The Obama economy.

Discussion in 'Economics' started by mrman500, Jan 22, 2009.

  1. Dick Morris has written an interesting article on what he expects will happen to the economy under Obama.

    Here is an excerpt: "...In the name of short-term stimulus, he will give every American family (who makes less than $200,000) a welfare check of $1,000 euphemistically called a refundable tax credit. And he will so sharply cut taxes on the middle class and the poor that the number of Americans who pay no federal income tax will rise from the current one-third of all households to more than half. In the process, he will create a permanent electoral majority that does not pay taxes, but counts on ever-expanding welfare checks from the government. The dependency on the dole, formerly limited in pre-Clinton days to 14 million women and children on Aid to Families with Dependent Children, will now grow to a clear majority of the American population."
  2. moarla


    what would be your plan? maby some new war?
    hopefully those idots from the last 8 years never will come back
  3. What is your plan?

    Why not remove all business taxes. If profits from investments in business were tax free, business activity would explode along with job growth.

    How does a $1000 check help people? Why create demand(inflation) for products when production(GDP) is shrinking. No business will make capitol investments or hire more people knowing any blip in business will last only as long as the $1000 lasts.
  4. This is the answer to the stimulus question. Cut government spending , eliminate the majority of the tax burden and introduce a flat tax. Ofcourse this will not be implimented since it doesn't involve government programs and government jobs.
  5. TGregg


    And you expect what? People to work for a living? Everybody?!

    That's a very rare and unstable situation for this planet.
  6. those $$$ haven't arrived yet..........and families have already spend it all.
  7. Ever hear of "two wrongs don't make a right"?

    Bush was HORRID... we all recognize that. But the Socialism NObama intends to bring to the citizenry will be equally destructive if not more so. :mad:

    If you are a Boomer, the destruction of the USA may not be complete by the end of your lifetime... however you will see a significant decline in your standard of living and a significant confiscation of your wealth, if you have some.

    Wifey's hope is that if NObama turns out to be CRAPOLA, at least we can get rid of him after 4 years. While that's true, Socialistic programs are viturally impossible to remove from the economic fabric. NObama's "changes" will live in infamy.

    If you are younger than the Boomers, your future and the future of your kids and grandkids looks quite grim.
  9. Viva la France!
  10. clacy


    This isn't exactly new news. The Democrats have been playing the class warfare game for decades. Unfortunately, the Republicans have turned completely away from fiscal responsibility as well, running deficits in the best of times because of spending that is democrat-lite.
    #10     Jan 22, 2009