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JohnnyTheA
Senior Member
 
Join Date: Feb 2005
 
2009-02-06, 20:35

I think tax cuts COULD be useful. Imagine if anything bought in the next two years was exempt from capital gains taxes? We are one of the largest corporate taxing countries in the world. How about zeroing the corp taxes for two years? Those are the type of things that will yield lasting growth. It seems a LARGE part of the stim bill is building transportation things. Thats probably important too but the states also play roles in transportation. A part of what they are doing is just paying the states for transportation projects (that are 'shovel ready') that the states no longer can afford because they have to have balanced budgets. Its all good........ in the short term..

Eventually when the economy heats up again (I wish I knew when), we will have another problem. INFLATION. I now name that problem "Obamanomics". That part, they won't be able to blame on the previous Clinton/Bush administrations who are taking blame for todays calamity..

What is MORE important is the "Buy American" provisions. If they don't strip those out, it might spark off global protectionism. If THAT happens the this recession could really become a depression. Obama says he is against the "wording" of the provisions and wants to at least bring the bill into conformance with global trading rules.. But if he can't.... There will be big problems.

JTA
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