although I'd been in favor of cuting corporate taxes in half (lower than 25%), 0% capital gains for 2 years (although 5% counds better. I don't like interest fixing at the consumer level (no wage or price controls of any kind, ever).
And bring back the Resolution Trust (Bad Bank) Corporation of the S&L days.
Most important is the Up Tick rule reinstaement. Worst thing that Bush Admin ever did to the economy.
So Obama was explicit yesterday during his 1st press conference that Geithner will specifically lay out details of the govt's financial plan. Today Geithner's press conference was dull, boring, didn't say anything, not unless you call that powerpoint type presentation as detailed. The market responded, and Geithner doesn't have a detailed plan.
Each President gets a 100 day free pass, but if I was grading Obama after 3 weeks, he would get D-. It started w/Bill Richardson removing his name as Commerce Secy for approving a state govt contract to a company that provided him campaign funds. Then it was Geithner's tax problems. Then it was Daschle's tax problems. Then it was Obama's Chief Performance Officer tax problems with a nanny. Doesn't he know how to vet candidates?
Then the not so stimulative stimulus plan. Obama basically turned it over to Pelosi and team to craft. Obama needed to take ownership, and dictate the contents of the plan, including removing that stupid "Buy American" clause. Now we have socialist Canada and Europe threatening us with retailatory actions.
Just eliminate Mark-to-Market and the Uptick rule and the market will soar. Then follow-up by reducing the corp tax to 25%, capital gains tax to 5% for 2 years to encourage risk. Fix the fucking housing problems w/a 4% fixed rate mortgate, and fence off the toxic assets.
I don't care if your plan makes more sense than any presented by either party. It doesn't pander to either political party and there isn't a bit of pork in your plan. WTF is wrong with you?
The most positive effect of your plan vs the "stimulus" plans offered by the pols is that it won't tank the dollar. We have been worried for years that some nation state like Iran would gain the capability to counterfit our currency and flood the world with dollars, sending our currency and our economy into a tailspin. Who needs enemies? We are about to commit financial hare kari by flooding the world with trillions dollars ourselves. Just how the fuck is the world supposed to absorb all these trillions of dollars that are backed by nothing? Hyper inflation is inevitable, the only silver lining is the fact that the Euro isn't in much better shape.
Rumor has it that Mark to Market will be suspended tomorrow. That is significant in putting a current value on these toxic assets.
Is fucking a fat liberal congresswoman considered pork? I'd TOFTT if that would get us an actual stimulus plan.
although I'd been in favor of cuting corporate taxes in half (lower than 25%), 0% capital gains for 2 years (although 5% counds better. I don't like interest fixing at the consumer level (no wage or price controls of any kind, ever).
And bring back the Resolution Trust (Bad Bank) Corporation of the S&L days.
Most important is the Up Tick rule reinstaement. Worst thing that Bush Admin ever did to the economy.
You probably have, and it really is so simple. I misspoke on the Uptick Rule. I should have said reinstate. Rumor has it the Mark to Market rule will be eliminated tomorrow. Re Capital gains, since most investors have capital losses in 2008 and have pulled out of the market, you would think tax revenue on 5% is better than everyone sitting on the sidelines.
Now I am not a Limbaugh fan, and unlike libs wishing failure for a President to fail, but if the first 3 weeks are any indication for the next 3 years, Obama will be a one-term wonder. Can you spell Carter?
with cash from the taxpayers. Is that the best plan that you can propose?
are the taxpayers Charlie. Until you figure that out, none of your communist drivel will make a bit of sense.
that charlie isn't an employee of the "Daily Worker". He's just as much as a capitalist as you or I. His "red act" is just that, intended for our amusement. Unlike the trannyboy who is out there where the buses don't run.
I am not a capitalist. I don't own the means of production. I have an agreement with the capitalists that allow me to use their means of production. I am sure that there no capitalists posting on TER. Most
are either lackeys , stooges or have agreements similar to the ones that I have with the capitalists.
we need soemone here to remind us there in no god
BTW, is uptink like headlice?
Tax cuts.
Let us hear it.
Stocks, bonds, etc., qualify for Capital Gains tax if you hold it for 12 months which in turn drove companies to show profit Quarter after quarter while sacrificing long term.
The management compensation is also based on Stock prices. Everybody won except the dumb ass working stiff.
The duration should be increased to 60 months minimum and with graduated rate. Just like if take money out of you IRA or 401K you federal taxes plus a 10% penalty.
Corporations should be given investment and innovation incentives, not tax cuts.
your last point.
Tax credits for investments in infrastructure would be one hell of a lot better way to jumpstart the economy than any government stimulus.
Keep in mind, the only weapons the government has to use are spending increases and cutbacks, and tax cuts and increases. That is basiscally the governments entire arsenal in the economic war. The only other bullet the government has is interest rates and they are for all intents and purposes at zero.
There should be two main goals. One is to encourage business to invest, the other is to encourage banks to lend. Tightening capital gains exclusions is asinine, giving tax credits is a very good start.
the best of 2 bad things.
I thought for sure you’d suggest that the DEMS “invest” a meager 4 BILLION in companies that do things like make Frisbee golf courses or repair ATV trails. Surely by the time BHO’s term ends they’d have the ONE TRILLION back in profit.