Bush Tax Cut Compromise

[Soul Crusher]

Straw - please refute this

[Straw Man]

Sorry Straw - guess what - peoples health care costs - UP, food prices - UP, gasoline - UP,  local property taxes - UP.

WHY?    Inflation induced by the Federal Reserve and its money schemes to prop up an unsustainable fiscal model that is only getting worse with the likes of obamacare, the two wars, bloated federal govt, pensions out of control etc ec. 

The Fed is more concerned about deflation at this point than inflation

Straw - please refute this

Consumer spending is still quite anemic

The Fed is more concerned about deflation than inflation

Schiff is simply wrong that saving money is going to help the economy.   It didn't do shit for Japan.

I'm not saying saving money is not good for an individual but it doesn't help the economy.

Back to the topif of this thread which is the Bush tax cuts.  If you give a tax cut to lower income people they will spend it and that can help stimulate job growth and lead to more spending and more growth.

employers are not going to hire more people and buy more inventory with the expectation that it will increase consumption.  It just doesn't work that way

[Soul Crusher]

Straw-  how can people spend more money on consumer goods when they are left with nothing already due torising cost of livingin basic staples like, food, energy, health carem, taxes, education, etc? 

And so what if there is deflation in home prices?  We need to still correct at least another 30% to get to historical norms after the massive increase we had the last decade.   

[Soul Crusher]

I'm not saying saving money is not good for an individual but it doesn't help the economy.


________________________ ________________________

True - in the short term is sucks for the economy - but in the long term it is better. 

[Straw Man]

I'm not saying saving money is not good for an individual but it doesn't help the economy.


________________________ ________________________

True - in the short term is sucks for the economy - but in the long term it is better. 

it sure worked great for the Japanese

[tonymctones]

LOL yes and how do they get that number straw?

you have to look at how they got the numbers, its like the CBO numbers on the health care bill which obviously werent accurate b/c of how they got them...
we may lose 36billion in taxes from individual income tax but how much of that money that stayed in the pockets of the citizens got put back into the economy?

thats the point...

you take such a simplistic view of it like the country as a whole just lost 36 billion well that money went someowhere bro...

[Straw Man]

like I previously wrote - the number came from the Washington Post who said it came from the Joint Committee on Taxation (http://www.jct.gov/about-us/overview.html)

where did your numbers come from again?

[Soul Crusher]

it sure worked great for the Japanese

Clueless - Japans' saving rate was not the cause of their problems. 

[Straw Man]

Clueless - Japans' saving rate was not the cause of their problems.  

I didn't say it caused their problems did I?

Their economy crashed in 1990 and their ethic for personal savings didn't do shit to help the economy

I think savings is great (I'm a chronic saver myself) but it's not a cure to any of our problem

The idea that if we all start saving money that the banks will suddenly have more money and start lending is also nonsense (not saying you believe this but just giving you an example)

[tonymctones]

like I previously wrote - the number came from the Washington Post who said it came from the Joint Committee on Taxation (http://www.jct.gov/about-us/overview.html)

where did your numbers come from again?

and how did they get those numbers brain child?

you took the CBO numbers on health care at face value and where did that get us??? 

how did they get the 36 billion?

[Soul Crusher]

and how did they get those numbers brain child?

you took the CBO numbers on health care at face value and where did that get us??? 

how did they get the 36 billion?

Even the head of the CBO is sayng ObamaCare is a compelte trainwreck

[Straw Man]

and how did they get those numbers brain child?

you took the CBO numbers on health care at face value and where did that get us??? 

how did they get the 36 billion?

I don't know where the joint committe on taxation got their numbers and I doubt you do either, especially since you not provided even one source for you numbers.....brain child

the point of this thread was the comparison of the Repub vs. Dem plan for the Bush Tax cuts

[tonymctones]

I don't know where the joint committe on taxation got their numbers and I doubt you do either, especially since you not provided even one source for you numbers.....brain child

the point of this thread was the comparison of the Repub vs. Dem plan for the Bush Tax cuts

http://www.washingtonpost.com/wp-dyn/content/article/2010/08/03/AR2010080305317.html
 
from your bastion of journalism straw...

so you dont know how they got the numbers? go here and see if you see anything in any of those publications about where the money goes...http://www.jct.gov/

i looked through 3 or 4 of the most recent and didnt see one aspect to cover that...

so lets say that they dont account for the money going back into the economy...

do you not understand that the tax cuts leave more money for ppl to spend? seeing as our annual savings rate is 6.4%