The President says that tax cuts are not going to help our economy. Wow. Apparently I could have gotten into Harvard and earned a law degree because today, I am smarter than President Obama.
Let's say you earned $100,000 in 2008. On 15 April of this year you better be ready to pony up at least what... $25,000? Now, to illustrate the point, let's say that Harry Reid called you tomorrow and said, "Hey dude, just keep the $25K." What would you do? Shove it under the mattress? I bet most folks would spend all or most of it. Heck, even Dave Ramsey would spend it on a "growth stock mutual fund."
Want to know what the Odens are putting off as we wait for revenue to increase?
- $6,500 in new fencing for our cool Murphy pad
- $3,500 in Granite-type counter tops for our cool pad
- $11,000 in a new used car for J.T. to peal around the City in style
- $4,500 on a nice domestic vacation
Nope... tax breaks wouldn't have any positive effect on the economy, Mr. President!! Respectfully, sir, that's a worse misunderestimation than anything Geo. Bush EVER did.
This post was inspired by this article:
Obama warns of need for stimulus bill right away
P.S. Better Ideas:
Dave (pdf file)
FACT: Folks are still buying and selling everyday.
FACT: Lenders I work with have plenty of money left to lend.
FACT: We are in fact still in a buyers market--prices are steady to flat, inventory is respectable, but foreclosures are up.
For a foreclosure list that is updated several times an hour, go to the Powerpage on my website at www.jtoden.net