Re: Reuters: Obama's Latest 'Stimulus' May Do Little to Help the Unemployed
The 1 % wealthiest are responsible for 38% of all revenue to the Feds.
The 5 % wealthiest pay in a combined 59% of all revenue to the Feds.
The bottom 50% of all income earners only pay in 3% of revenue to the Feds, that's you and I !
And WHO IS TALKING ABOUT A TAX CUT?
I don't want a tax cut. I want the taxes to stay the same, not increase.
WE ARE FACING A HUGE TAX INCREASE, not just the wealthy, but you and I and all of us!!!!
You are crazy when you talk about a tax cut. NOBODY IS TALKING ABOUT A TAX CUT.
ps: look these facts up for yourself.!
Those tax cuts ALSO applied to the 2% wealthiest people…who as a group, their income increase dramatically over the past few years. Tax cuts to them is ridiculous given the need to cover the stimulus and other programs implemented to stabilize the economy.
There is a two simple actions which will bring which will bring unemployment way down:
Hold the taxes as CONSTANT: make them permanent as they have been the last 8 years.
Stop extending unemployment benefits.
Oh, well that's three.
Countless economists concur.
On Wed, Sep 8, 2010 at 9:48 AM, Dude wrote:
As I have said on numerous occasions….fixing the economy is NOT a simple task. There is no single action which will resolve the unemployment issue. The only thing President can do is try to steer the country toward actions which improve the economy. Strategies cannot be short-term turnaround to fix unemployment; many factors must be fixed to create the atmosphere which supports hiring and deters layoffs.
Obama's Plan May Do Little to Help the Unemployed
Published: Tuesday, 7 Sep 2010 | 4:02 PM ET
President Barack Obama's new stimulus plan directs government assistance to some of the strongest parts of the economy without solving the biggest problem: finding work for the 14.9 million unemployed.
The three main ideas he plans to introduce Wednesday—$50 billion in infrastructure spending plus two sets of business tax incentives—could provide a modest burst of activity in a slow-growing economy.
The risk is that they succeed only in pulling forward planned investments, which would do little to spur hiring and alter the sluggish growth trajectory.
"They could be helpful but are unlikely to have a large effect on growth," saidGoldman Sachs economist Jan Hatzius.
Some of the proposed programs cover multiple years, spreading out the potential benefit; others are merely modifications or extensions of old ideas or policies, he said.
The White House hopes the programs will get idled construction workers back on the job and shake loose some of the spare cash held at corporations if it can convince wary lawmakers to go along.
The infrastructure plan—the most likely of the three proposals to generate a significant number of jobs—may face a particular fierce challenge in Congress.
Republicans and some deficit-hawk Democrats have repeatedly blocked spending packages for fear of adding to an already large budget gap.
The timing also looks challenging with only about a month left before lawmakers leave to prepare for November elections.
Obama administration officials argue that the United States is grappling with two deficits, budget and jobs, and can't afford to ignore either. The jobless rate hit 9.6 percent last month and is likely to drift higher in the coming months. As long as it remains elevated, demand will be subdued.