No need to wait for the mailman: No stimulus checks this year
A five hundred dollar tax credit for individuals or one thousand dollars for couples. Let’s see, that comes out to be about nine dollars a week for an individual or nineteen dollars a week for couples. Be still my heart.
It’s funny but I just cannot get the picture out of my mind of all the people who went down to the Arch grounds the day “President Elect” Barack Obama came to town and promised them he was going to take them to the promised land. That all their troubles and worries were going to be over and they would now be able to sleep at night.
I would have sworn he was riding a cloud as if it were Ascension Thursday and the tongues of the Holy Ghost were above the heads of all in attendance. We are saved.
There’s your stimulus package. There are no stimulus checks being sent to people this year, so stop looking for the mailman. Big business, Wall Street, and the Auto makers got it all. Tax breaks are fine for people if you have a job. But what can you do with an extra nine dollars a week? Does this mean they will tax people less on unemployment benefits? I doubt it. Does it mean you will get more in food stamp assistance. No. If you get unemployment benefits, it reduces your food stamp allotment.
This is the guy people thought were going to save the country. They voted for him and before he is even sworn in, he has proven it was a words. Now you have to live with your decision. An eight hundred billion dollar stimulus package sounds good, but someday, someone is going to have to pay for and repay all of this.
Jim Kozlowski
St. Louis
Tango
I agree with about 75% of what you say.
I have read that a flat tax will not work, but what I have read gave a brief description as to why so I would like to know more.
As for punish the rich, lets not forget that most of the tax cuts in the past few years were for the benefit of the rich.
Giving up the current tax system has nothing to do with the loopies on the left or the greedy on the right. You cannot get them to give up their tax deductions. The middle class will not give up their home mortgage, whether they be on the left or right. The Upper class will not give up most of their tax loopholes, such has buying a car under the company name and then allowing the head of the company (themselves) use the car. many like the flat tax until they are told they cannot have their deduction.
tango
here is another question about the 15% flat tax. Most people think of it as for the individual, what would then happen with the corporate taxes would they get 15% or another rate? If they get a flat tax will they give up their deductions for investing in new equipment and technology? If they do not then will they invest anyway and if they do not what is the potential effect on the economy?
Flat tax of 15%, no deductions, NONE. Any tax applied to a corporation is passed on to the consumer by increasing the cost of goods. No deductions for corporations, NONE. I don’t think a corporate tax should be more than, say, 5-6%.
Put corporate tax attorneys and the IRS out of business, permanently. They don’t produce anything.
Look at your W-4, or whatever it’s called, and multipy the total by 15% and send that amount in to the fed gov’t on April 15th. No withholding of taxes from pay checks.
That will spur the economy.
Going back to my above analogy of the cow in the living room; the left and right both have their ideas about where the hay (taxes) should come from and how the milk (spending) should be distributed. Both also ignore the root problem of the size of the cow in our living room. Everyone wants more milk, but nobody can figure out how to clean the carpet.
The founders foresaw and tried to avoid the huge expansion of federal government with the Tenth Amendment and other Constitutional limits. But when the States were removed from the picture and the public was given direct access to an unlimited federal treasury our fate was sealed.
The largess of the huge federal bureaucracy comes with unmanageable costs and unavoidable mathematics. Welcome to the Great Society.
A#, you are exactly right. The federal budget is $3 trillion dollars. And, BO wants to make it LARGER.
The American people don’t want to go on a diet; they want gov’t largess and we’ll continue to have it until we become a 3rd world country and can’t feed ourselves. Even then, the parasites will continue to want handouts from the producers. By then, the producers will have left this once great country.
We need to limit the amount of money we give to the federal gov’t by reducing taxes to the point where the gov’t receives enought to pay for what’s spelled out in the Constitution, mainly, our defense. Then, we need to pass a Constitutional amendment that Congress cannot spend more than they take in. We need a Supreme Court that starts ruling against the centralized federal gov’t mandates and starts supporting state’s rights.
Basically, what we need is a new government. Once greed has infested the political ranks, the downfall of an empire will happen next. It’s sad how fast it has happened to this country.
okay all,
This is supposed to be about the new stimulus checks (cough, cough). As promised by the great flip-flopper. He isn’t even in office yet and he has already reneged on one of his promises. What else will he renege on? For crying out loud, as much as I can use another check, I don’t see one coming. How many times is he gonna “change his mind” before everyone realize that he conned the majority of voters?