Bush's Economy-Boost Plan=Free $$!!!

[amazingfantasy15]

Congress will never approve it as there isn't enough money to do it. And that is what Bush wants. He is trying to paint the Democrats as bad guys for the upcoming election season. Here is Bush, trying to hand out 800 bucks to the common man, but those elitist Democrats in Congress say no. The sad part is, because it is an election year, the Democrats may just be stupid enough to call his bluff and then our government would start handing out money we don't have. Both parties suck

Yeah, it's like what just happened in Chicago. For months now the lawmakers have been trying to approve a plan to help the city's mass transit system. Finally a plan that both parties agree on is drawn up and then the governor adds an extra portion that will give senior citizens free rides, now the mass transit system is in debt, but the governor wants a portion of the city to ride for free and he picked senior citizens because no one wants to deny grandma and grandpa a free ride. Plus when he's up for reelection grandma and grandpa, who always vote, will vote for the person that gave them free rides on the el. Playing politics with people's lives, if it wasn't approved, 2,400 people would have been laid off and a boat load of people would lose their way to get to work.

 

[StorminNorman]

The idea works like this:

Give everyone money increasing the deficit by x amount.

Those people invest, spend the money, create jobs, etc. This money will create revenue for the government of y amount.

The President's plan is banking on the fact that y will be larger than x and it strengthens the economy.

I am not a economist - so I am unsure how viable the proposed bill is.

 

[Matt]

The idea works like this:

Give everyone money increasing the deficit by x amount.

Those people invest, spend the money, create jobs, etc. This money will create revenue for the government of y amount.

The President's plan is banking on the fact that y will be larger than x and it strengthens the economy.

I am not a economist - so I am unsure how viable the proposed bill is.

I'm not an economist either...but something tells me you don't fix a deficit by handing out money.

 

[Raiden]

Congress will never approve it as there isn't enough money to do it. And that is what Bush wants. He is trying to paint the Democrats as bad guys for the upcoming election season. Here is Bush, trying to hand out 800 bucks to the common man, but those elitist Democrats in Congress say no. The sad part is, because it is an election year, the Democrats may just be stupid enough to call his bluff and then our government would start handing out money we don't have. Both parties suck

Excellent point. Although the economy is in a major funk right now and a stimulus plan is appealing, both parties should come to their senses and realize that approving such a bill (when U.S. is already deep in debt) is a bad decision, since this package doesn't guarantee that it will pull the economy out of recession, but it will definitely increase the deficit. I support Obama but I don't like his proposal of a stimulus package as well, nor GOP candidates' idea to have even more tax cuts (as if they will really give the economy a jolt).

Unfortunately, it's an election year, and if you don't propose something to fix the economy then it will be used like an ammunition against you by your opponents. Bush is already spending money we don't have on Iraq, so he could care less where the source of the money of this stimulus package comes from.

 

[DarbyD53]

Maybe it's coming from Ross Perot if anyone remembers Dana Carvey's skit on SNL where he said he would write a personal check to cover the LA riots.

Also noted that some in Congress want to extended unemployment from 26 week to 52 weeks.

 

[Ghostvirus]

I am going to be the A-hole here, & say that Bush needs to stop handing out money. Taxes need to be raised, & we need to start getting our sh** together.

 

[The Senator]

At the Joint Economic Committee hearing on Wednesday, all three of the witnesses-- each of whom were renowned economists, and one was the former Secretary of the Treasury-- agreed that tax cuts and tax (p)rebates were essential components of a perceived economic stimulus package which would help those hurt by the suprime mortgage crisis and the rising unemployment rate.

The general consensus was, no free money. And what does the President do? Not only does he offer free money, but hell, he still brushes off the idea that we're in or will be in a recession. Lovely.

 

[The Senator]

Also noted that some in Congress want to extended unemployment from 26 week to 52 weeks.

There are three Ts which the experts at the hearing believed should be followed when Congress formed their stimulus package: The package has to be timely, meaning that it is authorized immediately or as soon as possible; It has to be targeted, meaning that it targets those who will be hurt the most by the economic shortfall; and it has to be temporary, meaning that it will only last until the United States' economy is back on track.

Extending the unemployment benefits to 52 weeks would only be in place until there is a boost in the economy, which, if enacted by summer, would be no later than 2010.

 

[Figs]

I am going to be the A-hole here, & say that Bush needs to stop handing out money. Taxes need to be raised, & we need to start getting our sh** together.

While I do agree we need to get our sh** together, I don't agree with raising taxes. I live in California and it's quite expensive out here as it is.

 

[The Senator]

While I do agree we need to get our sh** together, I don't agree with raising taxes. I live in California and it's quite expensive out here as it is.

Rest assured, raising taxes is pretty much out of the question.

 

[SuBe]

I am going to be the A-hole here, & say that Bush needs to stop handing out money. Taxes need to be raised, & we need to start getting our sh** together.

I'm taking the opposite, Lower Taxes, decrease Federal spending. The lower Taxes would put more money in your pocket which would cause you to spend more, which would increase revenue on Corporate Taxes, which could be used to pay the National Debt. If they decrease spending, you wouldn't have to play catch up later on. If you raise taxes, you have less money in your pocket, which would decrease consumer spending and Consumer Confiences, which would lead to lower spending and Lower Investments.

But Bush does need to stop with the Money hand outs! The money has to come from somewhere and you can't redistrubite it.

 

[sinewave]

the last time bush did this 9/11 happened. this time it's for more than twice the money. money X 2 = 9/11 X 2.

 

[SuBe]

the last time bush did this 9/11 happened. this time it's for more than twice the money. money X 2 = 9/11 X 2.

9/11 happened before the Bush Tax cuts. That was a way to be sure that the Economy didnt crash because of the WWT destruction and lower Consumer Confience.

 

[sinewave]

9/11 happened before the Bush Tax cuts. That was a way to be sure that the Economy didnt crash because of the WWT destruction and lower Consumer Confience.

you sure? i could have sworn that came out before 9/11.

 

[SuBe]

you sure? i could have sworn that came out before 9/11.

I take that back. Bush signed it into law on July 7th, 2001. But, I was at Bootcamp at that time and remembered hearing about the Tax cuts after 9/11.

My bad.

 

[DV8]

we need some kind of corporate Robin Hood to steal some of the money that these huge fkn corporations are making while the majority suffer . . . wtf do some of these @$$holes need all that money for, anyway!? fkn seriously

 

[SuBe]

we need some kind of corporate Robin Hood to steal some of the money that these huge fkn corporations are making while the majority suffer . . . wtf do some of these @$$holes need all that money for, anyway!? fkn seriously

Serously, read through my Fairtax thread. It is very enlightening. Remember, corporations don't pay taxes, they collect taxes from people at the retail level. So, to stealing money from Corporations force them to raise their prices on the Public.

 

[CK1]

Serously, read through my Fairtax thread. It is very enlightening. Remember, corporations don't pay taxes, they collect taxes from people at the retail level. So, to stealing money from Corporations force them to raise their prices on the Public.

I read through your Fairtax thread, it was a great piece. Thanks for educating me!

 

[DV8]

Serously, read through my Fairtax thread. It is very enlightening. Remember, corporations don't pay taxes, they collect taxes from people at the retail level. So, to stealing money from Corporations force them to raise their prices on the Public.

I know it's not really logical, but the distribution of wealth in this country is fkd it's really most of the big wigs and people in government and in power that need a wake up call . . .

 

[DV8]

I'm gonna check it out though, SuBe . . .

 

[Manic]

Let's say I get $800 in the mail. I go out and spend that on video games and lowering my car. Someone explain to me how this will, in the long run, help the economy.

I'm not being a sarcastic *****e, either. Someone give me a best case scenario on how that would help. Because if I do get $800 in the mail, I'm lowering my F'ing Yaris.

 

[The Senator]

Let's say I get $800 in the mail. I go out and spend that on video games and lowering my car. Someone explain to me how this will, in the long run, help the economy.

I'm not being a sarcastic *****e, either. Someone give me a best case scenario on how that would help. Because if I do get $800 in the mail, I'm lowering my F'ing Yaris.

It'll help the economy because, you know, if everyone gets $800, they'll invest it in stocks or companies. Or they'll buy shoes or pants, and it will rev up the economy.

Because some people won't spend it on drugs, or put it in savings, or pay back their debt. No, sir. Not at all.

 

[DV8]

^me too!! I just got a new car and basically cashed out my savings

 

[Manic]

It'll help the economy because, you know, if everyone gets $800, they'll invest it in stocks or companies. Or they'll buy shoes or pants, and it will rev up the economy.

Because some people won't spend it on drugs, or put it in savings, or pay back their debt. No, sir. Not at all.

I can already think of a few people who'd spend $300 worth of that on drugs alone. For like a week.

 

[DV8]

^I'm one of them . . .