A tax cut for consumers?

[Pier]

I came across this interesting article....

http://www.tompaine.com/feature.cfm/ID/6772

Now the tax cuts the GOP is proposing, as usual, benefit the rich and businesses, but an interesting premise is laid here to cut the payroll tax/FICA, which would give consumers and the middle class immediate benefits.

Unlike the traditional voodoo economics of the GOP, this one might work to boost the economy because 1. consumers drive spending since businesses wait for consumers to buy before hiring 2. consumers tend to spend their money instead of saving it, especially an immediate gain, 3. a payroll tax cut puts more money into the consumers' pockets immediately which will therefore 4. cause them to spend it, especially now during the holidays.

Hmm, even I like this plan..... :D

[opus512]

If it helps you and me, we'll never see it.

[EG]

ummmm

the money you got back last year was from payroll taxes......
it was just an early rebate on them

[Ambience]

This looks like a job for !!!Captain Freedom!!!

[PaleDuke]

Originally posted by Ambience
This looks like a job for !!!Captain Freedom!!!


wOOt !

!!!Captain Freedom!!! probably still has some of his $ 300 rebate in savings...afterall savings can be loaned out and provide an economic boost of exponential proportions ! :nana:

[EG]

Originally posted by Pier
I came across this interesting article....

http://www.tompaine.com/feature.cfm/ID/6772

Now the tax cuts the GOP is proposing, as usual, benefit the rich and businesses, but an interesting premise is laid here to cut the payroll tax/FICA, which would give consumers and the middle class immediate benefits.

Unlike the traditional voodoo economics of the GOP, this one might work to boost the economy because 1. consumers drive spending since businesses wait for consumers to buy before hiring 2. consumers tend to spend their money instead of saving it, especially an immediate gain, 3. a payroll tax cut puts more money into the consumers' pockets immediately which will therefore 4. cause them to spend it, especially now during the holidays.

Hmm, even I like this plan..... :D

Well the democrats dont beleive in Tax cuts so

nyah...nyha..nyah :P

[msan_msw]

I'm no economics expert, but Alan Greenspan is, and last night on CSPAN he said, "Tax cuts and short term [something something] should not replace structural reform". The gist I got is that these tax cuts are poo and more show than substance.

[Sir_Gallahad]

Originally posted by Pier
I came across this interesting article....

http://www.tompaine.com/feature.cfm/ID/6772

Now the tax cuts the GOP is proposing, as usual, benefit the rich and businesses, but an interesting premise is laid here to cut the payroll tax/FICA, which would give consumers and the middle class immediate benefits.

Unlike the traditional voodoo economics of the GOP, this one might work to boost the economy because 1. consumers drive spending since businesses wait for consumers to buy before hiring 2. consumers tend to spend their money instead of saving it, especially an immediate gain, 3. a payroll tax cut puts more money into the consumers' pockets immediately which will therefore 4. cause them to spend it, especially now during the holidays.

Hmm, even I like this plan..... :D

Tax cut for consumers?!!! Indiana sales tax is going UP in a week! :mad: lol

[ukstatboy]

Originally posted by PaleDuke



wOOt !

!!!Captain Freedom!!! probably still has some of his $ 300 rebate in savings...afterall savings can be loaned out and provide an economic boost of exponential proportions ! :nana:

Ahhh, the $300 rebate. George thought that I'd spend it on penny whistles and moon pies to boost the economy, but I sure fooled him. It's out back in Mason jars in the cold, cold earth.

The idea of reducing the amount of FICA taken out of the paycheck seems nice, since I think that I can spend my money on better things that what the government does. But, if they give me a break there, they'll just find some other place to snatch the money back. Goverment programs rarely get more efficient and smaller.