Obama Eyes $310 Billion Tax Cut

Search me. We do face aging among the massive Boomer population.

I never really liked Obama's tax cut plan. I always found the Social Security argument for the Federal income tax rebate specious at best, given that the Social Security "tax" was, to the best of my knowledge, never designed to be a tax, so much as a contribution into the government's (ill concieved) mandatory retirement program. The mention of more corporate welfare is disconcerting as well. But hey, why not give money from people who know what ROI means to people that think that an ARM is a good thing? That's the way to ensure a sustainable economy, right???

I think this all started with the energy price debacle, speculators pushed up the prices just way to much, greed undone an entire planet's economy. Now we know how huge this kind of speculation can affect jobs, security, nations, economies, etc. So, cheaper energy, brings back the jobs, and provides people a way to move goods are services, as well as themselves creating markets with supply and demand. The problem with cheaper energy is it won't be cheap for long as we are begining to drop the alternative sources and stay with oil, which will be our undoing. 

We can also think speculators in the mortgage industry, the greed there is only overcome by those oil speculators. The crater in the housing markets has led to disasters in the stock markets, hedgefunds, and ponzi schemes world wide. They will recover in time, but still the loan and disclosure process must be reviewed and changed. People who deserve loans should get them, and there should't be a hundred different 'products' for people to by pass crappy credit ratings and affordability.

William Gale, a tax-policy analyst at the Brookings Institution think tank in Washington, said the scale of the whole package is larger than expected. He called the business offerings a true surprise, since most attention has been focused on the spending side of the equation, especially the hundreds of billions of dollars being discussed for infrastructure and aid to state and local governments.

In my opinion this part of the proposal will go a long way toward allowing small and medium business to stay afloat in this troublesome downturn. Right this minute a shortfall in revenues for municipal, city, state and county revenues are mounting up and this measure could help stop massive public servant layoffs. Most businesses in central Georgia, where I live, are down between 50 and 60 percent in sales and profit in Oct, Nov, and Dec.