Boooooosh Tax Cuts Extended by Congress

[soonercruiser]

As Tax Cut Bill Heads to Obama's Desk, Partisan Debate Rages On
Published December 17, 2010
FoxNews.com

WASHINGTON -- As President Obama prepares to sign into law Friday the massive bipartisan tax package that delighted most Republicans but divided his own party, the debate over its implications rages on.

In a rare reach across party lines, Obama negotiated the $858 billion package with Senate Republicans. The White House then spent the past 10 days persuading congressional Democrats to go along, providing a possible blueprint for the next two years, when Republicans will control the House and hold more seats in the Senate.

Incoming House Speaker John Boehner hailed the deal but said there's still room for improvement.
"It's a good first step, but let's be clear," he said. "If we actually want to help our economy get back on track and to begin creating jobs, we need to end the job-killing spending binge. We need to cut spending significantly, and we need to provide more certainty to small businesses around America."

The bill was passed just before midnight Thursday in a remarkable show of bipartisanship in the House, despite objections from some Democrats, who wanted to impose a higher estate tax than the one Obama agreed to. The vote was 277-148, with each party contributing an almost identical number of votes in favor -- the Democrats 139 and the Republicans 138.
http://www.foxnews.com/politics/2010/12/17/congress-passes-extend-tax-cuts-jobless-aid/

[Blue]

The jobs aren't coming back until the banks start lending again.

[NormanPride]

Well, technically the jobs won't come back until businesses start taking risks with the money banks aren't lending out yet. :D

[Blue]

Well, technically the jobs won't come back until businesses start taking risks with the money banks aren't lending out yet. :D

True, but I know many small business owners who would love to get a hold of some credit. Now thats part of what got us into this but who cares? The govt is carrying on like its 1999. Spending like crazy. Seems the only people feeling this crunch are us peons.

[3rdgensooner]

Is a Boooooosh tax cut similar to a brazillian?

[StoopTroup]

If you can't afford it or can't at least leverage something for it....you probably should be borrowing.

[pphilfran]

Well, technically the jobs won't come back until businesses start taking risks with the money banks aren't lending out yet. :D

Well, technically the jobs won't come back until the consumer stops paying down debt and starts spending...

[StoopTroup]

Well, technically the jobs won't come back until the consumer stops paying down debt and starts spending...

We're Doomed! :D

[Blue]

If you can't afford it or can't at least leverage something for it....you probably should be borrowing.

Then we will take our "Middle Class to Lower Class" Depression like men. Hoo-rah!

[pphilfran]

We're Doomed! :D

Probably....:D

[StoopTroup]

As long as we control a large amount of warheads....I think we'll be OK.

[Ike]

Well, technically the jobs won't come back until the consumer stops paying down debt and starts spending...

well, technically, banks won't lend until they feel there is a better chance of getting repaid. Banks are afraid they won't get repaid their lent money to businesses because they aren't sure that there will be more consumers buying the things that these businesses would make with that money.

This is where gov't spending can actually do some good. The governments money is as good as anyone elses when it comes to buying things. If the government decides to buy a lot of things, banks will feel confident lending to businesses that sell to the government, who can then hire more people to make more things to sell to the government, and those new workers can then go out and pay down their own debts, and start buying things again. And of course, they can also start saving for the tax hikes that are inevetible from deficit spending.

[pphilfran]

well, technically, banks won't lend until they feel there is a better chance of getting repaid. Banks are afraid they won't get repaid their lent money to businesses because they aren't sure that there will be more consumers buying the things that these businesses would make with that money.

This is where gov't spending can actually do some good. The governments money is as good as anyone elses when it comes to buying things. If the government decides to buy a lot of things, banks will feel confident lending to businesses that sell to the government, who can then hire more people to make more things to sell to the government, and those new workers can then go out and pay down their own debts, and start buying things again. And of course, they can also start saving for the tax hikes that are inevetible from deficit spending.

Not enough of the stimulus was put into infrastructure projects...they are slow to generate jobs but in the long run they are the best way to get the economy turned around...

[Frozen Sooner]

Not enough of the stimulus was put into infrastructure projects...they are slow to generate jobs but in the long run they are the best way to get the economy turned around...

What he said.

[JohnnyMack]

Not enough of the stimulus was put into infrastructure projects...they are slow to generate jobs but in the long run they are the best way to get the economy turned around...

I thought the best way to get things going again was to give it to Goldman Sachs?

[pphilfran]

I thought the best way to get things going again was to give it to Goldman Sachs?

It is easy to confuse the various billion dollar financials...but Goldman Sachs was not stimulus...it was TARP...

We had to support the banks or credit would have been gone...we would have been in a mell of a hess without those bailouts...though I would have done the money changing process far differently...

[StoopTroup]

http://ropeadope.com/images/uploads/news_images/Acorn_large.jpg

[StoopTroup]

http://image.shutterstock.com/display_pic_with_logo/543/543,1161876252,1/stock-photo-chestnuts-roasting-on-an-open-fire-well-barbe-2061243.jpg

[pphilfran]

I thought it was an acorn and the the next pic would be a blind squirrel...

[soonercruiser]

well, technically, banks won't lend until they feel there is a better chance of getting repaid. Banks are afraid they won't get repaid their lent money to businesses because they aren't sure that there will be more consumers buying the things that these businesses would make with that money.

This is where gov't spending can actually do some good. The governments money is as good as anyone elses when it comes to buying things. If the government decides to buy a lot of things, banks will feel confident lending to businesses that sell to the government, who can then hire more people to make more things to sell to the government, and those new workers can then go out and pay down their own debts, and start buying things again. And of course, they can also start saving for the tax hikes that are inevetible from deficit spending.

Duh!
That's the kind of thinking that keeps increasing the national debt to records heights (with no appreciable benefit). :mad:
When is comes to the "Big Pictue", government printed extra dollars are not as good as consumer spending? Government does not have it's own money with equal buying power to consumers! Even if it takes foreign comsumers. And, that is another problem in of itself!
What is the fallout of this short-sided economic vue??? Any?? You bet!
:rolleyes:

[soonercruiser]

It is easy to confuse the various billion dollar financials...but Goldman Sachs was not stimulus...it was TARP...

We had to support the banks or credit would have been gone...we would have been in a mell of a hess without those bailouts...though I would have done the money changing process far differently...

Obama bailed out G-S by employing a buch of their executives in his administration.
Just sayin'.
:rolleyes:

[SanJoaquinSooner]

The jobs aren't coming back until the banks start lending again.

There's tons of money, but no one wants to borrow until the customers come back.

[soonercruiser]

http://ropeadope.com/images/uploads/news_images/Acorn_large.jpg

"OH NUTS"!!
Or, "from tiny ACORNS", thousands of illegal voters grow.
:D

[Blue]

There's tons of money, but no one wants to borrow until the customers come back.

Not in my line of work. Credit is frozen.