Thread: Obama wants stimulus spending to offset 'drag on economy from Obama's proposed tax

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  1. #1 Obama wants stimulus spending to offset 'drag on economy from Obama's proposed tax 
    PORCUS MAXIMUS Rockntractor's Avatar
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    Why Obama is pushing for stimulus in 'fiscal cliff' deal
    President Obama's opening offer in 'fiscal cliff' talks includes $255 billion in stimulus spending – tax cuts, incentives, and more. It could be a bargaining ploy or a bid to offset rising taxes on the rich.
    By Ron Scherer | Christian Science Monitor
    How about a little government economic stimulus?

    That may sound incongruous considering the budget deficit and the push from Republicans to cut government spending.

    But President Obama’s first offer to avoid going over the "fiscal cliff" holds out the hope of at least some stimulus. This would include extending the 2 percentage point Social Security payroll tax cut, boosting a tax incentive to businesses, establishing a $50 billion bank for long-term infrastructure projects, and extending unemployment benefits.
    Read More>http://news.yahoo.com/why-obama-push...033547060.html
    How is obama working out for you?
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  2. #2  
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    Quote Originally Posted by Rockntractor View Post
    Why Obama is pushing for stimulus in 'fiscal cliff' deal
    President Obama's opening offer in 'fiscal cliff' talks includes $255 billion in stimulus spending – tax cuts, incentives, and more. It could be a bargaining ploy or a bid to offset rising taxes on the rich.
    By Ron Scherer | Christian Science Monitor
    How about a little government economic stimulus?

    That may sound incongruous considering the budget deficit and the push from Republicans to cut government spending.

    But President Obama’s first offer to avoid going over the "fiscal cliff" holds out the hope of at least some stimulus. This would include extending the 2 percentage point Social Security payroll tax cut, boosting a tax incentive to businesses, establishing a $50 billion bank for long-term infrastructure projects, and extending unemployment benefits.
    Read More>http://news.yahoo.com/why-obama-push...033547060.html
    Not to veer too far off course but why is it Republican's elimination of tax deductions to increase revenue won't have the same drag on the economy?
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    LTC Member Odysseus's Avatar
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    Quote Originally Posted by PeterS View Post
    Not to veer too far off course but why is it Republican's elimination of tax deductions to increase revenue won't have the same drag on the economy?
    For one thing, they aren't going to be spending more on stimulus. The Republican goal is spending cuts, not increased debt.
    --Odysseus
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  4. #4  
    Senior Member LukeEDay's Avatar
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    Oh boy, borrow more money from China. We will be $20 trillion in debt by 2014 ...

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