Obama wants $300 bill. stimulus tax cuts

Just cut the payroll (SS) tax in half...immediate "stimulus"...raise the cutoff ceiling "tax the rich"...pretty simple...300 billion (only 150 billion for the "workers") is a pittance for all those votes...we should demand more!...and what's a "credit"...do I get a 500$ refund for buying a 40,000$ Prius, like I can afford or want to drive...how much do I get for my 350K combine for the "green electric model"...I like the business credit for employee "bicycle travel to and from work"...works well out here in the country, but you Liberals will have great hamstrings in the ice and snow...let's see the details before all the hype , Frank. This is Congressional "pork" not economic growth...Dem's propose "tax cuts" is a oxymoron...
Chris "Countrywide" Dodd or Barnery "Freddie & Fannie are sound" Frank should volunteer for Commerce Sect...y'know, for country...they"ve been "vetted".

$300 million tax cut? Why that is a whole $1 for every man, woman and child.

Hooray.

What will be hilarious is to watch the extreme leftists and the media, which criticized the Bush tax cuts, to embrace wholeheartedly the Obama tax cuts for individuals and companies. Obama is out-conservative-ing Bush by far. Time to make Obama an honorary Republican.

What will be hilarious is to watch the extreme leftists and the media, which criticized the Bush tax cuts, to embrace wholeheartedly the Obama tax cuts for individuals and companies. Obama is out-conservative-ing Bush by far. Time to make Obama an honorary Republican.

Anybody thought about how obammy is going to pay for all of his promises? hehe

The tax cuts and spending plans clearly show our weakness, we are an economy based on consumption.

The fall in gas prices is acting as a prolonged stimulus in spending that will keep giving for a few months.

A national health care plan that reduces health costs on employers while covering all Americans will provide the strongest shot for long term growt and improve our lives.

The government is spending so much money right now bailing out banks, propping up Detroit, further tax cuts may not be wise.

Let's see if this current stimulus stuff works. Moving too slow is problem, but so is moving too fast.

My income is up over the last year. It is too bad that I am reigning in my hiring and spending in anticipation of higher taxes in the coming year.

Will we receive stimulus checks as a result of Obamas tax cut plan. Will it be in the form of a check as last year; and do we have to file income taxes to receive these rebates as well?

“Anybody thought about how obammy is going to pay for all of his promises? …”
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Posted by: jfr | January 5, 2009 10:22 AM
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Yeah, yeah, we ask about that all the time around here. It’s not a safe question. People around here hate it when you ask such honest questions. It makes them mad when the zipper starts to show.

“Obama is out-conservative-ing Bush by far. Time to make Obama an honorary Republican.”
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Posted by: Danforth | January 5, 2009 10:08 AM
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It is true that fiscal irresponsibility has become a hallmark of the Republican Party. It is not, however, fair to characterize it as a trait of conservatism. Hence, it would have been far better to say that Obama is out Bush-ing Bush.

This is the same propaganda - give people what they want to hear all the while increasing the federal budget way beyond it's ability to collect enough to pay for the social programs necessary to keep the votes coming in.

When will people realize that trying to make the top 5% of wage earners pay 100% of the bill for the 60% who earn wages but pay nothing and the 35% "on the dole" who look forward to the Obama free ride for the next four years, is not good.

Those top 5% will hunt harder for more ways to hide - defer - hold offshore their earnings from taxation and then who's going to pay for the other 95% that have been promised the moon & stars for free?

Obama's stimulas plan needs to be huge (bigger than what I've heard floated) or it will not have any long term effect. As Krugman said, if it's not big enough it won't dramatically change things.

Screw the Repubs. They had their chance to govern and they wet the bed for eight straight years.

Let's cut the budgets of the DOD and Pentagon by $100 billion and raise taxes substantially on the rich and super-rich. I would also cut off our aid to foreign countries by 50% or so.

During the campaign Obama promised a "net" tax cut to the middle class.

What he's delivering is just the opposite.

Which anyone with a 4th grade education can figure out.

The approximate overall package is $300 billion in tax reduction plus $400 billion in new spending--in all $700 billion, all financed by borrowing. Taxpayers save the $300 billion, only to end up owing $700 billion (plus interest) later on as the bills for the borrowing come due.

This is at least a net $400 billion spending hike and thus a tax hike. To be payed by those who pay most of the taxes--the middle class.

He's so out of touch that he thinks $500 is enough for the working class that pays in thousands to support illegals, welfare recipients and his bailouts?

Forget it, rather than giving 700 billion to corporations, split it up among taxpayers and let US pay off our debt and stimulate the economy .. if we had less debt, we'd have to work less, and more of our $$ could go into spending for what we wanted to stimulate the economy.

STOP BAILING OUT BUSINESSES - LET EM FAIL. Bad management should not be rewarded.

Pedro,
That's $300 Billion, or $1000 per, etc.
A billion in x1000 of a million.

Having pointed that out, I am against it. Put it all in stimulus. No more tax cuts or giveaways until we ARE not at war and the deficit is falling.

There have been enough tax cuts.

bruce, straight out of the repuke playbook. who can we thank for putting us in this impossible mess? think hard about the borrow and spend aspect before responding.

Posted by: Bruce | January 5, 2009 3:38 PM

So then, by your logic, Bush never cut taxes, but has massively RAISED taxes over the length of his term, right?

Where are the requisite companion spending cuts going to come from? In detail, please.

At this point nobody seems to know for sure (WHO) gets what? My Husband, and I were raised Old School...I was a stay at home Wife, Mother, and Housekeeper. Question? What is the hourly wage for...cooks, teachers, childcare providers, house-maids, nanny's, nurses, window-washers, landscaping, lawn-care, laundry providers, taxi, female companion, and personal counselors, etc.etc.?
Where's my paycheck for services rendered? As a Wife, and Mother of 3... my job provided all the above!
My husband will be 70yrs. old this year (2009) He began drawing Social Security at age 65 1/2...However it is not enough to cover our monthly living expenses. So he continued to work. Until he was laid off work last year (2008) because of job shortage, not his age. He is at this time drawing his Unemployment Benefits. Which runs out soon. I can't work because of health problems. My husband has paid TAXES for over 50 years. So where the heck is his Tax-Cut, or Stimulus Benefit??? He did not make $75,000 a year, or even near that. He has been a hard-working, Average American Citizen. Just like millions of others! I'd say after 50 years of paying taxes he's payed his due's!!! Yet I see NOTHING in the Stimulus Tax Cut that will benefit us.....WHY???

In all fairness to President Obama, and as A Citizen of The United States of America. I feel the right, and proper thing to do is give President Obama a chance to prove himself. In the working world of today. The average New Employee is given a grace period so (He or She) can PROVE they are worthy of the job they have been hired to do. Minor mistakes in general are accepted, and expected by The Employer during the grace period. Face it! With The Economic Crisis we are in. President Obama is like someone stepping into... A Hornets Nest...Armed-With-A-Fly-Swatter!!!
He deserves a chance! We all need to keep in mind. If some of the prominent issues are not resolved right away. It's most likely because it's being... Delayed In Congress... Our President cannot just say... This Is When, How, and What I Want Done...Along with the rest of us he must wait on...Congressional Procedures, and for Congresses Approval. I still want to know will there be any Stimulus Benefits for someone like My Husband??? Who has paid Taxes for over 50 years into Social Security... Hang-On-America-United-We-Stand!!!

Ok, political parties aside lets look at this logically:

Option #1: Gov takes money (taxes) from people and business then they decide what to do with the money based on *their* priorities. Some good, some bad. Some things work, some things fail. Some good businesses survive some bad.

Option #2: Gov cuts taxes and people keep more of the money they earned. Each person then "votes" by spending money on what is important to *them*. Now bad, inefficient business will tend to fail and effective, good business will tend to succeed. Here a business will not survive just because they "know" someone or contributed money to someone, or had a law passed to give them an edge.

America did NOT become great because we had a great Gov to do things for us or to *stimulate* us. America became great because of the great idea to keep Gov OUT OF THE WAY and give the people the freedom to create value for each other and solve our problems by creating businesses that SERVE its customers and each other.

The solution to our economic problems is for ALL OF US to get out there and create *value* that people need and stop looking for hand outs or for someone else to fix everything!!

Obama is fixing all this by incluidng illegal aliens in the $500 per worker and $1000 per couple rebate scam.

How is he paying for it? Repealing the Bush tax cuts which provided a $1000 tax rebate for those making under $60,000 (2x for a couple.)

This way ... "tax relief" for those that do not even pay taxes can successfully be turned into WELFARE checks without the negative stigma of being a lout.