Im sorry i dont have a lot of infomation on this, it was briefly mentioned in a radio artical here

The artical said that bush and the reserve bank were working on a rescue package for the US ecconermie

what form will it take?
Tax cuts?

As i belive it the RB controls intrest rates independently of the Goverment so what would they need Bush's aproval for

Tax cuts or infustructure projects are all i could think of that Bush could authorise. Unless they want legislation to peridently stop honeymoon periods ending but wouldnt that require congress rather than the executive

Im sorry i dont have a lot of infomation on this, it was briefly mentioned in a radio artical here

The artical said that bush and the reserve bank were working on a rescue package for the US ecconermie

what form will it take?
Tax cuts?

As i belive it the RB controls intrest rates independently of the Goverment so what would they need Bush's aproval for

Tax cuts or infustructure projects are all i could think of that Bush could authorise. Unless they want legislation to peridently stop honeymoon periods ending but wouldnt that require congress rather than the executive

Here, read all about the proposals: http://www.msnbc.msn.com/id/22705103/

As i belive it the RB controls intrest rates independently of the Goverment so what would they need Bush's approval for
Because hes the boss, the federal reserve board is not entirely independent. They can be fired.

If you have the patience for it you can go to Bloomberg.com and watch chairman Bernanke's video presentation on what he intends to do about it.

He acquired the nickname 'Helicopter' from economists years ago because he stated it might be necessary at some point in the future to drop money into a depressed system...as if from the sky.

So what is your opinion on the package?

After all inflation rates are high even with the credit crunch so there is the risk that in fixing the credit problem that the ecconomy could burn too hot

Also where do you think the tax cuts should be targeted. For instance it maybe a little harsh to provide an increase in unemployment benifits and pensions that will be taken away again in 12 months

Because hes the boss, the federal reserve board is not entirely independent. They can be fired.


While true in theory, that's somewhat misleading. The president has to "show cause" - and his disagreement alone would not be enough. (Also, the members appointments had to be approved by the Senate so their direct dismissal is very unlikely.)

Moreover, in the entire history of the Fed (it was established in 1914) not a single member - chairman or otherwise - has ever been dismissed.

So, although it IS possible, go figure the odds.

So what is your opinion on the package?

After all inflation rates are high even with the credit crunch so there is the risk that in fixing the credit problem that the ecconomy could burn too hot

Also where do you think the tax cuts should be targeted. For instance it maybe a little harsh to provide an increase in unemployment benifits and pensions that will be taken away again in 12 months

I think it's a reasonable approach and no, it's certainly not likely to "burn too hot" (cause inflation).

What are you talking about - "targeting tax cuts?" The ONLY tax cut proposed was for businesses. :shrug:

And what's harsh about getting a gift? Besides, they all know up-front that it's only for one year only. :shrug:

Acording to the artical that was posted it wasnt only buiness. In fact they wanted to aim the tax cuts at the low and middle income earners because they are more likly to spend the money rather than saving it

i may have missread the artical but thats what it seemed like

Secondly if you are living below the povity line and the goverment said to you "here, we need you to spend money so here you go but dont get used to it because we arnt doing it for you we are doing it for the buiness" you dont think that is unethica?

Acording to the artical that was posted it wasnt only buiness. In fact they wanted to aim the tax cuts at the low and middle income earners because they are more likly to spend the money rather than saving it

i may have missread the artical but thats what it seemed like

Then you didn't read it very well - go back and try again and you'll find that what I said was accurate.

Secondly if you are living below the povity line and the goverment said to you "here, we need you to spend money so here you go but dont get used to it because we arnt doing it for you we are doing it for the buiness" you dont think that is unethica?

Of course it's NOT unethical! When is giving people money unethical????? And it's NOT just for business, it's for the benefit of the economy - which is just another way of saying it's for the benefit of EVERYONE. Can you not see that?

Here's my plan: Cut the capital gains tax, cut corporate taxes, repeal Sarbanes-Oxley, make Bush's tax cuts permanent, immediately cut federal spending (maybe go thru and fire a ton of government employees, get rid of whole departments-like education, agriculture, etc. Let the states handle that crap), sell off some federal land, announce drilling will proceed anywhere in the US where there's oil ASAP and fuck the enviro-idiots (not only that, the US will grant land leases to whoever can get the oil wells going the quickest: get oil flowing within the year, and your first year lease is free), same thing with nuke plants-no environmental impact report required, build a plant within a year, no taxes paid on your first year in operation!;stop all foreign aide (sorry, we need the money ourselves).

Oh, and rebuild the fuckin' world trade center. No "freedom tower". No museum. Rebuild the damned thing just like it was, only bigger. Each building to be the biggest in the world. Finish that bastard within the year, no taxes on any business that locates itself there for the next ten years. It's absurd and a national embarrassment that there's still a whole there after all this time.

Here's my plan: Cut the capital gains tax, cut corporate taxes, repeal Sarbanes-Oxley, make Bush's tax cuts permanent, immediately cut federal spending (maybe go thru and fire a ton of government employees, get rid of whole departments-like education, agriculture, etc. Let the states handle that crap), sell off some federal land, announce drilling will proceed anywhere in the US where there's oil ASAP and fuck the enviro-idiots (not only that, the US will grant land leases to whoever can get the oil wells going the quickest: get oil flowing within the year, and your first year lease is free), same thing with nuke plants-no environmental impact report required, build a plant within a year, no taxes paid on your first year in operation!;stop all foreign aide (sorry, we need the money ourselves).

Oh, and rebuild the fuckin' world trade center. No "freedom tower". No museum. Rebuild the damned thing just like it was, only bigger. Each building to be the biggest in the world. Finish that bastard within the year, no taxes on any business that locates itself there for the next ten years. It's absurd and a national embarrassment that there's still a whole there after all this time.

so you would fuck the country over?

Read only

including tax rebates of $300 or more for many Americans.


President Bush told congressional leaders privately he favors income tax rebates for people and tax breaks for businesses

Putting money into the hands of households and firms that would spend it in the near term” is a priority, he said

Especially important is making sure a plan can put cash into the hands of poor people and the middle class, who are most likely to spend it right away, he said, though he added that research shows affluent people also spend some of their rebates.

seems like its for people as well as businesses

Read only


“ including tax rebates of $300 or more for many Americans. ”

“ President Bush told congressional leaders privately he favors income tax rebates for people and tax breaks for businesses ”

“ Putting money into the hands of households and firms that would spend it in the near term” is a priority, he said ”

“ Especially important is making sure a plan can put cash into the hands of poor people and the middle class, who are most likely to spend it right away, he said, though he added that research shows affluent people also spend some of their rebates.







seems like its for people as well as businesses

Of course the plan is for the benefit of people as well as business - that's what's called the whole economy!

And a one-time tax rebate is NOT the same thing as a tax cut!! Do you still not understand that??

Here's my plan:


Who do you think is going to pay for this new world trade center?

I'm all for abolishing unconstitutional departments though.

President Bush has called for $145 billion worth of tax relief (tax breaks, rebates) in hopes of stimulating the economy and fending off a recession. :bravo:

He said it should be temporary and geared to restore money quickly to the pockets of consumers, so they can infuse the economy with new dollars as the housing market slump and other factors put it at risk.

http://www.foxnews.com/story/0,2933,323770,00.html


W did this before when he inherited a recession from Clinton. In 2001, he added refunds of up to $300 per individual and $600 per household as a recession-fighting element of the tax cut plan that had been the centerpiece of his 2000 campaign.

Great plan. Even greater president. :yay:

OK, I admit failure.

Can anyone parody this ?

I know it's basically giving money to poor people but we need this plan, they will spend it, and W deserves credit for pushing it.

I know it's basically giving money to poor people but we need this plan, they will spend it, and W deserves credit for pushing it.

Tax relief is a proven way of giving help to the poor and unemployed. Who do you think you are kidding ? Just wait a year and see the Chinese economy overtake yours.

Part of the reason you are having problems with your economy is the amount you are spending on maintaining a presence in the Middle East. Iraq , of all the Arab nations,had the best health service in the Middle East before Bush illegaly invaded that country. Now that health service is in ruins. In many places hospitals are without running water, electricity and drugs. Guess who destroyed their infrastructure ?

Saddam Hussein was a tyrant but the reason you invaded Iraq was not to get rid of him. You did it to widen your sphere of influence. Why not remove a few dictators that are supported by the US, or some of the many others in the world.

Some Americans cannot understand why they are perceived as bullies abroad. They seem to have no understanding of foreign affairs nor any inclination to understand what is happening in the world. I believe I'm right in saying that 40% of you have no passports. Fortunately there are many Amereicans who do not take such a narrow view of the world as you and your ilk do, and one can only hope that they will prevail in the forthcoming presidential election. That would be a positive outcome for the US and the rest of the world.

I know it's basically giving money to poor people but we need this plan, they will spend it, and W deserves credit for pushing it.

Why? I thought you said the economy is in great shape? Do I smell a flip-flop?

Ha! Exactly.

I think the economy is in good shape but I am not broke/poor. We see things differently.

This package will stimulate the economy.

http://news.yahoo.com/s/ap/20080118/ap_on_bi_ge/stimulus_impact_analysis

You don't agree with Bush that the economy is heading to a recession if emergency measures aren't taken?

No. I think the media is pushing the recession a lot more than the actual numbers indicate. I agree with W that this is a good idea. It worked in '01 when he inherited Clinton's recession.

So there's no real recession coming, but we need Bush's plan anyway? Isn't this all about an ideology of tax cuts?

No. W is doing what he thinks is best for the country. He always does.

I think the economy is in good shape but I am not broke/poor. We see things differently.

I am not poor/broke either.

But I'm not deaf, dumb and blind either. Get this Sandy, I can actually see outside of the scope of MYSELF. I know that's difficult for many of you Repubs.

Like when his administration revealed the identity of a covert CIA counter-terrorism agent?

I am not poor/broke either. But I'm not deaf, dumb and blind either. Get this Sandy, I can actually see outside of the scope of MYSELF. I know that's difficult for many of you Repubs.

:confused: And your point is? :confused:

We see outside the scope of our rich selves. That's why we're approving this tax break package/money for the middle class/poor. They'll spend it faster than anyone else. Most rich people will just bank it.

Like when his administration revealed the identity of a covert CIA counter-terrorism agent?

How covert was Valerie Plame at the CIA? Her top-secret code name was "Valerie Plame." :rolleyes:

http://www.anncoulter.com/cgi-local/article.cgi?article=146

:D

How covert was Valerie Plame at the CIA? Her top-secret code name was "Valerie Plame." :rolleyes:

http://www.anncoulter.com/cgi-local/article.cgi?article=146

:D

stra-te-ger-y

You don't agree with Bush that the economy is heading to a recession if emergency measures aren't taken?

There are certain areas of the economic ladder that have seen a dramatic slowdown due to their own mishandling of their respective industries. One of those is the housing industry in which millions of mortgage loans were made to individuals that should have never been given them. Those individuals now cannot pay those loans made to them and their homes are being foreclosed upon. That has nothing to do with the government as many people would like to believe and yet those people only blame the government because it is the only way to "shift " the blame away from piss poor judgments of a very corrupt industry.

The minimum tax rebate is going to be 800 per individual, 1600 per household. The sooner they pass it the better.

One of those is the housing industry in which millions of mortgage loans were made to individuals that should have never been given them. Those individuals now cannot pay those loans made to them and their homes are being foreclosed upon. That has nothing to do with the government as many people would like to believe It has everything to do with relaxation of federal oversight, in banking and in financial markets.

Bankers and brokers and financiers and investment executives and so forth will, if allowed, deceive and lie and cheat people out of huge sums of money. It's because they are human, and they can.

Something similar happened the last time this same crowd was in charge of the US federal oversight of the financial markets. They deregulated the Savings and Loans, and the bailout of the consequences cost the US taxpayers hundreds of billions of dollars.

In the intervening years, we saw Long Term Capital Management, Enron, WorldCom, etc. So everyone was certainly warned, if the S&L circus wasn't enough.

As far as one shot tax rebates helping "the economy" - please. The money is going to be borrowed from the Chinese in the first place, to be paid off by the taxpayer later, and anyone who is only 800 dollars away from being OK and makes enough to pay more than 800 dollars in federal income taxes already, is not in that bad a shape. The key part of W's plan, from his crowd's POV, is the "business tax incentives" - will anyone be surprised to find out what that means ?

Meanwhile the following is not part of W's plan, and he should not get credit for it if it happens: Democratic congressional leaders agree that one-time checks should be in the package but are working on a broader measure that would also include aid targeted to the poor and unemployed.

It has everything to do with relaxation of federal oversight, in banking and in financial markets

It has everything to do with a corrupt mortgage industry if you ask me. Everyone complains that there's to much government now you come along and say there's not enough of it.

I got your stimulus package right here.

I got your stimulus package right here.

Careful , you may give Chaney a stimulation that gets his real heart working.:D

Oh, and rebuild the fuckin' world trade center. No "freedom tower". The freedom tower is quite attractive...in spite of the silly name.

But doesnt Manhattan already have enough tall buildings? A memorial park is a great idea. :)

Back on topic. Politicians have to get this word 'growth' outta their heads. Its like a cancer.

Does everything have to grow to infinity? Economists seem to believe it.

Zero growth in the GDP suits me just fine.

Instead of trying to artificially stimulate more growth the feds should be working on fundamentals...like reigning in the warlords at the pentagon, getting the debt under control, and making clean efficient energy technology tax exempt.

Here's my plan: Cut the capital gains tax, cut corporate taxes, repeal Sarbanes-Oxley, make Bush's tax cuts permanent, immediately cut federal spending (maybe go thru and fire a ton of government employees, get rid of whole departments-like education, agriculture, etc. Let the states handle that crap), sell off some federal land, announce drilling will proceed anywhere in the US where there's oil ASAP and fuck the enviro-idiots (not only that, the US will grant land leases to whoever can get the oil wells going the quickest: get oil flowing within the year, and your first year lease is free), same thing with nuke plants-no environmental impact report required, build a plant within a year, no taxes paid on your first year in operation!;stop all foreign aide (sorry, we need the money ourselves).
Oh, and rebuild the fuckin' world trade center. No "freedom tower". No museum. Rebuild the damned thing just like it was, only bigger. Each building to be the biggest in the world. Finish that bastard within the year, no taxes on any business that locates itself there for the next ten years. It's absurd and a national embarrassment that there's still a whole there after all this time.


:bravo: :yay:

Meanwhile the following is not part of W's plan, and he should not get credit for it if it happens: Democratic congressional leaders agree that one-time checks should be in the package but are working on a broader measure that would also include aid targeted to the poor and unemployed.

Most of the poor already get enough government handouts. They get welfare, food stamps, free schooling, free/cheap/subsidised housing etc...We throw billions at the poor every year. Same for unemployed. There is NO reason to be poor or unemployed here. This is America for God's sake. Just about anyone can get a job/start a business. Many of the 50 million criminal aliens here work and have businesses. Most people here are poor because they are poor stewards of money. I see it every day.

If they're going to hand out money maybe they should just give everyone a million dollars and call it a day. Then most all mortgages would be paid off people would be spending money like its going out of style. Problem solved.

then inflation would go through the roof

p.s. I started a thread about this called "W's Economic Plan" at 1:30 this afternoon in the politics forum. :) Maybe a mod could combine them?

I have combine this thread with sandy's at her request

BUT i would like to remind you all that this is NOT politics
This is not the thread for stating how good or bad Bush is, if you want to do that go back to the politics forum
This thread is about the ECONOMICS of the rescue package

So the solution to a HUGE debt is, consumers should spend more money? :confused:

Who do you think is going to pay for this new world trade center?
.
Private funds, we're just giving them a tax break. But if no one took up the challenge, fuck it. Cut off funding for something else and fund it. It pisses me off not seeing those buildings there.

Here's my plan: Cut the capital gains tax, cut corporate taxes, repeal Sarbanes-Oxley, make Bush's tax cuts permanent, immediately cut federal spending (maybe go thru and fire a ton of government employees, get rid of whole departments-like education, agriculture, etc. Let the states handle that crap), sell off some federal land, announce drilling will proceed anywhere in the US where there's oil ASAP and fuck the enviro-idiots (not only that, the US will grant land leases to whoever can get the oil wells going the quickest: get oil flowing within the year, and your first year lease is free), same thing with nuke plants-no environmental impact report required, build a plant within a year, no taxes paid on your first year in operation!;stop all foreign aide (sorry, we need the money ourselves). Basically the standard IMF reforms, short version, for a failed economy.

They haven't worked anywhere yet, AFAIK. I think they just about killed Argentina and a couple of others. Any idea why they'd work better in the US ?

Meanwhile, you have admire the sheer nerve of W using the mortgage bubble as a justification for capital gains tax cuts, interest rate reductions, and business deregulation. What was the definition of "chutzpah" again ?

interesting

So what happened to all the posts in the original thread?:confused:

I have a problem with the title of this thread, too. This is not a US "rescue" package. It's a tax plan. We don't need rescuing. Not from anyone. Ok, maybe from the criminal aliens...

Read about Bush's stupid plan: http://newsforums.bbc.co.uk/nol/thread.jspa?sortBy=2&forumID=4114&edition=2&ttl=20080119160636&#paginator