Tax-Cut Decision Would Jumpstart U.S. Economy, Coons Says

[marmar]

By Jeff Plungis


Oct. 17 (Bloomberg) -- Democratic U.S. Senate candidate Chris Coons said a quick decision on extending most of the Bush administration’s tax cuts would give investors the certainty they need to jumpstart the economy.

“There’s a trillion dollars in private capital sitting on the sidelines right now,” Coons said. “All that money is sitting there waiting for clear signals about health-care costs, about where we’re going in tax policy.”

Coons and his opponent, Republican Christine O’Donnell, traded barbs on taxes in taped interviews broadcast today on ABC’s “This Week.” Democrats’ chances of holding Delaware’s open U.S. Senate seat, once held by Vice President Joe Biden, have risen as the party seeks to retain control of the chamber in the Nov. 2 elections.

A recent poll in the state gives Coons, 47, county executive of New Castle County, Delaware’s largest county, a 19- point lead over Republican Christine O’Donnell, 41, a marketing consultant. The Oct. 8-11 survey by Monmouth University in West Long Branch, New Jersey, showed Coons leading O’Donnell 57 percent to 38 percent among likely voters. .............(more)

The complete piece is at: http://noir.bloomberg.com/apps/news?pid=20601087&sid=a5QiggJpOgRI&pos=9

[Greyhound]

1. There ya go, two right wings giving us a "choice" between wrong and completely crazed.

:eyes:
:kick: & R

[madrchsod]

2. what an idiot

[Tempest]

3. The tax cuts never helped the economy in the first place

So now we're to believe extending them will "jump start" the economy?

Coons is the definition of insanity.

[rucky]

4. Oy vey.

Another one, eh?

[nadinbrzezinski]

5. Because it worked so well

Everyntime it's been tried...

:sarcasm:

[leftstreet]

6. Wait a minute...what? A Democrat is saying this?

I'm so confused

:cry:

[TBF]

7. That's going to play well in his area -

he sealed the election with that statement.

[Liberal_Stalwart71]

10. Yeah, sadly, we all know that Delaware tends to lean conservative on economic matters, not to

mention, the large presence and influence the banks have in that state. He said what he had to say, and hopefully he meant extending the cuts for the middle class, not the top 2%.

[EarlG]

8. Like most other Democrats Coons is only in favor of extending the middle class tax cuts

Not the cuts for the top 2%.

But the issues he brings up next to this fiscal conservatism aren't precisely the kinds that you see among some national figures. He has spoken out in favor of cutting outdated military weapons systems and bloated Big Ag subsidies. He opposes the idea of cutting entitlement benefits in programs like Social Security, saying that raising the retirement age or cutting benefits "are not choices I'm inclined to make." And unlike some deficit peacocks, he's perfectly consistent. For example, on the Bush tax cuts, he supports the "extension of middle-class tax relief," but not for the people at the top 2%. And the savings for letting those expire need to go into more stimulus:

"I think you can take the $700 billion dollars we were going to give to rich people, and use it for targeted job creation. I believe in a double-down manufacturing tax credit to team with the R&D tax credit, so that you get twice the tax break if you manufacture the good you created here in America. But we have to lessen the burden on our middle-class families."

http://news.firedoglake.com/2010/09/22/chris-coons-talks-on-trade-taxes-manufacturing-stimulus

Just thought I should point that out.

[dkf]

9. Finally someone gets it.

Uncertainty keeps people from investing. In order to make decisions, knowing what your costs and tax rates are is key.

[OHdem10]

11. If those Bush taxcuts for the rich had worked we would not be

in a recession in the first place. If those marvelous Free Market
principles worked, then we certainly should not be in such a
mess.

I pray just one Democrat get the guts to point this out
clearly and succinctly.

Too often they just go "Me Too" and echo the GOP refrain.
Taxcuts.

[lumberjack_jeff]

12. He's right-ish.

There are a lot of good reasons to extend the low and middle-class tax cuts, including the fact that it gives consumers certainty to help the economy improve.

Even certainty that tax cuts for the rich won't be extended helps eliminate uncertainty. If wealthy employers know their personal taxes will go up next year, they'll act now to minimize their taxable income by, for instance, hiring people or buying business assets.

[customerserviceguy]

13. One thing's for certain

We will know the Delaware results early, there are only three counties, and no really far-flung rural areas to get votes from late. If Coons doesn't beat Prissy Chrissy by at least ten points, then we're going to be in for a very tough night.