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The idea is that giving working people more money in their pockets is stimulative and raises demand and consumption and thus lifts the economy. The fixation with debts during an economic slump is misplaced. Grow the economy and debts will take care of themselves.
Well that 2% didn't do it and it was in place for one year and even extended.
So now it's gone.
FICA is for us and I just can't believe the amount of moaning and groaning going on for a mere $20/week for a $50K/year salary.
The idea is that giving working people more money in their pockets is stimulative and raises demand and consumption and thus lifts the economy. The fixation with debts during an economic slump is misplaced. Grow the economy and debts will take care of themselves.
Well, we tried it and it didn't work. What's next?
Housing market alone can lift up the whole economy, and the housing stats indicate a recovery. Perhaps the WH can learn from the GOP Congress and do nothing for a while.
Well, we tried it and it didn't work. What's next?
Housing market alone can lift up the whole economy, and the housing stats indicate a recovery. Perhaps the WH can learn from the GOP Congress and do nothing for a while.
How do you know it didn't work? According to those that study it, it lifted GDP by 0.8%.
They are when you take money from one person and give it to another. That's government sponsored theft.
That's government.
That's what governments do.
When Henry II taxed the nobles to provide a system of courts in England, he was redistributing wealth. Taking money from one group of people, to provide a service to another group of people. Governments exist to provide for the welfare of the people, and in order to do that, governments have to have access to capital. Generally in the form of taxes. They take from those who have capital to provide for those who do not. Funding an army for defense? Public schools? Sanitation and sewage systems? Courts? Governments can't take capital from the people who don't have capital. They have to take capital from the people who do have it. And since the poor are always with us, they benefit from the services the government provides, even though they lack the resources to pay for those benefits. To whine that they are stealing from you is illogical. You benefit as well, directly or indirectly, from a society that values security, education, health, and justice. And a society that values these things value them for everyone, not just the people who can afford them.
One side of American politics considers the modern welfare state — a private-enterprise economy, but one in which society’s winners are taxed to pay for a social safety net — morally superior to the capitalism red in tooth and claw we had before the New Deal. It’s only right, this side believes, for the affluent to help the less fortunate.
The other side believes that people have a right to keep what they earn, and that taxing them to support others, no matter how needy, amounts to theft. That’s what lies behind the modern right’s fondness for violent rhetoric: many activists on the right really do see taxes and regulation as tyrannical impositions on their liberty.
There’s no middle ground between these views. One side saw health reform, with its subsidized extension of coverage to the uninsured, as fulfilling a moral imperative: wealthy nations, it believed, have an obligation to provide all their citizens with essential care. The other side saw the same reform as a moral outrage, an assault on the right of Americans to spend their money as they choose.
This deep divide in American political morality — for that’s what it amounts to — is a relatively recent development. Commentators who pine for the days of civility and bipartisanship are, whether they realize it or not, pining for the days when the Republican Party accepted the legitimacy of the welfare state, and was even willing to contemplate expanding it. As many analysts have noted, the Obama health reform — whose passage was met with vandalism and death threats against members of Congress — was modeled on Republican plans from the 1990s.
But that was then. Today’s G.O.P. sees much of what the modern federal government does as illegitimate; today’s Democratic Party does not. When people talk about partisan differences, they often seem to be implying that these differences are petty, matters that could be resolved with a bit of good will. But what we’re talking about here is a fundamental disagreement about the proper role of government.
How do you know it didn't work? According to those that study it, it lifted GDP by 0.8%.
You're looking at one side of this.
The tax holiday was funded by taking on more debt.
Nothing was cut to finance this.
Now we have more debt along with interest which you are not showing.
You need to show the NET.
We borrowed to finance that cut so we have debt + interest which no one is taking into account.
instead you jump for joy that the GDP rose 8/10 of 1% ? What was the cost though ?
Well I found it..it cost the government $120 billion + accruing interest to finance that FICA holiday which increased the GDP by what..$12 billion ?
So we borrowed $120 billion to make $12 billion and you're jumping for joy that it worked ? http://www.huffingtonpost.com/rj-esk..._b_793526.html
The 2% tax holiday expires in 2012, an election year. Meanwhile the government debt will have increased by $120 billion, the amount that will be paid into Social Security to cover the cost of this "holiday.
Last edited by HappyTexan; 01-03-2013 at 08:14 AM..
I would venture to say that probably half of Obama's voter base were deadbeats. The right doesn't want to pay more taxes from the money they earn by working and investing and the left that lives off of government wants more free stuff. If there were that many right wing deadbeats Romney would have won the election.
Ahhh, you gotta love the bozos and cretins we've elected to government, and some of them weren't even elected they just kind of got around the elections. Half of them complain about the crap on the rug they took, the other half complain that the crap on the rug they took wasn't nearly big enough. And we get to clean it up and say what a great job they did.
So I'll pay another $10 or $15 dollars a week in taxes and get nothing to show for it. I'm already paying more for health care and gas and food. So my vote gets thrown in the trash and gets changed to being for somebody else that I voted against. So the government wants to push me and many tens of millions others like me around. So what. So the deficit and debt will continue to explode and we'll ruin the economy completely and have a total collapse. Its what they want. More and more want a free ride and think they'll get one. The fools.
Just sit back and ignore them is my advice. Live your lives like DC doesn't exist, forget these bozos exist.
Assuming "your retirement money" you are referring to Social Security and Medicare, according to many it's not "your" money and when you do collect it you are stealing from the government.
Ahhh, you gotta love the bozos and cretins we've elected to government, and some of them weren't even elected they just kind of got around the elections. Half of them complain about the crap on the rug they took, the other half complain that the crap on the rug they took wasn't nearly big enough. And we get to clean it up and say what a great job they did. So I'll pay another $10 or $15 dollars a week in taxes and get nothing to show for it. I'm already paying more for health care and gas and food. So my vote gets thrown in the trash and gets changed to being for somebody else that I voted against. So the government wants to push me and many tens of millions others like me around. So what. So the deficit and debt will continue to explode and we'll ruin the economy completely and have a total collapse. Its what they want. More and more want a free ride and think they'll get one. The fools.
Just sit back and ignore them is my advice. Live your lives like DC doesn't exist, forget these bozos exist.
That's FICA my friend. When you turn 62/65 you'll be looking for it.
It's for your future, all our futures.
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