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Stimulus Package: Tax Cuts Versus Spending

Discussion in 'Political Conversation and Debate' started by PlanetFrnd, Jan 27, 2009.

  1. fourteenandoh

    fourteenandoh My swing feels like an unfolding lawn chair.

    you know whats awesome? we are now throwing around the term "trillions" the way we used to throw around "millions" a year ago.
  2. Gatorubet

    Gatorubet Banned

    "A billion here, a billion there, and pretty soon you're talking real money." - Sen Everette Dirkson
  3. Raiders of the Lost Taxpayer - WSJ.com
    they slapped video equipment freindly verbiage on the TARP after it failed and all of a sudden round two passed with the support of the tv media and hollywood. now include a 50% write off and see what happens i guess.

    Protectionism as Stimulus - WSJ.com

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  5. DaytonBuck

    DaytonBuck I've always liked them

    Los Angeles Times

    Why would we need profits in a capitalist system?
  6. “Cash For Clunkers” Drives into Reality ? The Foundry

    Government Wants to Help You Buy a New Car - U.S. News Rankings and Reviews

  7. PlanetFrnd

    PlanetFrnd Newbie

    For the record, I didn't mean you. I'd say my comment was directed 15% at Jake, 8% at Mike and 77% at ekeen.

    Pretty sure he meant that they are NOT profitable, and therefore should not be paying bonuses. Actually, very sure.
  8. Washington Times - EXCLUSIVE: Stimulus has plum for lawmaker's son

    Best Buckeye likes this.
  9. MaxBuck

    MaxBuck 2014 National Champions!

    This whole stimulus package is going in completely the wrong direction. Instead of answering the question, "Where will our spending do the most to boost the economy," it's on "Where can I best feather my own nest, those of my friends, and those of my constituents." :grr:
    jimotis4heisman likes this.
  10. Southpaw Stone

    Southpaw Stone 'Chillin on the Beach

    I wonder if Obama will invite Mitch McConnel over anytime soon during movie night to discuss the peril of consumption loans versus self-liquidating assets.

    So much for the spirit of bipartisanship.
  11. DaytonBuck

    DaytonBuck I've always liked them

    This is surprising to you?
  12. Gatorubet

    Gatorubet Banned

    What Dayton said, with the exception that getting the vapors about a bill before it is sent to conference to work out the differences with the Senate version is jumping the gun. Good observations and worthy of discussion mind you, but the House version is not the done deal, and there is plenty of opportunities for further revision.
  13. DaytonBuck

    DaytonBuck I've always liked them

    Porkulus may get a slight improvement after they conference but I'm not holding out out hope
  14. Best Buckeye

    Best Buckeye Pretending I'm a pleasant person is exhausting Staff Member

  15. Wingate1217

    Wingate1217 Oh, double rainbow, it's so intense!!

    One senator's take on parts of the bill.......

    Sen. James Inhofe, R-Okla., says the nearly trillion-dollar stimulus package the House of Representatives is heaping on Americans is nothing more than a huge spending bill with projects in it for people the Democratic-led Congress wants to buy off.

    Inhofe, who says the bill will do nothing to stimulate the economy, also tells Newsmax TV that the superfluous bill will provide tax refunds to people who don't pay any taxes, and would even give government checks of up to $1,000 to illegal aliens.

    ?You have a stimulus bill that's supposed to stimulate the economy,? Inhofe explains. ?We know how to do that. We did it under John Kennedy; we did it under Ronald Reagan. We know what it does and what you have to do for capital gains and for all these things to open up the economy. But this [stimulus package] doesn't do any of that. There?s so many things in there that are just bad.?

    Inhofe notes that a lot of the pork lies in projects that have nothing to do with stimulating the U.S. economy, including:

    $30 billion on federal government building improvements

    $1.5 billion for homelessness prevention

    $650 million for digital TV coupons

    $650 million for wildlife management

    $600 million for the federal government to buy new green cars

    $570 million for climate change

    $75 million for smoking cessation activities

    ?The only tax decreases they have here are refundable tax credits,? Inhofe explains. ?And that's really just giving refunds to people who don't pay taxes. That has nothing to do with stimulating the economy.?

    One of Inhofe?s biggest objections to the $880 billion bill is that there is only $30 billion that goes toward some of what he believes are the real problems that should be addressed, such as roads and highways.

    Inhofe says he personally met with President Barack Obama Monday to point out that the $30 billion earmarked for infrastructure represents only 3 percent of the total amount of the spending bill.

    ?When I told him that, he didn't believe it was that small a percentage,? Inhofe says. ?I said, ?If we find that I'm right and you're wrong, would you go up to 10 percent?? And he said, ?I'd certainly look at that.? Since then, he realizes that I am right. As far as roads and highways, it's $30 billion, and then a few [dollars] for water infrastructure.?

    Inhofe believes it is the infrastructure improvements that could provide real jobs, while spurring the economy.

    Newsmax.com - Sen. Inhofe: Stimulus Bill a &#39Big Buyoff&#39
  16. DaytonBuck

    DaytonBuck I've always liked them

    Look let's call a spade a spade. Look at California and New Jersey. You elect a bunch of liberal Democrats and give nearly complete control of government this is what your going to get. I have no idea why Max and Gator think there's some principled way out of this. 5% of this bill is infrastructure spending. Much of this bill is spread out past the next 3 years and it creates a budget line that'll but tough to ever get rid of.

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