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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (59649)	2/19/2009 1:41:49 PM
From: JakeStraw	3 Recommendations Read Replies (2) \| Respond to of 224755

Not if the gov't is responsible and reduces spending. Kind of the opposite of what is presently happening in Washington. Real stimulus would have been cutting payroll taxes across the board...

To: Kenneth E. Phillipps who wrote (59649)	2/19/2009 1:48:12 PM
From: TideGlider	2 Recommendations Respond to of 224755

So why is Obama reducing payroll taxes? The reason is because the people he wants to reach don't pay income taxes and in fact get huge Earned Income Credits. Payroll taxes are a huge part of Government revenues

To: Kenneth E. Phillipps who wrote (59649)	2/19/2009 2:02:50 PM
From: Geoff Altman	1 Recommendation Read Replies (1) \| Respond to of 224755

When payroll taxes decline, the deficit grows even faster. Kenny, if instead of thinking of the deficit as some megabeast, think of it in terms of a household. What would a normal household do if it found itself in a similar situation, decreasing revenue, increasing costs, some distant cousins screaming for money and with all this, your wife and kids want to go to Disneyland and buy a boat. Now, what do you think a normal household would do? The first thing a responsible person would do is cut expenditures...... I ask you, what would you do? If we're speaking gov'ts then they've got to cut programs and clear all this garbage that we've got on our books. 2 programs that could be cut right away are the Dept of Education and Farm Subsidies.......

To: Kenneth E. Phillipps who wrote (59649)	2/19/2009 3:28:52 PM
From: DizzyG	2 Recommendations Respond to of 224755

Speaking of the DaliBama's housing plan, Kenneth... It appears that the market is not particularly enthused about it: cnbc.com LOL! Diz-

To: Kenneth E. Phillipps who wrote (59649)	2/19/2009 3:30:14 PM
From: DizzyG	1 Recommendation Respond to of 224755

Obama Stimulus Saves Microsoft Billionaire Hundreds Of Millions Nicholas Carlson\|Feb. 19, 2009, 8:00 AM\|182 Billionaire Paul Allen is a Microsoft cofounder, the owner of the NFL's Seattle Seahawks and the owner of the NBA's Portland Trailblazers. And, thanks to the stimulus bill President Obama signed this week, he's also about to be as much as a billion dollars richer. Here's how: * Allen owns a majority stake in cable provider Charter Communications. * Charter Communications this month said it would reduce its debt load by $8 billion and enter Chapter 11. * Normally, partners at a firm like Charter Communications would have to pay taxes on the amount of debt forgiven in this process, which is, in a sense a one-time income windfall. Tax law calls it a "deemed distribution." * But under the new bill, companies like Charter Communications will be able to avoid paying taxes on forgiven debt until 2014. Even then, Paul will have until 2018 to pay it completely off. * Paul owns about half of Charter, so his share of the Charter Commuincations' $8 billion debt forgiveness is around $4 billion. At a tax rate of 25%, Allen could avoid paying as much as $1 billion in taxes until 2014, tax expert Robert Willens told the WSJ. Not clear how a corporate tax benefit would be passed through to Paul's personal tax payments? A reader informs us: "It's not a 'corporate tax' since it's a partnership rather than a corporation. The partners pay tax on their share of a partnerships income, which is why partnerships are referred to as "pass-through" entities." For what it's worth, one of Paul's representatives told the WSJ the billionaire didn't lobby for the windfall. It just fell into his lap, lucky dog. So what will Paul do with that money until 2014? Invest it in technology that reduces our dependence on foreign oil and creates new "green collar" jobs for America, per the goals of Obama's stimulus plan, of course. Or maybe Paul could buy a new boat! Here are the two he already owns: businessinsider.com That's some stimulus package, Kenneth. LOL! Diz-