Obama Eyes $300 Billion Tax Cut (flag)

online.wsj.com — [Obama Eyes $310 Billion Tax Cut] Getty Images President-elect Barack Obama and congressional Democrats are crafting a plan to offer as much as $310 billion of tax cuts.

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Barack Obama

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Obama Considering $310 Billion Tax Cut
naked capitalism — ... The Wall Street Journal has sent a news alert that says that Obama is mulling a stimulus plan that will rely more heavily on tax cuts than initially envisaged as a way to win needed Republican support. The Journal says tax cuts could be as much as $310 billion, or 40%, of a total package of $775 billoin. ...

Obama to Cut Taxes?
Club for Growth — From the Wall Street Journal: President-elect Barack Obama and congressional Democrats are crafting a plan to offer as much as $310 billion in tax cuts to individuals and businesses, a move aimed at attracting Republican support for an economic-stimulus package and prodding companies to create jobs. The size of the proposed tax cuts -- which would account for about 40% of a stimulus package that could reach $775 billion over two years -- is greater than many on both sides of the aisle in Congress had anticipated, and may make it ...

links for 2009-01-05
Economist's View — The myth of the riskometer - voxeu.org CRE Crash Spreading - Calculated Risk Cheat, Pray, Love - James Surowiecki Fed Officials Worry Inflation Rates Could Ease Too Much - RTE Who should get the federal stimulus funds - Ed Glaeser - Boston Globe Obama Eyes $310 Billion Tax Cut - WSJ.com Fed has abandoned monetary policy, critic says - Reuters Financial globalisation and productivity growth - voxeu.org U.S. ...

Fed Watch: Starting on an Ugly Note
Economist's View — ... our long-run growth, we should focus exclusively on short-term policies that generate consumer spending. But that approach led to some of the challenges we face today -- and it is that approach that we must reject if we are going to strengthen our middle class and our economy over the long run. Far from being an excuse for inaction or delay, the magnitude of the work ahead is all the more reason to begin that work. How quickly the winds shift. From today’s Wall Street Journal: President-elect Barack Obama and congressional ...

As economic problems pile up, Obame looks at tax cut
BloggingStocks — ... What's the answer? Combine $350 million in business and consumer tax cuts with the plan to increase jobs. So, according to The Wall Street Journal, "The size of the proposed tax cuts -- which would account for about 40% of a stimulus package that could reach $775 billion over two years -- is greater than many on both sides of the aisle in Congress had anticipated." ...

Obama Goes For Tax Cuts
EconoSpeak — Jonathan Weisman and Naftali Bendavid report: President-elect Barack Obama and congressional Democrats are crafting a plan to offer about $300 billion of tax cuts to individuals and businesses, a move aimed at attracting Republican support for an economic-stimulus package and prodding companies to create jobs. The size of the proposed tax cuts -- which would account for about 40% of a stimulus package that could reach $775 billion over two years -- is greater than many on both sides of the aisle in Congress had anticipated. It may make it easier to win over ...

Is Obama relying too much on tax cuts?
Paul Krugman — ... morning certainly raise questions. Let’s lay out the basics here. Other things equal, public investment is a much better way to provide economic stimulus than tax cuts, for two reasons. First, if the government spends money, that money is spent, helping support demand, whereas tax cuts may be largely saved. So public investment offers more bang for the buck. Second, public investment leaves something of value behind when the stimulus is over. That said, there’s a problem with a public-investment-only stimulus plan, namely timing. We need stimulus fast, and there’s ...

Just Another Manic Monday
Phil’s Stock World — ... That’s the word in the WSJ this morning as Obama-mania sweeps the investor class.  That goes a long way to explaining what the catalyst was for last week’s rally - we knew we were going to be getting a run-up into the inauguration - we just didn’t think it would come so early but it doesn’t take too many people to hear whispers of tax cuts (as part of an $800Bn stimulus plan) to kick start some into taking the plunge.  ...

Obama's Massive Tax Cuts
Minyanville — As Inauguration day nears, details of President-Elect Barack Obama s huge economic stimulus package are emerging. In today's meeting with Congressional Democrats, Obama begins to lay out his vision for reviving the nation s catatonic economy. According to the Wall Street Journal , around 40% of what could be an almost $800 billion plan may come in the form of tax cuts. Rather than mailing rebate checks, as the Bush administration did last summer -- which by most accounts did little to boost real economic activity -- Obama wants to reduce tax withholdings to get ...

Why Do Two Wrongs Have to Make a Political Compromise?
EconomistMom.com — ... The Wall Street Journal’s story says my friend Bill Gale was also surprised to see the $300 billion in tax cuts: ...

Will tax stimulus stimulate investment?
macroblog — ... On Monday, the form of potential fiscal stimulus, 2009-style, took a step forward detail-wise. From the Wall Street Journal: “President-elect Barack Obama and congressional Democrats are crafting a plan to offer about $300 billion of tax cuts to individuals and businesses, a move aimed at attracting Republican support for an economic-stimulus package and prodding companies to create jobs. “The size of the proposed tax cuts—which would account for about 40% of a stimulus package that could reach $775 billion over two ...