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Obama Eyes $310 Billion Tax Cut



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- Jazzcomedian See Profile I'm a Fan of Jazzcomedian permalink

A watched pot never boils. Trying to evaluate PE Obama's presidency, or everything he proposes on a minute by minute basis is counterproductive and fruitless. I'm gonna let his economic team create the plan they feel is necessary to address our problems, let the Congress make their recommendations and pass it, and then I'll see if it's the right plan or the wrong plan. PE Obama has promised transparency in the way the money is spent, and if he holds to that promise, it will be a good thing, and much needed to restore some public trust in our government. Personally, I think it's time for true bi-partisan solutions, so if he has to offer some smart tax cuts to business to get Republicans on board to go along with his spending plans, that's totally cool with me. Neither side has all the answers in my opinion.

Although everybody agrees that something needs to be done, nobody knows what is the absolutely correct approach. I just read the proposals of eleven different esteemed academic economists in the WSJ about how to get out of this mess, and they were all over the place with their solutions. No consensus whatsoever. We'll just have to see if what PE Obama's teams comes up with makes a positive difference in a quantifiable way. That's the only time we'll have enough evidence to properly evaluate the success or failure of his stimulus plan. At this point conjecture is nothing but conjecture.

    Reply    Favorite    Flag as abusive Posted 04:16 PM on 01/05/2009
- jonmonbuckeye See Profile I'm a Fan of jonmonbuckeye permalink

Wow, I guess Obama did learn a thing or two from the Republicans. Instead of giving Americans the money (chump change actually) through a reduction in the payroll withholding, the net effect will be zero to most Americans (Notice it doesn't do anything to help the unemployed). Thanks to inflation, you won't notice any change. Yet, those who feverently believe "change" has come will not mention the fact that this faux tax "cut" will do absolutely nothing to stimulate the economy.

500 bucks? Wow... an extra 20 bucks each paycheck. ooh, what should I do with that? I know, I'll take my family to McDonalds for a meal on the government or maybe I'll use it to give Obama another donation so I will quit getting those annoying emails from David Plough asking me for more money.

If this is the best Obama can do, then I am very sorry that I voted for him. Looks like its going to be another long 4 years...

    Reply    Favorite    Flag as abusive Posted 12:21 PM on 01/05/2009
- ForObamaInDallas See Profile I'm a Fan of ForObamaInDallas permalink

For alot of people that $20 bucks means something. Maybe not to you, but it does to others. It might mean being able to buy a little bit more meat or chicken for meals, an extra vegetable or two. Maybe some cereal so a kid can go to school having had breakfast.

    Reply    Favorite    Flag as abusive Posted 12:29 PM on 01/05/2009
- jonmonbuckeye See Profile I'm a Fan of jonmonbuckeye permalink

You don't get it, do you? The net impact will be ZERO! Annualized inflation will nullify any gain that you "think" you will be seeing in your paycheck. It's fluff! Bogus! Menutia!

Look you can scrounge around for the scraps and be grateful for it, but that is NOT what I voted for. The only ones who will be receiving a "stimulus" will be companies like Catapillar and John Deere (gee, both Illinois companies). You can't just target one sector of the economy and magically think it will spread out across all industries. The investment amount will be minuscule and will do nothing to spur on the other core sectors of the economy (excluding energy and health care).

    Reply    Favorite    Flag as abusive Posted 12:43 PM on 01/05/2009
- mervr1 See Profile I'm a Fan of mervr1 permalink

It's hilarious to read everyone's negative opinions on a plan that hasn't taken effect yet or a President who hasn't implemented his plan yet, which I'm sure will be adjusted again to new economic patterns between now and the time it's actually completed.

Republicans who didn't vote for Obama couldn't care less about the plan, because they're looking for any excuse for the next 4 years and Democrats who did but have negative comments need to sit back and chill until the man actually is sworn in and can implement policies that can change this country for the better.

Remember it took us 8 years to get like this, don't expect overnight miracles to correct this mess that everyone created.