Is Obama Stimulus Plan Also the Biggest Tax Cut Ever?

Lou, I hate that it's true, but we have been sold down the river by the Republicommies. They send our jobs offshore by supporting major tax loopholes that entice corporations to send operations overseas, they vote against bills that would benefit companies that keep jobs in the USA, then they complain that Democrats are "killing jobs". The repigs say, "Oh the debt is just horrible, awful I tell you!" but they were silent and complicit in creating massive debt under Reagan and Bush jr. Then, when there is an opportunity to turn the tide on the debt that they NOW say is so terrible, they vote to give more and further tax cuts to the uber-wealthy, taking billions from the US coffers.

Pokeyone of GA 7:16PM April 17, 2011

There are 2 sides to stimulating the economy. There is the supply side and there is the equally important demand side. You can cut taxes all you want on the business side, (which has already been done) but if there are no buyers to stimulate businesses to create more product, they aren't going to do it (it would be ludicrous for them to do so.) Neither will they hire more employees if they don't anticipate an increase in demand for their product. Don't delude yourself. Poor people and the middle class will spend their money if they are given tax credits. They need the products. And it will help stimulate businesses which will in turn increase production which will in turn create a need for more employees.

Lydia of WA 10:26PM November 06, 2010

Obama's tax cuts were "tax credits" directed at the poor/working class. While I'm all for allowing the poor/working class to keep their money, simply doing so doesn't help stimulate the economy because the working/poor class don't create the jobs! Simply cutting taxes isn't necessarily a good thing. You've got to use tax cuts to create an environment for businesses that allow growth. I.e. giving the janitor a $400 credit doesn't help Abbot stay in business or create new jobs.

Also worth noting, since you seem to be confused, tax credit = pay the government, and they give you some back. Tax cut = keep your money away from the grubby fingers of big brother.

Travis of CA 2:54AM February 13, 2010

Tax cuts cause deficits. Deficits reduce the value of the dollar against other currencies. This is a good thing because a lower dollar means that American products and labor become more attractive on the world market. Thus, the more we spend the more jobs will eventually come our way.

The problem in this recession is that the dollar has actually come out stronger than a lot of other currencies. We need to spend spend spend in order to weaken the dollar and bring more commerce our way.

David Kaye of CA 9:41PM November 05, 2009