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View Diary: Transport Stimulus: Doing It Right (25 comments)

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  •  You are free to disagree (0+ / 0-)

    but I have the backing of our president on this one.  Obama made a sizable income tax cut for everyone making $200,000 or less the main promise of his campaign and it won him the election.  He made this promise because he recognized how overtaxed this group is.

    We just went through 8 years under Bush where we never received the tax cuts we so badly needed.  He focused only on the rich and that was sad.  I am glad we finally have a president who made his campaign about middle class tax payers.

    So disagree all you want but this debate is already over.  Obama promised sizable permentant income tax cuts to everyone making $200k or less and most Americans support that.

    Let me guess, you are one of those people who makes like $500k or more and doesn't realize what this tax cut means to people making $200k or less.  I am one of the middle class and I can tell you from experience that the money Obama is going to let me keep that I earn will make a huge difference in my life as well as most of the middle class.

    For you to believe that funding productivity is somehow a tax issue, you are nuts.  Productivity, as in GDP, is what the private sector does best.  The only reason the government is shelling out the stimulus money is the hope that it will spur economic activity from the private sector.

    Either way, these tax cuts are long overdue.  They will also stimulate the economy.  It is funny that so many keep saying it will do nothing because not even Krugman argues that.  He does believe that they aren't the best stimulus but he forgets that while they do stimulate, they are also simply needed by the middle class to survive.

    Many have argued on diaries about the need for wage and pay increases.  This income tax cut promised by Obama will effectively raise wages and salaries which is something everyone generally thinks is a great idea.  Personally, I am shocked anyone would be against helping middle class tax payers during a recession.  Good luck with that arguement.  Go see what the 95% of America that is waiting for their income tax cut thinks about your idea.

    •  You're lying through your teeth, aren't you? (4+ / 0-)

      As you well know, President Obama did not promise SIZEABLE tax cuts to people making $199,000.

      He promised that his tax cuts would be for people making under $200,000, and his tax increases restricted to people making over $200,000, but anybody who actually read his publicly available tax plan knows that the bulk of the tax cuts are focused on individuals earning less than $100,000 ... it was not focused on the 13% of the population making between $100,000 and $200,000 any more than it was focused on George Bush's base, the 2.76% of the population making over $200,000.

      As you also know, the focus of the debate on tax cuts are not on the tax cuts that Obama promised on the campaign trail, but on the corporate tax cuts that are being promises to Republicans (who write talking points along the lines of President Obama promising massive tax cuts to people making $199,000 each), which most certainly were  promised on the campaign trail, but by the candidate that LOST the election, not by the winning candidate.

      And over and above that ... you are presenting a typically Republican false choice between tax cuts and stimulus spending on infrastructure. In the stimulus, given current economic conditions, $1 is going to be backed by $0.50 in borrowing at the lowest Treasury Bond interest rates for decades. These are expenditures that will repay the investment many times over, each time another oil price shock hits.

      So unless you live in the lala land where the fall in gas prices is permanent, there is no conflict between tax cuts and this government investment ... the conflict would be between tax cuts and the government consumption portions of the Stimulus package. So go to some diary calling for increased government consumption and argue with them regarding the need to give the Republicans every corporate tax cut that they can dream up.

      •  WRONG (0+ / 0-)

        Do you not remember the Obama income tax cut calculator?  While the percentage of the promised income tax cut was more as you earned less, overall those making $150,000 to $200,000 still are getting a very sizable income tax cut.  In real dollar terms, not percentage, that group will get the most reduction.  I didn't pull this info out of a hat.  This is what Obama promised during his campaign over and over.  It was his central theme.  He even ran TV commercials with this promise.

        $200k or less receives income tax cuts
        $200k to $250k receives no change
        $250k or more receives increases in income taxes

        You are free to disagree with the president all you want.  Personally, it was a major reason for him getting my vote as well as many others.  These income tax cuts are long overdue.  Those making $200k or less have been paying excessive income taxes for far to long.  I voted for Obama because he was a man that focused on middle class tax payer needs first.

        Now I don't see how I presented a false choice at all.  We already know that Obama will be providing these tax cuts.  I am thinking that including them in the stimulus plan is a good idea as it will garner repug support.  Getting that support would be nice since if the overal plan fails, the repugs can at least get some of the blame.

        I don't have problems with much of the stimulus plan either.  Many think it isn't big enough.  Why not simply add Obama's promised income tax cuts to enlarge it and gain repug support?

        Either way, Obama needs to get this done quickly.  These people are eager to finally get the help they have wanted for far too long.

        •  People making 150K to 200K getting massive or ... (0+ / 0-)

          ... "overall a sizeable" tax cut ... you are now hedging on your "massive tax cuts" for those massively overtaxed people making $199,000.

          And you still do not say what the income tax cuts promised in the campaign have to do with this ... since the Stimulus Bill contains more than $30b in Corporate tax cuts that were only promised by McCain, who, after all, lost.

          There is, obviously, no real world reason that useful investment in our future economic and national security would need to be "offset". And even if some artificial and arbitrary game is invented that there has to be some offset ... offset it against the Corporate tax cuts that are useless as stimulus, and are only required to get some redundant "extra" Republican votes to satisfy some beauty pageant rule.

          •  What I am saying is that (0+ / 0-)

            the stimulus bill should change.  The income tax cut Obama promised should be the #1 priority in the stimulus bill.  If that means knocking out the corp tax cuts, fine.  Personally, I would enlarge the overall stimulus bill to include income tax cuts.

            Not only will they stimulate the economy, they are also a common sense measure.  When people like those making $200k or less are so excessively taxed, it is common sense to fix the situation by reducing their taxes.

            It is long overdue.

        •  You may consider 2.1% or 1.9% 'massive' (0+ / 0-)

          ... but most people would consider calling tax cuts of 2.1% or 1.9% "massive" to be pure and unadulterated bullshit.

          ... indeed, bullshit trying to protray the Obama tax plan as being more like the (past tense) McCain tax plan, where the tax cuts escalated as incomes rose.

          •  You can choose to view to differently (0+ / 0-)

            then I do.  I personally am looking at the total dollar amount Obama promised to allow people to keep of their own hard earned money.  Allowing me to keep around 2% of my own money is a very big deal.  For those making around $200k we are talking about a tax cut over $2,000+.  That is a pretty big deal if you ask me.  Again, you are free to disagree.

            All I ask is that Obama hurry up and get this promise done.  We have waited for to long for help from our government with this excessive tax burden.

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