As I said in another thread, I wish Obama had not used that terminology. It is a big red flag to those who are still "hunkered down" in their compounds stockpiled with guns, wearing tinfoil hats, saying the Commies are coming! News flash.... they aren't coming!

I'm sure I will be once again accused of being psychic, but I think what he MEANT was, "spreading the opportunity around."

The Bush tax CUTS gave even MORE "opportunity" for amassing wealth to the super rich, while ignoring the strapped budgets of the middle class. Obama simply wants to roll back those unecessary and ill-conceived cuts, so that MORE "relief" from the tax burden can be given to those who need it the most.... to stimulate buying power.

Right now, our system gives HUGE tax relief and credits to corporations "supposedly" to stimulate investment and jobs from them. But, no one calls THAT Socialism. Obama just wants to "spread" that type of incentive across the consumer base for the same purpose.

I agree with Trux. The trickle down philosophy hasn't worked. The best way to stimulate the economy [which is what this is all about] is to promote consumer spending. Even BUSH realized that when he pushed for an economic stimulation bill this year. But, a onetime piddly check won't do it. Permanent tax reductions on the middle class will.

 

Trickle down economics was supposed to be that if I worked for you and the gubmint gave you a tax break sooner or later some benefits would end up coming my way. However Reagan didn't figure one thing into the equation....the greed of the wealthy in this country. If greed is at the top....us working stiffs remain the same.

As far as the rebates go..like the joke going around last time on how it would stimulate our economy...

If you spend it at wally world the chinese economy benefits

If you buy a new car the Japanese economy benefits

If you buy food, mexico and Honduras benefits

So whose economy really is gonna benefit with money borrowed from China...ain't ours

The items you mentioned seriously on the whole that wal mart sells is a drop in the bucket. I bet it's less than 0.02% of what they sell but I do get your point.

Obvious is an understatement :rofl::rofl::rofl:

 

golfhobo, I think that in the long run the economy is a moving target. By that I mean that sometimes it's going to be necessary to stimulate the supply side, and at other times it's going to be necessary to stimulate the demand side.

As I watch these processes it becomes obvious that it's a delicate balance, 1.5 - 2.0% too much or too little on either the supply side or the demand side can have serious consequences.

As it is right now with store shelves full of products that aren't moving, car lots full of cars not moving, thousands of empty houses not moving, etc., etc. I think, regardless of politics, everyone in this country can agree that the demand side needs attention.

As a side note, I think it's becoming obvious recently that we're all in the same boat and I think everyone can see it. I can see the $400k - $500k Wall Street people in danger of losing their jobs. I can see that they're in danger of not being able to find another job, (at any wage) i can see they're in danger of not being able to sell their house, I can see they're in danger of being on food stamps at this time next year.

They're in the same situation as the $35k a year guy working at a local factory that is seeing orders decline and planning layoffs.

So I think a possible benefit we're all going to see from this recent financial mess is that despite the "us and them" crapola that the Reps and Dems cram down our throats, we're all going to realize that we're all in this together, and until we get the economy running well again, we're all screwed.