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EScroogeJr (< 20)

Now, wouldn't that pull us out of recession?

Recs

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January 04, 2008 – Comments (3)

AP reports that Bush is considering new stimulus package for the economy, which would include new tax cuts. Considering the formidable intellectual challenge involved in perfecting something as perfect as Bush's first stimulus package, and in view of the persistent rumors that Bush's CPU is showing signs of overheating, this Fool would like to propose his own plan that he feels would really fit the bill to a T.

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So, ladies and gentlement, here is my new tax plan that I hope the Congress will adopt with minimal modifications and in timely manner.

Homeownership has always been the dream of hard-working American families. But many hard-working American families have seen the American dream recede from them faster then they approach it. Many homeowners who took mortgages are being asked to pay them. The American people deserve better than that. Under the new plan, many homeowners will see their real estate tax reduced by half. All houses from 6000 ft^2 to 60000 ft^2 will be eligible for the tax break. This measure will help many struggling American households make their mortgage payments on time and will reinforce the message that the American government is truly a government by the people and for the people. Yes, and I hope we can congratulate these people. 

Despite our previous effors to reform the capital gains tax system,  it still remains deeply flawed.  I've been telling the American people for years that the capital gains tax is a punitive tax that punishes success and discourages investing activities. So, as I unveil this new plan, I expect the Congress to pass the bill that would allow investors to use every dollar of capital losses to offset two dollars of capital gains. All individuals with net worth above $15 mln will be eligible under the new law. 

Our tax system puts an excessive burden on consumers by preventing them from tecording certain losses for tax purposes. The new bill will extend the list of available deductions by counting forfeited executive bonuses as losses that can be used to offset the regular income in excess of $200,000 a year. This measure will stimulate spending and help the economy overcome this rough patch.

We need to provide a relieve to the poor families who have been hit hard by the economic recession. Under the new bill, every school in Texas get one free chocolate candy, which will be fully tax-deductable. I will ask Congress to set up a special agency to administer the program. This will send a strong message to the American people that education remains a top priority of this Administration.

I look forward to working with Congress on this program. Thank you, and God bless America!

3 Comments – Post Your Own

#1) On January 04, 2008 at 10:16 PM, MakeItSeven (32.44) wrote:

I have to nitpick on your proposal.  In the spirit of No Schools Left Behind, each and every school in the United States of America  should get a free candy, not just Texas.

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#2) On January 04, 2008 at 10:24 PM, abitare (93.63) wrote:

Congradulations on breaking 2000 points today! You must have an investing system that is as good as your recession rescue. Did you attend one of those investor work shops, that I see on TV?

I saw Bush and Co speak today and I thought for sure the market would fall another 10-20%, gold and oil would go up another 20%. The more Bush and Co speak about "helping" the market the more I feel I should buy dried food, farm land and shotgun shells.

For morale Ron Paul grilling the FED:

http://www.youtube.com/watch?v=6kYxlEfUSdY&feature=related 

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#3) On January 04, 2008 at 11:34 PM, EScroogeJr (< 20) wrote:

Actually, I agree. The three sectors you named are going to outperform with or without Bush.

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