Posted on 11/22/2008 9:57:28 AM PST by FocusNexus
Obama said Saturday that he had started work on a sustained, two-year economic stimulus plan designed to create or save 2.5 million jobs, funnel money toward public works programs to repair the country’s failing infrastructure and invest in alternative energy programs.
But as part of a stimulus package, his advisers have discussed letting the Bush tax cuts for the wealthiest Americans expire after 2010 as scheduled.
Politically, by simply letting the tax cuts expire, Mr. Obama would get the benefit of higher revenues in 2011 and beyond to help finance his proposed health care plans without having to take any action himself, and without the Democratic majorities in Congress having to take a vote.
(Excerpt) Read more at nytimes.com ...
Moron.
I wonder how doctors are going to enjoy working for free, whether they like it or not.
As someone who has volunteered in a free clinic, I see how socialism affects the ability to get immediate emergency treatment.
Calmes always was an economic illiterate, dating to her years of writing drivel in the WSJ.
Tax and spend. How original.
Idiots. Somebody tell them about the Laffer Curve.
A two-year plan. Communism is still alive.
How many Americans fly to England when they need surgery? Just curious.
How many rich leaders of other countries fly to America when they need treatment? A lot
Laffer doesn’t work if you don’t keep spending in check.
Bush gave us $500 billion+ in deficits for 7 of his 8 years (over a trillion in his last budget).
Obscene.
Mao had five year plans and Kagame has a 2020 Vision plan modeled after the five year plan but yea, same idea. I think I read another article that said the new administration said it would take five years to “repair” the economy—convenient for a second term. They must be dislosing it in steps so we don’t bonkers.
I understand that, but with Obama’s plan that’ll get ripped apart first.
Brilliant!! What a stroke of genius. /s
Change? This sounds like old school liberal socialism.
Newt Gijngrich: Let’s Have a Real Middle-Class Tax Cut. Obama’s tax credits won’t stimulate the economy.
http://online.wsj.com/article/SB122714465532443171.html?mod=googlenews_wsj
“For the bottom 40% of income earners, who pay no federal income taxes on net today, these refundable income tax credits will not reduce tax liability but instead result in new checks from the federal government for the targeted social purposes. That’s not a tax cut. It’s welfare.
These tax credits will do little or nothing to promote economic growth because they do not reduce marginal tax rates — the rate on the next dollar of income — to provide powerful, meaningful incentives for productive activities such as investment, entrepreneurship and work. “
Obama is using the econmic crisis to rush the US into full socialism.
“I wonder how doctors are going to enjoy working for free, whether they like it or not”
Sometime ago, Canadian physicians in one of the provinces, don’t recall which one, simply packed up and left- sick of working for peanuts.
I work for an IHS contractor, and I see on a daily basis what ‘free’ healthcare is. Emergent care is about all that can be done because of staff shortages- take away pay incentives,as nationalized healthcare will do, and nobody goes to med or dental school or any of the other professions- it’s a recipe for disaster.
And I think even most socialists now know that.
We have the best infrastructure in the world. I do not think that fixing roads and bridges is going to create so much labor and it will be total waste of money. What are the alternative sources of energy that will create millions of jobs? The inefficient wind powers? Anyway these type of project do not require a lot of labor force for manufacturing or installing.
“Obama said Saturday that he had started work on a sustained, two-year economic stimulus plan”
Wow, we’re gonna get a Two Year Plan. Eighty years later, “capitalist” America has the communists beat by three years.
“Let the Bush tax cuts expire, esp. the capital gain and dividend components, and you’ll see lower tax revenues, not higher ones. “
Obama was interviewed about this before the election. The interviewer pointed out to him that increasing capital gains taxes will reduce revenues, not increase them. Obama’s answer was that he still wants to do it for “fairness”, i.e. to redistribute wealth and income. I wish I had saved the quote and the link.
His main purpose is to increase the classes dependent on the government — it’s all about control.
He is trying to copy FDR’s public works programs. Difference between now and then is back then people accepted physical labor. The urban welfare cheats that we have now would rather sell crack then do work.
New Orleans had to bring in illegals to do some of the clean up after katrina because the locals were too lazy to do the work.
Our country has become a joke. Maybe a Nuke going off in DC isn’t a bad idea after all.
John
“Laffer doesn’t work if you don’t keep spending in check.”
It definitely works when you raise taxes, though. I can’t see any way out of diminishing revenues in that case.
“I understand that, but with Obama’s plan that’ll get ripped apart first.”
I wasn’t disagreeing with you just frustrated at how many people this plan will kill.
Why would anyone go through 12 years of intense study and work just to make 60K a year?
“How many rich leaders of other countries fly to America when they need treatment? A lot”
OhioHealth is currently running a television ad praising their doctors and treatments, featuring an Irishman (not a rich leader) who came over for treatment because he couldn’t get the treatment he needed there.
I love Ireland so it’s nothing personal to Ireland...just saying.
Actually Obama said he will only let the tax cuts expire for those making over $250,000, but keep it and give “tax credits” for those making less than that.
But read the Gingrich article I linked in an earlier post about what Obama’s tax policy really means.
http://online.wsj.com/article/SB122714465532443171.html?mod=googlenews_wsj
1976 all over again.
As one of those, I can tell you not very much. I will remove myself from practice and from the roles of those who will be paying the higher taxes when the tax cuts expire.
Got that right, mate!
“The idiots think that people would not notice that they are getting less money in their pay checks when the Bush tax cuts expire”
You underestimate how easy it is to explain that away. We are in a bad economy, the bad economy is Bush’s fault, therefore you getting less money is Bush’s fault. I’m almost certain that while Obama will receive all the credit for a recovery, if there is no recovery during his administration, the MSM will blame Bush specifically and laissez-faire generally.
Iis Obama’s 2 year plan anything like Stalin’s 5 year plans? Answer: Yes actually they’re exactly the same.
Did you hear the glorious news comrade? Chairman Obama has promised 2.5 million new jobs with his 4 year plan. Now, can you spare an extra potato for a comrade?
Gee, what happened to 95% of tax payers will get a tax cut? I’m certain that will disappear as the billions in new programs will be a black hole for tax revenues.
Bookmark time! Better start saving these especially from liberal publications to throw back in liberal’s faces in two years when they continue to blame Bush.
Canadians strongly prefer their system over the US system this has been documented in survey after survey. Almost every negative report you see on Canadian health has been commissioned by US health care groups. Get ready for an enormous amount of information that is going to be presented on the overall superiority of the Canadian system.
Two factors will be stressed Canadians live longer. They have much better rates of infant health when you compare mortality rates of children. I understand that these are generally regarded as really important stats in measuring overall health and well being.
I think it was Gibson during a primary debate.
Politically, by simply letting the tax cuts expire, Mr. Obama would get the benefit of higher revenues in 2011 and beyond to help finance his proposed health care plans without having to take any action himself, and without the Democratic majorities in Congress having to take a vote.Higher taxes did so much for the economy back in 1932.
I am sure that they will blame Bush but I do not think that the majority of voters including many of those who voted for him would buy the Bush fault lies after the end of 2009.
I don’t know enough about the alternative energy stuff but some of the roads and the bridges such as the ones that have fallen in recent years with cars on it need to be replaced. If able bodied citizens who are getting welfare or their mortgage paid off or whatever other debte they have are working for it then maybe as long as the program had a definate cut off date. Once these programs get in, you can’t get rid of them so it would have to have a sunset provision with no extensions allowed on the government tit except for maybe a transition to privitization with a very limited time. Some people on welfare need to learn a skill and this would be a way to do it and if they are earning their money that is better than just sitting at home doing nothing. I of course would laugh my head off at those who voted for this man just because he was black alone and didn’t listen to what he was saying and found that they had to go and work off that welfare check or payment of their mortgage. It would cause a major cultural stir after all of these bailouts with some groups of people that would be hilarious since they would not have seen it coming or it didn’t dawn on them that it meant they had to work on roads and bridges for that free check. But if it is a way to get illegal aliens and their extended chain migrated families work instead of American citizens and legal residents work, I would be furious. Not enough information here though to really have an opinion. It sounds like he doesn’t want us Americans to know what he really intends.
Two factors will be stressed Canadians live longer. They have much better rates of infant health when you compare mortality rates of children.What is the proof for that?
Can we get a list? A run down of this ass hat’s promises? We need to know them, remember them, even love them— so we can repeat them, and remind these idiots who voted for him that he promised to fix the problems he addressed.
Yep I know, but he’ll probably not be able to do that under the new plan.
LOL! Nothing like a bunch of good old Chicago street thugs to “fix” the world.
FDR II
Depression II
We shall see.........
“Bush gave us $500 billion+ in deficits for 7 of his 8 years (over a trillion in his last budget).”
Correct me if I am wrong, but didn’t our representatives give us those deficits. Who is the final arbiter of spending? If you can’t accurately diagnose the problem you dang sure can’t correct it (if that is in fact your intention).
This sounds like make-work for the 2.5 million soon-to-be-unemployed. This will cost twice, once when it is built and second when it has to be ripped out and rebuilt.
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