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108 Comments
- boostviews, on 03/11/2009, -6/+57You would think the government here would get a clue....
- govsucks, on 03/11/2009, -7/+54WHAT!? You mean people will spend money if it isn't first stolen from them!? WHo would have thought such a thing! /s
THe government takes 15K a year from my family. In two years I could fully pay for a brand new car and a pretty nice one at that. HUH, I wonder why THE TAXED aren't buying cars?
In 12 years I could completely pay off my entire mortgage with that money. Huh, I wonder why people can't make their mortgage payments?
The goal is control people, they want the entire population dependent on government and the political class. Your medical care, retirement, money and soon even your food. Then what voice will you have? You won't, you'll shut up and get back to work.
Collectivists cry like little bitches over government wiretaps then they work with the Obama and Bush administration to make a government and political class so powerful and controlling that no person or group will be able to challenge it.
When you find out someday that your phones, internet usage, bank accounts and even GPS location are being monitored by government, you can pat yourself on the back collectivist because you were an excellent lemming. - demicritter, on 03/11/2009, -7/+50Hurry, bury this before any of the Obama Zombies can see it. IT'S MASSIVE GOVERNMENT SPENDING THAT STIMULATES NOT TAX CUTS. Shhhhhhhhhhhhhhhhhhhh
- inactive, on 03/11/2009, -8/+43Apparently, Chinese Dictators didn't get the American dictator's message that "tired old policies, like tax cuts don't work".
- Chahrlie5, on 03/11/2009, -9/+40WOAH WOAH WOAH WOAH WOAH, Wait just a second here!
You're telling me tax cuts stimulate consumer spending and the economy?!?!?!
WHAT IS THIS MADNESS!@?!@#
OBAMA TELL ME THIS AIN'T SO!! - URnotheonly1, on 03/11/2009, -9/+35to bad we don'r have capitalist here in our government
- inactive, on 03/11/2009, -10/+33Maybe Opie will issue tax cuts after he enslaves everyone.
Hey, it could happen. He could take mercy on us serfs.
Keep a good thought and remember...
All hail Lord Obama! - inboxnews, on 03/11/2009, -2/+23They know tax cuts stimulate growth. What's going on here has nothing to do about stimulating growth. It has everything to do with controlling you and your wallet.
- Yeeeech, on 03/11/2009, -7/+27China February Auto Sales Rise 25% After Tax Cuts (Update1)
Share | Email | Print | A A A
By Tian Ying
March 10 (Bloomberg) -- China vehicle sales surged 25 percent in February, the first gain in four months, after the government cut taxes on some models, helping the country extend its lead as the world’s largest auto market this year.
Hey, yo, Obama girls, please tell your Daddy to read this! Hey, somebody in the Kitchen at the White Hoouse, please print this out and put it on the lunch table in front of President Obama. - inactive, on 03/11/2009, -8/+23How ironic. The Chinese government borrows from the Reagan's playbook, and the Obumma administration pushes Mao Zedong's wealth redistribution policies.
- Trick07, on 03/11/2009, -4/+18Figures, you know things are bad when a bunch of Communists show us how to revive our economy.
- robehren, on 03/11/2009, -2/+15Amen bother, its scary that China gets it but the country that is know for capitalism doesn't. What the hell is wrong? Did I fall asleep and end up in the friggin Twilight Zone?
- pookydirt, on 03/11/2009, -6/+19Tax cuts... whouda thunk it?
- pookydirt, on 03/11/2009, -2/+14Hillary was in charge of the memo translation.
It read:
"try old politics, tax cuts work." - inactive, on 03/11/2009, -3/+14HAHA right on Asylum!!
I cannot believe that some people in this country still think tax cuts dont work.
That being said, I would be wonderfully happy to take their share of tax cuts. - inactive, on 03/12/2009, -2/+12Car sales are up too in India. Not because of tax cuts but because of better lending. Loan rates are an all time low out here.
- snoobies, on 03/12/2009, -6/+16funny how there is more capitalism in China than there is in America.
- zeth006, on 03/12/2009, -8/+18For all you tax-cut happy conservatives and Rushbo lovers: China isn't America. Unlike Americans, Chinese people actually know how to save the money that they earn. They're not like many of us Americans who on average make stupid investments or buy ***** they don't need. A tax cut in China makes sense since the average savings rate in China is about 18-20%. Contrast that for Americans and their ***** savings. Barely a quarter of non-retired Americans save 10% of what they earn. Compound that with the average American savings rate now at -1.5% and yes, you have a situation where encouraging Americans to spend more on ***** they can’t afford does NOT call for tax cuts.
Also read the article more carefully: The taxes were most likely SALES TAXES on certain cars. I'd actually support it if Obama were to triple taxes on hummers and SUVs and other unnecessarily large cars and lower taxes on sedans and other fuel-efficient cars.
Making a blanket statement about raising/lowering taxes doesn't help you if you want to stay informed. Try reading up on news articles in their entirety more often instead of parroting lines from O'Reilly and Rushbo. Seriously, I don't watch TV nearly as much as I used to for a reason. - CoD4, on 03/12/2009, -5/+12So people can't pay their mortgages because the tax rates are so high? It has nothing to do with the fact that they can't afford it in the first place?
I don't like the govt either, but being bat ***** crazy isn't gonna get you anywhere - inactive, on 03/12/2009, -2/+9@zeth. If you had even a minute understanding of economics, you'd understand that plenty of people have money to buy cars, but poor consumer confidence has led to money being pulled out of the system and stuffed into persona safes, instead of being invested, borrowed and spent. You'd be surprised what a tax cut, rate drop, or combination can do to change that (especially in the car business). I speak from experience, as I was selling cars post- 9/11.
Secondly, the Bush tax cuts were applied to every class, even creating a 10 percent tax bracket for low-income workers that had been paying 15%, and increasing the child tax credit. Once the tax cuts were in place, advance checks of $600 were mailed directly to tax payers making under $75,000/year which had a very quick impact on the economy, leading to a much stronger than anticipated retail Christmas season to close 2001. - iloveobama, on 03/12/2009, -0/+6Overcharge!
- marklestrange, on 03/12/2009, -2/+8In the US you hardly pay any tax on cars (or fuel) compared to the rest of the industrial world so tax cuts will have a proportionately lower effect - so very little indeed.
Slightly off topic - why did you guys give all that money to the big car companies - learn from Europe's* mistakes.
The same money given to thousands of start-ups and innovation companies would have lead to phenomenal growth rather than money down a black hole. We Europeans* did that in the 80's 'to protect jobs' - and it doesn't work.
[* Europe - big chunk of land East of New York] - atomheartmother, on 03/11/2009, -8/+13Regressives explaining this away in 3,2,1.........
- Cerialthriller, on 03/12/2009, -0/+5the problem in the US i think is actually getting a loan for a car. I would have gotten a low APR in the past, but now since ive never made car payments because i usually buy junkers, none of the banks will give me below an 17% APR which im just not going for. GM is the worst, they were the only ones that turned me down outright for a loan, you know right after taxpayers just gave them billions of dollars.
- sndream, on 03/12/2009, -0/+5Bush's tax cut give little benefits to the middle class and now BHO gonna suck the middle class dry.
Middle class will be in the endangered list pretty soon. - Barackalypse, on 03/12/2009, -4/+9Contrast to here where we gave billions to GM and Chrysler even as they were furloughing workers in the face of declining sales. The only thing that increased for our automakers was losses.
- iloveobama, on 03/12/2009, -8/+12B...b...but I thought Reaganomics didnt work?
Obama's solution? Raise taxes on businesses! That should get people buying again. - inactive, on 03/12/2009, -3/+7Just caught this from a credible news source, forget which one. Think it was HuffPo
Chinese President Hu Jintao makes call to President Obama to discuss concerns over world economy.
"Herro Bangcok Osaka, it's me Hu. I want to dishcush your powicy of money" was the opening to a lengthy conversation over America's economic powicy.
"Well, hu. I am commited to spending as much money as possible....." Obama would say nothing else.
"I know assho! I am one stuck with ***** American bonds that my wife use to cwean windows because they weave wess a stweak, than paper towow." adding, "I have wittle time so I will make my point, queer.."
"Confushush wonce say. He who do not give to his democwacy while Communist does end up losing his wand to Communist when he can't pay democwacy bond dividend." - FrozenPie, on 03/12/2009, -3/+7Time to learn Mandarin
Jim Rogers
http://www.youtube.com/watch?v=doltUIHFqjw
Peter Schiff
http://www.youtube.com/watch?v=zdVP_sgCETo - inactive, on 03/12/2009, -1/+5I like the part where you say "i like the part" in so many of your posts.
- zeth006, on 03/12/2009, -1/+5I don't see the irony at all. China isn't America and those tax cuts were just sales tax cuts.
- baddigga, on 03/12/2009, -2/+6"China has halved retail taxes" - it means people are getting the tax cuts, not the businesses.
- inactive, on 03/12/2009, -4/+7You are wrong.
- inactive, on 03/12/2009, -0/+3China has massive domestic market potential, it has enough internal momentum to sustain economic growth of the entire country, even if the rest of the world were to vanish from existence tomorrow.
- LordRedSnake, on 03/12/2009, -0/+3Let's see, what's the problem with this recession? People are unsure of their future so are saving money, others are paying down debt, still others need to make purchases but low consumer confidence is holding them back. Just a little extra disposable income will go a long way. We talk about democracy and are averse to bailing out the rich, so why are we ok with having the government give our tax dollars to special interest groups or specific trades outlined by the stimulus? Why not allow the taxpayer to vote with their dollars on what's needed most?
If people save their money, it just recapitalizes banks, which is what the bailouts did except this is a person's actual savings not just some money funneled through the government. If they pay down debt, they put their finances in a better position for future recovery. If their finances are already sound, they will spend it and help increase consumption.
What could possibly be a better time for tax cuts? Instead we're embarking on huge spending programs which inevitably suffer from massive bureaucratic mismanagement and waste, so that a great deal of that money never even makes it to its end goal. Or we bail out banks and automakers, where taxpayers will never see any return on their supposed investment. - LordRedSnake, on 03/12/2009, -0/+3Uh, what's so hard to understand about things being more affordable when you're allowed to keep more of your wages? Yeah some people couldn't afford their mortgages even if their income doubled. But there are plenty of people who could afford a home if their taxes were marginally lower.
- zeth006, on 03/12/2009, -0/+3Well your guarantee's down the hole and you're full of ***** again.
- LordRedSnake, on 03/12/2009, -0/+3Do you have credit history? Nobody is going to give you a loan now if you don't have an established history of paying your credit card bills or paying off loans. That's what got us into this mess in the first place, people without credit history or with bad credit history were getting loans they never should have gotten.
I'm not saying you're not capable of paying for a loan, but I had to get a credit card and pay off a year's worth of student loans before I could get a reasonable rate on a car loan too, and then it was only through my credit union. That's how the system works which can suck for someone starting off, but it's meant to avoid the alternative. - joshwehatetech, on 03/12/2009, -1/+4It was to save Union jobs and life styles. If the big 3 actually go bankrupt they could go through Chapter 11 and all of those contracts would be restructured or destroyed. The union is giving back a bit so they don't lose it all.
- foohookups311, on 03/12/2009, -1/+4Opie,
Even your commie brethren know to cut taxes in order to stimulate the economy.
What are we living in the twilight zone right now??? - jnav121, on 03/12/2009, -0/+3tax cut minus, sales tax , registrations , ad valorem , and UAW goon union chief cuts = half price car
- zeth006, on 03/12/2009, -0/+3Where did I say we should prevent spending? Read my whole comment. It doesn't make sense for us to be lowering sales taxes on cars if they're just going to encourage people to buy them out of new car fever. In China it makes perfect sense since even with all those billions being POURED into public transportation people STILL need cars. In case you haven't noticed, China's more of a recently industrialized country. When you couple the high demand for cars, super high savings rates, AND consumer spending power with an ENORMOUSLY high potential, it makes perfect sense.
America? Sorry. We've tapped into consumer spending as much as we can. Slashing sales taxes on cars that most people don't even need right now isn't going to fix ANYTHING. Most people who need to buy cars are in ONE of the following:
1. Recently graduated, need a car (I'm in there)
2. Need a replacement since current car's on its last legs
There are more reasons but seriously...if you can't afford a car right now, DON'T BUY IT. The best APR rates go for about 6% and that's if you're really really lucky. It's bad enough my tax dollars are going to people who have bad housing debt but if Americans have a negative savings rate, that's PROBABLY a sign we need to start SAVING.
Oh and I am a proponent of tax cuts. BUT only when they're needed. Giving tax cuts to the rich won't cut it, sorry. Seriously people...if your car's running fine with the exception of a minor repair or two, there's no need to buy.
I recently got my mid-sized sedan for $11,500 out the door. Haggled for 20 minutes with the dealer and got a steal. Only reason I need it is for school and possibly work later on down the road. - secrity, on 03/13/2009, -0/+2I make a very decent wage, have no debt, have savings equal to a couple of years of my current income, and my 401k accounts are mostly invested in guaranteed interest.
Fear of the future has STOPPED me from spending money except for essential items, and I am trying to find even more ways to avoid spending money.
I believe that my job is reasonably secure, but I have no idea whether I will be layed off. In the past I wasn't afraid of being layed off because I had confidence that my employer wasn't going to bite the dust and I knew that if it were necessary, I could find another similar job -- probably at a higher salary.
I suspect that if I were to be layed off in today's economy that I would have to live off of my saving for quite some time. - marklestrange, on 03/12/2009, -1/+3I get the reasons - they are the same ones we used 25 years ago.
The problem was that the companies still failed - yes they did it more slowly than would have otherwise occurred, and they failed in stages - laying off progressively as they went deeper into decline.
The decline was cushioned but not averted.
I still think it would be brave, but more likely to succeed to 'let them go' while pouring the billions into new tech and therefore new job creation. The US car industry is massively out of touch - from our perspective over this side of the pond. - LordRedSnake, on 03/12/2009, -0/+2Come on man, we're getting what, $13 a week? Sure every little bit counts, but when I see over 1/4 of my paycheck disappear to federal taxes, social security, state taxes, and local taxes, a $13 is a joke.
- LordRedSnake, on 03/12/2009, -0/+2Well there's a right and a wrong way to spend. China is still a developing country and desperately needs infrastructure, so this is an investment in the future for them as commerce can take place more smoothly with a better developed network of rail and roads, not to mention power and communications infrastructure. Businesses can operate more efficiently, cut costs, open up markets, and employ more people.
The impact of many of our stimulus projects is debatable however, considering how much pork and kickbacks to special interests were thrown into the bill. Even the well meaning projects are going to be somewhat wasteful.
Take for example all of the money that's meant to create "green collar jobs." That's all well and good, but consider that it's a very niche industry now which requires specialized knowledge. That industry doesn't just grow overnight. People need to be trained for the jobs and gain experience to be effective at them. Sure some new jobs will result, but the net effect is just to raise the prices that firms in these industries charge. I should know, I'm in the business. We're probably going to hire some people, but these are skilled positions that are not easily filled. We're just going to get rich on this mostly. That's fine for me, but not the intent of the stimulus. - Nairium, on 03/12/2009, -0/+2Finally, someone who's actually read the article !
- ryrocker, on 03/13/2009, -0/+1ok all that ***** you mentioned is paid for WITH STATE AND LOCAL TAXESSS!!!!
god damn it all you of!!!
http://www.treas.gov/education/fact-sheets/taxes/s ...
read that and learn something instead of bitching about the people who are bitching because they know how taxes get used!
fk man! - ryrocker, on 03/13/2009, -0/+1actually
the tax cuts that conservatives call for benifit everyone
the example that comes to my head the quickest is the tax cut proposed by mccain (im not supporting him, its just the one that came to my mind the quickest)
udner mccains tax cut EVERYONE gets a tax cuts
under obamas tax cut most people get a tax cut, the wealthy get a tax raise.
a republican type tax cut proportionally benifits the wealthest the most because they have more to tax
a 5% tax cut on 250,000 dollars is saves more money than a 5% tax cut on 40,000 dollars
see the difference?
and on top of that, we have a progressive tax system... so the wealthiest sector of society ALREADY pays higher taxes than the guy who makes 40,000. since the top strata of society owns most of this nations wealth, it is logical to assume that they also own most of this nations taxes - MelvinSchlubman, on 03/14/2009, -0/+1ryrocker,
Do you have any idea which side you're arguing? -
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