Treasury Secretary Jamie Dimon: Don't Raise Taxes, Obama

Jamie Dimon

JAMIE Dimon would have been the best one to pick for Secretary of Treasury.

THIS MAN IS A VERY SMART MAN WHEN IT COMES TO MONEY. It is the president elect loss.

CONNIE RUPP of AZ @ Nov 23, 2008 18:57:59 PM

Give me a break

"Well accepted fact" that the government spending your money instead of you is "far more direct way of putting it in the economy"? Brillent!

Kimbo of CO @ Nov 04, 2008 10:31:44 AM

Economic effects of Taxes.

Well, its easier to control spending, but government spending unambiguously stimulates the economy more than tax cuts, as spending is a far more direct way of putting money into the economy. This is a well accepted economic fact. The problem is that unlike in the past, the US Dollar is losing value and the government has already overborrowed. One needs to be a deficit hawk to reassure investors, but well directed stimulus at least in the short term is a must. We must reassure investors and those who buy US government debt, but at the same time there needs to be a prioritization of measures that halts the current economic freefall. Whoever is elected, and whoever becomes treasury secretary, has quite a tightrope walk ahead of them.

X liu of OH @ Nov 01, 2008 05:26:45 AM

It's the spending, stupid

Higher taxes are only necessary when higher spending takes place.

Government's are no different from the individual's they govern in that respect.

If you spend more than you make, you are in real and present danger of bankruptcy.

Desperate measures then become the supposed way out, so you try to borrow your way out of debt.

And that is impossible on the face of it.

So, some way or another you must increase income to pay down your debt and equal your outgo.

It is much easier to control the spending than to increase the income whether you are an individual or the government of the many.

HillbillyBill of TN @ Oct 23, 2008 06:59:37 AM