HOF44 Posted February 7, 2009 Share Posted February 7, 2009 Interesting article by a small business owner today. What do you think? Link Link to comment Share on other sites More sharing options...
PeterMP Posted February 7, 2009 Share Posted February 7, 2009 There is no good way to revive spending. Americans/America doesn't have more to spend at the current time. Link to comment Share on other sites More sharing options...
ACW Posted February 7, 2009 Share Posted February 7, 2009 I read that earlier. Hell, interesting idea, and lord knows if not cheaper than the stimulus package, at least this is just $ and no other thing gov't'll f up. Link to comment Share on other sites More sharing options...
HOF44 Posted February 7, 2009 Author Share Posted February 7, 2009 There is no good way to revive spending. Americans/America doesn't have more to spend at the current time. The reality is something is going to happen, and probably not this. Do you think tax cuts or a program like this makes more sense if one or the other is going to happen? Link to comment Share on other sites More sharing options...
PeterMP Posted February 7, 2009 Share Posted February 7, 2009 The reality is something is going to happen, and probably not this. Do you think tax cuts or a program like this makes more sense if one or the other is going to happen? I don't know, which is less likely to get me sick- eating a rotten steak or a rotten pork chop? Link to comment Share on other sites More sharing options...
HOF44 Posted February 7, 2009 Author Share Posted February 7, 2009 I don't know, which is less likely to get me sick- eating a rotten steak or a rotten pork chop? Not sure, if you had to eat one which would you choose. Link to comment Share on other sites More sharing options...
twa Posted February 7, 2009 Share Posted February 7, 2009 It would certainly inject money into the system relatively quick,but simply being a better(more efficient) way does not make it a good idea. Just like the house and car credits, it simply delays fixing the problems. Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted February 7, 2009 Share Posted February 7, 2009 How do we revive savings? Oh yeah, that's a bad word in modern economics. Link to comment Share on other sites More sharing options...
Thiebear Posted February 7, 2009 Share Posted February 7, 2009 I like the idea of just not collecting taxes for 6 months because there is nothing to do: just more money in your pocket over time.. It wont take 30% of the money to get it going.. Link to comment Share on other sites More sharing options...
twa Posted February 7, 2009 Share Posted February 7, 2009 Too dangerous Tbear People might get used to it and actually demand better for their money.. Link to comment Share on other sites More sharing options...
DanNew Posted February 10, 2009 Share Posted February 10, 2009 I thought my old roommate was kidding that there were posts here on my column in this weekend's Post! Go figure that some of the best questions are posed by Skins fans. which is less likely to get me sick- eating a rotten steak or a rotten pork chop? ... and another fellow fan of the government. One of the best features of the prepaid card is that the government doesn't decide which company or industry to bailout. It doesn't choose where the money should be spent. You do. It would certainly inject money into the system relatively quick,but simply being a better(more efficient) way does not make it a good idea.Just like the house and car credits, it simply delays fixing the problems. You're right that it's no cure-all. We still need job creation, infrastructure improvement, smarter financial regulation, and a better name for FedEx Field. But those all take time, and the Gift Card can help while they get underway. How do we revive savings? Oh yeah, that's a bad word in modern economics. Funny that you post that now. A higher savings rate can help with investment in the long run, but in these last few months, demand has dropped so sharply, even normally pro-savings economists are saying we should improve our habits more slowly. Augustine used to pray, “Lord, make me chaste—but not just yet.” I like the idea of just not collecting taxes for 6 months That's funny, but it's also not a bad idea. In 2001, the Senate proposed a "sales tax holiday" to help businesses. But the idea fell apart before getting approval from every state legislature. As a small-business owner, I'd love lower taxes, but I can imagine the headache of tracking all taxable sales, applying for reimbursement from the state, and waiting for the state to be repaid by Washington. A prepaid gift card is easier, and people are more likely to spend it. It's the difference between having a bowl of chips on your counter instead of having one stashed at the back of the top shelf. Link to comment Share on other sites More sharing options...
DjTj Posted February 10, 2009 Share Posted February 10, 2009 Taiwan actually already did this: http://www.cnn.com/2009/WORLD/asiapcf/01/18/taiwan.vouchers/ ...don't know what effect it has had, but it goes to show that this isn't such a crazy idea. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted February 10, 2009 Share Posted February 10, 2009 I thought my old roommate was kidding that there were posts here on my column in this weekend's Post! Go figure that some of the best questions are posed by Skins fans.... and another fellow fan of the government. One of the best features of the prepaid card is that the government doesn't decide which company or industry to bailout. It doesn't choose where the money should be spent. You do. You're right that it's no cure-all. We still need job creation, infrastructure improvement, smarter financial regulation, and a better name for FedEx Field. But those all take time, and the Gift Card can help while they get underway. Funny that you post that now. A higher savings rate can help with investment in the long run, but in these last few months, demand has dropped so sharply, even normally pro-savings economists are saying we should improve our habits more slowly. Augustine used to pray, “Lord, make me chaste—but not just yet.” That's funny, but it's also not a bad idea. In 2001, the Senate proposed a "sales tax holiday" to help businesses. But the idea fell apart before getting approval from every state legislature. As a small-business owner, I'd love lower taxes, but I can imagine the headache of tracking all taxable sales, applying for reimbursement from the state, and waiting for the state to be repaid by Washington. A prepaid gift card is easier, and people are more likely to spend it. It's the difference between having a bowl of chips on your counter instead of having one stashed at the back of the top shelf. welcome to extremeskins DanNew! As a lover of crazy ideas, I'd like toexpand upon Thiebears thoughts on a federal tax moratorium. (I actually posted this in another thread the other day) I think the best, yet the craziest idea is to literally suspecd ALL federal taxes that are the responsibility of American tax payers for one full year. Force the Feds and the gluttons into austerity for 12 months and make the government live off of fees and excises. Reason: Give every American a huge boost in take home pay for 12 months and shine a light on what is paid by showing Americans what they actually make before Federal taxes. I know, It's loony (but as many here will agree) many of my thoughts are seen as such. again, good piece, and welcome! Link to comment Share on other sites More sharing options...
DjTj Posted February 10, 2009 Share Posted February 10, 2009 Reason: Give every American a huge boost in take home pay for 12 months and shine a light on what is paid by showing Americans what they actually make before Federal taxes.So your main reason for a tax holiday is an anti-government political goal rather than actually trying to stimulate the economy?...I wonder what the effects of a huge tax holiday like that would really be though - would you suspend corporate taxes in addition to personal income tax? That would provide a big incentive for companies to lower everyone's salary ... although they might not want to do that if the holiday is just temporary. I suppose they might stop paying bonuses or overtime for that year. Maybe they would hire a lot more contractors at lower rates ... it would definitely be a huge economic disruption. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted February 10, 2009 Share Posted February 10, 2009 My only concern is, what about small business that do not have the means for collecting off debit/credit cards? A lot of small construction contractors, generally residential, simply can't afford the fees to utilizing credit/debit cards and therefore take everything in checks Link to comment Share on other sites More sharing options...
SnyderShrugged Posted February 10, 2009 Share Posted February 10, 2009 So your main reason for a tax holiday is an anti-government political goal rather than actually trying to stimulate the economy?...I wonder what the effects of a huge tax holiday like that would really be though - would you suspend corporate taxes in addition to personal income tax? That would provide a big incentive for companies to lower everyone's salary ... although they might not want to do that if the holiday is just temporary. I suppose they might stop paying bonuses or overtime for that year. Maybe they would hire a lot more contractors at lower rates ... it would definitely be a huge economic disruption. Actually, I have both goals in mind. And there is nothing "anti-government" in mind. Since when is anti-excess taxation seen as anti government anyway? I think that the corporate taxes would stay in place, only remove the taxes that each worker pays that are itemized in their pay stubs. And yes, I want a HUGE economic disruption, but a disruption for the Federal leviathan. A disruption to their standard operating procedures is just the medicine needed for their cure. Link to comment Share on other sites More sharing options...
Peeping Wizard Posted February 10, 2009 Share Posted February 10, 2009 Too dangerous TbearPeople might get used to it and actually demand better for their money.. There is no worse ROI than what you get for your tax dollars. Link to comment Share on other sites More sharing options...
nyskinsfan56 Posted February 10, 2009 Share Posted February 10, 2009 Interesting article by a small business owner today. What do you think?Link His idea makes absolutely no sense whatsoever. There is no difference between a gift card and cash. You give me a gift card for $2k that can be used for anything and all it does it replace the same $2k in cash that I would have used anyway. Link to comment Share on other sites More sharing options...
DjTj Posted February 10, 2009 Share Posted February 10, 2009 Actually, I have both goals in mind. And there is nothing "anti-government" in mind. Since when is anti-excess taxation seen as anti government anyway?I don't really know how else I would describe it ... you want less government, so that makes your policy anti-government, right?I think that the corporate taxes would stay in place, only remove the taxes that each worker pays that are itemized in their pay stubs.Now that would create a huge loophole ... every company would start trying to treat everything as income. Owners of small businesses would no longer take profits but would simply employ themselves (or their relatives) to get the money tax free.What would happen with benefits? With no favored tax treatment, employers could likely save money by just paying employees and telling them to buy insurance for themselves. ...the more I think about it, the more it sounds like a huge stimulus for tax lawyers. And yes, I want a HUGE economic disruption, but a disruption for the Federal leviathan. A disruption to their standard operating procedures is just the medicine needed for their cure.Unfortunately, it is difficult to disrupt the leviathan without also disrupting all the other creatures living in the same pond. It's kind of like how chemotherapy really messes up your body ... sometimes the cure can be worse than the disease. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted February 10, 2009 Share Posted February 10, 2009 I don't really know how else I would describe it ... you want less government, so that makes your policy anti-government, right?Now that would create a huge loophole ... every company would start trying to treat everything as income. Owners of small businesses would no longer take profits but would simply employ themselves (or their relatives) to get the money tax free. What would happen with benefits? With no favored tax treatment, employers could likely save money by just paying employees and telling them to buy insurance for themselves. ...the more I think about it, the more it sounds like a huge stimulus for tax lawyers. Unfortunately, it is difficult to disrupt the leviathan without also disrupting all the other creatures living in the same pond. It's kind of like how chemotherapy really messes up your body ... sometimes the cure can be worse than the disease. I heartilly disagree! A desire for small (and limited) Federal government is not anti-government as a whole. Only a government limited to it's proper role as was designed and documented in the Constitution. I think you may be grasping some on the impact of my plan. Whay would eliminating 12 months of Federal, personal taxes inspire companies to treat everything as income? I dont understand. Link to comment Share on other sites More sharing options...
ChocolateCitySkin Posted February 10, 2009 Share Posted February 10, 2009 I heartilly disagree! A desire for small (and limited) Federal government is not anti-government as a whole. Only a government limited to it's proper role as was designed and documented in the Constitution.I think you may be grasping some on the impact of my plan. Whay would eliminating 12 months of Federal, personal taxes inspire companies to treat everything as income? I dont understand. Cuz its not very much money. Won't affect the avg consumer much. Everyone is in saving mode. What needs to happen is the banks gotta start lending money. Instead of the lining their coffers to make up for all their toxic stupidity. Link to comment Share on other sites More sharing options...
SnyderShrugged Posted February 10, 2009 Share Posted February 10, 2009 Cuz its not very much money. Won't affect the avg consumer much. Everyone is in saving mode.What needs to happen is the banks gotta start lending money. Instead of the lining their coffers to make up for all their toxic stupidity. A nearly 30% increase in everyone's take home pay isnt that much $? Link to comment Share on other sites More sharing options...
Dictator Posted February 10, 2009 Share Posted February 10, 2009 His idea makes absolutely no sense whatsoever. There is no difference between a gift card and cash. You give me a gift card for $2k that can be used for anything and all it does it replace the same $2k in cash that I would have used anyway. Nope. cash can be put into a bank. Cash can be invested. Gift cards must be spent. Link to comment Share on other sites More sharing options...
Midnight Judges Posted February 10, 2009 Share Posted February 10, 2009 I like the author's ideas and they seem like a clever way of getting around people who wouldn't spend their stimulus checks. Although people paying down their debt is a good thing, I guess it's not the kind of spending that is good for the short term. As for this: When I'm struggling, a small reduction in costs isn't going to persuade me to create a new position. At a huge company, that might add up to another job, but for me the choice of whether to create a job rests on only one thing: customer demand. That's just common sense. And yet it is extremely controversial. Link to comment Share on other sites More sharing options...
ChocolateCitySkin Posted February 10, 2009 Share Posted February 10, 2009 A nearly 30% increase in everyone's take home pay isnt that much $? not if you can't get a loan. not if you can't find a job. great so someone unemployeed goes from making zero to a 30% increase in zero. Link to comment Share on other sites More sharing options...
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