Election Aftermath Thread (1 Viewer)

[DadsDream]

Jeff Koterba, Omaha World Herald

 

[Wombat]

Again, what are people DOING with these tax cuts? If they're paying off outstanding debts, it doesn't make much difference in the economy. If the windfall, or average middle class "cut" is a couple thousand dollars--it isn't enough to make a real difference in the economy if a lot of that money is going to pay outstanding debts (credit card, car payments, etc.)

I don't know what they're doing with it and really I don't care, it's their money! You don't know what's being done with it but you've put in a lot of effort to explain why they might not work despite that not long after they passed, the economy began to grow. Why the focus on only one possibility? The odds are given America's propensity for spending that it's not solely used to pay off debt.

I would guess given the fact that the Federal Govt. has seen an increase in revenue despite the tax cuts, that the money is being put back into the economy. A couple thousand dollars per millions of workers is significant. Additionally, interest rates are not high and neither is inflation. The rise in fuel costs when compared to the rise in costs of goods is relatively modest.

 

[RebSaint]

Again, what are people DOING with these tax cuts? If they're paying off outstanding debts, it doesn't make much difference in the economy. If the windfall, or average middle class "cut" is a couple thousand dollars--it isn't enough to make a real difference in the economy if a lot of that money is going to pay outstanding debts (credit card, car payments, etc.)

I don't know what they're doing with it and really I don't care, it's their money! You don't know what's being done with it but you've put in a lot of effort to explain why they might not work despite that not long after they passed, the economy began to grow. Why the focus on only one possibility? The odds are given America's propensity for spending that it's not solely used to pay off debt.

Based on the premise that every dime is our own, let's advocate ZERO taxes. That's right. No taxes. Nobody has to pay a dime for taxes.

I'm questioning what people do with their tax breaks because when politicans talk about tax cuts and how they are the panacea of economic growth, I demand an explanation. I want to know statistically if individuals put that money back into economic growth in ascertaining whether or not it will actually elicit the effect that politicians claim it will.

And I agree with your premise, every American dime which every American earns should, theoretically be theirs for the keeping. But in then there's the "general will" to consider, meaning there's some tax-payer money which benefits all people. But the Republican fiscal policy is morally bankrupt--let's spend willy-nilly and cut taxes when they are low.

It's the same thing as a big corporation expanding its responsibility while producing less products for it consumers. It makes zero sense. Spend money while arguably doing something which will reduce the profit margin.

I've put a lot effort to know the consequences of tax cuts because theoretically tax dollars taken from hard-working citizens are going to benefit the community at large rather than just a few individuals.

And when "tax cuts" are sold to me as a voter to benefit the economy, I want to know how and why. The "it's my money, I have a right to keep most or all of it" only takes one so far when the government can't pay for it's upkeep or demand of services which the people demand.

I'm not against tax cuts, but I question tax cuts to "grow" the economy when I darn good and well this strategy from an economic standpoint doesn't work when taxes are low--even supply-side economic theory admits that tax cuts aren't real significant when the tax cuts aren't that big to begin with because taxes are low.