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Thread: Obama Plan Would Boost GDP, Economists Say(edited)

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by Conservative View Post
    Obama is doing exactly what his resume showed he would do, nothing as he had zero leadership skills but he does love the camera and the camera loves him. Symbolism over substance is what you are all about.
    If you can think of something to parrot other than wingnut talking points let me know.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Goldman Sachs Group Inc., Moody’s Analytics Inc. and JPMorgan Chase & Co.
    All three of those sources have a conflict of interest in that they have close ties to the current administration and make money from those ties. Cheap money is good for their business but not for the economy as a whole. Moodys much less so than JPMorgan and GSG.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by AdamT View Post
    You are a hopeless wingnut parrot. Krugman is a genius who called the stimulus and the reaction to it almost exactly. Try thinking for yourself; limbaugh and Hannity are not very smart.
    He said it wouldn't be enough. That's only correct if you assume the answer was stimulus. It wasn't. There is never enough government for Krugman.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by 1Perry View Post
    He said it wouldn't be enough. That's only correct if you assume the answer was stimulus. It wasn't. There is never enough government for Krugman.
    842 billion dollars some of which was spent to save union pensions and offering targeted tax cuts will never do the job. It was sold on the basis of stimulating the economy and keeping unemployment from exceeding 8%. Guess Obama had trouble finding the shovels for those shovel ready jobs. Only a true liberal blames the amount instead of the implementation for the failure. Krugman is a big spending, big govt. liberal and as you stated there will never be enough govt for Krugman.

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by Conservative View Post
    Tax cuts always put more money into people's hands which is a good thing, the problem with this one is that it taxes money from the underfunded entitlement programs yet you have no problem with it?
    I can live with it as long as the reduction is temporary AND it spurs job growth. I found this LATimes article from 1992, "Kemp Assails Tax Withholding Change as a 'Gimmick'":

    [Jack]Kemp said the Administration had not adopted two of his major strategies--cutting payroll taxes by 15% to stimulate job growth (being one)...
    The other was elimiating the capital gains tax in inner cities (whatever the "inner city" part means). But let's focus on the payroll tax deduction since it is the topic of discussion at the moment.

    At the time, it was estimated that the tax cut "could inject $25 billion into the economy." So, I ask if a 15% payroll tax reduction (1.14% of 7.65% payroll tax) could potentially generate $25 billion by "provid[ing] each taxpayer with an average of $1 a day in increased disposable income" why then couldn't a 41% reduction (3.1%) do far better 19 years later?

    There is, of course, the question of how to pay for it. Well, if you accept the "multiplier effect" theory then you know that the more people who are employed the more income tax revenue goes into the Treasury. Moreover, if as a conservative you subscribe to the believe that "the more money you earn and allowed to keep, the more disposable income you have" then how can you denounce the President's economic plan when this component of economic stimulus was encourage 19 years ago by a Republican administration?
    Last edited by Objective Voice; 09-11-11 at 08:30 PM.

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by j-mac View Post
    Does Mark Zandi, a proponent of Obama's first failed stimulus plan now speak for all economists?

    j-mac
    He is probably the private sectors most astute economist.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by Objective Voice View Post
    I can live with it as long as the reduction is temporary AND it spurs job growth. I found this LATimes article from 1992, "Kemp Assails Tax Withholding Change as a 'Gimmick'":



    The other was elimiating the capital gains tax in inner cities (whatever the "inner city" part means). But let's focus on the payroll tax deduction since it is the topic of discussion at the moment.

    At the time, it was estimated that the tax cut "could inject $25 billion into the economy." So, I ask if a 15% payroll tax reduction (1.1%) could potentially generate $25 billion by "provid[ing] each taxpayer with an average of $1 a day in increased disposable income" why then couldn't a 41% reduction (3.1%) do far better 19 years later?

    There is, of course, the question of how to pay for it. Well, if you accept the "multiplier effect" theory then you know that the more people who are employed the more income tax revenue goes into the Treasury. Moreover, if as a conservative you subscribe to the believe that "the more money you earn and allowed to keep, the more disposable income you have" then how can you denounce the President's economic plan when this component of economic stimulus was encourage 19 years ago by a Republican administration?
    the problem I have with it is that it is a cut in SS/Medicare that has to be paid back. If you cut FIT you can or should adjust the budget items if less revenue is generated. There are no obligations for much of the budget items but there are obligations with regard to SS. The SS/Medicare tax cuts have been in effect for over a year and with what results? Love how liberals complained about the Bush tax cuts that cut rates and FIT but have no problem cutting FICA which funds SS/Medicare.

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    Re: Obama's Plan is the Right Way to Go

    I've long had a problem with the Bush tax cuts...I prefer that they didn't get extended but understand why they were. And while I'm not too keen on the FICA tax being cut still, I can live with it as long as the cut is temporary. At some point taxes will have to be raised, but in today's economy I can live with temporary tax reductions as long as they expire at the end of 2012, as appropriate.

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    Re: Obama's Plan is the Right Way to Go

    Quote Originally Posted by Objective Voice View Post
    I've long had a problem with the Bush tax cuts...I prefer that they didn't get extended but understand why they were. And while I'm not too keen on the FICA tax being cut still, I can live with it as long as the cut is temporary. At some point taxes will have to be raised, but in today's economy I can live with temporary tax reductions as long as they expire at the end of 2012, as appropriate.
    My problem is why would anyone reward politicians for their bad behavior by giving them more money and taking it from the people who had nothing to do with creating the problem?

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    Re: Obama Plan Would Boost GDP, Economists Say(edited)

    Quote Originally Posted by Tettsuo View Post
    The cost of inaction is much greater than the cost of action.

    Obama Plan Would Boost GDP, Economists Say - Bloomberg



    So if the option is to simply cut services then wait and see, we're in for a long cold recession, but if we act it could improve things across the board.
    IOW, we're going to do the same things that didn't work when we tried them before.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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