Playing Politics: Obama Could Be Cutting Spending All By Himself

By admin on February 24, 2010, 8:07 am

The economy has been in a decline for the last three years or so. The housing bubble burst, the automobile industry suffered record losses, and the banks and AIG needed multi-billion dollar bailouts. President Obama needs to look at doing tax cuts as a way to stabilize the US economy and stimulate job growth.

The Unemployment Rate Is Very High

Currently, the unemployment rate is very high. Many consumers are unemployed or under employed and need some form of tax relief. Currently, the unemployment rate hovers around ten percent. Consumer confidence is not good and if people do not head back to work soon then not only with the unemployment rate rise but also the foreclosure rate will too. President Obama needs to take action to help rebound the economy.

Obama Has Issued Cut Taxes for Ninety Five Percent of People

President Obama has give out many tax credits for consumers. There was the Cash for Clunkers program that went over incredibly well while helping the automobile industry at the same time. Obama also has given tax credits for first time home buyers and people who currently own their own homes. Weatherizing homes, adding solar energy and driving hybrids also garner consumers valuable tax credits. These tax credits work and if lower and middle class consumers had more opportunities to get tax cuts and tax credits hen maybe the economy would get out of its slump.

 

President Obama Can Use The Democratic Majority To Cut Taxes

It is important for consumers to pay fewer taxes because the standard of living has not gone up in years. Republicans use the platform of tax cuts all the time and would be reluctant to try and stop President Obama from lowering taxes. President has a majority of votes in the House and Senate so cutting taxes would be easy and if necessary he could sign an executive order to get the job done. Tax cuts would help consumers get back on their feet. It would help the country avoid taking on any more debt. The United States owes billions of dollars in debt to China. This is the time for action; millions of Americans are living paycheck to paycheck. Reducing the taxes that people need to pay allows them to take home a little bit of extra money every time that they get paid. Consumers pay taxes to help keep the economy; and the country should help its citizens stay afloat financially in times of financial despair.

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