What's thepoint of small taxcuts if we have topay much more for fuel&electricity costs & a bigwar debt later?

Question

File TWH 07142006 :spot crude hit 78$/bbl overnight and stock market is crashing while Bush43 at summit focused on foreign policy issues ignoring all the pressing domestic issues at home--esp the costs of gasoline and the unchallenged, on-going, rip-off of American consumers of energy.

Note: We need a "Cost of Living" subcategory under Economics

mmenaquale please delete your tag-on insult. It is not necessary and it shows you have an immature attitude in this forum. All I did was ask a Q and that occassions an insult? Why?

The team that gave you peanuts for taxcuts and mega taxcuts and taxcredits for oilcompanies and other business corporations run by fat *** CEO's exporting jobs and capital to India and China also took us to into Iraq on debt starting a hornets nest of problems which have raised energy prices to consumers with no economic relation to any underlying increases in real costs. The name of that team is Cheney and Bush43 and if Federal tax revenues are up because of the taxcuts, It isn't me who is making more money and paying more in taxes. Too bad so few see how the dots connect and do it while presuming to lecture me on subjects in which my knowledge is not theoretical. Somebody pulls a barrel of oil out of the ground for a buck and then sells it for 78$/bbl. That's thievery and fraud not free- market capitalism.

I can't help but wonder if the oilco's are ghosting Yahoo Answers to try to discredit any comments about the oil industry rip-off

file TWH 07162006

Answer 1

If there is ONE THING that a person should walk of of a Macro class with is this: TAX CUTS MEAN NOTHING. Put that money directly into the bank. Tax cuts do not solve budget issues; tax cuts now = more money you will have to pay in the future. The house doesn't lose - they find a way to get "their" money back somehow.

So, what's the point you ask? Well, in hopes that most people are NOT forward looking, the government wants people to feel secure and positive about the state of the economy (to give consumer confidence a boost). I hope we're all smart enough not to fall for this trick: don't spend that extra money. Invest the would-be government pocket change or shove it in a savings account - anything except spend it.

They need to fix the budget before Americans start to see positive changes in the amount of extra cash laying around (as if so many Americans do...).

Answer 2

Small tax cuts are used to get consumers to spend money. By giving money to larger companies a greater % of the dollar spent will go to the government.
here's an example:
You have $10, if you were in a low tax bracket, say 20% for this example the government would receive $2 (10*.2=2), but if you were to spend that money at wal-mart who is in a much higher tax bracket, about 50% the government would receive $5(10*.5=5). Thus by giving back money that will be taxed less, people spend more and large companies get taxed more and the government actually receives more money.
This tactic tends to work.

In regards to the G8 summit, well obviously he is on point to speak about international issues since that's what the G8 is about. Especially considering the serious conflict in the middle east.

Note: Learn something about politics/economy/math before you ask dumb questions.

Answer 3

Well, Bush was at a FOREIGN POLICY SUMMIT with the leaders of foreign countries who are probably not all that concerned with our domestic issues. As for the rest of it, the "small" taxcuts that you speak of are beneficial and just think of how much it would suck to pay higher taxes AND more for gas. You know that gas prices and tax rates aren't intertwined, right? I mean, the government (seriously, this includes Bush AND Cheney) does not control gas prices, etc.

As for the "unchallenged" rip-off of consumers over energy, that is what happens in a capitalist society. It is NOT the governments job to regulate industry and it certainly is not the governments job to tell a certain industry they can't do wht they are doing. It is up to the CONSUMER to fight hte industry and let them know we won't pay so much. So, start learning to light a fire with flint, since that is the only way you'll get to cook without energy.

Answer 4

The small tax cuts, or bones, tossed to the taxpayer by the administration is that same administrations way of saying "Look, we're for you citizens. We sympathize with your plight."
Most people who voted for Bush can't see through this doublespeak. Of course, the very rich understand exactly what this is all about.
Bush is going to an International (G8) summit. In the other G8 countries, people pay upwards of (equivalent) $7.00 a gallon for gas. They do not want to hear the US whine about paying just over $3.00 a gallon.
As long as the Bush administration is in office, for that matter, most any Republican is in office, the citizens economic position is the last thing that will be addressed. First comes lining their own pockets, or prospective, future pockets. Then, setting up their cronies in corporate positions in patronage (Halliburton)
contracts. Protecting their friends and finding scapegoats for scandal (Enron)

Answer 5

there'll be jiffy period transformations, yet they are genuinely minor. The unlawful extraterrestrial beings picked 17% of the plant life... not a lot in any respect, and often in the parts of oranges, pears, peaches. so that they picked 17% of the crop, and they created a large debt that has been envisioned in the thousands of billions. One worry with all of it is they used faux I.D.'s, and till they have been lengthy gone for 3 months, that welfare card continues to be good. we are able to lose some plant life... we are able to lose thousands and thousands in taxes. ===================== the position are our plant life going. they are being packaged in spoilage evidence boxes, and shipped distant places to the folk we owe money too. We bought the autos.. the garments, the shavers and all some thing of it. And nevertheless do. they are paying for food, and really, it really is correct of the variety food and plenty. not purely a good purchase left over both because we do not have the water to develop production.. we haven't adjusted the exertions furnish.. we do not verify out the plant life for well being concerns.. we do not cater to the global marketplace for revenues.

Answer 6

The small tax cuts, while unrelated to the price of oil/gas, were/are a feel good gimmee to us middle class yokels as a sop to offset the huge tax cuts for the rich that also went thru (and the planned elimination of the estate tax - also for the rich).

Answer 7

Without the tax cuts you'd be paying both. The tax cuts have nothing to do with the price of oil or the price of tea in China.

Answer 8

Freedom isn't free.

Answer 9

Way to go stiff_greygoose, I agree.....

Answer 10

I wonder