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Paul
Lv 5
Paul asked in Politics & GovernmentElections · 1 decade ago

If people had more cash in their pockets, would they spend more?

If you looked at your paycheck and saw a 1/3 of it taken out, do you think that's fare. The government was never intended to be this big, and now, Obama wants to increase not only it's size, but power. We all need a brake. I think Obama should have just kept his mouth shut, keep that trillion dollar spending bill, and just give the people a tax free holiday for a few months or even a year. That would give everyone a raise, and people would spend more.

Update:

Just look at 9ll, after the attack, people got scared. They stop going out and they spent less. Fear was one of the reasons why the economy growth was slow at that moment. Obama done a great job at pushing fear.

People are loosing jobs because business is slow and people got laid off.

For the people are saying, who’s going to pay for Government programs, such as health care, welfare, schools and maintenance for streets and highway. That is why you pay sales tax and property tax. It’s not like all tax are being cut. I’m just saying, everyone who is working, including the top 2% need a tax brake. Everyone!

The only people who have a problem with this idea, are leeches to our economy and people with wealth envy.

Update 2:

Good guy is worried about his welfare benefits. Like I said, your going to pay tax when you buy things such as diapers and vaseline or even eat at Mc donald.

The real question is, how are WE! going to pay for that pork bill?

11 Answers

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  • Sugar
    Lv 7
    1 decade ago
    Favorite Answer

    people will do what they please regardless.

  • Proto
    Lv 7
    1 decade ago

    Tax cuts don't solve everything. If we didn't collect any taxes at all, how would roads get fixed, water treatment plants built and maintained, police, paramedics and schools funded, fires put out?

    Bernie Madoff got away with stealing billions because there wasn't enough oversight. The current peanut butter contamination disaster occurred because of lack of oversight- company management was more than willing to leave problems unfixed and endanger public health because they more interested in their own bottom line.

    Right now people have been scared into saving mode- give someone a tax break and they're likely to keep it. Obama's approach of having the government spend money to get the economy moving again is the right one.

    Building and infrastructure projects mean jobs, when workers have money they buy items like clothing, equipment, vehicles, etc- which means producers of those items make money and pay THEIR bills and purchase items THEY need, and so on...

    When there are no jobs, tax cuts don't help- giving a business a tax break isn't going to cause it to hire new employees. Only increased demand for it's products does that.

  • CAT^
    Lv 6
    1 decade ago

    If Obama hadn't signed his Pork Bill, we'd all feel a lot more secure. I agree with you about the tax breaks. That's what McCain wanted to do. Obama ran on the platform that he'd cut taxes for 97% of the people, but this new bill should keep us broke for two generations.

  • 1 decade ago

    sorry, paul. It's "fair", not "fare"...and it's "break", not "brake", and the rest of your idea needs work, too. For instance, if you gave everyone a "tax free holiday for a few months or a year", how would you propose to pay all those soldiers and for the weapons they use? And social security? Medicare? Wow, not such a good idea, right? You are young, immature, even, when you say obama should have "just kept his mouth shut". Sorry, but he is not the one who should have done that. All that said, if people had more money, yes, they would spend more--or that is the conventional wisdom. In reality, with all the uncertainty, people are being cautious with their money and it will take awhile for their confidence to return--and it will, eventually. When, exactly, remains to be seen.

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  • 1 decade ago

    Yes. Now Obama wants health insurance benefits taxed as well. That will take a serious bite out of take home pay.

  • 1 decade ago

    The founding fathers lived in a society where everybody but an elite few raised their own food, wove their own fabric, and built their own houses. If they wanted to travel, they had to own horses or walk. They paid people to row them across rivers.

    If you give more money to people who don't have it, they will spend it. If you give money to people who have enough money already, they save it. If you give a lot of money to people who are fabulously wealthy, they sit around and scheme of ways to use it to start ponzi schemes and steal everybody else's money.

    I would like to see George Bush milking a cow so he could have cheese to eat. ∠°)

  • 1 decade ago

    Work harder! Millions of Obama Voters are depending on Us. (The 53 million who did not vote for him!) Taxing our health care benifits as income ... sweet.

  • 1 decade ago

    It worked for President Reagan when America faced a similar financial crisis.His plan was called Reaganomics.Obama is doing the exact opposite of what worked for the Reagan Administration,This Country is in deep,deep trouble.And This is the Obama Change that is brought upon us.

  • Sarah*
    Lv 7
    1 decade ago

    To answer your question, yes, I would buy more if I had extra money.

    Other people? Maybe not. If someone is frugal, then they aren't going to spend money. Or a lot of it anyway.

  • 1 decade ago

    Some may spend it,Your actually smart to hoard it away.

    That's exactly what I am doing.

  • You should be saving not spending, Spending only weakens your personal position,

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