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12-17-2010, 12:02 PM   #1
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Tax bill breakdown

Highlights of the tax package passed by Congress - BusinessWeek
Just to "pick on something"..............
QuoteQuote:
A tax break for active investors in foreign-based banking, securities and insurance firms, for 2010 and 2011. Cost: $9.2 billion.
AND the usual comment................
QuoteQuote:
The risk of tinkering with tax rates in a recession is a perfectly legitimate argument. But it admits we're still in a recession. And begs the question as to why tax rates that are lower even than during the Reagan years haven't made the supposed recovery more robust? The Social Security "payroll tax holiday" seems fraught with mischief, ammo for those who want to weaken the program. President Reagan, recall, raised payroll taxes to strengthen Social Security. He did this in a bi-partisan deal and amidst an uncertain recovery.

Meanwhile, state and local governments continue to slash services and jobs, not only because of revenue lost from the recession but 30 years of anti-tax religion. Your tax cuts at work, worsening the downturn. Whatever their love of tax cuts, locally or nationally, Americans are addicted to government services, American corporations depend on corporate welfare and few want to discuss costly military adventures.

So it's a second "stimulus." In their way, Iraq and Afghanistan (and Yemen, Pakistan, etc.) are stimulus, too. On borrowed money. Borrowing to build new infrastructure, better universities and schools, and to seed advanced industries is likely to more than repay its costs. We're not doing that, with ominous consequences for the future. Instead, a hope and a prayer that most Americans will use their meager tax relief to "consume" more, and the very rich will behave differently than they have for the past 10 years.
http://seattletimes.nwsource.com/html/soundeconomywithjontalton/2013703183_n...obama_and.html


Last edited by jeffkrol; 12-17-2010 at 12:14 PM.
12-17-2010, 01:08 PM   #2
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QuoteOriginally posted by jeffkrol Quote
Meanwhile, state and local governments continue to slash services and jobs, not only because of revenue lost from the recession but 30 years of anti-tax religion. Your tax cuts at work, worsening the downturn.
Need we say more?
12-17-2010, 01:11 PM   #3
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apparently....... some aren't listening...... I just picture Lalalalalalala and fingers in ears.
12-17-2010, 01:23 PM   #4
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I thought people in power would be cannibals in a destitute country like my native Romania, ravaged by Communism, but here things are the same.

12-17-2010, 02:11 PM   #5
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QuoteOriginally posted by causey Quote
I thought people in power would be cannibals in a destitute country like my native Romania, ravaged by Communism, but here things are the same.
Sad isn't it.............
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