First increase government spending on public works and infrastructure, education, health-care, FBI, border security, and law enforcement.
The private sector is holding several trillion dollars and is not spending. Therefore there is very poor job creation coming from the private sector.
Therefore adding governments jobs will inject funds into the economy and jump start it.
Government will have to take measures to cut the deficit by increasing taxes on profitable corporations and the wealthy.
They have to cut tax subsidies to wealthy corporations like those oil companies, and GE.
For example GE paid no taxes for 2 years in a row. Just in 2010 they made $14 billion (pre-tax). And they pocketed $3 billion in tax credits.
The largest and the most profitable oil company, Exxon Mobil, paid no taxes in 2009. But they actually received $156 million in tax rebate.
The oil companies get about $6.2 billion is tax-subsidies from our government. There is more such situations
This means a hardworking family with husband and wife working two jobs, juggling with children in daycare and earns about $45,000/yr pay more taxes than both GE and Exxon Mobil combined.
Now the Republican party is trying to cut essential services provided by the government and is pushing to tax breaks for the wealthy corporations and individuals.
I don't see any sense in what they are doing.
Please read my hub on Government Spending and Taxes during recession.
http://hubpages.com/hub/Government-spen … -recession
First we need to dump Obama, then we can hopefully adress the problems
by lady_love158 13 years ago
http://m.washingtontimes.com/news/2011/ … increases/Really, and people think this guy is a genius? Why does he insist on making ideological proposals that even his own party wont support? This president is beyond inept and incompetent, he's moronic!
by Susan Reid 12 years ago
Wow. 500,000 households making more than $100K per year and 7,000 millionaires paid no income tax in 2011.Do they consider themselves "victims" do we suppose?Are they lost causes who will never "take personal responsibility and care for their lives"Excerpt followed by...
by taburkett 12 years ago
The current tax code is detestible.Herman Cain recently introduced the 999 plan.Other politicians have introduced many plans previously.We have gotten nothing from the self-serving politicians.Do you believe we need a solid citizen centered plan?A plan has been formulated called the TRUE TAX that...
by Tim Mitchell 12 months ago
We all know it will be party-line loyalty for most voters. According to Pew Research, six percent of voters for the 2022 elections crossed party lines. For the mythical independent voter, it is a binary choice for the President. We are fortunate to be able to assess two Presidents based on criteria...
by kerryg 14 years ago
Funding for our country's children is being cut, but we allow a hedge fund manager to make enough money to pay the salaries of every public school teacher in New York City. Most of his earnings are taxed at a rate less than that of his secretary.We haven't been able to do anything about it because...
by ga anderson 9 years ago
Much is heard of a demand that corporations and the wealthy pay their "fair share" of taxes, but I have heard little of what that share should be.With only a single restriction; that the discussion is about legal tax actions, what should that "fair share" be?One could say that...
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