What's the difference between 51 and 80?

[EconomicLiberal]

http://www.politico.com/news/stories/0109/17039.html

Obama plans to ask Congress for a stimulus package of $675 billion to $775 billion, so the planned tax cuts will total about $270 billion to $310 billion, the officials said.

Obama strategists say he wants to get 80 or more votes in the 100-member Senate, and the emphasis on tax cuts is a way to defuse conservative criticism and enlist Republican support.

But officials say the tax cuts will be based on historical and empirical evidence of what works, not ideology. Rather, the targeted tax cuts will be designed to stimulate job growth in the private sector and help middle class families, the officials said.

Wouldn't it be nice if, instead of appeasing the Republicans, who will likely never be appeased by whatever a Democrat does, he would throw a few bones to working class Americans? We have more than enough Democrats in the Senate to lose a few Southern Dem votes and still pass this bill.

[gravity]

1. Political capital

If you can get bipartisan support for you bills, you can accomplish more in office.

[NJmaverick]

2. Did you read the article? Did you read what you posted?

One of the cornerstones of this plan, is a middle class tax cut.

[EconomicLiberal]

3. Tax cuts don't solve anything in the long run.

Around 80-90% of this stimulus package should be devoted to infrastructure rebuilding. Creating government jobs, etc.

[NJmaverick]

4. Creating government jobs will not solve the budget deficit problems

Still I was addressing your comment about "throwing the middle class a bone". I was pointing out that he is doing just that. With Obama's economic team, I feel pretty confident that he will be proposing a very effective plan. One that will be supported because it's good, not because it appeased anyone.

[EconomicLiberal]

5. And tax cuts will solve the budget deficit problem?

Tax cuts created the budget deficit problem.

More tax cuts, money which will likely be spent at Wal-mart to buy cheap crap produced at slave labor wages, doesn't solve any of our problems. It is simply a band-aid.

[NJmaverick]

6. So what exactly was this "bone" you wanted tossed to the middle class?

[geek tragedy]

8. Those projects wouldn't start hiring for a year.

What's your plan for the interim?

[karynnj]

7. Because any MAJOR change will need broad support

Obama is very fortunate (and very unfortunate as it will be hard) to be coming in when the majority of the country knows the country is very far off track. He needs to build a coalition and be perceived as not going after narrow partisan goals to accomplish the broad important things that will need to be done. This was something that people, such as Kerry were saying even before the financial crisis was added to the diplomatic, global warming and basic economic challenges - this is a moment where radical FDR like initatives can pass.

I want to see what the tax cuts are before criticizing them. The fact, though is that if 49 (100 - 51) Senators are solidly against Obama's plan, we can't pass it - it will be filibustered.

[geek tragedy]

9. Key differences:

1) 51<60<80

2) Remember 1994? Clinton's budget worked great for the economy, but its passage with a bare majority--ALL Democrats--cost us the House in 1994.

[FrenchieCat]

10. The tax cuts were part of the Obama Campaign's offering to voters.....

and if he didn't offer them, he'd be criticized for that fact.

The point is that spending money in two directions, one which is tax cuts for middle and low wage earners in a gradual way (by reducing the income tax table and providing EIC increases that can be given to employees in their paychecks up front) that shows up in worker's paychecks is a far cry from a Tax rebate...which is a lump sum that can be spent or saved. The way that the tax cuts are being approached, will provide money that folks that need it will see right away, but not enough to save....but enough to spend.

The fact that tax cut offering will provide cover for the GOP to vote for the entire stimulus package without an aim at slowing it down is what is needed.....as the stimulus must get into the economy right away to fight off deflation.

See Krugman's column on the fact that in this case, haste does not make waste. http://www.nytimes.com/2009/01/05/opinion/05krugman.html?_r=1

Offering the GOP a package that they can't refuse (as there would be hell to pay with constituents) is a wise approach, especially if the package will do what was intended all along.

[JimGinPA]

11. 29

:evilgrin:

[Deja Q]

16. You beat me to it!

:cry:

[racaulk]

17. Damn it! I was gonna say that!

:rofl:

[Still Sensible]

12. What did I miss...

it sounds to me like what is being proposed is significantly targeted to "...throw a few bones to working class Americans."

[babylonsister]

13. Stretching-g-g. The stimulus package is FOR working class

Americans. Stop reading too much into this. The package has to do with us, not rethugs. :eyes:

[democrattotheend]

14. The stimulus package has several "bones" for working people

If I understand correctly, it includes an expansion of unemployment and Medicaid benefits, a tax "rebate" even for those who make too little to actually pay income taxes, aid to state and local governments that are being forced to cut services to the poor, and a tax credit for businesses that provide new jobs. Those sound like pretty good "bones" to me.

[Zynx]

15. The tax cuts are predominantly low on the income scale.

Tax cuts are not necessarily always pro-rich people. Also, some business tax cuts are needed.