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Thread: US money supply plunges at 1930s pace as Obama eyes fresh stimulus

  1. #11
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    Re: US money supply plunges at 1930s pace as Obama eyes fresh stimulus

    Quote Originally Posted by alms View Post
    kandahar,

    What kind of stimulus would you propose? Spending or tax cuts, or both? If both, which one would you place more emphasis on and why?
    A bit of both, but I'd place more emphasis on spending. In addition to stimulating the economy in general, it has the added benefit of targeting whatever economic problems we're facing. For example, it could be geared toward expanding/extending unemployment benefits, or helping states pay down their debts, or getting started on necessary infrastructure projects.

    Quote Originally Posted by alms
    In my opinion, any stimulus ought to consist primarily of tax cuts. I believe the psychological effect this would have on consumers and producers would help restore and sustain confidence in the economy. I don't think this administration is being accommodative enough towards the private sector, which is the true source of economic prosperity and stability.
    I wouldn't be opposed to tax cuts...but I think they should mostly be geared toward corporations. Our income taxes are already low enough (perhaps too low) IMO. Cutting the corporate tax rate could definitely help stimulate the economy.
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    Re: US money supply plunges at 1930s pace as Obama eyes fresh stimulus

    Quote Originally Posted by Kandahar View Post
    I wouldn't be opposed to tax cuts...but I think they should mostly be geared toward corporations. Our income taxes are already low enough (perhaps too low) IMO. Cutting the corporate tax rate could definitely help stimulate the economy.
    If we were to have any tax cuts, I'd rather they be focused on small businesses. Small businesses make up the majority of the U.S. economy, but it is only the large corporations who has the most pull in Washington.

  3. #13
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    Re: US money supply plunges at 1930s pace as Obama eyes fresh stimulus

    Quote Originally Posted by jujuman13 View Post
    On two fact
    1) if first one had worked, they (Obama) would not be talking about a second one.
    That doesn't follow at all. First of all, the economy clearly HAS improved since the stimulus was passed. Second of all, even if it HADN'T improved, you couldn't necessarily conclude that the stimulus hadn't prevented it from being even worse.

    Think of the economy as a big ship...and all of our economic indicators and government policies are little tugboats pulling the ship in different directions. The stimulus is one such tugboat. Just because the ship goes a certain direction doesn't mean that every single tugboat is pulling it in that direction.

    Quote Originally Posted by jujuman13
    2) Unemployment continues to rise.
    Unemployment is generally a lagging economic indicator, so this is to be expected. Unemployment continues to rise for several months after the economy as a whole begins to recover. Second of all, the reason it is rising is because people who had previously given up looking for a job are now looking again and are thus counted in the statistics. The US economy has actually been creating net jobs for a couple months now.
    Last edited by Kandahar; 05-28-10 at 08:32 PM.
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