Obama Stimulus Plan: Another Vote Against

Keep 'Em Coming

I'm opposed to all bailouts, but if we're going to spend another $500 to $1,000 billion, this seems like a more creative plan than the boondoggle Obama is offering. Hopefully the economists on his team will win out over the dilettante president and we'll get something based on something other than politics and failed Keynesianism.

I'm not clear what a temporary cessation of the capital gains tax would accomplish, however. That's a terribly narrow timeframe for meaningful investment and, unlike past cuts in the capital gains rate, wouldn't have the politically attractive side benefit of increased tax revenue to the government. I suppose it would allow investors to move their money from poor investments to much more promising ones, without triggering a tax event, but I wonder how many people have actual capital GAINS to worry about at this time.

I wonder if it wouldn't be a better idea to increase the maximum allowable capital loss write-off from the current $3,000 per year level to something like $15,000 per year.

Dean of MN @ Dec 03, 2008 15:52:47 PM

yea right

quote:once we get people (get people)get it with lower mortgage payments,they will spend again .wrong what will they spend it with no jobs. their looks? please look at the root of the problem folks.it dosnt matter how low the payments go its not going to help without jobs. i say cut out the freetrade bring our jobs back and let the foreign countries worrie about themselves.they didnt worrie about us when they was takeing all of our jobs away.lets not cover up our problems with stimulus and bailouts.tell me how a 300 dollar stimulus check will free up this mess were in.when each family spends it up within days because of high prices.then what?were right back to square 1 why cant all of these over educated idiots see this isnt going to work.it dont take a rocket scientist to figure this out .

jhughes of TN @ Dec 03, 2008 11:47:05 AM

Right On

Glad to see someone else is pushing the "lower mortgage rates" agenda. I found this site www.everymanplan.com hit the nail on the head. Once we get people with lower mortgage payments, they will spend again

Bii in Chicago of IL @ Dec 03, 2008 10:27:22 AM