Our income tax laws are driving American citizens and businesses to funnel their liquid assets using tax loopholes to offshore financial centers in places like the Bahamas, Bermuda, Cayman Islands, Panama, and so on and forcing American businesses to send their production and corporate headquarter operations overseas. We now have somewhere between US$12 and US$17 TRILLION in liquid assets "offshored" for tax reasons and American companies are sending their production to Mexico, Canada and the Far East also for tax reasons. Clean up our national and state taxation systems NOW to encourage personal savings and capital investment staying in the USA and our economy will turn around literally in a matter of months as the vast majority of those "offshored" liquid assets return to the USA to flow in our financial system and American companies bring production back to the USA under better tax conditions.
These idiots think that government spending has a net positive multiplier attached to it vis a vis economic growth. If that’s true, then why don’t we borrow and print $40 trillion? Then we’ll REALLY have some growth!
If the other stimulus lost all those jobs why do we need another.?
It wasnt the stimulus that lost the jobs, but the other stimulus didnt produce any jobs either.
We sure dont need another one.
What we need now is for all unspent funds, including those socked away for the new health agency that will hire more affirmative action workers to form a commission to decide who lives and who dies, to be returned.
“Let’s do the math.”
Math and Krugman make strange bedfellows.
For the first time ever Krugman is coherent
There can be no recovery with the threat of enormous tax hikes (expiration of Bush cuts, C&T, health care) and trillion dollar annual deficits from here to eternity. Deep-sixing these things once and for all, cutting federal spending and regulations, and cutting marginal rates would propel us to a robust future. Until then, it will be a “jobless recovery.”
So Krugman wants MORE spending? welp, there goes the coherency of his argument.
“O.K., Thursday’s jobs report settles it. We’re going to need a bigger stimulus.”
Nobel Prize winning idiot.
Obama's people realize this, and they are approaching panic because of it.
There is only one stimulus program that wlll work. The IRS must refund the last 5 to 10 years of income taxes to people with the proviso that the money go to pay off debt. Whatever is left over may be spent or invested as people wish. Then, and only then, will stimulus have any effect.
You have to get rid of the debt first.
He's pretty much gotten everything his addled mind wanted from the current gang in Washinton. We are seeing the results. Instead of admitting that he is a once fairly competent economist, that has now gone completely insane, he is in denial of the obvious facts. His Keynsian prescriptions are fundamentally flawed and totally ineffective in an environment where businesses are scared witless by the transformation of their country into a banana republic (see Chrysler bond holders).
What color is the sky is Krug’s world?