Bob Corker Speaks Out Against the $150 Billion Stimulus Package

[Guest Len]

I am not sure how increasing prices 30% will make them go down.

Indeed.

I thought it was interesting that Bob Corker ® and Jim Cooper (D) both oppose stimulus package -the only two members of the TN delegation that did so. Corker is a moderate in the Bredesen mold (or at least he was when he was mayor of Chattanooga) and Cooper is a member of the Blue Dogs (fiscally conservative Democrats), so maybe its not that surprising. Both of them also have a bit of a rebellious streak when it comes to party partisanship. A grudging level of respect is hereby given to both.

The stimulus package is a combination of "feel-good" legislation, short-term economic shot in the arm, and political popularity contest on the part of both parties. Will some of our rebate money get spent? Sure. Will some get saved? (Hopefully, our savings rates are woeful.) Will it solve the long-term, economic issues facing the nation? Nah. Will the next congress and administraton even begin to tackle those issues? I would not hold my breath.

Edited February 1, 2008 by Len
typo

[molonlabetn]

Heh... mine will most likely wave as it passes my check to the IRS for what I owe for 2007. It's ridiculous, they are simply juggling money.

[The Rabbi]

This is the issue with "rebates." Most of it ends up getting saved or used to reduce debt, which is the same thing. Thus the stimulus value is nil. We have been down this route before and it doesn't work as economics. It does work as politics, namely bribing us with our own money.

[Mike.357]

The whole thing is idiotic. This rebate I mean. I still cannot figure out how to give money back to people when there is not enough coming in to cover what is going out.

Do I want $1200 sure, who doesn't but I doubt much of that much of mine will get spent. I am like MLTN in this regard. I will be sending them money and they will send some back.

I would very much prefer to see a flat tax rate that everyone pays, no sliding scale.

[Guest bang-flash]

i'm not sure the personal income tax is legal. this video [ame]http://youtube.com/watch?v=3ueEfRXZCVA[/ame] may be a little far fetched, but i have read other sources and still can not find conclusive evidence that the 16th amendment was ratified. that and the fact that many former irs agents have confessed that there is no real law regarding the tax code.

i'll continue to pay to avoid harassment by the govt, but i do not want to.

[Guest Len]

still can not find conclusive evidence that the 16th amendment was ratified.

http://en.wikipedia.org/wiki/Sixteenth_Amendment_to_the_United_States_Constitution

42 states ratified 16A, 6 more than necessary. (There were only 48 states in 1913 when ratification was completed.)

[towerclimber37]

yah, but it would be nice if we could get RID of the INFERnal revenue service.

for one thing, that would severely curtail the spending of the Government..that would be nice.

I'm for the flat tax. personally...I'm like Marswolf when it comes to the government..the only thing they need to do it to keep us secure with a standing army and assist when it comes to disasters.

[strickj]

It would allow the government to collect taxes from people that don't work in industries where taxes are levied against income. illegals/drug dealers/prostitutes etc,but how much do these people spend?they live in run down houses,several people in one home,they dont have over sized t.v.'s or nice cars,a fridge full of food,etc..the money in this group stays in this group!plus you have to think about us regulars joes paying what we would call high taxes because we spend most if not all of our income.while the rich flockers would become richer because alot of there dollars are not spent,but invested,which inreturn makes them more money,that would be untaxed.

plus how would they regulate online sales?you are allready supposed to report all untaxed online sales you make,but who does that?!!

[Mike.357]

how would they regulate online sales?

Since this would be a national sales tax all online vendors would collect it, just like it is now if you buy from a vendor online in TN. They collect TN sales tax.

[strickj]

i have bought from vendors from TN that did not collect any tax,this has been some time ago,i guess its regulated a little stronger now then before.but you also have to think about all the online sells that are not from "vendors" and have no tax number