Dave, I really don’t want to engage in a long pointless economic discussion, but the old “lower my taxes and the economy will be fixed” mantra is old, and worse, not true. For the average American, “lowering taxes” amounts to a couple hundred more dollars in the pocket. Most people do not run out and spend, but pay down on credit card debt, or put the money in the bank. Lower corporate taxes means their extra money is not re-circulated into more jobs, but either higher dividends for stockholders and CEO’s, or it too, goes back into the company to pay debt, into the bank, or perhaps capital improvements.
We need jobs from the private sector, here in the USA, and until that happens, the economy is still going to lag. Some parts of the stimulus worked, and worked well. The auto industry, which was on life support, is working well enough to pay back their loans, or they’ve already done so. The idea of stimulating industries like new green technology and other industries of the future is a good one, problem being in the doing. Worst thing about the stimulus was that the feds allowed states and municipalities to handle the details, thereby insuring failure. Best thing, thousands of cops, nurses, teachers, etc kept their jobs, not making the whole economy much, much worse.
Oh my god. Dave. Did you just say the “LAFFER CURVE” with a straight face?
Anyone know what happened w/ lech’s kid in the ER?
The additional, unintended effect of the stimulus was to create liquidity which found itself going into the commodities markets.
The rise in crude prices is largely the result of this and that’s the thing that hurts consumers the most.
quote:
Most people do not run out and spend, but pay down on credit card debt, or put the money in the bank.
lol, you are SO wrong. do you even live in America!?
*rob*
Lowering taxes would have at least been a start. What the administration did actually do was ill-conceived and obviously has not worked.
There is actually a body of evidence (Laffer curve and others) that support lowering taxes.
Dave, I really don’t want to engage in a long pointless economic discussion, but the old “lower my taxes and the economy will be fixed” mantra is old, and worse, not true. For the average American, “lowering taxes” amounts to a couple hundred more dollars in the pocket. Most people do not run out and spend, but pay down on credit card debt, or put the money in the bank. Lower corporate taxes means their extra money is not re-circulated into more jobs, but either higher dividends for stockholders and CEO’s, or it too, goes back into the company to pay debt, into the bank, or perhaps capital improvements.
We need jobs from the private sector, here in the USA, and until that happens, the economy is still going to lag. Some parts of the stimulus worked, and worked well. The auto industry, which was on life support, is working well enough to pay back their loans, or they’ve already done so. The idea of stimulating industries like new green technology and other industries of the future is a good one, problem being in the doing. Worst thing about the stimulus was that the feds allowed states and municipalities to handle the details, thereby insuring failure. Best thing, thousands of cops, nurses, teachers, etc kept their jobs, not making the whole economy much, much worse.
By more4less on June 3, 2011 9:53 AM
DIBS, but will it hold at 1300?
If I knew the answer to that I’d have a driver and a Bentley take me into the office every day starting next week.
M4l, there’s a certain Zen-like feeling in being broke. being broke also keeps the shallow people away.
*rob*
“What’d I miss?”
Noki, CGar will fill you in.