350 billion dollar tax cut goes through

350 billion dollar tax cut is approved by Bush. Although his original plan was a 726 billion dollar proposal, I think this is one of the greater things he has done. It gets the U.S. as a whole back on track and will significantly lower the unemployment rates. So what does everybody here at AO think? Are you for this like me, or against it like Tom Daschle?

Quote:

---

But Minority Leader Tom Daschle, D-South Dakota, said, "The gimmickry in this bill is enough to make an Enron executive blush."

---

Click here for the article.

Well it would have been better, had it not been chopped up so much. Look, JFK knew it, Reagan knew it and Bush know's it, cutting taxes will lead to an economic boom(not always quick though). I can't speak for you guy's, but anytime i get some of my money back i'm more than pleased. Who are the politician's to tell me that i'm not responsible with my own money? Right, and their responsible spender's, there is more pork_ barrel spending up in Washington than you can shake a stick at. :mad:

i think it's good because like 45 $ a year are going to taxes from work ... people can spend their money for what they want ...or save it ...it's a good idea ....

Cutting taxes without cutting spending. Run the deficit up. Let the private consumer have to compete with the government for loans. Drive the interest rate up. Kill long term investment.

Why not cut government spending on both sides of the Congressional aisles. Let's get rid of pork barrel, whether it's conservative pork or liberal pork. It is the taxpayers money, let them have it but don't spend money you ain't got.

Quote:

---

Let's get rid of pork barrel, whether it's conservative pork or liberal pork.

---

This is what everyone should come to an agreement on, no matter what party your affiliated with.


:)

Quote:

---

Well it would have been better, had it not been chopped up so much.

---

Framework, the reason it got chopped up sooooo much is because of the Democrats, they had to make it such less of a tax cut for them to agree to pass it!

Let's not forget that Congress just passed it's golden parachute law a few years ago. Simply put, you can get a $15,000 a month paycheck for just ONE term in office.


We can start cutting pork there and work our way to thier throat....

:rofl: KorpDeath i heard that!

Quote:

---

Framework, the reason it got chopped up sooooo much is because of the Democrats, they had to make it such less of a tax cut for them to agree to pass it!

---

Your right SS, but it wasnt just the democrat's, there were a handfull of Republicans that played a major role in crippling Bush's proposal.

From what i understand though, it's the 3rd largest of all time as far as tax cut's are concerned. Not too shabby. :p

Cutting taxes on individuals is a good idea. So is reducing govt spending on pb projects. Will it take hold and spread to other areas of the economy. We wait. We hope. We will see.

"And the rich get richer, and the poor get poorer, and the cops look away while the one percent rules America...." - Queensryche

Pessimistic?

I'm not rich, i live with just my mom, and i have a dad in Alabama who doesnt pay child support. Even after all that, i don't believe we should take away even more of the rich people's money, they do pay the most taxes correct?? From what i understand they pay as much as 50 cent on each dollar. Why should we punish those who make money, we should encourage entrepreneurs. :)

less taxes, more disposable income.

:D

what is most odd of this latest bear market meltdown is most of the rich lost money and a whole lot more than the less fortunate in it. Of course they have more to lose to begin with, but my point is - aren't they supposed to smarter than the average person?

This tax cut is more welfare for the rich...memory if you only lose $45 a check in taxes yu oare in the lowest bracket so this will not affect you. Cutting taxes has never helped the econamy, in a bad ecconamy people don't spend hat theyu have they save it, so putting mony in the hands of the wealthy will not help anything....look at how we got out of the depresion..by createing jobs with goverment spending...

But this isn't the industrial revolution, now is it?

Times have changed, successful formulas of the past don't necessarily have any credence in todays world. There are more complicated issues today than in the past.

The problem with economics is it taught as it's own little reality and it's not, politics and social issue permeate economics and yuet they are mostly overlooked by economists.

ok so what should the govts of the world do, besides clever photo ops in France?