Tax Cut and it's impact on the economy

From everything I'm reading, it looks like a 1/2 point bump in the GDP over the next six months to a year. So the "more money in our pockets" thing is kinda nice, and if you have kids, you could be getting a mail in rebate :p around $400 per kid (allow six to eight weeks for delivery). Also the cap gains reduction will be good if you actually have much invested.

So the highest bracket is going to get the most releif, which they should, they pay the most in taxes (in dollars, not in percentage of income), but supply side is as good as anything else on the table, and taking money away from the government in any way shape or form is a good thing.

In the short term (next 12 months or so), this is going to help. It *might* provide enough relief for the general public until we start seeing real growth in q3 this year, and some net gains in hiring in q2 next year. Yeah, I think it will take that long (and no, I'm not an oracle (economist) by trade).

Bleh . . . in any case, I'm just glad to get some more money away from big brother, erm uncle sam. Maybe I'll buy some more gummi worms with my share, or laughy taffy . . .

I'd donate my share to the Cellar but I don't think it'll even amount to the postage.:(

I'll definitly enjoy that money this summer. Always nice to get a check in the mail. Now I just hope it clears. :rolleyes:

it looks like a 1/2 point bump in the GDP

Hey idiot - the majority of the tax cut has no effect yet. The economy was going to start to move again sooner or later, and a half point gain in the GDP is not huge movement. We are charging this latest tax cut on our kid's credit. 400 billion dollar a year deficits are not a real driving force for the long term health of our economy.

So the "more money in our pockets" thing is kinda nice

Unless you are making near minimum wage - which means you will get nothing.

Though a rich guy might be able to get a new Hummer next year.

around $400 per kid

Unless you are already poor. Even then, my state taxes, property taxes, and my medical insurance are going through the roof - they will easily eat that 400 bucks a kid - and then some.

Also the cap gains reduction will be good if you actually have much invested

Why sell now - when the stock market is set to blast off? Just about all of my stocks are still in the tiolet. I do not think I will ever see the Dow at 10k again any time soon. I guess you must be reading the "Weakly Substandard" for you stock information.

So the highest bracket is going to get the most releif, which they should

Not to mention that the upper brackets only make their money because of the labor of the lower brackets and the infrastructure provided by taxes. The rich have a much better ability to utilize our system to their advantage - they reap the most reward. They reap far more reward than the labor that they actually worked, but they deserve most of the tax cut.

Your ridiculous excuse for logic in this matter is astounding.

Even you boy king's daddy called supply-side economics "VooDoo economics".

Reagan had to raise taxes after his tax breaks to the rich - but surprise, he raised those taxes in the middle class brackets. Bush's tanked economy was a result of Reagan's idiotic crap. Now we have a new generation of imbeciles that have learned nothing from history - because they never studied it - that assume that this time it will work.

Good luck.

but supply side is as good as anything else on the table

So it is good to add billions of dollars to the deficit so that rich people can have a little bit of a richer life? I am really happy that you can live vicariously through them. I suppose it is a good thing to deny opportunity to the masses so that rich guys can get a heafty chunk of change for their new Lexus.

and no, I'm not an oracle (economist) by trade

That is patently obvious.

I'm just glad to get some more money away from big brother

It is not like the government is building roads, maintaining bridges, builind missiles and bombs, ocuppying Iraq, occupying Afghanistan, fighting a drug war, running prisons, subsidizing steel, subsidizing nuclear power plants, and everything else - while charging 400 billion a year to our credit card.

And Big brother is taking all your money.

Come on. I love it when people buy Rethugnican talking points.

Originally posted by ScottSolomon
Hey idiot ... It is not like the government is building roads, maintaining bridges, builind missiles and bombs, ocuppying Iraq, occupying Afghanistan, fighting a drug war, running prisons, subsidizing steel, subsidizing nuclear power plants, and everything else - while charging 400 billion a year to our credit card.
And Big brother is taking all your money.
Come on. I love it when people buy Rethugnican talking points.

Who invited this guy? He has the audacity to call someone an idiot, yet he doesn't bother to spell correctly?

Blame Syc, who I'm sure is not happy about his reputation's impact about now.

While we're on the subject of spelling flames, shall I point out the inappropriate usage of "it's" in the thread title now, or wait for the irony to sink in a little longer?

Here we have another poster that needs to be thrown, kicking and screaming, from a helicopter.

The largest impact of this tax cut nobody has mentioned.
It's greated a huge jump in W's campaign chest.:p

Originally posted by Undertoad
Blame Syc, who I'm sure is not happy about his reputation's impact about now.

Ummm...yeah. My bad.

Scott, chill the fuck out, man. The guy was merely stating his viewpoints and you completely beat him down...absolutely uncalled for. We have enough assholes here that do shit like that. Instead of cutting him down, why not merely argue your point of view in a constructive way?

why not merely argue your point of view in a constructive way?

From what I've seen in the past, it is his way. Also as abrasive as he habitually is, he does make some good points. Granted he can be a little (well OK, a lot) overwhelming, especially to a newbie, but that's life. If this microcosm called the Cellar is really going to be open and frank, it's got to reflect what's in the real world and that includes abrasive people. OK?

aside- Scott, knock it the fuck off.:p

Sorry again. I have to remember to turn down the vitriol for this site. I had been trolling on the Free Republic forum - and I was arguing the same things with people that are much less civil than you all. I am sorry Archer - I just get carried away sometimes.

thanks for the civility Scott. I appreciate hearing your take on things and think you can add much to the discussion, when it can be a discussion.