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Are Tax Cuts to Business a Jobs Program?

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Wednesday, 08 September 2010 04:34

NPR told its listeners that they are this morning in its top of the hour news segment. It described President Obama's proposal to allow businesses to have 100 percent expensing of new investment as a "jobs program." In fact, the vast majority of the investment that will qualify for this credit would have taken place in any case. 

I am petitioning NPR to have my plan for tax cuts to Dean Baker labeled as a jobs program.

Comments (6)Add Comment
...
written by zinc, September 08, 2010 6:16
If tax cuts for bidness and rich people were stimulative to the domestic economy, we would be the midst of an economic boom. Over the last 30 years, never has so much been given to so few at the expense of so many with such a small return.

NPR is uniformally wrong in their so called economic reporting, what some old timers might call editorials. Yesterday I was told by the NARealtors on NPR that the financial crisis, and today's economy, was caused by dishonest borrowers that took advantage of naive mortgage underwriters.

Where oh where has demand and income (jobs) gone ? I can't think of one cause or reason. Slate is doing an interesting series of articles on the effects of polarization of wealth and income in the US. Interesting because it agrees (so far) with my views, perhaps, unlike the deluge of swill published by FOX nation.

Eventually, even the economists will capitulate and admit their neo-prescriptions are toxic.
...
written by izzatzo, September 08, 2010 6:43
The price discount sale begins tomorrow. Those who would have paid full price anyway will be identified as free rider demand side crooks by our specially trained greeter economists and sent a bill for the difference in consumer and producer surplus.

The only exception is houses, for which the price is already increased to offset the tax discount, in which case no refund is available for those who thought they got a discount.
the most common lie in media
written by scott, September 08, 2010 4:14
Isn't this shibboleth in fact the most common argument foisted upon us? In fact, I've been asking you to admit more directly that the opposite is true, namely, that raising taxes on the elites would likely increase hiring. That it is low taxes that allows money to drain out of firms to corporate execs with little penalty. Whereas higher taxes--a return to the Ike/Kennedy tax rates would encourage deferral of income and building of wealth through capital investment and hiring both of which are business expenses which would lower exposure to the pernicious tax rates I'd like to see returned.

I'm left screaming at the TV as Morning Joe's, Fox's entire cast declare that cutting taxes on the rich will spur hiring. When the opposite is true. Why do you pick only on NPR, WaPo and the Wall Street Journal?
Okay that was a spit out the coffee moment...
written by Jim Nichols, September 09, 2010 2:21
"I am petitioning NPR to have my plan for tax cuts to Dean Baker labeled as a jobs program."

Maybe its too early in the morning but that was laugh outloud funny...
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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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