Quote Originally Posted by Stuckey:
explain how Obama's economic plan will help spur our economy?
I truly want to know. I am a fiscal conservative to the core, but am always open to new and interesting ideas, but I didn't see it when I read Obama's plan.
It is idealistic and will drive our economy into the ground.
Economies succeed (both nationally and internationally) when there is less regulation and less taxation which creates innovation and freedom. And, please don't tell me about our economy now. The markets are cyclical. Always have been, always will be.
When people rely on governments for answers, your country goes backwards. Just look at Latin America.
And, another topic, redistribution of wealth is disturbing and nobody should endorse it unless you are lazy and can't get out and do something on your own in this great country. I work 50 hours a week and am currently getting my Masters in Finance and CFA. Yeah, it sucks now and I can't sit on the couch and watch as much tv as some people, but I'll be rewarded in the end. I put the time and work in so please don't touch my hard earned money more than you already do.
If Obama's plan is executed to the T, we are in trouble. Yes, the middle class will have less taxes, but they will also have less jobs because corporate profits will be driven into the ground. Let's just hope he learns from people like Emanuel who have learned in the past what happens if you try to take this country too far left.
I will be on the edge of my seat for his Cabinet appointments as they will be vital to the direction of our country.
Sorry for the rant. Love to hear any responses. And, I'l just listen. I don't argue politics. It gets you nowhere, but I feel as if people can learn from other opinions that are out there.
No offense, but you are just shooting down what Obama's plan before you truly understand it. Isn't that the "true" reason you started this thread? Eventhough you seem to be picking a fight, I will take you for your WORD. I am a guy who has minored in Finance and Economics in Undergrad and got a MBA from extremely good schools, so I think I know what I am talking about.
Trickel Down Economics is a great extremest capitalist theory, but just like extreme communism, it does not work once human nature gets involved. The economist John Kenneth Galbraith noted that "trickle-down economics" had been tried before in the United States in the 1890s under the name "horse and sparrow theory." Mr. Galbraith wrote, "Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows." Galbraith claimed that the horse and sparrow theory was partly to blame for the Panic of 1896.
Keynesian theory actually holds that tax cuts can be used as an economic stimulus. Keynesians generally argue for broad fiscal policies that are direct across the entire economy, not towards one specific group. This is all Obama is trying to do, give the masses tax cuts to spur the economy. Since poorer people tend to not save as much as richer people, they will more than likely use this money to pay a bill or buy some stuff they do not need. This increased spending will put more money in the hands of the business owners and the rich. The extra money the business owners and the rich get from the extra spending will cover most of what they are paying in new taxes, so they can still take their extravagant vacations, continue their country club memberships, and drink their Crystal.
You know what is really funny. All you guys in here who back trickle-down economics do so not because you guys are rich, but you do it because someday you wish to be rich, and you don't want to be hurt when you are rich. Let me do you a favor and give you a reality check. Most people in this Great Country of ours do well if they have a better financial life than their parents. Yes, in America, one can grow-up very poor and end up rich, but that is still the exception and not the norm. My parents did it, so I know first hand it is possible. Plus, my dad will be hurt just like Warren Buffet will be hurt by the new tax code, but they are the type of men who feel that it is richer people's duty to help those who are not as fortunate. The higher taxes paid by folks making over $250K a year should be used to help pooer people eventually go to College or Trade Schools. A more educated US populous will eventually make our economy better. Also, the increased tax revenue will help us fund our War on Terror in the way it should be. We should never, ever, ever fight a war and not provide our troops with what they need to be victorious! We just have to make sure the government uses the extra revenue in a way that is better for the country!
I tried to tell shrimp but he's not all there.
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