Paul Krugman: 'Caricature Economics`
By John Amato Tuesday Nov 25, 2008 1:00pmLooking for new ideas to help the economy? Please don't look to Rep. John Boehner for any new ideas. And this is not from the debate episode of the West Wing.
He said this on FNS:
“If we’re really serious about creating jobs, what we ought to do is, we ought to eliminate the capital gains tax for the next two years on any equities that are purchased,” he said. He argued that cutting the corporate income tax would help boost employment.
The answer is, eliminate the capital gains tax. Now, what was the question?
This brings back a memory: on Sept. 13, 2001, I got frantic calls from staffers on Capitol Hill. They informed me that Republican leaders in the House were trying to use the terrorist attack to ram through, you guessed it, a cut in the capital gains tax.
He's something you can never forget.
Meanwhile, at a panel discussion with Rich Lowry of National Review, I heard the latest argument against the Employee Free Choice Act: now would be a really bad time to make union organizing easier, because it would hurt business confidence in a recession.
Recession, recovery, whatever: it’s always proof that the Bush years should continue forever.
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Let's give even more money to the people who've sold out the nation...
The top 1% only hold 40% of the assets!
I mean, shoot, who else would benefit than those who actually KNOW what capital gains are? Who gives a crap about those Plebians who won't benefit or even know what capital gains are even though they'll vote for anything their GOP handlers will tell them to...
verification that a politician is a reflection of his constituency.
his district wannabee pro golfers???
The Republicans are in their tailcoats and top hats, ankle deep in ice water in the engine room of the
TitanicSS Grover Norquist, shoveling coal into the boilers after striking the iceberg. Their ship is holed and flooding, but they're in denial about the consequences for themselves and those of us in steerage...That's a good one!
How about we tighten our belts, live within our means, and push Washington into the ocean.
“If we’re really serious about creating jobs, what we ought to do is, we ought to eliminate the capital gains tax for the next two years on any equities that are purchased.”
Presumably Boner would also favor eliminating the deduction for capital losses. He doesn't mention it in so many words, but I'm sure he's all for it. Especially now that so much capital has depreciated.
"This brings back a memory: on Sept. 13, 2001, I got frantic calls from staffers on Capitol Hill. They informed me that Republican leaders in the House were trying to use the terrorist attack to ram through, you guessed it, a cut in the capital gains tax."
.....that the "New Pearl Harbor" of 9/11 was a ploy to put this whole
"theft of a nation" into action. I know, I'm crazy.......#:)
Classic still: the tax cut that was advertized as the result of a surplus of funds, and when the surplus disappeared, became the solution to the deficit. Impeccable Reasoning 101/a
I saw a commercial today decrying ballots that aren't secretive. They are going all out to destroy unions. Big bucks are going into these ads. Unions are being swiftboated.
Boehner is right. Everyone knows if that reduction in the capital gains tax were passed, world hunger would end, peace would reign, and cures for cancer and AIDS would be developed.
being retired, I have been very carefully living within my means for some time now.
I'm NOT switching to Bud Lite even to save the fucking country...
and I'm joining you - if it's going into my body, it ain't gonna be crap!
How about Miller High Life?
Tastes better too.
I was told by a real good lookin bartender that happens to be my daughter-in-law that the new Budweiser American Ale is really very good but most people see the Budweiser name and say "no thanks"
lets have no taxes....fire the boner...and put his criminal ass in prison
of course with no taxes, that means that in prison, he wont get fed
but we can raise money for the government by cameras in his cell and watching him slowly starve to death
This whole mess is such a laboratory case of the use of the "Shock Doctrine". Naomi Kline should be featured on every talk show to point out how the Republicans at every turn are trying to use the situation to push through unpopular and toxic legislation and the general public is not informed enough to protest.
I know, the Republicans are hanging me in effigy.
That's ok, I have voodoo dolls.
Why should I pay the same amount for easy money that people pay for hard-earned money? I'm special.
I have a solution. Lets go back to what the capital gains tax was under Reagan. No way the GOP can complain about that! They wouldn't dare call St. Ronnie a marxist.
(note that the Reagan rate was about 10% more than our current rate).
It's NOT - JOBS, JOBS-JOBS-
IT,IS -
A New Way 2 Live, Work and Play ON OUR EARTH
see how at...
http://www.EarthBall.org
peace, love & later, www.RogerART.com
CEO takes a pay cut 2:20
Japan Airlines' CEO slashes his pay below the pay of pilots. CNN's Kyung Lah reports
http://peterrost.blogspot.com/2008/11/ceo-in-...
These guys suggest lowering the tax on money made from stock investments everytime the market tanks. Most people have no gains to tax, and for those who still have unrealized gains, why give them one more incentive to sell??
x
Peter Schiff was right all along and made fun of all along the way. The ninny Neil Cavuto even told Schiff to move on to his exposing of Santa Claus. Jackass Ben Stein and Art 'Laughing Stock' Laffer are also clipped shining their fiscal acumen.
http://www.youtube.com/watch?v=2I0QN-FYkpw
Obama should consider Schiff as a go to guy on his economic team.
and I would also suggest advice from Paul Krugman and the Indian professor often heard on Thom Hartmann (name is lost at the moment). I wrote on a previous post how I predicted this Republican Great Depression several years ago and I was laughed at by many people who have (had) much more money than I do. Even my former Merrill Lynch financial advisor scoffed at my concerns (likely he is unemployed now and a year ago I took my money and ran).
The point that must always be remembered is that those who do not know their history are doomed to repeat it. Look at the parallels of today and the 1920's. It's eerie.
Boner is a confirmed idiot...
I have considered myself a progressive liberal all of my adult life - hell, I voted for McCarthy in '72. However, as it pertains to capital gains and estate (death) taxes, I part company with the progressive crowd. I ask you; "Why should a person, who has, through their personal effort at earning an income and their blood sweat and tears at building sweat equity into their home or small business portfolio, who pays sales taxes, federal and/or state income taxes, property taxes, corporate franchise taxes etc. etc. etc. on the money put into their home or business, have to pay over 30% capital gains taxes on profits beyond their basis?" The ONLY thing, and I mean ONLY thing I have agreed with the present administration on, has been the reduction in capital gains taxes to the current 15% level. However, I believe capital gains should be eliminated COMPLETELY, right along with the present estate tax. These are unfair taxes and stymie the opportunity for anyone to get ahead through their personal effort. If someone is fortunate enough to stand to gain from their lifetime of effort, why would anyone be opposed to them realizing the benefit of this effort. If you have never built a business from the ground up or put years of work on improving your property, I don't think you'll appreciate my words, but if you are a progressive, you must take an objective look and consider that it's not all about the evil rich guy. Most people being screwed by federal capital gains and federal estate taxes are your average small business person and homeowner and recently deceased who truly wants LESS government (well, maybe not the dead guy), but his survivors will feel the pinch and I say WHY? What untainted rational could justify these bullshit taxes? Please don't talk to me about "fairness", I become very conservative when you point out the poor folk who don't have a pot to piss in - that's a whole 'nother matter. Unfair capital gains taxes to pay their way is NOT the answer. I have paid plenty of OTHER taxes - and I support sending these tax dollars, the dollars presently being pissed away to finance the bullshit oil wars in the middle east and fatten the coffers at Halliburton et. al. to help out the less fortunate. So, allow me to achieve and hold onto my American Dream. Prosecute the criminals robbing our treasury and selling the U.S. down the river and leave me have the slice of the pie that I have earned.
Signed - True Patriot, Veteran, College Grad, Small Business Owner, Not Rich, Liberal, Red State Resident,Tired of Bullshit, 9/11 Truth Seeking, Former Christian and Middle Aged White Guy on a quest to help create a new paradigm.
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