For the months of Jan and Feb as a way to stimulate the economy…everyone pays no FICA or Federal Income Tax through payroll deduction or otherwise for those two months….good idea or not?
Not Ron Paul…some freshman
Great idea but it wont be allowed to happen….the powers-that-be cant allow the American people to see what their checks would look like without FICA or withholding taxes….if the people got a whole check there would be a tax revolt overnight….
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Great idea but it wont be allowed to happen….the powers-that-be cant allow the American people to see what their checks would look like without FICA or withholding taxes….if the people got a whole check there would be a tax revolt overnight….
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The National Retail Sales Tax would help our country recover very quickly. The problem is that it takes the power away from Government officials. Would be nice though.
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pipe dream
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I hope he likes Ron Paul lol! Its a good idea. Who wants to pay tax?
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Sure would help people catch up. Tough to go back to having those amounts taken out after 60 days though. We already know by looking at our checks how much extra money that would put in our pockets.
Sure is worth a try…who would suffer? The social security fund belongs to us, but the medicaid/medicare helps us later but helps others now, and then income tax or state taxes. It would hurt the states who are already suffering. I guess they’d have to see how much money the government would lose by allowing that to happen. Then compare that loss with how much it might spike the economy.
I think it should be done. Wouldn’t it be nice for it to happen this month..retailers would be thrilled.
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And how exactly would that impact the deficit?
Have Republicans ever come across a situation that they haven’t decided to resolve with a tax cut?
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The issue here is not about the deficit. As it stands right now the government is planning on issuing another 350 billion (the second half of the original $700 billion) in bailout dollars. This whole bank bailout situation is a huge shift of wealth to the richest portion of the country, exactly what Obama was trying not to do. But, by giving the banks more money to lend while they are restricting their credit lending only the wealthier people have the ability to access that money. So my point is that it is not an issue of deepening the deficit, but the fact that most taxpayer are getting the shaft.
By giving people a tax break you are effectively giving people (everyone) anywhere from 15-35% of their money back to do with as they please, which includes investing in banks and auto companies. Also, I heard somewhere that the "tax holiday" would cost approx. $311 billion, I don’t know if that’s accurate but that’s what I heard.
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