Administration Considering Tax Cuts

[Newsjock]

Source: Associated Press

WASHINGTON (AP) — The Bush administration, faced with a deteriorating economy and a big jump in unemployment, said Friday it was considering an economic stimulus package that might include tax cuts to ward off a recession.

... Officials stressed that President Bush has not decided yet to offer a proposal but was looking at a variety of options with a plan possibly being unveiled around the time of his Jan. 28 State of the Union address.

... White House spokesman Tony Fratto said tax cuts were an option being considered.

... Some suggested a one-year tax rebate of $500 might provide a sufficient shot-in-the-arm for the economy. But they stressed that the proposal would have to be passed quickly.

... It was expected that Bush would combine any new tax cuts with a renewed call to make permanent his first term tax cuts, which are now scheduled to expire at the end of 2010.

Read more: http://ap.google.com/article/ALeqM5heWSF9tlVbX2wAVCi7sLAxTfo2hAD8TVBGSO0

[yourout]

1. If the country was not in debt up to it's collective ass....

they maybe could do something to help.

But not in our current state.

[TwilightZone]

2. Let's spend the $500 on torches and pitchforks.

[aquart]

16. You made me laugh which made me cough.

[Tunkamerica]

17. hah

unexpectedly funny as shit

[Edith Ann]

21. Torches and pitchforks

I'm with you. I LOVE IT.

[belpejic]

3. Gack!

Sounds like the Stephen Moore johnson stimulus package to me.

[NEM]

4. The rebate bought Bush the presidency

When Mister Bush gave people, what they thought was a refund, of either $300 or $600 during his first year in office, people just thought Bush was a great guy. What the morons did not realize was that it wasn't a refund, it merely was a rebate from their next tax return and when they filed they would be paying it back from their payroll deduction.

Anyway, that is what they are trying to do now, once again, buy Republican votes for the 2008 election because the majority of Americans are too stupid to understand what it is all about, and 500 bucks in the pockets of the brain dead can buy a lot of votes.

[harmonicon]

6. yep

It should have been illegal last time. No different than promising money to someone for their vote.

[harmonicon]

5. the next time a Republican says "tax cut", we ought to say "loan"

Do most people understand that when the government cuts taxes it means it takes out more loans? I think people know that you shouldn't take out a loan when it's not desperately needed, especially with the credit-crises we're in now. People know that bad loans come back to bite you in the ass.

[phrigndumass]

25. Yes! Borrow and spend ...

Liberals have always been labeled as "tax and spend" by the repubs. It's about time we labeled them "Borrow and Spend" and make it stick. The difference is we pay interest on borrowed money (or rather, our children and grandchildren do).

[Deny and Shred]

30. Couldn't agree more Phrig...

...the Reep's go deeper into deficit, since Reagan anyway, than Clinton ever did. Clinton, who ran, miraculous as it may seem today, budget surpluses at the end.
Somehow, the public still clings to "tax and spend liberal", despite all the evidence that Repub Admins spend way much more than Dems.
...and they spend it WITH NO WAY TO PAY FOR IT! - and still enjoy the label of fiscally responsible.
In case any supply-side advocates are out there, the tax cuts (Reagan and W)have not grown the pie so much that the smaller percentage satisfies our spending needs. The Nat'l debt is no longer "a debt owed by Americans, to Americans", so maybe it might be time to consider it an economic issue that warrants a different approach.
The neocon approach to national debt is like C. Walken's approach to recording a band, except their mantra is "more tax-cuts" instead of "more cowbell."

[phrigndumass]

36. more cowbell ... LOL

Preaching to the choir, my friend.

btw, welcome to DU! I'm a newbie just like you.

[tabasco]

38. Democrats are now the fiscal conservatives. "Tax & spend" = "Paying the bills."

"Republican tax cuts" = borrowing money from China for short-term political gain.

[harmonicon]

39. I know - I don't know how to make that publicized though

The media still insists on calling Republicans "conservatives" when they're anything but. The Republicans we have now are something new, and something bad.... and they slipped in under the radar by slowly taking over a political party. Sure, Nixon was a crook, but do you really think he or Eisenhower would recognize the party of today as their own? I doubt it. Of course I would say the same about most present-day Democrats and FDR, Robert Kennedy, etc.

[phrigndumass]

40. So in effect, that $500 would be coming from China

Not coming from GW at all. Thanks China! Pity we can't give China some short-term political gain instead of *.

[Robbien]

26. They aren't calling it a tax cut. It is an economic stimulus bill donchaknow.

Tax cut will be two words carefully avoided. Congress cannot vote against a bill to help out our failing economy, now can they?

Helping the economy is the last thing this bill will do. It is just a bill to stimulate the economic elite getting them all riled up to once again thrust their hands into the pockets of the working classes.

And our "moderate" Democrats will be once again sitting on the Bush/GOPer side of the aisle all ready and eager to undermine the Democratic party and pass this god awful bill.

[Adsos Letter]

7. 500 bucks...

...500 bucks...

...500 bucks...?

...hmmmmm...500 bucks...

and what, exactly, will 500 bucks do to turn the situation around? :wtf:

...*chirp*...*chirp*...*chirp*...

[shraby]

12. That would about buy 3 tanks of gas for a

medium size truck. Wouldn't buy a new t.v., washing machine, refrigerator, drier, or stove. It would buy a buncha trinkets and that's the truth! pffft

[Dont_Bogart_the_Pretzel]

37. I remember the last time...

$300.00 didn't go very far back then, and the way thing are now (worse) $500.00 won't be much better.

[ingac70]

8. Elections coming up, and things don't look good for the R's....

Gotta whip the dumbasses up in a frenzy...

[Snarkoleptic]

9. And mebbe you proles can use the five hondo to stave off foreclosure.

[sjdnb]

10. Cons, Bush - tax cuts and everything else ... just click your heels three times and say

Tax cuts solve everything;
There is no deficit;
The war will be paid for by oil revenues;
Saddam has WMDs and a Nuke program;
The dollar is not falling;
Foreclosures are not at an all-time high;
The economy is booming;
Oil is not at record prices;
The wars are going well .... etc. etc.

Bush/Cons=The Wizards of Oz

[Historic NY]

11. Five hundred bucks, that won't even pay for my tax increases...

state, local & county and of course the big rip off school taxes.

[rodeodance]

13. good gawd. He is paying for a Repug win next Nov!!!

[wellst0nev0ter]

14. Take Two Tax Cuts And Call Me In The Morning

Christ, is this jamoke a broken record or what?

[sutz12]

15. When your only tool is a hammer, all of your problems start to look like nails. nt

[Up2Late]

18. Jeeez, for someone who always says that "the markets" will self-correct, he sure doesn't want to...

...let that happen. What happened to "the invisible hand of the markets" Georgie?:silly: :dunce:

Now that they finally took away half of the artificial stimulus they added to the economy for the last recession in 2001-2002 (the cut in interest rates to 1%) he wants to add it all back and then some! Oh Brother! :eyes: :freak:

[Judi Lynn]

19. Truly sad. How may ways can he mock an entire country? n/t

[salin]

20. trying to give one present (after many stinkbombs) to the GOP in Congress

for trying to throw a tax vote before the 2008 general elections.

But the thing is, many recent polls have indicated that the public does not favor more cuts and would rather see that going to cutting the deficit. I think that, once again, they have worn out the carput with this previous "winner" for them.

[Vinca]

22. This is their standard response to a crisis. Borrow more money from China

and cut taxes. A $500 check would be like Shrub's parting gift. $300 coming in, $500 going out. I wish he'd just leave before he does any more damage.http://politicalhumor.about.com/library/blbushclock.htm

[panzerfaust]

23. At Last: an effective economic program!

The previous cuts have just not been big enough to bring full prosperity!

Let the good times roll.

[Maeve]

24. One trick pony--give everyone an ice cream cone and it will all be better! eom

[DemoTex]

27. Proof that the Neocon goal of destroying OUR country prevails.

Escalate the war .. cut taxes further. It is the Bu$hco maelstrom to perdition.

[rockybelt]

28. That is the kind of thinking

that would make you cut your finger off because your toe hurts so much. Really stupid.

[maseman]

29. Bullshit! Tax cuts my backside...

Whenever a Republican friend or other brings up the tax cuts argument I always rapid fire off a lis of taxes that went up due to the Federal tax cuts.

Yes Shrub reduced the Federal Income Taxes but those dollars must be maxe up elsewhere. Where? My state taxes have gone up, my local (city) income has increased 1/2%, my property taxes increased this year, many states gas taxes have increased, many school systems in my state are in dire shape due to less federal taxes and no local school levies passing, oh and let's not forget about the price of tuition going through the roof due to less federal taxes.

It is a domino effect. Less federal taxes equate to more everything else taxes. There's no stimulus to it. The dollar is crashing due to the heavy debt the country has collected.

[TexasLawyer]

42. Also we will pay for further tax cuts with inflation

and that is a very regressive tax.

[JerseygirlCT]

31. You've got to be kidding.

"Look honey, the cupboard's almost bare." "Well, let's throw what's left out, that will solve the problem".

And how many cuts will impact those making less than say half a million a year? Precious few, I suspect.

[Toots]

32. Democrats should rally behind this and say at last some sanity from the Administration..

Bush* is finally accepting that Demand Side Economics is what works and that his previous Supply Side has failed miserably... If Democrats had a single brain cell they would go on all TV and Radio shows and make this point very strongly. It is what Democrats have been saying for quite some time....

[nealmhughes]

33. Well, Congress let the Midland Mediocrity loose with a limitless credit card.

Now to prevent the Congress from turning on the Mediocrity, they wish to keep them enabling and silent.

[annabanana]

34. It is the only tool in that TOOL's belt.

It is the only thing he has done about the economy in 7 years...

[Xenotime]

35. Everytime they fucking do that it damages this country even more.

[Politicub]

41. Oh god - not the $500 rebate thing again

What a waste that was. We find the country massively in debt and Bushco wants to drain the treasury even more. No f-ing thanks.

[alfredo]

43. I don't make enough to pay taxes, so no blood money for me.

[high density]

44. $500? Wow great, my car insurance is paid for 6 months

That'll definitely fix everything in the economy. :eyes:

How long does it take a Republican to learn that tax cuts != job growth? More than eight years apparently.

[donkeyotay]

45. We should hire lawyers now to read the SOTU speech for us.

If this is a trial balloon for one of their really good ideas, I hate to think what the rest of it is. Even a republican with their head far enough up their trunk to not scrape the B/C 04 bumper sticker off their suburban assault vehicle might wonder. Anyway, if this is a trial balloon, let's do give Mr. Bush the FULL CREDIT that he said he wanted for his fabulous economy. He bitched when he took office that the recession was Clinton's, and then whined that we wasn't getting credit for the robust economy that was created under his stellar leadership. It's yours, Chimpy Boy. You earned it. For the touching bit where you have some citizen stand up while you tell their story, maybe you could get a banker and give us the stats on how much money the fed is pumping through them to keep them afloat. Maybe you should offer us the same deal instead of some cheap ass vote bribe. Now he's the Briber in Chief. Better watch it. They put Siegelman in prison for quid pro quo for less.