Monday, September 20, 2010
Many economists say to stay with Bush's tax cut program
The debate is still on-going, whether to cut taxes, raise them, who to cut/raise them on, and by how much. In this article, 31 top economists were surveyed and 18 said to extend tax cuts (that is, not increase taxes on anyone, not even the top tax brackets). The arguments for all sides are interesting, each with their own relevant and valid theories of support.
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4 comments:
The definite answer to not raise taxes very much, which is most likely not what he was planning on doing anyways. I am curious to know what would happen if taxes were cut drastically for all brackets since there is not a war still to be funded. This would obviously stimulate the economy and would not drive us further into debt. Its a possibility for a solid plan.
This topic is a very dangerous topic for President Obama especially as he moves towards re-election. Many people blame Bush for a huge downfall in the economy and following his tax views could be very unpopular, but at the same time many people are still hurting badly in this poor economy so it could also be a very unpopular move for Obama. It will be interesting to see how this topic is handled moving closer to election time.
This topic is a very dangerous topic for President Obama especially as he moves towards re-election. Many people blame Bush for a huge downfall in the economy and following his tax views could be very unpopular, but at the same time many people are still hurting badly in this poor economy so it could also be a very unpopular move for Obama. It will be interesting to see how this topic is handled moving closer to election time.
I agree with Andrew. I'd like to see what a tax cut would do to boost the economy. Since we aren't fully into a war right now, the taxes don't necessarily need to be as high as they are. Lower taxes would promote more spending which would lead to a stimulated economy. It's a situation worth trying in my opinion.
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