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I can't find the link right now, but CNN had a pie chart just the other day with about $250 billion of the stimulus going to tax cuts. It was by far the biggest chunk of spending.
So, what jobs would you suggest get created when businesses are contracting and laying people off? Your tax break solution is a proven non-starter in the short-term of a crisis. Companies just store the money to ride out the storm, just like they tried to do with bailouts. It's not a solution. You'll have to come up with something better.
I think what you don't understand is that many of us are strong supporters of the free market, but we don't let our ideology get in the way of drastic actions in a crisis.
Quite the contrary in the 80s tax cuts caused a huge boom. Part of the reason companies are reluctant to increase hiring now is uncertainty over future tax policy. If you don't know if you are going to get hit with a huge payroll tax increase becasue of health care you are going to wait and see what happens.
There has been tremendous anti business rhetoric lately, most businesses are laying low to see if it is just talk or wil be turned into action.
What tax breaks are you talking about? There have been no business tax breaks, they create jobs.
Temporary jobs are useless by definition because they go away. Would you count on a holiday job to get a mortgage?
Btw - a lot of these "temporary" jobs you keep talking about are people allowed to keep their jobs running state and local governments, as cops, etc...
There's a lot to be said for having the funding to ride out a crisis without destroying your entire workforce and the services it provides.
I think your ideology is getting in the way of cold reality.
Look at the trajectory. You average out the job losses/gains over 3 month rolling periods. That's how you determine trends. I swear this is taught in grade school....
True then December went to 85,000 net job loss so things are getting worse.
Sure, in December we slid back into the negative. One month goes up, one month goes down - these things NEVER move in a straight line. The 12 month trend however is VERY CLEAR - towards improvement - especially when we consider that we started the year with over 700,000 in January.
LOL - what an ignorant statement.
Somehow I doubt someone who got one of those "temporary jobs" agrees with you that it's "useless". Someone without a job will take what he can get - temporary or not.
Unemployment is "temporary" too. You think those folks on unemployment will turn it down because it's only "temporary"?
Get a clue and quit making such obviously stupid statements. It only makes you sound dumb.
Ken
Mmm it clearly is useless for the long term prospects of the economy. Would you buy a car based on a Chrismas job?
Stop with the ad hominem you are usually better and smarter than that.
Quite the contrary in the 80s tax cuts caused a huge boom. Part of the reason companies are reluctant to increase hiring now is uncertainty over future tax policy. If you don't know if you are going to get hit with a huge payroll tax increase becasue of health care you are going to wait and see what happens.
There has been tremendous anti business rhetoric lately, most businesses are laying low to see if it is just talk or wil be turned into action.
I'm sure you realize that the tax rate under Reagan was higher than it is under Obama.
The tax cuts were critically needed in the 80s. Liberalism had run amok in the 60s and 70s, interest rates were outrageous, and the highest tax brackets were mind boggling. We needed someone like Reagan to start hacking away at government.
This isn't the 80s, though. We are emerging from a period of conservatism run amok throughout the last decade and need a president able to use push government back into the market to stabilize it. The market simply doesn't work on its own without regulation and support. We proved that over the past couple decades of slow deregulation of nearly everything.
What exactly are you looking for? Some magic wave of the wand? The November job growth numbers were due in large part to federal support. But the fact that we could get to that point - or even 85,000 jobs lost - in such a short period after almost a million jobs were lost in a month a year before is progress in the right direction.
Not there yet, but progress.
Ah but doesn't Ken tell us that any job loss is the end of the world? LOL.
As long as jobs continue to be lost, or really no substantual job growth there isn't progress.
Ah but doesn't Ken tell us that any job loss is the end of the world? LOL.
As long as jobs continue to be lost, or really no substantual job growth there isn't progress.
No offense, but that's a rather childish view. Economists across the spectrum have estimated that companies wouldn't start hiring until the latter part of '10. That's how all recoveries go. Jobs are the last to come. We've gotten the inventory to turn over, so that's a good step. We have consistent growth...
I just don't understand your perspective. You seem to really think that someone just snaps a finger and suddenly we're a robust economy again. Reagan didn't get unemployment under control until 3 years into his term. Took a beating in the approval ratings as well.
I'm sure you realize that the tax rate under Reagan was higher than it is under Obama.
The tax cuts were critically needed in the 80s. Liberalism had run amok in the 60s and 70s, interest rates were outrageous, and the highest tax brackets were mind boggling. We needed someone like Reagan to start hacking away at government.
This isn't the 80s, though. We are emerging from a period of conservatism run amok throughout the last decade and need a president able to use push government back into the market to stabilize it. The market simply doesn't work on its own without regulation and support. We proved that over the past couple decades of slow deregulation of nearly everything.
No we have not come from conservatism run amok. We have come from a credit bubble.
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