Discussion in 'Economics' started by NeoRio1, Nov 5, 2008.
If yes than would Obama be smarter to delay those tax increases to a later more safer date?
By the way the yes or no question is whether the taxes will hurt the economy or not.
Stupid edit options won't let you edit a poll.
Herbert Hoover tried raising taxes.
I think we know what that did for him.
Yes, those Clinton tax cuts really destroyed the economy. Only a fool spent the 90's in equities. All that unemployment, and that national debt just skyrocketed.
Yes, worst years ever. And Steve Forbes was 100% right.
Clinton could have done anything and he would have been golden. He had the tech boom behind him.
But to answer the question, Barak won't raise taxes on anyone as long as the economy is in the shitter. He is not stupid.
Afterwords, the raise on the wealthy will cut employment somewhat, just as raising the minimum wage does. Its basic econ 101 common sense. The question to ask is whether other things in the economy more than make up for this. If Barak goes through with his Keynesian infrastructure spending, that will definitely help the economy and employment short term, just as it did for FDR. Need higher taxes for this, but no way would the cost be covered, so in the long run its usually not something we do here.
Who knows long term, but you have to admit, Obama has great timing. The economy will be better in 4 years no matter what he does. He is coming in at or near a low. He will look golden and have 8 years easy I bet.
Fixed it for you
People actually believe that the so called "ceiling" of 250K is going to stick?
You gotta to be naive to think that "250K" will be the watermark...
Go to YouTube and do a search. You will see that Obama and Biden have both thrown out 250, 200, and 150. The number will be much less than 250.
I think it's pretty well understood that the "rich" who will be paying more taxes is pretty much anybody who isn't already receiving government handouts.
The Gummint would be happy (and I believe is their most optimistic goal, though they'd never admit it) if all of us just sent in everything we make and everything we have.
Then, the gummint could just give us all an "allowance". Then, everybody would be "equal" and nobody could bitch... "wah, wah, wah, life's not fair... somebody has more than I".
"FROM each according to his ability, TO each according to his need"... muy Marxist.
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