spectator.org - 1/7/2009
—
"Obama Eyes $310 Billion in Tax Cuts" the headline blares .
The Obama team comes to town to start the new year, and the
run-up to his inauguration, with this announcement. How sly.
This Obama tax cut package is to be part of the broader stimulus
package now estimated to cost $775 ...
online.wsj.com - 1/5/2009
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online.wsj.com —
Obama is considering as much as $310 billion
of tax cuts to individuals and businesses, a move
aimed at attracting Republican support for a stimulus package.
(more)
Obama Eyes $310 Billion Tax Cut
online.wsj.com - 1/5/2009
—
online.wsj.com —
[Obama Eyes $310 Billion Tax Cut] Getty Images
President-elect Barack Obama and congressional Democrats are crafting a
plan to offer as much as $310 billion of tax cuts.
(more)
Obama Eyes $300 Billion Tax Cut
Comments
Blog Reactions
Borrowing is borrowing
SCSUScholars —
... You might say tax cuts are tax cuts, and right now we need them so what the heck? let's borrow from BRIC and devil take the hindmost. But that would be wrong. Tax cuts that just allow consumers to purchase more means just the kind of flow Wolf discusses. We hand a dollar to a family making $30,000 a year, and it spends perhaps $.20 of it on imported goods. That's an old-fashioned Keynesian injection with a real leakage in the circular flow. Peter Ferrara shows that it's the same thing we did last winter. On the other hand you can have a tax rate decrease such ...
Matt Lewis: Good Tax Cuts vs. Pointless Tax Cuts...
Townhall.com Blog's TownHall Blog —
Over at AmSpec , Peter Ferrara hits the nail on the head regarding the effectiveness of tax cuts: Tax cuts do not stimulate the economy by "putting money in people's pockets" which they can then spend, as even some Republicans, including George Bush, mistakenly say. That's an old-fashioned Keynesian strategy, and, if it worked, the same result could be achieved by sending out increased welfare checks, which also puts money in people's pockets, which they can spend. But it doesn't work, because it doesn't do anything to change the basic incentives governing the economy, and ...
Obama's Race to the Past
The American Spectator —
... at all, because Obama considers such rate
reductions ideologically immoral. The centerpiece of the proposal
is the $500 per worker tax credit, which is another tax rebate
giveaway just like the supposed $164 billion stimulus package
that Bush and the Democrats agreed on and adopted at the
beginning of last year. We all know now how well that worked. Why
are we doing the exact same thing now one year later? Where the
heck is the change? As discussed in detail in my column last
week, this and the rest of the Obama supposed tax cut package
will not stimulate ...
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