Wednesday, October 6, 2010

Breathe, But Breathe Slowly

We're obviously in a very difficult economic circumstance (duh, huh?). And a very unique one, too. I say this, folks, in that, not only are we facing a devastating recession, we're also facing record high deficits and a crippling debt. There isn't, in other words, a whole hell of a lot of room for error here....................................................................................................Take the Bush tax-cut scenario; whether to extend them, who to extend them to, etc.. If we don't extend them, we could end up hurting the economy. If, on the other hand, we do extend them, the budget deficit mushrooms even more so. The Republicans want to extend them for everybody. The Democrats want to extend them for everybody making $250,000 and less. What in the hell do should we do?.....................................................................................................Here's what I say. I say that we extend them for another two years. But, instead of cutting it off at $250,00, I say that we up it to $300-500,000. I would do this for several reasons. 1) There are at least some small business owners that DO make over $250,000 (and, no, my friends, they aren't all hedge-fund brokers and people like that - a lot of them are doctors, lawyers, and dentists whose offices employ nurses, medical assistants, paralegals, secretaries, hygienists, etc.). And 2) these people very much DO spend money. It probably isn't the best idea to put a squelching on that activity now....................................................................................................So, what do you think, folks? I like this compromise because it continues to pump money into the economy but it also reduces the deficit by billions.....I don't know, maybe somebody like Jim Webb would agree with me.

10 comments:

w-dervish said...

I strongly disagree with your "compromise". ALL of the tax cuts should be allowed to expire. They are holding back the recovery. We shouldn't even be discussing a "compromise" regarding tax cuts... we should be discussing by just how much taxes are raised. Restoring tax rates to the Clinton level isn't going far enough by a long shot.

Will "take no prisoners" Hart said...

You insist that the stimulus wasn't LARGE ENOUGH, but then you disagree vociferously when it's the people who get to spend their own money.....And you wonder why I'm a moderate.

w-dervish said...

From The Washington Post (9/20/2010)... Why not extend Obama's stimulus tax cuts? by E.J. Dionne

Didn't you say that Mr. Dionne was someone you agreed with?

Beach Bum said...

The stimulus was a huge cluster fuck, yeah it probably saved millions of jobs but you might as well try and prove how many angels can dance on the head of a pin. That money should have gone to a dedicated national infrastructure rebuilding program but as they say that wad has been shot.


As far as Bush's tax cuts are concerned I simply do not know, I see both sides. I'm getting tired of all the whining, we are not a real nation anymore but a bunch of spoiled idiots largely looking out for number one.

Will "take no prisoners" Hart said...

I said that Mr. Dionne was somebody that I liked. I never said that he (or anybody else) was somebody that I agreed with 100% of the time. Fareed Zakaria also says that ALL of the tax-cuts should be allowed to lapse. I like him a heck of a lot, too.....I though, wd and double b, that what I proposed was a fairly reasonable compromise. 1) It gives some "juice" and certainty to the economy. 2) It helps to reduce the deficit by multiple billions. And 3) it socks it to the very wealthy. I'll bet that if I could get Harry Reid and Mitch McConnell on some sodium pentathol, I could get even them to like it.

Rusty Shackleford said...

I'm going to make a wild guess and say that you libs are proud and supportive of Nancy Pelosi.Correct?

Today Ms.Pelosi said that an increase in americans on food stamps is'nt that bad a thing.She went on to say that for every dollar the gov spends in food stamps there is $1.75 put back in the economy and that food stamps and unemployment insurance are good stimulus for job creation.Huh?

The unemployment numbers coming out tomorrow will be over 10%.If the stimulus bill saved or created 3 million jobs (per Joe Biden,) where the hell are they.

Will "take no prisoners" Hart said...

You're talking to wd, correct?

Rusty Shackleford said...

Yea Will.I want to see him try and make custard out of that mustard.

Voltron said...

"The unemployment numbers coming out tomorrow will be over 10%."

Don't bet on it Rusty, they low ball 'em first for the press. Then a couple of weeks later they quietly revise them up so nobody notices.

Anybody else notice that every report on unemployment stats state that the "experts" were surprised, or the numbers were unexpected?

If EVERY freaking report is a surprise to you, are you really still an expert?

Rusty Shackleford said...

Gallup came out today with 10.1% for Sept..