Comments on: The $300 billion tax cut: Let’s do it right Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 By: CrazyDude Tue, 13 Jan 2009 12:51:30 +0000 why not!

By: Trevor H Tue, 13 Jan 2009 08:37:00 +0000 getplaning,
Whatever you were talking about, I don’t get it. What
Steve was saying is just perfectly right, purely right and utterly right. Saving is key, especially after a period of over-consumption.

Do you have any source or references that the economic wreckage now is caused by Randians?

The idea of of anti-Randian (whom the society regards to as “hedonists”) that the economy can grow by having people consuming more and more until one type of resource is depleted and then move one another type of resource and repeat is simply absurd.

By: Ted Ryfiak Mon, 12 Jan 2009 21:41:24 +0000 Any fix that does not create or re-create non-government jobs will not work. Repairing the manufacturing base and the jobs it provides is the only way to quickly turn around our economy. Trace every other job in the US back to it’s source and you will find it supported by manufacturing money. How many people can be supported here in the US by someone buying foreign product, marking it up and selling it to the people? Only a few people at the upper management level and whoever it takes to sell it from a store will be supported by that system. People need to understand the sheer numbers of a manufacturing process creates almost too many jobs to count. Every tiny part of any product creates at least two jobs – one to make the tiny part and one more to assemble it. Think about your toaster – 50 little parts = 100 jobs. The manufacturing companies are sending all those jobs overseas just to make the product more profitable. All those jobs disappearing for the last 30 years is why we have finally crossed the tipping point and our economy collapsed.
It won’t be easy but the trade imbalance needs to be fixed.
The quality of US product is not the issue – it’s always price.
We need to steer our highly educated people towards finding ways to make our manufacturing more competitive.
We need to get union wages back in line.
The only guaranteed fix is to make our manufacturing industries strong again. If that happens – everything else will work.

By: jason Mon, 12 Jan 2009 21:03:03 +0000 I agree let’s do it right! Let’s cut government payroll and benefits starting with the president, congress and they’re spending accounts. Then some of our military spending abroad. We need a real tax cut here not more loop holes in tax code. And you will not have a cut if they don’t get rid of something or else they’re just going to print more money to cover it or borrow it from someone else.

By: getplaning Sun, 11 Jan 2009 06:38:46 +0000 Govt. needs to get out of the way and let the market work.

– Posted by steve

Steve, while I agree that savings equals investment, what’s especially amusing is that the economic wreckage we see before us today is in fact the handiwork of the Randian dimwits who’ve become endemic to conservative economics.

Exhibit A: Longtime Fed Chairman Alan Greenspan, who was a Big Randian from back in the day.

Of course, Greenspan now admits this approach may not have worked out so well. Especially the bit about letting the true economic geniuses/captains of industry have their unfettered way. In fact, it all turned out to be a big fat fraud, didn’t it?

Greenspan wasn’t alone, of course. George W. Bush’s entire approach to governance, especially in the economic sector, was fundamentally Randian: Bush never met a tax cut for the wealthy or deregulation scheme he didn’t chase like a fox after a chicken. Even the Democrats who succumbed to the “era of profound irresponsibility” did so because they were harkening to the siren song of the right-wing Randians.

Watching Randians at work trying to convince themselves of their essential rightness in the face of the global wreckage pile of evidence to the contrary would be funny were the consequences of their historical muckup not so devastating and so far-reaching for so many of the ordinary schlubs for whom the Randians have at best a guarded contempt. It all reminds me of a bit of wisdom passed along to me: “Watch out for ideologues. Ideas are more important to them than people.”

By: fbertinotti Sat, 10 Jan 2009 20:06:14 +0000 I would not want to be a young American. Their future income -and much more- is being spent to try to save the lifestyle of the rich greedy frauds that have sucked the US economy dry doing nothing but spinning hot air, starting wars and destroying the US manufacturing base. Frightening to see a whole generation that can’t control its materialism living off of their children.

By: Donna Fri, 09 Jan 2009 23:28:40 +0000 Where’s Huckabee?

By: Pedro Spohr Fri, 09 Jan 2009 15:27:20 +0000 Diana,
The title of your Article caught my attention because I´m wondering for days how I could channel my idea to President Obama and/or his Economy Team; Hope, in case you find it worth enough, you have the tools to reach them.
America has to waiste less energy, American People will have a tax cut so, let´s make it simple: energy spent in each american house (or business)in the last twelve months (electricity/gas) less energy to be spent in the next twelve months (in watts and m3)multiplied by average market values of these comodities, to be deducted from next year tax of actual business company, house holder either the actual house owner or the house renter. This connects the welcomed tax cut to the decisive incentive American People need to moderate their energy consumption reaching in a few years, the percapita levels say, of the European Union (taking in account climate considerations). I believe Americans will change, having the double perspective of spending less on energy plus paying in consequence less tax; they will look, as we Europeans already do, on our own, for ways to reduce our consumption, namely, reduce house inside temperature, stop openinng windows to compensate, use a pullover inside, buy a thertmostate, isolate better, automatic connect/disconnect heating/cooling system through internet/phone, etc..etc…it´s fresh money in their pockets! The Government may decide to finance these investments to help the change.
Thus the above make sense (Let´s do it right!) or, is just another one fool/idiotic idea?
With my Best Regards,
Pedro Spohr

By: steve Fri, 09 Jan 2009 15:10:46 +0000 People seem to forget that the govt. can’t stimulate anything, all it can do is take and reallocate dollars. Dollars that ultimately must be paid for through taxation. So for people to continue to argue that this urgent stimulus is necessary and that it will save the economy is ridiculous.

The problems we have are linked to excess spending and consumption. To conclude that we need to spend and consume more is absurd. We need to quit consuming and save, that’s where the only real capital for the economy comes from, it doesn’t come from capital created by the govt with a printing press.

If the govt. continues to intervene and prevent the market from making the corrections it needs to we’ll have a prolonged and protracted decline consistent with the Great Depression.

Govt. needs to get out of the way and let the market work.

By: A Over Fri, 09 Jan 2009 14:13:55 +0000 If we renew the excess profits tax of old and invest in rail transportation for people (a spoonful of oil moves a man one mine on rails) then the US economy might be able to afford the greedy fools that we have all become. Oh! we must also fix the quality of “made in the USA goods” before we can compete with “foreign made”. Good luck Mr. Obama and good luck fat butted, lazy ,greedy Americans.