McCain's Tax Cut Problem

In our country there are 2 schools of thought. Conservative and Liberal (supposedly Republicans and Democrats).

Republicans want a small, hands off Government, and by very definition to CONSERVE the wealth of our nation. Problem is; we have very little wealth, borrowing from China to pay the Middle East. I argue that a “hands-off” government approach, to the tune of “conservation”, when millions are unemployed, is no place to start. Nothing plus nothing equals nothing! You can’t get out of a hole with out kicking some dirt in. It is also a subject for debate that de-regulation is the cause of the housing market being blind-sided.

We have bailed out the banks, but the individuals loose possibly their homes and certainly their credit. Anyone out there buying groceries on credit? Wanna bet? Proposed republican ideals of Privatization for schools, health care, and even social security puts ALL at risk.

During the great depression, the U.S. president F.D. Roosevelt. Put people to work under the Blue Eagle program. He built roads, bridges, and dams and put people to work. These workers paid income taxes from their paychecks, and got it back at the end of the year. In doing so, the fed had use of that money interest free for the whole year.

Unemployment is out of control, and we have to borrow money, both as individuals, and as a nation. Now a Republican Government wants to cut your taxes, good idea in times of wealth.

Create jobs and tax the masses, give it back at the end of the year. We have proven the “give a man a fish” theory twice this year, with BOTH economic stimulus plans. The other half of the analogy seems to be totally forgotten. How could a tax return, once a year, pay an individual’s weekly grocery bill, let alone the household monthly?

I resolve, “Cutting taxes is a mute point for the unemployed”.

Florida D of FL @ Sep 09, 2008 17:13:11 PM

Corporate tax rates

Re: 13:49:24 pm, above.

Econ 101 -- A "corporate tax rate" cannot be a percentage of the US Gross Domestic Product. Google on "corporate income tax rate." For corporations that make a lot of money, the income tax rate is about 35%. What percent of several trillion dollars is 35%? Non sequitur.

I think you meant to say that the amount of taxes paid by corporations is a small percentage of US Gdp. The reason that percentage is so low is because most corporations don't pay any taxes. ("What? Off with their heads! To the ramparts!") The reason they pay no income taxes is because they have no income. And that's because they spend all the money they make on things that will help them make more money in the future. What kinds of things? Well, salaries of employees, office equipment, maintenance, advertising -- in short, all of the things that keep the American economy sound and provide jobs.

Anyone, other than a socialist, got a problem with that?

Russ of MN @ Sep 05, 2008 12:46:15 PM

The truth about corporate tax rates.

You may want to educate yourself on the truth about America's corporate tax rate (this includes Mr.Pethokoukis) by visiting the Congressional Budget Office website. http://www.cbo.gov/ftpdocs/69xx/doc6902/11-28-CorporateTax.pdf

There you will find that among OECD nations (the major free industialized nations) the United states' corporate tax rate as a percentage of GDP is 1.8% while 39 other nations exceed this rate. In fact the average of 3.4% is almost double that of the United States. Not exactly the second highest on the planet.

of WA

Sep 04, 2008 13:49:24 PM [permalink] [report comment]

OoooH!! SWEAT YOU GOT OWNED JIMMY

ESMEN of FL @ Sep 04, 2008 17:28:40 PM

Will it really grow this economy?

What makes you so sure that if a tax cut would happen the savings would go towards creating new jobs and not to the executives in the form of bonuses or raises? Dell laid off employees made $600 million dollar profit and wall street dumped the stock as if they were going out of business. If there taxes were cut they make $700 million, so tell me again how tax cuts will create jobs?

Jim Myers of GA @ Sep 04, 2008 16:21:59 PM

hoe

of @ Sep 04, 2008 15:24:19 PM

The truth about corporate tax rates

You may want to educate yourself on the truth about America's corporate tax rate (this includes Mr.Pethokoukis) by visiting the Congressional Budget Office website. http://www.cbo.gov/ftpdocs/69xx/doc6902/11-28-CorporateTax.pdf

There you will find that among OECD nations (the major free industialized nations) the United states' corporate tax rate as a percentage of GDP is 1.8% while 39 other nations exceed this rate. In fact the average of 3.4% is almost double that of the United States. Not exactly the second highest on the planet.

of WA @ Sep 04, 2008 13:49:24 PM