Tax breaks, rebates, tax relief, are we asking the right question?
Written by packagin on April 9th, 2009
Poohcat1 asked:
Any way you look at it, tax breaks, rebates and tax relief are all handouts to someone. If you give a 3% tax break to corporations and the wealthy, it is a handout that they didnt have before. If you give a tax break, rebate or tax relief to the tax paying middle class, it is a handout they did not have before. If you give a check to those that do not pay taxes and call it tax relief, it is still a handout.
I think that the question we have to address is which option (if any) is best for America, American jobs and therefore the American people as a whole.
We saw the lack of results when the stimulus package was handed out last June and July. The money in 98% of the households went to pay down debt or to pay every day living expenses. Statistics show us that very little of it went to the retail markets and an even smaller amount went to savings. Did this bring an increase in jobs? Obviously not! Our jobless rate is higher now than it was then. So can we honestly believe that giving tax relief or tax cuts or rebates again to the middle class and the poor are going to result in an overall improvement in the nations economy?
During the years of Reganomics (trickle down economics), the United States saw unprecedented growth in jobs and general strength and vigor in the stock markets. No tax relief or handouts were given to the middle class.yet the overall state of middle class Americans improved substantially as jobs became easier to get and new innovations and inventions generally made our lives easier. It stands to reason then that providing incentives to large and small businesses alikerather than to individuals is much more likely to create jobs ..thus a better economy for all of us.
The problem as I see it with Sen. Obamas tax policy is that he is COUNTING on the American people who receive this tax relief to somehow join together to help build a better American economy for all. Our experience with the stimulus package has already shown us that this is not likely to happen.
The problem with McCains tax policy is that he is COUNTING on the goodness of the corporations and the rich to use the tax breaks to create new jobs. Frankly, without specific requirements that must be met by those corporations and the largest of the so called small business sector, this is not guaranteed to help either.
My proposal is to keep in place the tax levels currently given to large corporations, but insist that they meet specific requirements to remain at that level. Requirements such as, No jobs being outsourced to other countries and those already outsourced must be brought back to America and to American workers. Another requirement would be that funds belonging to these corporations can not be placed in offshore accounts, but must remain in American financial institutions. This proposal I believe would lower the jobless rate significantly thus improving the overall economy. When people have jobs, the economy grows. All businesses then become more profitable as the demand for their products becomes greater.
John McCain comes closer than Obama to being able to do this.
Please give me your opinion.
Kenya
Any way you look at it, tax breaks, rebates and tax relief are all handouts to someone. If you give a 3% tax break to corporations and the wealthy, it is a handout that they didnt have before. If you give a tax break, rebate or tax relief to the tax paying middle class, it is a handout they did not have before. If you give a check to those that do not pay taxes and call it tax relief, it is still a handout.
I think that the question we have to address is which option (if any) is best for America, American jobs and therefore the American people as a whole.
We saw the lack of results when the stimulus package was handed out last June and July. The money in 98% of the households went to pay down debt or to pay every day living expenses. Statistics show us that very little of it went to the retail markets and an even smaller amount went to savings. Did this bring an increase in jobs? Obviously not! Our jobless rate is higher now than it was then. So can we honestly believe that giving tax relief or tax cuts or rebates again to the middle class and the poor are going to result in an overall improvement in the nations economy?
During the years of Reganomics (trickle down economics), the United States saw unprecedented growth in jobs and general strength and vigor in the stock markets. No tax relief or handouts were given to the middle class.yet the overall state of middle class Americans improved substantially as jobs became easier to get and new innovations and inventions generally made our lives easier. It stands to reason then that providing incentives to large and small businesses alikerather than to individuals is much more likely to create jobs ..thus a better economy for all of us.
The problem as I see it with Sen. Obamas tax policy is that he is COUNTING on the American people who receive this tax relief to somehow join together to help build a better American economy for all. Our experience with the stimulus package has already shown us that this is not likely to happen.
The problem with McCains tax policy is that he is COUNTING on the goodness of the corporations and the rich to use the tax breaks to create new jobs. Frankly, without specific requirements that must be met by those corporations and the largest of the so called small business sector, this is not guaranteed to help either.
My proposal is to keep in place the tax levels currently given to large corporations, but insist that they meet specific requirements to remain at that level. Requirements such as, No jobs being outsourced to other countries and those already outsourced must be brought back to America and to American workers. Another requirement would be that funds belonging to these corporations can not be placed in offshore accounts, but must remain in American financial institutions. This proposal I believe would lower the jobless rate significantly thus improving the overall economy. When people have jobs, the economy grows. All businesses then become more profitable as the demand for their products becomes greater.
John McCain comes closer than Obama to being able to do this.
Please give me your opinion.
Kenya
Tags: American Economy, Asking The Right Question, Inventions, Middle Class Americans, New Innovations, Retail Markets, Sen Obama, Small Businesses, Stimulus Package, Tax Break, Tax Cuts, Tax Rebates, Tax Relief, Trickle Down Economics, Unprecedented Growth