General Discussion

eridani

(51,907 posts)

9. However, it is utterly idiotic to suggest that tax cuts have any significant effect on--

Tue Dec 20, 2011, 12:32 AM

Dec 2011

--aggregate demand. 48% of our population is low income or outright poor. Their stupid fucking "middle class tax cut" amounts to a couple of hundred dollars. Multiply by the number of people involved, and you increase aggregate demand just like you increase ocean temperature by spitting in it.

To increase the incomes of people in this group, you need to reinstate Make Work Pay, or substantially raise EITC benefits, and pay for it by taxing the rich more.

When the 1% is hoarding all the assets and not investing (because they don't have more prospective customers, having finally succeeded in decimating the discretionary income of everyone else), you have to tax it away from them and use it to hire people to provide public goods. $200 is a useless piddlyass amount of money that makes no difference to someone's life--going from unemployed to employed makes a huge difference. Going from a poorly paid job to a well paid one makes a huge difference.

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All temporary taxcuts should be allowed to expire. [View all] kentuck Dec 2011 OP

I'd gladly pay a grand and give up lunch for a fucking year to watch Richie Rich have to pay his lonestarnot Dec 2011 #1

That's great, if you don't need that grand to feed your kids. TheWraith Dec 2011 #16

Would you take food stamps if your children were hungry? kentuck Dec 2011 #19

Not just a Grand ... BOHICA12 Dec 2011 #27

I make so little money SheilaT Dec 2011 #78

"backbone? courage" ? what are these strange things you speak of ? russspeakeasy Dec 2011 #2

The problem comes when less income=less spending=recession, layoffs, and so on bhikkhu Dec 2011 #3

More money coming into the Treasury means more government spending... kentuck Dec 2011 #4

It doesn't, though Yo_Mama Dec 2011 #46

However, it is utterly idiotic to suggest that tax cuts have any significant effect on-- eridani Dec 2011 #9

Hey kentuck rsmith6621 Dec 2011 #5

March? This is going to go on until November. Hang onto your shorts! lonestarnot Dec 2011 #6

Maybe you should tell your Congressman to fight for unemployment benefits... kentuck Dec 2011 #7

speak for your own income bigtree Dec 2011 #8

Better than asking people to surrender what they have paid for all their lives? kentuck Dec 2011 #10

nothing of the sort is occurring. You're just using fear to make your point bigtree Dec 2011 #13

There is nothing in the general fund. kentuck Dec 2011 #17

that should apply to everything else then, not just when the middle class gets a break bigtree Dec 2011 #21

Just what is politically possible at the moment. kentuck Dec 2011 #22

denying the middle class a tax break before changing the other priorities isn't 'courage' bigtree Dec 2011 #43

Could you please get off this this tax cut bull ? kentuck Dec 2011 #49

yeah, that's right, we're not just regular folks out here, working our asses off bigtree Dec 2011 #52

Post removed Post removed Dec 2011 #54

That's about as direct a personal assault as you can make Kentuck bigtree Dec 2011 #57

"you miserable wretch"?? kentuck Dec 2011 #58

You can't keep from taunting people, can you? bigtree Dec 2011 #59

You deserve everything you get. kentuck Dec 2011 #60

They need more money than some pissy tax cut is going to give them. eridani Dec 2011 #11

They hooked people on the Bush taxcuts rather than pay raises from their employers... kentuck Dec 2011 #12

The payroll tax cut extension is Obama policy bigtree Dec 2011 #15

Jeebus. Because taxes pay for necessary public goods, ferchrissakes! eridani Dec 2011 #18

so that burden should be all on the middle class? bigtree Dec 2011 #42

It should be mainly on the rich eridani Dec 2011 #65

right, where's the replacement? Where's the alternative? bigtree Dec 2011 #14

Just surrender... kentuck Dec 2011 #20

This message was self-deleted by its author bigtree Dec 2011 #53

Here is my take airplaneman Dec 2011 #23

Well said, airplaneman. kentuck Dec 2011 #24

+10000!! n/t eridani Dec 2011 #31

The FICA tax cut is paid for, the SS trustees have received funds each month FogerRox Dec 2011 #75

The social security trust fund is not being reduced by one penny. The tax cut should be extended, BzaDem Dec 2011 #25

No--the firewall separating Social Security from general revenue for 75 years-- eridani Dec 2011 #28

Some bullets on this airplaneman Dec 2011 #30

"You do not protect social security by cutting its funding and hope you will come up with the money" BzaDem Dec 2011 #40

I wish someone would answer this "point"... kentuck Dec 2011 #50

This ProSense Dec 2011 #26

The government fucking well does control tax policy eridani Dec 2011 #29

Tax their cash assets? Do you want my savings in the bank taxed as well? RB TexLa Dec 2011 #32

Your bank savings is already doubly taxed eridani Dec 2011 #37

Er, no. You may be talking about interest on savings. But you do not pay a tax on the principal. BzaDem Dec 2011 #41

Cash assets they likely are not ArcticFox Dec 2011 #48

And ProSense Dec 2011 #35

Unfortunately, the President already crossed the Rubicon of allowing the cutting payroll taxes JCMach1 Dec 2011 #33

F--k That! If you make over $250/K a year you didn't just live through a recession. FarLeftFist Dec 2011 #34

And also the 48% of the population that is low income or outright poor eridani Dec 2011 #38

spoken like someone with money to spare! MjolnirTime Dec 2011 #36

Spoken by someone who knows that tax cutting since 2000 has destroyed our economy eridani Dec 2011 #39

Making Work Pay *is* a tax cut. dawg Dec 2011 #45

It is a tax credit, and should be referred to as such eridani Dec 2011 #62

When you increase a tax credit, you cut taxes. dawg Dec 2011 #67

These "word games" are otherwise known as FRAMING, which the Repukes have-- eridani Dec 2011 #69

I understand all about framing, Lakoff and such, but ... dawg Dec 2011 #72

Only because the Repukes have been pushing the evil government, taxes bad eridani Dec 2011 #74

Too purist for me. You ignore all those you would hurt to achieve perfection. MjolnirTime Dec 2011 #55

It wasn't passed to relieve the pain... kentuck Dec 2011 #56

So you think it's time to stop stimulating the Economy? wrong! MjolnirTime Dec 2011 #80

Since when is common sense way out of line and an impossible goal? eridani Dec 2011 #63

Actually wages have not kept up with inflation for over 35 years. FogerRox Dec 2011 #76

I imagine to a subsistence farmer in Rwanda... LanternWaste Dec 2011 #61

That would be counter-productive. dawg Dec 2011 #44

Works for me. Sherman A1 Dec 2011 #47

As Loretta Lynn said... kentuck Dec 2011 #51

No truer words ever spoken. sad sally Dec 2011 #64

Depression plus belt-tightening equals more depression cthulu2016 Dec 2011 #66

In fact, the best way to put more money into people's pockets and to improve the economy Fool Count Dec 2011 #68

agreed, let them all expire... bonzotex Dec 2011 #70

There are a lot of people here on DU that want taxes raised on the other guy taught_me_patience Dec 2011 #71

K & R !!! - Agreed !!! WillyT Dec 2011 #73

You're preaching to the choir on this, my friend... WheelWalker Dec 2011 #77

I agree - nt badtoworse Dec 2011 #79