What's wrong with the idea of no income tax for a year or so?

[kimmerspixelated]

No deductions from paychecks at least for those that still have jobs! Wouldn't that help a little?

What if the employers waffling whether or not they should shut down business, were able to ride out the storm, if their taxes were excused?

Little things can add up, might help circulate economy money.

Just a thought.

[MichiganVote]

1. Anyone wealthy worships the ground you walk on.

[lostnotforgotten]

2. Where Will The Money To Run the Government Come From?

eom

[RC]

4. Beat me to it

Tax cuts helped get us into this mess.

[elocs]

3. If you have no job, what income tax is there not to withhold?

If I had a regular 40 hour a week paying job I would gladly pay any income tax owed.

[RBInMaine]

5. What about national debt, financing programs, ?????????

[MrPerson]

6. How about not changing the tax code for about 5 years?

[MedfordTim]

7. No, it's a really, REALLY bad idea

Republicans would LOVE to see "payroll taxes" stopped, even if only for a day, because that would give them the opening they need to shut down Social Security.

What ARE "payroll taxes", after all? When it's a national figure talking about it, it means FICA. What they are suggesting you do by not having payroll taxes is forego your contributions to your retirement account - AND the 50% your employer kicks in.

This is the last link in the Safety Net. Are you one of those who lost half their savings toward retirement held in a mutual fund or some other private retirement account which lost between 25-75% of it's worth in the last year? Which fund didn't lose a penny? That's right - Social Security.

Don't be fooled by their labeling. They have wanted privatized accounts since Social Security came into existence. What shape would retirees be in if EVERYTHING had been in private accounts? THIS IS PRECISELY WHY SOCIAL SECURITY WAS CREATED - to make sure that if all else fell apart, retirees (and the disabled and the children of people who die before their time) will have something to live on.

This sort of "help" is of the "I'll cut my head off so I don't have to shave anymore" variety. Not good...

[OKIsItJustMe]

8. In 2007, the IRS collected $2,674,007,818,000 in federal taxes

http://en.wikipedia.org/wiki/Federal_tax_revenue_by_state
Add that onto the deficit.

[geckosfeet]

9. Won't help the poor who pay little in income taxes. They are the ones who need help.

[MannyGoldstein]

10. Would Have The Opposite Effect, I Think

Virtually all of the money spent by the government creates jobs.

However, money saved by the rich through tax cuts gets spent on investments, sent offshore, etc. Better to raise taxes on the rich and spend the money on what's needed.

[stray cat]

11. No - anyone who can will stick it in the bank including me

[Coyote_Bandit]

12. If you want to fix the economy and create jobs

then you need to invest in infrastructure and manufactuyirng and in new and small businesses.

Tax cuts and tax credits do not serve the desired ends.

But it seems they make some people feel better.

[JohnWxy]

13. Bush tax cuts last year were mostly saved or used to pay down debt. Not very stimulating to the

economy(2/3rds to 3/4ths was saved or used to pay down debt). Better to get people to work - repairing infrastructure for example.