Biden Takes the Delaware Way of “Transparency” to D. C.

You guessed it.  The meeting on Transparency is closed to the public.  I think they will be looking for those 2 million jobs from the failed porkulus package. Is it not interesting that the private sector did not start adding any jobs until the small tax credit for suspending the payroll tax for hiring unemployed people?   Tax cuts work.  How about more of them and making them long term?

11 thoughts on “Biden Takes the Delaware Way of “Transparency” to D. C.”

  1. David, I doubt if any employers hired staff as a result of the tax credit. There are too many other costs of unnecessary hiring that more than offset the credit. It is just an opportune byproduct of needed hiring. I feel that we should continue the tax cuts short term but the law of diminishing returns kicks in at some point. Continuing to reduce taxes will not continue to increase revenues ad infinitum. The reality is that taxes must go up but no politician seeking office is going to say that. The Social Security retirement age must be increased but no politician is going to say that either. I’m fine with the realities of both situations as long as the government is a wise steward of my money, and I doubt that will ever happen.

  2. That is why liberals ruin the economy. The evidence is staring you in the face. Did you also doubt that the home buyer’s credit accelerated home sales? It was way too short term but it proved that incentives matter. Tax cuts work. Say it slowly.

  3. “Did you also doubt that the home buyer’s credit accelerated home sales?”

    The homebuyer tax credit did very little, until it neared its expiration date. The threat of expiration was the trigger. And many free-marketeers would say that the credit was interference in the free market’s desire to send home prices back to where they belonged.

  4. I run a real business with real employees and you don’t. Say it slowly.

    And that makes you an expert on macroeconomics?

    That’s like a second-grade teacher saying ‘I understand education.’

  5. “And that makes you an expert on macroeconomics?” No, it makes me an expert on microeconomics because I sign the paycheck on the front and can’t just go on a blog and spout theories. People actually depend on me turning a profit to put bread on their tables. There is no incentive for me to hire due to the hiring tax credit. It is chump change and the risk exceeds the rewards. How about some Stepford wife slogan in response? Or even better, call me a Socialist-Marxist as you are wont to do. Of course that would be contrary to me being a capitalist, wouldn’t it?

  6. …because I sign the paycheck on the front and can’t just go on a blog and spout theories…

    Then why do you support an administration that has theorists running the national economy?

  7. It’s baffling that if anyone dares to offer a contrary view they are Socialist-Marxists, liberals, and numerous other pejoratives. There’s is nothing that I ever posted that supports this administration. I have not heard from one business owner that the employer tax credit made them run out and hire. There is still too much risk. I’m a proponent of the Laffer curve to some degree. There is an undefined point of diminishing returns that the anti-tax crowd refuses to acknowledge. We need to stop spending, but we also need to reduce our debt. Short term we need to leave the tax structure where it is to stimulate the economy. Long term we need to make the sacrifices necessary to reduce our debt. In simple terms, in order to have disposable income we need to reduce our mortgage. That’s the reality that no politician has the cajones to put forward.

  8. The fact is anyone can say anything anonymously. I own a business, fought two wars, and mananged a law firm while my doctor spouse….blah, blah. I can let that go, but please stop the nonsense that you know anything about me. It is so obvious you don’t. That is ok, because I prefer to keep it that way. The issues have nothing to do with me.

    I have owned a micro business (sold years ago when market conditions changed) and made management and hiring decisions for a business and I also have been on the board of 6 non-profits including two schools. I can tell you that tax credits for hiring were a priority because they reduced the cost of labor.

    I know for a fact that many business are actively pursuing the tax credit. They hired more people since and it leveled the playing field between the longer term unemployed and the job switchers. How you choose to hire if in fact you make that choice is specific to your business. Suppose you need three people, but you are thinking of hiring two now and kicking one down the road to see what the economy can do. You may say, hire a couple of temps. You get the tax credit available and it may push you over the line to take the plunge because the labor costs are now at a 12% discount.

    Does it make sense to buy labor at discounted prices? Yes, that is why private sector hiring picked up. If you had more serious long term tax policies which encouraged hiring, you would be better off. Accelerated Depreciation, cut the time to write off plants and equipment in half permanently. Extend the payroll tax credit for hiring unemployed people for two years. Give an investment tax credit for bio and green technologies. Cut the corporate tax rate to keep us competitive. Watch what would happen.

    The truth is if you really want to have better growth. Abolish the income tax and replace it with a FAIR tax. We would add 5 to 10% growth a year.

  9. We need to stop spending, but we also need to reduce our debt.

    Who is ‘we?’ It is the government that has bankrupted the government, and it’s bringing us along for the ride. ‘We’ didn’t do it. Hence, it’s time for the government to start ‘sacrificing.’

    The government’s plan for remediating it’s gross fiscal negligence? Print more money and finance its own debt. Don’t you wish you could do that?

    Inflation is a tax.

Comments are closed.