Free market folks say that the market will right itself. But that is complete bogus because in times of extremes the market does not right itself.

America wants raw commodities and it doesn't want to pay, now all this greed come back to bite them.

The free market is always self correcting but always IN IT'S OWN TIME.

The sole purpose of intervention occurs because someone thinks they are more clever than life itself.

The world is timeless, but individual humans are not.

 

[tradersboredom]

you only pay taxes if you employed and making money in your business.

people who are unemployed or unprofitable businesses don't pay tax in a recession.

a tax cut won't do any good.

Quote from jjf:

Instead of offering a stimulus package which will have a distorting effect on the economy, why not cut ALL taxes to 50 cents in the dollar and let the private sector pick the path to recovery.