|
January 19, 2008
Let the
Hillary Clinton is unveiling an aggressive $70 billion stimulus package today that would boost the U.S. economy and help families who have been hit hardest by the economic downturn across America. Amid growing worries about a worsening of the U.S. economy, Democratic presidential candidate Barack Obama proposed a $75 billion economic stimulus plan on Sunday that includes worker tax credits, a one-time pension supplement and help to homeowners facing foreclosure. The bit about giving Social Security folks--remember seniors have higher voter turnout--is yet another sign that Obama is above average for the politician species. Last week, I laid out my blueprint for stimulus of up to $110 billion, including $70 billion in immediate measures and $40 billion in contingent tax rebates. As President Bush laid out his vision for an economic stimulus that could reach $150 billion, ... UPDATE (1/19 9PM): Well that didn't take long--Romney has now upped the ante: Coupled with a $32 billion program Romney has already proposed to eliminate taxes on all savings for those making under $200,000 annually, the package costs $233 billion — or about 1.7 percent of the gross domestic product. Romney's proposal is significantly different from the previous plans--it has little in the way of rebates and focuses more on improving incentives. His proposal to reduce the corporate income tax rate is especially noteworthy, albeit not so much for any short run stimulus it would provide. Romney's plan is more economically literate than the AP reporter who wrote the article on Romney's proposal. The reporter, Glen Johnson, needs to brush up on tax incidence: [Romney's plan also calls for] an elimination of Social Security payroll taxes for workers over 65 that would cost $20 billion and equally benefit businesses and individuals. Posted by E. Frank Stephenson at 09:42 AM in Economics
|
The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith
Our Bloggers
Joshua HallRobert Lawson E. Frank Stephenson Michael C. Munger Lawrence H. White Craig Depken Tim Shaughnessy Edward J. Lopez Brad Smith Mike DeBow Wilson Mixon Art Carden
Blogroll
Search
Archives
By Author:
Joshua HallRobert Lawson E. Frank Stephenson Michael C. Munger Lawrence H. White Edward Bierhanzl Craig Depken Ralph R. Frasca Tim Shaughnessy Edward J. Lopez Brad Smith Mike DeBow Wilson Mixon Art Carden
By Month:
November 2008October 2008 September 2008 August 2008 July 2008 June 2008 May 2008 April 2008 March 2008 February 2008 January 2008 December 2007 November 2007 October 2007 September 2007 August 2007 July 2007 June 2007 May 2007 April 2007 March 2007 February 2007 January 2007 December 2006 November 2006 October 2006 September 2006 August 2006 July 2006 June 2006 May 2006 April 2006 March 2006 February 2006 January 2006 December 2005 November 2005 October 2005 September 2005 August 2005 July 2005 June 2005 May 2005 April 2005 March 2005 February 2005 January 2005 December 2004 November 2004 October 2004 September 2004 August 2004 July 2004
Powered by
Site design by |