Msg. 05799 of 54959 (This msg. is a reply to
05796 by
Cactus Flower)
Jump:
Hi CF, I've gotta say I'm disappointed in the Pres.'s "jobs plan." In particular the payroll tax cut. I can't imagine middle class workers hardly noticed the difference in "take home pay," the highly paid did a little while the lowest earners certainly didn't. Big business saved a bundle, although it certainly didn't stimulate job growth. So, now he wants to double it. Retirees receive S.S. benefits based on contributions, which increase w/ inflation. Who is going to make up the difference for the loses of the reduced contributions (employer and employee) and the inflationary cost associated w/ it over 20-30-40 yrs for younger workers. No wonder the GOP likes it. I suppose some might argue that w/o it, it could have been worse. It made no sense to me the first time, and doubled down it makes even less. Oh well.
Instead of tax cuts, I'd like to see the government give folks equal value smart cards which work for expenditure but not for saving and that expire and are recharged monthly (so that unspent funds are not saved).
Time to draw Keynesian tools into the twenty first century.
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