Posted by
TaxMeNot on Monday, February 09, 2009 1:19:44 PM
Cutting income taxes by 2/3 or 66%, state, FICA and federal, is the best way to flow money to the street of consumers and STIMULATE our economy. This will immediately increase net spendable income for both governmetn and private sector jobs. Companies are cutting jobs. Why? Smaller profits. Less business. Unemployment figures can be immedately reversed only by cutting income taxes accross the board. No, in case you're wondering. We don't have to ask the question, "Who's going to pay for the tax cuts?" Dah! The increased number of jobs will put a ton m oney into the government treatureies!! This is an historically proven fact. People who love to fight this repeatable h istorical fact by asking that question. They do it because they don't look at the number of jobs this action creates. Raising taxes causes companies to cut job counts. Lowering them causes them to grow business and add job counts.
Since banks are not flowing money fast enough to the business and consumers, this stream of money is pinched off. In the absence of bank loans, the best way to flow money to the streets and really stimulate business that createsjobs is to issue new reduced income tax rates which are immediately effective on your next pay check and everyone who gets a pay check. Net spendable cash will be immediately put into the hands of workers and give them a more relaxed spending attitude. You just watch the money flow.
Spending money the government doesn't have is another way to raise taxes ahead of the government having received it. It gambles with your future and the future of your children and grand children. Why not gamble with your own net income instead of letting Pelossi, Reid, Obama gamble it for you?
I will guarantee that lowing all income taxes by 66% along side all government levels not spending on ANY new legislative bills WILL STIMULATE the economy in a much less complex way that congress is trying to do.
Making more government jobs, the primary items in the Obama Stimulus (really a non-stimulus pork package) will not flow money to the street. It is isolated to a select set of government jobs most likely to be populated with illegal immagrants.
Less tax, more business, more job numbers available, more taxes collected overall and fast. The economy will begin to soar despite the bank flow pinch.