~ John Lee ~ setting my sights lower so I can set them higher

Support President Barack Obama's Leadership (read all 13 entries…)
Whoopsie - Tax Cuts Are Set To Fail The Economy 10 months ago

There is an argument among some people that tax cuts are the answer for many of our nation’s troubles but just released information from the US government suggest otherwise.

The national savings rate rose, quite significantly, in the last quarter of 2008. For the average citizen, savings is a good thing – there is more money socked away for a rainy day. But in the current economy a penny saved is a penny that is not circulating through the hands of merchants and manufacturers.

A tax cut, or even a slew of tax rebates for citizens, would most likely eitehr be used to pay off credit card debt or become a part of the millions of additional money we Americans are putting into our savings accounts each week.

In order to better support President Obama’s Leadership we need to explain that tax cuts don’t do much to help the national economy – they are great for the person receiving the check, and probably even better for the politicians sending out the checks, but they are not going to jump start our economy.

Feb 02, 2009, 03:14PM PST | 2 cheers


Comments:

Colin in the hardtimes you're on our own

Here Here

at the risk of ranting, now is the time for higher taxes. That money then spent on work creation, in the thirties projects like the habour roads around Dunedin, state houses and power plants kept the poor in work. In the US the biggest dam ever built was built with public money, during a depression, plus loads of other stuff I bet I don’t know about. Unless we learn from the past we’re fated to repeat it so unless you want to be Spain or Germany or China circa 1935 it is time to resurrect Roosevelt’s new deal.

We down here in the wap waps are screwed cos we heard that “time for change” stuff the media was packed with and some of the less alert among my fellow Kiwis thought that ment kick out the free market liberals and elect the free market capitalists.

We get ninety days were the boss can sack a new employee with no reason needed and no protection at all. Minimum wage freeze and our weak environmental protection laws are being weakened. Tax cuts are coming, as is borrowing from the IMF to pay for the hospitals and schools and the vague promises of infrastructure spending. All in the name of “stimulating growth”.

Feb 02, 2009, 03:34PM PST | Thread | Respond to this 1 cheer

~ John Lee ~ setting my sights lower so I can set them higher

We the Kiwis, in order to form a more perfect union ...

In the US we often get all warm and fuzzy around the 4th of July (our Independence Day) with mushy references to a nation “of the people, by the people, for the people.” And yet when someone in government wants to take that for the people stuff to a place in policy whereby money is spent not only for the people today but to build useful things for the people tomorrow, we seem to balk.

I find it odd that the super patriotic can’t see how building the best infrastructure in the world is about the most all-american way to spend our money … of course the business types who champion the entrepenuers seem to be blind to the fact that efficient rail and road systems bring goods to market quickly, and raw materials to factories …. and an upgraded air transit system can shorten a coast to coast trip (using current aircraft) by as much as 40 minutes! – and less time in the air means more time doing business …

...separately I find it odd that some are actually are concerned about spending American money on America – where for about 7 years billions of American dollars were spent on Iraq. Hmmm – blowing up schools in Iraq, good, building schools in Detroit – bad. Okay, I am being facetious now.

Feb 02, 2009, 04:53PM PST | Thread | Respond to this 2 cheers

Colin in the hardtimes you're on our own

Yeah I thought that was odd about your country too,

we’re the same though. I say we but I tell every one who’ll stand still long enough we should be spending money here and taxing overseas investments.

Soon we’ll be third world, I used to joke about it but really we will be. Our fearless leader used to work for the world bank, he must’ve seen first hand what happens to nations were the overseas debt is unservicable, and that’s road he will take us down.

We spend money on the Pacific Islands, not blowing up schools though we invade countries like Timour leste and Solomons after someone else has burned the place down and try to rebuild. Unlike the rest of English speaking nations no one is scared of us cos our army is maninly poor white farm boys and urban polynesians so they’re not very dangerous to anybody except sheep and each other.

I think John wants to bring US companies here to built nuclear power station we don’t need cos tourists apparently don’t like windmills on their vistas so we can’t build any cos it will cause rich people from somewhere else to be offended.

Every one wants to be like the big countries (USA, England and Aussie) but the best things about us are the reasons we can’t be. Too small, we have to play nice with every one else cos they’re bigger and badder than us, we stood up to Reagan and Thatcher and Gorbachev all at once and we see the sun first, woman saw the vote first, and we’ll be the first OECD nation to get booted out.

I know this rant has nothing to do infrastructure in the US my bad.

Feb 02, 2009, 05:14PM PST | Thread | Respond to this 1 cheer

Picasso's Muse

You've been conned

Sorry but it’s not tourists that have a problem with windfarms. Renewable energy sources are what they expect to see when they’re here. It’s classic ‘not in my back yard’ by our fellow New Zealanders. If you’re hearing otherwise, then it’s being used by New Zealanders inaccurately as a reason to oppose development. Don’t buy into it.

Feb 02, 2009, 11:12PM PST | Thread | Respond to this 4 cheers

Colin in the hardtimes you're on our own

okay

I mainly know about the Southern island ones where we get mean winds across the highlands and it’s the tourist industry bitching about ruining of their vistas that have shelved the central ones.

Feb 04, 2009, 04:30PM PST | Thread | Respond to this

Exactly - Picasso's Muse

revengeofnudefreedom Merry Christmakwanzakuh!

In regards to the "We want tax cuts!" crowd....

I can understand the argument of “Why not just let us keep X amount of money, instead of taking X amount of money from us and then writing us a check for X amount of money.” And granted some of those people might have a legitimate need for more money (buy more groceries, spend it on meds, spend it on health care, towards educating themselves, legitimate living expenes, etc.)

But…....

How many Ivan and Isabel I Want Tax Cuts out there are going to spend that money on bridges? How many Ivan and Isabel I Want Tax Cuts are going to build schools with the money? How many Ivan and Isabel I Want Tax Cuts are going to put the money towards job creation?

Or maybe a better question….....

How many Ivan and Isabel I Want Tax Cuts would take the money and spend it on that fancy dancy gadget they’ve always wanted?

That’s where the government comes in…...

Sometimes you need the government to light fires underneath the people and crack the whip on them a bit, to make sure things get done in a satisfactory manner.

I want more money spent helping more people.

I want more programs to help more people.

Yes, I’m a liberal, yes I’m left-wing, you’re damn right I am, and I’m proud of it.

Feb 02, 2009, 05:20PM PST | Respond to this 1 cheer

Enore is

Fuck supporting Obama...

...let him support ME. I don’t him a goddamned thing. The Holy One is already showing himself to be just another lying politician.

And any time I can put money in my checking or savings account is a good day.

Feb 03, 2009, 05:12AM PST | Respond to this

Chris

Last time I checked

I already pay taxes for infrastructure! What have they been doing with the money my entire life? In general they have been spending it on other things! The whole we need more money proposal will never wash with me from our government until they show me they are doing about 2000% better at managing what they are allready getting from me and other Americans!
The “spending” pakage proposed by our new president is incredibly amusing if it were not so serious! When you look in the dictionary under wasteful, pork spending to accomplish a political payback, this bill is what you see! I don’t want my money and my childrens money being indebted until 2020 (optimistic).
In General to our problems the government is not the solution we are!
Regards!
Chris

Feb 03, 2009, 06:10PM PST | Respond to this 1 cheer


~ John Lee ~ has gotten 2 cheers on this entry.

 

I want to:

The world wants to...

43 Things Login