Goldman Sachs recommends tax cuts to stimulate economy

CNBC ^ | 8-5-02 | Goldman Sachs

[Matchett-PI]

Goldman Sachs just finished their meeting and recommended that the Bush tax cuts over the next few years be brought forward now in order to stimulate the economy.

They also recommended that the Fed lower interest rates by 50 basis points.

[rudypoot]

Is this why Algore said that the Bush economic team be disbanded and he should start from scratch? /sarcasm

Government cannot create wealth, it can only spend it.

[finnman69]

TAX CUT BUMP.

I loathe all these RATS who keep saying we should raise taxes to pay for their expensive programs. The best part about tax cuts is they keep $$ out of the government's hands. Tax revenue is the ammunition for the Democratic spending war on America.

[Freedom'sWorthIt]

Now we are talking!!!! We had a tax free weekend this past weekend in NC. The malls looked like Christmas!!!!

PEOPLE WANT TAXES LOWERED NOW!!!!!!!!!!!

[StriperSniper]

Has Corzine weighed in on this yet? ;-)

[kinghorse]

No, actually people want Saches lowered now.

[TatieBug]

It's about time somebody started using their brains! Reaction will be interesting and hopefully positive.

[mountaineer]

In the spirit of the moronic Democrats in Congress, I must say, "But we can't afford tax cuts. How will we pay for them?" Blah blah blah.

[1Old Pro]

Of course we need tax cuts and interest rate cuts.

[Freedom'sWorthIt]

Explain or was that a joke?

[Gritty]

Goldman Sachs!!??

Isn't this the same company Rubin and Corzine used to work run?

Things must really be bad. They sound like they are approaching Full Panic Mode!

[TLBSHOW]

BUMP

[Red Jones]

we need a large income tax cut, we need to get rid of capital gains taxes; We need a reagan type review of regulatory burdens on the american economy. Bush' attitude seems to be 'let them eat cake' towards the portions of our population who are not making it economically.

[lodwick]

bttt

[monkeyshine]

I recommend that income taxes be abolished, and that the Fed rate be dropped 100 basis points.

[dtel]

Full Panic Mode bump.

[Linda Liberty]

What Bush will actually do is squat. His tax cuts
to date are so pushed out, they've been part of the
problem. Meanwhile he's signed budget busting spending
bill after spending bill, imposed horrific steel
tariffs, screwed up air transport without providing
any increase in security, put Saddam on notice
that he should ready and deploy
his WMD's and given him 10 months
and counting to do so.
If Bush ultimately presides over the
biggest Bear market since Herbert Hoover,
he will deserve the blame he gets, and we won't see
another republican president in my lifetime.

[aculeus]

Bump.

[BOBTHENAILER]

Great Post. Corzine's sugar daddy just weighs in and hammers the RAT philosophy. Wonder if any newsie will ask Hillary how fiscally responsible she thinks Goldman Sachs is.

Wonder if Timmy Rusted will ask all his RAT buddies on MTP if targeted tax cuts for the middle class is what Goldman Sachs had in mind? Lowering the FED 50 basis points.

Only the rich borrow money right?

[BOBTHENAILER]

I love your optimism.