OK libs...

[airdvr 197]

Please tell me what our President is doing to stimulate the economy? How is he using his pulpit to reassure us?

Please don't dent the planet.

Destinations by Roxanne

[Andy9o8 0]

Another "stimulus" thread?
[Jersey] Stimulate 'dis. [/Jersey]

[billvon 2,395]

>Please tell me what our President is doing to stimulate the economy?

Spending money and cutting taxes.

[airdvr 197]

Sorry, not a 'stimulus' thread. I see the markets in a plunge, unemployment rising and I wonder what's being done and said about it. I missed the president's positive message to the citizens. Where's all the 'hope' we were promised?

Please don't dent the planet.

Destinations by Roxanne

[Andy9o8 0]

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Sorry, not a 'stimulus' thread.

Is so.

[marks2065 0]

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>Please tell me what our President is doing to stimulate the economy?

Spending money and cutting taxes.

I see the spending but cutting taxes? what cuts have there been?

[billvon 2,395]

>I see the spending but cutting taxes? what cuts have there been?

The stimulus package as passed contains a quarter trillion dollars in tax cuts. The average american family will see a $1200 a year reduction in taxes.

[airdvr 197]

What's being done for small business?

Please don't dent the planet.

Destinations by Roxanne

[StreetScooby 5]

Quote

The stimulus package as passed contains a quarter trillion dollars in tax cuts.

Isn't it really tax credits, most of which will go to people who already pay minimal taxes?

We are all engines of karma

[billvon 2,395]

>Isn't it really tax credits, most of which will go to people who already pay
>minimal taxes?

Partly. It's also tax deductions for first time home buyers and paycheck tax reduction programs. (i.e. if you don't get a paycheck you don't get a tax break.) That's the "Making Work Pay" program, and ends up being about $800 a year for a typical US family. It also includes tax deductions for more efficient furnaces and more efficient cars (at least the cheaper ones.) Also up to $2500 in tax credits for students.

[Andy9o8 0]

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Quote

The stimulus package as passed contains a quarter trillion dollars in tax cuts.

Isn't it really tax credits, most of which will go to people who already pay minimal taxes?

See, this is what drives me nuts about these stimulus threads. In another stimulus thread, a conservative was bitching that elimination or reduction of a certain type of tax credit was a form of tax hike.

It's all just the age-old competition in the State of Nature over whose ox gets gored. The rest of it, as the Brits say, is just bollocks.

[quade 3]

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I missed the president's positive message to the citizens.

Then watch this;
http://www.youtube.com/watch?v=T8R8jIYWJTA

quade -
The World's Most Boring Skydiver

[GARYC24 3]

This is suppose to be about $13 a week more on each paycheck for me ($800 tax cut), starting in June. Recently, I increased my 401K contributions to a full 10% (from 8% to 10%). I won't feel anything, however since my company matches 30% for the first 10%. And since my company has wage freeze for 1 year, I decided to do this anyways.

[chuckakers 370]

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>I see the spending but cutting taxes? what cuts have there been?

The stimulus package as passed contains a quarter trillion dollars in tax cuts. The average american family will see a $1200 a year reduction in taxes.

Actually it's a tax credit, not a reduction in the tax rate. The difference? We get to pay income tax on that $13 a week!

So I guess we're actually getting $7 or $8 a week. Now that's stimulus! Of course if you're out of work, you'll get an extra $25 a week under the plan.

Nothing like giving incentives NOT to work.

Chuck Akers
D-10855
Houston, TX

[billvon 2,395]

>Nothing like giving incentives NOT to work.

You lose around $800 a year per family in tax cuts if you don't work.

Of course, I can easily see republicans who would rather be out of a job and lose out on a tax cut if it hurts the economy enough to see Obama fail. Good luck with that. The liberals will be supporting them until they'd decide they'd rather see the economy recover, I guess.

[chuckakers 370]

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>Nothing like giving incentives NOT to work.

You lose around $800 a year per family in tax cuts if you don't work.

Of course, I can easily see republicans who would rather be out of a job and lose out on a tax cut if it hurts the economy enough to see Obama fail. Good luck with that. The liberals will be supporting them until they'd decide they'd rather see the economy recover, I guess.

Wrong again, Bill. An overwhelming majority of welfare recipients vote democrat. An overwhelming majority of wealthy people vote republican. Who's supporting who?

Thanks for the laugh, though.

Chuck Akers
D-10855
Houston, TX

[billvon 2,395]

>Who's supporting who?

That's easy. The blue states are supporting the red states. Blue states pay far more in taxes than they get back in federal spending. Red states (i.e. Alaska) get the pork and want the liberal states to pay for it. And we do! Nice of us, eh?

>Thanks for the laugh, though.

No problemo.

[Gawain 0]

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>I see the spending but cutting taxes? what cuts have there been?

The stimulus package as passed contains a quarter trillion dollars in tax cuts. The average american family will see a $1200 a year reduction in taxes.

Check with your accountant, but I believe these are credits, not cuts. Meaning that overall liability is not reduced. Interesting that some can call it a tax cut, when the top marginal rates go up about 5%...top margin will be 40%...almost f**k**g half.

$100/month...oh, so generous...any family that is feeling the pinch will throw that right into savings. The savings rate is already up to 5%...bad juju for a consumer economy.

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[StreetScooby 5]

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An overwhelming majority of wealthy people vote republican.

You might be amazed at the number of wealthy people in NYC and surrounding areas who are die hard democrats. I have never been able to understand it.

We are all engines of karma

[BDashe 0]

over 50% here in california- 9.8% state income tax, plus all the other fun little pay check deductions the government likes to throw in. Sales tax in SFO here is 8.5% as well, you want to stay in a hotel? that'll be 15.35% occupancy tax please. hosting a banquet? 8.5% sales tax on top of a 22% service charge as dictated by the unions...

so fair, so so fair.

So there I was...

Making friends and playing nice since 1983

[chuckakers 370]

Quote

>Who's supporting who?

That's easy. The blue states are supporting the red states. Blue states pay far more in taxes than they get back in federal spending. Red states (i.e. Alaska) get the pork and want the liberal states to pay for it. And we do! Nice of us, eh?

>Thanks for the laugh, though.

No problemo.

For the most part, that's an element of population size. States with large populations obviously pay more in income taxes (New York, California, Illinois). Less populated states don't have enough people to end up paying enough in taxes to make up for federal programs - which are usually not an option for the state to take (Utah, Wyoming, etc).

I wasn't referring to states, anyway. Why not just address my point? In case you forgot, here it is again:

An overwhelming majority of welfare recipients vote democrat. An overwhelming majority of wealthy people vote republican. Who's supporting who?

Hmmm.

Chuck Akers
D-10855
Houston, TX

[chuckakers 370]

Quote

Quote

An overwhelming majority of wealthy people vote republican.

You might be amazed at the number of wealthy people in NYC and surrounding areas who are die hard democrats. I have never been able to understand it.

I think a lot of that is cultural rather than economic. A lot of those folks are yellow dog dems that will ALWAYS vote democrat regrdless of how much they make.

Talk about spiting yourself.

Chuck Akers
D-10855
Houston, TX

[marks2065 0]

Quote

>I see the spending but cutting taxes? what cuts have there been?

The stimulus package as passed contains a quarter trillion dollars in tax cuts. The average american family will see a $1200 a year reduction in taxes.

putting it in my right hand then taking it out of my left isn't a tax cut it is deception.

[wmw999 2,120]

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An overwhelming majority of welfare recipients vote democrat. An overwhelming majority of wealthy people vote republican. Who's supporting who?

Bullshit. At least according to the data.

Just to get things straight (I'm not debating your point, just wondering where the cutoffs are). How are you defining "overwhelming majority of wealthy?"

Is there a cutoff point?

I took a look at a couple of exit polls. I know that data is boring, but it beats making shit up. The only group that overwhelmingly favored McCain (as in more than 60%) was gun owners. Whites did seem to favor him, but blacks favored Obama (more overwhelmingly, but with far less overall influence).

one source
Wikipedia
CNN

This is by no means exhaustive. A lot of polls don't include income data. One that didn't was, however, very interesting nevertheless. From the NY Times . The cool thing is that you can click the "height of bars" line to see how influential each segment is among voters as a whole. For instance, suburbs are almost half of the where-you-live poll.

Wendy W.

There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown)

[billvon 2,395]

>putting it in my right hand then taking it out of my left isn't a tax cut it is deception.

OK then. I'll let you mail me the ~$800 your family will save. That way, nothing will change, and you'll continue to be happy with the Bush tax cuts. I'll even splurge on postage for you.