The Official Tax Cut Thread

I'm for the tax cuts, they are producing jobs.

KK EDIT: Try it here in the Taxation thread.

 

A tax cut can definitelly be a short-term stimulus for consumer spending. Wal-mart lays responsibility for the difference between this year's sales revenue and the same time a year ago directly at the feet of the checks that a lot of families received last year. But this is partly because Wal-Mart took the step of cashing the checks right in the store.

But that's a one time fix and tax cuts can't cure a fundamentally weak economy. Moreover, handing out tax cuts in the face of record deficits and a costly foreign military adventure is fiscal irresponsibility.

Plus, there's not a lot of evidence that the majority of the tax cuts going to the wealthiest Americans really did much to stimulate economic growth. And again, consumer growth has stalled, productivity growth has slowed, job growth is looking increasingly stagnant, the stock market is looking increasingly bearish and oil prices are near record highs. Further tax cuts will only increase the deficit and transfer even more of our current economic plight onto the backs of future generations.

 

Tax cuts are a bit of a paradox, since they never really do anything except screw us up more!