What will his plan be? More failed government spending, a la the failed stimulus bill, which mostly went to plug state and local government deficits instead of creating jobs? The Federal Reserve can't do much more. Well, Governor Kasich has some genuine advice for the president. It makes sense, and could probably get bipartisan support in Congress. Watch the video from his recent appearance on Fox.
One idea I had that they want to think about - there is expected to be about a trillion dollars that companies have in profits that are sitting outside of America. And a lot of these companies would like to bring this money home but the tax rates are so high that they instead are investing in places other than America. I think the notion of letting them bring that money back here at either a low tax rate or maybe a one-time pass on that would be a stimulus plan that would make some sense. It doesn’t involve public money, it involves the money that the companies have made, the profits they could bring back and re-invest and maybe improve their workforce; to buy plants and equipment and things like that. And give them a greater sense of confidence so they are willing to jump in.Will President Downgrade embrace ideas such as this? Or will he engage in more childish, political games like he did when he tried to schedule his speech at the exact time as the GOP primary debate?
I'm betting that we will see more of the same from the president who caused a downgrade in America's credit rating, instead of taking some advice from a governor who upgraded the credit rating outlook of his state.
We shall see.
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It was the repukes that caused the down grade -- "No I won't do it unless I get EVERYTHING I WANT! Country be dog-goned, we will make this President look bad if it is the death of all that we hold sacred and dear..."
ReplyDelete"...Grammy the democrats are trying to make us do the right thing again!"
The downgrade is about the DEBT. Nothing else. Record deficits ever since the Dems took over Congress and especially since Failbama was elected.
ReplyDeleteWanting to not spend more than we bring in is not about making Obama look bad. Its about common sense.
$1.6 TRILLION deficits. They were right to downgrade us.
This picture shows why we were downgraded. Only a complete fool would argue it isnt about the debt.
ReplyDeletehttp://tiny.cc/6xkkl
I would like to see any reduction permanent. I think it's been proven that temporary or one time deals are not as effective Obama has tried temporary tax policies, and it's like putting a bandage on a gaping wound. Businesses plan for the long term and want to know costs going forward. Permanently reducing rats and keeping them lo is the way to go.
ReplyDeleteThis is an excellent idea, and I see this in terms of personal experience. We recently came into a large sum of money through an inheritance. We would love to draw that money out of its "tax shelters" and actually spend it on home improvements, but we are stymied by the taxes on this income. It is frustrating to have the money on paper, but because of the "tax hit" on this income, we will not spend it. This is what is happening, on a larger scale, with businesses.
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