Well the Tax Cuts are going to be extended

[tazz007]

That is all nice and dandy, but lets say people just keep saving the extra money. Doesn't that pretty much throw the concept out of whack.

What if pigs could fly.


Man it has all ready happened in the 80's it works period!

[sig239]

I really wish people would stop calling it a taxcut. no one is getting a tax cut we are however getting current tax rate extended. as far as the deficit goes cutting spending is the only thing that will help. if we gave more money through higher taxes, it would just be spent and not for deficit reduction but rather on social programs.

This and the retards who say its adding to the deficit.

[YALE]

So you don't think if you got a little extra money the thought wouldn't cross your mind to put it away for future emergencies, etc.? Millionaires have a different mentallity then the average working person, IMO. They see the money as a given almost.

The first sentence makes the presumption that millionaires are making money solely to put it into savings, and the presumption that money in savings is somehow walled off from the rest of the economy. The second second sentence addresses the first as though you'd implied there was no difference in mentality, only to state there wasn't. That's where my confusion comes from. If I'm not explaining myself well enough, I give up.

[mstng86]

Fixed. You did lump them together.

Actually, it should read.

Originally Posted by mstng86
You're saying THEY as if I am lumping millionaires with average folks. I am saying they are two different classes and have different mentalities with each.

I must have been typing too fast.

[Sean88gt]

Gives Obama something to run on.

[YALE]

Your saying THEY as if I am lumping millionaires with average folks. I am saying their are two different classes and have different mentalities with each.

You're saying THEY as if I am lumping millionaires with average folks. I am saying there are two different classes and have different mentalities with each.

Fixed. You did lump them together.

[Odizzle]

I really wish people would stop calling it a taxcut. no one is getting a tax cut we are however getting current tax rate extended. as far as the deficit goes cutting spending is the only thing that will help. if we gave more money through higher taxes, it would just be spent and not for deficit reduction but rather on social programs.

x2

[GhostTX]

That is all nice and dandy, but lets say people just keep saving the extra money. Doesn't that pretty much throw the concept out of whack.

If they save in banks, then the banks have more money to loan out to people/businesses. Which, of course, results in someone else spending.

In theory, banks were to only loan out the money they have on hand. Once upon a time, the purpose of banks was a secure place to keep your money. In exchange for that, the banks would loan out your money to other people and the bank would pay you interest to do that (which make you want to keep your money in the bank). Of course, the banks would charge more interest on the loan which is where the banks would make their money. The system works, until EVERYONE want their savings NOW (run on the banks during Great Depression).

That's the problem with the sheeple out there...they think money is IDLE in banks/investments. Money is NEVER idle.

[mstng86]

You're saying they're not worried, but then you're worried they're likely to save it, because you'd save it? Your logic is flawed.

Your saying THEY as if I am lumping millionaires with average folks. I am saying their are two different classes and have different mentalities with each.

[Tx Redneck]

actually, by calling it a tax cut they can perpetuate class warfare on the wealthy and continue manipulating those who arent

Good, as far as I am concerned, they need to be running year round. There is no point in going back to your home state or district. The only reason they did that in the past was to keep touch with their constituents. That is totally unnecessary now with technology.



True, it isn't a taxcut but a tax rate extention. Just a clever way to make the average person feel better about the situation. I can haz mo money. NO your already haz mo money now.

[YALE]

So you don't think if you got a little extra money the thought wouldn't cross your mind to put it away for future emergencies, etc.? Millionaires have a different mentallity then the average working person, IMO. They see the money as a given almost.

You're saying they're not worried, but then you're worried they're likely to save it, because you'd save it? Your logic is flawed.

[The King]

I really wish people would stop calling it a taxcut. no one is getting a tax cut we are however getting current tax rate extended. as far as the deficit goes cutting spending is the only thing that will help. if we gave more money through higher taxes, it would just be spent and not for deficit reduction but rather on social programs.

The Social Security payroll tax reduction of 2% is indeed a tax cut, albeit a temporary tax cut.

[mstng86]

Now if they can just get spending under control.

The good news is that Harry Reid pulled the $1.3TRILLION spending bill from the Senate floor yesterday. It is starting to look like they will pass a continuing resolution to keep the government running until mid February.

Good, as far as I am concerned, they need to be running year round. There is no point in going back to your home state or district. The only reason they did that in the past was to keep touch with their constituents. That is totally unnecessary now with technology.

I really wish people would stop calling it a taxcut. no one is getting a tax cut we are however getting current tax rate extended. as far as the deficit goes cutting spending is the only thing that will help. if we gave more money through higher taxes, it would just be spent and not for deficit reduction but rather on social programs.

True, it isn't a taxcut but a tax rate extention. Just a clever way to make the average person feel better about the situation. I can haz mo money. NO your already haz mo money now.

[Tx Redneck]

I really wish people would stop calling it a taxcut. no one is getting a tax cut we are however getting current tax rate extended. as far as the deficit goes cutting spending is the only thing that will help. if we gave more money through higher taxes, it would just be spent and not for deficit reduction but rather on social programs.

[Sgt Beavis]

Now if they can just get spending under control.

The good news is that Harry Reid pulled the $1.3TRILLION spending bill from the Senate floor yesterday. It is starting to look like they will pass a continuing resolution to keep the government running until mid February.