[QUOTE="coolbeans90"][QUOTE="gaming25"] Maybe if you saw the whole conversation then you wouldnt be saying such things. I am basing this off of charts that have been skewered. My point is that Bush tax cuts dont really do much for the economy especially during the recession. That is the main point. Especially since it added to the deficit.gaming25
I saw the whole conversation. I also still stand by my position since the vast majority of economists want the tax cuts extended, and the few who do not happen to be particularly concerned about the deficit. Ben Bernanke, the Chairman of the Federal Reserve says that the Bush Tax cuts are needed to keep spending levels up.
They want the tax cuts extended because they are afraid of the shift of tampering with taxes and the effect it would make to the economy, which is understandable. But I feel that the need is great to not extend these cuts for the rich and get it straight into the hands of the people who need it the most. Also, 11 people agree with my side (which is extend it only for the less than 250,000), out of 43 so thats roughly 25 percent, so I wouldnt call say the "vast majority" against me (that is though if you thought I meant ending the cuts altogether, which I am sorry if you thought thats what I meant, I only meant end it for the people who make more than 250,000).The tax cuts are relatively unrelated to the rest of congress' economic agenda. It's not some part of an elaborate comprehensive structutred plan. If they let the cuts die, that doesn't mean that they'll get money "straight into the hands of the people who need it the most." In all likelyhood, they probably won't think that since they chopped off $XY Billion off the defecit that they should just spend it elsewhere.
With respect to increasing them for the middle and lower c1ass, I do understand the argument, and it has some merit. On one hand, the more wealthy have a lower propensity to consume than the middle and lower c1ass, thus diminishing their relative effectiveness in terms of stimulus. Arguably one may make the argument that their money would be better put towards the deficit. I don't quite agree, but I do recognize value in the argument. I wish I would have understood you more clearly.
Anyway, it is getting quite late, and my posts are slowly diminishing into incomprehensible gibberish, so I believe that I will bid you adieu, and call it an evening.
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