“I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.
a) Yes, of course I understand what a rebate is.Do you understand what a rebate is? How does giving you 500 stimulate the economy long term?
b) It helped cushion the blow when the economy was at a particularly rough patch, by getting people to spend, and via mechanisms with high multipliers. You DO know what a multiplier is, right? And why something like unemployment benefits, or a $400 break on your paycheck, tends to have a higher multiplier...?
c) The payroll tax cut was never intended as a long-term stimulus. It was always meant to be temporary, which is why it expired already.
Where are you getting this "long term" requirement from? These tax cuts were always intended to be short-term, as was the spending. The long-term effects are indirect, namely they helped cushion the economy a little bit in the worst periods.Income tax cuts stimulate the economy because they are ongoing....$4200 in unemployment insurance excluded from taxes? Nice long term benefit, isn't it?
So... in your opinion, a tax cut isn't a tax cut if it only applies to some people?Child tax credit? How about the millions and millions who don't have children? Good for how long? Tuition credit? wow, now there is a job creator and stimulator
Uh, no. Not even close. It was a big tax rebate ($8000 at its peak), which you'd lose if you sold the home in less than 3 years. By the time the rebate was in place, banks had already increased lending standards because of the excesses during the real estate bubble. It also was a big boost for real estate, as noticed when people were basically trying to buy before the credit expired.First time home owner rebate? Great, don't you have to have a job to buy a home and continue to make the payments?
Sorry, but it's you.You don't understand economics, you don't understand the budget, you don't understand your own budget, or how to create jobs in a private sector economy. There is a disconnect between what you know and what the public in general sees. One of you are wrong, which one do you think it is?
I've studied quite a bit of economics, including how and why a stimulus is supposed to work, why it's patently ridiculous to insist that a tax cut must be long-term in order to have any affect, how government budgets work, how bubbles form and perpetuate, how a lack of regulation in many key areas caused the last recession, and how limited governments are in terms of creating private sector jobs.
OBVIOUSLY. In that case, it meant a one-year break for anyone bumping into AMT territory.Do you know what a temporary increase in AMT Means?
Your attempts to deflect are failing.Poor economic growth to a liberal is still growth to be touted?
You are the one claiming that GDP growth of $1.7 trillion in recent years is due to an $850 billion stimulus, 1/3 of which is *cough* short-term tax cuts. You should explain your claim in more detail.
What the...?You really don't like this country much, do you? So now children are up to the age of 26? Why 26? Where is the incentive to get a job?
I do like this country. I really don't see why "keeping offspring on parent's insurance" indicates that anyone "hates America" or is a disincentive to get a job. Rather, it's an expedient method to expand insurance coverage.
I think that there really isn't much that a government can do to encourage hiring. An employer isn't going to take on an employee who will cost him $50,000 a year just to get a $2,500 tax cut. We can't force companies to keep employees in the US. We can't force companies not to automate jobs.Yep, 7.3 million part time employees today according to BLS and all want full time work but cannot find it. Any suggestions? You think Obama policies create incentives to hire?
The VA actually did a pretty good job overall until the last ~10 years. For decades, they had one of the best hospital systems in the US. The root of their problems extend across multiple administrations.How is that working out for our Veterans? how is that working out for those of us that actually pay taxes to the IRS? You think the govt. can do tasks that the private sector cannot? What tasks would that be?
As to the tasks, I'd say they include: Defense, police, courts, oversight of industries, education, managing roads, handling parks, providing services for the poor, doing R&D. They actually do a pretty good job of it -- in many cases, better than the private sector. I might add that lots of governments do a good job of providing health care for their citizens.
Do you understand that in 1790, the total US population was less than 4 million people? About half of US states have a larger population today than the entire US in 1790.Do you understand that our Founders had a part time legislature?
Well, one reason is that people want benefits and services, and don't want to pay for them. Both Democrats and Republicans are willing to borrow to meet those demands. Republicans don't even want to collect taxes for those services.Why do we need a 3.9 trillion dollar federal budget?
Actually, it's both. Small businesses are responsible for about half of all US employees.Corporate America doesn't drive the U.S. economy, the small businesses many of whom are Mom and Pop operations do and Obama is doing nothing to help them.
Uh, no, they're counted. BLS uses the Current Population Survey to determine unemployment. There's a separate statistic for people who are collecting unemployment benefits.Those are the people that are now unemployed and not counted in the BLS data.
We've had about 5 years of positive growth after a devastating recession. Unemployment always lags, and it is slowly getting better. Changes in labor force participation is a multi-decade trend. How much information do you need to recognize that blaming the guy who got into office after the recession started isn't actually correct?We have had over 5 years of stagnant economic growth, high unemployment, high debt. When is enough enough for people like you?
Uh, hello? McFly? I did just list them.When you figure out the components of GDP and what they contribute you will have your answer. I could give you the answer but then you would just ignore it
• Personal consumption
• Business (private sector) spending
• Government spending
• Imports and Exports
So I ask you again. How did $600 billion in spending over two years result in $1.7 trillion in GDP growth over 4 years?
Killing one person is murder, killing 100,000 is foreign policy