Michelle Obama pledges to help working families and military families

On the flip side of that, if Obama's tax plan reduces taxes on those making less than $250K per year, those people will have more money to spend, allowing small businesses to earn greater profits, leading to more jobs and a healthier economy. In order for businesses to survive and prosper, the public must have money in their pockets to spend. Compared to what McCain had planned, Obama's tax plan will give more money back to the middle class. The data is here:http://www.parade.com/news/intelligence-report/archive/how-much-would-you-pay-taxes.html

Except Amanda, that list fails to take into account the loss of Bush's tax cuts which Obama favors dropping and McCain had favored keeping. It also doesn't appear to take into acct McCain's other tax cuts, like his increase in the child tax exemption.

I don't trust Obama either way to keep his promises and I have an inching feeling we'll all be paying more than we planned on... the bailout for instance had 110 billion dollars tacked on in earmarks, while there is a possiblity the government will make back its money on the rest of the bailout (over time)... where do you think that 110 billion is going to come from? And that won't be the last of it, I'm sure our new democrat dominated government will find plenty of things to spend money on.

OHH and who cares if I have extra money to spend it'll just get negated it the products I'm buying cost more.

Our economy surives on the business flourishing, not the consumer having more money.
eg- The more money a business man has the bigger his business becomes, the bigger it becomes the more space opens up for a smaller business to fill the niche market the bigger one now neglects. The new small ones eventually become bigger opening more room for new small ones. All this time while businesses are opening its createing jobs and driving up supply, with increased supply comes a drop in prices and that's when the consumer will really feel it (not as much in an individual low income tax break). Now that the consumer isn't spending as much on it's needs and hobbies they can expand their spending base and buy things they would not have otherwise considered... it's all very cyclical and very delicate.

D you need a reality check. Who you think brought the economy down and who you think you are paying those high taxes for. I have seen every speech Obama has made and I never heard him say that he was going to raise taxes. Mccain said it on several occasions. If you are a working class family man you need to hope and pray that Obamas plan for economy goes through. You will have less taxes to pay and you might still ahve a job in 3 months. Do your research before you type.

Are you kidding my Crystal?? Did you miss Joe the plumber? That was all about raising taxes. I'm wondering what you were listening to. If you missed hearing him say anything about raising taxes on business's, you had to have been under a rock.

Joy - You used Joe the Plumber as an example?!?!? The guy is a fraud who's been discredited. He doesn't even own a business or have enough money to buy one. I think I'll wait to see what happens rather than go by any interaction involving Joe the Plumber.

Amanda, I used that just as an example of raising taxes. Whether Joe the plumber was anything or not, we all heard what was said to him. For Crystal to say she never heard him talk of raising taxes on what you made is unbelievable unless you lived under a rock.

I agree that small businesses are taking it on the chin, and they have for some time now, during both Democratic and Republican administrations. But no matter how nice it sounds, tax cuts won't solve this problem. The problem lies with greedy banks who lent too much money to too many people, many who had no business getting loans. Now, the chickens have come home to roost, the people who got loans they didn't deserve to get are defaulting on them, and the banks have to stop lending everyone money, including small businesses who depend on lines of credit for financing. I have heard stories of small and medium sized companies having to lay people off and shut their doors because their credit was pulled. Also, banks have had to tighten their lending standards significantly, making it harder for people without flawless credit to get loans. This is why people in construction and home remodeling businesses are running scared. People can't use their homes as cash registers anymore. More regulation is needed in the banking and credit industries.

Another problem is the fact that we don't manufacture anything except debt in this country. In order for a country to survive, it has to have a manufacturing base. If there are any other stimulus packages offered by the government, I hope it concentrates on offering incentives to those who wish to start new businesses in new areas of the economy, such as "green" industries. That would definitely be a better idea than handing everyone a check for $600 and telling them to spend it on more Chinese made crap at Walmart. At least the money would be going back into our economy as opposed to China's

Tax cuts would only be a band aid on all the problems with our economy. We need a total revamp.

I'm not really interested in laying blame right now. Don't you think it's to late for that? You feel it's better to give "stimulus's" to people for new business and just let the people who have been manufacturing in this country for 60 years, to "oh well, so sad for you."

Please................

I feel it would serve the people much better to let them keep their jobs instead of "giving" people money to start new ones. Take these 20 people who got laid off yesterday. Some of them have lived in this town and been with this company their whole lives. What are they going to do now? Just wait for new business's to open up?

SKL, you said -"As for all those bad loans, let's talk about the reality. The liberals forced banks to lend to minorities regardless of whether their credit profiles were appropriate. In those days, the big complaint was "you aren't lending to me because I'm black." Now, those same people are saying "you shouldn't have lent me money, and now I'm in trouble." I don't care who calls me a racist, this is the fact. The banks deserve a bailout for being forced to supplement the lifestyles of minorities who were living above their means."

So minorities are the only ones who live above their means and the banks were forced to give them loans? Please! I am glad you are ok with being called a racist, because that's obviously what you are. While the Clinton bill may have forbade banks from redlining, that is in no way the only cause of the credit crisis. Face it, banks are 100% responsible for whom they loan money too. It's a greater than billion dollar industry that has no sympathy from me and most other people now that they find themselves holding the bag for so many bad loans they made. When making the decision to extend a loan, they have all the information they need to make a sound decision. Over the last few years, banks were just begging for all consumers to borrow, borrow, borrow. While you, myself and others may have not fallen for the bait, plenty of other hardworking people have. And while I don't believe that the government should bail most of these people out of the mortgages they took, banks certainly don't deserve the bailout they received.

You know, SKL, you are obviously conservative, so don't you believe in the mantra of "personal responsibility"? Or do you believe that personal responsibility should only be expected of individuals and that large businesses and banks should be allowed to do as they wish, damn the consequences?

Oh, Mr. B.O. (obviously a sign of silly disrespect) is not president yet. Bush is still at the helm, continuing his mediocre leadership until 1/20/09. It's still Bush's responsibility to do something.

Mr. B.O. so if that's disrespectful does that mean calling President Bush "W" is too? I don't know if SKL meant to be disrespectful or not, but I think its wonderful your so quick do judge.

1) Yes, I was being disrespectful. So what? How many times have I heard people calling Bush a moron and a hundred other things on this site? I haven't noticed anyone complaining about that. Besides, B.O. disrespects me every time he speaks, by insulting my intelligence.

This is the USA. I have a right to speak my mind regardless of what color the president-elect's skin is (you know that's why you are calling me out on "disrespect"). B.O. are the president-elect's first and last initials and I think his policies stink.

2) Actually, I got the "B.O." from right here. Another poster ended her post with "just say no to B.O.!" Loved that post!

3) As for the loans, you obviously don't know the facts. I'm speaking from experience, not what some news channel tells me. There is fault on multiple sides, but we wouldn't have this number of mortgage foreclosures if not for the requirement to make loans based on racial balance.

"In fact, I feared the right to speak out against our government had been slipping away under Bush"

i had to chuckle at this statement. i live in seattle and from what i see, there were more and more protests, not less. actually, name one person that had their right to speak out taken away.