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The U.S. economy lost another 598,000 jobs in January, a larger than expected decline that pushed the unemployment rate to 7.6 percent, from 7.2 percent in December.
It is the highest unemployment rate since the fall of 1992, with 11.6 million people out of work -- a headline number that is bound to figure into ongoing debate in the Senate today over the Obama administration's proposed economic stimulus package.
That's 13 consecutive months of job losses, and people are STILL talking about corporate tax cuts???
Congress better get on the ball, COMPROMISE, and get something together that will address the increasingly-bleak job market.
All businesses and individuals should be given a big tax cut so that they can stimulate the economy. People who have more of their money to spend would buy more, businesses could hire more if they had more of their money.
Let's see ... the tax cuts of 2001 and 2003 .... still on the books, still in force, and yet the economy is tanking.
The simplistic answer of "tax cuts" just doesn't do it in today's economy.
"People who have more of their money to spend would buy more..." - people will save it rather than spend it, until confidence is restored, the banking system starts functioning again, and people are working again.
"... businesses could hire more if they had more of their money." - they could, but will they? Maybe so, unless the business is already out of business (Circuit City, Linens 'N Things, etc.)
"While retail chains topple like so many dominos as consumers cut back, the Republicans focus on cutting corporate taxes, as though the problem confronting American businesses was the tax on their profits rather than the fact that, in the absence of sales, they have no profits." - Source
All businesses and individuals should be given a big tax cut so that they can stimulate the economy. People who have more of their money to spend would buy more, businesses could hire more if they had more of their money.
Hey I'm doing my share to stimulate this dead economy. Just paid for cruise tickets to the Bahamas for March.
INDENT] "While retail chains topple like so many dominos as consumers cut back, the Republicans focus on cutting corporate taxes, as though the problem confronting American businesses was the tax on their profits rather than the fact that, in the absence of sales, they have no profits." - Source
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Just like what I said in another thread: if you don't have a job (hence no income), tax cuts aren't going to be of any use to you.
I was looking at my HS yearbook the other day. it is from 1984. There was a page that had news clippings from the 83-84 class year. On top was one that said, "Job less rate drops to 8 1/2 % !!!!"
That's 13 consecutive months of job losses, and people are STILL talking about corporate tax cuts???
Congress better get on the ball, COMPROMISE, and get something together that will address the increasingly-bleak job market.
Think for a second. If corporations are losing money they cut their work force. Tax cuts might help slow their bleeding and slow the job loss rate. The surge in productivity reported this week still has to be processed and factored in. I know it sounds cruel but we may have been over employed at one point with a resulting drop in worker quality. Workers are taking less breaks and being more focused at work these days in order to keep their job and that is a good thing. If labor productivity goes up and labor cost go down that is what can create real economic growth on the other side of this.
In January I paid a contractor w/ a wife and three kids $3000 CASH (he can decide if he wants to pay the gov. it's "fair" share).
Do you think he will report the full amount on his taxes?
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In January I paid a contractor w/ a wife and three kids $3000 CASH (he can decide if he wants to pay the gov. it's "fair" share
).
