Msg. 05803 of 54959 (This msg. is a reply to
05801 by
tkc)
Jump:
Hi tkc,
I don't think you can expect macroeconomics to have obvious effects at the micro level. The point is that the effect is collective across society, and decisions are changed only on the margin. So I think your method of testing the hypothesis has a wee flaw to it.
Having said that, even if Obama's bill passes, it isn't enough to have a profound effect. It may limit the pain (and/or spread it over the longer term).
Hi Orda, That's astounding, I get it. Tonight a neighbor dropped by, he makes ~$65K w/ a 50% pension after 25 years + lifetime health benefits. I asked him "did you notice your paycheck increased because the SS deduction was decreased." He responded "no, you're kidding me." Now he's the first person I ever asked, but it confirms my belief.
Yes, the economy fell out of bed, (I didn't realize it was that bad) but I find it extremely difficult to believe that the "payroll tax" reduction provided any stimulus. To boot, someday, somehow, someones will have to make up the difference. I appreciate the article as I don't watch MSNBC or Fox news.
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