OT: So the debt grows…

[ocrenter]

you do realize we may never reach “full employment.”

over the last couple of decades, we appeared to be in “full employment” mostly due to bubble driven economies. the tech bubble gave a bunch of folks jobs that otherwise would not be there. the housing bubble of course allowed for a lot of extra Realtors, construction workers, loan processors as well as a bunch of folks in retail and interior design that frankly would not have jobs if not for the bubble environment.

this recession will last for a long time, and when it is over, we WILL not get back to that “full employment” status. Unless of course we create another bubble.

So while we think up of a new bubble so we can get back to that magical “full employment,” what should we do? pile on the debt?

The truth about the over 250k class is this: If their income over 250k is tax’d heavily, it would be their incentive to spend that > 250k income as much as possible in the form of business related deductions. If their over 250k income is not taxed as heavily, they just end up saving it or investing in financial holdings.

[Coronita]

[quote=carlsbadworker]Extend all Bush tax cuts.
2% payroll tax cuts reduction.
A total of 3 years unemployment benefits.
Continuation of college-tuition tax credit and Child Tax Credit.
An expansion of the earned income tax credit.
A provision to allow businesses to write off the total cost of equipment purchases.

There is tax cuts for everyone! This is just brilliant. With Obama and Ben behind your back, why not speculate on stocks, property, gold, or anything?

http://thecaucus.blogs.nytimes.com/2010/12/06/obama-congress-near-deal-on-tax-cuts/%5B/quote%5D

I personally don’t think there’s anything wrong with this… If the boat’s going to sink, might as well do the things that accelerate the process…Consider the other option…Doing a partial tax break for on select people…Imho, either all or nothing…Everyone pays higher taxes or not…The original “robin hood” idea has thoroughly been beaten the hell to death…Net effect, absolutely NOTHING….same old, same old status quo… It’s only been a few weeks, and I’m already loving the anarchy… (sarcasm off).

[Coronita]

[quote=carlsbadworker]Extend all Bush tax cuts.
2% payroll tax cuts reduction.
A total of 3 years unemployment benefits.
Continuation of college-tuition tax credit and Child Tax Credit.
An expansion of the earned income tax credit.
A provision to allow businesses to write off the total cost of equipment purchases.

There is tax cuts for everyone! This is just brilliant. With Obama and Ben behind your back, why not speculate on stocks, property, gold, or anything?

http://thecaucus.blogs.nytimes.com/2010/12/06/obama-congress-near-deal-on-tax-cuts/%5B/quote%5D

I personally don’t think there’s anything wrong with this… If the boat’s going to sink, might as well do the things that accelerate the process…Consider the other option…Doing a partial tax break for on select people…Imho, either all or nothing…Everyone pays higher taxes or not…The original “robin hood” idea has thoroughly been beaten the hell to death…Net effect, absolutely NOTHING….same old, same old status quo… It’s only been a few weeks, and I’m already loving the anarchy… (sarcasm off).

[Coronita]

[quote=carlsbadworker]Extend all Bush tax cuts.
2% payroll tax cuts reduction.
A total of 3 years unemployment benefits.
Continuation of college-tuition tax credit and Child Tax Credit.
An expansion of the earned income tax credit.
A provision to allow businesses to write off the total cost of equipment purchases.

There is tax cuts for everyone! This is just brilliant. With Obama and Ben behind your back, why not speculate on stocks, property, gold, or anything?

http://thecaucus.blogs.nytimes.com/2010/12/06/obama-congress-near-deal-on-tax-cuts/%5B/quote%5D

I personally don’t think there’s anything wrong with this… If the boat’s going to sink, might as well do the things that accelerate the process…Consider the other option…Doing a partial tax break for on select people…Imho, either all or nothing…Everyone pays higher taxes or not…The original “robin hood” idea has thoroughly been beaten the hell to death…Net effect, absolutely NOTHING….same old, same old status quo… It’s only been a few weeks, and I’m already loving the anarchy… (sarcasm off).

[Coronita]

[quote=carlsbadworker]Extend all Bush tax cuts.
2% payroll tax cuts reduction.
A total of 3 years unemployment benefits.
Continuation of college-tuition tax credit and Child Tax Credit.
An expansion of the earned income tax credit.
A provision to allow businesses to write off the total cost of equipment purchases.

There is tax cuts for everyone! This is just brilliant. With Obama and Ben behind your back, why not speculate on stocks, property, gold, or anything?

http://thecaucus.blogs.nytimes.com/2010/12/06/obama-congress-near-deal-on-tax-cuts/%5B/quote%5D

I personally don’t think there’s anything wrong with this… If the boat’s going to sink, might as well do the things that accelerate the process…Consider the other option…Doing a partial tax break for on select people…Imho, either all or nothing…Everyone pays higher taxes or not…The original “robin hood” idea has thoroughly been beaten the hell to death…Net effect, absolutely NOTHING….same old, same old status quo… It’s only been a few weeks, and I’m already loving the anarchy… (sarcasm off).

[Coronita]

[quote=carlsbadworker]Extend all Bush tax cuts.
2% payroll tax cuts reduction.
A total of 3 years unemployment benefits.
Continuation of college-tuition tax credit and Child Tax Credit.
An expansion of the earned income tax credit.
A provision to allow businesses to write off the total cost of equipment purchases.

There is tax cuts for everyone! This is just brilliant. With Obama and Ben behind your back, why not speculate on stocks, property, gold, or anything?

http://thecaucus.blogs.nytimes.com/2010/12/06/obama-congress-near-deal-on-tax-cuts/%5B/quote%5D

I personally don’t think there’s anything wrong with this… If the boat’s going to sink, might as well do the things that accelerate the process…Consider the other option…Doing a partial tax break for on select people…Imho, either all or nothing…Everyone pays higher taxes or not…The original “robin hood” idea has thoroughly been beaten the hell to death…Net effect, absolutely NOTHING….same old, same old status quo… It’s only been a few weeks, and I’m already loving the anarchy… (sarcasm off).

[all]

Recently I realized after reading a comment on this website that everyone’s earned income *is* taxed the same. If you earn $200K/year your first $15K is taxed at the same rate as the first $15K of someone who earned $20K or $2MM.

Consequently, reducing tax rate on 82K-171K bracket benefits those who earn $2MM/year more than those who earn $100K/year even if the 172K+ bracket does not get reduced.

Since I don’t benefit from the additional 13 months of unemployment benefits, college-tuition tax credit or reduced rate on $250K income I am strongly against those. The 2% SSI reduction, child tax and equipment cost write off are great and worth borrowing money from whomever is willing to lend it.

[all]

Recently I realized after reading a comment on this website that everyone’s earned income *is* taxed the same. If you earn $200K/year your first $15K is taxed at the same rate as the first $15K of someone who earned $20K or $2MM.

Consequently, reducing tax rate on 82K-171K bracket benefits those who earn $2MM/year more than those who earn $100K/year even if the 172K+ bracket does not get reduced.

Since I don’t benefit from the additional 13 months of unemployment benefits, college-tuition tax credit or reduced rate on $250K income I am strongly against those. The 2% SSI reduction, child tax and equipment cost write off are great and worth borrowing money from whomever is willing to lend it.

[all]

Recently I realized after reading a comment on this website that everyone’s earned income *is* taxed the same. If you earn $200K/year your first $15K is taxed at the same rate as the first $15K of someone who earned $20K or $2MM.

Consequently, reducing tax rate on 82K-171K bracket benefits those who earn $2MM/year more than those who earn $100K/year even if the 172K+ bracket does not get reduced.

Since I don’t benefit from the additional 13 months of unemployment benefits, college-tuition tax credit or reduced rate on $250K income I am strongly against those. The 2% SSI reduction, child tax and equipment cost write off are great and worth borrowing money from whomever is willing to lend it.

[all]

Recently I realized after reading a comment on this website that everyone’s earned income *is* taxed the same. If you earn $200K/year your first $15K is taxed at the same rate as the first $15K of someone who earned $20K or $2MM.

Consequently, reducing tax rate on 82K-171K bracket benefits those who earn $2MM/year more than those who earn $100K/year even if the 172K+ bracket does not get reduced.

Since I don’t benefit from the additional 13 months of unemployment benefits, college-tuition tax credit or reduced rate on $250K income I am strongly against those. The 2% SSI reduction, child tax and equipment cost write off are great and worth borrowing money from whomever is willing to lend it.

[all]

Recently I realized after reading a comment on this website that everyone’s earned income *is* taxed the same. If you earn $200K/year your first $15K is taxed at the same rate as the first $15K of someone who earned $20K or $2MM.

Consequently, reducing tax rate on 82K-171K bracket benefits those who earn $2MM/year more than those who earn $100K/year even if the 172K+ bracket does not get reduced.

Since I don’t benefit from the additional 13 months of unemployment benefits, college-tuition tax credit or reduced rate on $250K income I am strongly against those. The 2% SSI reduction, child tax and equipment cost write off are great and worth borrowing money from whomever is willing to lend it.

[briansd1]

The consensus economic wisdom seems to support the deal. The budget tax deal is good for the economy, given what can be achieved.

http://www.npr.org/templates/story/story.php?storyId=131885589

Obama’s defense of the deal is pretty convincing to me.
http://www.whitehouse.gov/blog/2010/12/07/president-obama-middle-class-tax-cuts-and-unemployment-insurance-agreement-a-good-de

[briansd1]

The consensus economic wisdom seems to support the deal. The budget tax deal is good for the economy, given what can be achieved.

http://www.npr.org/templates/story/story.php?storyId=131885589

Obama’s defense of the deal is pretty convincing to me.
http://www.whitehouse.gov/blog/2010/12/07/president-obama-middle-class-tax-cuts-and-unemployment-insurance-agreement-a-good-de

[briansd1]

The consensus economic wisdom seems to support the deal. The budget tax deal is good for the economy, given what can be achieved.

http://www.npr.org/templates/story/story.php?storyId=131885589

Obama’s defense of the deal is pretty convincing to me.
http://www.whitehouse.gov/blog/2010/12/07/president-obama-middle-class-tax-cuts-and-unemployment-insurance-agreement-a-good-de

[briansd1]

The consensus economic wisdom seems to support the deal. The budget tax deal is good for the economy, given what can be achieved.

http://www.npr.org/templates/story/story.php?storyId=131885589

Obama’s defense of the deal is pretty convincing to me.
http://www.whitehouse.gov/blog/2010/12/07/president-obama-middle-class-tax-cuts-and-unemployment-insurance-agreement-a-good-de

[Author]

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