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the tax cut made sense in theory, but here we are 2 years later and do you think its made the impact it was proposed it would? im still waiting *taps foot, looks at watch*
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"I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburger -
What's the current deficit count, including that tax cut? About 400/450 billion $ federal, 100 billion $ state/local?“Now we declare… that the law-making power or the first and real effective source of law is the people or the body of citizens or the prevailing part of the people according to its election or its will expressed in general convention by vote, commanding or deciding that something be done or omitted in regard to human civil acts under penalty or temporal punishment….” (Marsilius of Padua, „Defensor Pacis“, AD 1324)Comment
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the tax cut made sense in theory, but here we are 2 years later and do you think its made the impact it was proposed it would?
Sure. Just think what it would have been like without the stimulus.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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i dont think it would be that different."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburgerComment
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Originally posted by DanS
the tax cut made sense in theory, but here we are 2 years later and do you think its made the impact it was proposed it would?
Sure. Just think what it would have been like without the stimulus.
Of course you can say that if you keep calling it a stimulus.
I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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MRT: Well, that settles it then.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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IIRC, about 1.6 out of 2.1 million jobs were lost since the 2001 cut, so I'm not holding my breath for a massive wave of stimulus."Perhaps a new spirit is rising among us. If it is, let us trace its movements and pray that our own inner being may be sensitive to its guidance, for we are deeply in need of a new way beyond the darkness that seems so close around us." --MLK Jr.Comment
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Yeh, so what? 9/11 happened after the tax cut too.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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is there a way to measure how much the tax cut contributed to the economy? if i remember correctly the tax cut was small potatoes for most working people and in economicly poor conditions when consumer spending is down, people probably would have saved that money rather than spend it.Originally posted by DanS
MRT: Well, that settles it then.
considering that a large part of that cut went to people (the rich) who already save a lot of money, i just cant see how it prevented any worse economic conditions from happening."I hope I get to punch you in the face one day" - MRT144, Imran Siddiqui
'I'm fairly certain that a ban on me punching you in the face is not a "right" worth respecting." - loinburgerComment
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Tax cuts
And if we have to slash social programs, even better.Follow me on Twitter: http://twitter.com/DaveDaDouche
Read my seldom updated blog where I talk to myself: http://davedadouche.blogspot.com/Comment
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is there a way to measure how much the tax cut contributed to the economy?
Not really. There are models of how much it contributed, though.
if i remember correctly the tax cut was small potatoes for most working people and in economicly poor conditions when consumer spending is down
Let's review what it did. Increased child allowances. Gave a $300/$600 refund to everyone, whether they paid federal income taxes or not. Created a 10% tax bracket for the lower middle class. Reduced tax brackets for everyone. Reduced the marriage penalty. Total 10 year price tag: $1.35 trillion. Almost all of this was demand-side stimulus.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I got $257b for federal and $147b for state/local at the end of 2002, but both those numbers are larger now.Originally posted by HershOstropoler
What's the current deficit count, including that tax cut? About 400/450 billion $ federal, 100 billion $ state/local?
http://www.federalreserve.gov/releas...rent/z1r-2.pdfI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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dpI drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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The rebate worked. So why not do it again? If they really wanted to stimulate the economy they would.Originally posted by DanS
is there a way to measure how much the tax cut contributed to the economy?
Not really. There are models of how much it contributed, though.
if i remember correctly the tax cut was small potatoes for most working people and in economicly poor conditions when consumer spending is down
Let's review what it did. Increased child allowances. Gave a $300/$600 refund to everyone, whether they paid federal income taxes or not. Created a 10% tax bracket for the lower middle class. Reduced tax brackets for everyone. Reduced the marriage penalty. Total 10 year price tag: $1.35 trillion. Almost all of this was demand-side stimulus.I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
- Justice Brett KavanaughComment
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The rebate certainly stimulated my personal economy. The extra $30 per pay check has come in handy also. I really liked the rebate idea!!"I am sick and tired of people who say that if you debate and you disagree with this administration somehow you're not patriotic. We should stand up and say we are Americans and we have a right to debate and disagree with any administration." - Hillary Clinton, 2003Comment
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