Obama's New Tax Hikes

[smockers83]

Obama announced new tax hikes on various things involving businesses and capital. So corporate tax rates are going up, capital gains taxes are going up, inheritance taxes are going up, among other taxes.

These new taxes coupled with the monetary policy put in place is scary. With a lot of cash being pumped into the economy and taxes being imposed on businesses during an economic recession is just bad policy. Imposing new taxes during these economic times does not help growth at all. Coupled with the monetary policy, this could produce some scary results, particularly stagflation.

The guy and his economic team are crazy. Most college grads in econ could devise a better overall policy.

[Urabus GodofTraction]

The guy and his economic team are crazy. Most college grads in econ could devise a better overall policy.

Yup.

Even RECENT college grads!

[themadscientist]

I'M SHOCKED! well, not really.

[petastle]

With a lot of cash being pumped into the economy and taxes being imposed on businesses during an economic recession is just bad policy. Imposing new taxes during these economic times does not help growth at all. Coupled with the monetary policy, this could produce some scary results, particularly stagflation.

Since lots of cash in already being pumped into the economy,from where the much needed new funds will come ?of course the businesses who heap the rich harvest during good times,so during bad times they should shell out more.

[smockers83]

Since lots of cash in already being pumped into the economy,from where the much needed new funds will come ?of course the businesses who heap the rich harvest during good times,so during bad times they should shell out more.

Uh, no. There's no logical reason to that thinking whatsoever. If anything, it should be the opposite way around. Why would you punish a company, or all the companies in your economy, more when they're struggling? You just wouldn't, or at least you shouldn't. That would be like the bank saying to people who have lost their jobs that they now need to pay the bank 15% of their deposits due to the fact that they lost their jobs.

[themadscientist]

Since lots of cash in already being pumped into the economy,from where the much needed new funds will come ?of course the businesses who heap the rich harvest during good times,so during bad times they should shell out more.

Wow comrade, hold on there. I suggest we compare incomes. If you make more than me you can pay me the amount it takes to equal it out since it's your idea. If I make more than you, I keep mine.

[marlin29311]

Wow comrade, hold on there. I suggest we compare incomes. If you make more than me you can pay me the amount it takes to equal it out since it's your idea. If I make more than you, I keep mine.

That sounds like a great economic plan to me

[smockers83]

While out in AZ, Obama was talking about skyrocketing health care costs and interest rates and is beginning to lay the ground work for his tax increases and health care plans. He also talked about the level of debt in this country is unsustainable.

One thing he forgot to mention is that when he increases the health care entitlements, it's going to cost us lots of money. Medicare/Medicade is already bankrupt. The money he has infused into the economy affects the interest rates he's talking about. And the public debt level has skyrocketed under Obama as the government is now borrowing 50 cents for every dollar with no spending cuts in sight.

Look what you people got us into that voted for this man. He has no friggin' clue. None. Only 3.66 more years to go before this is over. As a younger person of this country, I can only hope the goals of this man are reversed much, much sooner than later, if at all.

[JustinStrife]

Thanks to rising costs in sales tax here in California, I go out of my way to buy everything out of state and online. Just saved 119 dollars today for Nitto tires for the Vette by buying from Discount Tire Direct vs their regular store. Screw the Government.

[HashiriyaS14]

Thanks to rising costs in sales tax here in California, I go out of my way to buy everything out of state and online. Just saved 119 dollars today for Nitto tires for the Vette by buying from Discount Tire Direct vs their regular store. Screw the Government.

You live in California and you're complaining about high taxes? You guys are already operating deep in the red, the People's Republic of CA needs those sales tax dollars you're avoiding, LOL.

Move.

[hannibal]

While out in AZ, Obama was talking about skyrocketing health care costs and interest rates and is beginning to lay the ground work for his tax increases and health care plans. He also talked about the level of debt in this country is unsustainable.

One thing he forgot to mention is that when he increases the health care entitlements, it's going to cost us lots of money. Medicare/Medicade is already bankrupt. The money he has infused into the economy affects the interest rates he's talking about. And the public debt level has skyrocketed under Obama as the government is now borrowing 50 cents for every dollar with no spending cuts in sight.

Look what you people got us into that voted for this man. He has no friggin' clue. None. Only 3.66 more years to go before this is over. As a younger person of this country, I can only hope the goals of this man are reversed much, much sooner than later, if at all.

I believe the idea is to provide healthier workers for our economy. Healthy people are more productive, which should increase output, and the government gets the additional tax revenue.

The idea of reducing taxes for businesses seeks a similar goal. If the companies have more money, they'll hire more and increase output. However, experiences from the first round of bailouts show that the banks took the money and then held on to it. This completely interrupted the desired effect. We were trying to provide increased access to credit, not strenghthen a firm's balance sheet.

Under the first plan, people get healthy. In the second plan, companies get "healthy". All else equal, I support a healthy population over healthy companies.

EDIT: too many typos...
Modified by hannibal at 9:46 PM 5/16/2009

[antsloveme]

Obama ROX!

The rich have too much, we need to determine an average income for the US and give every citizen over the age of 18 the same salary. Imagine the amount of stimulating the environment would have if those who are young could buy what they want.

[hannibal]

Thats a great idea. Who would go to med school or law school if they got paid the same as a janitor or delivery driver?

I sense some sarcasm in your post, and I hope you see some in mine...

[themadscientist]

Obama ROX!

The rich have too much, we need to determine an average income for the US and give every citizen over the age of 18 the same salary. Imagine the amount of stimulating the environment would have if those who are young could buy what they want.

Please be attempting sarcasm.

[antsloveme]

Thats a great idea. Who would go to med school or law school if they got paid the same as a janitor or delivery driver?

I sense some sarcasm in your post, and I hope you see some in mine...

hmmmmm.....

The Gov would fix it. Look at RomneyCare and the requirements that "the people" must see a GP. Since there are not enough GP's the Gov can simply force med students to become GP instead of going into specialty medicine where the money is.

Everything makes sense when the Gov is saving us.

Sarcasm is strong when discussing anything called Universal.......

[Urabus GodofTraction]

You live in California and you're complaining about high taxes? You guys are already operating deep in the red, the People's Republic of CA needs those sales tax dollars you're avoiding, LOL.

Move.

Hi Chris!

Maybe the PRC needs to stop spending!

[HashiriyaS14]

Hi Chris!

Maybe the PRC needs to stop spending!

HI CHARLIE

Uh....I completely agree? I don't think it's going to happen so I feel like Justin should just give up and move to a non-communist State, but in theory, yeah, you'll get no argument from me.

[themadscientist]

Hi Chris!

HI CHARLIE

There's a lot of love in this room.