Tea Party

[Miss Kitty]

a great exchnge from the stimulus thread

Originally Posted by MattChrist Live
Probably because the President wanted to at least attempt an act of bipartisanship. So, he asked the republicans for any suggestions. Their answer: tax cuts. I know, I was shocked too.

Now, I'm not an economist, but I did listen to Robert Solow on campus (University of Florida) a week or two back. Solow has won the nobel prize for his work on economic growth as well as the National Medal of Science. He argued that we will need another stimulus package by the end of the year because the last package passed comprised of too many tax cuts. Tax cuts don't give you as much bang for the buck as infrastructure or other spending does. Actually, if I recall correctly, tax cuts only provide $.38 for the dollar of stimulus during typical recessions (this is according to Solow, and not me).

So, if anyone's counting down to when we'll see the next stimulus package, Solow's predicting November/December 2009.

I can only assume the Obama administration went ahead with the tax cuts so they could use the "we just passed the largest tax cut for the largest amount of citizens in American history" one-liner. Sadly, that political investment didn't pay off on April 15th as legions of disgruntled McCain and Ron Paul voters took to the streets to protest wasteful spending by dumping perfectly good tons of Lipton on the street. Besides the fact that many of the protestors are probably in the tax bracket which will receive a cut, I'm wondering where their beautiful voices were during the largest expansion of government in recent American history. I.E. The last eight years.

Anyway, I'm going to stop now. I'm studying for finals and decided to let myself get sidetracked into the political forum.

Back to finals...

response from RDeMars...

Well, if being acerbic is required by your professors, congratulations on getting at least a B. Although I am not a tea party protester, I don't know that you can call them all disgruntled McCain and Paul supporters. Additionally, not everybody can be bought with a minor temporary tax cut. As for me, I don't mind paying higher taxes if I feel they are put to good use. Most of the protesters that I know were there not only to protest the spending of this administration, but that it is continuing with the bailouts of the last administration as well. There are some people who do not view everything as either being a Democrat vs. Republician issue. I think that wasteful spending is accomplished equally well by both parties.

I thank RDeMars for hitting this issue on the head for me. I remember back during the election many posts about the opposing side (BOTH SIDES!)were often painted using the old broad brush....I see it happening, still. I know it is easy and helps make your point to lump everyone into one neat little package, but come on! :roll:

Bob...I know there are racist people in this country, but, when people call an entire group of people anti-Obama because he is Black, well, you lose me.

 

[30ashopper]

i love watching retirees, who mostly pay little income tax, but cash social security checks and enjoy the medicare welfare gig, protesting against the non-white, non-republican president.

These folks also lived in a time when the top marginal rate was 80%. So maybe they see things a little differently when young yokels like Obama start talking about raising taxes. These folks paid for FDR's disastrous New Deal and WWII. I think I'll give them the credit they are due, m'kay?

 

[Lynnie]

These folks also lived in a time when the top marginal rate was 80%. So maybe they see things a little differently when young yokels like Obama start talking about raising taxes. These folks paid for FDR's disastrous New Deal and WWII. I think I'll give them the credit they are due, m'kay?

That New Deal? Are we still paying for that?

 

[idlewind]

i love watching retirees, who mostly pay little income tax, but cash social security checks and enjoy the medicare welfare gig, protesting against the non-white, non-republican president.

Touche' Although this particular group does not appear to be specifically targeting the Prez. They seem to hate taxes.

 

[idlewind]

That New Deal? Are we still paying for that?

And the Fair Deal, the Great Frontier, The Great Society, and every other "deal" from Roosevelt - Bush II. And the forecast is calling for even greater torrents of spending from Obama.

 

[Bob]

These folks also lived in a time when the top marginal rate was 80%. So maybe they see things a little differently when young yokels like Obama start talking about raising taxes. These folks paid for FDR's disastrous New Deal and WWII. I think I'll give them the credit they are due, m'kay?

they were babies during the new deal and have taken far more from social security and medicare than they ever kicked in

 

[Bob]

Touche' Although this particular group does not appear to be specifically targeting the Prez. They seem to hate taxes.

i would say their axis of evil is frank/pelosi/reid/obama or anyone limbaugh tells them is evile!!!!

 

[traderx]

they were babies during the new deal and have taken far more from social security and medicare than they ever kicked in

Just goes to show that if you join a Ponzi scheme, you gotta get in early.

 

[traderx]

And the Fair Deal, the Great Frontier, The Great Society, and every other "deal" from Roosevelt - Bush II. And the forecast is calling for even greater torrents of spending from Obama.

And then there are the "hidden" costs. FDR pushed legislation and exective decisions that artifically made unions stronger. Cars, trucks, light bulbs, appliances, freight, etc. all cost more today thanks to the New Deal.

 

[Andy A]

they were babies during the new deal and have taken far more from social security and medicare than they ever kicked in

At the age of 11, I started cutting lawns in our part of Pueblo. By 13, I was checking in a Safeway store and paying into Social Security. It was a different time and a different place compared to today's situation. There was a World War on and everyone that could work did so.

I hope I live to get more out of Social Security than I put in. Seeing that neither my wise, but uneducated father or I was in favor of this program or many of the others FDR put in place, it at least soothes me that I am getting something back. I feel for citizens like you, Bob. You are right, you will probably never get a dime. But don't blame those who have contributed before you entirely. The program could be sound and support all if it hadn't been used as a slush fund for every possible program the government could think of instead of using it as it was intended originally, to support those who retire as a supplemental income. Also, remember it was originally suppose to be a trust fund. We all know how that turned out. Your picture of the world and mine, Bob, are so different that it defies description. I definitely like mine better.