Obama calls for further stimulus, tax hikes for rich

myp · Jun 29, 2011

President Obama called for further stimulus in the form of construction loans as well as extended payroll tax cuts as unemployment figures continue to disappoint. He also proposed tax hikes for the rich to aid with debt woes. The statement comes at a weird time as Congress continues to struggle with the debt ceiling debate and this only adds fuel to the fire.

Thoughts?

obtuseobserver · Jul 6, 2011

The Japanese did this... got them debt at 200% of GDP and a lot of building projects

think these wouldn't get parcelled out to preferred builders based on everything excepting merit of the builder and the merit of the project in particular... how many bridges to know where do you think would get built?

Keynesian spending is not gonna help here... slash spending and start taxing the 42+% with zero income tax liability. I'd even accept raising rates on personal income tax slightly if chained to spending cuts back to 2008 levels....

bauer5152 · Aug 7, 2011

obtuseobserver said:
The Japanese did this... got them debt at 200% of GDP and a lot of building projects

think these wouldn't get parcelled out to preferred builders based on everything excepting merit of the builder and the merit of the project in particular... how many bridges to know where do you think would get built?

Keynesian spending is not gonna help here... slash spending and start taxing the 42+% with zero income tax liability. I'd even accept raising rates on personal income tax slightly if chained to spending cuts back to 2008 levels....

I also think so.

ebony123 · Aug 9, 2011

Hi! I am new to this site. And to tell you, I am a bit disappointed at what our country is becoming. More and more people are getting laid off and our economy isn't getting any better at all.

DodgeFB · Aug 9, 2011

ebony123 said:
Hi! I am new to this site. And to tell you, I am a bit disappointed at what our country is becoming. More and more people are getting laid off and our economy isn't getting any better at all.

I am afraid things will get worse everywhere before it gets better anywhere.

myp · Aug 9, 2011

^I don't know about everywhere, but in a lot of places.

DodgeFB · Aug 9, 2011

myp said:
^I don't know about everywhere, but in a lot of places.

I do know it will get worse at my house before it even gets bad at the homes of all those rich people that the democrats seem to hate so much.

Hair · Aug 9, 2011

myp said:
He also proposed tax hikes for the rich to aid with debt woes.

I've never liked this way of thinking of it. Yes the saying the rich only get richer is very applicable here but look at the bigger picture.

Because the rich can (more likely) pay there taxes, then should they be taxed more?
Because the poor can't (more likely) pay there taxes, then should they be taxed less?

I think to a small extent then yes... But still only a fixed percentage (IE: a fixed percentage) rather a proportion.

DodgeFB · Aug 9, 2011

Hair said:
I've never liked this way of thinking of it. Yes the saying the rich only get richer is very applicable here but look at the bigger picture.

Because the rich can (more likely) pay there taxes, then should they be taxed more?
Because the poor can't (more likely) pay there taxes, then should they be taxed less?

I think to a small extent then yes... But still only a fixed percentage (IE: a fixed percentage) rather a proportion.

I really wish I was rich and could pay more taxes!

Hair · Aug 9, 2011

DodgeFB said:
I really wish I was rich and could pay more taxes!

Would you? Think you earned ?1,000,000 last year. ?50,000 went to the government. Are you not annoyed that they took 50%.

I've been told that if I earn more then ?149.48 per week (on average) then I will start paying 25% tax on my earnings. Now that turns my minimum wage of ?4.30 down to ?3.22 (Hardly worth it...).

DodgeFB · Aug 9, 2011

Hair said:
Would you? Think you earned ?1,000,000 last year. ?50,000 went to the government. Are you not annoyed that they took 50%.

I've been told that if I earn more then ?149.48 per week (on average) then I will start paying 25% tax on my earnings. Now that turns my minimum wage of ?4.30 down to ?3.22 (Hardly worth it...).

I would rather pay tax of 50% on a million dollars, than no tax on ten thousand dollars. Just makes sense to me.

Obama calls for further stimulus, tax hikes for rich

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