To help the economy, we should...
We should: spend more, i.e. increase consumerism
tax breaks
increase taxes
increase government spending
decrease government spending
increase government subsidies
produce more
consume more
build infrastructure
etc.
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1. Cut taxes on businesses < fortune 500. These are the ones which cannot get loans. Larger companies aren't feeling nearly the crunch... least the ones that don't suck and shouldn't die anyway. 2. Maintain Bush tax cuts for any making median income or less. Get rid of the tax cuts for those of greater than median income as these have 0 positive impact on the economy. You don't even have to raise the taxes, just let the Bush tax cut die and return to 90's levels of taxation. (fyi, that tax cut cost more than either war, and Republicans are saying even today it should be reinstated with 0 way to pay for it, meanwhile, they are refusing unemployment which is proven to help the economy, and which costs less than a whole fraction of these tax cuts - real deficit hawks those ones) 3. Extend unemployment. The economy gets back $1.60 on every $1 spent on unemployment, the idea it hurts the economy is completely unfounded. 4. Cut military spending. We spend more on military than every other country in the world combined. 5. Use these trillions saved on military spending and reinvest in infrastructure, high speed railways, etc. These are high paying jobs that could really boost the economy once you get the potential millions of individuals working on these types of projects across the US. 6. Rewrite the foreign tax codes, things like NAFTA, so that foreign workers are on a level playing field with American workers, hence no more benefits for companies who enslave Indians, Mexicans, Chinese etc in the sweatshops where they make literally pennies on the tens of dollars an American makes. 1
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Extending unemployment benefits may help short term but long term, it will hurt due to the inflation, which then more unemployment will assume, and more benefits will resume, and inflation increases. Government spending = inflation Inflation is bad. Military spending spending is pointless. Not sure why we need a trillion dollar defense system when apparently it was fooled by 6 Muslim men. First, you want to create high paying jobs, but then you want to rewrite NAFTA in order to bring back unskilled jobs back from Mexico and China. NAFTA was good because we could freely trade with Mexico and Canada, and dump our garage onto them. These are jobs held by unskilled labor. They were held by unskilled labor before they moved out of America. This is good. It is the duty of Americans to acquire new skills and adapt to more competitive labor market. We are becoming a high tech economy. 2
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Well cutting government spending would help with our national debt problem. Cutting taxes for everybody would put more money back into consumers pockets which would mean they would have more money to spend. Once they start spending, businesses would be gaining profits. Once they start making profits they could start hiring again. Bringing manufacturing jobs back to US soil would bring quality back to our goods and companies couldn't rely on sweat shops and slave labor and our products wouldn't be tainted with lead. 1) Cut taxes for everyone. 2) Decrease government spending especially welfare. 3) Recall all our mililtary, and keep an eigth on active duty, keep military research at 20%. 4) Deregulate the economy. Free trade all the way. 5) Increase infrastructure for military/civilian purposes. 1
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1) Cut taxes for everyone. Agreed. 2) Decrease government spending especially welfare. Agreed, except for the welfare part. Many people on welfare simply lost their jobs due to the recession. They have families to feed. 3) Recall all our mililtary, and keep an eigth on active duty, keep military research at 20%. A military that do not participate in wars become inexperienced and ineffective. 4) Deregulate the economy. Free trade all the way. Partially agreed. 5) Increase infrastructure for military/civilian purposes. Whilst simultaneously decreasing spending? On the military you are right, that wars keep them sharp. But America shouldn't be the babysitter of the world. And war is extremely expensive so it should be avoided. If you decrease enough spending in military and welfare and misscelanious waste, you can create something like the Dwight D. Eisenhower National System of Interstate and Defense Highways which according to wikipedia costed $425 Billion in 2006 dollars. That's a lot less than the military, and welfare programs. 1
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Firstly, Unemployment benefits do not adversely affect the economy. When money is spent it goes to private industry and a portion of this returns to the government. The rest is then spent and filtered back through the economy. The same applies to benefit money. There is not enough to save, so about 95% is spent within a week of its receipt. Cutting welfare payments would not decrease the deficit, but rather exacerbate the deplorable situation that 10% of the country find themselves in. Now, some suggestions (for the United States). 1) Avoid cutbacks on education, welfare and infrastructure. 2) Organise increased grants for small businesses. 3) Grant a respite on mortgage interest rates for families under $45,000 for one year. 4) Implement a flat income tax rate of 35% for all families. A flat tax rate of 20% for families under $24,000. Remove all other forms of tax on family incomes excluding VAT. This will, among other things, decrease the level of bureaucracy. 5) Implement a 10% tax on all speculative incomes. 6) Forcibly remove Obama from government. Before proposing anything more radical, I would have to review more information than can realistically be done before the end of this debate, but the above six would be a start. 1
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